Econocom - 2019 Universal registration document

115 2019 annual report 05 management report rofit for the year KEY FIGURES BY GEOGRAPHICAL AREA 2.1.2. Revenue breaks down as follows: in € ڳ millions 2019 2018 restated (1) Change based on like-for-like standards France 1,545 1,510 4.6% Benelux 391 395 (1.1%) Southern Europe/Morocco 529 621 (10.5%) Northern and Eastern Europe 261 265 7% Americas 200 207 (3.2%) Total revenue 2,927 2,999 0.0% Before amortisation of intangible acquisition assets. (1) The increase in France stemmed from the good performance in the Digital Services & instead of Solutions business lines, which offset the slight decline in Technology Management & Financing. Contraction in the Benelux area was driven mainly by Technology Management & Financing in the Netherlands, despite strong performance by the DSS business. Restated for the fall in revenue of TMF in Italy, organic growth in Southern Europe and Morocco is estimated at about 10% thanks to good performances in Spain and of the DSS activity in Italy. 2019 Southern Europe turnover of €528.6 million breaks down as €306.4 million for Italy and €222.2 million for Spain. In 2018 the corresponding figures were €397.9 million for Italy and €201.4 million for Spain (after an IFRS 16 restatement of €21.9 million). Northern and Eastern Europe recorded slight organic growth on a like for like basis, essentially thanks to the Technology Management & Financing activity in the United Kingdom. The Americas region fell back slightly after two years of very strong growth, thanks primarily to major Technology Management & Financing contracts.