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Adevinta Interim / Quarterly Report 2021

Aug 30, 2021

3520_rns_2021-08-30_059ff083-402e-467a-8f75-ba3c72a4f2ef.pdf

Interim / Quarterly Report

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Adevinta

Consolidated financial and analytical info as of Q2 2021

Contents (each item on separate tabs):

  • Profit and loss statement ー
  • Balance sheet
  • Cash flow
  • Segment information ನ ಗ ಗ ಕ
    • Segment details ம

For questions, please contact Adevinta IR:

www.adevinta.com/ir [email protected]

Full year
2018
594.6 (201.3)
242.3)
151.0 (26.5)
6.8
56.6) (6.3) 68 4 (14.1) 54.3 (61 3) (7.0) 0.4
(7.4)
Full vear
2019
680.3 246 0)
234 8
199 5 45.3)
5.9
24.6) 12 8) 122,8 (6.1) 116.7 (49.6) 67.1 64.0
3.1
Full year
2020
673.5 258 0)
(233 0)
182.5 60.6)
16.2
42.8) 39 4 55.9 (94.7) (38.8) (31.0) (69.8) 1.8
(71.6)
2020 319.5 128 6)
(112.1
78.8 (28.6)
2.4
(4.5) 48.1 (67.4) (19.3) (20.8) (40.1) (0.8)
(39.3)
Year to date Year to date
2021
375 1381
(131
106 (29
(7
(20 97 (48) (7) 54 (23) (77 81)
3
CONDENSED CONSOLIDATED
INCOME STATEMENT
2 quarter
2021
Operating revenues
193
Other operating expenses
(68) Personnel expenses
(72)
Gross operating profit (loss)
53
Share of profit (Joss) of joint ventures and associates
Depreciation and amortisation
14)
(7)
Impairment loss
5
Other income and expenses
(72)
(35) Operating profit (loss) Net Financials
11
(24) Profit (loss) before taxes Taxes
(16)
(40) Profit (loss) Profit (loss) attributable to:
Non-controlling interests
Owners of the parent
(43)
1 quarter
2021
182.1 (89 a)
59.2)
53.0 (0.1)
(15.1)
25.1) 25.1 (12.4) (17.7) (30.1) (7.2) (37.3) 0.9
(38.2)
4 quarter
2020
182.9 (67.5)
(65 8)
49.6 17 3
14 7
(42.8) (10.0) (5.8) (0.9) 6.7 4.7 (2.0) 1.8
(3.8)
3 quarter
2020
171.1 (61 8)
55.2)
54.1 (0.9)
14.7
24.9) 13.6 (26 3) (12.7) (15.0) (27.7) 0.9
(28.6)
2 quarter
2020
145.0 59 0
(47.3
38.7 14.9
2.0
(3.4 22.4 (16.8 5.6 8.8 3.2 3.2)
2020 174.5 (89.6)
64.8)
40.1 13.7
0 4
(1.1 25,7 (50.6) (24.9) (12.0) (36.9) 36.1)
(0.8)
2 quarter
2019
184.3 68.8)
0
66
49.6 4 3
(13.2)
24.3) (3.9) 12.5 (2.4) 10.1 (6.4 3.7 2.6
1.1
2019 165.4 58.2)
(55.6)
51.7 10.4
1.1
(0.0) (1.4 41.0 (2.6) 38.4 16.2) 22.2 0 9
21.3
2019 170.3 62.9)
55.
52.3 (3.8)
10.4)
0.0 5 8) 32.3 (0.9) 31.4 (13.2) 18.2 0.6
17.6
2019 160.2 (55.5)
(58.7)
46.0 4 2
11.2
(0.3) (1.7 37.0 (0.2) 36.8 13.8) 23.0 0.5
22 5
