ROADSHOW PRESENTATION · and the value chain • in their international expansion, globalisation and digitalisation • Boost our client’s performance through innovation, increased

ROADSHOW PRESENTATION

NOVEMBER 2019

2NOVEMBER 2019

DNAA K K A G R O U P

3NOVEMBER 2019

OPPORTUNITIES FINANCEDNA CLEAR 2022

1,505 M€2018 Group revenue

Up 12.8% YOY*

>20,000Skilled Employees

Up 35.5% YOY

25Countries

EU LEADERDigital & Engineering

In Mobility

9.5%Revenue Organic

Growth in FY 2018

* PDS Tech is consolidated as of 1st November 2018

GROUP OVERVIEW 2018

4NOVEMBER 2019


THE MAKING OF A EUROPEAN LEADER

Creating

AKKA in the

automotive

sector

in France

1984

Reaching

€40Mrevenue

accelerating

diversification

in aerospace

1999

INITIAL

PUBLIC

OFFERINGaeronautics

become

the main

segment

2005

40%Revenue

generated

outside of

France

2012

AKKA

reaches

€1BILLIONin revenue

2015

Becoming

a leader in

Germany

60%revenue

generated

outside

of France

2017

Enhanced

diversification

in aerospace

in the US

2018

5NOVEMBER 2019


AKKA TECHNOLOGIES RANKS AMONG THE TOP 5

EUROPEAN PLAYERS IN ENGINEERING CONSULTING

OUR STRENGTHSOUR OFFEROUR CLIENTS/PARTNERS

Largest European OEMs and

industrial companies.

Support clients in the conception of

new products:

• over entire product design cycle

and the value chain

• in their international expansion,

globalisation and digitalisation

• Boost our client’s performance

through innovation, increased value

added, agility & cross-sector

expertise.

• Tailored transnational turnkey

projects.

o Through 21 skills centres

o Thanks to 20,000 dedicated

experts worldwide

6NOVEMBER 2019


STRATEGY OF BALANCESDELIVERING RESULTS SINCE 1999

GEOGRAPHICAL BALANCE

CLIENT BALANCE

FINANCIAL

BALANCE

SKILLS BALANCE

7NOVEMBER 2019


Design

office/

process

1984

Design,

powertrain,

vehicle

architecture

Embedded IT

(Coframi)

ADAS/

Link & Go

Downstream

aerospace

(Aeroconseil)

199520062007

2009 2011

Mechatronic,

electric &

hybrids

20122015

IoT

Digital

20152019

BALANCING OUR SKILL-SETS AND

ANTICIPATING DISRUPTIVE

TECHNOLOGIES

8NOVEMBER 2019


MANUFACTURING SECTOR RESHAPED THROUGH DIGITAL CONTINUITY

SERVICE &

AFTER SALES

DIGITAL

MANUFACTURING

CONNECTED

PRODUCTS

DIGITAL

ENGINEERINGDIGITAL

TWIN

IOT, AI & ROBOTICS

ANALYTICS

DIGITAL WORKER

PRODUCT IV&V

Cybersecurity

9NOVEMBER 2019


SMART

CONNECTED

SOLUTIONS

IMMERSIVE

TECHNOLOGIES

DIGITAL

APPLICATIONS

DESIGN

SYSTEMS

SECURITY

DATA

INTELLINGENCE

SHOPFLOOR

SOLUTIONS

CONSULTING

ENGINEERING

MANUFACTURING

A UNIQUE GLOBAL PLAYER ON THE MOBILITY & SOFTWARE ENGINEERING MARKET

10NOVEMBER 2019


Mobility

82%

Automotive

37%

Aerospace

34%

Suppliers

8%

Railways

3%

Energy

4%

Life sciences

6%

Others

8%

€ 1.7Bn

AKKA 2018 pro forma

€ 1.7Bn

Intl

18%

France

37%

Germany

29%

North

America

16%

11NOVEMBER 2019


STRONG CLIENT DIVERSIFICATION

12NOVEMBER 2019


COMBINED ACQUISITIONS & ORGANIC GROWTH

AKKA:

+22%

VS SECTOR:

+9%

CAGR

2006-2018*

* Pro forma including PDS Tech

2006 2011 2015 2017 2018

REVENUE (€M)

€1.0B

€0.5B

€1.3B

€1.7B*

€0.15B

13NOVEMBER 2019


160236

382333

400474

827879 886

1,002

1,123

1,334

1,505

FY06 FY07 FY08* FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18**

Revenues in €M

PROFITABLE GROWTH

* Pro forma before the 2009 divestment

** PDS Tech is consolidated as of 1st November 2018

EBITDA % of Sales

2006 - 2018

Average : 8.7%

Always > 7%

Leverage Ratio

2006 - 2018

Average : 1.0x

Highest : 2.0x

14NOVEMBER 2019


SMART

CONNECTED

SOLUTIONS

UNIQUE VISION

ON THE

INDUSTRY

A UNIQUE

EDGE ON

DIGITAL

TECHNOLOGIES

STRONG TRACK

RECORD IN

INTEGRATING

ACQUSITIONS

CAPACITY TO

ANTICIPATE

DISRUPTIVE

TECHNOLOGY

CAPACITY TO

DELIVER LARGE

TRANSNATIONAL

PROJECTS

CONSULTING

ENGINEERING

21 SKILL CENTRES

DELIVERING

TURNKEY

SOLUTIONS

UNIQUELY POSITIONED TO DESIGN TOMORROW’S PRODUCTS

15NOVEMBER 2019

CLEAR 2022I N A C T I O N

16NOVEMBER 2019


CLEAR 2022

CUSTOMER-ORIENTED

C

Top 20 clients

above €50M

revenue*

LEADERSHIP IN INNOVATION

L

75% of our

activities in the

digital field

EXCELLENCE IN DELIVERY

E

Increase

projects gross

margin by 2%

ATTRACTIVE FOR TALENTS

A

Hire 10,000

talented digital

natives

RESULTS-ORIENTED

R

Commited to

best-in-class

performance

*On average

17NOVEMBER 2019


AKKA IN ACTION:

CLEAR 2022 TARGETS

DIGITAL

ACCELERATIONACCELERATION

IN GERMANY

NEW SALES

ORGANISATION

CLIENT

DIVERSIFICATION

IN AEROSPACE

18NOVEMBER 2019


PAVING THE WAY TO CLEAR 2022:

A UNIQUE DNA

GROWTH ACCELERATORS

Automotive

Aerospace

Digital

0.9Bn

1.3Bn

1.7Bn

2.5Bn

2014 2017 2018* 2022

PACT 17 CLEAR 22

* AKKA Proforma figures including PDS Tech

19NOVEMBER 2019


THE AKKADEMY

DIGITAL TALENT ACQUISITION FOR OUR CLIENT

• A unique tool to hire digital talents

• Learning Program strengthened

• University Partnerships Program

• Strengthened end-customer focus

• Re-definition of recruitment allocations

ACCELERATING DIGITAL TALENT

• Creation of a Thales AKKAdemy (digital recruitment

platform)

• Advanced discussions ongoing for similar projects

with AKKA top 20 customers

• Strategic alignment with the Strategic Customers

Department

PART OF OUR SOLUTIONS PORTFOLIO

• Franchising concept in European countries:

• Launch of an AKKAdemy in Leipzig to fuel the

centre of digital expertise in Magdeburg

MORE EUROPEAN CAMPUSES

• Total digital talent

• Number of countries / locations

• Client accounts served (per industry?

