(CercleFinance.com) – The group announces a turnover of around 10.8 billion euros in 2021, down by around -2.4% at constant exchange rates. The group was aiming for a ‘stable’ annual target.
The difference comes from an unplanned reassessment of the costs remaining necessary for the transformation, the creation of a new platform and the management within the framework of a financial services contract, project delays from the end of 2021 to 2022 in Big Data. / HPCs and Unified Communications & Collaboration, postponements to 2022 of planned final agreements with several large customers and reduction of low-margin hardware and software resale activities in December 2021.
The operating margin rate is around 4% of sales in 2021. The annual target was around 6%.
Free cash flow is around -420 million euros. The difference with the annual objective of ‘positive’ is mainly due to the variation in the working capital requirement.
The Net Debt at the end of December 2021 is estimated at around -1.2 billion euros. Taking into account the Worldline shares held to cover the Exchangeable Bond for Shares, the Net Debt to EBO ratio is estimated at around 0.8.
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