ESI Group: FY 2019 Results: Improved Global Financial Performance

(1) The impact of IFRS 16 increases in the amortization and provision and thus an improvement in self-financing capacity of €+5.2 million, against the repayment of finance lease obligation in the financing part of the Cash Flow Statement for €-5.2 million.

Appendix 2

IFRS 16

Annual results Press Release
23/03/2020

New IFRS 16 applies to financial years commencing on or after January 1, 2019. It specifies how to recognize and measure lease assets and liabilities (property, plant and equipment – real estate and vehicles – and lease liabilities). The lease expense is now broken down between amortization and depreciation and the interest on the debt.

New IFRS 16 standard applies to financial years commencing on or after January 1, 2019. It requires lessees to recognize assets and liabilities for all non-short-term leases. ESI recognized right-of-use assets and liabilities related to leased offices and vehicles.

The lease expense is broken down between amortization of the right-of-use asset and the interest on the debt. IFRS 16 standard impact on 2019 EBIT remains limited at €0.2 million.

EBITDA (before IFRS 16) increased to €12.5 million (vs. €8.1 million), for a margin up to 8.4% of total sales (vs. 6.0%). EBIT (before IFRS 16) rose to €8.3 million (vs. €3.6 million).

IFRS 16 impacts:

  • EBITDA: 5.4
  • EBIT: 0.2



Contact:

ESI - Shareholder Relations
Florence Barré
investors@esi-group.com
+33 1 49 78 28 28

SHAN - Press & Shareholder Relations
Florent Alba
ESIgroup@shan.fr



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