4 quarter
2018
158.5 1.2)
(60.7)
51
46.6 3.0
(7.7)
(47.7) (6.2) (12.0) (2.5) (14.5) (14.8) (29.2) 29.5)
0 3
3 quarter
2018
144.4 (49 4)
(58.6)
36.3 0.8
6.3
0.1 0.7 31 6 (2.6) 28.9 (14.6) 14.3 0.6
3.7
2 quarter
2018
151.4 (50.1)
(61.7)
39.6 6.2)
2.6
8.9) (0.2 26.9 5.1 21.9 (17.2) 4.7 (0.1)
4.8
EUR million
1 quarter
2018
140.2 (50.5)
(61.2)
28.5 6.2
0.4
0.2 (0.6) 21.9 (4.0) 17.9 (14.7) 3.3 (0.4)
3.6
STATEMENT OF FINANCIAL POSITION
CONDENSED CONSOLIDATED
EUR million
30.06
2021
31.03
2021
31.12
2020
30.09
2020
30.06
2020
31.03
2020
31.12
2019
30.09
2019
30.06
2019
31.03
2019
2018
31.12
2018
30 09
2018
30.06
2018
31 03
ntangible assets
ASSETS
13,216 276.5 1,321.8 1,364.2 1.390 1 1,386.8 1,394.8 1,326.9 1.326.7 1,308.5 1,301.0 1.345 1 1,340.7 1,354 1
Property, plant and equipment and right-of-use assets 133 102.0 9
108.
111.7 117.5 7
122.
85.9
85.
87.7 6
82.
8
19.
ci
17
9
16.
18.3
nvestments in joint ventures and associates 390 350.2 0
369
266 6 289.2
306.
381.1 9
375.
8
389 :
0
385.
ర్
375.
ర్
355
0
370.
399.1
Other non-current assets 211 188.6 184 8 24 0 24 0 21.8 4
16
14 1 12 1 14 1 13.2 7
11.
C
12
13.2
Non-current assets 13,949 .917 3 1,984,1 1,766,5 1,820,8 1,837,3 1,878,1 1.802.1 1,816,4 1,790,4 1,709,2 1,729.6 1,739,8 1,784 7
Trade receivables and other current assets 244 206.5 1.208.3 131.9 153.0 56.9 169.9 140.6 53.5 277.2 389.2 259.8 361.3 317.9
Cash and cash equivalents 170 144.9 131.0 326 7 308 3 9
89.
71.8 රි
86.
64 9 53.0 55.1 ﺩﺍ
50
1
38.
30.7
Assets held for sale 87 7.9 33.9
Current assets 501 359 3 1.339.3 492.5 461.3 246.4 241.7 227 6 218.4 330.3 444 3 310.3 399.4 348.6
Total assets 14,450 3.276.6 3.323.4 2.259.0 2.282.1 2.083.7 2,119.8 2.029.6 2.034.8 2.120.7 2,153.5 2.039.9 2.139.2 2.133.3
EQUITY AND LIABILITIES
Equity attributable to owners of the parent 10.311 220.0 1,202.5 1,276.3 1,381.3 1.405.1 .4
1.524
1.520.8 1.513.8 1,347.8 1,317.8 1,330.6 1,209.7 1,243.7
Non-controlling interests
Equity
15
10,326
20 7
.240.7
19.2
1,221.7
17 4
1,293.7
15.9
1,397.2
15 4
1,420.5
1,538.8
4
14
1,537.5
16.7
15 4
1,529.2
14.8
1,362.6
13 9
1,331.7
1,345.8
ﺮ ﺍﻟﻤﺮﺍﺟﻊ ﺍﻟﻤﺴﺎﺣﺔ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍ
15
14 7
1,224,4
15.6
1,259.3
Non-current interest-bearing borrowings 2,287 276.2 1.266.2 194 7
198.
.8
87
201.7 151.4 51.3 418 7 9
448.
9
352.
561 3 512.1
Other non-current liabilities 1,283 142.5
153
0
88
187.8 8
202

