– Revenue decreased by -0.2% in 2020, of which -0.6% organically
– Operating margin decreased to 9.7%
– Group share of net income at €40.8 million compared to €41.6 million last year
FY 2020 consolidated financial statements are available on our website:
Results for the full year 2020
Revenue reached €760.4 million for the full year 2020, decreasing -0.2% compared to 2019 and -0.6% at constant scope and exchange rates.
Changes in scope had a positive impact of 1 point of growth while variations in exchange rates had a negative impact of -0.6 point of growth. The working day impact over the year was favorable representing around 0.6 point of growth.
In the fourth quarter the Group achieved sales of €198.3 million, down -4.0% compared to the previous year and -4.9% at constant scope and exchange rates, a stronger decrease than the previous quarters. The continued effects of the COVID-19 crisis have been compounded by the acceleration of the loss of activity in Germany.
The operating margin stood at €73.7 million and 9.7% of the revenue in 2020.
The pressure on prices in 2020 had an effect on the Group performance leading to a decrease of -2% of our average daily price compared to 2019.
The operating income amounted to €71.9 million, including restructuring costs of €1.7 million, mainly in Germany, France and Spain.