SUCCESSFUL DEPLOYMENT

20NOVEMBER 2019


AKKA IN ACTION: CLEAR 2022 TARGETS

Revenue

€2.5BN

Operating profit

from recurring

activities

€250M

Free cash flow

generation

€150M

21NOVEMBER 2019

OPPORTUNITIESC O M B I N I N G D I G I T A L & E N G I N E E R I N G

22NOVEMBER 2019


STRONG DIGITAL OUTLOOK

IN GERMANY

CA

SE

Shared & services

Electric

Connected

Autonomous

DESIGN & DIGITAL FACTORY

NEW BUSINESS MODELS

CONNECTED FLEET

URBAN AIR MOBILITY

ELECTRIFICATION

23NOVEMBER 2019


ON TRACK TO BECOMING A LEADER

IN NORTH AMERICA

SUCCESS OF PDS

TECH INTEGRATION

SYNERGIES

above expectations

US CUSTOMERS

Boeing, Honeywell,

United Technologies

EUROPEAN

CUSTOMERS

Daimler, Porsche

$300 MILLION CONTRACTwith one of our main US customers in Aerospace

STRONG GROWTH WITH

24NOVEMBER 2019


STRATEGIC CUSTOMERS DEPARTMENTDRIVING GROWTH BY SERVING CUSTOMERS’ NEEDS GLOBALLY

WITH A COMPREHENSIVE SOLUTIONS PORTFOLIO

A comprehensive solutions portfolio

wherever our customers need us

25NOVEMBER 2019


MAIN CONTRACTS WON IN H1 2019

• Digital

• ADAS

• €60M

• Digital Analytics

• Embedded Electronics

• EV Battery Production

• €100M

• Framework Contract• $300M Contract

in Aerospace in US

AU

TOA

ER

O

• E2S + MACV8

Framework contract

• Key topics: IoT, Digital

Factory

26NOVEMBER 2019


LINK & FLY

27NOVEMBER 2019

Q3 2019H I G H L I G H T S

28NOVEMBER 2019


STRONG PERFORMANCE IN Q3 2019

€441.1M

GROUP

+7.4%*

* Pro-forma growth

€123.5M

+2.4%*

GERMANY

€75.9M

+7.8%*

INTERNATIONAL

€78.4M

+16.8%*

NORTH AMERICA

€163.3M

FRANCE

+7.0%*

29NOVEMBER 2019


€1,332.5M

GROUP

+8.0%*

* Pro-forma growth

€378.9M

+1.7%*

GERMANY

€228.7M

+6.7%*

INTERNATIONAL

€230.8M

+22.7%*

NORTH AMERICA

€494.1M

FRANCE

+7.7%*

STRONG PERFORMANCE IN YTD 2019

30NOVEMBER 2019


Q3 2019: REVENUE BY BU

€MQ3 2019 REVENUE

Q3 2018 REVENUE

% CHANGE ORGANIC PRO FORMA

FRANCE 163.3 152.6 7.0% 7.0% 7.0%

GERMANY 123.5 120.6 2.4% 2.4% 2.4%

NORTH AMERICA 78.4 6.1 1,186.6% 35.1% 16.8%

INTERNATIONAL 75.9 70.4 7.8% 6.9% 7.8%

TOTAL GROUP 441.1 349.8 26.1% 5.9% 7.4%

31NOVEMBER 2019


YTD 9M 2019: REVENUE BY BU

€MYTD 9M 2019

REVENUEYTD 9M 2018

REVENUE% CHANGE ORGANIC PRO FORMA

FRANCE 494.1 458.7 7.7% 7.7% 7.7%

GERMANY 378.9 372.6 1.7% 1.7% 1.7%

NORTH AMERICA 230.8 16.2 1,327.4% 43.3% 22.7%

INTERNATIONAL 228.7 214.2 6.7% 6.2% 6.7%

TOTAL GROUP 1,332.5 1,061.7 25.5% 5.9% 8.0%

32NOVEMBER 2019


YTD 9M 2019

€ 1,332.5M

Intl

17%

France

37%

Germany

28%

North

America

18%

YTD 9M 2019: A WELL BALANCED REVENUE STREAM

+5.9% TOTAL GROUP ORGANIC GROWTH

France +7.7%

Germany +1.7%

North America +43.3%

International +6.2%

33NOVEMBER 2019


Mobility

80%

Automotive

33%

Aerospace

31%

Suppliers

12%

Railways

4%

Energy

4%

Chemistry

and health

5%

Others

11%

YTD 9M 2019

€ 1,332.5M

YTD 9M 2019: STRONG DIVERSIFICATION

ORGANIC GROWTH

(YTD 9M 2019)

Auto

+6%

Aero

+10%

Railways

+17%

34NOVEMBER 2019

FINANCIAL RESULTSH 1 2 0 1 9

35NOVEMBER 2019


H1 2019: VERY STRONG PERFORMANCE

€891.4M

H1 2019 REVENUE

+25% YoY

€60.0M

OPERATING PROFIT

+23% YoY

EPS

€1.31

+38% YoY

36NOVEMBER 2019


BPS+40

at 7.3%

GROUP OPERATING MARGIN Excl. PDS:

H1 2019: PROFIT FROM BUSINESS OPERATIONS

France Germany North America Intl

H1 2018 H1 2019

At 7.7%

+40 BPS

At 10.5%*+50 BPS

At 11.1%+40 BPS

At 3.6%

+250 BPS

* Incl. CIR

37NOVEMBER 2019


BECOMING A LEADER IN NORTH AMERICASTRONG INCREASE OF PDS TECH PROFITABILITY

€161M

PDS TECH H1 2019

REVENUE

23%

PDS TECH

REVENUE GROWTHPDS TECH H1 2019

OPERATING MARGIN

3.6%

38NOVEMBER 2019


AKKA IN H1 2019: NET INCOME UP +41%

€M H1 2019 H1 2018 % CHANGE

REVENUE 891.4 711.9 25.2%

PROFIT FROM ORDINARY ACTIVITIES 59.2 48.8 21.3%

IFRS 16 Impact 0.8

PROFIT FROM ORDINARY ACTIVITIES (Incl. IFRS 16) 60.0 48.8 22.9%

% REVENUE 6.7% 6.9% -20 bps

OTHER NON-RECURRING (11.5) (8.0)