147
140.1 143.3 9
133
9
76.
9
72
74 4 74 9
Non-current liabilities 3.570 .418.7 1.419.6 382.7 386.0 390.6 349 5 291.6 294.6 552.2 0
525.
425 2 635 7 586.9
Current interest-bearing borrowings 151 302.2 294.8 224 4 223.9 0.2 0.3 0.4 0.4 0.0 0.0 0.0 9
0.
0.5
Other current liabilities 385 307.1 387 3 351.1 275.0 272.4 231.2 200 2 210 5 ర్
205
8
296.
ర్
268
9
278
286.6
Liabilities directly associated with the assets held for sale 19 7.9 7.1
Current liabilities 555 617 2 682.1 582 6 498.9 272.6 231 5 200 6 210.9 205.9 296.8 269.0 279.1 287.1
Total equity and liabilities 14,450 3.276.6 3,323,4 2,259.0 2.282.1 2,083.7 2.119.8 2,029.6 2.034.8 2.120.7 2.153.5 2.039.9 2.139.2 2,133.3

Q2 2021 Financials and analytical information

CONDENSED CONSOLIDATED
STATEMENT OF CASH FLOWS
(EUR million)
30 06
2021
31.03
2021
31.12 2020 30.09
2020
30.06 2020 31.03 2020 31.12 2019 30.09 2019 30.06 2019 31.03 2019 31.12 2018 30.09
2018
30.06 2018 2018
31.03
CASH FLOW FROM OPERATING ACTIVITIES
Profit (loss) before taxes (54) (30.1) (38 8) 32.1) (19.3) 24.9) 116.7 106.6 68.2 36.8 54 3 68.7 39.8 17.9
Depreciation, amortisation and impairment losses 49 40.2 103.4 43.3 28.6 13.7 69.9 32.4 22.0 11.6 83.1 27.7 21.5 6.4
Net effect pension liabilities ı (0.2) (0.2) (0.1) 0.2
Share of loss (profit) of joint ventures and associates 0.1 (16.2) (1.5) (2.4) (0.4) (5.9) (1.6) (0.5) (4.2) (6.8) (3.8) (3.0) (0.4)
Dividends received from joint ventures and associates లు 1.2 2.2 2.2 1.1 1.4 - 1.5 1.5 0.3
Taxes paid (23) (9.1) (41.7) (23.0) (13.8) (0.6) (63.6) (40.1) (26.7) (12.4) 53.7) 25.1)
Sales losses (gains) on non-current assets and other non-cash losses (gains) 39 11.3 (6.1) (2.4) (0.7) (0.3) (0.3) 0.0 (1.3) (દા ) (દ ધરા (0.0) 12.2) (0.0)
Net loss on derivative instruments at fair value through profit or loss (0.9) 78.9 76.1 54.6 42.0
changes in working capital and provisions
Other non-cash items and
17 26.0 23.0 27.2 9.0 13.0 16.3 9 4 7.8 19.3 12.8 9 4
Net cash flow from operating activities 41 38 7 104 7 89,8 56.0 42.8 134.1 107.7 70.8 51.0 681 () દી 64.3 42 8 55 ปี 197
CASH FLOW FROM INVESTING ACTIVITIES
Development and purchase of intangible assets, and property, plant and equipment (22) (10.6) (43.5) 32.9) (22.6) 11.3) (48.5) (33.5) 22.8) (9.6) 30.7) 19.2) (11.9) (5.3)
of cash acquired
Acquisition of subsidiaries, net
(2,164) (1.5) (7.4) (7.5) (7.5) (7.5) (78.8) (10.9) (10.3) (3.1) (1.5)
Acquisition of debt and equity instruments of joint ventures and associates l 286 9)
sale of intangible assets, and property, plant and equipment
Proceeds from
0 (0.0) (0.0) 0.0 0.0 0.2 0.4 0.5 0 6 0.0
Proceeds from sale of subsidiaries, net of cash sold 282 14.8 30.9 0.2 0.2 - 0.1 0.1
Net sale of (investment in) other shares (1 (0.8) (7.5) (4.7) (3.5) (0.7) (10.7) (8.7) (7.0) (6.1) (3.3) (1.8) (0.9)
Net change in other investments 0 (2.8) 0.3 (0.5) (0.0) 0.9 1.0 (0.2) (0.3) 2.8 2.1 0.8
Net cash flow from investing activities (1,905) 1.9 (317.2) 44.6) 33.9) 19.5) (137.0) 52.1) (40.4) 15.9) 33.8) 19.8) (11.4) 5.2)
Net cash flow before financing activities (1,864) 40.6 (212.5) 45.2 22.1 23.3 (2.9) 55.5 30 ર 35.2 40.1 44 5 31 4 19.9
CASH FLOW FROM FINANCING ACTIVITIES
New interest bearing loans and borrowings 2,432 l 491.3 223 9 223.4 (0.7) 199.2 149.1 148.6 0.4 0.4 0.4 0 3
Repayment of interest-bearing loans and borrowings (490) l (205.1) (0.3) (0.0) (0.4) (0.4) (0.0) (0.0)
Change in ownership interests in subsidiaries l - (100.2) (100.2) (100.1) (100.1) (11.0)
Capital increase i - 7.9 7.8 7.8
Net sale (purchase) of treasury shares (22) (22.4) (2.0) (2.0) (2.0)
FRS 16 lease payments (B (4.3) (12.5) (9.7) (6.3) (3.6) (12.8) (9.1) (6.2) (2.9)
Dividends paid to owners of the parent ı (0.0)
Dividends paid to non-controlling interests (8 (3.6) (3.4) (2.0) (1.5)
Net financing from (to) Schibsted ASA 70.9) (1282) (6 02) 70.9) 65.8 (8.9) 30.7) 29.5) (9 97) (9 97
Net cash flow from financing activities 1,903 (26.7) 271.7 212.2 214.8 (4.3) 19.2 (20.8) 37.3) 22.9) 32.3) 30.7)
Cash and cash equivalents relating to the disposal group (80) (2:1)
Effects of exchange rate changes on cash and cash equivalents (0) - (0.4) (1.3) 0.3 (0.0) 0.4 0.8 (0.0) (0.1)
Net increase (decrease) in cash and cash equivalents 39 13.9 59.2 254.9 236.5 17.7 16.6 31.8 9.7 (2.1) 17.7 13.0 0.7 (6.7)
Cash and cash equivalents at start of period 131 131.0 71.8 71.8 71.8 71.8 55.1 55.1 55.1 55.1 37.4 37.4 37.4 37.4

