SECTION 1 -

For all of these products, recognized revenue comprises:
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New Services: Pro forma Financial Statements and Notes
December, 31, 2009
- Commissions received from client companies on the sale of prepaid vouchers and cards and all related amounts billed to
clients such as delivery costs, card sales and voucher customization costs. These amounts are recognized in revenue when
the prepaid vouchers and cards are issued and delivered to clients.
- Affiliate contributions, corresponding to the margin deducted from the amount reimbursed to the affiliate that provides the
service, and any related billings such as up‐front payments, monthly subscription fees and electronic payment terminal sales
or rentals. These contributions and billings are recognized in revenue when the vouchers or cards are issued to the extent
that the processing transaction cannot be dissociated from the issuance transaction, and an accrual is booked for the future
processing costs.
- Profits on vouchers and cards that expire without being reimbursed. To take into account commercial practices in each
country (refunds of expired service vouchers and other commercial gestures), these profits are recognized gradually once
the vouchers have expired.
- Revenue from advertisements printed on vouchers and cards. This revenue is recognized on the billing date to the
advertiser.
S.2.2 OTHER OPERATING REVENUE
Other operating revenue corresponds essentially to revenue from businesses integrated in the services business that do not
involve the issue of prepaid vouchers. The corresponding revenue is the amount received or receivable from sales of products
and is recognized on delivery of the voucher solutions, gift cards or other products.
S.3. FINANCIAL REVENUE
This is interest generated by investing restricted cash over the period between the vouchers' issue date and reimbursement date.
The interest represents a component of operating revenue and as such is included in the determination of revenue.
S.4. EBITDA
EBITDA includes operating income and expenses and rental expense.
S.5. DEPRECIATION, AMORTIZATION AND PROVISIONS
Depreciation, amortization and provision expenses reflect the operating costs of holding assets.
S.6. EBIT
EBIT corresponds to EBITDA after the operating costs of holding mainly non‐tangible assets. It is used as the benchmark for
determining senior management and other executive compensation, as it reflects the economic performance of the business.
It is also the basis for calculating the operating margin (EBIT/Issue volume ratio).
S.7. NET FINANCIAL EXPENSE
This item includes:
- Interest expense or income on borrowings, other financial liabilities and loans and receivables.
- Exchange gains and losses on financial transactions.
- Movements on financial provisions.