MARKET INFORMATION AND RESUMPTION OF TRADING

MARKET INFORMATION AND RESUMPTION OF TRADING ON MONDAY, MAY 24, 2021

During the meeting of the Audit Committee on May 20, 2021, EY, auditor of Solutions 30, informed the company that it was not in a position to express an opinion on its 2020 accounts, without however submitting its final report which covers the bases of this inability to express an opinion. At the time of issuing this press release, the final audit report was not available.

In the meantime, the Supervisory Board of May 20, 2021 took note of EY’s position and confirmed the main 2020 financial aggregates, already communicated on April 28, 2021, which remain unchanged:

  1. 2020 revenue amounted to € 819.3 million, up 18%
  2. EBITDA is 106.5 million euros
  3. Adjusted EBIT is € 60.9 million
  4. A net cash surplus of 59.2 million euros

The group’s net income amounted to 34.5 million euros, after taking into account a correction proposed by the company and linked to the recognition of an additional tax charge of 2.4 million euros. . In the first quarter of 2021, revenue increased 19% to 225.2 million euros.

Action plan

The Management Board, in agreement with the Supervisory Board, has taken the following decisions in the interest of the group and its stakeholders:

  1. The annual general meeting of shareholders is scheduled for June 30, 2021, the regulatory deadline. The preparatory documents for this meeting will therefore be made available to shareholders on May 31.
  2. The group’s annual report will be published after receipt of the final audit report from EY. As a result, the company is still unable to provide a precise timeline for the publication of this report.
  3. The company is considering the possibility of appointing a new auditor.

EY’s assertion that it is unable to express an opinion is unusual in that it does not constitute an unqualified, qualified or unfavorable opinion.

This is a paradoxical situation for Solutions 30 since:

  1. The company has a solid financial structure and an economic model that has enabled it to finance its growth, while largely controlling its level of debt, as evidenced by its cash of 159 million euros in its bank accounts carried on his leaf balance as of December 31, 2020.
  2. Each year since 2005, the company’s accounts have been the subject of an unqualified opinion from its auditors, in particular from EY for the 2019 financial year, the year in which IFRS standards were adopted, and for review of the half-year financial statements as of June 30, 2020.
  3. The conclusions of the independent surveys carried out by Deloitte and Didier Kling Expertise & Conseil confirmed the financial information for previous years provided by the company, in particular its level of growth, its margin rates, the level and nature of its bank debt, the treatment accounting and level of invoices to be issued, software development costs, negative goodwill and non-operating income.

Faced with the possible consequences of this disclaimer, the group decided to refer the matter to the president of the commercial court of Bobigny in order to request that a conciliator be appointed to assist him and in doing so to anticipate the necessary answers or solutions. . to ensure the support of the group’s partners.

At the same time, Solutions 30 initiated a selection process for investment bankers in order to launch the search for key shareholders. The project, on which the company does not intend to comment beyond its legal obligations to do so, could go as far as delisting.

A group positioned in high growth markets

Positioned in fast-growing markets, the group employs 15,700 people in 10 European countries. Its clients include the largest groups and companies in Europe in the telecoms, energy and information technology sectors. Its job is extremely tangible: deploying optical fiber, connecting homes to the Internet, installing smart electricity meters or providing IT assistance to individuals and businesses.

Building on its recent commercial successes in Europe, particularly in Italy and Spain with high-speed Internet deployments and in Belgium with the installation of smart meters, Solutions 30 and all its teams are focused on providing the best service to their customers for supporting digital transformation and energy transition.

Resumption of exchanges

Despite the absence of an annual financial report and a precise timetable for its publication, the company asked Euronext Paris to resume listing of its shares (FR0013379484) as soon as the stock market opens on Monday, May 24.

About Solutions 30 SE

The Solutions 30 group is the European leader in solutions for new technologies. Its mission is to make the technological developments that transform our daily lives accessible to everyone, individuals and businesses. Yesterday it was computers and the Internet. Today it is digital technology. Tomorrow, it will be the technologies that will make the world even more interconnected in real time. With more than 30 million interventions carried out since its creation and a network of more than 15,700 local technicians, Solutions 30 currently covers the whole of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, Iberian Peninsula, the United Kingdom and Poland. The share capital of Solutions 30 SE is made up of 107,127,984 shares, equal to the number of theoretical votes that can be exercised.
Solutions 30 SE is listed on the Euronext Paris stock exchange (ISIN FR0013379484 – code S30). Indices: MSCI Europe Small Cap | Tech40 | CAC PME | SBF120 | CAC Mid 60. Visit our website for more information: www.solutions30.com

Contact

Individual shareholders Investor relations | Phone: +33 1 86 86 00 63 | [email protected]

Analysts / investors Nathalie Boumendil | Phone: +33 6 85 82 41 95 | [email protected]

Press – Picture 7 Leslie Jung | Phone: +44 7818 641803 | [email protected]

Larger flora | Phone: +33 6 33 13 41 50 | [email protected]
Charlotte Le Barbier | Phone: +33 6 78 37 27 60 | [email protected]

  • S30_PR_INFORMATION- 21-05-21


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