3. Cash flow

30.7

38.1

50,5

55.1

53.0

64.9

86.9

71.8

89.5

308.3

326.7

131.0

144.9

170

Cash and cash equivalents at end of period

Q2 2021 Financials and analytical information

Full vear 2018 restated 594.6 306 6 160.0 68.9 54 6 7.0 102 5) 151.0 169 3 47.1 2.6 (25.6) 32.0) (10.3)
Full vear 2019 restated 680.3 357 4 82. 86.0 164. 12. 122. 199.5 191.3 60.5 6. 15. 61.0 13.0
Full vear 2020 673.5 393 2 164.، 73. 145 8 0
ರಿ
112.4 182.5 190.9 52.6 12.9 9
8
60 € .9
21
2020 319.5 83 5 79. 32. 69 3 4.5 (49.9 78.8 87.8 24.5 7 0 9
3
(31.5 12.6)
Year to date Year to date 2021 374.8 228 91.7 56.7 . B
73
5 81.1 105.8 109.0 28. 1.1 5
9
31.5 6.9
FINANCIAL SEGMENTS Operating revenues Adevinta Group
192.7
France
116.7
Spain
47.9
Brazi
30.0
Global Markets
38.1
Other/Headquarters
2.9
Eliminations
(42.8)
EBITDA 52.8 Adevinta Group France
53.7
Spain
15.8
Brazil
(3.4)
Global Markets
2.1
6.1) Other/Headquarters
1
Eliminations
0.7
2 quarter 2021 8 6 C .5
1 quarter 2021 182.1 111.7 43. 26. 35.8 2. 38.2 53.0 55.3 12. 4 5 3 55
4 quarter 2020 182.9 109 6 43 24.5 39 3 3 (37.3 49.6 52.9 13.3 2. (1.3 14.0 (3.4
3 quarter 2020 171.1 00 .9
41
16 37. 1.0 25.1 54.1 50 14.8 3.8 3
9
5.1 ಲ್ಲ
2 quarter 2020 145.0 86.0 33.0 13.4 32.1 2.4 21.9 38.7 40.8 10.8 4 6 1.5 11.5 (7.6)
1 quarter 2020 174.5 97.5 46.4 19.3 07 5 28 27.9 0 לל 1.08 T
13.7
5 ਦੇ ਹੋ 20.0 5.0
4 quarter 2019 restated 84.3 101.5 6
46.