FREE SHARES, STOCK OPTIONS (3.4) (3.7)

OPERATING INCOME 45.1 37.1 21.6%

% REVENUE 5.1% 5.2% -10 bps

FINANCIAL RESULT (8.2) (9.4)

PRE-TAX INCOME 61.9 27.7 33.5%

TAX EXPENSE (10.6) (7.1)

CONSOLIDATED NET INCOME 26.3 20.6 27.8%

MINORITY INTEREST (0.04) (1.9)

GROUP NET INCOME 26.3 18.7 40.8%

EPS 1.31 0.95 38.2%

39NOVEMBER 2019


H1 2019: HEALTHY BALANCE SHEET

x2.3LEVERAGE

Assets Liabilities

In €M H1 2019 H1 2018

GOODWILL 611.3 286.1

INTANGIBLE ASSETS 20.4 19.4

PROPERTY, PLANT & EQUIPMENT

93.7 89.6

Right of use/ IFRS16 155.7

OTHER NON CURRENT ASSETS 156.1 153.1

NON-CURRENT ASSETS 787.3 548.2

INVENTORIES 9.3 8.3

RECEIVABLES 397.2 371.0

CASH AND CASH EQUIVALENTS

187.3 278.2

CURRENT ASSETS 593.8 657.5

TOTAL ASSETS 1,381.1 1,205.7

In €M H1 2019 H1 2018

GROUP SHARE OF EQUITY 267.8 237.1

NON-CONTROLLING INTERESTS 0.4 61.3

SHAREHOLDERS’ EQUITY 268.2 273.4

NON-CURRENT LIABILITIES 644.6 544.3

CURRENT PROVISIONS 2.9 4.5

OTHER CURRENT FINANCIAL LIABILITIES

83.5 7.7

CURRENT LEASE LIABILITIES/IFRS16

28.8

OTHER CURRENT LIABILITIES 353.1 375.8

CURRENT LIABILITIES 468.3 388.0

TOTAL LIABILITIES 1,381.1 1,205.7

40NOVEMBER 2019


NET DEBT 30th JUNE 2019

368.9 M€NET DEBT (€M)

131%GEARING

CP

5% SSD

93%

DEBT PROFILE (%) AS OF 30/06/2019

RCF:

€225M (not drawn as of 30/06/2019)

NEU CP ISSUE:

€275M potential unused

DEBT CHARACTERISTICS:

• Average maturity of 3.4 years

• Average cost of debt: 1.7%

• Leverage H1 2019: 2.26x *

• Gearing H1 2019: 131% *

52 7.5

317.5

127.5

5

200

11.4

25

2019 2021 2022 2023 2024 2027

SSD UNDRAWN RCF PDS RCF CP*without IFRS16

41NOVEMBER 2019


NET DEBT SEASONALITY(€M)

30

76

46

10994

141

97

223

195

244

279

369

FY 13 H1 14 FY 14 H1 15 FY 15 H1 16 FY 16 H1 17 FY 17 H1 18 FY 18 H1 19

42NOVEMBER 2019


PAST 12 MONTHS: EVOLUTION OF NET CASH POSITION (€M)

278.2

187.3

125.7

(32.7) (14.9)(25.6)

(119.5)

(13.8) 12.8 (22.9)

NET CASH

30/06/18 CASH FLOW

CHANGE IN

WORKING

CAPITAL TAXES CAPEX

ACQUISITIONS &

CHANGE IN

SCOPE DIVIDENDS

FINANCING

ACTIVITIES

FINANCIAL

INTERESTS & OTHER

NET CASH

30/06/19

43NOVEMBER 2019


FINANCING CAPACITY

€790M

GROSS CASH

30/06/2019

€187M

CF*

€233M+* Credit Facility

** New Credit Facility O/W 70M€ should be finalized in Q3

+ CF**

€370M

PAVING THE WAY TO CLEAR 2022:

STRONG CAPACITY TO FUEL GROWTH

44NOVEMBER 2019


2019 TARGETS CONFIRMED

0%

10%

Organic

growth

≥ 6%

Operating

margin

≥ 8%

Free cash flow

generation

≥ 5%

45NOVEMBER 2019

THANK YOU!

