Page 1

PRESS RELEASE 2020 FOURTH - QUARTER SALES AND FULL - YEAR RESULTS quadient Because connections matter . Quadient recorded a strong recovery in the second part of the year , leading to sustained profitability and strong free cash flow generation over the full - year 2020 Key highlights " ■ • • • Consolidated sales of € 1,029 million in 2020 , a contained organic decline of 7.3 % ¹ vs. 2019 ; Strong fourth - quarter sales performance , down 1.0 % organically , further improving from the sharp rebound achieved in the third quarter , driven by double - digits growth in Business Process Automation and Parcel Locker Solutions activities ; Current EBIT² of € 152 million in 2020 , or € 145 million excluding earn - out reversal³ ; Profitability maintained at a high level thanks to active cost management , with EBITDA margin of 23.9 % in 2020 ; Net attributable income of € 40 million in 2020 ; Strong free cash flow of € 167 million in 2020 , reinforcing the Group's robust liquidity position of € 914 million³ as at 31 January 2021 ; Net debt down by € 156 million vs. 2019 , leading to a low leverage of 0.4x excluding leasing as at 31 January 2021 ; Proposed dividend payment € 0.50 per share in respect of financial year 2020 ; Strategic update and financial trajectory to be unveiled today in a Capital Markets Day event ( please refer to the press release published today related to the Capital Markets Day ) . Paris , 30 March 2021 , Quadient ( Euronext Paris : QDT ) , a leader in business solutions for meaningful customer connections through digital and physical channels , announces today its 2020 fourth - quarter consolidated sales and full - year results . Geoffrey Godet , Chief Executive Officer of Quadient , stated : " In the context of the health crisis , Quadient has demonstrated both its strong resilience in the first part of the year and its ability to rebound quickly in the second part of the year . We are particularly pleased with the minor organic decline in revenue achieved in the fourth quarter , at just minus 1 % , driven by the outstanding growth of c . 88 % in Parcel Locker Solutions . These performances confirm the good trend already recorded in the third quarter 2020 . Thanks to our efforts and agility , we succeeded to mitigate the impact of the crisis while maintaining a sound level of profitability and a healthy balance sheet . With tight cost management measures in place , we achieved an EBITDA margin of close to 24 % , down only 80 basis points from the previous year . We also generated strong free cash - flows , leading to a significant reduction of our net debt while preserving a robust liquidity position . As a consequence and in accordance with its dividend policy , Quadient will propose , for approval by the Annual General Meeting of Shareholders , a dividend of 0.50 euros , the floor set under the " Back to Growth " strategic plan . " 1 FY 2020 sales are compared to FY 2019 sales , from which is deducted revenue from ProShip and the graphics activities in Australia and New Zealand and to which is added revenue from YayPay , for a consolidated amount of € 13 million , and are restated after a € 18 million negative currency impact over the period . Q4 2020 sales are compared to Q4 2019 sales , from which is deducted revenue from ProShip and the graphics activities in Australia and New Zealand and to which is added revenue from YayPay , for a consolidated amount of € 5 million , and are restated after a € 12 million negative currency impact over the period . 2 Current operating income before acquisition - related expenses . 3 Earn - out reversal of € 6.5 million related to Parcel Pending acquisition . 4 Cash flow after capital expenditure . 5 € 514 million of cash and € 400 million of undrawn credit line , the latter maturing in 2024 . 6 Including IFRS 16 . Audits of the full - year financial statements have been performed by the statutory auditors . The certification report will be issued after verification of the management report and final implementation of the required procedures and diligences for the annual financial report publication . 1/14