23.
42.0 3.3 32.6) 49.6 49. 6.4 4.8 1.2 6.9 ്ച
ട്ട
3 quarter 2019 restated 165.4 7
85.
45.3 0
22
40.9 30 8 51.7 48.3 16.0 3.4 6.5 17.8 8
7
2 quarter 2019 restated 170.3 5
88.
46.0 20 3 41.8 ల్ల 29.2 52.3 48.2 9
5
(7.0 5. 14.2
1 quarter 2019 restatec 60.2 81.7 43. 20 5 39 4 4.3 g
29
46.0 45. 12.6 4.8 0
12. . 7 4
4 quarter 2018 restated 58.5 .5
81
41.4 8
19.
41.4 3. 29.4 46.6 9
46.
11.8 5.1 3.5 6.2 3.2
3 quarter 2018 restated 44.4 73 40. 17.0 37.7 0 4 24.5 36.3 39.9 ರಿ
12.
3.6 5.0 0.6 9
9
2 quarter 2018 restated 51.4 S
78.
40.4 17.4 39. 1.9 25.8 39.6 42.2 13.0 1.8 9
7.8 6
EUR million quarter 2018 restated 140.2 73. 37.9 14. 36.4 1.0 22.9 28.5 40.7 ત ર 2.3 11 4 8.5 4.1
5. Segments details
restated
Full vear
2018
16%
594 6
443 5) 151 0 25% 306 6 18% (137-3) 169 3 ട്ടം 160 0 16% (112 9) 47.1 29% દર્ભ વિ 29% (66 3) 4%
26
1546 11% 180.2)
(25 6)
17.5 (43.1) 7.0 85% (39.0)
32 0)
(102 5) (10.3) 49 4 5.1 644.0 18% (487 8) 156 2 24%
Full year
restated
2019
14%
680 3
(480.8) 199 5 29% 357 4 17% (166 1) 191.3 54% 182.0 14% (121.5) 60 5 33% 86.0 25% (80.0) 7%
6.0
164.1 6% (148 4)
15.7
25.5 (98) 10% 12.8 83% (73.8)
61.0)
(122 1) (13.0) 59.2 6.5 739.5 15% (533 4) 206 1 28%
Full vear
2020
-1%
673 5
(490 9) 182 5 27% 393 2 10% (202 3) 190 9 49% 164 7 -9% (112.1) 52 6 32% 73 3 -15% (60 4) 18%
12.9
145 8 -11% (137 2)
8 6
25 4 (168) 6% 8 9 -31% (69 5)
(60 6)
(112 4) (21.9) 53 7 11.0 727.2 2% (533 7) 193 5 27%
Year to date
2020
-3%
319 5
(240 8) 78 8 25% 183 5 8% (95.7) 87 8 48% 79 4 -12% (54.9) 24 5 31% 32 7 20% (25 7) 21%
70
69.3 -15% (65 8)
3 5
10.7 (72) 5% 4.5 38% (36.0)
(31 5)
(49.9) (126) 24.2 6 3 343 8 -4% (258 7) 85 0 25%
Year to date
2021
17%
374.8
(269.0) 105 8 28% 228 4 24% (119 4) 109 0 48% 91.7 15% (63 0) 28.7 31% 56.7 73% (55 6) 2%
1.1
73.9 7% (68 4)
5.5
11.9 (6.4) 5.2 15% (36.7)
(31 5)
(81.1) (6.9) 37 8 3 4 412 6 20% (303 4) 109 2 26%
SEGMENTS
FINANCIAL
2 quarter
2021
Adevinta total 33% YOY revenue growth
192.7 Operating revenues
139.9) Operating expenses 52 8 EBITDA 27% EB TDA-margin 116.7 Operating revenues