Q&A SESSION

46NOVEMBER 2019

CONTACT

akka-technologies.com

akka-technologies @akka_tech AKKATechnologies1

47NOVEMBER 2019

DISCLAIMER

• This presentation does not contain or constitute an offer of securities for sale or an invitation or inducement to investin securities in France, the United States or any other jurisdiction.

• This presentation may contain information expressed as forward-looking statements. Forward-looking statements arestatements that are not historical facts. Forward-looking statements may include anticipations, projections and theirunderlying assumptions as well as statements (regarding plans, objectives, expectations and intentions, futurefinancial results, potential events, operations, services, products). Such information concerns either trends or targetsand cannot be regarded as results forecasts or as any other performance indicator.

• This information is by nature subject to risk and uncertainty, that may cause the actual results to differ from thosementioned in the forward-looking statements. Even though AKKA Group’s management believes that theexpectations reflected as of the date of this presentation in such forward-looking statements are reasonable, thisinformation does not reflect the Group's future performance and is not intended to give any assurances or comfortas to future results. Therefore no-one should unduly rely on these forward-looking statements. The AKKA Group makesno commitment to update this information.

• More comprehensive information on the AKKA Technologies Group may be obtained on our website.

48NOVEMBER 2019

APPENDICES

49


NOVEMBER 2019

H1 2019: REVENUE BY BU

€MH1 2019 REVENUE

H1 2018 REVENUE

% CHANGE ORGANIC PRO FORMA

FRANCE 330.8 306.0 8.1% 8.1% 8.1%

GERMANY 255.4 252.0 1.4% 1.4% 1.4%

NORTH AMERICA 152.4 10.1 1,412.5% 48.2% 26.1%

INTERNATIONAL 152.8 143.8 6.2% 5.8% 6.2%

TOTAL GROUP 891.4 711.9 25.2% 5.9% 8.3%

50


NOVEMBER 2019

REVENUE BY QUARTER (€M)

268.3281.8

272.9

299.5

328.3338.2

310.3

357.6 353.9 358.0349.8

443.7 446.3 445.2 441.1

Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19

+26.1%

51


NOVEMBER 2019

H1 2019: PROFIT FROM BUSINESS OPERATIONS

H1 2019 H1 2018

€M % of revenue €M % of revenue Growth

FRANCE 24.9 7.5% 21.9 7.2% 12.3%

GERMANY 19.7 7.7% 18.5 7.3% 4.3%

NORTH AMERICA 5.6 3.6% 0.1 1.1% 5,400%

INTERNATIONAL 17,0 11.1% 15.4 10.7% 9.7%

OTHER (7.1) (7.1)

TOTAL GROUP 60.0 6.7% 48.8 6.9% 23.0%

52


NOVEMBER 2019

H1 2019: IFRS 16 impact

IN €MH1 2019

(W/O IFRS 16)

IFRS 16

IMPACT

H1 2019

(IFRS 16)

