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
View source version on businesswire.com: https://www.businesswire.com/news/home/20200323005597/en/
Contact:
ESI - Shareholder Relations
Florence Barré
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+33 1 49 78 28 28
SHAN - Press & Shareholder Relations
Florent Alba
ESIgroup@shan.fr
