Earnings release
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8 Guillemot CORPORATION Carentoir , March 25 , 2021 2020 ANNUAL RESULTS Guillemot Corporation's financial statements ( audited financial statements approved by the Board of Directors at its meeting of March 24 , 2021 , pending the statutory auditors ' report on certification ) are as follows : ( € m ) January 1 Turnover Dec 31 , 2020 Dec 31 , 2019 Change _ December 31 , 2020 120.6 60.9 + 98 % Thrustmaster 112.6 56.2 + 100 % Hercules 8.0 4.7 + 70 % Current operating income 19.0 -2.6 Operating income 23.1 -2.6 Financial income * 7.4 -4.6 Corporate income tax -0.7 0.8 Consolidated net income 29.8 -6.4 Basic earnings per share € 1.95 - € 0.42 * Financial income includes the cost of net financial debt as well as other financial expenses and income . The Group posted strong growth in the year , with full - year turnover up 98 % at € 120.6 million . The global COVID - 19 pandemic meant 2020 was an unusual year for the Group , characterized by a new market configuration . Consumers showed more interest in video games and enhanced their gaming equipment . Current operating income came in at a record € 19.0 million in 2020. Operating income totaled € 23.1 million after recognizing a reversal of impairment on the Thrustmaster brand , now valued in the financial statements at its original purchase cost of € 9.4 million . The accounting gross profit margin rose almost 5 percentage points . At the same time , total expenses were up 39 % , with the workforce increasing 7 % over the period . Financial income of € 7.4 million included a € 7.7 million revaluation gain on current financial assets ( available - for - sale securities ) consisting of 443,874 Ubisoft Entertainment shares . Consolidated net income for the year came in at € 29.8 million , compared with a consolidated net loss of € 6.4 million in 2019. At its meeting of March 24 , 2021 , the Board of Directors of Guillemot Corporation S.A. decided to propose the payment of a dividend of € 0.25 per share . In 2020 , the Group invested € 5.4 million in research and development , equating to 4.5 % of consolidated turnover . 1