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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Altice Europe N.V.    ATC   NL0011333752

ALTICE EUROPE N.V.

(ATC)
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Altice Europe N : International - Q3 2020 Consolidated Financial Statements

11/25/2020 | 04:29pm EST

Altice International S.à r.l.

Condensed Interim Consolidated

Financial Statements

As of and for the three and nine-month periods ended

September 30, 2020

Table of Contents

Consolidated Statement of Income

1

Consolidated Statement of Comprehensive Income

1

Consolidated Statement of Financial Position

2

Consolidated Statement of Changes in Equity

3

Consolidated Statement of Cash Flows

4

Notes to the Condensed Interim Consolidated Financial Statements

5

1

About Altice International S.à r.l. and the Altice Group

5

2

Accounting policies

5

3

Significant events

7

4

Segment reporting

8

5

Goodwill

14

6

Financial assets

14

7

Other non-current assets

15

8

Shareholders' equity

15

9

Borrowings, other financial liabilities and lease liabilities

16

10

Fair value of financial assets and liabilities

21

11

Taxation

23

12

Net finance costs

24

13

Contractual obligations and commercial commitments

24

14

Litigation

24

15

Going concern

27

Altice International S.à r.l.

Condensed Interim Consolidated Financial Statements

Consolidated Statement of Income

Notes

Three months ended

Nine months ended

September 30, 2020

September 30, 2019

September 30, 2020

September 30, 2019

(€m)

(Unaudited & not

reviewed)

Revenues

4

1,021.2

1,028.8

2,956.4

2,997.4

Purchasing and subcontracting costs

4

(257.7)

(251.7)

(724.6)

(724.8)

Other operating expenses

4

(215.5)

(231.8)

(635.6)

(669.5)

Staff costs and employee benefits

4

(119.4)

(115.8)

(349.4)

(348.7)

Depreciation, amortization and impairment

4

(297.0)

(306.5)

(905.3)

(917.8)

Other (expenses) and income

4

(0.4)

(8.2)

66.1

(303.4)

Operating profit

131.2

114.8

407.6

33.2

Interest relative to gross financial debt Realized and unrealized (losses)/gains on derivative instruments linked to financial debt

Other financial expenses Finance income

Net result on extinguishment and remeasurement of financial liabilities

12

(105.2)

(149.8)

(432.1)

(453.4)

12

(164.7)

153.4

(51.1)

218.9

12

(17.3)

(102.6)

(123.0)

(92.0)

12

164.5

43.1

119.8

111.6

12

(15.0)

-

439.0

-

Finance (costs)/income, net

(137.7)

(55.9)

(47.4)

(214.9)

Share of (loss)/earnings of associates

4.3

(0.1)

2.5

(0.5)

(Loss)/profit before income tax

(2.2)

58.8

362.7

(182.2)

Income tax (expense)/benefit

11

(23.8)

(11.7)

(9.9)

56.8

(Loss)/profit for the period

(26.0)

47.1

352.8

(125.4)

Attributable to equity holders of the parent

(39.1)

47.7

335.2

(123.5)

Attributable to non‑controlling interests

13.1

(0.6)

17.6

(1.9)

Consolidated Statement of Comprehensive

Three months ended

Nine months ended

Income

September 30, 2020

September 30, 2019

September 30, 2020

September 30, 2019

(€m)

(Unaudited & not

reviewed)

(Loss)/profit for the period

Other comprehensive income/(loss)

Items that may be reclassified subsequently to profit or loss Exchange differences on translating foreign operations

Cash flow hedges - effective portion of changes in fair value

Cash flow hedges - reclassified to profit or loss

Fair value of financial assets through OCI Related taxes

Items that are not reclassified to profit or loss

Actuarial (loss)/gain

Related taxes

(26.0)

47.1

352.8

(125.4)

(19.8)

10.1

(9.3)

(38.1)

(11.7)

27.4

26.9

32.3

3.6

1.6

100.0

4.3

(1.0)

0.4

(1.0)

(0.3)

2.0

(7.1)

(42.0)

(9.1)

(26.9)

32.4

74.6

(10.9)

(18.7)

(13.1)

3.5

(58.7)

3.9

3.9

(0.8)

18.2

(14.8)

(9.2)

2.7

(40.5)

Total other comprehensive (loss)/gain

(41.7)

23.2

77.3

(51.4)

Total comprehensive (loss)/profit for the

(67.7)

70.3

430.1

(176.8)

period

Attributable to equity holders of the parent

(80.1)

69.7

413.7

(177.0)

Attributable to non‑controlling interests

12.4

0.6

16.4

0.2

The accompanying notes on pages 5 to 28 form an integral part of these condensed interim consolidated financial statements.