EBIT 59.2 6.6% 0.8 60.0 6.7%

EBITDA 69.4 7.8% 16.3 85.7 9.6%

FINANCIAL RESULT

-6.5 -1.7 -8.2

NET RESULT 27.1 3.0% -0.8 26.3 2.9%

NET DEBT 618.9 41.4% 157.4 526.3 59.0%

LEVERAGE 2.26x 2.96x

COVENANT <3.5x <4.5x

53


NOVEMBER 2019

H1 2019: HEALTHY BALANCE SHEET

In €M H1 2019 H1 2018

GOODWILL 611.3 286.1

INTANGIBLE ASSETS 20.4 19.4

PROPERTY, PLANT & EQUIPMENT

93.7 89.6

Right of use/ IFRS16 155.7

NON-CURRENT FINANCIAL ASSETS

38.8 35.8

AFFILIATED COMPANIES & JV 47.4 46.6

OTHER NET LONG-TERM ASSETS

35.1 61.4

DEFERRED TAX ASSETS 34.8 34.3

NON-CURRENT ASSETS 787.3 548.2

INVENTORIES 9.3 8.3

ACCOUNTS RECEIVABLE 302.6 254.8

OTHER RECEIVABLES 94.6 116.2

CASH AND CASH EQUIVALENTS

187.3 278.2

CURRENT ASSETS 593.8 657.5

TOTAL ASSETS 1,381,1 1,205.7

x2.3LEVERAGE

In €M H1 2019 H1 2018

GROUP SHARE OF EQUITY 267.8 237.1

NON-CONTROLLING INTERESTS

0.4 61.3

SHAREHOLDERS’ EQUITY 268.2 273.4

NON-CURRENT ACCRUALS 28.7 26.0

OTHER NON-CURRENT LIABILITIES

487.2 518.3

NON-CURRENT LEASE LIABILITIES/IFRS16

128.7

NON-CURRENT LIABILITIES 644.6 544.3

CURRENT ACCRUALS 2.9 4.5

OTHER CURRENT FINANCIAL LIABILITIES

83.5 7.7

CURRENT LEASE LIABILITIES/IFRS16

28.8

TRADE PAYABLES 102.4 106.4

TAX AND SOCIAL SECURITY 203.4 222.6

OTHER LIABILITIES 47.3 46.8

CURRENT LIABILITIES 468.3 388.0

TOTAL LIABILITIES 1,381.1 1,205.7

Assets Liabilities

54


NOVEMBER 2019

H1 2019: EVOLUTION OF NET CASH POSITION (€M)

271.8

187.3

58.9

(102.1)

(9.0)(14.3)

(14.2) 3.1 (6.9)

NET CASH

31/12/18 CASH FLOW

CHANGE IN

WORKING CAPITAL TAXES CAPEX

ACQUISITIONS &

CHANGE IN SCOPE

FINANCING

ACTIVITIES

FINANCIAL INTERESTS

& OTHER

NET CASH

30/06/19

55


NOVEMBER 2019

76

67

75

64 66

54

59

53 55

53 52

H1 2014 FY 2014 H1 2015 FY 2015 H1 2016 FY 2016 H1 2017 FY 2017 H1 2018 FY 2018 H1 2019

DSO (DAYS SALES OUTSTANDING)

56


NOVEMBER 2019

FACTOR (DAYS OF REVENUE)

37

32

41

37

42

34

49

40

51 52

FY 2014 H1 2015 FY 2015 H1 2016 FY 2016 H1 2017 FY 2017 H1 2018 FY 2018 H1 2019

57


NOVEMBER 2019

HEADCOUNT (END OF PERIOD)

12,133 13,055

15,180 17,144

20,90114,913

15,18015,515

16,28816,619

17,144

21,019 20,90420,624

20,901

Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19

+1.3%

58


NOVEMBER 2019

TURNOVER RATE (YTD)

17.6% 17.9% 17.6%17.1% 17.7% 18.0% 17.6% 17.2%

18.5%19.3% 19.2%

20.1%20.8%

23.3% 23.1%

Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18* Q1 19* Q2 19* Q3 19*

-20 bps

* Excluding PDS Tech

59


NOVEMBER 2019

UTILISATION RATE (YTD)

87.8%

88.9%89.5% 89.6%

88.9%89.6% 89.6% 89.7%

88.9%

89.7%89.9%

89.6%

88.3%

89.1%89.5%

Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18* Q1 19* Q2 19* Q3 19*

+40 BPS

* Excluding PDS Tech

60


NOVEMBER 2019

GLOSSARY

Cash flow from operations before tax andfinancing costs (EBITDA): operating profit adjustedfor additions to depreciation and amortization.

EPS (Earnings Per Share): group net income dividedby weighted average number of sharesoutstanding less treasury stocks.

Free cash flow: EBITDA +/- change in workingcapital – net financial charges and taxes paid –capex. Free cash flow generation is measured as %of total revenue.

Leverage: ratio of net consolidated financial debtto EBITDA.

Net Debt: The aggregate of cash and cashequivalents, overdrafts and short-term bankborrowings, non-current and debt, and financialinstruments. surplus cash/(net debt) does notinclude non-current and current lease obligations(IFRS 16 impact).

Operating profit: profit form ordinary activitiescalculated before non-recurring items andexpenses relating to stock options and free shares.

Operating margin: ratio of operating profit torevenue.

Organic growth: Revenue growth at constantscope and exchange rates.

Pro forma growth: revenue growth in NorthAmerica at constant exchange rate and includingPDS Tech H1-18 revenue in total H1-18 revenue.PDS Tech is consolidated as of 1st November 2018.

61NOVEMBER 2019

ROADSHOW PRESENTATION · and the value chain • in their international expansion, globalisation and digitalisation • Boost our client’s performance through innovation, increased

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