Consolidated Financial Statements and Directors' Report

The report presents 2020 as a year shaped by Covid-19: revenues fell 5.0% in reported terms while EBITDA declined to €77M. Cash generation nevertheless reached €83M and net debt fell to €481M. The accounts report 49,027 people at year-end including new joiners from acquired companies, and the Group describes an implemented ISO 14001-based environmental management system. The separate Sustainability Report is referenced as an appendix to the Management Report but is not reproduced here.