1

Altice International S.à r.l.

Condensed Interim Consolidated Financial Statements

Notes

As of

As of

(€m)

September 30, 2020

December 31, 2019

Non‑current assets

Goodwill

5

3,151.9

3,247.9

Intangible assets

1,215.8

1,438.1

Property, plant & equipment

3,435.3

3,521.3

Right-of-use assets

821.4

871.3

Contract costs

99.8

104.2

Investment in associates

14.7

16.0

Financial assets

6

3,108.9

1,805.7

Deferred tax assets

139.6

67.2

Other non-current assets

7

539.0

191.8

Total non‑current assets

12,526.4

11,263.5

Current assets

Inventories

120.5

130.9

Contract assets

33.6

36.5

Trade and other receivables

1,009.2

1,023.6

Current tax assets

27.1

50.9

Financial assets

6

181.1

38.6

Cash and cash equivalents

266.6

395.5

Restricted cash

36.3

37.5

1,674.4

1,713.5

Assets classified as held for sale

1.8

118.9

Total current assets

1,676.2

1,832.4

Total assets

14,202.6

13,095.9

Equity

Issued capital

8.1

309.3

309.3

Other reserves

8.2

(177.5)

(256.0)

Accumulated gains/(losses)

8

857.5

(583.1)

Equity attributable to equity holders of the parent

989.3

(529.8)

Non‑controlling interests

3.3

(1.4)

(12.3)

Total equity

987.9

(542.1)

Non‑current liabilities

Long term borrowings, financial liabilities and related hedging instruments

9

7,480.7

8,155.8

Other financial liabilities

9.7

1,366.9

690.3

Non-current lease liabilities

9.7

821.7

840.3

Provisions

902.9

977.5

Deferred tax liabilities

85.1

86.2

Non-current contract liabilities

56.1

61.6

Other non-current liabilities

33.5

31.9

Total non‑current liabilities

10,746.9

10,843.6

Current liabilities

Short-term borrowings, financial liabilities and related hedging instruments

9

30.1

288.4

Other financial liabilities

9.7

604.4

676.5

Current lease liabilities

9.7

85.3

82.8

Trade and other payables

1,341.3

1,412.7

Contract liabilities

133.6

117.5

Current tax liabilities

172.7

115.5

Provisions

86.0

78.4

Other current liabilities

14.3

22.4

2,467.7

2,794.2

Liabilities directly associated with assets classified as held for sale

0.1

0.2

Total current liabilities

2,467.8

2,794.4

Total liabilities

13,214.7

13,638.0

Total equity and liabilities

14,202.6

13,095.9

The accompanying notes on pages 5 to 28 form an integral part of these condensed interim consolidated financial statements.

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Altice Europe NV published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2020 21:28:00 UTC


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Sales 2020 14 984 M 18 093 M 18 093 M
Net income 2020 -203 M -245 M -245 M
Net Debt 2020 31 405 M 37 921 M 37 921 M
P/E ratio 2020 -26,0x
Yield 2020 -
Capitalization 6 494 M 7 852 M 7 842 M
EV / Sales 2020 2,53x
EV / Sales 2021 2,41x
Nbr of Employees 45 409
Free-Float 46,0%
Chart ALTICE EUROPE N.V.
Duration : Period :
Altice Europe N.V. Technical Analysis Chart | ATC | NL0011333752 | MarketScreener
Technical analysis trends ALTICE EUROPE N.V.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 4,82 €
Last Close Price 5,34 €
Spread / Highest target 82,7%
Spread / Average Target -9,68%
Spread / Lowest Target -25,0%
EPS Revisions
Managers and Directors
NameTitle
Alain Phillippe Romain Weill Chief Executive Officer & Executive Director
Patrick Drahi President & Executive Director
Jurgen van Breukelen Chairman
Armando Pereira Chief Operating Officer
Malo Pascal Jean-Pierre Corbin Chief Financial Officer
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