France
36% YOY revenue growth (63.0) Operating expenses 53 7 EBITDA 46% EBITDA margin Spain 47.9 Operating revenues 45% YOY revenue growth (32.1) Operating expenses 15 8 EBİTDA 33% EBITDA margin Brazil 30.0 Operating revenues 124% YOY revenue growth (33.4) Operating expenses -11% EBITDA marqin
(3.4) EBITDA
Global Markets 38 1 Operating revenues 19% YOY revenue growth 35.9) Operating expenses
EBITDA
2.1
- of which developed phase
6.1
- of which investment phase
(3 9)
6% EBITDA-margin HQ/Other Operating revenues
2 9
18% YOY revenue growth 19.0) Operating expenses
16 1) EBITDA
(42.8) Operating revenues
Eliminations
0.7 EBITDA Joint Ventures 1 Operating revenues
19.9
(0 3) EBİTDA Adevinta total proportional incl. JVs 212.6 Operating revenues 36% YOY revenue growth 60 1) Operating expenses 52 5 EBITDA 25% EBITDA margin
1 quarter
2021
4%
182.1
(129 1) 53 0 29% 111.7 15% (56 4) 55 3 50% 43 8 -6% (30.9) 129 29% 26 7 38% (22 2) 17%
4 5
35 8 -4% (32 5)
3.3
5 ક (2 5) 9% 23 12% (17 8)
(15 5)
(38 2) (7.5) മിക്കുകയുടെ ക പ്രവര 200 0 6% (143 2) 56 8 28%
2020 182 9
-1%
133 3) 49 6 27% 1096 8% (56.7) 52 9 48% 43 4 -7% (30.1) 1333 31% 24 5 6% (22 4) વેન્ત્વ
2.1
39.3 -6% (40 6)
(1.3)
5.4 (6.7) -3% 34 3% (17 4)
(14 0)
(37 3) (3.4) 17.3 200.2 0% 148 8) 51 3 26%
2020 171.1
3%
116.9) 54.1 32% 100.1 17% (49.9) 50.2 50% 41.9 -7% (27.1) 14 8 35% 16.0 -27% (12.2) 24%
3.8
37.1 9% (30 8)
6.3
9.3 (2.9) 17% 1.0 -56% (16.1)
15.1)
(25.1) (6.1) 12.2 3.0 183 3 2% 126.1) 57.1 31%
2020 -15%
145 0
(106.4) 38.7 27% 86.0 -3% (45.1) 40 8 47% 33.0 -28% (22.2) 10 8 33% 13 4 -34% (8 8) 34%
4 6
32.1 23% (30 6)
1.5
5.5 (3.9) 5% 2.4 -17% (11,5)
(14.0)
(21.9) (7.6) 10.7 3 8 155 8 -16% (113 3) 42 5 27%
2020 174 5
9%
134 4) 40.1 23% 97 5 19% (50 6) 47 0 48% 46.4 6% (32 7) 1377 30% 18 3 6% (16.9) 13%
2.4
37.2 -6% (35 2)
20
5.3 (3 3) 5% 20 53% (22 0)
20 0)
(27.9) (5 0) 13 5 25 188 0 8% 145 4) 42 6
rastated
2019
184.3
16%
134.7) 49 6 27% 101.5 25% (51 8) 49.7 49% 46.9 13% (30.5) 16 4 35% 23,2 17% (18.5) 21%
4.8
42.0 1% (40.9)
1.2
5.2 (4.1) 3% 3.3 -11% (20.2)
(16 9)
(32 6) (5.5) 158 28 200.2 16% 147 8) 52 4 26%
4 quarter
restated
2019
15%
165 4
(113.7) 51.7 31% 85 7 17% (37.4) 48 3 56% 45.3 13% (29.2) 16.0 35% 22.0 29% (18 6) 16%
3 4
40.9 8% (34 4)
6.5
7.0 (0.5) 16% 2.3 434% (20.1)
(17.8)
(30.8) (4.8) 14.9 2 4 180.3 15% 126 3) 54.1 30%
restated
2019
170 3
12%
(118 0 52.3 31% ୫୫ ୧ 13% (40.2 48 2 ﺍﻟﻤﺴﺎﻋﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻟﻤﺘ 46.0 14% (30 6 15 5 34% 20 3 17% (27.3 (7.0
-35%
41.8 7% (36 7
5.1
6.7 (1.7 3 0 59% (17.1
14 2
(29 2 14 3 (2.4 184 6 13% 134 7 49 9 27%
restated
2019
14%
160 2
(114 2) 46 0 29% 81.7 12% (36 6) 45 1 55% 43 8 16% (31.2) 12 6 29% 20 5 38% (15 7) 4 8
24%
39 4 8% (36 4)
2 9
6 5 (3 5) 7% 4 3 313% (16.4)
(12.1)
(29 5) (7.4) 14.1 37 174 4 15% (124 7) 49 7 29%
4 quarter
restated
2018
158.5
15%
(111.9) 46 6 29% 81.5 16% (35.0) 46 5 57% 41.4 13% (29 6) 11 8 28% 1988 32% (24 9) 26%
(5.1)
41.4 11% (45.0)
(3.5)
4.4 (7.9) -9% 3.7 77% (89)
(6.2)
(29 4) 3.2 14.1 (1 6) 172 6 16% (127 6) 45.0 26%
3 quarter
restated
2018
15%
144 4
(108.1) 36.3 25% 73.6 17% (33.6) 39 9 54% 40.2 17% (27.4) 12.8 32% 17.0 25% (13.3) 21%
3.6
37.7 9% (42.7)
(5.0)
5 5 (10.5) -13% 0.4 26% (10.0)
(9 6)
(24 5) (5.5) 12.1 2.7 156 6 16% 117 5) 39 1 25%
restated
2018
151 4
18%
(111.8) 39 6 26% 78.5 21% (36 3) 42.2 54% 40.4 17% (27.4) 13 0 32% 17 4 41% (15 6) 10%
1.8
39.1 11% (44 7)
(5 6)
53 (10.9) -14% 1.9 193% (9 6)
(7.8)
(25 8) (3.9) 12.4 2.0 163 8 21% (122.2) 41 6 25%
2 quarter
1 quarter
restated
2018
17%
140 2
(111 7) 28 5 20% 73 0 18% (32 4) 40 7 56% 37.9 18% (28 5) વે ર 25% 14 7 18% (12 5) 15%
2.3
36.4 13% (47 8)
(11 4)
2.5 (13 9) -31% 1.0 121% (95)
(8 5)
(22.9) (4 1) 10 8 2.0 151.0 18% (120 5) 30 5 20%

Investment phase; Chile (sold in Q1 2021), Mexico, Belarus, Tunisia (sold in Q4 2020), Moroco (sold in Q4 2020), Dominican Rr Global Markets consolidated assets:
Developed phase: Italy, Ireland, Hungary, Colombia (sold in Q4 2020)