Operating income from ordinary activities measures the operational performance of fully consolidated Group subsidiaries. It excludes share-based payment expense (IFRS 2), certain recurring operating items (including the share of profit or loss of companies accounted for under the equity method), together with non-recurring operating items.
Recurring operating income is obtained by taking operating income from ordinary activities and adding the IFRS 2 expense associated with share-based payments (chiefly Group savings plans and performance share plans), the Group’s share of profit or loss of subsidiaries accounted for under the equity method, and other recurring operating income and expense. The latter category includes recurring income and expense relating to companies accounted for under the equity method and to non-consolidated companies (financial income from shareholder loans and advances granted by the Group to some subsidiaries, dividends received from non-consolidated companies). Recurring operating income represents the Group’s operational performance excluding the impact of non-recurring transactions and events during the period.
Operating income is calculated by taking recurring operating income and adding non-recurring income and expense, which mainly includes goodwill impairment losses, restructuring charges and income and expense relating to changes in scope (capital gains or losses on disposals of securities and the impact of changes in control).
| (in € millions) | 2021 | 2020 |
|---|---|---|
| Revenue (*) Concession subsidiaries’ revenue derived from works carried out by non-Group companies Total revenue |
Revenue (*) Concession subsidiaries’ revenue derived from works carried out by non-Group companies Total revenue 202149,396586 49,982 |
Revenue (*) Concession subsidiaries’ revenue derived from works carried out by non-Group companies Total revenue 2020 43,234696 43,930 |
| Revenue from ancillary activities (**) | Revenue from ancillary activities (**)2021248 |
Revenue from ancillary activities (**)2020 188 |
| Purchases consumed | Purchases consumed 2021(10,672) |
Purchases consumed 2020 (9,681) |
| External services (***) | External services (***)2021(5,533) |
External services (***)2020 (4,726) |
| Temporary staff | Temporary staff 2021(1,373) |
Temporary staff 2020 (1,178) |
| Subcontracting (including concession companies’ construction costs) | Subcontracting (including concession companies’ construction costs) 2021(10,424) |
Subcontracting (including concession companies’ construction costs) 2020 (9,262) |
| Taxes and levies | Taxes and levies 2021(1,105) |
Taxes and levies 2020 (1,105) |
| Employment costs | Employment costs 2021(12,488) |
Employment costs 2020 (11,642) |
| Other operating income and expense | Other operating income and expense 202167 |
Other operating income and expense 2020 (8) |
| Depreciation and amortisation | Depreciation and amortisation 2021(3,219) |
Depreciation and amortisation 2020 (3,171) |
| Net provision expense | Net provision expense 2021(760) |
Net provision expense 2020 (486) |
| Operating expenses | Operating expenses2021(45,507) | Operating expenses 2020 (41,260) |
| Operating income from ordinary activities % of revenue (*) |
Operating income from ordinary activities % of revenue (*)20214,723 9.6% |
Operating income from ordinary activities % of revenue (*) 2020 2,8596.6% |
| Share-based payments (IFRS 2) | Share-based payments (IFRS 2) 2021(288) |
Share-based payments (IFRS 2) 2020 (239) |
| Profit/(loss) of companies accounted for under the equity method | Profit/(loss) of companies accounted for under the equity method 202112 |
Profit/(loss) of companies accounted for under the equity method 2020 (146) |
| Other recurring operating items | Other recurring operating items 202117 |
Other recurring operating items 2020 38 |
| Recurring operating income | Recurring operating income20214,464 | Recurring operating income 2020 2,511 |
| Goodwill impairment losses | Goodwill impairment losses 2021(19) |
Goodwill impairment losses 2020 (95) |
| Impact from changes in scope and gain/(loss) on disposals of shares | Impact from changes in scope and gain/(loss) on disposals of shares 2021(7) |
Impact from changes in scope and gain/(loss) on disposals of shares 2020 167 |
| Other non-recurring operating items | Other non-recurring operating items 2021- |
Other non-recurring operating items 2020 (124) |
| Total non-recurring operating items | Total non-recurring operating items2021(26) | Total non-recurring operating items 2020 (52) |
| Operating income | Operating income20214,438 | Operating income 2020 2,459 |
(*) Excluding concession subsidiaries’ revenue derived from works carried out by non-Group companies.
(**) Revenue from ancillary activities mainly comprises rental income, sales of equipment, materials and merchandise, study work and fees other than those generated by concession operators.
(***) Including lease payments of €981 million in 2021 and €877 million in 2020 not restated following the application of IFRS 16: low-value leases, short-term leases and variable lease payments.
Non-recurring operating items represented a net expense of €26 million in 2021 and included:
In 2020, they produced a net expense of €52 million and included:
