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Integrated presentation of Sopra Steria
Message from the Chairman  
Key figures for 2020  
1
2
3
2020 Parent Company Financial Statements
Income statement  
Balance sheet  
229
230  
231  
6.  
History and corporate plan  
Our mission and values  
Governance  
Corporate responsibility  
Business model and...  
4
5
6
7
8
9
10  
11  
12  
13  
14  
Cash flow statement  
1. Company description  
2. Significant events  
232  
233  
233  
234  
234  
240  
254  
3. Accounting policies  
4. Notes to the income statement  
5. Notes to the balance sheet  
6. Other information  
... value chain  
Breackdown of operations and the workforce  
Strategy and ambitions  
Risk management  
Financial performance  
Dialogue with investors  
Statutory Auditors’ report on the parent company  
financial statements  
Statutory Auditors’ special report on related-party  
agreements  
258  
262  
Share ownership structure
265
266  
267  
268  
268  
268  
269  
269  
270  
272  
7.  
Business overview andstrategies
17
18  
19  
20  
21  
26  
29  
31  
1.  
1. General information  
2. Share ownership structure  
3. Employee share ownership  
4. Voting rights  
5. Threshold crossings  
6. Shareholders’agreements  
7. Control  
1. Sopra Steria Group at a glance  
2. History of Sopra Steria Group  
3. Digital services market  
4. Sopra Steria’s activities  
5. Strategy and objectives  
6. 2020 Full-year results  
7. Subsequent events  
8. Simplified Group structure at 31 December 2020  
9. Group organisation  
8. Share buyback programme  
9. Changes in share capital  
32  
33  
10. Securities giving access to the share capital –  
Risk factors and internal control
1. Risk factors  
2. Insurance  
3. Internal control and risk management  
35
36  
43  
44  
2.  
Potential dilution  
272  
273  
273  
274  
11. Information on transactions in securities by Directors  
or persons mentioned in Article L. 621-18-2 of the French  
Monetary and Financial Code  
12. Authorisations to issue securities granted to the Board  
of Directors at the Combined General Meetings of  
12 June 2018 and 9 June 2020  
13. Information required by Article L. 22-10-11 of the French  
Commercial Code relating to public tender or  
exchange offers  
4. Procedures relating to the preparation and processing  
of accounting and financial information  
49  
Corporate governance
1. Organisation and operation of governance  
2. Compensation policy  
3. Standardised presentation of compensation paid to  
company officers  
4. Departures from the guidelines set forth in the  
51
52  
81  
3.  
14. Monthly share prices and trading volumes  
on Euronext Paris  
15. Share price performance  
16. Dividend per share  
275  
276  
276  
85  
96  
AFEP-MEDEF Code  
Additional information
1. Articles of Association  
277
278  
8.  
Corporate responsibility
Message from the Chief Executive Officer  
97
98  
4.  
2. Person responsible for the Universal Registration  
Document and information on the auditing  
of the Company’s financial statements  
3. Provisional reporting timetable  
4. Regulatory disclosures in 2020  
5. Documents available to the public  
1. Sopra Steria: A committed and responsible Group,  
making a sustainable, human and enlightened  
contribution  
2. Social responsibility: A committed and responsible  
collective effort  
3. Societal responsibility: Engaging all our stakeholders to  
build a positive future for all  
4. Environmental responsibility: Innovating all along our  
value chain  
5. Ethics and compliance  
6. SDG/GRI/TCFD-CDSB cross-reference table  
7. Annex: Social and environmental indicators  
285  
285  
286  
287  
99  
106  
115  
General Meeting
1. Agenda  
289
290  
291  
295  
301  
9.  
122  
132  
137  
141  
2. Summary of resolutions  
3. Proposed resolutions  
4. Special report of the Board of Directors  
8. Report by the independent third party on the  
consolidated statement of non-financial performance  
presented in the management report  
STATEMENT BY THE PERSON RESPONSIBLE OF THE
UNIVERSAL REGISTRATION DOCUMENT
302
303
307
309
153  
INDEX
2020 Consolidated Financial Statements
Consolidated statement of net income  
157
158  
159  
160  
161  
5.  
GLOSSARY
CROSS-REFERENCE TABLE
Consolidated statement of comprehensive income  
Consolidated statement of financial position  
Consolidated statement of changes in equity  
Consolidated cash flow statement  
162  
163  
Notes to the consolidated financial statements  
Statutory Auditors’ report on the consolidated financial  
statements  
224  
This seal of quality is awarded to Universal Registration  
Documents achieving the highest level of transparency  
according to the Annual Transparency Rankings criteria.  
Elements of the Annual Financial Report are identified by the logo  
2020 Universal  
registration  
document  
INCLUDING THE ANNUAL FINANCIAL REPORT AND MANAGEMENT REPORT INCLUDING  
COMPONENTS OF THE STATEMENT OF NON-FINANCIAL PERFORMANCE  
The original French-language version of the Universal Registration Document was filed on 18 March 2021 with the Autorité des Marchés Financiers (AMF) in its capacity as  
competent authority in respect of Regulation (EU) 2017/1129, without prior approval in accordance with Article 9 of said regulation.  
The original French-language version of the Universal Registration Document may be used for the purposes of an offer to the public of financial securities or the admission of  
financial securities to trading on a regulated market if it is supplemented by a securities note and, if applicable, a summary and any amendments made to the Universal  
Registration Document. The resulting combined document is approved by the AMF in accordance with Regulation (EU) 2017/1129.  
In accordance with Article 28 of Commission Regulation (EC) No. 809/2004 of 29 April 2004, the following information is included for reference in this registration  
document:  
1.Relating to financial year 2018:  
2.Relating to financial year 2019:  
the Management Report, included in the Registration Document filed on 12 April 2019  
under number D.19-0319, is detailed in the cross-reference table (pages 262 to 263) –  
Information regarding the Management Report;  
the Management Report, included in the Registration Document filed on 10 April 2020  
under number D.20-0286, is detailed in the cross-reference table (pages 330 to 331) –  
Information regarding the Management Report;  
the consolidated financial statements and the Statutory Auditors’ report on those  
financial statements, included in the Registration Document filed on 12 April 2019  
under number D.19-0319 (pages 107 to 174 and 175 to 178, respectively);  
the consolidated financial statements and the Statutory Auditors’ report on those  
financial statements, included in the Registration Document filed on 10 April 2020  
under number D.20-0286 (pages 151 to 217 and 218 to 222, respectively);  
the individual company financial statements of Sopra Steria and the Statutory  
Auditors’ report on those financial statements, included in the Registration Document  
filed on 13 April 2018 under number D.19-0319 (pages 179 to 207 and 208 to 211,  
respectively);  
the individual company financial statements of Sopra Steria and the Statutory  
Auditors’ report on those financial statements, included in the Registration Document  
filed on 10 April 2020 under number D.20-0286 (pages 223 to 250 and 251 to 254,  
respectively);  
the Statutory Auditors’ special report on related-party agreements and commitments,  
included in the Registration Document filed on 12 April 2019 under number D.19-0319  
(pages 212 to 213).  
the Statutory Auditors’ special report on related-party agreements and commitments,  
included in the Registration Document filed on 10 April 2020 under number D.20-0286  
(pages 255 to 256).  
The information included in both of those registration documents, other than the information mentioned above, has been replaced and/or updated, as applicable, by the  
information included in this Universal Registration Document.  
This document is a free translation into English of the original French “Document d’enregistrement universel”, referred to as the “Universal Registration Document”. It is not a binding  
document. In the event of a conflict of interpretation, reference should be made to the French version, which is the authentic text.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
1
INTEGRATED PRESENTATION OF SOPRA STERIA  
MESSAGE FROM THE CHAIRMAN  
Message from the Chairman
The effects of the Covid-19 crisis were
compounded late in the year by the
steps we had to take to defend
ourselves against the cyberattack that
targeted our Group. While the attack
was rapidly detected and our clients’
security maintained, some of our
information and production systems
remained down for several weeks
as a result of the remedial measures
we took.
At the same time a year ago,
Sopra Steria had successfully reached
several key milestones in the
synergies between the software,
consulting, integration and service
businesses.
implementation of its corporate plan.
We had met our annual earnings
targets, and were resolutely adopting
a medium-term perspective as we
looked at ways of speeding up our
development and confirming the
performance trajectory that we had
set for ourselves.
We will also push forward with an
aggressive, but targeted acquisitions
policy.
From the current year, we anticipate
renewed organic growth in our
business and an improvement in our
operating margins.
Over the medium term, we confidently
expect to be able to execute an
ambitious, independent and value-
creating corporate plan for all our
stakeholders. This plan brings together
employees, shareholders and partners,
and targets a high level of business
performance, while making
But this vision was swiftly disrupted as
the Covid-19 virus took hold, triggering
a serious economic crisis.The
pandemic-related restrictions caused
a wholesale drop in demand,
especially in aerospace and railways,
sectors in which Sopra Steria has a
very strong presence. Conversely, our
Group gained real traction in defence
and broadly across the public sector,
where we also have strong positions.
Despite the challenges, our results –
both in terms of revenue and
operating margin – reflect our
impressively high level of resilience
in 2020. Sopra Steria also generated
strong cash flow, helping to cut the
Group’s net financial debt by 17.2%.
a sustainable, human, purposeful
contribution to society.
Even though major uncertainties
remain at the start of the current year,
Sopra Steria intends to build on its
strong foundations and accelerate the
execution of its strategic plan in 2021.
The priorities are to bolster our
consulting business and press ahead
with digitalising our transformation
solutions. In the banking sector, we
will step up our drive to harness
Amid these challenging conditions, our
top priorities were keeping our
employees safe and safeguarding
service delivery for our clients. We
also took steps to protect our skills
base and jobs, even in the most
severely affected sectors of activity.
“Sopra Steria intends to build
on its strong foundations and
accelerate the execution of its
strategic plan in 2021.”
Pierre Pasquier
Chairman and Founder of Sopra Steria Group
2
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INTEGRATED PRESENTATION OF SOPRA STERIA  
KEY FIGURES FOR 2020  
Key figures for 2020
Sopra Steria, a European leader in consulting, digital services and software development, helps its clients
drive their digital transformation and obtain tangible and sustainable benefits.
The Group provides end-to-end solutions to make large companies and organisations more competitive
by combining in-depth knowledge of a wide range of business sectors and innovative technologies with
a fully collaborative approach.
Sopra Steria places people at the heart of everything it does and is committed to making digital
technology work for its clients in order to build a positive future.
Revenue
€3.6bn Digital services
€4.3bn
€0.7bn Development of business solutions
Organic growth of –4.8%1
Operating profit on business activity
Number of employees
45,960
Number of offices
184
Equity
€300.2m
€1.4bn
Net financial debt
€425.6m
7.0% of revenue
Net profit attributable to the Group
equal to 1.1 x 2020 pro forma EBITDA
before the impact of IFRS 16
€106.8m
Number of countries
2.5% of revenue
Market capitalisation
at 31/12/2020
25
Basic earnings per share
€2.7bn
€5.27
Dividend per share
€2.002
TOP 5
TOP 10
European digital services
companies
European digital services
companies
(1) Alternative performance measures are defined in the glossary of this document
(2) Dividend proposed for approval at the General Meeting of 26 May 2021
See Chapter 5
for more information
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
3
INTEGRATED PRESENTATION OF SOPRA STERIA  
HISTORY AND CORPORATE PLAN  
History and corporate plan
More than 50 years of continuous growth and transformation
IT services driving
the modernisation of society
Financial performance
at the heart of strategy
1968-69
1985
1990
on NYSE Euronext Paris
1999
on NYSE Euronext Paris
2000
Creation of Sopra: 1968
Creation of Steria: 1969
Sopra’s IPO
Steria’s IPO
Driving digital transformation
2014
of Sopra HR Software
2013
2012
2011
2007
of Xansa, BPO expert
2005
of Mummert Consulting
Creation
SSCL contract with
the UK government
Creation or Sopra
Banking Software
Axway’s IPO
Acquisition
Acquisition
A new dimension, focused on our development and competitive edge
2020
2014
birth of a European leader
in digital transformation
2015
2017
2018
Acquisitions
2019
Sopra Steria:
Acquisition of CIMPA
Acquisitions of Cassiopae,
Kentor, 2MoRO and Galitt
-
Acquisition of SAB
Acquisitions
-
BLUECARAT and
and SFT (JV with Sparda)
Launch of the Consulting
brand: Sopra Steria Next
-
-
Sodifrance and
cxpartners
Fidor Solutions
for Sopra Banking
Software
It-Economics in Germany
O.R. System and Apak
by Sopra Banking Software
-
-
Sopra Steria was formed from the 2014 merger between Sopra and Steria, two of France’s longest-standing digital services
companies founded in 1968 and 1969 respectively. Both companies have always been driven by entrepreneurial spirit and a
collective commitment to meeting clients’ needs. The Group is now a European leader in digital transformation solutions.
Key points of the corporate plan
An independent model
Entrepreneurial culture
Importance of human capital
An independent model built on
long-term vision and business
performance, upholding the Group’s
responsibilities to the environment
and to its stakeholders as a good
corporate citizen.
Agility, rapid decision-making, and
speed of execution are hard-wired
into Sopra Steria’s DNA. Our ethos
is predicated on an unwavering focus
on client service, autonomous
decision-making, collective endeavour
and respect for others.
A rigorous talent-focused human
resources policy combining
strong collective mindset and
the development of employees’ skills.
See Chapter 1
for more information
A core shareholder backing the corporate plan
Individual and
other investors
Treasury shares
11.6%
0.2%
Sopra GMT
19.6% (29.8%)
Controlled
French
institutional
investors
29.4%
20,547,701 listed shares
share ownership
and interests
managed
on behalf of
employees
26,583,239 exercisable voting rights
XX.X% = percentage of share
Breakdown
of share capital
at 31/12/2020
capital held
(XX.X%) = percentage of exercisable
Founders Managers
voting rights
2.6% (3.9%)
TPI survey of identifiable owners
of shares at 31/12/2020 - Ownership
threshold of over 1,000 shares
28.6% (42.1%)
Interests managed
on behalf of employees
6.3% (8.5%)
International institutional
investors
30.2%
See Chapter 7
for more information
4
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INTEGRATED PRESENTATION OF SOPRA STERIA  
OUR MISSION AND VALUES  
Our mission and values
Our mission
Technology serves as a gateway to infinite possibilities.
As fascinating as this never-ending stream of innovations is,
it also raises questions as to what is actually behind the
frantic race for novelty and change.
Together, we are building a highly promising future by
delivering tangible benefits: sustainable solutions with
positive impacts that take full account of interactions
between digital technology and society.
Solutions are never straightforward or obvious, and there
is certainly never just one way of doing things.
There’s still so much more we can achieve together.
Dare together
At Sopra Steria, our mission is to guide our clients, partners
and employees towards bold choices to build a positive
future by putting digital technology to work in service
of humanity.
At Sopra Steria, we strive to create a stimulating,
group-oriented environment inspiring free thinkers to
engage in open and frank discussions. Our goal is
to foster the development of skills and entrepreneurship
in a community driven by a thirst for collective success.
Beyond technology, we set great store by collective
intelligence, in the firm belief it can help make the world
a better place.
Values that bring us together
Putting customer
service first
Respect
for others
Taking positive
action
Professional
excellence
Collective
mindset
Openness
and curiosity
Putting customer service first
Respect for others
Taking positive action
We make a commitment to our clients
over the long term to enhance their
performance and enable them to
reach the next level by leveraging our
specialised knowledge of their sector
of activity and innovative technologies.
Our core belief is that our collective
endeavour makes us stronger, and
that by working together we can
find the best solutions. That’s why we
always listen carefully to and forge
close relationships with our clients,
partners and employees.
We want to make innovation deliver
results for as many people as possible
and offer sustainable solutions with
a positive impact that responsibly and
ethically shape interactions between
digital technology and society.
Professional excellence
Collective mindset
Openness and curiosity
We offer our visionary, integrated
approach and our broad range of
expertise to help guide our clients,
partners and employees towards bold
choices and convert opportunities into
tangible, sustainable results.
We believe collective intelligence,
harnessing team spirit and each
individual’s talents, can help drive
positive change and make the world
a better place in a sustainable
manner, exceeding what technologies
alone can do.
We encourage a bold, curious and
accountable approach and seek to
explore new avenues and employee
innovative new technologies that can
deliver transformative changes for
everyone’s benefit.
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
INTEGRATED PRESENTATION OF SOPRA STERIA  
GOVERNANCE  
Governance
Board of Directors
It is a top priority for the Board of Directors to have
a diverse range of skills. The Company has identified
ten key competencies that it would like to be represented
within the Board of Directors. These skills and areas
of experience are as follows:
Pierre Pasquier
Chairman
12 Directors appointed at the General Meeting
14
2 Directors representing the employees
64%
50%
Members
Knowledge of consulting, digital
services, software development, ability
to promote innovation
Human resources
and labour relations
64%
International teams
and organisations
57%
*
*
58%
42%
Knowledge of one of the Group’s
main vertical markets
Male Directors
Female Directors
50%
Societal issues
50%
**
Entrepreneurial experience
67% 3
36%
Independent Directors
Nationalities
Knowledge of Axway Software
36%
43%
CEO of an international group
Operational experience within
the Sopra Steria Group
62.6
Average age of Board members
57%
Finance, risk management
and control
Composition at 25 February 2021
(*) 5/12 women - 7/12 men
(**) 8/12 Board members qualify as independent based
on the AFEP-MEDEF Code’s requirements
See Chapter 3
for more information
Executive Management
The Group is made up of a corporate function and a number of operational divisions. The Executive Management team
is responsible for running the Group, with support from the Executive Committee (ExCom), the Operations Committee and
the Management Committee.
The Executive Management team consists of Vincent Paris (Chief Executive Officer), John Torrie (Deputy Chief Executive Officer)
and Laurent Giovachini, (Deputy Chief Executive Officer).
The Executive Committee (ExCom) has 17 members. It supervises the Group’s organisation,
management system, major contracts and support functions and entities. It is involved
12%
in the Group’s strategic planning and implementation. Two of its members are women.
of ExCom members
are women
The Operations Committee consists of the Executive Committee members and
18 operational managers of key countries and subsidiaries. Four of its members are
women.
The Management Committee consists of the members of the Operations Committee
and 18 operational and functional managers (purchasing, internal control, industrial
department, finance, property, marketing and communications, investor relations
and human resources). Eight of its members are women.
See Chapter 1
for more information
6
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INTEGRATED PRESENTATION OF SOPRA STERIA  
CORPORATE RESPONSIBILITY  
Corporate responsibility
Together, building a positive future by making digital
work for people.
At Sopra Steria, we firmly believe
that digital technology cancreate
opportunity and progressfor all.
When closely linked to humanity,
it creates a virtuous circle that benefits
society as a whole. Sopra Steria has
chosen to be a “contributor” company
involved in building a sustainable
world in which everyone has a part
to play.
Seven key commitments, all directly aligned with
the Group’s business model, underpin its corporate
responsibility strategy:
Benchmark employer
Constructive and open dialogue with stakeholders
Long-term partner for our clients
Involving the entire value chain in our corporate social responsibility
programme
Reduction in our environmental impact, contribution to a net-zero
greenhouse gas (GHG) emissions economy
Ethical business conduct
Supporting local communities
Three priorities:
88% reduction in business travelas
a result of the Covid-19 pandemic
Helping combat climate change
Sopra Steria has committed to achieving net zero emissions by 2028
Since 2015, greenhouse gas emissions related to our direct activities
have fallen, in line with the objectives aligned with a 1.5°C
trajectory, as certified by SBTi2;
-36.7%  
-74.0%
Incorporation of emissions related to indirect activities in
the carbon neutral programme;
Offset of emissions not averted through investment in carbon
capture projects.
Carbon neutrality of emissions from direct activities since 2015 and
integration of emissions from indirect activities in this programme
by 2028.
Reduction in GHG
emissions¹ per
employee in 2019
(2015 base)
Reduction in GHG
emissions¹ per
employee in 2020
(2015 base)
Ambitious policy of bringing more women into the
management team
4.0%
3
32.5%
The Group’s target is for women to account for 30% of Executive Committee
members³ by 2025
Women as % of 2020 Women as % of new
Further increase in the number of female Group employees;
Roll-out of the Gender Equality Tour training programme;
Two women joined the Executive Committee in 2020
workforce
hires in 2020
(2019: 32.0%)
(2019: 31.1%)
supported by the Group
including 17 digital projects
by the Sopra Steria-Institut
de France Foundation
Digital sustainability in our value proposition
Sopra Steria is accelerating innovation and digital inclusion
162
Outreach
projects
Digital systems helping our clients achieve their sustainability goals;
Digital inclusion outreach programmes;
Sopra Steria Next signed up to the Digital Responsibility Charter.
Recognition of ESG commitments(4) by the leading rating agencies in 2020
Non-financial rating
agencies
ISS QualityScore
1 for best to 10 for worst
CDP
Climate Change
CDP Supplier
Engagement Rating
MSCI
Sustainalytics
Vigeo Eiris
EcoVadis
AA
Leader
73/100
Outperformer
62/100
Advanced
Top 1%
Platinum
Score/Category
A List
A
3
(1) Greenhouse gas emissions from business travel, offices and on-sitedata centres
(2) SBTi: Science Based Targets initiative
(3) Group Executive Committee
(4) Environmental, Social and Governance
See Chapter 4
for more information
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7
INTEGRATED PRESENTATION OF SOPRA STERIA  
BUSINESS MODEL AND...  
Business model and…
Our vision
Our business
Our market
The digital revolution has triggered a
radical transformation in our environment.
It is speeding up changes in our clients’
business models, internal processes and
information systems. In this fast-changing
environment, we bring our clients new ideas
and support them in their transformation
by making the most effective use of digital
technology.
Sopra Steria provides end-to-end solutions
to address the core business needs of large
companies and organisations, helpingthem
remain competitive and grow, supporting
them throughout their digital transformation
in Europe and around the world.
Spending on digital services in Western
Europe: $265.6bn in 2020*
A market forecast to grow more than
5% over the period 2021 - 2024.*
Sopra Steria ranks among the top
10 digital services companies operating
in Europe (excluding captive service
providers and purely local players).
(*) Source: Gartner, Q4 2020, in constant US dollars.
Our offering
An end-to-end
approach
Digital and
business
consulting
Financial
services
Trusted
Application
services1
Business Process
Outsourcing
Software
digital
development2
services
Human
resources
Real estate
Cybersecurity
Cloud and
infrastructures Services
An extensive
portfolio offering
(1) Systems integration and third-party application maintenance
(2) Licensing model and SaaS/Cloud model
See Chapter 1
for more information
8
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INTEGRATED PRESENTATION OF SOPRA STERIA  
... VALUE CHAIN  
... value chain
Sopra Sterias
DNA
Innovations
Imagining and building the future
Enhancing whats already there
Technologies
Entrepreneurial culture,
Cloud, Data, AI1, Blockchain,
Transforming our clients’ business
models, processes and systems
Link between legacy and digital
close client relationships, sense
of commitment, corporate
responsibility
Cybersecurity, Mobility, 5G, IoT2
Business/
Systems meeting
Our culture
technology expertise
our clients’ strategic
Transformation
and business goals
Our resources
Employees
Strategic partners Subcontractors
Startups
End-to-end
approach
Major Client
focus
8 vertical strategic verticals
Targeted business areas
Suppliers
Business/engineering schools
and universities
Extensive offering
portfolio
Sample value creation performance measures for our main stakeholders
Employees
Clients
Shareholders
Company
Great Place to Work survey
Attrition rate
Number of hours of training
provided
Customer Voicesurvey
Organic revenue growth
Share price
GHG emissions³
CDP ranking
EcoVadis assessment
Dividend
Non-financial rating
agencies’ rating
(1) AI: Artificial intelligence
(2) IoT: Internet of things
(3) Greenhouse gases
See Chapters 1 and 4
for more information
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
9
INTEGRATED PRESENTATION OF SOPRA STERIA  
BREACKDOWN OF OPERATIONS AND THE WORKFORCE  
Breakdown of revenue
and the workforce
Breakdown of revenue
Revenue by vertical market
Transport
Distribution
5%
3%
Aerospace, Defence,
Homeland Security
Energy,
Utilities
Telecoms, Media
and Games
Banking
Public Sector
Insurance
Other
26%
25%
16%
6%
5%
10%
Group revenue
by business line
Group revenue
Workforce
by region
4
4
Group
3
45,960
3
employees
1
€4,263m
€4,263m
1
2
France
2
France
United Kingdom
Other Europe
19,799
1
Consulting Systems Integration
60%
15%
10%
15%
1
48%
2
3
4
Development of Business Solutions
Cloud Infrastructure Management
Business Process Services
2
3
4
18%
32%
2%
United Kingdom
Rest of the World
6,646
Solutions revenue
by product
Solutions revenue
by region
Other Europe
3
3
10,885
Rest of the World
2
2
€659m
€659m
1
1
523
X-Shore1
1
2
3
Sopra Banking Software
Sopra HR Software
64%
24%
12%
1
2
3
France
Rest of Europe
Rest of the World
59%
26%
15%
Property Management Solutions
8,107
See Chapter 5
(1) India, Poland, Spain and North Africa
for more information
10  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INTEGRATED PRESENTATION OF SOPRA STERIA  
STRATEGY AND AMBITIONS  
Strategy and Ambitions
Strategy
Sopra Steria’s strategy is built around its independent corporate plan for sustainable value creation for its stakeholders. It is a European
project underpinned by expansion through organic and acquisition-led growth. The goal is to generate substantial added value by
harnessing a full range of powerful consulting and software solutions deployed using an end-to-end approach and bringing to bear
our combined technology and sector-specific expertise.
Our ambition is to be the partner of choice in Europe for major public administrations, financial and industrial operators and strategic
businesses, when they are looking for support with driving the digital transformation of their activities (business and operating model)
and their information systems, and preserving their digital sovereignty.
Strategic levers - IT services
Overhaul of
legacy application
transformation
Sector and
client focus
End-to-end
approach
Strengthening
of consulting
At-scale
production model
Strategic levers - Software
Sopra Banking Platform
Sopra Financing Platform
Digital end-to-end
approach
Medium-term ambitions
The project has enjoyed the benefit of an upbeat market for digital services, which have had the wind in their sails for several years now
as a result of the digital transformation being undertaken by businesses and institutions looking to increase their resilience.
Over the medium term, Sopra Steria is targeting compound annual organic revenue growth of between 4% and 6%, an operating margin
on business activity of around 10%, and free cash flow of between 5% and 7% of revenue.
See Chapter 1
for more information
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
11
INTEGRATED PRESENTATION OF SOPRA STERIA  
RISK MANAGEMENT  
Risk Management
Participants in internal control and risk management
Board of Directors / Audit Committee
External
audit
Executive Management
1st line of control
2nd line of control
3rd line of control
Operational management
All entities
Operational management
Financial
Internal Audit
All geographies
Industrial
All business activities
Human Resources Legal
Sustainable Development
Corporate Responsibility
Internal Control
Identification of the Group’s main risks
The most significant risks specific to Sopra Steria are set out below by category and in decreasing order of criticality (based on the
crossover between probability of occurrence and the estimated extent of their impact), taking account of mitigation measures implemented.
This presentation of net risks is not intended to show all Sopra Steria’s risks.
The table below shows the results of this assessment in terms of net importance on a scale of three levels, from least important (+)
to most important (+++).
Risks related to strategy and external factors
Materiality
Adaptation of services to digital transformation, innovation
Significant reduction in client/vertical activity
Acquisitions
+++
++
The internal control system
and risk management
policies implemented by
the Group aim to lower the
probability of occurrence
of these main risk factors
and their potential impact
on the Group.
++
Attacks on reputation
++
Risks related to operational activities
Cyberattacks, systems security, data protection
+++
+++
+
Extreme events and response to major crises
Each of these risk
Marketing and execution of managed/operated projects and services
management policies is
laid down in detail in the
“Risk factors and internal
control chapter” of this
document.
Risks related to human resources
Development of skills and managerial practises - SNFP*
Attracting and retaining employees - SNFP*
++
+
Risks related to regulatory requirements
Compliance with regulations - SNFP*
+
*SNFP
This risk also relates to concerns addressed by the regulatory changes
set out in Articles L. 225-102-1 III and R. 225-105 of the French Commercial
Code, which cover the Company’s Statement ofNon-Financial Performance
See Chapter 2
for more information
12  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INTEGRATED PRESENTATION OF SOPRA STERIA  
FINANCIAL PERFORMANCE  
Financial performance
Revenue
Operating profit on business activity
in millions of euros
in millions of euros and % of revenue
354.3
8.0%
400
350
300
250
200
150
100
50
330.7
8.6%
307.9
7.5%
301.1
8.0%
300.2
4 600,0
4 400,0
4 200,0
4 000,0
4,434.0
4,262.9
4,095.3
7.0%
3,831.1
3,741.3
3 800,0
3 600,0
3 400,0
3 200,0
0
2016
2017
2018
2019
2020
2016
2017
2018
2019
2020
Net profit attributable to theGroup
Dividend in euros
in millions of euros and % of revenue
per share
200
172.5
180
160
140
120
100
80
160.3
2021
€2.00*
150.4
4.0%
€0.0
2020
125.1
3.1%
2019
2018
€2.40
106.8
€1.85
2017
2016
2015
2014
2013
€2.40
€2.20
4.5%
3.6%
2.5%
60
€1.70
€1.90
€1.90
40
20
0
0
0.5
1
1.5
2
2.5
3
2016
2017
2018
2019
2020
* Amount proposed to the General Meeting of 26 May 2021
Free cash flow
Sopra Steria share price over 5 years*
in millions of euros
Compared to performance of SBF 120 and CAC40
SOPRA STERIA +22.07% SBF120 +19.95% CAC40 +19.72%
229.3
180
160
140
120
100
80
60
40
20
250
203.5
173.1
200
150.6
150
100
50
0
111.4
0
31/12/15
31/12/16
31/12/18
31/12/19
31/12/20
31/12/17
2016
2017
2018
2019¹
2020
* Rebased 100 at 31 December 2015
(Source: Euronext Paris)
(1) Free cash flow calculated excluding the assignment of trade
receivables leading to their deconsolidation (€37m assigned in 2017)
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
13
INTEGRATED PRESENTATION OF SOPRA STERIA  
DIALOGUE WITH INVESTORS  
Dialogue with investors
2020 financial calendar
Factsheet
26 February 2021
Listing
Market
ISIN
Euronext Paris
Compartment A
FR0000050809
SOP
2020 annual revenue and earnings*
before market open
28 April 2021
before market open
Q1 2021 revenue
Ticker symbol
Main indices
26 May 2021
01 June2021
03 June 2021
Annual General Meeting
Ex-dividend date
SBF 120, CAC All-Tradable,
CAC All-Share, CAC Mid Small,
CAC Mid 60, CAC Soft. C.S.,
Dividend payment
CAC Technology, Euronext FAS IAS,
Next 150, Euronext Eurozone ESG Large 80
Euronext Eurozone 300, Ethibel Sustainability
29 July 2021
2021 half-year revenue and earnings*
Q3 2021 revenue
before market open
29 October 2021
before market open
Eligible for “PEA” Share Savings Plan in France
Eligible for Deferred Settlement Service
* The full-year and half-year results are presented at bilingual webcast
meetings in French and English.
Percentage of Group’s share capital held
by institutional investors
Meetings with investors
The Investor Relations Department builds a dialogue with the
investor community throughout the year. It endeavours to meet
with all shareholders, investors and financial analysts in the world’s
main financial markeplaces during roadshows or conferences,
as well as on the occasion of annual and interim financial reports
and presentations to the General Shareholders’ Meeting.
30.2% 29.4%
International institutional
investors
French institutional
investors
Percentage of Group’s share capital held
by individual shareholders
Institutions
met
Meeting
Countrie
covered
Cities
8%
covered
percentage of share capital held
by individual shareholders
TPI survey of identifiable shareholders at 31/12/2020
Ownership threshold of over 1,000 shares
169 146 9 14
Sopra Steria received an award from
The Technical Committee of the Grand
Prix de la Transparence* in 2020
Roadshow
Conferences
5th place
19 6
Top 5 position in the Grand Prix de la Transparence
for regulated information
Universal Registration Document and invitation to AGM
Sopra Steria ranks among the top 3 companies nominated
for the Grand Prix de la Transparence for regulated
information for its Universal Registration Document and
its invitation to the General Shareholders’ Meeting.
This seal of quality is awarded to Universal Registration Documents achieving
the highest level of transparency according to the Annual Transparency
Rankings criteria.
* Technical Committee of the Grand Prix de la Transparence awards held by Labrador
14  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
Contacts
Follow us
Group website
Investors
Sustainable Development Corporate Responsibility
Investor Relations Director
Olivier Psaume
Tel.: +33 (0)1 40 67 68 16
Email: investors@soprasteria.com
ESG Investor Relations
Tel.: +33 (0)1 40 67 86 88
Individual Shareholder Relations
Tel.: +33 (0)1 40 67 68 26
Corporate Responsibility Director
Fabienne Mathey-Girbig
Email: corporate.responsibility@soprasteria.com
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
15
16  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
1. Business overview  
andstrategies  
Sopra Steria Group at a glance
18
19
1.  
History of Sopra Steria Group
2.  
Digital services market
20
3.  
3.1.
Main markets – Competitive environment of the digital services sector  
20  
Sopra Steria’sactivities
21
21  
4.  
4.1.
A major European player in digital transformation  
Business expertise at the heart of our strategy  
Research and Development in Solutions  
4.2.
4.3.
24  
26  
Strategy and objectives
26
26  
26  
27  
29  
5.  
5.1.
Corporate plan reaffirmed despite the Covid-19 crisis  
Strong and original positioning in Europe  
Confirmed objectives and priority action areas  
Medium-term strategic objectives  
5.2.
5.3.
5.4.
2020 Full-year results
29
6.  
6.1.
Comments on 2020 performance  
29  
6.2.
Comments on the components of net profit attributable to the Group and  
Financial position at 31 December 2020  
30  
30  
30  
30  
30  
31  
6.3.
6.4.
6.5.
6.6.
6.7.
6.8.
Proposed dividend in respect of financial year 2020  
Workforce  
Social and environmental footprint  
Acquisition and external growth transactions  
Infrastructure and technical facilities  
Targets for 2021  
31  
Subsequent events
31
7.  
8.  
Simplified Group structure at 31 December 2020
32
Group organisation
Permanent structure  
33
33  
9.  
9.1.
9.2.
Temporary structures for specific deals and projects  
34  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
17
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Sopra Steria Group at a glance  
1.
Sopra Steria Group at a glance  
Corporate name: Sopra Steria Group  
Until 2 September 2014, the name of the Company was “Sopra Group”. As a result of the successful public exchange offer made by Sopra  
Group for the shares of Groupe Steria SCA (see press release dated 6 August 2014), the Board of Directors met on 3 September 2014, with  
Pierre Pasquier presiding, and recorded the entry into effect of several resolutions conditionally adopted at the General Meeting of 27 June  
2014.  
Among  the  consequences  of  the  implementation  of  these  resolutions  was  the  change  in  the  corporate  name  from  “Sopra Group”  to  
“Sopra Steria Group”.  
Registered office: PAE Les Glaisins, Annecy-le-Vieux, 74940Annecy – France. The telephone number is +33(0)4 50 33 30 30.  
Executive Management: 6 avenue Kleber, 75116 Paris – France. The telephone number is +33(0)1 40 67 29 29.  
Legal form: French société anonyme.  
Company website:https://www.soprasteria.com  
Date of incorporation:5 January 1968, with a term of fifty years as from 25 January 1968, renewed at the General Meeting of 19 June  
2012 for a subsequent term of ninety-nine years.  
Country where the entity is incorporated: France  
Country where registered office is located: France  
Name of the parent company: Sopra Steria Group  
Name of the controlling company: Sopra Steria Group  
Principal entity: Sopra Steria Group  
Corporate purpose:“The Company’s purpose is:  
To engage, in France and elsewhere, in consulting, expertise, research and training with regard to corporate organisation and information  
processing, in computer analysis and programming and in the performance of customised work.  
The design and creation of automation and management systems, including the purchase and assembly of components and equipment, and  
appropriate software.  
The creation or acquisition of and the operation of other businesses or establishments of a similar type.  
And, generally, all commercial or financial transactions, movable or immovable, directly or indirectly related to said corporate purpose or in  
partnership or in association with other companies or persons” (Article 2 of the Articles of Association).  
Commercial registration:326 820 065 RCS Annecy  
Place where legal documents may be consulted:Registered office.  
ISIN:FR0000050809  
Legal Entity Identifier (LEI): 96950020QIOHAAK9V551  
Financial year: From 1 January to 31 December of each year.  
Appropriation of earnings according to the Articles of Association  
“An amount of at least five per cent shall be deducted from the profit for the financial year, reduced by prior losses, if any, in order to  
constitute the statutory reserve fund. Such deduction shall cease to be mandatory when the amount in the statutory reserve fund is equalto  
one-tenth of the share capital.  
Profit available for distribution comprises the profit for the year less any losses carried forward and amounts allocated to reserves, pursuant to  
the law and the Articles of Association, plus retained earnings.  
The  General  Meeting  may  deduct  from  this  profit  all  amounts  that  it  deems  appropriate  for  allocation  to  all  optional,  ordinary  or  
extraordinary reserves, or to retained earnings.  
The balance, if any, is apportioned at the General Meeting between all shareholders in proportion to the number of shares that they own.  
The General Meeting may also decide to distribute amounts deducted from the reserves at its disposal, expressly indicating the reserve items  
from which the deductions are made. However, dividends shall first be withdrawn from the profits for the financial year. (Excerpt from  
Article 37 of the Articles of Association).  
18  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
1
BUSINESS OVERVIEW ANDSTRATEGIES  
History of Sopra Steria Group  
2.
History of Sopra Steria Group  
A LONG HISTORY OF ENTREPRENEURSHIP
2014
Backed  by  our  strong  entrepreneurial  culture  and  our  sense  of  
collective  purpose,  we  work  every  day  to  deliver  a  range  of  
solutions, from consulting to systems integration, on behalf of our  
clients.  We  aim  to  be  the  benchmark  partner  for  large  public  
authorities,  financial  and  industrial  operators,  and  strategic  
companies in the main countries where we operate. We focus on  
being relevant at all times and ensuring that our impact is a positive  
one, both for society and from a business perspective.  
Birth of a new European leader in digital transformation  
Complementing each other in business strengths, strategic verticals  
and  geographies  while  sharing  a  similar  corporate  culture,  Sopra  
and Steria merge to give birth to Sopra Steria.  
2000–2014
Assisting with digital transformation  
2014–2020
In 2001,  the  Internet  bubble  bursts  accelerating  market  changes.  
Clients  are  looking  for  global  players  capable  of  assisting  them  in  
transforming their businesses.  
A new strategic plan to promote expansion and  
competitiveness  
Steria  rises  to  these  challenges  by  completing  major  strategic  
acquisitions, including Bull’s IT services business in Europe in 2001,  
Mummert Consulting in Germany in 2005 and the business process  
outsourcing (BPO) expert Xansa in 2007.  
The Sopra Steria 2020 Project is launched to improve performance  
in all areas and increase added value. The acquisition of CIMPA in  
October 2015  boosts  its  presence  in  the  product  lifecycle  
management  (PLM)  market.  Following  the  acquisition  of  software  
developer  Cassiopae,  finalised  in  January 2017,  three  new  
companies joined the Sopra Steria Group in 2017: Kentor, 2MoRO  
and Galitt.  
1985–2000
Strategic emphasis on financial performance  
In  2018,  the  Group  acquires  the  German  IT  services  company  
BLUECARAT  to  strengthen  its  position  in  Germany  and  offer  new  
growth  opportunities  for  its  local  subsidiary,  as  well  as  Apak  to  
expand its range of lending solutions. In 2019, Sopra Steria takes  
two  important  steps  forward  in  the  core  banking  market:  the  
acquisition of SAB, finalised on 7 August 2020, and the partnership  
with seven German banks in the Sparda banking group, involving  
the  construction  of  a  digital  platform.  At  the  end  of  2019,  
Sopra Steria  also  bolsters  its  operations  and  consolidates  its  
strategy  by  launching  its  new  digital  transformation  consulting  
brand,  Sopra Steria  Next.  With  the  acquisition  of  Sodifrance  in  
2020,  the  Group  created  a  market  leader  in  digital  services  for  
insurers and social security providers. In the United Kingdom, Sopra  
Steria acquired cxpartners, bolstering its expertise in user experience  
and  ergonomic  design.  Lastly,  Fidor  Solutions,  the  software  
subsidiary of next-generation bank Fidor Bank specialising in digital  
banking solutions, joined the Group on 31 December 2020. With  
this  acquisition,  Sopra  Banking  Software  has  significantly  
accelerated  the  pace  of  its  development,  in  particular  by  
augmenting user features as part of its Digital Banking Engagement  
Platform (DBEP).  
Given the maturity of the IT services market, Sopra reexamines its  
fundamentals  and  refocuses  on  systems  integration  and  software  
development.  Sopra  completes  its  initial  public  offering  in  1990.  
Steria prioritises the rationalisation and industrialisation of processes  
to  reorganise  its  functional  structure.  After  landing  a  number  of  
major deals, Steria proceeds with its initial public offering in 1999.  
Sopra  combines  internal  and  external  growth  to  consolidate  its  
European expansion and its areas of expertise: consulting, systems  
integration and solutions development. Axway, a subsidiary formed  
by bringing together the Group’s software infrastructure divisions, is  
floated in 2011.  
1968–1985
It services as a key linchpin in society’s process of  
modernisation  
Sopra and Steria are two distinct entities, making their way forward  
in  the  emerging  IT  services  industry.  They  both  strive  to  meet  the  
needs of major clients with innovative products and services. Sopra  
invests in software development and opens new locations in various  
markets. At the same time, Steria racks up several contract wins in  
the public sector.  
Today,  the  Group  ranks  among  the  top  5  European  digital  
transformation  players,  having  earned  a  reputation  for  providing  
end-to-end  solutions  to  address  the  core  business  needs  of  large  
companies and organisations, helping them remain competitive and  
grow.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
19
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Digital services market  
3.
Digital services market  
3.1. Main markets – Competitive environment of the digital services sector  
In  2020,  the  digital  services  market  in  Western  Europe  was  worth  an  estimated  $265.6  billion (1),  down  4.7% (2)  due  to  the  Covid-19  
pandemic. Gartner predicts a rebound to $282.4 billion in 2021.  
DIGITAL SERVICES MARKET IN WESTERN EUROPE (EXCLUDING HARDWARE AND SOFTWARE)  
Country (in billions of dollars)
2021 estimates  
France  
United Kingdom  
Germany  
37.8  
77.3  
50.7  
Rest of Europe  
116.6  
TOTAL
282.4
Source: Gartner, updated Q4 2020.  
According to market research, in 2020 the market (1)contracted by  
5.4%  (2)  in  France,  4.5%  in  Germany  and  3.8%  in  the  United  
Kingdom.  For  2021,  an  upturn  is  expected,  amounting  to  4%  in  
France,  3.1%  in  Germany  and  1.8%  in  the  United  Kingdom.  This  
trend should continue over the next few years, with market growth  
in  Western  Europe  estimated  at  around  5%  per  year  on  average  
(2021-2024).  
DIGITAL SERVICES MARKET IN WESTERN EUROPE (EXCLUDING HARDWARE AND SOFTWARE)  
Business (in billions of dollars)
2021 estimates  
Consulting  
Development and systems integration  
Outsourced IT services  
61.1  
72.2  
117.5  
31.6  
Business process outsourcing  
TOTAL
282.4
Source: Gartner, updated Q4 2020.  
In terms of businesses segments, consulting was down 7.6% (2) in  
2020 and implementation services fell 6.0%. Other activitiesproved  
more resilient: outsourced and cloud services fell 3.1% and business  
process outsourcing fell 2.1%. For 2021, Gartner predicts upturns of  
3.0% in consulting, 3.9% in implementation services and 3.0% in  
outsourced  and  cloud  services.  Business  process  outsourcing  is  
expected to remain stable.  
holding less than a 10% share. Against this backdrop, Sopra Steria  
is  one  of  the  ten  largest  digital  services  companies  operating  in  
Europe (excluding captive service providers and purely local players).  
Its market share stands at over 5% in France and currently averages  
between 0.5% and 1% in the other major European markets.  
Sopra Steria’s  main  competitors  in  Europe  are:  Accenture,  Atos,  
Capgemini, CGI, DXC and IBM, all of which are present worldwide.  
It also faces competition from Indian groups, chiefly in the United  
Kingdom  (such  as  TCS,  Cognizant,  Wipro  and  Infosys),  and  local  
companies with a strong regional presence (Indra in Spain, Fujitsu in  
the United Kingdom, Tieto/Evry in Scandinavia, etc.). Apart from its  
services business, listed rivals such as Temenos and Alfa Financials  
also command a significant presence in the software market, where  
Sopra Steria is also present, especially in banking.  
The European market has two main characteristics:  
three  countries  (the  United  Kingdom,  Germany  and  France)  
p
account for 59% of IT services spending (1);  
outsourcing of technology services (application maintenance and  
p
infrastructure  management)  and  business  process  outsourcing  
together account for a little over half of IT services spending by  
European companies (1)  
.
Furthermore,  the  IT  services  market  remains  fragmented  despite  
some consolidation, with the leading player in the European market  
(1) Source: Gartner report, updated Q4 2020  
(2) Growth calculated at constant US dollars  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Sopra Steria’s activities  
4.
Sopra Steria’s activities  
change  management, etc.)  to  make  the  most  of  new  digital  
technologies.  It  involves  supporting  the  information  systems  
departments of our clients, grasping their new challenges, assisting  
them  with  their  overall  transformation  projects  as  well  as  the  
modernisation of their legacy systems.  
4.1. A major European player in digital  
transformation  
Sopra Steria, a European leader in consulting, digital services and  
software  development,  helps  its  clients  drive  their  digital  
transformation and obtain tangible and sustainable benefits, thanks  
to  one  of  the  most  comprehensive  portfolios  of  offerings  on  the  
market,  spanning  consulting  and  systems  integration,  the  
development  of  business  and  technology  solutions,  infrastructure  
management, cybersecurity and business process services (BPS).  
b. Systems integration  
Systems  integration  is  Sopra Steria’s  original  core  business,  and  
covers  all  aspects  of  the  information  system  life  cycle  and  major  
transformation  programmes.  Sopra Steria  is  equipped  to  address  
the full range of its clients’ software asset needs:  
The Group provides end-to-end solutions to make large companies  
and  organisations  more  competitive  by  combining  in-depth  
knowledge  of  a  wide  range  of  business  sectors  and  innovative  
technologies  with  a  fully  collaborative  approach:  from  strategic  
analysis,  programme  definition  and  implementation,  and  IT  
infrastructure  transformation  and  operation,  to  designing  and  
implementing solutions and outsourcing business processes.  
Design and integration  
Sopra Steria’s  teams  help  their  clients  implement  agile  and  
industrial-scale projects. The Group undertakes to design and deliver  
systems  in  line  with  business  requirements  that  are  flexible  and  
adapted to the new requirements of digital transformation as well  
as  sector-specific  regulatory  constraints.  This  is  made  possible  by  
working closely with the Sopra Steria Consulting teams.  
For  Sopra Steria,  helping  clients  succeed  in  their  digital  
transformation  means  breaking  down  their  strategic  and  business  
challenges  into  digital  initiatives  through  an  exclusive  end-to-end  
offering.  Thanks  to  very  close  relationships  with  its  clients  and  its  
multi-disciplinary teams, the Group is able to continually innovate to  
guarantee  that  its  offerings  remain  relevant  to  the  strategic  
challenges of each of its vertical markets.  
Performance and transformation  
In  addition  to  standard  information  systems  maintenance,  
Sopra Steria takes a continuous transformation approach to these  
systems to guarantee optimised operational efficiency for its clients,  
suited  to  changes  in  their  business.  The  transformation  approach  
includes  a  well-equipped  and  documented  procedure  making  it  
possible  to  combine  the  issues  involved  in  reducing  the  time  to  
market with improved competitiveness and continuity of service.  
Sopra Steria’s teams are trained in the new microservices platforms,  
DevOps and cloud computing. They are also adopting new methods  
of  designing,  delivering  and  embedding  teams.  Sopra Steria  is  
therefore able to offer the two key ingredients for successful digital  
transformation:  speed  of  execution  and  openness  to  external  
ecosystems.  
Streamlining data flow  
Once  the  systems  and  technologies  are  implemented,  the  
information  system  gives  access  to  reliable,  relevant  and  critical  
data, offering better analysis of user satisfaction and optimisation of  
service performance.  
Sopra Steria Group is also the preferred partner of Axway Software,  
whose  exchange  and  digital  enablement  platforms  play  an  
important  role  in  modernising  information  systems  and  opening  
them up to digital technology.  
With  the  increasing  number  of  diverse  data  sources  relating  to  
fundamental  changes  in  use,  data  is  a  more  valuable  to  the  
company than ever. To increase the value of this data, Sopra Steria  
has  developed  specific  know-how  and  expertise  to  manage  the  
exponential  growth  in  data  volumes  and  associated  skills  (data  
science,  smart  machines,  automation,  artificial  intelligence)  by  
integrating them in a global solution, securing the data regardless  
of its origin (mobile devices, smart objects, data privacy, the cloud,  
multimodal and multichannel systems, etc.) and using the data by  
means of contextualised algorithms.  
Sopra Steria  is  an  independent  Group  whose  founders  and  
managers  control  22.3%  of  its  share  capital  and  33.6%  of  its  
theoretical voting rights. With 46,000 employees in 25 countries, it  
pursues a strategy based on European key accounts.  
4.1.1. CONSULTING AND SYSTEMS INTEGRATION –
60% OF 2020 REVENUE
a. Consulting  
Sopra Steria  Next,  the  Group’s  consulting  brand,  is  a  leading  
consulting firm. Sopra Steria Next has over40 years’ experience in  
business  and  technological  consultancy  for  large  companies  and  
public  bodies,  with  around  3,400 consultants  in  France  and  
Europe.  Its  aim  is  to  accelerate  the  development  and  
competitiveness  of  its  clients  by  supporting  them  in  their  digital  
transformation  while  addressing  their  sustainability  challenges  in  
keeping  with  our  clients’  Corporate  Responsibility  policies.  This  
support  involves  understanding  clients’  business  issues  using  
substantial  sector-specific  expertise,  and  then  working  to  design  
transformation  roadmaps  (business  processes,  data  architecture,  
The Group’s systems integration offering thus meets the challenges  
posed by both the obsolescence and modernisation of information  
systems, ensuring optimal flexibility and value creation.  
Product lifecycle management (PLM)  
CIMPA provides comprehensive expertise via its PLM offering, which  
covers all the various facets of PLM services:  
PLM strategy creation or optimisation;  
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deployment of strategy-related tools, processes or methods;  
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user training and support.  
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BUSINESS OVERVIEW ANDSTRATEGIES  
Sopra Steria’s activities  
compliance  with  major  French  and  European  regulations  
(LPM/NIS, CNIL/GDPR, export control, etc.) is based on the legal  
and operational expertise of our consultants;  
4.1.2. INFRASTRUCTURE MANAGEMENT AND CLOUD
SERVICES – 10% OF 2020 REVENUE
With  over  5,000 experts  worldwide  and  more  than  15 years’  
experience in developing our outsourcing service centres in Europe  
and  India,  Sopra Steria   a  leader  in  the  hybridisation  of  
information systems and a major player in digital transformation   
provides  support  for  all  technological,  organisational  and  
security-focused  information  system  transformation  projects,  from  
consulting  to  execution,  in  the  IT  and  cloud  infrastructure  
management sector.  
Application  Security:  A  complete  programme  for  securing  
applications,  including  a  “Security  by  Design”  project  approach  
and  a  unique  code  review  as  a  service  (CRaaS)  production  
capacity made possible by our cybersecurity centres;  
p
p
p
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Cloud  Security  services:  Sopra Steria  Cloud  Security  Services  
covers  compliance  with  the  frameworks  concerned,  “secure  by  
design” principles, application security and overall monitoring of  
public cloud and multi-cloud environments;  
This  area  of  expertise  covers  three  service  categories  that  are  
essential  to  support  information  system  transformation  for  our  
clients:  
Data  Security:  A  comprehensive  programme,  extending  from  
business-related  risks  to  protection  and  surveillance  measures,  
designed for hybrid environments (legacy, cloud) and leveraging  
the best of big data and data science technologies;  
Infrastructure and Cloud Services, a comprehensive range of  
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solutions spanning all customisable services relating to the cloud,  
Security  Intelligence  Centre  (SIC):  A  scalable  Security  
Operations  Centre  (SOC)  offering  that  may  be  used  by  the  
organisations known in France as opérateurs d’importance vitale,  
or OIVs (identified by the French state as having activities thatare  
vital or hazardous for the population), in line with Sopra Steria’s  
certification  as  an  authorised  security  incident  detection  service  
provider  (PDIS)  by  the  ANSSI,  the  French  networks  and  
information  security  agency.  The  leading  offering  of  its  kind  in  
France, this type of SOC combines information management and  
artificial intelligence to anticipate, detect, analyse and respond to  
cyberattacks as quickly and accurately as possible.  
including  
CloudAssessment,  
CloudMigrationFactory,  
CloudArchitecture, CloudEconomics and CloudOps, as well as all  
IT services relating to servers, networks, storage and backup, with  
the  aim  of  optimising  the  availability  and  performance  of  our  
clients’  applications.  This  is  in  addition  to  our  hosting  services  
within our data centres in Europe, which feature ISO 27001 and  
HDS (French healthcare data hosting) certification. Our catalogue  
of integrated services lets us provide end-to-end management of  
our  clients’  applications  in  hybrid  environments,  as  well  as  
changes  to  these  applications  and  interconnections  with  
applications hosted in the cloud.  
This  comprehensive  offering  is  suited  for  any  environment  and  
provides  a  tangible  solution  for  the  security  issues  specific  to  
industrial systems.  
User  Experience  Services,  an  intelligent  services  platform  to  
better serve our clients’ employees and enhance the effectiveness  
of client services, including digital workplace, technological and  
business support and AI services.  
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4.1.4. DEVELOPMENT OF BUSINESS SOLUTIONS –
15% OF 2020 REVENUE
Consulting  Services,  a  set  of  value  propositions  for  the  
co-management  and  operation  of  our  clients’  transformation  
projects, provided across the other service categories listed above.  
Sopra Steria  offers  its  business  expertise  to  clients  via  packaged  
solutions  in  three  areas:  banks  and  other  financial  institutions  via  
Sopra Banking Software, human resources personnel via Sopra HR  
Software,  and  real  estate  owners  and  agents  with  its  property  
management  solutions.  The  Group  offers  its  clients  the  most  
powerful solutions, in line with their objectives and representing the  
state of the art in terms of technology, know-how and expertise in  
each of these three areas.  
Combining  consulting,  architecture  and  multimodal  delivery,  our  
teams  work  more  specifically  on  transformation  and  managed  
services projects in private, public and hybrid cloud environments.  
At  Sopra Steria,  we  also  assist  our  clients  with  their  strategic  
cloud-native,  cloud-first  or  “data  centre-less”  initiatives.  
Sopra Steria  deploys  and  operates  proven  and  customisable  
solutions  for  post  go-live  optimisation,  continuity  of  service  and  
data  management,  ranging  from  DevSecOps  services,  live  services  
and API services to smart data services, in order to ensure reliability  
and a high level of application availability.  
Sopra Banking Software: Solutions developer for the  
financial services industry  
Drawing  on  its  technologies  and  the  strength  of  its  commitment,  
Sopra Banking Software, a wholly-owned subsidiary of the Group,  
supports its clients – financial institutions – all over the world on a  
daily basis.  
4.1.3. CYBERSECURITY SERVICES
With around 1000 experts and several state-of-the-art cybersecurity  
centres  in  Europe  and  worldwide  (France,  United  Kingdom,  
Singapore, Norway, Belgium, Poland, India), Sopra Steria is a global  
player in protecting critical systems and sensitive information assets  
for major institutional and private clients.  
The  customer  experience,  operational  excellence,  cost  control,  
compliance  and  risk  reduction  are  among  the  key  transformation  
priorities for:  
banks in Europe and Africa: from direct- and branch-based retail  
banks  and  private  banks  to  microfinance  companies,  Islamic  
financial institutions and centralised payment or credit factories;  
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Cybersecurity covers six key areas of expertise:  
Cyber  Resilience,  which  comprises  crisis  management  
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(anticipating or following up on a major security incident) at the  
levels  of  the  Executive  Committee,  Information  Systems  
Department and CISO, and complex remediation including partial  
or complete reconstruction of the IT system;  
financing  and  lending  institutions  around  the  world:  serving  
p
individuals  and  companies,  the  automotive  and  capital  goods  
sectors,  as  well  as  equipment  and  real  estate  leasing  and  even  
market financing.  
Governance, Risk and Compliance (GRC): High value-added  
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With over 5,000 experts and 55 offices worldwide, Sopra Banking  
Software addresses its clients’ challenges across all geographies and  
in  all  business  areas,  covering  issues  such  as  communicating  new  
offerings,  the  quality  of  customer  relationships,  production,  
accounting integration and regulatory reporting.  
consulting  service  offerings  coupled  with  GRC  solution  
integration in order to provide well-equipped security governance  
focused  on  managing  business  risks.  In  the  area  of  regulatory  
compliance,  Sopra Steria’s  comprehensive  support  to  ensure  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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BUSINESS OVERVIEW ANDSTRATEGIES  
Sopra Steria’s activities  
Solutions  
cutting  edge  of  digital  technologies,  it  offers  major  public  and  
private  sector  players  in  real  estate  (institutional  investors,  social  
housing  operators,  property  management  firms  and  major  users)  
the  most  comprehensive  information  system  available  on  the  
market.  
Sopra Banking Software offers two kinds of services: Sopra Banking  
Platform,  intended  to  respond  to  banks’  day-to-day  needs,  and  
Sopra Financing Platform, which specialises in managing financing.  
SBP  is  a  banking  processing  platform  that  relies  on  an  
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Today, Property Management Solutions by Sopra Steria’s teams of  
more than 700 experts guide its 457 clients in delivering on their  
digital  ambitions  to  improve  returns  for  their  real  estate  assets,  
optimise  practices,  and  build  better  relations  with  tenants  and  
service providers, in full observance of laws and regulations.  
architecture  of  independent  and  pre-integrated  business  
components.  It  makes  it  possible  to  manage  all  banking  
operations  (deposits  and  savings,  management  of  the  loan  life  
cycle,  payments,  reporting)  and  offer  innovative  features  in  a  
digital and mobile environment;  
Property  Management  Solutions  by  Sopra Steria  adds  additional  
value  through  its  unique  knowledge  of  business  processes  in  the  
sector as well as the co-construction approaches put in place with  
its clients.  
SFP is a flexible and robust financing management platform able  
to deal with all types of financing tools within the framework of  
advanced process automation.  
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These solutions can be used either on-site at the client’s premises,  
on the cloud (public or private) or in SaaS mode.  
Solutions  
Real  Estate  Solutions  by  Sopra Steria  offers  a  digital  services  
platform  built  around  an  open,  shared  real  estate  reference  
framework that accommodates the practices of all players to ensure  
a successful user experience.  
Services  
An end-to-end provider, Sopra Banking Software offers solutions as  
well  as  consulting,  implementation,  maintenance  and  training  
services. This means that financial institutions are able to maintain  
their  day-to-day  operations  while  shifting  towards  greater  
innovation and agility, with the aim of securing sustainable growth.  
Through its market-leading solutions backed by more than 50 years  
of experience in its field, Sopra Banking Software is committed to  
working with its clients and staff to build the financial world of the  
future.  
Services  
Property Management Solutions by Sopra Steria supports its clients  
with an end-to-end service offering, from consulting to integration  
and managed services.  
4.1.5. BUSINESS PROCESS SERVICES –
15% OF 2020 REVENUE
Sopra HR Software: a market leader in human resource  
management  
Sopra Steria  offers  a  full  range  of  business  process  services  (BPS)  
solutions:  consulting  for  the  identification  of  target  operating  
models,  development  of  transition  and  transformation  plans,  and  
managed services.  
Sopra Steria  Group  also  develops  human  resource  management  
solutions  via  Sopra  HR  Software  (a  wholly-owned  subsidiary  of  
Sopra Steria).  Sopra  HR  Software  is  present  in  10 countries,  
providing comprehensive HR solutions perfectly suited to the needs  
of human resources departments. Sopra HR Software currently has a  
workforce  of  1,800 people  and  manages  the  payrolls  of  
900 clients with over 12 million employees.  
Today,  our  BPS  offering  goes  hand  in  hand  with  digital  
transformation. Digital technologies have opened up opportunities  
for improving key business processes in all organisations. Whether  
they  involve  robotics,  chatbots,  automatic  natural  language  
processing  (NLP)  or  artificial  intelligence  (AI)  more  widely,  digital  
technologies  can  streamline  the  execution  of  processes,  cut  their  
costs and lead to new approaches.  
Sopra HR Software is a partner for successful digital transformation  
of companies and anticipates new generations of HR solutions.  
Solutions  
Sopra Steria has forged relationships with major providers of digital  
solutions for BPS. Furthermore, we enjoy a strong presence in the  
technology ecosystem, both in France and worldwide. We thus have  
access to a dynamic network of partners as well as a singular ability  
to identify innovative solutions owing to our connections with the  
world of technology startups. We combine our own platforms with  
those  of  our  technology  partners  to  provide  the  right  level  of  
innovation  within  our  design/production/operation  services.  Our  
specialised  design  teams  work  to  ensure  the  best  possible  client  
experience  for  end-users  and  we  offer  our  clients  ways  to  
considerably  improve  process  efficiency  by  leveraging  intelligent  
automation and machine learning. Thanks to our technology assets,  
we are helping to develop tomorrow’s operating models.  
The Sopra HR Software offerings are based on the most innovative  
business  practices  and  cover  a  wide  range  of  functions,  including  
core  HR,  payroll,  time  and  activity  tracking,  talent  management,  
staff  experience,  and  HR  analytics.  The  offering  is  based  on  two  
product  lines,  HR  Access  
®
  and  Pléiades ,  aimed  at  large  and  
®
medium-sized public or private organisations in any sector and of  
varying organisational complexity, irrespective of their location.  
Within  Sopra  HR  Lab,  the  Group  anticipates  the  best  of  new  HR  
solutions.  
Services  
Sopra  HR  Software,  a  comprehensive  service  provider,  offers  a  
number of services linked to its solution offering. Sopra HR Software  
supports  its  clients  throughout  their  projects,  from  consulting  
through  to  implementation,  including  staff  training,  maintenance  
and business process services (BPS).  
Sopra Steria employs many consultants and practising professionals  
with expertise in BPS and the digital sector. They help organisations  
make  the  best  use  of  new  digital  technologies  to  transform  their  
activities,  from  their  operating  models  to  their  processes  and  
end-user  services.  Our  ability  to  handle  transformation  in  both  its  
human  and  business  dimensions  allows  us  to  support  our  clients  
wherever  their  digital  journey  takes  them,  helping  them  to  move  
from a theoretical perspective on possible solutions to a focus on  
specific technologies. We eliminate inefficient practices, reorganise  
tasks and improve results for each activity entrusted to us, whether  
it  involves  individual  business  processes  or  highly  complex  shared  
services. Added to this is the experience of our employees in change  
Sopra HR Software implements its own solutions either on-premise  
or in the cloud and also offers a wide range of managed services.  
Property Management Solutions by Sopra Steria: The  
leading name in digital transformation for Property  
Management  
Sopra Steria  is  the  leading  developer,  distributor,  integrator,  and  
service manager of property management software in France. At the  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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1
BUSINESS OVERVIEW ANDSTRATEGIES  
Sopra Steria’s activities  
management,  which  is  essential  to  the  success  of  any  
transformation. In the various BPS areas, we can provide the services  
ourselves or work in tandem with the client’s personnel to carry out  
the  engagement.  In  these  cases,  we  invest  in  these  individuals  to  
help them become more effective and productive, sharing our best  
practices with them.  
availability,  security  and  performance,  which  require  suppliers  to  
have full command of the technologies and processes implemented,  
as well as a thorough understanding of their different clients’ core  
businesses.  
For optimal service, companies operating in this sector must align  
their  capacities  with  the  pace  of  production  and  optimise  their  
processes  and  information  systems  while  also  improving  
profitability.  Digital  continuity  and  the  ability  to  manage  the  
product  life  cycle,  from  design  to  manufacture  and  after-sales  
services, are crucial. Sopra Steria’s acquisition in 2015 of CIMPA, a  
specialist in product lifecycle management, makes total sensein this  
context particularly as it was followed in 2017 by the acquisition of  
2MoRO, extending the Group’s offering in aerospace maintenance  
activities.  
Sopra Steria  operates  two  of  the  largest  shared  service  centres  in  
Europe, taking charge of multiple business processes each day on  
behalf of end-clients.  
4.2. Business expertise at the heart of  
our strategy  
Sopra Steria has chosen eight major vertical markets that constitute  
its areas of excellence and make up 90% of revenue. The Group has  
a  comprehensive  offering  in  each  of  these  fields,  meeting  the  
specific challenges of its clients.  
To meet these challenges, Sopra Steria’s expertise comes into play  
in  such  critical  areas  as  industrial  efficiency,  manufacturing  and  
particularly the shop floor, supply chain, on-board systems and air  
traffic control.  
4.2.1. BANKING – 26% OF 2020 REVENUE
b. Defence  
In a tense geopolitical context, marked by the rise of new threats to  
states  (cybercrime,  terrorism, etc.),  defence  departments  must  
improve  their  effectiveness  while  taking  into  account  budgetary  
constraints. It has become essential to optimise the interoperability  
and security of critical operational systems for exchanging real-time  
information.  
The  banking  and  financial  services  sector  has  entered  a  new  era,  
that of Open Banking. Client demands and regulatory pressures are  
constantly increasing and new market entrants (fintech companies,  
the “Big Four” tech companies, retail and telecoms players, etc.) are  
helping  to  accelerate  transformations  in  this  ecosystem,  moving  it  
toward greater openness, a paradigm shift often referred to as the  
Open Banking revolution.  
With over 40 years’ experience in supporting the military in Europe,  
Sopra Steria  combines  pragmatism  and  innovation,  thanks  to  
powerful technological and process solutions:  
Faced with these new challenges, Sopra Steria aims to be a partner  
for banks, helping to facilitate and accelerate this transformation.  
interoperability and security of military systems;  
p
With three core areas of expertise  understanding of the banking  
sector, its clients and the most innovative technologies – the Group  
offers  powerful  and  agile  software  solutions,  as  well  as  their  
application  by  means  of  value-added  use.  The  Group  and  its  
subsidiary Sopra Banking Software provide comprehensive solutions  
and turn changes in the banking world into opportunities fortheir  
clients,  whether  in  risk  management,  regulatory  compliance,  data  
protection,  improving  the  customer  experience,  optimising  
performance, delivering differentiation or identifying new sources of  
income.  
efficiency and overall effectiveness of the armed forces;  
p
efficiency  of  the  military  supply  chain  (supply  chain  
management);  
p
reliability of operational information and communication systems;  
p
control over costs and the complexity of ensuring compliance for  
command and control systems.  
p
c. Homeland security  
Sopra Steria supports public authorities in meeting the challenges  
of homeland security. The Group operates in 24 countries, serving  
many  different  organisations:  police,  emergency  services,  border  
control, justice, customs and homeland security services.  
4.2.2. PUBLIC SECTOR – 25% OF 2020 REVENUE
Faced with new expectations from civil society and businesses, the  
need to optimise their expenditure, the obligation to keep up with  
regulatory changes and driven by a wave of reforms, public sector  
entities  are  continuing  the  broad-based  transformation  of  their  
activities, organisations and the services offered to their users.  
Sopra Steria carries out large-scale, complex and critical projects on  
behalf of these organisations, concerning:  
survey management and information processing;  
p
When  digital  technology  is  a  force  for  change,  Sopra Steria  
provides  solutions  in  two  main  categories:  (i) the  digitisation  of  
government  services,  the  re-engineering  of  processes  and,  more  
generally,  the  modernisation  of  business-specific  information  
systems via digital transformation programmes, and(ii) the pooling  
of  support  functions  for  central  government  agencies,  local  
authorities, and key providers in the health and welfare sectors.  
road safety;  
p
automation of command and control solutions;  
p
management of identity documents, security credentials, and civil  
and criminal biometrics;  
p
modernisation of court- and prison-related administration;  
intelligent, distributed computer systems;  
infrastructuresecurity;  
p
p
p
p
As a result, public sector organisations can ensure that they meet  
their  targets  and  priorities  at  the  lowest  cost,  while  giving  their  
information  system  the  agility  it  requires  to  meet  the  high  
expectations from civil society and agents.  
mobile technologies to optimise operations on the ground.  
In addition, the Group has developed innovative solutions specific to  
the  security  sector,  to  meet  the  challenges  and  requirements  of  
clients in this field (biometrics, mobile technology, fingerprint and  
genetic  footprint  search  engines,  implementing  secure  cloud  
solutions etc.).  
4.2.3. AEROSPACE, DEFENCE AND HOMELAND
SECURITY – 16% OF 2020 REVENUE
a. Aerospace  
The aeronautics and space sector is a particularly fertile ground for  
innovation.  It  is  subject  to  constraints  regarding  reliability,  
24  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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BUSINESS OVERVIEW ANDSTRATEGIES  
Sopra Steria’s activities  
Core  media  business:  taking  up  new  models,  such  as  SVOD,  
AVOD, content aggregation, targeted advertising and 4K;  
p
p
4.2.4. ENERGY AND UTILITIES – 6% OF 2020
REVENUE
Core  gaming  business:  customer  retention  and  churn,  fraud  
reduction  and  control  over  cash  flows,  compliance  with  
regulations, digitisation of distribution channels.  
In  response  to  the  European  Union’s  target  of  becoming  
carbon-neutral  by  2050,  companies  in  the  energy  sector  face  the  
need to:  
limit their own environmental impacts and those of their clients;  
p
4.2.6. TRANSPORT – 5% OF 2020 REVENUE
take advantage of increasingly cost-competitive renewable energy  
p
The transport sector is undergoing far-reaching changes and must  
meet new challenges: growing international and urban traffic, new  
modes  of  transport  (carpooling,  low-cost  operators,  long-distance  
buses,  free-floating  systems  for  car,  bike  and  scooter  sharing,  to  
name a few), the inescapable renovation of ageing networks, while  
preparing  for  the  opening  to  competition  and  the  arrival  of  new  
digital players (Google, Uber, BlaBlaCar, etc.).  
sources,  take  on  the  industrial  challenge  of  low-carbon  nuclear  
energy and develop energy storage solutions;  
adapt  transportation  and  distribution  networks  to  the  energy  
transition;  
p
expand and enrich their portfolios of products and services;  
p
p
align  themselves  with  European  stimulus  plans  associated  with  
the EU’s Green Deal.  
Faced with these major challenges, the transport sector must strive  
to provide door-to-door, multimodal services (rail and underground,  
bicycles,  taxis,  buses,  scooters)  with  a  low  carbon  footprint,  
adopting a passenger-centric approach.  
In  a  context  of  strategic  choices  to  be  made  between  integration  
and  specialisation,  investment  priorities  focused  on  the  regulated  
arena  or  the  competitive  sector,  and  the  extent  of  
internationalisation,  digitisation  is  fast  becoming  the  inevitable  
route to step up transformation for players in this sector.  
In transport, our aim is to be the digital transformation partner for  
the main players across the three key business dimensions of their  
value  chain:  innovation  in  the  passenger  experience  to  achieve  
greater simplicity and fluidity, operational management of resources  
to  ensure  more  robust  offerings,  and  better  use  of  capital  assets  
(fleets, infrastructure).  
Sopra Steria supports energy suppliers and utilities in their strategic  
responses to trends affecting a number of areas:  
experience and client acquisition: reinventing customer relations  
and designing new services;  
p
Our  ambition  is  also  to  be  a  recognised  player  in  mobility  
ecosystems:  mobility  platforms,  autonomous  shuttles/vehicles,  and  
smart cities.  
optimisation  of  asset  performance:  controlling  operating  costs  
and securing performance;  
p
modernisation  of  networks:  accompanying  the  decentralisation  
and the digitisation of energy networks;  
p
Sopra Steria has developed business know-how in all of these fields  
based on four main themes:  
platform  company:  organising,  sharing  and  creating  value  from  
data and processes across the company and its ecosystems;  
p
infrastructure  management:  asset  management,  preventive  and  
p
predictive maintenance (e.g.industrial IoT), factory 4.0 or factory  
of  the  future,  maintenance  of  aeroplanes  and  rolling  stock,  
mobility, paperless records, etc.;  
transformation  and  resilience  of  organisations:  facilitating  
changes in organisations and business lines to promote agility.  
p
traffic management: from timetable design to transport planning,  
rolling stock management, and supervision of rail, road and air  
traffic;  
p
4.2.5. TELECOMS, MEDIA AND ENTERTAINMENT
– 4% OF 2020 REVENUE
The  telecoms,  media  and  entertainment  sector  is  at  the  centre  of  
the digital revolution, for two reasons:  
passenger  experience:  mobile  ticketing,  boarding  and  access  
control, passenger information, and new services in stations and  
airports;  
p
it supports the digitisation of all the other verticals, in particular  
p
by  feeding  the  data  collected  from  billions  of  objects  to  
algorithms;  
transport services tailored to smart cities: mass transit, sustainable  
urban  logistics,  multimodal  urban  mobility  services  (MaaS),  
collaborative mobility management.  
p
it  also  serves  as  the  testing  ground  for  the  implementation  of  
p
new technologies and uses as part of a platform-based business  
model.  
Its  digital  expertise  is  recognised  in  the  world  of  transportation,  
particularly  as  regards  transportation  big  data  expertise,  
management  of  connected  objects,  consulting  and  factory  
migration to cloud solutions, and of course artificial intelligence.  
Sopra Steria serves the transformation goals of its clients in relation  
to the following main challenges:  
Sopra Steria is one of Europe’s top 10 digital services companies in  
business and information system transformation for major clients in  
the rail, urban transport, postal services and aviation sectors.  
Deployment  of  new  infrastructures:  fibre  and  5G  to  help  
meet  countries’  industrial  requirements  by  providing  them  with  
very high-speed fixed and mobile connectivity;  
p
Infrastructure management:moving from a configurable to a  
programmable approach for essential infrastructure, such as the  
cloud, SDN/NFV and most recently 5G;  
p
4.2.7. INSURANCE – 5% OF 2020 REVENUE
The  insurance  sector  is  fiercely  competitive  due  to  the  increasing  
standardisation  of  offers,  structurally  low  long-term  interest  rates  
and the escalating regulatory burden. At the same time, clients, and  
particularly millennials, are exhibiting new behaviours, with a shift in  
expectation  toward  the  hyper-personalisation  of  products  and  
services.  
Automation: so that the company is able to interact in real time,  
in  particular  thanks  to  AI,  with  all  members  of  its  ecosystem  
(customers, suppliers, partners, employees, infrastructures);  
p
Greater business agility: making it easier to readapt, readjust  
p
and  realign  the  company  and  its  organisational  structures  to  
better  seize  new  opportunities  and  also  to  further  improve  the  
engagement of managers and their teams in service of clients;  
In  this  increasingly  competitive  global  context,  leading  insurers  
continue  to  look  to  consolidation  and  transformation  as  the  way  
forward.  To  set  themselves  apart,  they  are  developing  extended  
services and are taking into account the new risks associated with  
Digitisation of services: laying down the fundamentals of the  
platform-based  business,  thus  moving  to  fully  digital  and  
end-to-end solutions, from client to infrastructure;  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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1
BUSINESS OVERVIEW ANDSTRATEGIES  
Strategy and objectives  
use  (as  opposed  to  ownership)  of  property,  the  rise  of  service  
business models, the sharing economy and cybersecurity.  
to innovate to meet consumer demand for immediate and flexible  
services.  
Sopra Steria  offers  its  clients  a  comprehensive  solution  for  the  
implementation of new business models, support for strategic plans  
and  digital  transformation  to  put  in  place  a  platform-based  
approach, seen as essential to open the business and its information  
system to new partnerships and services across an extended value  
chain.  
Sopra Steria  assists  retailers  with  their  digital  transformation  and  
has  developed  knowledge  and  experience  in  multi-channel  
commerce, optimisation of logistics chains and understanding client  
needs. In this way, the business processes and information systems  
of these companies become a lever for performance.  
4.3. Research and Development  
in Solutions  
The Group has continued its RD efforts, investing €130.5 million  
in  2020  (versus  €109.3 million  in  2019)  in  developing  and  
expanding its business solutions. These are gross amounts and do  
not take into account funding related to the French RD tax credit  
(CIR).  
4.2.8. RETAIL – 3% OF 2020 REVENUE
Retailers  face  a  challenging  business  environment  as  well  as  
profound  and  continual  changes  in  the  shopping  habits  of  
customers,  who  increasingly  use  digital  technology.  To  remain  
competitive,  transformation  is  essential.  The  aim  is  to  secure  and  
better manage retail business practices while offering a real ability  
5.
Strategy and objectives  
CONCLUSION:
5.1. Corporate plan reaffirmed  
despite the Covid-19 crisis  
The Covid-19 crisis and its economic consequences have prompted  
the  Group  to  think  about  the  new  outlook  for  its  market  and  
reassess the relevance of its corporate plan for the years ahead.  
Within  this  context,  while  at  the  operational  level  the  Group  may  
need  to  temporarily  limit  growth  in  its  resources  and  redistribute  
them according to how the situation develops in different business  
sectors, on a strategic level, the Group has reaffirmed its corporate  
plan, is continuing with its transformation, and is ready to adopt an  
aggressive acquisition policy.  
MARKET OUTLOOK:
Although  it  has  inevitably  curbed  IT  investment  in  the  short  to  
medium term in the hardest hit sectors (tourism/hotels/restaurants,  
events,  transportation  and  the  aeronautics  industry,  in  particular),  
the  crisis  has  highlighted  the  extent  to  which  digital  technology  
helps to make companies and public authorities resilient, ensuring  
that their processes continue to operate, maintaining their abilityto  
interact with their entire ecosystem (particularly for the selling and  
provision  of  remote  services)  and  improving  their  operating  
performance.  
5.2. Strong and original positioning  
in Europe  
Sopra Steria’s  ambition  is  to  be  a  European  leader  in  digital  
transformation.  Its  high  value-added  solutions,  delivered  by  
applying  an  end-to-end  approach  to  transformation,  enable  its  
clients  to  make  the  best  use  of  digital  technology  to  innovate,  
transform their models (business as well as operating models), and  
optimise their performance.  
The  health,  organisational  and  economic  effects  of  the  crisis  are  
tending  to  push  many  companies  and  public  authorities   apart  
from in the most severely affected sectors – to step up their digital  
transformation  by  focusing  in  the  short  to  medium  term  on  the  
projects  that  are  most  important  to  ensuring  their  resilience,  in  
particular  migrating  IT  systems  to  the  cloud  and  
digitisation/automation of processes.  
The  Group’s  aim  is  to  be  the  benchmark  partner  for  large  public  
authorities,  financial  and  industrial  operators  and  strategic  
companies in the main countries in which it operates.  
To  achieve  this  aim,  Sopra Steria  continues  to  strengthen  its  key  
competitive advantages:  
business  software  solutions  which,  when  combined  with  the  
p
Group’s full range of services, make its offering unique;  
However,  the  need  to  keep  their  budgets  balanced  could  prompt  
some,  for  the  duration  of  the  crisis,  to  postpone  certain  projects  
based on breakthrough innovation and reduce the cost of running  
their processes and legacy systems to the bare minimum.  
a position among the leaders in the financial services vertical (core  
p
banking  and  specialist  lenders)  bolstered  by  the  success  of  the  
Sopra Banking Software solutions;  
very close relationships with its clients, thanks to its roots in the  
p
Furthermore, all company stakeholders are continuing to raise their  
expectations in terms of corporate social responsibility, a trend that  
has been amplified by the Covid-19 crisis, primarily on a social level  
but also with respect to the environment.  
regions  where  it  operates  and  its  ability  to  meet  core  business  
requirements without taking the prescriptive approach favoured  
by certain global providers;  
a strong European footprint with numerous locations in many of  
p
Lastly, the difficulties encountered by a certain number of specialist  
and/or medium-size operators in coping with the crisis are likely to  
result  in  acceleration  in  the  consolidation  process,  which  could  
“reshuffle  the  cards”  among  digital  services  companies  and  
software developers.  
the  region’s  countries  which,  when  combined  with  these  close  
relationships, raises its profile among large public authorities and  
strategic  companies  throughout  Europe  as  a  trusted  and  
preferred partner for all projects involving digital sovereignty.  
26  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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BUSINESS OVERVIEW ANDSTRATEGIES  
Strategy and objectives  
Lastly, the Group’s mission statement – formally adopted in 2019 –  
reflects both its values and its desire to help meet the sustainable  
development  goals  of  its  stakeholders  and  society  at  large:  
“Together,  building  a  positive  future  by  making  digital  work  for  
people.”  
educating  all  of  its  employees  in  digital  culture,  practices  and  
skills;  
p
p
keeping an eye on the market in order to clarify its digital strategy  
and target the best digital partners.  
Digitisation of offerings and business model adaptation  
The Group is gradually adapting its solutions to factor in advances  
in  digital  technology  in  a  number  of  key  areas,  such  as  the  
customer/user  experience,  analytics,  AI,  APIs  etc,  and  to  take  
account  in  their  architecture  of  changes  in  client  needs,  such  as  
growing  use  of  the  (hybrid)  cloud,  increasing  demand  for  
software-as-a-service  and  the  gradual  adoption  of  the  platform  
company model (particularly in the financial sector).  
5.3. Confirmed objectives and priority  
action areas  
5.3.1. DEVELOPMENT OF SOLUTIONS
The  Group,  currently  France’s  number-two  enterprise  software  
developer, confirms its medium-term target of bringing the share of  
its  solution  development  and  integration  activities  to  20%  of  its  
revenue.  Efforts  will  continue  to  be  focused  on  enriching  the  
Group’s  solutions,  adapting  them  to  cloud  systems,  leveraging  
API-based  access  to  data  and  services,  integrating  new  digital  
technologies,  developing  managed  services,  and  expanding  
operations into new geographic markets.  
The same approach is being applied for each of the Group’s service  
activities   Consulting,  Application  Services  (Build  and  Application  
Management),  Infrastructure  Management,  Cybersecurity,  Business  
Process Services – with the following Group objectives:  
using the potential of new technologies  analytics, AI/machine  
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learning,  smart  machines,  blockchain,  IoT,  augmented/virtual  
reality etc. – to benefit its clients through innovative applications;  
The  development  of  Sopra  Banking  Software,  whose  aim  is  to  
conquer markets beyond Europe, remains a priority. The Group also  
continues  to  strengthen  its  leading  position  in  human  resource  
management  and  property  management  solutions.  With  organic  
growth as the preferred strategy, the Group remains on the lookout  
for acquisition opportunities.  
driving  its  clients’  transformation  from  its  current  position:  for  
p
example,  the  Application  Management  offering  has  evolved  to  
encompass the end-to-end transformation of processes and the  
corresponding  modernisation  of  existing  IT  systems,  including  
connecting  digital  technologies  with  legacy  systems  and  
migrating all or some of the IT system to the cloud;  
5.3.2. DEVELOPMENT OF CONSULTING ACTIVITIES
presenting  new  end-to-end  approaches:  providing  strategic  
p
In  order  to  position  itself  even  more  securely  with  client  
decision-makers  at  the  business  department  level,  the  Group  is  
continuing its move up the value chain in consulting, and confirms  
its medium-term target of bringing the share of these activities to  
15%  of  revenue.  To  do  this,  it  is  gradually  developing  a  range  of  
consulting  services  and  capacity  in  all  of  the  regions  in  which  it  
operates,  using  a  model  that  favours  synergies  with  the  Group’s  
other  business  lines.  Consulting  will  thus  spearhead  the  digital  
transformation  of  business  lines  and  information  systems  for  the  
Group’s  clients,  while  positioning  its  other  IT  services  activities  
within an end-to-end approach to this transformation. The priorities  
in this area are upstream consulting (e.g.digital strategy, operating  
strategy, IT strategy), digital expertise and business expertise ineach  
vertical market, especially in financial services. The notoriety of the  
Sopra Steria Next brand, created in 2019 to promote the Group’s  
digital transformation consulting expertise, has benefited from this.  
In France, it is also bolstered by the Group’s decision to integrate its  
CSR mission into its consulting activities. This mission, built around  
the idea of digital ethics, is backed by a dedicated communications  
plan.  
support  for  platform-based  transformations  at  large  companies  
and  public  authorities,  implementing  digital  continuity  in  
industrial value chains, building service platforms, overseeing the  
cloud-based  and  digital  transformation  of  information  systems,  
etc.  
The digitisation of offerings and, more broadly speaking, changing  
client  expectations,  have  led  the  Group  to  adapt  its  business  
models.  The  Group  will  thus  be  selling  more  and  more  solutions  
operated on behalf of clients and, in services, increasingly leveraging  
intellectual  property  (reusable  components,  implementation  
accelerators,  etc.).  It  will  thus  generate  more  recurring  revenue  
through its solutions, with less of a direct connection to the size of  
its workforce in services.  
Technology assets  
The Group is continually investing in the exploration of new ideas  
and  expertise  in  architectures,  and  in  emerging  digital  and  cloud  
technologies and uses, relying on its teams of digital champions”  
(experts led by the Group’s Chief Technology Officer).  
At  the  same  time,  all  necessary  resources  are  being  designed  and  
put  in  place  to  rapidly  develop  and  operate  digital  solutions  on  
behalf of the Group’s clients that are natively designed tofunction  
in hybrid cloud environments:  
5.3.3. ACCELERATION IN DIGITAL TECHNOLOGY
Sopra Steria has successfully completed numerous digital projects.  
Its experience has allowed it to offer a holistic approach to digital  
transformation to the market, based on a series of best practices,  
with the ultimate goal of creating the “platform company”.  
the Digital Enablement Platform (DEP), the technical foundation  
p
for  building  or  modernising  IT  systems  (designed  to  be  able  to  
interact with components of Amplify, Axway’s hybrid integration  
platform),  an  industrial  DevOps  chain  and  an  environment  to  
capitalise  on  and  search  for  reusable  software  components,  a  
private cloud that can be extended to the main public clouds;  
To  step  up  its  commitment  to  digital  technology,  the  Group  is  
continuing to invest with the goal of:  
being at the cutting edge of the market in all of its services and  
p
business models;  
implementation  accelerators  for  new  digital  technologies  (smart  
p
machines, AI/machine learning, blockchain, IoT, etc.);  
strengthening its technology assets;  
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digital factories to enable service offerings combining consulting  
transforming its operating models;  
p
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and software (e.g. migrating information systems to the cloud).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
27
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Strategy and objectives  
Transformation of operating models  
5.3.4. TARGETING OF SPECIFIC VERTICALS
The Group is gradually changing the operating model for its services  
and  RD  activities  (by  integrating  its  aforementioned  technology  
assets):  
Focused business development  
To support the positioning it has in view, the Group is continuing its  
policy targeting specific vertical markets, key accounts and business  
areas in all countries where it operates.  
extensive  experience  with  agile  projects  (including  many  in  
p
collaboration with offshore and nearshore centres);  
There  are  eight  priority  verticals  that  currently  account  for  the  
majority  of  revenue:  Financial  Services,  Public  Sector,  Aerospace,  
Defence Homeland Security, Energy Utilities, Telecoms Media,  
Transport, Insurance, and Retail.  
rollout of processes and resources (software and digital factories)  
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for  industrialisation,  automation  and  reusable  components  
developed  to  boost  productivity  and  quality  for  IT  services  and  
RD activities.  
For each vertical, the Group selects a small number of key accounts  
(fewer than 100 at Group level), focuses on a few different business  
areas in which it aims to secure a leading position and implements  
an  inter-entity  coordination  system  for  the  different  countries  and  
subsidiaries concerned.  
In particular, this involves greater use of smart machines (robotic  
process automation, intelligent automation, virtual assistants) in  
the  Group’s  recurring  service  activities  (in  connection  with  its  
Business  Process  Services,  Infrastructure  Management,  
Application  Management  and  Support  offerings)  as  well  as  
expanding  the  reuse  of  existing  technology-  or  industry-specific  
software  components  (IP  blocks,  open  source)  and  the  use  of  
low-code/no-code  development  platforms  for  the  building  of  
solutions;  
Some  of  these  verticals  are  considered  particularly  strategic.  The  
Group has very clear strengths in several countries (broad position,  
IT  and  business  expertise,  replicable  experiences  etc.).  The  
transformation  needs  of  businesses,  public  authorities  and  
ecosystems  in  place  are  considerable  and  rely  on  similar  solutions  
from  one  country  to  the  next.  These  verticals  are  eligible  for  
corporate  investment  or  external  growth  transactions.  This  is  the  
case  in  particular  for  Financial  Services  and  Defence    Homeland  
Security.  
transformation in line with the production model of each activity  
(distribution of roles between the onshore production teams, the  
service centres, and the offshore and nearshore RD teams).  
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Skills development  
To  accompany  its  transformation,  the  Group  is  making  a  
considerable effort to train its employees and managers:  
End-to-end vertical offerings  
In  order  to  achieve  its  leadership  objective  in  its  targeted  verticals  
and business areas, the Group mobilises the development efforts of  
its various entities to build end-to-end value propositions as well as  
offerings  of  business  solutions  designed  to  address  the  business  
challenges  faced  by  its  major  clients.  As  an  example,  the  Group  
applies  this  approach  to  meet  digital  continuity  challenges  in  the  
aerospace value chain.  
expansion  of  its  training  offering:  introductory  and  more  
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advanced  courses  on  all  digital/cloud  technologies,  training  on  
new  digital  practises  and  new  industrial  environments,  training  
on the digitised services provided by the Group;  
digitisation of training resources: virtual training rooms, in-house  
p
e-learning and access to MOOC-style learning platforms.  
Particular  emphasis  is  placed  on  the  financial  services  vertical,  for  
which  the  Group  offers  comprehensive  responses  to  productivity  
issues and the challenges brought about by “platformisation” in the  
core  banking  and  specialist  lending  sectors.  These  responses  are  
based on Sopra Banking Software’s solutions and the Group’s full  
range of consulting activities and services.  
Innovation  
Numerous initiatives are being encouraged to promote and enhance  
innovation, such as the Group’s digital champions keeping an eye  
on technology advances and uses, innovation imperatives assigned  
to project teams, internal innovation competitions to develop new  
digital  uses,  hackathons  open  to  clients  and  partners,  as  well  as  
platforms  for  digital  demonstrations,  brainstorming,  co-design,  
rapid  development  and  technology  intelligence  open  to  clients,  
employees and partners (DigiLabs at all the Group’s major locations  
and a Next centre at its registered office), etc.  
5.3.5. ACQUISITION STRATEGY
In addition to regular targeted acquisitions in order to enhance its  
offering and expertise or strengthen its position in certain regions,  
the  Group  is  ready  to  play  an  active  role  in  market  consolidation,  
which  will  inevitably  be  boosted  by  the  Covid-19  crisis.  In  this  
context, it will be able to carry out larger acquisitions.  
Ecosystem of partners  
Special  efforts  are  being  made  to  establish  targeted  partnerships  
with  leading  players  in  the  digital  ecosystem  by  vertical  and  by  
major  technology  area  (startups  and  niche  players,  institutions  of  
higher  education  and  research  laboratories,  top  software  
development  companies,  tech  giants,  etc.).  It  is  within  this  
framework that a strategic partnership has been forged with Axway.  
5.3.6. INTEGRATING THE GROUP’S CSR AMBITIONS
INTO ITS STRATEGY
To fulfill the mission it has adopted, achieve the targets set in this  
regard and respond to its clients’ growing demands, the Group is  
gradually  factoring  social  and  environmental  concerns  into  its  
strategy in three main areas:  
In  order  to  ensure  effective  market  intelligence,  a  collaborative  
startup observatory is made available to the Group’s teams of digital  
champions and all its managers.  
Digital  ethics:  Sopra Steria  promotes  a  responsible  approach  in  
p
In  certain  very  specific  cases  relating  to  its  digital  strategy,  the  
Group  may  directly  or  indirectly  take  equity  stakes  (through  
specialised  funds)  in  young  startups  that  it  considers  as  the  most  
innovative in the market, applying a corporate venturing approach.  
its consulting services.  
Green IT: the Group’s different business lines work to assess and  
p
optimise  the  environmental  impact  of  the  digital  solutions  they  
offer, build and operate for their clients (as part of a green IT”  
approach).  
IT for Green: the Group’s activities in this area help clients address  
p
their  sustainability  priorities,  using  new  technologies  to  develop  
innovative environmentally and climate-friendly solutions.  
28  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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BUSINESS OVERVIEW ANDSTRATEGIES  
2020 Full-year results  
This plan is set within an upbeat market for digital services, which  
have  been  boosted  for  several  years  now  by  demand  for  digital  
transformation on the part of businesses and institutions looking to  
increase their resilience.  
5.4. Medium-term strategic objectives  
Sopra  Steria’s  strategy  is  built  around  its  independent  corporate  
plan focused on sustainable value creation for its stakeholders. This  
European  plan  is  underpinned  by  expansion  through  organic  and  
acquisition-led  growth.  Its  goal  is  to  generate  substantial  added  
value by harnessing a comprehensive range of powerful consulting  
and software solutions deployed using an end-to-end approach and  
capitalising  on  our  combined  technology  and  sector-specific  
expertise.  
Within this context, over the medium term, Sopra Steria is targeting  
compound annual organic revenue growth of between 4% and 6%,  
an operating margin on business activity of around 10%, and free  
cash flow of between 5% and 7% of revenue.  
6.
2020 Full-year results  
In parallel, Sopra Steria continued to implement its strategic  
plan:product development for Sopra Financing Platform and Sopra  
Banking  Platform,  shifting  activities  in  the  United  Kingdom  to  a  
platform-based model, building up the Sopra Steria Next consulting  
brand,  industrialisation,  and  targeted  acquisitions  to  reinforce  
insurance  activities  in  France  and  in  digital  banking  for  Sopra  
Banking Software. A plan aimed at achieving zero net emissions by  
2028 was also announced.  
6.1. Comments on 2020 performance  
2020  was  marked  by  two  exceptional  events:  the  Covid-19  
pandemic  starting  in  March,  and  a  cyberattack  in  October.  These  
two events had a significant impact on the Group’s business activity.  
Measures  imposing  lockdowns  and  restricting  people’s  movement  
led to a decline in business under existing contracts and new orders.  
The  aeronautics  and  transport  industries,  in  particular,  contracted  
between 20% and 30% starting in the second quarter. The response  
to  the  cyberattack  involved  information  and  production  systems  
being unavailable to varying degrees over a period of several weeks  
in the fourth quarter. The negative impact on 2020 business activity  
of these two events is estimated at around 10 points of growth. The  
cyberattack itself had a negative 1 point impact on revenue and a  
negative  0.2  point  impact  on  the  operating  margin  on  business  
activity.  
DETAILS ON 2020 OPERATING PERFORMANCE
Consolidated  revenue  totalled  €4,262.9  million,  down  3.9%.  
Changes  in  scope  had  a  positive  impact  of  €76.1  million,  and  
currency  fluctuations  had  a  negative  impact  of  €33.5  million.  The  
negative  organic  growth  in  revenue  came  to  4.8%.  Excluding  
exceptional items, Q3 and Q4 showed an improvement in business  
activity compared with the low point observed in Q2.  
In  spite  of  this  challenging  context,  Sopra  Steria  was  highly  
resilient.  The  negative  organic  growth  in  revenue  was  limited  to  
4.8%. The decline in the operating margin on business activity was  
limited to 1 point and free cash flow was highly resilient, at €203.5  
million,  although  it  was  boosted  by  the  favourable  impact  of  
around  €50  million  in  non-recurring  items.  In  addition,  at  31  
December  2020,  average  consultant  downtime  had  returned  to  
normal levels.  
Operating  profit  on  business  activity  came  to  €300.2  million  
(€354.3 million in 2019), equating to a margin of 7.0% (8.0% in  
2019).  
The  France  reporting  unit  (39%  of  the  Group’s  revenue)  
generated  revenue  of  €1,655.6  million,  representing  negative  
organic  growth  of  10.2%.  It  was  particularly  affected  by  external  
factors  (pandemic  and  cyberattack)  due  to  the  structure  of  its  
activity and the significance of the aeronautics sector (20% of the  
reporting  unit’s  revenue  in  Q1  2020;  revenue  down  20%  
year-on-year). Conversely, the public sector was highly resilient: the  
defence  and  government  vertical  markets  showed  strong  gains  
while social services (job centres, health insurance, etc.) contracted  
slightly. Against this backdrop, operating profit on business activity  
came to 6.8% in 2020 (9.7% in 2019). Excluding exceptional items,  
the  second  half  of  the  financial  year  showed  an  improvement  in  
business activity, suggesting a gradual recovery in performance may  
be  expected  in  2021.  The  aeronautics  sector  showed  signs  of  
stabilising.  Consultant  downtime  returned  to  normal  levels.  Hiring  
resumed.  
The  resilience  the  Group  has  shown  is  due  to  several  factors.  
First  of  all,  recurring  activities  (business  process  services,  IT  
infrastructure management, application maintenance and software  
maintenance) make up around 40% of revenue. Next, the Group’s  
sales strategy focuses on clients it has identified as strategic, which  
are mainly large accounts and public authorities (the public sector  
makes up around 30% of revenue). Lastly, the Group’s team spirit  
and  entrepreneurial  culture  facilitated  rapid  decision-making  and  
measures to adapt to a changing environment. Cost-saving plans,  
for example, were rapidly launched.  
Particular  attention  was  paid  to  human  resource  
management. Keeping staff informed and social dialogue were a  
fundamental priority. The use of state aid programmes was limited  
and responsible. The Group’s priority was preserving skills and jobs,  
especially  in  the  sectors  most  affected  by  declines  in  business  
activity, thanks to training and internal mobility.  
The  United  Kingdom  (16%  of  the  Group’s  revenue)  was  highly  
resilient,  with  revenue  of  €699.8  million,  representing  positive  
organic  growth  of  1.9%.  This  growth  was  driven  by  the  strong  
performance  achieved  by  the  two  joint  ventures  specialising  in  
business process services for the public sector (NHS SBS and SSCL).  
They  posted  revenue  of  €339.3  million,  representing  average  
organic growth of 16.0%. The defence  security and government  
sectors proved fairly resilient. The private sector, on the other hand,  
was under pressure, although new promising contracts were won,  
in  particular  in  the  banking  sector.  The  operating  margin  on  
business activity improved to 8.0% (7.3% in 2019).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
29
1
BUSINESS OVERVIEW ANDSTRATEGIES  
2020 Full-year results  
The Other Europe reporting unit(29% of Group revenue) posted  
organic revenue growth of 2.3% to €1,249.0 million. Growth was  
brisk  in  Scandinavia  and  Belgium,  while  the  other  countries  saw  
slightly  negative  growth.  In  addition,  revenue  generated  by  Sopra  
Financial Technology (€204.9 million) for operating the information  
system  of  the  Sparda  banks  in  Germany  was  up  16.9%.  The  
operating  margin  on  business  activity  improved  in  virtually  every  
country in the reporting unit, totalling 8.1% compared with 6.7% in  
2019.  
6.3. Proposed dividend in respect  
of financial year 2020  
At its meeting of 25 February 2021, the Board of Directors of Sopra  
Steria  Group  decided  to  propose  at  the  General  Meeting  of  the  
Shareholders to be held on 26 May 2021 that a dividend of €2.00  
per share be distributed. The ex-dividend date will be 1 June 2021.  
The dividend will be paid as of 3 June 2021.  
Revenue  for  Sopra  Banking  Software  (10%  of  Group  revenue)  
came  to  €421.6  million,  an  organic  contraction  of  9.1%.  Licence  
sales  proved  highly  resilient  while  services  saw  a  deterioration,  
particularly during the lockdown period in the first half of the year.  
The second half of the year (-7.3%) showed a relative improvement  
with more limited negative growth than in the first half (-10.9%).  
The year was especially noteworthy for the Group’s adherence to its  
product  development  plan  (for  both  Sopra  Banking  Platform  and  
Sopra  Financing  Platform)  and  the  first  signs  of  improvement  in  
project  margins,  in  line  with  the  goal  of  gradually  returning  to  a  
double-digit margin. Operating profit on business activity came to  
€10.5 million (versus €4.9 million in 2019), equating to a margin of  
2.5%.  
6.4. Workforce  
At  31 December  2020,  the  Group’s  workforce  totalled 45,960  
people  (46,245  at  31 December  2019),  with 17.6%%  working  
in X-Shore zones.  
6.5. Social and environmental  
footprint  
Sopra  Steria  sees  its  contribution  to  society  as  sustainable,  
human-focused  and  purposeful,  guided  by  the  firm  belief  that  
making  digital  work  for  people  is  a  source  of  opportunity  and  
progress.  
The Other Solutionsreporting unit (6% of Group revenue) posted  
revenue of €236.9 million, representing negative organic growth of  
8.9%. This change resulted from a decline in licence sales and the  
postponement  of  certain  project  launches.  Following  a  significant  
improvement in the second half of the year (12.7% versus 5.0% in  
the first half), the operating margin on business activity for the full  
year came to 8.8% (versus 15.7% in 2019).  
On 8 December 2020, CDP confirmed that Sopra Steria had made  
its  A  List   recognising  the  world’s  most  transparent  and  most  
proactive companies in the fight against climate change  for the  
fourth  year  in  a  row.  The  Group  stepped  up  its  ongoing  climate  
commitments  in  2020  with  the  announcement  of  its  target  of  
achieving  zero  net  emissions  by  2028.  Since  2015,  Sopra  Steria’s  
annual reduction in its greenhouse gas emissions has been aligned  
with this trajectory.  
6.2. Comments on the components  
of net profit attributable to  
the Group and Financial position  
at 31 December 2020  
Profit  from  recurring  operations  totalled  €261.2  million.  It  
included a €4.2 million share-based payment expense and a €34.8  
million amortisation expense on allocated intangible assets.  
The Group also continued to increase the number of women in its  
workforce in 2020. The proportion of women, excluding theimpact  
of acquisitions during the year, went from 32.0% to 32.5% thanks  
to an increase in women among new recruits (34.0% of new hires  
versus  33.1%  in  2019).  This  change  should  be  viewed  within  the  
context  of  the  proactive  policy  aimed  at  gradually  increasing  the  
number of women in senior management positions and the target  
set to have women make up 30% of the Executive Committee by  
2025.  
Operating profitwas €202.3 million after a net expense of €58.9  
million for other operating income and expenses (compared with a  
net expense of €31.0 million in 2019), including expenses of €15.6  
million  attributable  to  additional  costs  arising  from  Covid-19  and  
€5.3 million related to the impact of the cyberattack.  
6.6. Acquisition and external growth  
transactions  
The tax expensetotalled €60.4 million, for an effective tax rate of  
34.1%.  
SAB  
p
On 7 August 2020, the remaining 30% stake in SAB not yet held by  
the  Group  was  acquired  by  Sopra  Steria  from  SAB’s  minority  
shareholders.  
The share of profit from equity-accounted companies(mainly  
Axway Software) was €2.3 million (€1.8 million in 2019).  
After  deducting  €12.2  million  in  minority  interests,  net  profit  
attributable  to  the  Group  came  to  €106.8  million  (€160.3  
million in 2019).  
Sodifrance  
p
On  16  September  2020,  Sodifrance  was  added  to  Sopra  Steria’s  
scope  of  consolidation.  Following  the  acquisition  of  a  94.03%  
controlling  interest  in  the  share  capital,  a  public  tender  offer  and  
compulsory delisting were carried out at the price of €18 per share .  
The  Sodifrance  shares  were  delisted  from  Euronext  Paris  on  18  
November 2020.  
Basic earnings per sharecame to €5.27 (€7.92 in 2019).  
Free cash flow was very strong, at €203.5 million (€229.3 million  
in  2019).  The  free  cash  flow  conversion  rate    with  respect  to  
operating profit on business activity, remained stable at 51%.  
Net financial debt totalled €425.6 million, down 17.2% from its  
level at 31 December 2019. It was equal to 29.4% of equity (36.1%  
at  31/12/2019)  and  1.1x  pro  forma  EBITDA  for  2020  before  the  
impact  of  IFRS  16  (with  the  financial  covenant  stipulating  a  
maximum of 3x).  
30  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Subsequent events  
Fidor Solutions  
land and buildings: €2.1m;  
p
p
p
p
On 31 December 2020, Fidor Solutions was added to Sopra Steria’s  
scope of consolidation. Fidor Solutions was the software subsidiary  
of  next-generation  bank  Fidor  Bank  specialising  in  digital  banking  
solutions.  This  acquisition  will  significantly  accelerate  the  pace  of  
development  and  marketing  of  Sopra  Banking  Software’s  digital  
solutions, in particular by augmenting the user features offered to  
banks  through  its  Digital  Banking  Engagement  Platform  (DBEP)  
solutions.  
fixtures and fittings: €12.0m;  
IT equipment: €13.8m.  
6.8. Targets for 2021  
Although the situation is improving, the overall environment is still  
beset with many uncertainties. Based on the information available  
at end-February 2021, Sopra Steria has set the following targets for  
the year:  
6.7. Infrastructure and technical  
facilities  
A  total  of  €27.8  million  was  invested  in  2020  in  infrastructure  
andtechnical facilities, as against €33.0 million in 2019.  
Organic revenue growth of between 3% and 5%, includinga first  
quarter in which growth remains negative;  
p
Operating  margin  on  business  activity  of  between  7.5%  and  
8.0%;  
p
Free cash flow of around €150 million.  
p
Investments in facilities comprised the following:  
7.
Subsequent events  
No subsequent events occurred after the end of financial year 2020.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
31
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Simplified Group structure at 31 December 2020  
8.
Simplified Group structure  
at 31 December 2020  
32  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Group organisation  
9.
Group organisation  
Sopra Steria Group’s governance consists of a Board of Directors,  
Chairman,  Chief  Executive  Officer  and  Deputy  Chief  Executive  
Officers.  
Members of the Sopra Steria Executive Committee:  
Vincent Paris, Chief Executive Officer;  
p
John Torrie, Deputy Chief Executive Officer;  
p
The  organisation  is  supported  by  a  permanent  operational  and  
functional  structure  as  well  as  temporary  structures  for  the  
management of particular deals and projects.  
Laurent Giovachini, Deputy Chief Executive Officer;  
p
Eric Pasquier, Sopra Banking Software;  
p
Pierre-Yves Commanay, Continental Europe;  
p
Sopra  GMT,  the  holding  company  that  takes  an  active  role  in  
managing  the  Group,  takes  part  in  conducting  Group  operations  
through:  
Cyril Malargé, Chief Operating Officer;  
p
Xavier Pecquet, Key Accounts and Partnerships, Vertical Aeroline;  
p
its  presence  on  the  Board  of  Directors  and  the  three  Board  
p
Jean-Claude Lamoureux, Sopra Steria Next (Consulting);  
p
committees;  
Urs Kraemer, Germany;  
p
a tripartite assistance agreement entered into with Sopra Steria  
p
John Neilson, United Kingdom;  
p
and  Axway,  concerning  services  relating  to  strategic  
decision-making,  coordination  of  general  policy  between  
Sopra Steria  and  Axway,  and  the  development  of  synergies  
between  these  two  companies,  as  well  as  consulting  and  
assistance  services,  particularly  with  respect  to  finance  and  
control.  
Étienne du Vignaux, Finance;  
p
William Ferré, Industrial Approach;  
p
Yvane Bernard-Hulin, Legal;  
p
Fabienne Mathey-Girbig, Corporate Responsibility and Sustainable  
Development;  
p
9.1. Permanent structure  
Christophe de Tapol, Strategy;  
p
Mohammed Sijelmassi, Technology;  
p
The Group’s permanent structure is composed of four operational  
tiers and their associated functional structures.  
Jean-Charles Tarlier, Human Resources Development.  
p
Other committees overseen by Executive Management  
9.1.1. TIER 1: EXECUTIVE MANAGEMENT AND THE
EXECUTIVE COMMITTEE
The  Group  Operating  Committee  consists  of  the  members  of  the  
Executive Committee and 18 operational directors for countries or  
subsidiaries. Four of its members are women.  
Executive Management is represented by the Chief Executive Officer,  
the Deputy CEOs and the Chief Operating Officer.  
The Group Management Committee consists of the members of the  
Group Operating Committee, together with 18 operational directors  
and  functional  directors  of  the  Purchasing,  Internal  Control,  
Industrial,  Finance,  Real  Estate,  Marketing  and  Communications,  
Investor  Relations  and  Human  Resources  functions.  Eight  of  its  
members are women.  
Members of Executive Management as at  
31 December 2020:  
Vincent Paris, Chief Executive Officer of Sopra Steria Group;  
p
John  Torrie,  Deputy  Chief  Executive  Officer  of  Sopra Steria  
p
Group;  
9.1.2. TIER 2: SUBSIDIARIES OR COUNTRIES
Laurent Giovachini, Deputy Chief Executive Officer of Sopra Steria  
p
Group.  
These  are  the  main  operating  entities.  Their  scope  corresponds  to  
one of the following:  
The  Executive  Committee  (ExCom)  consists  of  Executive  
Management and the heads of the main operating and functional  
entities.  
a  specific  line  of  business  (consulting  and  systems  integration,  
p
development  of  business  solutions,  infrastructure  management  
and  cloud  services,  cybersecurity  services  and  business  process  
services);  
The  17 members  of  Sopra Steria  Group’s  Executive  Committee  
supervise  the  Group’s  organisation,  management  system,  major  
contracts  and  support  functions  and  entities.  They  are  involved  in  
the  Group’s  strategic  planning  and  implementation.  Two  of  its  
members are women.  
geographic area (country).  
p
These entities are managed by their own Management Committee,  
comprising  in  particular  the  Director  and  management  of  
tier 3 entities.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
33
1
BUSINESS OVERVIEW ANDSTRATEGIES  
Group organisation  
These  centralised  functions  ensure  Group-wide  consistency.  
Functional  managers  transmit  and  ensure  commitment  to  the  
Group’s  core  values,  serve  the  operational  entities  and  report  
directly to Executive Management.  
9.1.3. TIER 3: DIVISIONS
Each  country  or  subsidiary  is  made  up  of  divisions  based  on  two  
criteria:  
vertical market;  
p
The  Group’s  functional  structures  standardise  management  rules  
(information system resources, IT systems, financial reporting, etc.)  
and monitor the application of strategies and rules. In this manner,  
they  contribute  to  overall  supervision  and  enable  the  operational  
entities to focus on business operations.  
geographic area (region).  
p
9.1.4. TIER 4: BUSINESS UNITS
Each  division  is  made  up  of  business  units,  which  are  the  
organisation’s  primary  building  blocks.  They  operate  as  profit  
centres  and  enjoy  genuine  autonomy.  They  have  responsibility  for  
their  human  resources,  budget  and  profit  and  loss  account.  
Management  meetings  focusing  on  sales  and  marketing  strategy  
and human resources are held weekly, and the operating accounts  
and budget are reviewed on a monthly basis.  
9.1.7. A SOLID, EFFICIENT INDUSTRIAL
ORGANISATION
Sopra Steria  manages  complex  and  large-scale  programmes  and  
projects in a market where delivery commitments are increasing and  
becoming globalised. The Group has an increasingly wide range of  
skills  to  support  multi-site  projects  that  generate  strong  gains  in  
productivity with delivery models that guarantee clients an optimal  
cost structure.  
The  diagram  below  illustrates  the  four  main  tiers  of  the  ongoing  
structure:  
Sopra Steria applies an industrial production approach, supported  
by five levers:  
production  culture:  transmission  of  know-how  and  expertise  in  
p
the field;  
choice  of  personnel:  human  resources  are  central  to  the  
p
approach,  providing  training,  support  and  improved  skills  for  
each employee;  
organisation: the Industrial Department and its representatives in  
p
the  business  units  control  production  quality  and  performance,  
identify and manage risks, support project managers and roll out  
industrialised production processes;  
state-of-the-art industrial-scale foundation: the Delivery Rule Book  
p
(DRB),  the  Digital  Enablement  Platform  (DEP)  and  the  Quality  
System across the Group’s various entities;  
global  delivery  model:  rationalising  production  by  pooling  
p
resources  and  expertise  within  service  centres,  with  services  
located based on the needs of each client (local services and skill  
centres  in  various  entities,  shared  service  centres  nearshore  in  
Spain,  North  Africa  and  Poland,  and  offsore  shared  service  
centres in India.  
9.1.5. OPERATIONAL SUPPORT FUNCTIONS
The operational organisation is strengthened by operational support  
entities responsible for managing major transformations:  
9.2. Temporary structures for specific  
deals and projects  
the  Key  Accounts  and  Partnerships  Department  (DGCP),  
p
responsible  for  promoting  the  Key  Accounts  policy  and  
developing relations with partners. The role of this department is  
to coordinate the commercial and production approaches for our  
major clients, particularly when different entities are involved;  
The Group’s organisation must retain flexibility in order to adapt to  
changes  in  its  markets  and  ensure  the  successful  completion  of  
projects.  
These are handled by temporary teams:  
the Digital Transformation Office (DTO), responsible for designing  
and  managing  the  Group’s  digital  transformation.  It  also  
manages the Group’s innovation approach;  
p
within the entities;  
p
under  the  authority  of  a  pilot  entity,  established  to  leverage  
p
synergies across several entities.  
the Industrial Department, responsible for industrialising working  
methods and organising subcontracting on X-shore platforms. It  
also checks that projects are properly executed.  
p
Each  project  is  organised  and  carried  out  in  order  to  meet  
fundamental  objectives:  client  service,  business  success,  and  
contribution to the overall growth of the Group.  
Depending  on  their  particularities  (size,  area  of  expertise,  
geographic  area  covered),  large-scale  projects  can  be  managed  at  
the  business  unit,  division,  subsidiary/country  or  Executive  
Management level. Certain large projects requiring the resources of  
several business units may involve the creation of a division.  
9.1.6. FUNCTIONAL STRUCTURES
The functional departments are the Human Resources Department,  
the  Marketing  and  Communications  Department,  the  Corporate  
Responsibility  and  Sustainable  Development  Department,  the  
Internal  Control  Department,  the  Finance  Department,  the  Legal  
Department,  the  Real  Estate  Department,  the  Purchasing  
Department, and the Information Systems Department.  
34  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
2. Risk factors  
and internal control  
Risk factors
36
36  
36  
37  
1.  
1.1.
Risk identification and assessment  
Summary overview of risk factors  
Detailed presentation of risk factors  
1.2.
1.3.
Insurance
43
44
2.  
Internal control and risk management
3.  
3.1.
Objectives and framework for the internal control  
and risk management system  
44  
44  
44  
46  
48  
3.2.
3.3.
3.4.
3.5.
Scope  
Components of the internal control and risk management system  
Participants in internal control and risk management  
Assessment and continuous improvement process  
Procedures relating to the preparation and processing of accounting
and financial information
4.  
49
49  
49  
4.1.
Coordination of the accounting and financial function  
4.2.
Preparation of the published accounting and financial information  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
35
2
RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
1.
Risk factors  
1.1. Risk identification and assessment  
The  identification  and  assessment  of  risks  and  monitoring  of  the  
implementation of associated mitigation plans are conducted on a  
continuous  basis  by  the  various  operational  and  functional  
departments using the Group’s management system, as described  
in  Section 3.3.2  of  this  chapter.  These  help  with  the  preparation  
and yearly updating of the Group’s risk mapping. This risk mapping  
covers all internal and external risks and includes both financial and  
non-financial  issues.  It  is  coordinated  by  the  Internal  Control  
Department.  The  main  operational  and  functional  managers  are  
involved  through  interviews  and  validation  workshops.  The  results  
were  reviewed  and  approved  by  Executive  Management  and  
presented to the Audit Committee of the Board of Directors.  
certain in terms of likelihood; and low, moderate, significant, critical  
in  terms  of  impact.  The  time  frame  used  is  five  years.  Specific  
mapping  for  corruption  and  influence-peddling  risks  and  risks  
relating to duty of vigilance are taken into account in this general  
risk mapping.  
The most significant risks specific to Sopra Steria are set out below  
by  category  and  in  decreasing  order  of  criticality  (based  on  the  
crossover  between  likelihood  of  occurrence  and  the  estimated  
extent  of  their  impact),  taking  account  of  mitigation  measures  
implemented. This presentation of net risks is not intendedto show  
all Sopra Steria’s risks. The assessment of this order of importance  
may  be  changed  at  any  time,  in  particular  due  to  new  external  
factors,  changes  in  operations  or  a  change  in  the  effects  of  
mitigation measures.  
This exercise consists of identifying the risks that could limit Sopra  
Steria’s  ability  to  achieve  its  objectives,  as  well  as  assessing  their  
likelihood of occurrence and their impact should they occur, on a  
financial,  strategic,  operating  and  reputational  level.  Risks  are  
assessed  on  a  scale  of  four  levels:  very  low,  low,  possible,  almost  
For each risk, a description is provided explaining in what ways it  
could affect Sopra Steria as well as the risk managementmeasures  
put in place, i.e. governance, policies, procedures and controls.  
1.2. Summary overview of risk factors  
The table below shows the results of this assessment in terms of net importance on a scale of three levels, from least important (+) to most  
important (+++).  
Category/Risk  
Materiality  
Risks related to strategy and external factors  
Adaptation of services to digital transformation, innovation  
Significant reduction in client/vertical activity  
Major acquisitions  
+++  
++  
++  
Attacks on reputation  
++  
Risks related to operational activities  
Cyberattacks, systems security, data protection  
Extreme events and response to major crises  
Sale and delivery of projects and managed/operated services  
+++  
+++  
+
Risks related to human resources  
Development of skills and managerial practices SNFP(1)  
Attracting and retaining employees SNFP
++  
+
Risks related to regulatory requirements  
Compliance with regulations SNFP
+
(1) SNFP: Statement of Non-Financial Performance. This risk also relates to concerns addressed by the regulatory changes set out in Articles L. 225-102-1 III and R. 225-105 of the French  
Commercial Code, which cover the Company’s Statement of Non-Financial Performance.  
36  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
The  Covid-19  pandemic  has  created  considerable  uncertainty  for  
Sopra Steria concerning its business environment. These conditions  
have been taken into account in analysing risk insofar as they may  
change  both  the  nature  of  risk  and  the  medium-term  assessment  
thereof.  Some  risks   already  identified  before  the  pandemic    
remain a topical issue in order to maintain the resilience of Sopra  
Steria’s  business  model,  in  particular  those  relating  to  adapting  
services to digital transformation, innovation, developing skills and  
managerial practises and even risk relating to cyberattacks, systems  
security and data protection.  
IMPACT OF THE COVID-19 PANDEMIC
The  Covid-19  pandemic  has  inevitably  affected  the  Group’s  risk  
environment.  A  number  of  risks  have  materialised  in  one  way  or  
another  or  require  increased  vigilance.  The  main  impact  of  the  
health  crisis  lies  in  the  downturn  in  activity  for  certain  sectors  or  
clients that have been hardest hit by the economic situation, such as  
aerospace and transport.  
This  event  also  required  a  certain  number  of  measures  to  protect  
employees’  health  and  safety  by  rigorously  applying  government  
recommendations  with  the  introduction  of  widespread  working  
from home and observance of health measures at sites, to ensure  
the  continuity  of  our  services  to  clients,  and  to  adapt  the  
management of operations and implement measures to restructure  
and  reorganise  operations  where  necessary.  The  impacts  of  the  
Covid-19 pandemic observed by the Group in 2020 are described in  
Section 6.1 (Comments on 2020 performance) of Chapter 1 and in  
Note 1.3  to  the  consolidated  financial  statements  (Impact  of  the  
Covid-19  crisis  on  the  consolidated  financial  statements  for  the  
period), in Chapter 5.  
IMPACT OF THE CYBERATTACK
The risk of a cyberattack is one of the main risks identified by the  
Group. The detailed presentation below describes the nature of the  
risk and the procedures put in place by the Group to mitigate the  
effects (1.3.2 Risks related to operational activities).  
The impact of the cyberattack suffered by Sopra Steria in 2020 is set  
out in Section 6.1 (Comments on 2020 performance) of Chapter 1  
(pages  29  to  30)  and  in  Note 4.2.3  to  the  consolidated  financial  
statements  (Other  operating  income  and  expenses  included  in  
Operating profit), in Chapter 5 (page 174).  
1.3. Detailed presentation of risk factors  
1.3.1. RISKS RELATED TO STRATEGY AND EXTERNAL FACTORS
ADAPTATION OF SERVICES TO DIGITAL TRANSFORMATION AND INNOVATION  
Risk description  
The business activities of the Group’s clients are changing and are being transformed as a result of their digital transformation and the  
emergence of new competitors, new businesses and new organisations. Clients are seeking to become more agile, and to do so they are  
reinventing their business models, organisational structures and resources. These developments concern all of the Group’s businesses.  
If  the  Group  is  unable  to  understand,  satisfy  and  anticipate  clients’  needs,  an  unsuitable  market  positioning  and/or  difficulties  in  
implementing its strategy could significantly impact its financial performance and image, and ultimately call into question its strategy.  
Risk management measures  
The management of this risk is integrated into the development of  
the  Group’s  strategy  as  well  as  its  effective  implementation.  Each  
year,  the  Group  conducts  a  strategy  review  and/or  update,  under  
the supervision of the Strategy Department, the Chairman and the  
Chief Executive Officer, with the assistance of the Group’s Executive  
Committee,  covering  some  or  all  business  lines  and  markets  in  
which  it  operates. This  exercise,  which  draws  both  on  external  
studies  and  internal  feedback  from  stakeholders  in  contact  with  
clients,  leads  the  Group  to  take  a  certain  number  of  decisions,  in  
particular  involving  the  transformations  to  be  undertaken  or  the  
acquisitions strategy. These decisions are applied, on the one hand,  
by  the  central  functions,  responsible  in  particular  for  investing  on  
behalf  of  the  entire  Group  in  support  of  the  planned  
transformations  and,  on  the  other  hand,  by  all  Group  entities  
(countries  and  subsidiaries)  as  part  of  the  updating  of  their  
three-year  strategic  plans.  The  Group-wide  implementation  of  the  
transformations  initiated  by  the  central  functions  as  well  as  the  
progress made on each entity’s strategic plan are monitored on a  
regular basis by the Chairman, the Chief Executive Officer and the  
Strategy  Department,  in  liaison  with  the  Group’s  Executive  
Committee.  
By  way  of  illustration,  the  following  were  subject  to  additional  
review and/or monitoring in 2020:  
the project for all entities and more specifically the transformation  
p
of the “France” business unit (concerning in particular the rollout  
of updating of information systems);  
the  strategy  in  the  United  Kingdom  (in  particular  the  
p
development  of  service  platforms)  and  the  transformation  of  
Sopra  Banking  Software  (digitisation  of  services,  transformation  
of RD);  
the  development  of  Consulting  activities  within  the  Group  
p
(particularly  in  France,  under  the  brand  name  “Sopra  Steria  
Next”);  
the  strengthening  of  the  Group’s  position  in  its  priority  vertical  
p
markets;  
the Group’s industrial policy;  
p
the skills development;  
p
the technological partnership with Axway;  
p
acquisitions.  
p
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
SIGNIFICANT REDUCTION IN CLIENT/VERTICAL ACTIVITY  
Risk description  
In general, the overall unstable economic situation in Europe as well as possible consolidation within the various sectors, or a slowdown in  
the business activity of a specific client or major sector, could have a negative impact on the Group.  
The difficult situation in certain sectors  in particular aerospace  severely weighed down the Group’s business activity in 2020 and is  
likely to continue to have a material impact for several quarters, depending on the scale and duration of the health and economic crisis.  
To cope with budgetary pressure, a major client or even the entire sector could be forced to curtail IT investment projects, resulting for the  
Group in the loss of associated revenue and requiring the reassignment of the teams in place, a risk all the more difficult to manage if the  
downward fluctuations could not have been predicted.  
Main clients include Airbus Group, Banque Postale, CNAM, Crédit Agricole, EDF, the UK Home Office, the French Ministry of the Armed  
Forces, the French Ministry of the Economy, Finance and Recovery, the UK Ministry of Defence, the UK Ministry of Justice, Orange, the UK  
Metropolitan Police, the UK National Health Service, Sparda Banken, SNCF and Société Générale.  
In 2020, the Group’s top client accounted for 5.9% of revenue, the top five clients represented 18% and the top ten contributed 28%.  
Risk management measures  
The  Group’s  policy  is  to  maintain  a  multi-client  and  multi-sector  
portfolio  across  multiple  geographical  operations  and  sites,  in  
particular to avoid any uncontrolled concentration risk.  
meetings  is  also  organised  within  the  Group  to  monitor  market  
developments.  
Furthermore,  swiftly  implemented  action  plans  have  helped  to  
mitigate some of the effects of a reduction in business activity, such  
as  transferring  projects  to  the  job  markets  affected,  reskilling  of  
employees  and  limiting  subcontractors.  These  mechanisms  have  
been  activated  in  order  to  limit  the  consequences  of  the  current  
health and economic crisis.  
The Group’s strategy relating to key accounts is reviewed each year  
in  accordance  with  country,  business  line  and  sector-specific  
strategic  reviews  in  order  to  adapt  this  strategy  to  market  
developments.  This  is  the  object  of  a  dedicated  exercise  with  all  
concerned parties. A regular review at monthly steering committee  
MAJOR ACQUISITIONS  
Risk description  
The Group’s development strategy is based in part on its ability to identify potential acquisition targets and integrate them into its general  
offering, whether to supplement or improve it. Any major difficulty in integrating companies, generating the expected synergies, retaining  
staff of acquired entities or achieving a return on these acquisitions in future could have a negative impact on the Group’s financial results  
and outlook.  
Risk management measures  
Proposed acquisitions in the process of being identified, assessed or  
negotiated  are  reviewed  on  a  regular  basis  by  a  dedicated  
committee.  Due  diligence  procedures  are  implemented  for  all  
proposed acquisitions in order to identify the inherent risks of the  
potential  deal.  These  audits   carried  out  in  collaboration  with  
external advisors – concern both financial aspects and the valuation  
of  the  target,  as  well  as  operating,  legal  and  taxation  aspects,  
human resources, governance, compliance and business ethics, and  
issues relating to the environment and society.  
All  procedures  associated  with  this  upstream  process  have  been  
revised  and  supplemented  to  create  the  “MA  Playbook”,  which  
now applies to MA and corporate venture deals.  
Any  acquisitions  are  then  subject  to  an  integration  programme,  
making it possible to anticipate and then monitor all key stages of  
the  process  from  a  strategic,  operating,  financial  and  human  
perspective.  These  integration  policies  and  procedures  are  in  
addition to the “MA Playbook”.  
ATTACKS ON REPUTATION  
Risk description  
Given its size, multiple geographical locations and positioning in projects at the heart of the clients’ information systems and more visible  
projects for end clients (e.g. platform activities in the United Kingdom, major public sector transformation projects, payroll outsourcing  
activities), the Group could become increasingly exposed to the spreading of negative information in the media, whether proved or not,  
stemming from media attacks by external or internal stakeholders or negative comments on social media.  
If the Group were to be the object of damaging media coverage or negative messages, this could have an adverse impact on its image  
and attractiveness and have repercussions on its financial performance.  
Risk management measures  
The  Group  has  set  up  a  media  monitoring  system  in  order  to  be  
informed  as  soon  as  possible  of  any  publications  about  it  and  be  
able  to  react.  If  any  criticism  of  or  allegations  against  the  Group  
should spread widely, crisis communication procedures may also be  
activated with the support of specialist agencies.  
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RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
1.3.2. RISKS RELATED TO OPERATIONAL ACTIVITIES
CYBERATTACKS, SYSTEMS SECURITY, DATA PROTECTION  
Risk description  
A phishing campaign or the exploitation of a security flaw in the technical infrastructures or solutions used by Sopra Steria could result in  
a  breakdown  or  disruption  of  essential  systems  for  activities  contractually  authorised  with  clients  and/or  for  the  Group’s  internal  
operations, or the loss, corruption or disclosure of data. A cyberattack on a client, even if indirectly caused by the provision of services by  
the Group, could also have major repercussions for Sopra Steria.  
This risk inevitably increases in the context of digital transformation (including services hosted in the cloud and mobile technologies).  
Widespread  working  from  home  is  also  a  factor  that  increases  cyberthreats.  Malicious  attacks  on  the  systems  of  businesses  and  
organisations by hackers, criminal organisations or even state-linked organisations have increased exponentially over the last few months  
in terms of the number, frequency and sophistication, and this trend only looks set to be amplified in the future. The Group was the victim  
of  an  unprecedented  cyberattack  in  October  2020.  The  malware  concerned  was  a  new  version  of  the  Ryuk  ransomware,  previously  
unknown to antivirus software providers and security agencies.  
These risks are significant in terms of probability and impact. They are at the heart of Sopra Steria’s strategic concerns: in addition to the  
significant financial consequences of client claims relating to contractual commitments, interruption of internal operations, high recovery  
costs relating to an incident and non-compliance with regulations, a major security incident could have a considerable adverse impact on  
the Group’s reputation and lead to the loss of future contracts.  
Risk management measures  
Sopra Steria  has  established  an  information  security  policy  in  line  
with  international  standards  and  has  put  in  place  a  solid  
organisational  structure  for  this  purpose,  which  is  coordinated  at  
the Group’s highest level.  
assess the resilience of new systems put into service duringthe year.  
The entire system is verified on a regular basis, in particular by way  
of  the  annual  audit  programme  and  the  certification  audits  for  
ISO 27001  and  ISAE 34-02  covering  the  Group’s  strategic  and  
sensitive areas of operations.  
The leadership team involved includes the Chief Information Security  
Officers  (CISOs),  along  with  the  Information  Systems  Department  
(ISD)  and  the  Group’s  security  operations  centre  (SOC),  with  
responsibility  for  detecting  and  responding  to  cybersecurity  
incidents.  This  organisational  structure  with  its  correspondents  
within entities, meeting different countries’ regulatory requirements  
and  client  needs  as  closely  as  possible,  allows  for  in-depth  
knowledge of areas of risk and business demands.  
The  Group  reviews  its  policies  and  procedures,  organisation  and  
investments at least once a year, or as required whenever a security  
incident  occurs,  to  adapt  to  changes  in  the  context  and  risks,  as  
despite everything these remain significant for the Group in view of  
the unprecedented escalation in threats.  
Thanks  to  this  comprehensive  approach,  the  Group  was  able  to  
reduce the potentially extremely critical impact of the massive attack  
detected  in  October  2020.  This  attack  was  rapidly  blocked  by  
in-house  IT  and  cybersecurity  teams.  The  measures  implemented  
immediately  made  it  possible  to  contain  the  malware  to  only  a  
limited  part  of  the  Group’s  infrastructure  and  to  protect  its  
customers and partners. The remediation plan has allowed for the  
gradual  restoration  of  workstations,  RD  and  production  servers,  
internal tools and applications, as well as client connections. In the  
light  of  this  event,  the  Group  has  decided  to  further  step  up  its  
existing plans and launched a reinforcement programme, the two  
main aims of which are to improve its security response and shorten  
the time required to restart IT systems.  
The  Group  is  continually  investing  in  its  security  awareness  and  
training  programme  covering  employees  (e-learning  modules,  
awareness campaigns, videos, on-site and remote training), as well  
as in protection and surveillance tools and to expand the involved  
teams. The Information Systems Department therefore permanently  
enhances  its  procedures  in  terms  of  cybersecurity  monitoring  and  
intelligence,  vulnerability  management,  follow-up  actions  on  
computer  emergency  response  team  (CERT)  reports,  system  
obsolescence  management,  and  the  siloing  and  tightening  of  
systems.  Security  tests  on  deliveries  of  the  Group’s  services  are  
permanently reinforced by means of processes, tools and employee  
training.  
Sopra  Steria  ensures  the  reliability  of  existing  systems  by  way  of  
preventive  testing  plans  and  regularly  conducts  intrusion  tests  to  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
EXTREME EVENTS AND RESPONSE TO MAJOR CRISES  
Risk description  
The Group may be faced with events that could trigger a major crisis for it. This could be a systemic event such as political, economic or  
social crisis profoundly changing business conditions in one or more countries in which the Group operates, a major health crisis, natural  
phenomena relating to climate change, a cyberattack or a major incident making the Group’s physical and/or IT infrastructures widely  
unavailable.  
Major external events could also be the cause of a major crisis for the Group, such as those relating to problems with executing sensitive  
and highly visible projects, a targeted cyberattack, failure to protect personal data and the disclosure of confidential information.  
Failings  in  prevention  plans  and/or  crisis  management  processes  or  an  inappropriate  response  to  the  crisis  could  have  very  major  
repercussions on an economic and operational level and seriously damage the Group’s reputation.  
Risk management measures  
All risk prevention systems help to control crisis management. This  
concerns  in  particular  those  relating  to  human  resources,  
management of projects and services and protection of IT systems  
and infrastructures.  
More specifically, as regards business continuity to ensure our ability  
to  meet  our  commitments  to  clients  and  internal  operating  
requirements, definition of the policy and choice of implementation  
of  the  Group’s  production  sites  depend  on  these  factors.  The  
decision to increase the number of countries and regions in which it  
operates is an integral part of this policy to maintain security and  
reduce  risk  exposure,  allowing  for  the  management  of  emergency  
plans. A redundancy principle is applied for all critical infrastructures  
and  all  system  components,  thanks  to  multi-site  replication  and  
supplier  redundancies.  In  the  event  of  outsourcing  or  
subcontracting,  the  same  level  of  service  is  demanded  of  our  
suppliers. The Group has strict prevention and security procedures  
covering areas such as physical security, power cuts at critical sites,  
information systems security, and data storage and backups. These  
procedures  and  technical  measures  are  re-evaluated  on  a  regular  
basis in order to adapt corrective measures.  
The health crisis and the cyberattack in October 2020 provided the  
opportunity to apply the Group’s crisis management systems. These  
are based on swiftly adapting the Group’s operations, with impetus  
provided at the highest level, in this case the adoption of dedicated  
governance with the aim of defining, coordinating and permanently  
monitoring remediation and crisis communication measures. These  
crisis management systems are also based on permanent interaction  
with entities’ management teams, who are in the front line in each  
country in which the Group operates, in order to react and quickly  
adapt  the  measures  implemented  by  the  Group.  Despite  this,  the  
impact of an extreme event of the same or a different nature, which  
is  by  nature  rapid  and  severe,  remains  a  significant  risk  for  the  
Group on a five-year horizon.  
SALE AND DELIVERY OF PROJECTS AND MANAGED/OPERATED SERVICES  
Risk description  
For fixed-price projects and managed or operated services, poor quality or failure to meet the standards expected of services and defined  
in  contracts  may  give  rise  to  various  risks  for  Sopra Steria,  such  as  contractual  penalties,  client  complaints,  claims  for  damages,  
non-payment, additional costs, early contract termination and reputational risk. These types of projects and services account for two-thirds  
of the Group’s consolidated revenue.  
In the current environment, clients’ demands are becoming increasingly complex due to speed of execution, the agility required and the  
technical  nature  of  solutions,  as  well  as  due  to  strict  regulatory  requirements,  for  example  for  the  financial  sector.  These  demands  
increasingly factor in corporate responsibility, particularly in terms of reducing the environmental impact of information systems developed  
or managed.  
A poor assessment of the scale of the work to be done, an underestimate of the cost of providing the service or an incorrect estimate of  
the technical solutions to be implemented can lead to estimated costs being exceeded or contractual deadlines not being met. This delay  
can,  in  itself,  result  in  late  delivery  penalties  and/or  budget  overruns  (additional  days),  resulting  in  additional  costs  and  potentially  
impacting service margins.  
Risk management measures  
It is critical for the Group to be able to meet client demands and  
deliver consistent quality.  
project  and  line  management,  Industrial  Managers  under  the  
authority of division/subsidiary managers and reporting functionally  
to the Group Industrial Department are responsible for monitoring  
all projects as well as the application of the production rules.  
In  order  to  ensure  the  quality  of  management  and  execution  of  
services,  the  Group  has  developed  a  series  of  methods,  processes  
and  controls.  In  order  to  further  strengthen  these  aspects,  the  
Group developed and released its Delivery Rule Book at the end of  
2019  (a  set  of  30  mandatory  rules  covering  all  phases,  from  
pre-sales to the end of production for services), which continued its  
rollout throughout 2020.  
The review of proposals and contracts by line management, but also  
by  the  Industrial  Department  and  the  Legal  Department,  is  an  
integral  part  of  the  Group’s  controls  implemented  to  fulfil  its  
commitments. In addition, projects are reviewed on a regular basis,  
at key phases in their production life cycle. These reviews, which are  
organised  by  the  Industrial  Department  or  by  its  local  
representatives,  provide  an  external  perspective  on  the  status  and  
organisation of the delivery. Monthly steering meetings facilitate an  
overview  of  quality  at  all  levels,  the  monitoring  of  annual  quality  
targets  established  during  management  reviews  and  the  
determination  of  the  appropriate  action  plans  to  continuously  
The selection of Project Directors and of Project Managers responds  
to  specific  requirements  and  criteria  according  to  the  level  of  risk  
and  project  complexity.  Particular  attention  is  paid  before  any  
appointment  is  made.  Project  managers  receive  specific  training.  
These  courses  are  regularly  updated  to  include  issues  meriting  
special  attention  and  warnings  relating  to  risks.  In  addition  to  
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RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
improve  production  performance  and  the  quality  of  Sopra Steria  
products  and  services.  The  effective  implementation  of  actions  
agreed during steering meetings, audits and reviews is checked by  
the Industrial Department.  
digital  solutions  for  its  clients  designed  to  work  in  the  cloud  
environment:  Digital  Enablement  Platform  (DEP),  implementation  
accelerators  for  new  digital  technologies  (smart  machines,  
AI/machine  learning,  blockchain,  IoT,  etc.),  digital  factories  to  
enable  service  offerings  combining  consulting  and  software  (e.g.  
cloud migration and information system modernisation).  
With regard to industrialisation, the Group has continued to invest  
heavily  in  the  resources  required  to  rapidly  develop  and  operate  
1.3.3. RISKS RELATED TO HUMAN RESOURCES
DEVELOPMENT OF SKILLS AND MANAGERIAL PRACTICES  
Risk description  
Developing the skills of our employees and managers is a key factor in adapting the Group to its business challenges and maintaining  
employability. This also helps to make the Group more resilient and competitive in the face of current and future crises.  
Difficulties  in  offering  training  that  is  both  aligned  with  the  needs  of  our  clients  and  on  a  pragmatic  level  adapted  to  the  necessary  
adjustment  of  our  organisation  and  systems  could  call  into  question  the  Group’s  ability  to  serve  its  strategy  and  economic  targets.  
Managerial practises and methods should also be reviewed in the light of changes in ways of working, whether as a result of digital  
transformation or recent external shocks that have put us to the test.  
Risk management measures  
To  strengthen  its  balance  and  support  its  growth,  Sopra Steria  
implements  a  human  resources  strategy  centred  on  skills  
development, employability and the engagement of all employees.  
This strategy has several pillars:  
a  proactive  training  policy,  whose  objectives  are  reviewed  and  
approved  by  the  Group’s  Executive  Committee,  supported  by  a  
revamped  Sopra Steria  Academy  training  organisation,  with  
adjustments  made  to  its  structure  (governance,  creation  of  
specific  Group  and  business  line  academies)  as  well  as  its  
offerings (more streamlined, focused on the corporate plan and  
the  Group’s  strategic  orientations,  Learning  Management  
System).  In  2020,  1,207,065 hours  of  training  were  delivered  
despite the repercussions of the health crisis (a decrease of 4.6%  
compared with 2019);  
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an  updated  and  digital  Core  Competency  Reference  Guide,  
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providing  a  shared  framework  for  understanding  the  Group’s  
businesses, for employee evaluation, and for career development;  
a performance appraisal based on open communication between  
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managers  and  their  team  members,  shared  with  the  human  
resources  function  and  resulting  in  an  individual  development  
plan;  
during  a  time  of  crisis,  an  unprecedented  effort  to  boost  
employability  and  support  employees,  including  widespread  
working  from  home,  reskilling  of  staff  in  struggling  markets  
(representing  16,700  hours  of  training),  local  support  for  
managers, speeding up the digitisation of training programmes,  
systems  for  listening  to  employees  and  monitoring  risks  of  
work-related stress.  
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a  “people  dynamics”  approach,  which  involves  identifying  
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transformations in the Group’s businesses over a time frame of  
one  to  three  years  (emerging  occupations,  sustainable  jobs,  
sensitive  jobs,  areas  in  which  job  offers  exceed  the  number  of  
applicants)  and  drawing  up  human  resources  action  plans  to  
integrate, maintain and develop the necessary current and future  
skills;  
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RISK FACTORS AND INTERNAL CONTROL  
Risk factors  
ATTRACTING AND RETAINING EMPLOYEES  
Risk description  
Sopra Steria places its employees at the centre of its drive to create value, improve its competitive position and increase market share. Its  
growth objectives must be achieved against the backdrop of fiercer competition, scarcity of expertise and increased demands of applicants  
and  employees  in  terms  of  quality  of  life  at  work,  health  and  safety,  work-life  balance  and  sustainability,  particularly  to  limit  the  
environmental impact of operations. This trend is also supported by the development of digital technology (connectivity, collaborative  
platforms etc.), which transforms uses and frees work from a certain number of constraints, in particular geographical constraints or in  
relation to physical proximity.  
Being unable to optimise recruitment systems and ways of working as necessary could compromise our ability to attract and retain the  
talent  we  need.  Recruitment  difficulties  and/or  a  relatively  high  employee  attrition  rate  (which  was  13.6%  in  2020  as  a  result  of  the  
Covid-19 pandemic, compared with 17.7% in 2019 and 16.9% in 2018) may prevent the Group from delivering on its strategy or meeting  
its targets for growth and financial performance.  
Risk management measures  
Sopra Steria’s  employees  are  the  motor  fuelling  its  growth  and  
value  creation.  Employee  engagement  and  retention  are  two  key  
focuses of the human resources policy. They have been translated  
into the following priorities:  
an  “immediate  boarding”  integration  process  based  on  specific  
training  programmes  (“Get  On  Board”  seminar,  business  line  
training programmes);  
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strengthened  relationships  with  universities  (more  than  600  
events  and  other  initiatives  at  universities  in  2020  despite  the  
public health situation);  
a  sustained  and  pragmatic  recruitment  drive  with  6,133  new  
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hires  in  2020,  a  decline  correlated  with  the  effects  of  the  
Covid-19 pandemic (compared with 10,884 in 2019);  
ever-expanding  civic  engagement  through  iconic  projects  
(HandiTutorat, Prix Étudiants awarded by Fondation Sopra Steria  
– Institut de France, etc.);  
an employer brand (“Dare together”) that conveys the image of a  
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committed  and  united  Group  with  a  singular  and  responsible  
collective ambition;  
an optimised recruitment process and organisation, particularly in  
France;  
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a continually improved applicant experience (interactive platforms  
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for  job  seekers,  new  Careers  site,  videos  on  business  lines,  live  
chat, posts on social media etc.);  
a  special  focus  on  well-being  in  the  workplace  (preventive  
approach to occupational risks) and employee engagement in this  
area  (commitment  to  local  action  plans  following  the  Group  
people survey in partnership with Great Place to Work).  
1.3.4. RISKS RELATED TO REGULATORY REQUIREMENTS
COMPLIANCE WITH REGULATIONS  
Risk description  
The Group is a multinational company that operates in many countries, serving customers with international presences, subject to various  
constantly changing laws and regulations. These may be regulations concerning data protection, anticorruption laws, competition law,  
international sanctions, employment law or employee health and safety obligations, environmental regulations within the framework of  
combating climate change, and even tax reforms.  
The  Group’s  activities  and  operating  profit  might  be  affected  by  significant  changes  in  laws  or  regulations,  or  by  decisions  taken  by  
authorities.  
The Group is also exposed to the risk of breaches of regulations by employees who are not well enough informed or negligence or fraud  
by such employees.  
Risk management measures  
In  order  to  support  the  Group’s  development  and  growth  and  
respond  to  new  regulatory  requirements,  the  Internal  Control  
Department,  which  covers  compliance,  internal  control  and  risk  
management,  is  supported  in  part  by  the  network  of  Compliance  
Officers (who are also responsible for internal control) throughout  
the Group’s various geographical operations, the network of local  
representatives  and  local  teams,  as  well  as  the  expertise  of  
functional divisions depending on their scope, in particular the Legal  
Department,  Human  Resources  and  the  Finance  Department.  
Developments  in  legislation  and  case  law  are  monitored  on  a  
regular  basis  so  as  to  plan  ahead  for  any  upcoming  changes.  
Internal control rules and procedures are updated regularly to reflect  
these developments.  
The code of ethics, the code of conduct and the code of conduct  
for stock market transactions aim to prevent any activity or practices  
that do not comply with requirements (see Chapter 4, Section 5,  
"Ethics and compliance").  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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RISK FACTORS AND INTERNAL CONTROL  
Insurance  
2.
Insurance  
The Group’s insurance policy is closely linked to its risk prevention  
and  management  practices,  in  order  to  ensure  coverage  for  its  
major  risks.  The  Group’s  Legal  Department  is  responsible  for  
managing its insurance programme.  
liability  in  connection  with  their  activities,  due  to  bodily  injury,  
material  or  non-material  damage  caused  to  third  parties.  Overall  
coverage  is  limited  to  €150 million  per  claim  and  per  year  of  
insurance;  
The  aim  of  Sopra Steria  Group’s  insurance  programmes  is  to  
provide  uniform  and  adapted  coverage  of  the  risks  facing  the  
company and its employees for all Group entities at reasonable and  
optimised terms.  
cybersecurityinsurance  
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This programme covers all of the Group’s companies for any direct  
or  indirect  financial  losses,  property  damage  or  loss  of  use,  and  
business interruption losses resulting from a cyberattack;  
The  scope  and  coverage  limits  of  these  various  insurance  
programmes are reassessed annually in light of changes in the size  
of  the  Group,  developments  in  its  business  activities  as  well  as  
changes  in  the  insurance  market  and  based  on  the  results  of  the  
most recent risk mapping exercise.  
property damage and business interruption insurance  
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This  programme  covers  all  of  the  Group’s  sites  for  the  direct  
material  damage  to  property  they  may  suffer  as  well  as  any  
consequential  losses  in  the  event  of  reduced  business  activity  or  
business  interruption  occasioned  by  the  occurrence  of  an  insured  
event. Operating losses are insured on the basis of the loss of gross  
profit.  Overall  policy  coverage  (for  all  types  of  damages  and  
operating losses) is limited to €100 million per claim and per year  
of insurance.  
All Group companies are insured with leading insurance companies  
for  all  major  risks  that  could  have  a  material  impact  on  its  
operations, business results or financial position.  
The  main  insurance  programmes  in  place  within  the  Sopra Steria  
Group are the following:  
In addition, Group programmes have been put in place covering in  
particular:  
premises  and  operations  liability  and  professional  indemnity  
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insurance  
the civil liability of senior executives and company officers;  
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This programme covers all of the Group’s companies for monetary  
consequences  arising  as  a  result  of  their  civil  and  professional  
assistance to employees on assignment, as well as to expatriate  
and seconded employees.  
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RISK FACTORS AND INTERNAL CONTROL  
Internal control and risk management  
3.
Internal control and risk management  
This  section  of  the  report  outlines  Sopra Steria’s  internal  control  
and  risk  management  systems.  These  systems  are  based  on  the  
reference  framework  issued  by  the  AMF.  A  specific  subsection  
addresses the preparation of accounting and financial information.  
3.2. Scope  
The internal control and risk management system applies across the  
entire Group, i.e. the parent company Sopra Steria Group, together  
with all fully consolidated companies.  
The  management  control  system  is  one  of  the  fundamental  
components  of  internal  control  at  Sopra Steria.  It  supports  the  
internal  dissemination  of  information  as  well  as  the  various  
reporting  and  risk  management  procedures,  and  the  
implementation of controls.  
3.3. Components of the internal  
control and risk management  
system  
3.1. Objectives and framework for the  
internal control  
and risk management system  
3.1.1. OBJECTIVES OF THE INTERNAL CONTROL AND
RISK MANAGEMENT SYSTEM
In order to address the identified risks presented in the preceding  
chapter, Sopra Steria has adopted a governance approach as well  
as a set of rules, policies and procedures together constituting its  
internal control and risk management system.  
3.3.1. ENVIRONMENT
Sopra Steria Group’s internal control and risk management system  
is  founded  upon  the  Group’s  four-tier  operational  organisation  as  
well  as  its  centralised  functional  organisation.  Each  tier  of  the  
operational organisation is directly involved in the implementation  
of internal control and risk management practices. To this end, the  
Group has put in place a set of operating principles and rules, along  
with the appropriate delegations of authority. It is the responsibility  
of  all  Group  employees  to  familiarise  themselves  with  these  rules  
and  to  apply  them.  For  more  information  on  the  Group’s  
organisation,  see  Section 9  (Group  organisation)  in  Chapter 1,  
“Business  overview  and  strategies”  of  this  Universal  Registration  
Document, pages 32 to 33.  
In  accordance  with  the  AMF  reference  framework,  the  internal  
control  and  risk  management  system,  which  is  under  the  
responsibility of the Group’s Chief Executive Officer, is designed to  
provide  reasonable  assurance  regarding  the  achievement  of  
objectives in the following categories:  
3.3.2. A SHARED MANAGEMENT CONTROL SYSTEM
The  management  control  system  is  designed  not  only  to  manage  
the  dissemination  of  information,  upwards  to  Executive  
Management  and  downwards  to  the  operational  and  functional  
units,  but  also  to  guide,  control  and  support  the  Group’s  
employees,  identify  risks  and  monitor  the  associated  mitigation  
plans.  It  involves  steering  meetings  held  at  each  of  the  different  
organisational levels, including the Group’s Executive Committee.  
compliance with laws and regulations;  
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implementation of instructions, guidelines and rules set forth by  
Executive Management;  
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proper  functioning  of  the  Company’s  internal  processes,  
particularly those intended to safeguard its assets;  
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quality and reliability of financial and accounting information.  
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These  meetings  are  governed  by  specific  standards  (reporting  
timetable, participants, agenda, documents to be presented at the  
beginning  and  end  of  the  meeting)  and  are  supported  by  the  
management  reporting  system.  Meetings  are  held  according  to  a  
calendar,  dependent  on  the  organisational  level  and  timeframe  
objectives:  
The  risk  management  system  is  designed  to  identify,  analyse  and  
manage the Company’s main risks.  
More generally, the Group’s internal control and risk management  
system  contributes  to  the  control  of  its  business  activities,  the  
effectiveness of its operations and the efficient use of its resources.  
This  system  is  updated  on  a  regular  basis,  in  application  of  a  
continuous improvement process, in order to best measure the level  
of risk to which the Group is exposed as well as the effectiveness of  
the action plans put in place to mitigate risks.  
weekly  meetings  for  the  current  month:  Priority  is  given  to  the  
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monitoring of sales, production and human resources;  
monthly meetings for the current year: In addition to the topics  
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discussed at the weekly meetings, additional emphasis is placed  
on  financial  indicators  (entity  performance  for  the  previous  
month,  update  of  annual  forecasts,  actual  vs.  budget,  progress  
report on actions in line with the medium-term strategy);  
Nevertheless,  the  internal  control  and  risk  management  system  
cannot  provide  an  absolute  guarantee  that  the  Company’s  
objectives will be achieved and that all risks will be eliminated.  
annual meetings, looking ahead several years: The medium-term  
strategy  and  the  annual  budget  process  for  the  entities  are  
discussed in the context of the Group’s overall strategic plan.  
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3.1.2. REFERENCE FRAMEWORK AND REGULATORY
CONTEXT
The  Sopra Steria  Group  refers  and  adheres  to  the  reference  
framework issued by the Autorité des Marchés Financiers (AMF, the  
French securities regulator).  
The implementation of this system at all operational and functional  
entities is a highly effective vehicle for cohesiveness, the sharing of  
values and practices throughout the Group, and control.  
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RISK FACTORS AND INTERNAL CONTROL  
Internal control and risk management  
through  the  formal  documentation  of  procedures,  always  with  a  
focus on the continuous improvement of internal control and so as  
to better manage the risks identified in the course of the Group’s  
risk  mapping  exercises.  The  rules  and  procedures  cover  10  areas  
corresponding to Group processes: governance and steering, trade,  
production,  human  resources,  internal  and  accounting  
management,  information  system  and  infrastructures,  purchasing,  
communications and marketing, legal and insurance, and corporate  
responsibility.  These  Group  rules  and  procedures  are  then  further  
detailed to take into account local regulatory constraints across all  
of the Group’s geographical operations.  
3.3.3. TOOLS
The  Group’s  management  applications  and  office  automation  
software are designed to standardise the documents produced by  
the Group. The production tools used or developed by the Group  
allow for the industrialisation of project delivery and of managed or  
operated  services  by  improving  the  quality  of  deliverables.  They  
incorporate  the  processes  that  make  up  the  Group’s  production  
methodology.  
3.3.4. A SHARED FRAMEWORK FOR GROUP RULES
a. Code of Ethics, anti-corruption Code of conduct and  
code of conduct for stock market transactions  
These  rules  and  procedures  are  available  on  the  Group’s  intranet.  
They  are  reinforced  through  the  Group’s  various  training  and  
communications initiatives.  
The aims of the Group’s Code of Ethics, which is based on its core  
values,  are  to  ensure  compliance  with  international  treaties,  laws  
and regulations in force in all countries where it operates, and to  
reaffirm  the  Group’s  ethical  principles.  This  Code  of  Ethics  is  
supplemented by a code of conduct for stock market transactions  
whose  main  aim  is  to  reiterate  and  clarify  the  rules  regarding  
sensitive information, insider information and the management of  
securities.  Furthermore,  the  anti-corruption  code  of  conduct  sets  
out the rules and behaviours to be adopted to prevent corruption  
and  influence  peddling.  For  more  details  on  the  anti-corruption  
code  of  conduct,  see  Section 5  "Ethics  and  compliance"  in  
Chapter 4, Corporate responsibility” of this Universal Registration  
Document, pages 132 to 136.  
On the production front, Sopra Steria’s Quality System defines all  
the  production,  management  and  quality  assurance  processes  
required  to  successfully  manage  projects.  The  primary  goal  is  to  
contribute effectively to the delivery of high quality IT systems that  
meet clients’ needs in line with time and budget constraints. This  
methodology defines project management practices and processes  
suited  to  various  environments  and  at  different  levels  of  
management  and  supervision,  as  well  as  software  engineering  
practices and processes. The basic principles of the Quality System  
are  described  in  a  Quality  Manual  supplemented  by  procedural  
guides  and  operating  manuals.  UK,  Scandinavia  and  CIMPA  apply  
mechanisms that are similar but rely on specific methods geared to  
the  primary  characteristics  of  their  activities.  In  order  to  further  
strengthen  these  aspects,  the  Group  continued  in  2020  with  the  
rollout  of  its  Delivery  Rule  Book  at  all  entities.  This  is  a  set  of  30  
essential  and  mandatory  rules  covering  the  production  cycle  from  
end to end, from pre-sales to the end of service production.  
b. Group rules, policies and procedures  
A  framework  of  rules  including  Group  internal  control  rules  and  
delegations  of  authority  (decision-making  levels)  is  in  force  across  
the Group to provide a common foundation for all processes. These  
rules  apply  to  all  employees  and  all  entities  as  soon  as  possible  
when integrating acquisitions.  
The  Group’s  rules  and  procedures  are  regularly  updated  and  
supplemented to best reflect the Group’s organisation and manage  
the identified risks.  
These general rules are adapted to the Group’s various entities, and  
continue  to  be  supplemented  when  necessary  at  Group  level  
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RISK FACTORS AND INTERNAL CONTROL  
Internal control and risk management  
3.4. Participants in internal control and risk management  
Everyone in the Group has a part to play in risk management and internal control, from the governance bodies and senior management to  
the employees of each Group company.  
INTERNAL CONTROL AND RISK MANAGEMENT SYSTEM STAKEHOLDERS
Board of Directors / Audit Committee
Executive Management
2ND LINE OF CONTROL
1ST LINE OF CONTROL
3RD LINE OF CONTROL
Departments
Finance
Operational Management
Internal Audit
External Audit
Industrial
All entities
Human Resources
Legal
All geographies
All activities
Sustainable Development
and Corporate Responsibility
Internal Control
The Audit Committee also monitors the activity of the Internal Audit  
Department through the following actions:  
EXECUTIVE MANAGEMENT
The internal control and risk management system is approved and  
overseen  by  Executive  Management,  thus  at  the  Group’s  highest  
level. As the top level of authority and responsibility for the internal  
control  and  risk  management  system,  it  monitors  the  system’s  
continuing  effectiveness  and  takes  any  action  required  to  remedy  
identified shortcomings and remain within acceptable risk tolerance  
thresholds.  Executive  Management  ensures  that  all  appropriate  
information  is  communicated  in  a  timely  manner  to  the  Board  of  
Directors and to the Audit Committee.  
approval of the annual internal audit plan;  
p
meeting  with  its  Director  once  a  year  in  the  presence  of  the  
p
Statutory Auditors, but without the presence of management;  
biannual review of the results of internal audit assignments and  
p
follow-up on the implementation of action plans resulting from  
recommendations.  
Three lines of control  
In  accordance  with  the  AMF  reference  framework,  the  internal  
control  and  risk  management  system  put  in  place  by  the  
Sopra Steria  Group  is  structured  around  three  lines  of  control,  as  
presented below.  
AUDIT COMMITTEE OF THE BOARD OF DIRECTORS
The  Group’s  Audit  Committee  examines  the  main  features  of  the  
internal  control  and  risk  management  procedures  selected  and  
implemented by Executive Management to manage risks, including  
the  organisation,  roles  and  functions  of  the  key  actors,  the  
approach,  structure  for  reporting  risks  and  monitoring  the  
effectiveness  of  control  systems.  It  has  access  to  the  elements  
necessary  to  reach  an  overall  understanding  of  the  procedures  
relating  to  the  preparation  and  processing  of  accounting  and  
financial information (presented in the following chapter).  
First  line  of  control:  Front-line  staff  and  operational  
management  
p
The first line of control for the internal control and risk management  
system consists of:  
operational  management,  tasked  with  implementing  the  
system  defined  at  Group  level  for  the  area  under  its  
responsibility. This line of control makes sure that the internal  
control rules and procedures are effectively implemented, fully  
understood  and  consistently  applied  within  its  scope  of  
operations,  
Each year, the Audit Committee reviews the results of the Group’s  
risk mapping exercise and holds regular meetings with the Internal  
Control Department to monitor the implementation and adaptation  
of the Group’s rules and the internal control process.  
the Group’s employees, who take due note of and apply all of  
the rules set out within the organisation.  
46  
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RISK FACTORS AND INTERNAL CONTROL  
Internal control and risk management  
Second  line  of  control:  Risk  management  and  internal  
control  
as  well  as  analysing  any  commercial  concessions  applicable  and  
verifying  their  treatment  in  the  operating  accounts  of  the  
operational unit. They also ensure that the costs for the operational  
unit are completely and accurately recognised.  
p
The  aim  of  the  second  line  of  control  is  to  monitor  the  internal  
control  and  risk  management  system  on  an  ongoing  and  
continuous basis to verify its effectiveness and coherence as well as  
the proper application of its rules and procedures.  
Financial Controllers devote particular attention to unbilled revenue  
and contractual milestone payments, and check that invoices issued  
are paid. In coordination with the manager at the relevant entity,  
they  trigger  payment  collection,  which  is  managed  directly  by  the  
Finance Department. They check any credit notes issued.  
Internal  Control  Department  and  Compliance  Officers  at  the  
entities  
The  internal  control  and  risk  management  system  is  steered  and  
coordinated by the Internal Control Department at Group level. As  
the  coordinator  of  the  system,  and  with  regard  to  the  risks  that  
have been identified and assessed, the Internal Control Department  
defines  and  updates  the  system’s  various  components.  In  carrying  
out these duties, the Internal Control Department works closely with  
the Group’s functional and operational departments.  
Financial  Controllers  assess  the  organisation  and  administrative  
functions of operational units. They monitor compliance with rules  
and deadlines.  
Industrial Department (Management of the Quality System)  
Quality management relies upon the day-to-day interaction between  
the operational and quality structures and covers the methods for  
the production and application of professional standards.  
The Group has a network of Compliance Officers, appointed in each  
of  the  Group’s  entities  and  across  all  its  geographical  operations.  
These  Compliance  Officers  are  responsible  for  adapting  the  
guidelines and rules defined at Group level. In particular, they are  
tasked with making sure that all components of the internal control  
and  risk  management  system  as  well  as  those  of  the  Group’s  
compliance  programme  are  effectively  implemented,  fully  
understood and consistently applied. They are also responsible for  
raising  alerts  in  the  event  of  difficulties  encountered  in  the  
implementation of any of these components for their scope.  
Sopra Steria’s  quality  structure  is  independent  of  the  project  
management  and  delivery  operations.  As  such,  it  offers  external  
quality  assurance  for  projects  with  the  objectives  of  assuring  
production  and  cost  controlling,  overseeing  associated  human  
resources,  verifying  production  conformity  and  compliance  with  
quality assurance procedures, and monitoring the quality assurance  
plan’s effectiveness.  
Industrial managers under the authority of business unit/subsidiary  
managers  and  reporting  functionally  to  the  Group  Industrial  
Department are responsible for monitoring the Quality System and  
all projects.  
Functional departments  
The functional departments are key participants in the coordination  
of the internal control and risk management system. They assist the  
Internal Control Department in updating procedures specific to the  
processes under their responsibility.  
Structural audits are performed so as to verify the application and  
effectiveness  of  the  Quality  System  among  the  concerned  Sopra  
Steria staff members (management, sales, operational quality unit).  
Projects are reviewed on a regular basis, at key phases in their life  
cycle.  These  reviews,  which  are  organised  by  the  Industrial  
Department,  or  by  the  quality  structure’s  local  representatives,  
provide  an  external  perspective  on  the  status  and  organisation  of  
projects.  
Alongside the self-assessment and control procedures implemented  
by operational managers at every level, functional departments play  
a  special  role  in  the  application  of  the  rules  for  delegations  of  
authority in force within the Group. They support operational staff  
in the area of risk management and, from a preventive standpoint,  
they  may  serve  in  an  advisory  capacity  or  perform  ex-ante  or  
detective controls on the application of rules.  
Monthly  steering  meetings  facilitate  an  overview  of  quality  at  all  
levels, the monitoring of annual quality targets established during  
management  reviews  and  the  determination  of  the  appropriate  
action plans to continuously improve production performance and  
the quality of Sopra Steria products and services.  
The Finance Department is entrusted with specific responsibilities in  
the  context  of  financial  controls  and  the  Industrial  Department  is  
responsible for control procedures relating to the management of  
its Quality System.  
The  effective  implementation  of  actions  agreed  during  steering  
meetings,  audits  and  reviews  is  checked  by  the  Industrial  
Department.  
Finance Department  
Financial  Controlling  falls  under  the  responsibility  of  the  Finance  
Department. Its main responsibilities include the consolidation and  
analysis  of  monthly  results  produced  by  the  internal  management  
system,  controlling  the  consistency  of  monthly  forecasts,  verifying  
the  application  of  Group  rules,  assisting  operational  managers,  
training  management  system  users,  and  performing  the  
reconciliation between the internal management accounts and the  
general ledgers.  
An annual review is performed by Executive Management to ensure  
that the Quality System remains pertinent, adequate and effective.  
This review is based in particular upon an analysis of project reviews  
and internal structural audits performed at all levels of the Groupas  
well  as  upon  annual  assessments  produced  by  divisions  or  
subsidiaries. During this review, the adequacy of the quality policy is  
evaluated,  the  annual  quality  objectives  are  defined  and  possible  
improvements and changes in the Quality System are considered.  
As part of their control responsibilities, Financial Controllers identify  
and  measure  risks  specific  to  each  operational  unit.  In  particular,  
they ensure that contractual commitments and project production  
are  aligned  with  the  revenue  recognised.  They  raise  alerts  for  
projects that present technical, commercial or legal difficulties. They  
check that revenue is recognised in line with Group accounting rules  
The Group has put in place a certification policy, covering all or a  
portion  of  its  operations,  depending  on  market  expectations.  This  
policy relates to the following standards or frameworks: ISO 9001,  
TickIT Plus, ISO 27001, ISO 22301, ISO 14001, ISO 20000, CMMI  
and TMMi.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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Internal control and risk management  
Third line of control: Internal audit function  
Statutory Auditors  
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Internal Audit Department  
As  part  of  their  engagement,  the  Statutory  Auditors  obtain  
information  on  the  internal  control  system  and  the  procedures  in  
place. They attend all Audit Committee meetings.  
Under the internal audit charter adopted by the Group, the Internal  
Audit Department has the following tasks:  
The Statutory Auditors are engaged throughout the year across the  
Group.  Their  involvement  is  not  limited  to  interactions  with  the  
accounting department. To gain a more in-depth understanding of  
how operations and transactions are recorded in the accounts, the  
Statutory  Auditors  are  in  regular  contact  with  operational  
managers, who are best placed to explain the Company’s business  
activity. These meetings with operational staff are structured around  
business  unit,  division  or  subsidiary  reviews,  during  which  the  
Statutory  Auditors  examine  the  main  ongoing  projects,  progress  
made  and  any  difficulties  encountered  by  the  business  unit  or  
subsidiary.  
independent,  objective  evaluation  of  the  effectiveness  of  the  
internal control system via a periodic audit of entities;  
p
formulation  of  all  recommendations  to  improve  the  Group’s  
operations;  
p
monitoring the implementation of recommendations.  
p
The work of the Internal Audit Department is organised with a view  
to  covering  the  “audit  universe”  (classification  of  key  processes)  
reviewed annually by the Audit Committee.  
Internal Audit covers the entire Group over a cycle of a maximum of  
four years. Audits are performed more frequently for the main risks  
identified. To this end, Internal Audit carries out field audits while  
using self-assessment questionnaires for areas of lesser importance.  
Quality certification inspectors  
The audit procedure aims to ensure that the Quality System is both  
in  compliance  with  international  standards  and  is  applied  to  the  
entire certified scope of operations.  
By  carrying  out  work  relating  specifically  to  fraud  and  corruption,  
the  Internal  Audit  Department  has  identified  processes  that  are  
potentially  concerned,  associated  risks,  control  procedures  to  be  
adopted  (prevention  and  detection)  and  audit  tests  to  be  carried  
out.  These  are  systematically  integrated  into  internal  audit  
programmes.  
Each  year,  quality  certification  inspectors  select  the  sites  visited  
depending  upon  an  audit  cycle  and  relevance  of  the  activity  in  
relation to the certification.  
Internal  Audit,  which  reports  to  the  Chairman  of  the  Board  of  
Directors  and  operates  under  the  direct  authority  of  Executive  
Management,  is  responsible  for  internal  control  and  monitors  the  
system  in  place.  It  submits  its  findings  to  Executive  Management  
and the Audit Committee.  
3.5. Assessment and continuous  
improvement process  
The purpose of this audit process is to identify ways in which the  
quality management system might be improved in order to ensure  
continuous improvement.  
The  Chairman  of  the  Board  of  Directors  validates  the  audit  plan,  
shared  with  Executive  Management,  notably  on  the  basis  of  risk  
information  obtained  using  the  risk  mapping  procedure,  the  
priorities  adopted  for  the  year  and  the  coverage  of  the  “audit  
universe”. This plan is presented to the Audit Committee for review  
and feedback. Recommendations are monitored and compiled in a  
report  provided  to  Executive  Management  and  the  Audit  
Committee.  
The internal control system and its operation are subject to internal  
and external assessments to identify areas for improvement. These  
may  lead  to  implementation  of  action  plans  to  strengthen  the  
internal  control  system,  under  the  oversight  of  the  Group’s  Audit  
Committee.  
The  Internal  Audit  Department  carried  out  21  assignments  in  
financial year 2020.  
External monitoring system  
Furthermore,  the  internal  control  and  risk  management  system  is  
also  monitored  by  the  Statutory  Auditors  and  the  quality  
certification inspectors for the Quality System.  
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Procedures relating to the preparation and processing of accounting and financial information  
4.
Procedures relating to the preparation and  
processing of accounting and financial information  
Accounting policies and presentation  
4.1. Coordination of the accounting  
and financial function  
4.1.1. ORGANISATION OF THE ACCOUNTING
AND FINANCIAL FUNCTION
The accounting policies applied within the Group are presented in  
the notes to the consolidated financial statements in this document.  
At each balance sheet date, the Audit Committee ensures that these  
policies  and  presentation  have  been  applied  by  the  Finance  
Department and the Statutory Auditors.  
The  proper  use  of  the  percentage-of-completion  method  to  value  
ongoing projects is monitored on a permanent basis jointly by the  
Industrial  Department  and  by  the  Finance  Department  (Financial  
Controllers).  
Limited number of accounting entities  
By keeping the number of legal entities, and therefore accounting  
entities, relatively low, the Group can drive reductions in operating  
costs and minimise risks.  
Centralised coordination of the accounting  
and financial function  
4.2. Preparation of the published  
accounting and financial  
information  
The activities of Sopra Steria’s accounting and financial function are  
overseen by the Group’s Finance Department, which reports directly  
to Executive Management.  
4.2.1. RECONCILIATION WITH THE INTERNAL
MANAGEMENT SYSTEM ACCOUNTING DATA
The  responsibilities  of  the  Finance  Department  mainly  include  the  
production  of  the  accounts,  financial  controlling,  tax  issues,  
financing  and  cash  management,  and  participation  in  financial  
communications and legal matters.  
All Group entities prepare a monthly budget, a monthly operating  
statement and revised monthly forecasts.  
Each subsidiary has its own financial team that reports functionally  
to the Group’s Finance Department.  
The budget process, which is short in duration, takes place in the  
last  quarter  of  the  year.  This  is  a  key  stage.  It  provides  an  
opportunity to apply the strategy approved by the Group’s Executive  
Committee, to adapt the organisation to developments in business  
segments  and  market  demand,  and  to  assign  quantitative  and  
qualitative  objectives  to  all  Group  entities.  Budgets,  including  
detailed monthly operating forecasts, are prepared by each unit at  
this event.  
Supervision of the accounting and finance function  
by Executive Management and the Board of Directors  
The  Finance  Department  reports  to  the  Group’s  Executive  
Management. As with all other entities, it follows the management  
reporting and controlling cycle described above: weekly meetings to  
address current business activities, monthly meetings devoted to a  
detailed  examination  of  figures  (actual  and  forecast),  the  
organisation  of  the  function  and  the  monitoring  of  large-scale  
projects.  
Each Group entity prepares a monthly operating statement closed  
on  the  third  working  day  of  the  following  month.  Management  
indicators  (utilisation  rate,  selling  prices,  average  salary,  indicators  
relating  to  human  resources,  invoicing  and  receipts,  etc.)  are  also  
reviewed on a monthly basis.  
Executive Management is involved in the planning and supervision  
process as well as in preparing the period close.  
Finally, a revised operating statement prepared each month includes  
the  results  of  the  previous  month  and  a  revised  forecast  for  the  
remaining months of the current year.  
The Board of Directors is responsible for the oversight of accounting  
and  financial  information.  It  approves  the  annual  accounts  and  
reviews  the  interim  accounts.  It  is  supported  by  the  Audit  
Committee, as described in Section 1.3.3 of Chapter 3, “Corporate  
governance”  of  this  Universal  Registration  Document,  pages 78  
to 79.  
Sales metrics (prospects, contracts in progress, signings, etc.), client  
invoicing  and  cash  receipts  are  analysed  at  the  management  
meetings  organised  by  the  management  control  system  described  
above.  
The  results  derived  from  the  monthly  management  reporting  
documents  are  verified  by  Financial  Controllers  reporting  to  the  
Finance Department, who also reconcile this data with the quarterly  
accounting results in the general ledgers.  
4.1.2. ORGANISATION OF THE ACCOUNTING
INFORMATION SYSTEM
Accounting  
The configuration and maintenance of the accounting and financial  
information  system  are  centralised  at  Group  level.  Central  teams  
manage access permissions, and update them at least once a year.  
The granting of these permissions is validated by Finance teams at  
the subsidiaries.  
4.2.2. PROCEDURES FOR THE PREPARATION OF THE
CONSOLIDATED FINANCIAL STATEMENTS
Each  company  establishes  quarterly  financial  statements  and  
prepares a consolidation pack.  
For each of the companies falling within the scope of the audit of  
consolidated  financial  statements,  the  Statutory  Auditors  examine  
the  interim  and  annual  consolidation  packs.  Once  approved,  they  
are  used  by  the  Group  Finance  Department  and  the  consolidated  
financial  statements  are  examined  by  the  Group’s  Statutory  
Auditors.  
All  Group  companies  prepare,  at  a  minimum,  complete  quarterly  
financial  statements  on  which  the  Group  bases  its  published  
quarterly revenue figures and interim financial statements.  
Monthly cash flow forecasts for the entire year are prepared forall  
companies and consolidated at Group level.  
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Procedures relating to the preparation and processing of accounting and financial information  
4.2.3. PROCEDURE FOR SIGNING OFF THE FINANCIAL
STATEMENTS
4.2.4. FINANCIAL COMMUNICATIONS
The  Financial  Communications  and  Investor  Relations  Department,  
which  is  supervised  by  the  Chairman  of  the  Board  of  Directors,  
manages the Group’s financial communications.  
The  interim  and  annual  consolidated  financial  statements  are  
presented to Executive Management by the Finance Department.  
The Group communicates financial information via several different  
means, notably:  
As  part  of  their  annual  accounts  close-out  at  31 December,  the  
financial  statements  of  Sopra Steria  Group  and  its  subsidiaries  
undergo  a  legal  audit  by  the  Statutory  Auditors  in  order  to  be  
certified. A limited review is also performed on 30 June.  
press releases;  
p
the Universal Registration Document and the various reports and  
p
As  part  of  its  assignment  to  monitor  the  legal  control  of  the  
financial  statements,  the  Audit  Committee  takes  note  of  the  
Statutory Auditors’ work and conclusions during the review of the  
interim and annual financial statements.  
disclosures that it contains;  
the presentation of the interim and annual financial statements.  
p
The  Group’s  website  has  a  dedicated  “Investors”  section  that  
presents all of the aforementioned items as well as other regulatory  
or informative items.  
The Audit Committee examines the financial statements, notably in  
order  to  review  the  Company’s  exposure  to  risks,  verify  that  the  
procedures for gathering and controlling information guarantee its  
reliability,  and  ensure  that  accounting  policies  have  been  applied  
consistently  and  appropriately.  It  gathers  comments  from  the  
Statutory Auditors.  
The Group’s financial statements are then presented to the Board of  
Directors for approval.  
50  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
3. Corporate governance  
Organisation and operation of governance
Executive company officers  
52
52  
54  
74  
1.  
1.1.
1.2.
1.3.
Board of Directors  
Preparation and organisation of the work of the Board of Directors  
Compensation policy
Policy outline  
81
81  
2.  
2.1.
2.2.
Executive company officers  
2.3. Board of Directors  
82  
84  
Standardised presentation of compensation paid to company officers
85
85  
91  
3.  
3.1.
AFEP-MEDEF Code tables  
Fairness ratios  
3.2.
3.3.
Result of the shareholder consultation on compensation paid to executive  
company officers (General Meeting of 9 June 2020)  
95  
Departures from the guidelines set forth in the AFEP-MEDEF Code
96
4.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
51
3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
This chapter describes the organisation and operation of governance as well as the compensation policy for company officers and its application  
during financial year 2020. It contains explanations concerning the recommendations of the AFEP-MEDEF Code (1)that were, by exception, set  
aside or only partially implemented in 2020.  
1.
Organisation and operation of governance  
1.1.3. OVERVIEW OF THE ACTIVITIES
1.1. Executive company officers  
OF THE CHAIRMAN OF THE BOARD
OF DIRECTORS IN 2020
On 19 June 2012, Sopra’s Board of Directors decided to separate  
the roles of Chairman and Chief Executive Officer. It confirmed this  
decision  at  the  meeting  it  held  after  the  General  Meeting  of  
12 June 2018, stating the view that this separation of roles remains  
the  best  way  of  addressing  the  Group’s  strategic  and  operational  
priorities. Given the close relationship between the Chairman of the  
Board  of  Directors  and  the  Chief  Executive  Officer,  there  is  close  
collaboration and an ongoing dialogue between them.  
The Chairman of the Board of Directors carried out activities on a  
full-time basis throughout the year, involving not only steering the  
work of the Board, but also complementary assignments entrusted  
to him by the governance.  
This scope comprises the governance of strategy, acquisitions and  
the  Board  of  Director’s  shareholder  relations  as  well  as  the  
supervision of matters listed early in the year in coordination with  
the  Chief  Executive  Officer.  These  matters  all  relate  to  long-term  
preparations  required  in  particular  by  the  Group’s  transformation  
(transformation  of  HR,  digital,  industrial,  main  principles  for  the  
organisation  and  functioning  of  the  Group,  employee  share  
ownership, promotion of values and compliance).  
1.1.1. ROLE OF THE EXECUTIVE COMPANY OFFICERS
The  Chairman  is  tasked  with  managing  strategy,  while  the  Chief  
Executive Officer is responsible for operations.  
The Chairman:  
guides the implementation of the Group’s strategy and all related  
matters, including mergers and acquisitions;  
The  Chairman  is  responsible  for  maintaining  balance  between  
stakeholders  (in  particular  shareholders,  employees  and  local  
authorities) after taking into account the social and environmental  
implications of the Group’s business activities.  
p
assists  Executive  Management  with  the  transformation  of  the  
Group;  
p
In crisis situations, such as those experienced in 2020 (public health  
crisis, cyberattack), the ability to rank priorities, uphold the Group’s  
values, and consider its options from a long-term perspective thanks  
to the commitment provided by the core shareholder is absolutely  
critical.  
oversees  investor  relations  and  manages  the  Board’s  relations  
with shareholders.  
p
The Chief Executive Officer:  
works with the Chairman to formulate strategy;  
p
supervises the implementation of decisions adopted;  
p
The  various  matters  placed  under  the  Chairman’s  responsibility  
require a perfect knowledge of operational realities and thus close  
relations  with  the  Chief  Executive  Officer  and  the  Executive  
Committee.  This  close  relationship  fosters  information  flows  
between  them.  It  facilitates  effective  coordination  on  decisions  
required  for  the  delivery  of  the  medium-term  strategic  plan  and  
follow-up over the long term on implementation of these decisions,  
although operational imperatives may be given a higher priority.  
ensures the operational management of all Group entities.  
p
It  should  be  noted  that  Vincent  Paris   appointed  Chief  Executive  
Officer  on  17 March  2015   does  not  hold  any  company  officer  
positions outside the Group.  
1.1.2. SUCCESSION PLAN FOR EXECUTIVE COMPANY
OFFICERS
The separation of the roles of Chairman and Chief Executive Officer  
is based on the definition of duties and responsibilities set out in the  
Board  of  Directors’  internal  rules,  observance  of  the  respective  
prerogatives  of  the  Chairman  and  Chief  Executive  Officer,  a  
relationship  founded  on  trust  built  up  over  time,  and  a  natural  
complementarity between these office holders. In sum, the current  
framework  contributes  to  fluid  and  flexible  governance  
arrangements.  It  means  the  Group  is  able  to  act  as  quickly  as  
needed  and  ensures  decisions  are  taken  with  due  care,  without  
losing  sight  of  Sopra Steria  Group’s  medium-  and  long-term  
strategic priorities.  
In  2020,  the  Nomination,  Governance,  Ethics  and  Corporate  
Responsibility Committee reviewed and updated the succession plan  
for the Chairman of the Board of Directors and the Chief Executive  
Officer.  
(1) The AFEP-MEDEF Code is the code to which the Company refers pursuant to Article L. 22-10-10 of the French Commercial Code. It is available on the website of France’s Haut  
Comité de Gouvernement d’Entreprise (www.hcge.fr).  
52  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
year  and  reflects  the  respective  needs  of  Sopra Steria  Group  and  
Axway Software.  
1.1.4. AGREEMENT WITH SOPRA GMT, THE HOLDING
COMPANY THAT MANAGES AND CONTROLS
SOPRA STERIA GROUP
The income and expenses recorded in Sopra Steria Group’s financial  
statements  in  respect  of  services  provided  under  this  agreement  
during the financial year under review were as follows:  
In  carrying  out  all  of  these  assignments,  the  Chairman  drew  on  
resources across the Group but was also supported by a permanent  
team of five individuals at the Sopra GMT holding company. Four of  
them have spent most of their careers with Sopra Steria Group. This  
team therefore has knowledge of the Group, its main managers and  
its  organisational  structure  that  an  external  service  provider  could  
not  have.  Its  positioning  within  Sopra  GMT  gives  it  an  external  
viewpoint  and  independence  that  belonging  to  a  functional  or  
operational  department  of  the  company  would  not  be  able  to  
ensure  in  the  same  way.  These  resources  enhance  the  Board  of  
Directors’ ability to oversee the smooth running of the Company.  
expenses: €1.214 million;  
p
income: €0.139 million.  
p
The  Board  of  Directors  reviewed  the  implementation  of  this  
agreement  at  its  meeting  of  28 January  2021  and  unanimously  
agreed  to  maintain  the  previously  granted  authorisation  for  the  
current financial year; those Directors directly or indirectly affected  
did not take part in either the discussion or the vote.  
1.1.5. EXECUTIVE MANAGEMENT
The  team,  put  in  place  when  Axway  Software  was  spun  off,  
performs  duties  for  Sopra Steria  Group  and  Axway  Software,  in  
which Sopra Steria Group holds a 32.4% stake. Above and beyond  
the support provided separately to each of these companies, Sopra  
GMT  makes  sure  that  synergies  are  harnessed  and,  that  best  
practices are shared.  
The  Chief  Executive  Officer  is  supported  by  two  Deputy  Chief  
Executive Officers and a Chief Operating Officer.  
In accordance with the Articles of Association and the internal rules  
and regulations of the Board of Directors, the Chief Executive Officer  
has  authority  over  the  entire  Group.  He  directs,  administers  and  
coordinates all of its activities.  
Sopra  GMT’s  staff  work  on  specific  assignments  (management  of  
acquisitions,  board  secretarial  tasks  for  Sopra Steria  Group  and  
Axway Software and their committees) and provide assistance to the  
functional  division  managers  of  Sopra Steria  Group  and  Axway  
Software.  Sopra  GMT’s  employees  play  an  active  role  on  steering  
committees  (for  example,  the  Acquisition  committee,  Corporate  
responsibility  consultative  committee,  Internal  control   internal  
audit steering committee) and work groups (for example as part of  
a work group on the IT system) and on key issues for Sopra Steria  
Group. They provide the benefit of their technical expertise and an  
independent opinion.  
The Chief Executive Officer is vested with the broadest powers to act  
in all circumstances on behalf of the Company. He represents the  
Company in its dealings with third parties.  
He  is  supported  more  broadly  by  the  Executive  Committee,  the  
Operations Committee and the Management Committee in running  
the  Group  of  which  Sopra Steria  Group  is  the  parent  company.  
These Committees ensure that Executive Management is supported  
by the Group’s key operational and functional managers.  
Certain  decisions  relating  to  strategy  implementation  and  internal  
organisation may require prior approval by the Board of Directors or  
its Chairman. Decisions that are highly strategic in nature or that  
are  likely  to  have  a  significant  impact  on  the  financial  position  or  
commitments of the Company or any of its subsidiaries” are defined  
in the internal rules and regulations of the Board of Directors. See  
the “Additional information” Chapter 8 of this Universal Registration  
Document (page 282).  
The costs rebilled by Sopra GMT comprise the portion of payroll and  
related personnel costs allocated to the assignments performed for  
Sopra Steria  Group,  plus,  where  applicable,  under  the  same  
conditions, the external expenses (such as specialised advisors’ fees)  
incurred by Sopra GMT.  
Sopra Steria Group charges Sopra GMT fees for providing premises,  
IT resources, and assistance from the Group’s functional divisions as  
well  as  provision  of  appropriate  expertise  for  Sopra  GMT’s  
assignments.  
1.1.6. AGREEMENT WITH ÉRIC HAYAT CONSEIL
Éric Hayat Conseil is a company controlled by Éric Hayat, a Director  
of Sopra Steria Group.  
The work performed by this team and the principle for the rebilling to  
the  Company  of  the  costs  incurred  are  covered  in  a  framework  
agreement for assistance approved by the shareholders at the General  
Meeting among related-party agreements (see Section 1.3.4 of this  
chapter on pages 78 to 80) and reviewed each year by the Board of  
Directors.  
This agreement relates to the provision to Executive Management of  
consulting and assistance services, particularly in relation to strategic  
deals  connected  with  business  development,  in  return  for  
compensation  calculated  on  the  basis  of  €2,500  (excluding  taxes)  
per  day.  The  duties  performed  under  this  agreement  are  distinct  
from  those  performed  by  virtue  of  Éric  Hayat’s  directorship.  For  
example,  this  may  involve  but  is  not  limited  to  the  following,  in  
consultation with the Group’s operational managers:  
Pierre Pasquier’s compensation at Sopra GMT, reflects his oversight  
of  the  assignments  performed  by  the  Sopra  GMT  team  for  
Sopra Steria Group and Axway Software. It is not rebilled to these  
two companies.  
taking part in top-level market meetings;  
p
In sum, around 85% of Sopra GMT’s operating expenses are rebilled  
(with the remaining 15% reflecting the estimated expenses arising  
from Sopra GMT’s administration of its investments). Expenses are  
rebilled on a cost-plus basis including a 7% margin. By definition,  
Sopra  GMT  generally  records  a  small  operating  loss.  On  average  
since  2011,  about  70%  of  the  rebillings  have  been  allocated  to  
Sopra Steria  Group.  The  actual  allocation  may  vary  from  year  to  
maintaining  contacts  with  civil  society,  members  or  
representatives of government and central authorities;  
p
taking  part  in  high-level  meetings  with  certain  key  clients  in  
France and abroad;  
p
preparing  for  and  participating  in  delegations  of  corporate  
executives to priority countries for the Group.  
p
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
53
3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
This  enables  the  Company  to  benefit  from  the  experience  and  
knowledge of the Group, some of its key clients and its institutional  
environment  gained  by  Éric  Hayat  throughout  his  career.  For  
reference, Éric Hayat is a co-founder of Steria, former Chairman of  
the  digital  sector  employers’  organisation  and  subsequently  of  
Fédération  Syntec,  and  a  former  member  of  MEDEF’s  Executive  
Committee. His skills and experience are thus particularly well suited  
to the responsibilities entrusted to him, which mainly relate to major  
business opportunities.  
within the Company that are helpful for feeding information back to  
the Board of Directors and its Committees.  
The expenses recorded in Sopra Steria Group’s financial statements  
in  respect  of  services  provided  under  this  agreement  during  the  
financial year under review were as follows:  
expenses: €0.209 million.  
p
1.2. Board of Directors  
1.2.1. MEMBERS OF THE BOARD OF DIRECTORS
On  the  date  at  which  this  Universal  Registration  Document  was  
published, the Board of Directors had 14 members with the right to  
vote, 12 of whom were appointed at the General Meeting andtwo  
of whom were Directors representing the employees.  
They also make him one of the members of the Board of Directors  
directly  involved  in  addressing  the  Group’s  priorities  in  terms  of  
strategic  and  commercial  positioning,  thus  enriching  the  Board’s  
debates.  Éric  Hayat,  in  his  capacity  as  a  member  of  the  
Compensation Committee and the Nomination, Governance, Ethics  
and Corporate Responsibility Committee, provides these committees  
with the benefit of the knowledge of the Group and its operational  
managers  he  has  accumulated  and  maintained  in  the  course  of  
these  assignments.  Lastly,  he  has  access  to  information  channels  
The election of a Director representing employee shareholders will be  
put to a vote at the Combined General Meeting on 26 May 2021.  
SUMMARY PRESENTATION OF THE BOARD OF DIRECTORS  
Personal information  
Position on the Board  
Attendance at meetings in financial year 2020  
Number of  
directorships  
at listed  
Nomination,  
Governance,  
Ethics and  
companies  
Years of  
service  
on the  
(excluding Indepen-  
Start of  
current  
term  
End of  
current  
term  
Corporate  
Compen-  
sation  
Number Sopra Steria  
dent  
Board of  
Audit  
Responsibility  
Committee Committee  
Name  
Age Gender Nationality  
of shares  
Group)  
Director  
Board* Directors Committee  
Pierre Pasquier  
Chairman of the Board  
of Directors  
Éric Pasquier  
Vice-Chairman of the Board  
of Directors  
85  
50  
M
M
FRA  
FRA  
108,113  
3,096  
1
0
12/06/2018  
12/06/2018  
AGM 2024  
AGM 2024  
52  
6
100%  
100%  
100%  
86%  
Sopra GMT, represented  
by Kathleen Clark Bracco  
Chairwoman of the  
Nomination, Governance,  
Ethics and Corporate  
Responsibility Committee  
53  
F
USA  
4,035,669  
1
12/06/2018  
AGM 2024  
6
6
100%  
100%  
100%  
100%  
100%  
Éric Hayat  
Vice-Chairman of the Board  
of Directors  
André Einaudi  
Director  
Michael Gollner  
Director  
Noëlle Lenoir  
Director  
80  
65  
62  
72  
M
M
M
F
FRA  
FRA  
37,068  
100  
100  
1
0
0
1
0
12/06/2018  
09/06/2020  
12/06/2018  
09/06/2020  
AGM 2024  
AGM 2022  
AGM 2022  
AGM 2022  
100%  
67%  
Yes  
Yes  
Yes  
USA/GBR  
FRA  
2
100%  
100%  
100%  
n/a(1)  
Jean-Luc Placet  
Chairman of the  
Compensation Committee  
68  
57  
M
F
FRA  
FRA  
100  
152  
0
2
Yes  
Yes  
12/06/2018  
09/06/2020  
AGM 2022  
AGM 2023  
8
5
100%  
100%  
100%  
88%  
Sylvie Rémond  
Director  
100%  
Marie-Hélène  
Rigal-Drogerys  
Chairwoman of the Audit  
Committee  
Jean-François  
Sammarcelli  
Director  
50  
F
FRA  
100  
1
Yes  
12/06/2018  
AGM 2024  
6
100%  
100%  
86%  
70  
58  
M
F
FRA  
500  
10  
1
0
Yes  
Yes  
12/06/2018  
09/06/2020  
AGM 2022  
AGM 2023  
10  
4
100%  
100%  
100%  
100%  
Jessica Scale  
Director  
FRA/GBR  
100%  
100%  
Hélène Badosa  
Director representing  
the employees  
David Elmalem  
Director representing  
the employees  
62  
38  
F
FRA  
FRA  
0
0
0
0
23/09/2020  
23/09/2020  
AGM 2024  
AGM 2024  
2
100%  
100%  
M
* Number of years as at 31/12/2020, rounded to the nearest year.  
F: Female M: Male.  
(1) not applicable  
54  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
CHANGES IN THE BOARD OF DIRECTORS AND ITS COMMITTEES SINCE THE START OF FINANCIAL YEAR 2020  
Departures  
Appointments  
Reappointments  
Board of Directors  
Astrid Anciaux  
(09/06/2020)  
Gustavo Roldan de Belmira  
(designated by the Works and  
Economic Council on  
31/01/2020 to replace  
René-Louis Gaignard)  
André Einaudi  
(09/06/2020)  
Sylvie Rémond  
(09/06/2020)  
Solfrid Skilbrigt  
(09/06/2020)  
Noëlle Lenoir  
(09/06/2020)  
Jessica Scale  
(09/06/2020)  
Jean-Bernard Rampini  
(09/06/2020)  
David Elmalem
Hélène Badosa  
(designated by the Works and  
(designated by the Works  
and Economic Council on  
23/09/2020)  
Economic Council on  
23/09/2020)  
Gustavo Roldan de  
Belmira  
(09/06/2020)  
Audit Committee  
Nomination, Governance, Ethics and  
Corporate Responsibility Committee  
Noëlle Lenoir  
(25/02/2021)  
Compensation Committee  
Hélène Badosa  
(09/06/2020)  
Sylvie Rémond  
(09/04/2020)  
Hélène Badosa
(28/01/2021)  
the Committee endeavours to assess the depth of their experience  
and  how  closely  it  meets  the  Company’s  needs,  how  well  they  
complement  the  skills  needed  by  the  Board  of  Directors,  their  
availability  and  motivation,  any  conflicts  of  interest,  and  whether  
they  meet  the  independence  criteria  laid  down  in  the  Code  of  
Corporate  Governance.  Additional  actions  are  agreed  upon  as  
needed  and  a  list  of  candidates  to  be  presented  to  the  Board  of  
Directors is drawn up.  
1.2.2. SELECTION PROCESS
The selection process is made up of four phases, throughout which  
the  Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee plays a central role.  
The  first  is  the  needs  analysis  phase.  This  involves  examining  
Directors  whose  terms  of  office  are  nearing  their  end,  any  
constraints on the reappointment of current Directors, compliance  
requirements under the law and the Code of Corporate Governance,  
and the objectives of the diversity policy, all of which are identified  
and taken into account. This analysis is undertaken for the Board of  
Directors itself and its three committees. It focuses on the needs due  
to arise first and makes projections for the years ahead.  
In  the  final  phase,  the  Board  of  Directors,  after  familiarising  itself  
with  the  conclusions  of  the  work  undertaken,  discusses  the  
candidates put forward by the Nomination, Governance, Ethics and  
Corporate Responsibility Committee and decides which will be put  
to the vote at a General Meeting of Shareholders.  
A list of potential candidates is then drawn up based on the needs  
identified. This list draws on names put forward by members of the  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee and members of the Board of Directors more generally,  
names  resulting  from  searches  undertaken  by  recruitment  firms,  
proposals  by  Executive  Management  and,  lastly,  unsolicited  
applications received by the Company.  
In the specific case of Directors representing the employees and the  
Director representing employee shareholders, the Company decided  
to launch an extensive call for applications across the Group.  
The  Directors  representing  the  employees  are  designated  by  the  
Sopra Steria Group Works Council.  
The  Director  representing  employee  shareholders  is  chosen  by  
shareholders  at  the  General  Meeting  from  among  the  candidates  
designated  both  by  the  supervisory  boards  of  the  FCPE  company  
mutual  funds  and  by  employees  holding  their  shares  directly,  as  
provided  by  law.  The  Nomination,  Governance,  Ethics  and  
Corporate  Responsibility  Committee  reviews  the  candidacies  and  
may  recommend,  where  appropriate,  that  the  Board  of  Directors  
support  one  of  the  two  resolutions  concerning  appointments  
potentially submitted at the General Meeting. The candidate elected  
is  the  one  whose  appointment  resolution  gains  the  required  
majority and the most votes, in the event of multiple candidacies.  
The list of potential candidates is decided on by the Chairwoman of  
the  Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee.  A  file  is  put  together  based  on  publicly  available  
information  about  the  candidates.  This  file  is  reviewed  by  the  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee, which decides which candidates to contact and meet.  
The  third  phase  consists  of  arranging  meetings  with  candidates  
selected by all members of the Nomination, Governance, Ethicsand  
Corporate  Responsibility  Committee.  At  their  meetings,  the  
Committee’s members compare their opinions. For each candidate,  
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been  agreed  to  reflect  the  constraints  on  foreign-nationality  
Directors.  This  consists  of  adding  an  additional  20%  weighting  to  
attendance  at  meetings  of  the  Board  and  its  committees  for  
Directors living outside France. This does not apply to Directorswho  
carry out their work within the Group. Three out of the 14 Directors  
have at least one non-French nationality.  
1.2.3. PRESENTATION OF THE DIVERSITY POLICY
The goal of the Board of Directors’ diversity policy is to assemble a  
reasonably  sized  team  that,  in  view  of  the  Group’s  needs  and  
characteristics,  covers  the  range  of  outlooks,  skills  and  experience  
required  for  effective  collective  decision-making.  Individually,  each  
of  the  team’s  members  must  also  show  good  judgement  and  
foresight, and uphold the standards of ethical conduct expected of  
a Director.  
1.2.4. KEY SKILLS REQUIRED FOR THE BOARD
OF DIRECTORS
The impact on diversity and the integration of future members of  
the Board of Directors is considered every time a proposal is made  
to  appoint  or  reappoint  a  Director  at  the  General  Meeting.  The  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee plays a key role in this area.  
It is also a priority for the Board of Directors to have a diverse range  
of skills. The Company has identified ten key competencies that it  
would like to be represented within the Board of Directors. These  
skills and areas of experience are as follows:  
knowledge  of  consulting,  digital  services,  software  
p
Diversity  is  often  assessed  using  measurable  indicators  related  to  
gender equality, age and nationality.  
development  and  the  ability  to  promote  innovation:  this  
expertise will have been gained at a digital services company or  
consulting firm or in an industry sector focused on innovation in  
B2B services;  
With  regard  to  gender  equality,  the  Company  aims  to  continue  
moving toward gender equality to the greatest extent possible, and  
in any event has set itself the target of full compliance with the law  
in this respect. It is actively seeking to achieve gender equality in its  
Board committees.  
knowledge  of  one  of  the  Group’s  key  vertical  markets:  
p
ideally, this expertise will have been gained working for a client of  
the  Group  or  one  of  its  competitors,  though  it  may  also  result  
from  long  sales  experience  in  this  market.  It  should  be  
accompanied by knowledge of the services sector;  
Women currently account for five of the twelve appointments made  
at  the  General  Meeting  (42%).  Two  of  the  three  committees  are  
chaired  by  a  female  Director.  Four  female  Independent  Directors  
belong to at least one committee.  
entrepreneurial  experience:  entrepreneurial  experience  will  
p
have been gained by starting up or taking over an industrial or  
commercial  business  and  through  contact  with  the  various  
stakeholders (clients, employees, lending shareholders, suppliers,  
authorities);  
The  targets  for  bringing  more  women  into  senior  management  
positions  are  presented  in  Section 2.2.3  "Diversity  and  equal  
opportunity"  of  Chapter 4  "Corporate  Responsability"  of  this  
Universal  Registration  Document  (pages  108  to  111).  They  were  
reviewed  and  discussed  at  several  meetings  of  the  Nomination,  
Governance,  Ethics  and  Corporate  Responsibility  Committee  and  
adopted  by  the  Board  of  Directors.  They  take  into  account  the  
Group’s  proactive  approach  to  corporate  social  responsibility,  its  
management  needs,  and  the  current  proportion  of  women  in  its  
business sector and at the Company. On Executive Management’s  
recommendation, the Board of Directors has approved targets, an  
action  plan  and  practical  arrangements  that  will  make  a  real  
difference.  They  focus  on  delivering  far-reaching  action  over  the  
long term, rather than mere hype.  
CEO  of  an  international  group:  this  presupposes  past  or  
p
current  experience  as  a  non-salaried  executive  company  officer  
(Chairman,  CEO  or  Deputy  CEO)  of  a  company  established  in  
more than one country;  
finance, control and risk management: this expertise requires  
professional  experience  gained  in  finance,  audit  or  internal  
control or while holding a corporate office;  
p
human resources and labour relations: this expertise requires  
p
professional  experience  gained  in  human  resources,  either  in  a  
company  or  as  an  external  consultant,  or  while  holding  a  
corporate office;  
Age is not a criterion that is considered. The Company has not set a  
minimum or maximum age requirement for directorships. However,  
the Articles of Association (Art. 14) limit the proportion of Directors  
aged over 75 to one third. The average age of the members of the  
Board of Directors is 62.6 (at 31/12/2020). Two out of 14 Directors  
are over 75 years old.  
international  dimension:  this  indicates  skills  in  cross-cultural  
p
management  combined  with  being  versed  in  more  than  one  
culture, working as an expatriate or holding corporate office in an  
international group;  
social  issues:  this  expertise  presupposes  familiarity  with  
p
The  Company  considers  that  foreign-nationality  Directors  able  to  
serve  their  term  of  office  within  a  French  company  prove  their  
multicultural  dimension.  Given  the  international  dimension  of  the  
Group’s  business  activities,  foreign  nationals  are  an  asset  for  the  
Board  of  Directors.  Wherever  possible,  they  should  come  from  or  
live in the main countries in which the Group operates or in which it  
is  seeking  to  expand  some  or  all  of  its  operations.  To  attract  
Directors living outside France, the internal rules and regulations of  
the  Board  of  Directors  permit  Directors  to  take  part  in  meetings  
using  videoconferencing  or  conference  call  systems,  and  the  
Company  can  make  payments  to  cover  their  travel  costs.  An  
adjustment  to  the  arrangements  for  apportioning  compensation  
referred to in Article L. 225-45 of the French Commercial Code has  
institutions,  industry  bodies,  trade  unions  or  public  benefit  or  
humanitarian organisations;  
knowledge  of  Axway  Software:  knowledge  of  Axway  
p
Software will have been gained through professional experience  
or corporate office at Axway Software or experience as a clientor  
partner of Axway;  
operational experience within the Sopra Steria Group: this  
experience  presupposes  longstanding  current  or  past  service  
within  the  Sopra Steria  Group,  as  an  employee  or  equivalent,  
and in-depth knowledge of the Group, its working practices and  
its management.  
p
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Each of these 10 key areas of expertise and experience are currently represented on the Board of Directors by several Directors (see table  
below):  
Knowledge  
of  
consulting,  
digital  
Opera-  
tional  
services, Knowledge  
software  
develop-  
ment,  
ability to  
promote  
innovation  
of one  
of the  
Group’s  
main  
vertical  
markets  
experience  
within  
the  
CEO  
of an  
interna-  
tional  
group  
Finance,  
Human  
Interna-  
tional  
risk resources  
Knowledge  
of  
Entrepre-  
neurial  
experience  
manage-  
ment and  
control relations  
and  
labour  
teams and  
Sopra  
organi- Societal  
sations priorities Software  
Axway  
Steria  
Group  
Expertise  
Hélène Badosa  
Kathleen Clark  
Bracco  
André Einaudi  
David Elmalem  
Michael Gollner  
Éric Hayat  
Noëlle Lenoir  
Éric Pasquier  
Pierre Pasquier  
Jean-Luc Placet  
Sylvie Rémond  
Sopra GMT  
representative  
Marie-Hélène  
Rigal-Drogerys  
Jean-François  
Sammarcelli  
Jessica Scale  
1.2.5. DIRECTORS REPRESENTING THE EMPLOYEES
AND REPRESENTATION OF EMPLOYEE
SHAREHOLDERS
1.2.6. INDEPENDENT DIRECTORS
The  Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee also monitors the proportion of Independent Directors  
on the Board.  
Two Directors representing the employees were designated on 23  
p
September 2020 by the Sopra Steria Group Works Council. They  
are  namely  Hélène  Badosa,  a  member  of  the  Compensation  
Committee, and David Elmalem.  
Eight  Directors  are  considered  independent  by  the  Board  of  
Directors, or 67% of the Directors appointed by the shareholders at  
the General Meeting.  
A  resolution  appointing  a  Director  representing  the  employee  
p
shareholders will be put to the vote at the General Meetingto be  
held on 26 May 2021. The two advisory bodies made up of the  
supervisory  boards  of  the  FCPE  company  mutual  funds  and  the  
employees  holding  their  shares  directly  both  chose  the  same  
candidate.  
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Every year, the Committee and then the Board of Directors review the status of each member of the Board of Directors with  
respect to the requirements for Independent Directors set out in Article 9 of the AFEP-MEDEF Code of Corporate Governance  
for Listed Companies:  
Requirement 1: Employee or executive company officer in the past five years  
Must not have been at any time over the preceding five years and must not currently be:  
an employee or executive company officer of the Company;  
p
p
p
an employee or executive company officer or Director of a company that the Company consolidates;  
an employee, executive company officer or Director of the parent company or of a company consolidated by that parent company.  
Requirement 2: Cross-directorships  
Must not be an executive company officer of a company in which the Company directly or indirectly holds a directorship, or in which an  
employee appointed as such or an executive company officer of the Company (currently serving or having served within the preceding five  
years) holds a directorship.  
Requirement 3: Material business relationships  
Must not be a customer, supplier, commercial banker, corporate banker or consultant:  
of material importance to the Company or Group;  
p
p
or a material portion of whose business is transacted with the Company or Group.  
The materiality of the relationship with the Company or its Group is considered by the Board, and the quantitative and qualitative criteria  
used to formulate its opinion (continuity, economic reliance, exclusivity, etc.) are stated explicitly in the Annual Report.  
Requirement 4: Family ties  
Must not have close family ties with a company officer.  
Requirement 5: Statutory Auditor  
Must not have been a Statutory Auditor during the preceding five years.  
Requirement 6: Term of office of over 12 years  
Must not have been a Director of the Company for more than 12 years. Directors lose their Independent Director status on the  
12th anniversary date of their appointment.  
Requirement 7: Non-executive company officer  
A non-executive company officer may not be considered independent if he/she receives his/her variable compensation in cash or shares or  
any other payment linked to the performance of the Company or the Group.  
Requirement 8: Major shareholder  
Directors representing major shareholders of the Company or its parent company may be considered independent if these shareholders do  
not have full or partial control of the Company. However, if the relevant major shareholders hold more than 10% of the share capital or of  
voting rights, the Board, based on a report by the nomination committee, considers as a matter of course the Directors’ independent  
status with regard to the composition of the share capital and any potential conflicts of interest.  
Requirements  
(1)  
André  
Einaudi  
Michael  
Gollner  
Noëlle Jean-Luc  
Sylvie Marie-Hélène Jean-François  
Jessica  
Scale  
Lenoir  
Placet Rémond Rigal-Drogerys Sammarcelli  
Employee or executive  
company officer in the  
Requirement 1: past five years  
Requirement 2: Cross-directorships  
Material business  
Requirement 3: relationships  
Requirement 4: Family ties  
Requirement 5: Statutory Auditor  
Term of office of over  
Requirement 6: 12 years  
Non-executive  
Requirement 7: company officer  
Requirement 8: Major shareholder  
In this table, represents an independence requirement that is satisfied and an independence requirement that is not satisfied.  
(1)  
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Comments and clarifications  
Requirement 1  
purchases).  They  do  not  give  rise  to  any  reciprocal  dependence.  
Accordingly,  the  Nomination,  Governance,  Ethics  and  Corporate  
Responsibility  Committee  considers  that  these  services  do  not  
constitute a material business relationship likely to call into question  
Jean-Luc  Placet’s  status  as  an  Independent  Director.  The  Board  of  
Directors has endorsed this view.  
Like  Sopra Steria  Group,  Axway  Software  is  fully  consolidated  by  
Sopra  GMT.  In  keeping  with  the  opinion  of  the  Nomination,  
Governance,  Ethics  and  Corporate  Responsibility  Committee,  the  
Board of Directors considers that the status of Michael Gollner and  
of  Marie-Hélène  Rigal-Drogerys  as  members  of  the  Board  of  
Directors of Axway Software does not call into question their status  
as Independent Directors:  
The Société Générale group is client of the Sopra Steria Group and  
also acts as a commercial banker to it. At the recommendation of  
the  Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee, the Board of Directors concluded that:  
Axway Software’s day-to-day operations and investments are not  
p
Sylvie  Rémond  was  appointed  in  her  own  name  and  does  not  
p
discussed by Sopra Steria Group’s Board of Directors, although it  
is  kept  informed  on  a  regular  basis  of  the  company’s  position  
operational and financial performance;  
represent the Société Générale group on the Board of Directors;  
Sylvie Rémond’s professional duties do not place her in a position  
p
to take or influence decisions within the Socié Générale group  
that  might  have  repercussions  for  Sopra Steria’s  business  or  
operations;  
the procedure for handling potential conflicts of interest apply to  
the consideration of matters related to Axway Software;  
p
the Independent Directors present on both Sopra Steria Group’s  
p
the Socié Générale group does not generally act as an advisor  
for the Group’s external growth transactions;  
p
and  Axway  Software’s  Boards  of  Directors  ensure  that  opinions  
independent  of  the  core  shareholder  are  heard  on  issues  
concerning both companies and their strategy.  
although  the  Société  Générale  group  is  a  major  client  for  
p
Sopra Steria  (accounting  for  more  than  1%  of  the  Group’s  
revenue), the existing business relations between the two groups  
do  not  entail  any  mutual  dependence  and  are  not  different  in  
nature  from  those  maintained  by  Sopra Steria  with  other  large  
French and international banking groups, given that the banking  
sector is one of Sopra Steria’s key markets.  
Requirement 3  
Members of the Board of Directors and, more frequently, companies  
in which they hold an office or have an interest, may act as a client,  
supplier, investment banker, commercial banker or consultant to the  
Sopra Steria Group or its core shareholder.  
A real estate investment trust held byAndré Einaudi happens to be  
the owner of premises occupied by the Company for a number of  
years  at  one  of  its  locations  in  France,  the  Board  of  Directors  
considers  that  these  circumstances  do  not  constitute  a  material  
business  relationship.  In  reaching  this  conclusion,  the  Board  took  
into account the age, term and amount of the lease, signed prior to  
André  Einaudi’s  appointment  as  a  Director.  It  also  noted  the  
customary  nature  of  this  type  of  relationship  for  the  Group.  With  
limited exceptions, the Group does not own its buildings. Lastly, the  
Board  confirmed  that  no  dependency  is  created  for  the  lessor  in  
relation to this lease.  
The  Board  of  Directors  then  determines  whether  the  nature,  
purpose  or  importance  of  this  business  relationship  is  of  special  
importance  such  that  it  may  affect  the  person’s  status  as  an  
Independent  Director,  based  on  the  prior  work  done  by  the  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee.  
In  the  case  of  a  business  relationship,  its  significance  is  deduced  
from  checking  various  criteria  (strategic  nature  of  the  service,  
mutual  dependency,  business  volume   in  particular  when  it  is  
greater  than  1%  of  annual  revenue,  means  of  selection  and  
frequency of competitive procedures, Director’s involvement in the  
business relationship etc.). Business relationships identified between  
employers of two Directors and Sopra Steria Group were deemed  
immaterial  by  the  Board  of  Directors  after  the  situation  was  
reviewed  by  the  company’s  Nomination,  Governance,  Ethics  and  
Corporate Responsibility Committee.  
No  other  business  relationships  were  identified  by  the  Company  
with Independent Directors.  
1.2.7. SENIOR INDEPENDENT DIRECTOR
Since the duties of Chairman of the Board of Directors and of Chief  
Executive  Officer  are  held  by  separate  individuals,  no  Senior  
Independent Director (administrateur référent) has been appointed.  
The  Chairman  of  the  Board  of  Directors  is  responsible  for  the  
Board’s shareholder relations (see Section 1.1.1 Role of executive  
company officers” of this chapter).  
Sopra Steria  Group  purchases  consulting  services  from  PwC.  
Jean-Luc  Placet’s  role  within  PwC  is  not  connected  operationally  
with the relevant activities. These services are not material either for  
Sopra Steria Group or for PwC, either with respect to their nature  
or  the  revenues  they  generate  (less  than  1%  of  the  Group’s  
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1.2.8. DETAILED PRESENTATION OF THE MEMBERS OF THE BOARD OF DIRECTORS
PIERRE PASQUIER  
Chairman of the Board of Directors  
Number of shares in the Company
owned personally: 108,113 (1)
Member of the Nomination, Governance, Ethics and  
Corporate Responsibility Committee  
Date of first appointment:1968  
(date Sopra was founded)  
Date term of office ends:General Meeting to  
approve the financial statements for the year ended  
31/12/2023  
p
Business address:  
Sopra Steria Group – 6 avenue Kleber  
75116 Paris – France  
Nationality:French  
Age:85  
Appointments
Outside the
Group
Outside
France
Listed
company
Main positions and appointments currently held
Chairman of the Board of Directors ofSopra Steria Group  
p
Chairman of the Board of Directors of Axway Software  
p
Chairman and CEO of Sopra GMT  
p
Executive company officer, Director or permanent representative of Sopra GMT at  
Sopra Steria Group subsidiaries (direct and indirect)  
p
Company officer of direct and indirect subsidiaries of Axway Software  
p
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
Pierre  Pasquier  has  more  than  50 years’  experience  in  digital  services  and  management  of  an  international  business.  He  and  his  associates  
founded Sopra Group in 1968, and he chairs the Board of Directors.  
After graduating in mathematics from the University of Rennes, Pierre Pasquier began his career at Bull before focusing on starting up Sogeti,  
which he left to found Sopra. Recognised as a pioneer in the sector, he has always affirmed the entrepreneurial spirit of the company, which aims  
to serve key account clients by drawing on innovation and shared success.  
Pierre  Pasquier  oversaw  Sopra’s  expansion  in  its  vertical  markets  and  internationally.  The  1990  IPO,  successive  growth  phases  and  the  
transformational 2014 tie-up with Groupe Steria have secured the company’s independence in a changing market.  
In 2011, Pierre Pasquier oversaw the IPO of subsidiary Axway Software, whose Board of Directors he continues to chair.  
Pierre Pasquier served as Chairman and Chief Executive Officer of Sopra Group until 20 August 2012, when the roles of Chairman and Chief  
Executive Officer were separated.  
Pierre Pasquier is also Chairman and Chief Executive Officer of Sopra GMT, the holding company for Sopra Steria Group and Axway Software.  
(1) The Pasquier family group holds 68.27% of the share capital of Sopra GMT (the holding company that takes an active role in managing Sopra Steria Group and Axway Software). Shares held  
directly or indirectly through Sopra GMT by the Chairman in a personal capacity or by the Chairman’s family group make up more than 10% of the Company’s share capital. See Chapter 7,  
Section 2 (“Share ownership structure”), on page 267 of this Universal Registration Document.  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
ÉRIC PASQUIER  
Vice-Chairman of the Board of Directors  
Number of shares in the Company
owned personally: 3,096 (1)
Member of the Audit Committee  
Date of first appointment:27/06/2014  
Date term of office ends: General Meeting to approve  
the financial statements for the year ended 31/12/2023  
p
Business address:  
Sopra Banking Software –  
6 avenue Kleber – 75116 Paris – France  
Nationality:French  
Age:50  
Appointments
Outside the
Group
Outside France
Listed
company
Main positions and appointments currently held
Chief Executive Officer of Sopra Banking Software  
p
Managing Director and member of the Board of Directors of Sopra GMT  
p
Company officer of direct and indirect subsidiaries of Sopra Steria Group  
p
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
Éric Pasquier is Chief Executive Officer of Sopra Banking Software. He has been with the Group for over 20 years. He is also Vice-Chairman of  
Sopra Steria Group’s Board of Directors and Managing Director of Sopra GMT, the holding company for Sopra Steria Group and Axway Software.  
After graduating from the EPITA IT engineering school, Éric Pasquier began his career in 1996 at the Altran group, where he managed IT projects  
on behalf of several key account customers.  
He  joined  Sopra  in  1999,  where  he  began  to  broaden  his  experience  in  the  operational  management  of  major  projects,  notably  in  
telecommunications, a fast-changing field at the start of the new millennium.  
In  2004,  Éric  Pasquier  was  given  responsibility  for  setting  up  the  Group’s  first  nearshore  industrial  service  centre  in  Spain  and  thus  acquired  
experience in the coordination of multi-country operations, in this case involving Spain and France.  
He was named CEO of Sopra’s Spanish subsidiary in 2008. Thanks to his managerial skills and guided by his long-term vision, this subsidiary was  
able to deliver strong growth and withstand the 2008/2009 financial crisis, despite having many banking clients, before returning to a good level  
of economic performance in the early 2010s.  
Éric Pasquier returned to France in 2014 to serve as Deputy CEO of Sopra Banking Software and became its Chief Executive Officer in 2016.  
In this position, he guides many financial players in Europe, the Middle East and Africa through their digital transformation.  
He is overseeing Sopra Banking Software’s corporate plan in both specialist financing and retail banking, Éric Pasquier also supervises all of the  
Group’s  activities  in  the  financial  services  vertical,  and  thus  coordinates  the  banking  business  solutions  provided  by  subsidiaries  across  all  
geographies concerned.  
In carrying out his various responsibilities, he draws on his wealth of experience in the field and his particular focus on human resources, qualities  
he has brought to his work as a member of Sopra Steria’s Board of Directors since 2014.  
(1) The Pasquier family group holds 68.27% of the share capital of Sopra GMT (the holding company that takes an active role in managing Sopra Steria Group and Axway Software). Shares held  
directly or indirectly through Sopra GMT by the Chairman in a personal capacity or by the Chairman’s family group make up more than 10% of the Company’s share capital. See Chapter 7,  
Section 2 (“Share ownership structure”), on page 267 of this Universal Registration Document.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
SOPRA GMT KATHLEEN CLARK BRACCO  
Permanent representative of Sopra GMT  
Number of shares in the Company
held by Sopra GMT: 4,035,669
Chairwoman of the Nomination, Governance, Ethics  Date of first Sopra GMT appointment:27/06/2014  
p
p
and Corporate Responsibility Committee  
Member of the Compensation Committee  
Date term of office ends:General Meeting to approve  
the financial statements for the year ended 31/12/2023  
Business address:  
Sopra Steria Group – 6 avenue Kleber  
75116 Paris – France  
Nationality:American  
Age:53  
Appointments
Main positions and appointments currently
held by Kathleen Clark Bracco
Outside the
Group
Outside France Listed company
Director of Corporate Development of Sopra Steria Group  
p
Vice-Chairwoman of the Board of Directors of Axway Software  
p
Deputy Director of Sopra GMT  
p
Director or permanent representative of Sopra GMT at Sopra Steria Group   
p
subsidiaries (direct and indirect)  
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
Kathleen Clark Bracco has worked at Sopra Steria Group for over20 years. She is currently Director of Corporate Development.  
After graduating with a Master’s degree in arts and literature from the University of California (Irvine), she began her career in teaching in the  
United States. In 1998, she left Silicon Valley for France, where she joined Sopra, working in the Communications Department. She served as  
Director of Investor Relations from 2002 to 2015 In that role, she forged solid relationships between the Group’s executive bodies and a range of  
increasingly international shareholders.  
Kathleen Clark Bracco was also involved in the successful spin-off of Axway, which generates half of its revenue in the United States. She joined  
Axway’s  Board  of  Directors  in  2011  and  has  served  as  its  Deputy  Chairman  since  2013.  This  role  therefore  promotes  strategic  harmonisation  
between the two groups.  
As Deputy Director of Sopra GMT since 2012, she made a significant contribution to the success of the merger between Sopra and Steria in 2014  
In 2015, she was appointed Director of Corporate Development for the new Group, where she oversees acquisition opportunities to round out the  
business  portfolio  in  line  with  the  Group’s  strategy.  She  is  also  involved  in  a  number  of  the  Group’s  corporate  initiatives,  in  particular  those  
addressing issues of fairness, anti-corruption measures, ethics and employee share ownership.  
Kathleen Clark Bracco was first appointed to the Board of Directors in 2012. She was named as the permanent representative of Sopra GMT in  
2014 and has chaired the Nomination, Governance, Ethics and Corporate Responsibility Committee ever since. In this role, her long experience  
within  the  Group  and  its  governing  bodies,  her  knowledge  of  the  financial  markets,  her  commitment  to  social  and  societal  issues  and  her  
communication skills all contribute to the sound governance of Sopra Steria.  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
ÉRIC HAYAT  
Vice-Chairman of the Board of Directors  
Number of shares in the Company
owned personally: 37,068
Member of the Compensation Committee  
Member of the Nomination, Governance, Ethics and  
Corporate Responsibility Committee.  
Date of first appointment:27/06/2014  
p
Date term of office ends:General Meeting to  
approve the financial statements for the year ended  
31/12/2023  
p
Business address:
Sopra Steria Group – 6 avenue Kléber  
75116 Paris – France  
Nationality:French  
Age:80  
Appointments
Outside the
Group
Outside
France
Listed
company
Main positions and appointments currently held
President of Éric Hayat Conseil  
p
Chairman of the public interest group  
Modernisation des Déclarations Sociales (MDS GIP)  
p
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
Éric Hayat has been Vice-Chairman of the Board of Directors of Sopra Steria Group since 2014. He co-founded Groupe Steria in 1969 and served  
as its Deputy Chief Executive Officer. He was the group’s Chairman at the time of the tie-up with Sopra in 2014.  
A graduate in engineering from the École Nationale Supérieure de l’Aéronautique, Mr Hayat is a seasoned professional in the digital world. He  
contributed to the expansion of Groupe Steria both internationally and in a wide range of vertical markets, notably in the public sector. In 2014,  
Groupe Steria generated three quarters of its revenue outside France.  
Alongside  his  professional  career,  Éric  Hayat  is  recognised  for  his  commitment  to  representing  the  digital  sector.  As  Chairman  of  the  Syntec  
Informatique  employers’  organisation  from  1991  to  1997  and  of  Fédération  Syntec  from  1997  to  2003,  he  led  key  projects  such  as  the  
implementation of the collective bargaining agreement and the 35-hour working week.  
As a member of the Executive Committee of MEDEF from 1997 to 2005, Éric Hayat chaired the committee tasked with negotiating the research  
tax credit.  
He has served as Chairman of the French public interest group for the “Modernisation of Payroll Reporting” since 2000. In this capacity, he brings  
together public sector bodies, collective pension organisations, chartered accountants and software vendors to boost the digital transformation of  
social protection. As an example, the group contributed to the success of France’s new pay-as-you-earn tax system. Through his close working  
relationships  with  a  wide  range  of  stakeholders,  Éric  Hayat  is  a  Vice-Chairman  particularly  focused  on  current  far-reaching  changes  affecting  
society.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
ANDRÉ EINAUDI  
Independent Director  
Number of shares in the Company
owned personally: 100
Business address:  
c/o Ortec Expansion  
550, rue Pierre Berthier  
Parc de Pichaury  
Date of first appointment:09/06/2020  
Date term of office ends:General Meeting to  
approve the financial statements for theyear  
ended 31/12/2021  
13100 Aix-en-Provence – France  
Nationality:French  
Age:65  
Appointments
Outside
the Group
Outside
France
Listed company
Main positions and appointments currently held
Chairman and CEO of Ortec group  
p
p
p
p
p
Director of Crédit Mutuel Equity (SA)  
Chairman of La Cave de la Bargemone  
Joint Manager of SCEA du Sud Est  
Company officer of direct and indirect subsidiaries of Ortec group  
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
André Einaudi is the Founding Chairman and CEO of Ortec Group, an international integrator of construction and engineering solutions, with  
locations on four continents.  
An engineer and graduate of the IAE Aix-en-Provence business school, André Einaudi has spent his entire career in business services. He joined a  
group of service companies in southeastern France in 1980 as a project engineer. He built the company’s Service, Organisation and Methods  
Department  from  the  ground  up  to  meet  the  needs  of  its  client  Total.  In  1985,  he  was  named  to  head  the  Industrial  Agencies  Department,  
managing a team of 300 people.  
In 1987, he became Chairman of the Executive Board of an entity bringing together the industrial engineering firm Buzzichelli and the activities of  
the Industrial Maintenance and Environment Department under his aegis, which took the name Ortec.  
Backed by a team of senior managers, André Einaudi led the leveraged management buy-out of Ortec in 1992. Newly independent, the young  
firm expanded into the fields of waste management and the decontamination of industrial sites. Through a series of successful acquisitions, André  
Einaudi has guided Ortec’s continuing development with a focus on diversification, with respect to both client sectors and business activities.  
Widely recognised as a business leader, André Einaudi created O. Forum in 2000, an annual event for decision makers across industries. Each year,  
he brings together a panel comprised of participants from various backgrounds, to exchange ideas, share the transformations and challenges that  
will be faced by industry in the future.  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
MICHAEL GOLLNER  
Independent Director  
Number of shares in the Company
owned personally: 100
Member of the Audit Committee  
Date of first appointment:12/06/2018  
Date term of office ends:General Meeting to approve  
the financial statements for the year ended 31/12/2021  
p
Business address:  
21 Poland Street  
London W1F 8QG, United Kingdom  
Nationality:American and  
British  
Age:62  
Appointments
Outside the
Group
Outside France
Listed
company
Main positions and appointments currently held
Director of Axway Software  
p
Executive Chairman of Madison Sports Group  
p
Managing Partner of Operating Capital Partners  
p
Director of Levelset  
p
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
Michael Gollner is an experienced entrepreneur, investor and member of several boards of directors. His expertise spans the media andtechnology  
sectors and the field of business transformation. Holder of an MA in international studies from the University of Pennsylvania and anMBA from  
the Wharton School, Michael Gollner began his career in investment banking at Marine Midland Bank from 1985 to 1987, Goldman Sachs from  
1989 to 1994 and Lehman Brothers from 1994 to 1999.  
With a passion for technology and media  sectors little understood by the market at the time  in 1999 he joined Citigroup Venture Capital  
(which later became Court Square Capital) as its Managing Director, Europe.  
He founded investment firm Operating Capital Partners in London in 2008. As Managing Partner, Michael Gollner supports the development of a  
portfolio  of  companies  in  around  20 countries,  mostly  in  the  technology,  media  and  cable  sectors.  On  a  day-to-day  basis,  he  handles  issues  
relating  to  data  processing  and  business  model  transformation.  Thanks  to  his  expertise  in  this  area,  he  is  a  director  of  Levelset,  a  payments  
platform in the construction sector.  
Michael Gollner is also Executive Chairman of Madison Sports Group, which he founded in 2013. The group promotes the Six Day Series of  
professional cycling events, which have enjoyed great success worldwide.  
Michael Gollner has been a member of the Board of Directors of Axway Software since 2012 and of the Board of Directors of Sopra Steria since  
2018, where he brings the perspective of a business financing specialist from the English-speaking world who is closely involved in the operational  
aspects of the companies he manages or supports.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
NOËLLE LENOIR  
Independent Director  
Number of shares in the Company
owned personally: 1
Member of the Nomination, Governance, Ethics  
and Corporate Responsibility Committee  
Date of first appointment:09/06/2020  
Date term of office ends:General Meeting to approve  
p
the financial statements for the year ended 31/12/2021  
Business address:  
28 boulevard Raspail  
75007 Paris – France  
Nationality:French  
Age:72  
Appointments
Outside the
Group
Outside France
Listed
company
Main positions and appointments currently held
Attorney-at-law, Noëlle Lenoir Avocats  
p
Vice-Chairwoman of the International Chamber of Commerce (French delegation)  
Chairwoman of the Legal Commission of “Grand Paris/Ile de France”  
Member of the Académie Française des Technologies  
Director of Cluster Maritime de France  
p
p
p
p
p
Director of HEC  
Other directorships and offices held during the last five years
Director of Valéo and Compagnie des Alpes  
p
Chairwoman of the Science and Ethics Committee of Parcoursup  
p
Chairwoman of the Ethics Committee of Radio-France  
p
Biography  
Noëlle Lenoir is a lawyer, former judge and politician, with expertise in ethics, professional conduct and European affairs.  
A graduate of the Institut d’Études Politiques de Paris,she earned her law degree from the Université de Paris and began her career at the French  
Senate  in  1972,  then  joined  the  CNIL  in  1982,  the  French  Data  Protection  Authority.  As  the  CNIL’s  Chief  Legal  Officer,  she  supervised  the  
implementation of the French data protection and freedom of information act(Loi informatique et libertés). Noëlle Lenoir joined the Conseil d’État  
(France’s  highest  administrative  court)  in  1984  as  a  maître  de  requêtes  (master  of  petitions)  where  she  carried  out  the  roles  of  Government  
Commissioner (now known as Public Rapporteur). She then became head of the French Minister of Justice’s office, before being appointed by the  
Prime Minister to carry out an investigation into bioethics law. Her report was used as the basis for drawing up the first law on bioethics in France.  
The first woman appointed to France’s Constitutional Council (1992 to 2001), she also chaired UNESCO’s International Bioethics Committee from  
1992 to 1999 and was Chairwoman of the European Bioethics Group on Science and New Technology at the European Commission (1994 to  
2001).  
She  later  taught  law  at  Columbia  University  in  New  York  and  University  College  London,  before  returning  to  France  in  2002  when  she  was  
appointed Minister for European Affairs. In this position, she notably took part in negotiations with accession countries in Central and Western  
Europe to prepare their integration into the European Union.  
Subsequently,  Noëlle  Lenoir  practised  as  a  lawyer  (specialising  in  digital  and  data  protection  law,  internal  and  international  investigation,  
compliance  and  anti-corruption,  labour,  competition  and  European  law)  before  being  appointed  the  first  Chief  Ethics  Officer  of  the  French  
National  Assembly,  where  she  served  from  2012  to  2014,  reviewing  the  statements  of  interest  submitted  by  members  and  drafting  initial  
recommendations based on members’ code of conduct.  
Since then, she has chaired Ethics Committees at Radio France and the Parcoursup platform, further expanding her expertise relating to social  
issues.  
Noëlle Lenoir has contributed many articles to law journals and is the author of several books and numerous reports. She has hosted programmes  
and moderated debates notably on BFM Business and France 24, and has been a columnist and contributor to L’Express, La Tribune and France  
Culture.  She  has  taught  at  a  range  of  prestigious  schools  and  universities.  She  is  Chairman  of  the  “Cercle  des  Européens”,  a  forum  for  
decision-makers to engage in dialogue with European leaders.  
Noëlle Lenoir is also currently the Vice-Chairwoman of ICC France and the Chairwoman of the Legal Commission of “Grand Paris/Ile de France”,  
responsible for formulating proposals on the region’s appeal as a legal centre.  
In 2020, Noëlle Lenoir set up her own firm specialising five main areas – corporate social responsibility and compliance (climate litigation, duty of  
vigilance  and  anti-corruption  responsibilities),  data  protection,  public  business  law  and  European  law,  as  well  as  internal  and  international  
investigations.  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
JEAN-LUC PLACET  
Independent Director  
Number of shares in the Company
owned personally: 100
Chairman of the Compensation Committee  
Member of the Nomination, Governance, Ethics and  
Corporate Responsibility Committee  
Date of first appointment:19/06/2012  
Date term of office ends:General Meeting to approve  
the financial statements for the year ended 31/12/2021  
p
p
Business address:  
PwC, 63, rue de Villiers  
92208 Neuilly sur Seine – France  
Nationality:French  
Age:68  
Appointments
Outside the
Group
Outside
France
Listed
company
Main positions and appointments currently held
Partner at PwC  
p
Chairman of IDRH SA  
p
Other directorships and offices held during the last five years
Member of the Conseil Économique, Social et Environnemental  
p
Chairman of Fédération Syntec  
p
Member of the Statutory Committee of MEDEF  
p
Chairman of EPIDE  
p
Biography  
Jean-Luc Placet has spent much of his career as a management, organisation and human resources consultant for large organisations.  
After  graduating  from  the  ESSEC  business  school,  he  began  his  career  at  Saint-Gobain’s  marketing  department  before  joining  the  marketing  
department of monthly business magazine L’Expansion. He joined consulting firm IDRH in 1981 and became its Chairman and CEO in 1992. Ever  
since  then,  he  has  overseen  IDRH’s  expansion  at  the  same  time  as  being  heavily  involved  in  employers’  organisations  (MEDEF  and  Syntec  
Informatique) as well as France’s Economic, Social and Environmental Council.  
IDRH joined PwC in 2016, retaining Jean-Luc Placet as its Chairman. He is also a PwC partner.  
In his role as Chairman and CEO of IDRH, Jean-Luc Placet has supported numerous ministries and French multinational, drawing on his ability to  
harness the power of people to transform organisations. By putting employee commitment at the heart of the corporate plan, he helps fuel  
Sopra Steria Group’s strategic thinking in this area. Compensation and governance have also been key areas of focus during his career.  
His elected duties on various Syntec bodies, including chairing Fédération Syntec (2011-2014) and European federation Feaco (2007-2012), give  
him a broad overview of the social challenges posed by business transformation at the international level. He has also contributed to the work of  
France’s Economic, Social and Environmental Council on labour relations and new forms of management.  
As a member of the Executive Committee and subsequently the Statutory Committee of MEDEF, Jean-Luc Placet also gained further expertise in  
the governance and operation of executive bodies. He draws on the full range of this expertise in his role as Chairman of Sopra Steria Group’s  
Compensation Committee.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
SYLVIE RÉMOND  
Independent Director  
Number of shares in the Company
owned personally: 152
Member of the Compensation Committee  
Date of first appointment:17/03/2015  
Date term of office ends:General Meeting to approve  
the financial statements for the year ended 31/12/2022  
p
Business address:  
Société Générale  
75886 Paris Cedex 18 – France  
Nationality:French  
Age:57  
Appointments
Outside the
Group
Outside France
Listed
company
Main positions and appointments currently held
Group Chief Risk Officer, Société Générale Group  
p
Director of Sogecap (Société Générale Group)  
p
Other directorships and offices held during the last five years
Director of SGBT, Luxembourg (Société Générale group)  
p
Director of Rosbank, Russia (Société Générale group)  
p
Director of KB Financial Group, Czech Republic  
(Société Générale group)  
p
Director of ALD SA, France (subsidiary of the Société Générale group)  
p
Biography  
Sylvie Rémond has over 35 years’ experience in customer relations, structured finance and risk management. She has been Société Générale’s  
Group Chief Risk Officer since 2018 and a member of its Executive Committee since 2011.  
After graduating from the ESC Rouen business school, Sylvie Rémond joined Société Générale in 1985. She held a number of positions in the  
Individual  Client  division,  where  she  gained  an  understanding  of  retail  banking,  and  subsequently  the  Large  Corporate  division,  where  she  
developed a flair for customer relations, with a heavily international focus.  
She joined the Structured Finance Department in 1992, where she helped numerous businesses fulfil their strategic plans by structuring acquisition  
finance and leveraged deals.  
In 2000, Sylvie Rémond was appointed Head of Corporate and Acquisition Finance Syndication, a role in which she developed her knowledge of  
international financial and debt markets.  
In 2004, she was appointed Head of Credit Risk for the Corporate and Investment Banking business. Supported by a large team of experts, she  
was involved in signing off all financing deals where the bank was lead arranger. After being appointed Deputy Group Chief Risk Officer in 2010,  
she was notably responsible for managing the impact of the financial crisis on the bank’s lending book.  
In 2015, she moved back to the commercial side of the business as Global Co-Head of Coverage and Investment Banking, overseeing a broad  
range of activities from financing to equity.  
Sylvie Rémond was appointed Group Chief Risk Officer in 2018. She manages all of the group’s credit, market and operational risks so that senior  
management can focus on transforming the bank in a way that is both profitable and resilient, in response to the challenges posed by increasingly  
strict regulations.  
She has also served on the risk and audit committees of a number of French and foreign subsidiaries of Société Générale Group, bolstering her  
experience of corporate governance in listed and unlisted companies.  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
MARIE-HÉLÈNE RIGAL-DROGERYS  
Independent Director  
Number of shares in the Company
owned personally: 100
Chairwoman of the Audit Committee  
Date of first appointment:27/06/2014  
Date term of office ends:General Meeting to approve  
the financial statements for the year ended 31/12/2023  
p
Business address:  
École Normale Supérieure de Lyon  
15, parvis René Descartes  
BP 7000 – 69342 Lyon Cedex 07 – France  
Nationality:French  
Age:50  
Appointments
Outside the
Group
Outside France
Listed
company
Main positions and appointments currently held
Adviser to the President, École Normale Supérieure de Lyon  
p
Director of Axway Software  
p
Expert member of the Advisory Board, Institut Mines-Télécom (IMT) Albi-Carmaux  
p
Other directorships and offices held during the last five years
Consultant and Partner of Ask Partners  
p
Biography  
A trained scientist, Marie-Hélène Rigal-Drogerys has a sound understanding of the world of higher education, research and innovation, and of the  
public sector more generally, which she combines with an operational and executive approach to strategy and organisation.  
Marie-Hélène Rigal-Drogerys has a PhD in mathematics and a DEA postgraduate degree in theoretical physics. She began her career as a lecturer  
and researcher at the University of Montpellier and subsequently at the École Normale Supérieure de Lyon. In 1998, she moved into the world of  
financial audit. In this field, she worked for key accounts in industry, services and the public sector and faced new and specific challenges. As a  
Senior Manager with the Mazars Group, she managed the financial audit of Sopra until 2008.  
Marie-Hélène Rigal-Drogerys then worked as a Consulting Partner at Ask-Partners. From 2009 to 2017, she helped businesses and organisations  
transition to new models.  
As  Adviser  to  the  President  of  the  École  Normale  Supérieure  de  Lyon,  she  has  been  working  since  2017  to  help  the  institution  emerge  as  a  
world-class university.  
Throughout her career, she has naturally brought multiple stakeholders together to help decision-making bodies seek solutions in complex and  
changing situations.  
In her role as Chairwoman of Sopra Steria’s Audit Committee, Marie-Hélène Rigal-Drogerys strives to integrate the strategic, business and human  
dimensions, with a constant focus on taking into the account the far-reaching transformation the Group is currently undergoing.  
She also draws on these skills as a Director of Axway Software and an expert member of the Board of the IMT Mines Albi-Carmaux engineering  
and management school.  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
JEAN-FRANÇOIS SAMMARCELLI  
Independent Director  
Number of shares in the Company
owned personally: 500
Member of the Audit Committee  
Date of first appointment:15/04/2010  
p
Member of the Nomination, Governance, Ethics and Corporate  Date term of office ends:General   
p
Responsibility Committee  
Meeting to approve the financial statements  
for the year ended 31/12/2021  
Business address:  
Sopra Steria Group  
6 avenue Kleber – 75116 Paris – France  
Nationality:French  
Age:70  
Appointments
Outside
the Group
Outside
France
Listed
company
Main positions and appointments currently held
Chairman of the Supervisory Board, NextStage  
Director of Crédit du Nord  
p
p
p
p
Director of Boursorama  
Non-Voting Director of Ortec Expansion  
Other directorships and offices held during the last five years
Director of RiverBank, Luxembourg  
p
Member of the Supervisory Board of Société Générale Marocaine de Banques  
p
Director of Société Générale Monaco  
p
Biography  
Jean-François Sammarcelli is a graduate of the École Polytechnique and spent his entire career at Société Générale until his retirement in 2015. He  
held top-tier positions there, giving him in-depth expertise in executive management, finance and control.  
In particular, as Director of Real Estate Business from 1995 to 2000, Jean-François Sammarcelli oversaw the policy of restructuring the bank’s real  
estate business during the 1990s real estate crisis. He worked for the investment banking business from 2000 to 2004, first as Chief Operations  
Officer and subsequently as Chief Financial Officer and then Co-Head of the department responsible for relations with corporate and financial  
institution key accounts. During this period, he was involved in the global reorganisation of SGCIB after the internet bubble burst.  
He then continued his career at Société Générale in the retail bank, where he served as Network Director, France, Deputy CEO and finally Head of  
Retail Banking, France.  
Sopra Steria Group’s Board of Directors benefits from Jean-François Sammarcelli’s extensive and varied experience in the banking world, which  
has long been a strategic vertical market for the Group. Furthermore, he has served in executive management roles and as a director in a group  
recognised as a pioneer in digital transformation and innovation in customer relationships.  
Heavily involved in governance at Société Générale and its subsidiaries, as well as at groups where he has served as an independent director,  
Jean-François Sammarcelli also brings experience of corporate tie-ups.  
70  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
JESSICA SCALE  
Independent Director  
Number of shares in the Company
owned personally: 10
Member of the Compensation Committee  
Member of the Nomination, Governance, Ethics and  
Corporate Responsibility Committee  
Date of first appointment:22/06/2016  
p
Date term of office ends:General Meeting to  
approve the financial statements for the year ended  
31/12/2022  
p
Business address:  
Sopra Steria Group – 6 avenue Kleber  
75116 Paris – France  
Nationality:French and British  
Age:58  
Appointments
Outside the
Group
Outside
France
Listed
company
Main positions and appointments currently held
Chairwoman of digitfit  
p
Independent consultant specialising in the challenges posed by the digital transformation  
p
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
Jessica  Scale  founded  digifit,  a  hub  that  provides  strategy  consulting  for  senior  executives,  in  2014.  She  helps  companies  grow  by  taking  
advantage of the opportunities offered by the digital, social and environmental transitions.  
A graduate of Sciences Po Paris and holder of a PhD in political science, she has taught strategy at Sciences Po Paris since 1990.  
Jessica Scale began her career in strategy consulting (at Bossard and PwC) working for key account clients in a wide rangeof industry sectors.  
In 2002, she moved into the tech sector, where she worked for major players, first as Transformation Director at IBM Global Services and then as  
Vice-President of Sales and Marketing at Unisys Europe, which she joined in 2005. She took on further international responsibilities in 2008,when  
she became Director of Global Outsourcing at Logica-CGI, where she was later appointed Global Client Director. As Director, France at Logica-CGI  
from 2010 to 2013, she also gained in-depth experience of issues connected with governance, ethics and labour relations.  
Jessica Scale has written numerous articles and books, including in particularBleu Blanc Pub: Trente Ans de Communication Gouvernementale en  
France, which remains a landmark work for anyone seeking to understand major public communication campaigns.  
She has long been involved in international entrepreneurship networks, with a particular focus on promoting women in business, and is keenly  
interested in the issue of the raison d’être of companies.  
Jessica Scale’s multicultural and operational experience dealing with digital, strategic and social issues at the international level enriches strategic  
thinking on Sopra Steria Group’s Board of Directors.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
HÉLÈNE BADOSA  
Director representing the employees  
Number of shares in the Company
owned personally: none
Member of the Compensation Committee  
Date of first appointment:Works Council meetings  
on 27-28/09/2018  
Date term of office began:23/09/2020  
Date term of office ends:General Meeting to  
approve the financial statements for the year ended  
31/12/2023  
p
Business address:  
Sopra Steria Group – 6 Avenue Kleber  
75116 Paris – France  
Nationality:French  
Age:62  
Appointments
Outside the
Group
Outside
France
Listed
company
Main positions and appointments currently held
Lead Engineer  
p
Member of the Board of Directors of the Traid-Union trade union  
p
Manager of two SCIs  
p
Other directorships and offices held during the last five years
Member of the Regional Economic Commission - SSG Auvergne-Rhône-Alpes  
p
SSG - Lyon’s employee representative affiliated with the Traid Union trade union  
p
Union representative with the Lyon and Aix-en-Provence CHSCT  
p
(Health, safety and working conditions commission)  
Biography  
Hélène Badosa has worked at Sopra Steria Group for over 20 years. Alongside her professional role, she has also long experience of employee  
representative bodies.  
With a master’s degree in information systems, Hélène Badosa began her career running a department at EDS’s data processing centre and went  
on to become a SAP ERP consultant.  
She joined Sopra Steria Group in 2001, heading up numerous engineering projects in France and abroad. She is currently a testing specialist for  
one of Sopra Steria’s key account clients. Thanks to her experience in a broad range of roles, she has in-depth knowledge of issues in the field and  
the technological environment.  
Keen to ensure that employees’ voices are heard amid the digital business transformation, Hélène Badosa has also held various corporate offices  
over the course of her career. As employee representative at EDS and subsequently Sopra Steria, trade union representative on the Lyon and  
Aix-en-Provence Health, Safety and Working Conditions Committees, member of the Auvergne-Rhône-Alpes Regional Economic Committee and  
member of the Board of Directors of Traid-Union, she is resolutely committed to employee representation. In particular, the tie-up between Sopra  
and Steria involved significant work with employees to ensure that the two companies’ cultures merged successfully.  
Hélène Badosa joined Sopra Steria’s Board of Directors in 2018 as Director representing the employees. She brings her vision as an employee with  
a keen eye for synergies between the company’s and employees’ development.  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
DAVID ELMALEM  
Director representing the employees  
Number of shares in the Company
owned personally: none
Business address:  
Sopra Steria Group – 37 Chemin des Ramassiers  
31770 Colomiers – France  
Date of first appointment:23/09/2020  
Date term of office began:23/09/2020  
Date term of office ends:General Meeting to approve  
the financial statements for the financial year ended  
31/12/2023  
Nationality:French  
Age:38  
Appointments
Outside the
Group
Outside France
Listed
company
Main positions and appointments currently held
Project leader  
p
Other directorships and offices held during the last five years
Not applicable  
p
Biography  
David Elmalem joined Sopra Steria Group in 2008.  
He successively served in testing, business analysis and project management roles as an integrator for complex air traffic control systems.  
David Elmalem holds an engineering degree from the ENAC civil aviation academy, and has a passion for aeronautics and new technologies.  
With a constant focus on putting the Group’s strategy into action, he has built up a dual set of business line and IT expertise that makes him  
highly attuned to the needs of aeronautics clients, helping them make their digital transformation a success. As an example, he took part in the  
SESAR (Single European Sky ATM Research) programme to modernise Europe’s air traffic management systems, coordinating input from major  
players in this field, including a number of Sopra Steria clients (such as Airbus, Thales and Eurocontrol).  
A true believer in putting people first, he takes a proactive role in the professional development of his team and his colleagues, leadsa community  
of aeronautics enthusiasts within his business unit, and is an impassioned advocate of digital services professions for engineering students.  
Elmalem joined Sopra Steria’s Board of Directors in 2020 as a Director representing the employees.  
He serves as a link between the employees and the Board of Directors, ensuring their voices are heard amidst an unprecedented economic and  
social situation.  
Owing to their professional experience as well as activities pursued  
outside the Company, the members of the Board of Directorshave  
all acquired expertise in the area of management and some of them  
also have gained expertise in the Company’s industry sector.  
been  incriminated  and/or  been  the  focus  of  an  official  public  
sanction issued by statutory or regulatory authorities, nor barred  
by  a  court  from  serving  as  a  member  of  a  supervisory  board,  
board  of  directors  or  other  management  body  of  an  issuer  or  
from  taking  part  in  the  management  or  conduct  of  an  issuer’s  
business affairs at any point during the past five years;  
p
In addition, to the best of the Company’s knowledge, none has:  
any conflict of interest affecting the exercise of his/her duties and  
p
been involved in any bankruptcy proceedings or been subject to  
property sequestration during the last five years as a member of a  
board of directors, a management body or a supervisory board.  
p
responsibilities;  
any  family  relationship  with  another  member  of  the  Board  of  
p
Directors, with the exception of Éric Pasquier, who is related to  
Pierre Pasquier;  
Furthermore, there are no service agreements binding the members  
of governing and management bodies to the issuer or to any one of  
its subsidiaries that provide benefits upon the termination of such  
agreements.  
any conviction during the last five years in relation to fraudulent  
p
offences;  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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Organisation and operation of governance  
certain decisions “that are highly strategic in nature or that are likely  
to  have  a  significant  impact  on  the  financial  position  or  
commitments  of  the  Company  or  any  of  its  subsidiaries”.  The  
internal rules and regulations are available on the Group’s website  
(Investors section).  
1.3. Preparation and organisation  
of the work of the Board  
of Directors  
1.3.1. REGULATORY FRAMEWORK GOVERNING
THE BOARD OF DIRECTORS, ITS ORGANISATION
AND ITS WORKING PROCEDURES
They  also  set  out  the  number,  purpose  and  composition  of  the  
committees tasked with preparing certain matters for the Board of  
Directors,  and  give  specific  provisions  for  its  three  standing  
committees, namely:  
The organisation and working procedures of the Board of Directors  
are governed by law, the Company’s Articles of Association and the  
Board’s  own  internal  rules.  Each  of  the  permanent  Board  
Committees has adopted its own charter approved by the Board of  
Directors setting forth how it should operate.  
the Audit Committee;  
p
the Nomination, Governance, Ethics and Corporate Responsibility  
p
Committee;  
the Compensation Committee.  
p
The  internal  rules  and  regulations  provide  that  the  Board  of  
Directors may create one or more ad hoc committees and that those  
committees may, in the performance of their respective duties and  
after having duly informed the Chairman, hear matters brought to  
them  by  the  Group’s  managers  and  use  the  services  of  external  
experts at the Company’s expense.  
a. Legal provisions  
The working procedures of the Board of Directors are governed by  
Articles L. 225-17  et  seq.  and  L. 22-10-2  et  seq.  of  the  French  
Commercial Code. The principal mission of the Board of Directors is  
to determine the strategic directions to be followed by the Company  
and to oversee their implementation.  
The internal rules and regulations also address the following issues:  
summary  of  powers  under  applicable  law  and  the  Articles  of  
Association,  meetings,  information  received  by  the  Board  of  
Directors,  training  of  members,  evaluation  of  the  Board,  travel  
expenses, confidentiality, Non-Voting Directors, social and economic  
council  representatives,  and  discretionary  and  other  ethical  
obligations, in particular regarding conflicts of interest, related-party  
agreements  or  stock  exchange  transactions.  A  procedure  for  
assessing routine agreements has been added as an appendix.  
b. Provisions in the Articles of Association  
The rules governing the organisation and procedures of the Board  
of  Directors  are  set  forth  in  Articles 14  to 18  of  the  Articles  of  
Association. The Articles of Association are available on the Group’s  
website (Investors section).  
c. Internal rules and regulations of the Board of Directors  
The internal rules and regulations of the Board of Directors were last  
amended on 22 October 2020. The purpose of the revision was to  
adapt  it  to  the  requirements  of  the  Pacte  Law,  those  of  the  Law  
simplifying company law and the latest changes to the AFEP-MEDEF  
corporate  governance  code,  as  well  as  the  decisions  made  by  the  
General Meeting of the Shareholders.  
1.3.2. MEETINGS OF THE BOARD OF DIRECTORS
a. Number of meetings held during the financial year  
An annual schedule is drawn up detailing the work of the Board.  
This schedule may be changed where justified by special events or  
deals.  The  Board  of  Directors  met  nine  times  in 2020,  of  which  
three meetings were not on the annual schedule, but were arranged  
to consider exceptional events (pandemic, cyberattack).  
The internal rules and regulations define the roles of the Board of  
Directors, its Chairman and the Chief Executive Officer, and specify  
the  conditions  for  the  exercise  of  their  prerogatives.  They  also  
provide that prior approval by the Board of Directors is required for  
b. Directors’ attendance  
Nomination, Governance,  
Ethics and Corporate  
Responsibility Committee  
Board of  
Directors Committee  
Audit  
Compensation  
Committee  
Financial year 2020  
Number of meetings  
Attendance rate  
9
99%  
7
93%  
7
8
98%  
100%  
The Board of Directors’ attendance rate in 2020 was 98%.  
No Director was absent from more than one Board meeting.  
responsibilities.  They  must  inform  the  Chairman  of  the  Board  of  
Directors  of  any  change  in  their  professional  situation  that  might  
affect their availability.  
In  accepting  their  appointments  as  Directors,  all  members  of  the  
Board of Directors agree to devote the time and attention necessary  
to  fulfil  their  duties.  Directors  are  required  to  be  present  at  every  
meeting of the Board of Directors as well as those of its committees  
on  which  they  serve,  unless  they  are  unable  to  attend  due  to  an  
emergency situation or other legitimate reason.  
The  Board  of  Directors  decided  in  February 2012  to  remove  the  
fixed portion of compensation required by Article L. 225-45 of the  
French  Commercial  Code.  In  accordance  with  the  policy  approved  
by the General Meeting, this compensation is allotted in full based  
on actual attendance at meetings of the Board of Directors and its  
committees.  
All Board members also agree to resign from their positions should  
they  feel  they  are  no  longer  able  to  fully  assume  their  
74  
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Organisation and operation of governance  
c. Items of business  
1.3.3. COMMITTEES OF THE BOARD OF DIRECTORS
The Board of Directors was kept regularly informed of the activities  
of  the  three  permanent  committees  through  reports  by  their  
respective Chairmen on the work performed between each meeting  
of the Board of Directors.  
a. The Audit Committee  
The  composition  and  functioning  of  the  Audit  Committee  are  
governed by the Board of Directors’ internal rules and regulations  
and  by  a  charter  that  is  reviewed  at  regular  intervals  by  the  
Committee  and  approved  by  the  Board  of  Directors  on  
26 July 2018.  
The main items of business in 2020 were:  
approval  of  the  financial  statements  for  the  year  ended  
p
31 December 2019;  
Its current members are:  
approval  of  the  interim  financial  statements  for  the  first  half  
of 2020;  
p
Marie-Hélène Rigal-Drogerys, Chairwoman (Independent  
Director);  
p
2020 budget;  
p
Michael Gollner (Independent Director);  
p
quarterly performance;  
p
Éric Pasquier;  
p
review of draft financial communications;  
p
Jean-François Sammarcelli (Independent Director).  
p
approval of management forecasts and corresponding reports;  
p
This  composition  provides  the  blend  of  financial  accounting  and  
knowledge of the business and its business lines that are crucial for  
the Committee’s work. Three of the four members have spent all or  
part  of  their  career  in  investment  banking,  lending,  including  as  
chief financial officer or as a Statutory Auditor and have developed  
expertise  in  finance  and  risk  management.  The  individual  skills  of  
each member of the Committee are set out in Section 1.2.4 Key  
skills required for the Board of Directors” of this chapter, pages 56  
to 57. Their professional experience is summarised in Section 1.2.8  
“Detailed presentation of the members of the Board of Directors” of  
this chapter, pages 60 to 73.  
review of the Audit Committee’s work and recommendations (in  
particular  those  concerning  the  financial  statements  and  the  
finance policy, internal control and risks, external audit);  
p
control of related-party agreements;  
p
continuation or removal of previously authorised agreements;  
p
authorisation  to  guarantee  commitments  by  subsidiaries  
controlled by the Group;  
p
the Group’s strategy;  
p
external growth transactions and business disposals;  
p
The Committee meets six times a year on average and in any event  
no  fewer  than  four  times  a  year.  They  generally  break  down  as  
follows:  
review of the recommendations of the Compensation Committee,  
p
in  particular  those  relating  to  the  compensation  policy  for  
company officers and the financial and non-financial criteriaused  
for  the  variable  portion  of  the  Chief  Executive  Officer’s  
compensation;  
two  meetings  to  review  the  interim  and  annual  financial  
p
statements, respectively;  
three meetings to monitor internal control and risk management  
systems and review internal audit;  
p
review  of  the  work  and  recommendations  of  the  Nomination,  
Governance, Ethics and Corporate Responsibility Committee, and  
in particular those concerning:  
p
one meeting to review external audit.  
p
the composition of the Board of Directors and its Committees  
(selection  and  appointment  of  new  Directors,  decisions  on  
reappointing  Directors  whose  term  of  office  is  expiring,  
composition of the committees),  
Without  prejudice  to  the  expertise  of  the  Board  of  Directors,  the  
Audit  Committee  elucidates  decisions  through  its  work  and  
recommendation and approves the provision of services other than  
the  certification  of  the  accounts.  It  submits  its  findings  and  
recommendations to the Board of Directors to inform the Board’s  
decisions.  
qualification of Independent Directors,  
the working procedures of the Board of Directors and changes  
to its internal rules and regulations,  
In the performance of its duties, the Committee may:  
receive any internal documentation necessary for its purposes;  
hear any person affiliated with or external to the Company;  
p
p
p
the  reduction  in  Directors’  terms  pursuant  to  the  Articles  of  
Association,  
the use of the findings of the formal self-assessment,  
where applicable, commission independent experts to assist it at  
the Company’s expense;  
the  training  arranged  for  the  newly  designated  Directors  
representing the employees;  
expedite an internal audit with the consent of the Chairman of  
the Board of Directors.  
p
the  company  policy  on  workplace  and  pay  equality  and  the  
targets  for  bringing  more  women  into  senior  management  
positions;  
p
The  Audit  Committee  Charter  gives  a  precise  definition  of  the  
Committee’s  remit  and  explicitly  states  the  principal  matters  
excluded  from  that  remit.  The  Committee’s  main  responsibilities  
include:  
the Group’s operational governance;  
p
p
the  notice  of,  and  the  preparations  and  participation  
arrangements  for  the  Combined  General  Meeting  on  9  June  
2020;  
financial statements and financial policy:  
p
overseeing  the  procedure  for  preparing  and  processing  
accounting and financial information,  
the  decision  not  to  pay  out  a  dividend  in  respect  of  the  2019  
financial year;  
p
reviewing  the  financial  statements  and  off-balance  sheet  
commitments,  
impact of the Covid-19 pandemic;  
p
p
monitoring  that  accounting  policies  have  been  applied  
consistently and are pertinent,  
information security. The cyberattack that targeted the Group in  
October 2020  was  discussed  at  a  special  meeting  in  December  
2020.  
reviewing financial policy;  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
internal control and risk:  
information about related party transactions,  
p
assessing  the  effectiveness  of  the  systems  put  in  place  by  
management to identify, assess, manage and control financial  
and non-financial risks,  
a plan to shorten the time taken to draw up and approve the  
financial statements for the financial year;  
with regard to monitoring the effectiveness of internal control  
and risk management procedures:  
monitoring  the  functioning  of  the  internal  control  and  risk  
management  system  with  respect  to  the  preparation  and  
processing of accounting and financial information,  
With regard to the Internal Control Department:  
p
review  of  the  organisation  and  work  by  the  department  in  
charge of internal control and risk management,  
monitoring  the  functioning  of  the  internal  control  and  risk  
management  system  with  respect  to  the  prevention  of  
corruption and influence peddling,  
three risk mapping exercises (overall exercise, mapping of the  
risk of corruption and influence peddling and mapping of risk  
relating to CSR risks – duty of vigilance),  
periodic review of the various risk mapping exercises, mapping  
of the risk of corruption and influence peddling and mapping  
of CSR risks,  
review of the presentation of risk exposure, including social and  
environmental  risks,  for  the  draft  2019  Universal  Registration  
Document,  
monitoring  internal  audit  and  associated  work,  particularly  as  
regards procedures relating to the preparation and processing  
of accounting, financial and non-financial information;  
monitoring  of  improvements  to  the  anti-corruption  system  
(Sapin II Law),  
external audit:  
p
monitoring of the update to the Group rules,  
managing the statutory audit of the financial statements by the  
Statutory Auditors,  
With regard to the Internal Audit Department:  
p
organisation  of  the  internal  audit  function  and  the  work  
programme for 2020,  
ensuring  compliance  with  requirements  for  the  independence  
of the Statutory Auditors,  
findings of internal audit reports,  
prior authorisation of non-audit services,  
the  “audit  universe”  (terminology  used  for  the  Group’s  key  
processes),  
issuing a recommendation to the Board of Directors concerning  
the  Statutory  Auditors  to  be  proposed  to  the  shareholders  at  
the General Meeting.  
checks  on  the  exhaustiveness  of  the  internal  audit  function’s  
coverage of the Group,  
The Committee met in person seven timesin 2020. The attendance  
rate for Committee members was 93%. All members were present  
at  the  two  meetings  preceding  the  review  of  the  financial  
statements  by  the  Board  of  Directors.  The  Statutory  Auditors,  the  
Chief Financial Officer and his deputy, the Director of Internal Audit  
and  the  Director  of  Internal  Control  are  invited  to  and  attend  all  
meetings as a matter of course.  
follow-up  on  implementation  of  recommendations  from  
internal and external audit assignments,  
significant changes in the Company’s legal environment,  
With regard to the consideration of non-financial risks:  
the  presentation  by  the  independent  third  party  in  charge  of  
the audit and the statement of non-financial performance;  
Its  meeting  on  the  annual  financial  statements  is  held  at  least  
twenty-four  hours  before  that  of  the  Board  of  Directors.  Prior  to  
that,  two  preparatory  sessions  are  held  to  address  issues  of  
methodology or specific points on the preparation and presentation  
of the financial statements as well as risk exposure, including social  
and environmental risks.  
with  regard  to  the  management  of  the  statutory  audit  of  the  
financial statements:  
p
statutory audit engagement (scope, work schedule, fees for the  
past year, budget),  
the independence of the Statutory Auditors,  
The main items of business in 2020 were as follows:  
prior  authorisation  for  services  other  than  the  certification  of  
the accounts;  
with  regard  to  monitoring  the  procedure  for  preparing  
accounting and financial information and financial policy:  
with regard to the Committee’s own organisation and activities:  
p
review  of  cash-generating  units  and  asset  impairment  testing  
for 2019,  
overview of the Audit Committee’s activities in 2019,  
key priorities for 2020,  
presentation  of  Sopra  Banking  Software  and  its  business  
(organisation and business model in particular),  
the annual work schedule.  
The  Statutory  Auditors  were  heard  by  the  Independent  Directors  
sitting  on  the  Committee,  with  no  members  of  management  in  
attendance. The same was true of the Director of Internal Audit. Éric  
Pasquier, CEO of Sopra Banking Software, abstained from attending  
these hearings reserved for independent Committee members.  
progress made on the Sparda project in Germany,  
approval  of  the  financial  statements  for  the  year  ended  
31 December 2019,  
presentation  by  the  Statutory  Auditors  of  the  results  of  the  
statutory  audit,  interim  reviews  and  the  accounting  options  
adopted,  
Minutes are prepared after every meeting and are then approved at  
the beginning of the following meeting.  
review of the 2020 interim financial statements,  
When  requests  by  the  Audit  Committee  cannot  be  satisfied  
immediately,  they  are  subject  to  a  formal  follow-up  procedure  in  
order  to  ensure  that  they  are  addressed  in  full  at  the  various  
meetings scheduled throughout the year. Ten specific requests were  
formulated  using  this  approach  in 2020  and  were,  or  will  be,  
added  to  the  meeting  agendas  established  on  the  basis  of  the  
Committee’s annual work plan.  
the  Group’s  credit  lines  (amount  of  guaranteed  credit  lines,  
maturity, monitoring of covenants),  
off-balance  sheet  commitments  and  guarantees  given  under  
the delegated authority of the Board of Directors,  
a guarantee granted to UK pension funds,  
76  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
b. The Nomination, Governance, Ethics and Corporate  
Responsibility Committee  
for  in  French  law  no. 2016-1691  of  9 December  2016  on  
transparency,  the  fight  against  corruption  and  modernisation  
of business life are all fit for purpose;  
The composition and functioning of the Nomination, Governance,  
Ethics and Corporate Responsibility Committee are governed by the  
Board’s  internal  rules  and  regulations  and  by  a  charter  that  is  
reviewed at regular intervals by the Committee and was approved  
by the Board of Directors on 25 February 2021. Its current members  
are:  
assessing  Company  policy  on  sustainable  development  and  
corporate responsibility and its alignment with the Sopra Steria  
Group’s  commitments  to  human  rights,  international  labour  
standards,  the  environment  and  the  fight  against  
anti-corruption,  
Kathleen Clark Bracco, permanent representative of Sopra GMT –  
Chairwoman;  
ensuring  that  the  Company  has  implemented  an  
anti-discrimination and diversity policy:  
p
Éric Hayat;  
preparing  for  the  Board  of  Directors’  annual  review  of  the  
Company’s policy on workplace and pay equality;  
p
Noëlle Lenoir (Independent Director);  
p
reviewing Executive Management’s proposed objectives, action  
plan and arrangements for increasing the proportion of women  
in senior management positions and tracking progress.  
Pierre Pasquier;  
p
Jean-Luc Placet (Independent Director);  
p
Jean-François Sammarcelli (Independent Director);  
p
The Committee met seven times in 2020, with an attendance rate  
of 100%. Items of business included:  
Jessica Scale (Independent Director).  
p
The  Chairman  of  the  Board  of  Directors  sits  on  the  Nomination,  
Governance,  Ethics  and  Corporate  Responsibility  Committee.  The  
Committee  hears  the  Chief  Executive  Officer  on  the  items  of  
business as necessary.  
concerning appointments and governance:  
p
members  of  the  Board  of Directors  (see  Section 1.2.3  
"Selection process"),  
the  search  for  new  Directors  and  proposals  to  reappoint  
Directors whose terms of office are nearing their end in 2020,  
The  Committee  has  no  decision-making  powers  of  its  own,  but  
rather  submits  its  findings  and  recommendations  to  the  Board  of  
Directors in support of the Board’s decisions. In the performance of  
its duties, the Committee may:  
composition  of  the  committees  and  in  particular  the  
participation of Directors representing employees on specialist  
Board committees,  
receive any internal documentation necessary for its purposes;  
p
the  results  of  the  formal  assessment  process  of  the  Board  of  
Directors and its committees,  
hear any person affiliated with or external to the Company;  
p
where  applicable,  retain  the  services  of  independent  experts  at  
p
organisation and effectiveness of the Group’s governance and  
annual  review  of  the  plan  for  unforeseen  departures  by  the  
Chairman  of  the  Board  of  Directors  and  the  Chief  Executive  
Officers,  
the Company’s expense to assist it.  
The Committee’s main responsibilities are as follows:  
Nominations and governance:  
p
verification  of  Company  compliance  with  the  AFEP-MEDEF  
Code,  
selecting  and  preparing  appointments  of  members  of  the  
Board of Directors and executive company officers,  
qualification of Independent Directors,  
proposing  and  managing  changes  it  deems  beneficial  or  
necessary  to  the  procedures  or  composition  of  the  Board  of  
Directors,  
changes  to  the  internal  rules  and  regulations  of  the  Board  
of Directors,  
carrying  out  the  annual  review  of  the  plan  for  unforeseen  
departures by the Chairman of the Board of Directors and the  
Chief Executive Officer,  
the  draft  rules  for  designating  the  Director  representing  the  
employee shareholders,  
changes to the rules (charter) of the Committee to state that, in  
the  event  of  a  split  vote,  the  Independent  Directors  cast  the  
deciding vote;  
evaluating  the  Board  of  Directors  and  the  effectiveness  of  
corporate governance,  
verifying  that  good  governance  rules  are  applied  at  the  
Company and its subsidiaries,  
concerning ethics and corporate responsibility:  
p
the Company’s policy on workplace and pay equality, and the  
diversity policy,  
assessing  whether  Board  members  may  be  deemed  
independent in view of deliberations by the Board of Directors  
on this subject;  
the  targets  for  increasing  the  proportion  of  women  in  senior  
management  positions,  together  with  the  action  plan  and  
measures proposed by Executive Management;  
Business ethics and corporate responsibility:  
p
verifying  that  the  Group’s  values  are  observed,  defended  and  
promoted by its company officers, executives and employees,  
the  testimony  given  by  the  Sustainable  Development  Director  
on the “zero net emissions” target by 2028 set by the Group;  
checking  that  there  are  rules  of  conduct  which  address  
competition and ethics,  
the anti-corruption framework introduced by the Company and  
how it performed during the past year;  
ensuring  that  the  anti-corruption  framework  operates  
effectively and that the Company’s Code of Conduct, training,  
whistleblowing framework and disciplinary system as provided  
review of the draft Universal Registration Document for 2019.  
Minutes are prepared after every meeting and are then approved at  
the beginning of the following meeting.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
77
3
CORPORATE GOVERNANCE  
Organisation and operation of governance  
c. The Compensation Committee  
compensation policy for members of the Board of Directors;  
review of the fairness ratio;  
p
p
p
The composition and functioning of the Compensation Committee  
are governed by the Board’s internal rules and regulations and by a  
charter that is reviewed at regular intervals by the Committee and  
was approved by the Board of Directors on 25 February 2021. Its  
current members are:  
expiry of a long-term incentive plan based on performance shares  
and determination of targets for similar plans currently in force;  
the review of the draft Registration Document for 2019 and in  
particular the draft report on corporate governance;  
p
p
Jean-Luc Placet, Chairman (Independent Director);  
p
apportionment of compensation referred to in Article L. 225-45  
of the French Commercial Code in respect of financial year 2019.  
Hélène Badosa (Director representing the employees);  
p
Kathleen Clark Bracco, permanent representative of Sopra GMT;  
p
1.3.4. ORGANISATION AND ASSESSMENT
OF THE BOARD OF DIRECTORS
Éric Hayat;  
p
Sylvie Rémond (Independent Director);  
p
a. Access to information for members of the Board  
of Directors  
Jessica Scale (Independent Director).  
p
The  Committee  has  no  decision-making  powers  of  its  own,  but  
rather  submits  its  findings  and  recommendations  to  the  Board  of  
Directors in support of the Board’s decisions.  
Dissemination of information – preparatory materials  
Article 4 of the internal rules and regulations states:  
“each member of the Board shall receive all information required  
p
In the performance of its duties, the Committee may:  
in  the  performance  of  his  mission  and  is  authorised  to  request  
any documents deemed pertinent;  
receive any internal documentation necessary for its purposes;  
p
hear any person affiliated with or external to the Company;  
p
in  advance  of  each  meeting  of  the  Board,  a  set  of  preparatory  
p
where  applicable,  retain  the  services  of  independent  experts  at  
the Company’s expense to assist it.  
materials shall be addressed to members presenting the items on  
the  agenda  requiring  special  analysis  and  preliminary  reflection,  
provided that confidentiality guidelines allow the communication  
of this information;  
p
The Committee’s main responsibilities are as follows:  
recommend  to  the  Board  of  Directors  compensation  policies  
applicable to company officers;  
p
the  members  of  the  Board  shall  also  receive,  in  the  intervals  
p
between  meetings,  all  pertinent  and  critical  information  
concerning  events  or  operations  that  are  significant  for  the  
Company.  This  information  shall  include  copies  of  all  press  
releases disseminated by the Company”.  
verifying the application of rules determined for the calculation of  
variable components of compensation;  
p
where  applicable,  offering  recommendations  to  Executive  
Management  on  the  compensation  of  the  company’s  principal  
executives;  
p
The members of the Board of Directors receive a monthly summary  
report  on  Sopra Steria  Group’s  share  performance.  This  report  
describes and analyses developments in the share price and trading  
volumes, putting them into perspective by highlighting main trends  
in  macroeconomic  data  and  financial  markets  as  well  as  
comparisons with the main comparable companies.  
obtaining an understanding of pay policy and ensuring that this  
policy  is  in  line  with  the  Company’s  interests  and  enables  it  to  
reach its objectives;  
p
preparing  decisions  related  to  employee  share  ownership  and  
p
employee savings plans;  
Board members receive all press releases intended for investors and  
are  invited  to  the  presentations  of  the  Company’s  full-year  and  
half-year results.  
preparing the policy for awarding performance shares;  
p
verifying  the  quality  of  the  information  communicated  to  
p
They are also invited to the beginning-of-the-year meeting held for  
Group management and receive certain internal publications.  
shareholders  concerning  compensation,  benefits  in  kind,  and  
options  received  by  executive  company  officers,  and  
compensation  in  accordance  with  Article L. 225-45  of  the  
French Commercial Code.  
Dedicated electronic platform for Directors  
An  electronic  platform,  based  on  Axway  Software’s  Syncplicity  
solution, is used to provide secure access to documentation on all  
types of devices: computers, tablets and smartphones. Members of  
the Board of Directors can view or download items made available  
for them or upload their own items for sharing or storage within  
this environment. This platform was set up following the findings of  
the  formal  assessment  of  the  Board  of  Directors  undertaken  in  
2016.  Its  installation  was  possible  thanks  to  the  availability  of  a  
high-performance cloud solution managed by the Group’s technical  
staff  and  offering  a  sufficiently  robust  guarantee  that  the  data  
stored  would  not  be  accessible  to  any  unauthorised  persons,  
including technical staff.  
The Committee hears the executive company officers at the start of  
its meetings for general information and on each item of business  
as necessary.  
Minutes are prepared after every meeting and are then approved at  
the beginning of the following meeting.  
The Committee met eight times in 2020, with an attendance rate  
of 98%. Items of business included:  
compensation policy of the Chairman of the Board of Directors;  
p
the Chief Executive Officer’s compensation policy and in particular  
p
criteria and targets associated with his variable compensation;  
the  recommendations  to  the  Board  of  Directors  concerning  
p
variable  compensation  paid  to  the  Chief  Executive  Officer  in  
respect of financial year 2019;  
78  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Organisation and operation of governance  
Additional information at meetings  
All Chairmen of Board Committees are members of the IFA (French  
Institute of Directors), as is the Secretary of the Board of Directors.  
The Chief Executive Officer and the Chief Financial Officer are invited  
to  Board  meetings,  subject  to  certain  exceptions.  Thanks  to  their  
participation,  additional  information  that  may  be  useful  to  
discussions  is  made  available.  They  do  not  take  part  in  the  
consideration of matters that involve the Chief Executive Officer.  
b. Preventing conflicts of interest  
Duty of disclosure and abstention  
Members of the Board of Directors must inform the Board of any  
current  or  potential  conflicts  of  interest  in  which  they  could  be  
directly or indirectly involved.  
Depending on the items of business before a given Board meeting,  
other operational managers or outside consultants may be invited  
to attend. This is the case, in particular, for strategic presentations  
and discussions of external growth transactions.  
Pursuant  to  the  recommendations  laid  down  in  the  AFEP-MEDEF  
Code, the internal rules and regulations state that members of the  
Board of Directors facing an actual or potential conflict of interest  
must not participate in associated decision-making. Naturally, they  
are not present at and do not take part in any related vote.  
Training  
Article 5 of the internal rules and regulations states: “Any member  
of the Board may, on the occasion of his/her appointment or at any  
point  during  his  term  in  office,  engage  in  training  he/she  feels  is  
necessary for the performance of his duties”.  
Control of related-party agreements  
Monitoring  of  related-party  agreements  is  governed  by  law,  the  
Company’s  Articles  of  Association  and  the  Board’s  own  internal  
rules. Proposed new agreements are reviewed prior to being signed.  
In addition, the Board of Directors is called upon at the beginning  
of each year to review the purpose and application of agreements  
set to continue to run, in order to assess whether they still meet the  
criteria on which their initial approval was based.  
Following  the  appointment  of  the  Directors  representing  the  
employees,  a  specific  training  plan  was  implemented  to  orientate  
new Directors. The content and format of this orientation training  
was approved by the Board of Directors after consultation with the  
individuals concerned and with the Nomination, Governance, Ethics  
and Corporate Responsibility Committee.  
In 2020, two Directors availed themselves of the option to receive  
training either on taking up office or during their terms of office.  
These training sessions were delivered by the company or external  
organisations, depending on Directors’ requests.  
No new agreements were authorised during financial year 2020.  
Tripartite agreement between  
Sopra GMT, Sopra Steria Group  
and Axway Software  
Nature  
Éric Hayat Conseil  
Subject  
Advisory and assistance services in the  
areas of strategy, finance and control  
Business development advisory  
and assistance services to Executive  
Management (strategic operations)  
Detailed description  
§1.1.4  
€139K  
€1,214K  
Pierre Pasquier, Éric Pasquier,  
Kathleen Clark Bracco  
§1.1.6  
€0K  
€209K  
Éric Hayat  
Income (financial year ended)  
Expense (financial year ended)  
Persons concerned  
Agreement already approved at a General Meeting  
Yes  
Yes  
Monitoring of routine agreements entered into at arm’s length  
At  its  meeting  on  20  February  2020,  the  Board  of  Directors  
unanimously  agreed  to  downgrade  the  current  agreement  that  
nowrelates only to the domiciliation in Annecy of Axway Software in  
the  amount  of  €13K.  Sopra  Steria  Group  SA  hosts  most  of  
theGroup’s  French  companies  (including  Sopra  Banking  Software,  
Sopra  HR  Software  and  I2S)  and  invoices  them  for  lease  
costsaccording to the surface area they use. The same applies to the  
lease granted to Axway Software under market conditions.  
At its meeting of 24 October 2019, the Board of Directors voted, at  
the recommendation of the Audit Committee, to adopt a procedure  
for  regularly  assessing  whether  agreements  pertaining  to  routine  
transactions entered into at arm’s length meet the necessary criteria.  
In particular, this procedure provides for the following:  
arrangements for identifying agreements subject to prior review  
p
by the Board of Directors;  
The Statutory Auditors’ special report on related-party agreements is  
included in full at the end of Chapter 6 - 2020 Parent Company  
Financial  Statements”  of  this  Universal  Registration  Document  
(pages 262 to 263).  
the assessment by the Board of Directors of agreements that have  
p
not  been  subject  to  such  controls   any  persons  directly  or  
indirectly affected by such an agreement may not take part in this  
assessment.  
The Board adopted the principle of an annual assessment, with the  
first  such  assessment  undertaken  at  its  meeting  of  20 February  
2020.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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Organisation and operation of governance  
c. Assessment of the Board of Directors  
and its committees  
ascertain the quality of the information made available to Board  
members  and  their  level  of  satisfaction  with  the  responses  
provided to their questions and the handling of their requests;  
p
p
p
In accordance with the recommendations of the AFEP-MEDEF Code  
in this area:  
identify potential opportunities for improvements relating to the  
work procedures and encompassing all aspects, from the annual  
work schedule to the minutes of meetings;  
each  year,  at  least  one  discussion  by  the  Board  of  Directors  is  
p
devoted  to  its  operating  procedures  and  ways  in  which  they  
might be improved;  
evaluate  the  preparation  of  discussions  by  the  Board’s  
committees and the contribution of their work to the quality of  
exchanges at Board meetings;  
at  least  every  three  years,  a  formal  assessment.  The  Board  of  
p
Directors thus conducted a formal assessment of its operations at  
end-2019,  led  by  the  Nomination,  Governance,  Ethics  and  
Corporate  Responsibility  Committee.  The  previous  such  
assessment took place in 2016.  
Once  the  Board  had  approved  the  questionnaire  and  analysed  
individual responses, an overview of the findings was examined and  
discussed  by  the  Nomination,  Governance,  Ethics  and  Corporate  
Responsibility  Committee.  The  Committee  also  discussed  an  
overview  of  its  own  self-assessment  and  the  concurrent  
self-assessment  undertaken  by  the  Compensation  Committee.  It  
reported on its work to the Board of Directors at the Board meeting  
of 20 February 2020.  
The  Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee  proposed  that  the  Board  of  Directors  proceed  with  a  
self-assessment  based  on  a  questionnaire,  with  responses  to  be  
collected anonymously. To this end, the Committee drew up a draft  
questionnaire containing 35 items divided into five sections:  
The Audit Committee has conducted its own self-assessment for a  
number of years using a questionnaire that covers its composition  
and its working procedures, the way in which its work is organised  
and its ability to fulfil its responsibilities. The Committee compares  
its procedures with the best practices established by similar bodies  
in other companies. Lastly, it familiarises itself with any changes in  
the regulatory environment. It takes into account the conclusionsof  
this work to improve its own working procedures.  
members of the Board of Directors;  
p
information provided to Directors;  
p
meeting procedures and content;  
p
relations between the Board of Directors and its committees;  
p
assessment of individual contributions.  
p
In particular, the aims of this questionnaire were to:  
evaluate to what extent the composition of the Board of Directors  
p
Self-assessment  by  the  Board  of  Directors  and  its  committees  has  
identified  opportunities  for  improvement,  notably  relating  to  its  
composition,  information  provided  to  members  of  the  Board  of  
Directors,  particularly  between  meetings,  minutes  of  the  
committees’ work, and more in-depth work on key environmental  
issues  by  the  committee  tasked  with  overseeing  corporate  
responsibility. Practical solutions were found to the areas requiring  
improvement that had been identified. These were then presented  
to  the  Board  of  Directors,  which  approved  them.  The  process  
concluded with a meeting on 20 October 2020.  
actually represents all shareholders and allows it to fulfil its role  
and responsibilities efficiently. The questionnaire also focused on  
the  Directors’  contributions  to  meetings,  their  complementarity,  
independence  and  level  of  commitment,  as  well  as  their  
understanding  of  the  Company’s  business  activities,  and  the  
manner  in  which  they  update  and  refresh  their  skills  and  
knowledge;  
80  
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Compensation policy  
2.
Compensation policy  
for the financial year. It holds a further meeting with the Chairman  
of the Board of Directors to discuss potential qualitative targets.  
2.1. Policy outline  
Compensation policy applicable to company officers is determined  
by the Board of Directors. While paying particular attention to the  
stability  of  the  principles  used  to  determine  and  structure  
compensation for executive company officers, the Board of Directors  
re-examines  their  compensation  packages  on  an  annual  basis  to  
verify their fit with the Group’s requirements. It is supported by the  
Compensation  Committee,  which  helps  the  Board  prepare  for  
decisions.  
The  Compensation  Committee  then  presents  its  recommendations  
to  the  Board  of  Directors,  which  discusses  them  and  makes  
decisions  without  the  interested  parties  in  attendance.  These  
recommendations  relate  to  the  Chief  Executive  Officer’s  variable  
compensation  for  the  previous  financial  year,  fixed  compensation  
payable to the Chairman of the Board of Directors, and the Chief  
Executive Officer’s fixed and variable compensation for the current  
financial  year.  These  recommendations  are  generally  presented  at  
the  same  time  as  recommendations  on  long-term  incentive  plans  
aimed  at  management,  up  to  now  including  the  Chief  Executive  
Officer,  employee  share  ownership  schemes  and,  as  the  case  may  
be,  proposed  additional  incentive  payments  put  forward  by  
Executive  Management.  The  Committee  also  presents  its  
observations on the apportionment of the compensation referred to  
in Article L. 225-45 of the French Commercial Code and, whereit  
deems necessary, proposes adjustments to existing rules. The total  
amount of the compensation referred to in Article L. 225-45 of the  
French Commercial Code subject to approval by the shareholders is  
agreed  when  the  Board  of  Directors  meets  to  prepare  for  the  
General Meeting of Shareholders.  
The  Board  of  Directors  considers  that  applying  the  compensation  
recommendations  laid  down  in  the  AFEP-MEDEF  Corporate  
Governance Code protects the Company’s interests and encourages  
executives’  contribution  to  business  strategy  and  the  Company’s  
long-term success.  
The work of the Compensation Committee continues throughout a  
cycle of preparatory meetings that run from the final quarter of the  
previous  financial  year  to  the  first  quarter  of  the  current  financial  
year. In general, three meetings are either wholly or partly dedicated  
to this work, though sometimes as many as five such meetings may  
be  held.  Preparing  recommendations  on  the  Chief  Executive  
Officer’s  annual  variable  compensation  and  long-term  incentive  
plans  takes  up  the  most  time  due  to  the  need  to  determine  the  
associated performance conditions.  
As  regards  variable  compensation,  the  Compensation  Committee  
proposes the quantifiable criteria to be taken into account together  
with  any  qualitative  criteria,  as  the  case  may  be.  It  makes  certain  
that the criteria adopted are mainly quantifiable and that criteria are  
precisely  defined.  As  regards  quantifiable  criteria,  it  generally  
determines  a  threshold  below  which  variable  remuneration  is  not  
paid, a target level at which 100% of compensation linked to the  
criterion in question becomes payable and, as the case may be, an  
upper  limit  where  there  is  the  possibility  that  a  target  may  be  
exceeded.  Performance  is  assessed  by  comparing  actual  
performance with the target broken down into thresholds, targets  
and upper limits, as the case may be.  
The  Board  of  Directors  generally  discusses  the  strategic  approach  
over  the  same  period;  since  2019,  this  discussion  has  taken  into  
account  social  and  environmental  issues  associated  with  the  
Company’s business. For the past several years, the Group has been  
pursuing an independent, value-creating plan that combines growth  
and  profitability.  Priorities  are  adjusted  each  year  based  on  the  
current state assessment undertaken at the end of the previous year.  
The Committee reviews the current compensation policy applicable  
to company officers. It is then informed of estimates of how far the  
Chief Executive Officer has achieved his targets. These forecasts are  
refined in the course of the Committee’s various meetings. At the  
beginning of the year, the Compensation Committee determines the  
extent to which quantifiable targets set for the previous year have  
been achieved and assesses the achievement of qualitative targets.  
To this end, it meets with the Chairman of the Board of Directors  
and  familiarises  itself  with  any  information  that  might  be  used  in  
this assessment.  
Long-term incentive plans are based on awarding rights to shares.  
They are subject to the condition of being with the company over a  
period of time and performance conditions meeting targets set in  
the same way as for variable compensation.  
Independently of the compensation policy, the company covers or  
reimburses  company  officers’  travel  expenses  (transportation  and  
accommodation).  
The  Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee and the Compensation Committee have four members  
in  common,  enabling  the  Compensation  Committee  to  take  the  
work and assessments of the Nomination, Governance, Ethics and  
Corporate Responsibility Committee into account as it carries out its  
own work.  
The Committee also takes into consideration the Group’s pay policy  
and  decisions  on  fixed  and  variable  compensation  payable  to  the  
members of the Group Executive Committee. It takes into account  
comparisons with other companies made available to it. However,  
sector  consolidation  has  significantly  reduced  the  number  of  
companies allowing for a direct and relevant comparison.  
The  procedure  for  determining  compensation  policy  applicable  to  
company officers and the timing of that procedure are intended to  
ensure that all worthwhile information is taken into account when  
recommendations are drawn up and when the Board of Directors  
makes its final decision, so as to ensure that those decisions are as  
coherent as possible and aligned with the Company’s strategy.  
The  Committee  also  looks  at  steps  that  could  be  taken  to  give  
employees  a  stake  in  the  company’s  financial  performance  and,  
where applicable, considers the implementation of employee share  
ownership  plans  and/or  long-term  incentives  aimed  at  the  
Company’s  and  its  subsidiaries’  management.  The  Board  of  
Directors  considers  that  employee  and  executive  share  ownership  
makes a lasting contribution to the company’s longstanding priority  
focus  on  independence  and  value  creation  by  ensuring  that  
employees’ and executives’ interests are fully aligned with those of  
the company’s shareholders.  
The  compensation  policy  applies  to  newly  appointed  company  
officers.  However,  in  exceptional  circumstances,  notably  to  enable  
new  executive  company  officers  to  be  appointed,  the  Board  of  
Directors  may  temporarily  waive  application  of  the  compensation  
policy,  in  keeping  with  the  interests  of  the  company  and  where  
necessary  to  secure  the  company’s  long-term  success  or  viability.  
This option may only be adopted if there is a consensus within the  
Board  of  Directors  over  the  decision  to  be  made  (i.e. no  votes  
When  the  Board  of  Directors  reviews  the  budget  for  the  current  
financial  year,  the  company’s  numerical  targets  are  a  known  
quantity.  The  Compensation  Committee  takes  them  into  account  
when determining the Chief Executive Officer’s quantifiable targets  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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Compensation policy  
against), and may result in items of compensation not laid down in  
the  compensation  policy  being  awarded,  though  any  such  items  
would  be  subject  to  ex  post  approval  at  the  following  General  
Meeting of Shareholders.  
Note that application of the compensation policy and the payment  
of variable and exceptional components of compensation pursuant  
to  this  policy  is  subject  to  shareholder  approval  at  an  Ordinary  
General Meeting.  
2.2.1. COMPENSATION OF THE CHAIRMAN
OF THE BOARD OF DIRECTORS
2.2. Executive company officers  
The Compensation Committee made recommendations concerning  
the compensation policy for executive company officers, which was  
reviewed by the Board of Directors at its meeting on 25 February  
2021.  
Financial year 2021 and following  
The  Board  of  Directors  decided,  on  the  recommendation  of  the  
Compensation  Committee,  not  to  make  any  changes  to  the  
compensation  policy  applicable  to  the  Chairman  of  the  Board  of  
Directors, or to his annual fixed compensation.  
COMPENSATION OF THE CHAIRMAN OF THE BOARD OF DIRECTORS  
Items of compensation  
Comments  
Annual fixed compensation  
Determination  by  the  Board  of  Directors,  acting  on  
recommendation by the Compensation Committee  
a
Annual variable compensation  
Variable deferred compensation  
Multi-year variable compensation  
Deferment periods; option of asking for variable compensation to be  
returned  
Not applicable  
Not applicable  
Not applicable  
Not applicable  
Exceptional compensation  
Possible,  by  decision  of  the  Board  of  Directors,  but  contingent  
upon very specific circumstances with substantial consequences on  
the role and activity of the Chairman of the Board of Directors  
Payment  subject  to  shareholder  approval  of  all  items  of  
compensation  at  an  Ordinary  General  Meeting  and  in  all  
circumstances capped at 100% of annual fixed compensation  
Share options, performance shares and any other long-term items of  
compensation  
Not applicable  
Compensation referred to in Article L. 22-10-14 of the French  
Commercial Code  
Application of Directors’ compensation policy  
Any other benefits  
Severance pay/benefit payable upon change of duties  
Non-compete payment  
Company car  
Not applicable  
Not applicable  
Not applicable  
Supplementary pension plan  
2.2.2. COMPENSATION PAID TO THE CHIEF EXECUTIVE OFFICER
Financial year 2021 and following  
The Board of Directors decided, on the recommendation of the Compensation Committee, not to make any changes to the Chief Executive  
Officer’s annual fixed compensation.  
At present, the guidelines for the structure of the Chief Executive Officer’s annual variable compensation, as determined by the Board of  
Directors, are as follows:  
Criteria  
Type  
% of AVC*  
% of AFC*  
One or more targets  
One or more targets  
Quantifiable  
Qualitative  
75%  
25%  
45%  
15%  
TOTAL
100%
60%
*
AVC: annual variable compensation; AFC: annual fixed compensation.  
The increase in the weighting of qualitative targets in the variable compensation of the Chief Executive Officer (changed from 10% to 25%)  
resulted from the wish to increase the share of medium-term targets, whether these related to the social and environmental implications of  
the Group’s business activities or its organisation and strategy.  
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Compensation policy  
For 2021, the targets associated with the variable compensation of the Chief Executive Officer were approved as follows:  
Criteria  
Type  
% of AVC*  
% of AFC*  
Operating margin on business  
activity  
Organic revenue growth  
Quantifiable  
Quantifiable  
45.0%  
30.0%  
27.0%  
18.0%  
Subtotal: Quantifiable criteria  
75.0%  
45.0%  
Implementation of leadership  
structure and application of key  
Group policies  
Qualitative  
10.0%  
6.0%  
Progress towards meeting the  
target of increasing the proportion  
of women in senior management  
positions by 2025  
Progress towards meeting the  
target of zero net emissions  
by 2028  
Qualitative  
Qualitative  
7.5%  
4.5%  
7.5%  
4.5%  
Subtotal: Qualitative criteria  
TOTAL
25.0%  
15.0%  
100.0%
60.0%
*AVC: Annual variable compensation; AFC: Annual fixed compensation  
The specific quantifiable target values are not disclosed in advance  
for confidentiality reasons and so as not to interfere with financial  
communications.  Targets  are  set  at  levels  that  are  designed  to  be  
both demanding and motivating. They aim to help the Group meet  
– and if possible exceed – its targets.  
long-term incentive plan in 2021 or 2022, under the authorisation  
to be requested at the General Meeting of 26 May 2021, based on  
awarding performance shares to management. Except in response  
to  a  necessity  relating  to  the  situation  of  the  Group  or  its  
environment,  on  which  the  Board  of  Directors  would  provide  a  
report, any new plan decided upon during the year would have the  
same features as the previous plans, with the potential addition of a  
target  related  to  corporate  social  responsibility.  The  weighting  of  
such  a  criterion,  should  it  be  decided  to  introduce  a  new  one,  
would not exceed 10% of the total.  
Based on the targets adopted, an amount equivalent to 60% of the  
annual  fixed  compensation  cannot  be  exceeded.  Even  so,  in  the  
event  of  an  outstanding  performance  relative  to  the  quantifiable  
targets,  the  Board  of  Directors  may,  after  consulting  the  
Compensation  Committee,  authorise  the  integration  of  targets  
being  exceeding,  subject  to  the  cap  on  annual  variable  
compensation set at 100% of annual fixed compensation. Effective  
payment of the Chief Executive Officer’s variable compensation will,  
in  any  event,  be  subject  to  shareholder  approval  at  an  Ordinary  
General Meeting.  
The  performance  share  plans  put  in  place  by  the  Group  in  2016,  
2017 and 2018 all had the following features in common:  
for all recipients, the granting of shares was subject to continued  
p
employment  at  the  end  of  the  three-year  vesting  period.  
However, this condition could be waived in whole or in part, in  
derogation  of  the  foregoing  and  on  an  exceptional  basis  (in  
practice fewer than 2% of departures);  
Conversely,  the  Board  of  Directors  may  consider  that  the  Group’s  
performance does not merit payment of variable compensation in  
respect of the financial year in question, irrespective of the extent to  
which  any  qualitative  targets  may  have  been  achieved.  In  such  
cases,  it  proposes  to  the  shareholders  that  no  variable  
compensation be paid in respect of that financial year.  
achievement  of  the  performance  condition  was  measured  by  
p
calculating  the  average  annual  target  achievement  rates,  with  
each  of  the  criteria  given  an  equal  weighting;  the  three  criteria  
related to organic consolidated revenue growth, operating profit  
on business activity (expressed as a percentage of revenue) and  
free cash flow;  
Lastly,  in  exceptional  circumstances  (e.g. in  the  event  of  an  
exogenous shock), if the Group’s results were such that the normal  
system  of  variable  compensation  for  employees  and  Executive  
Committee  members  needed  to  be  suspended,  the  Compensation  
Committee would review the situation of the Chief Executive Officer  
and  could,  as  the  case  may  be,  recommend  to  the  Board  of  
Directors  that  it  ask  the  shareholders  at  the  General  Meeting  to  
approve an improvement to his variable compensation if that would  
serve the Company’s interests.  
strict  targets  were  set  over  the  entire  plan  period  (the  year  of  
p
allotment  and  the  two  following  years).  These  targets  were  at  
least  equal  to  any  publicly  disclosed  guidance  or,  for  targets  
expressed as a range, at least the minimum level of the guidance  
range disclosed; the target achievement rate for each of the three  
plans was 66.1%, 63.5% and 63.5%, respectively;  
The Chief Executive Officer, Vincent Paris, was subject to the same  
p
The  Compensation  Committee  formulated  its  recommendation  to  
the Board of Directors in consideration of the strategy, the Group’s  
circumstances  and  the  goal  of  boosting  its  performance  and  
competitiveness over the medium to long term. It also focused on  
driving  the  Group’s  transformation  and  taking  into  account  the  
social  and  environmental  implications  of  its  business  activities  
through qualitative targets.  
rules as all the other recipients under these plans. However, the  
Board of Directors decided that he must retain at least 50% of  
the vested shares allocated to him under these plans throughout  
his entire term of office;  
Vincent Paris agreed not to hedge any performance shares until  
the applicable holding period had expired.  
p
At  the  present  time,  the  Compensation  Committee  is  evaluating  
whether it might be possible and appropriate to put in place a new  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Compensation policy  
COMPENSATION OF THE CHIEF EXECUTIVE OFFICER (PRINCIPLES ALSO APPLICABLE FOR ANY DEPUTY CHIEF EXECUTIVE  
OFFICERS)  
Items of compensation  
Comments  
Annual fixed compensation  
Determination by the Board of Directors, acting on a recommendation  
by the Compensation Committee (taking into account the responsibilities held,  
experience, plus internal and external benchmarking)  
Annual variable compensation  
Amount:  
60% of annual fixed compensation if objectives are met  
p
capped at 100% of annual fixed compensation  
p
p
criteria:  
75% based on one or more quantifiable objectives  
25% based on meeting one or more precisely defined qualitative objectives  
consistent with the Group’s strategy and organisation, its corporate  
responsibility policy and/or the assessment of the company officer’s  
performance  
payment subject to shareholder approval of all items of compensation  
at an Ordinary General Meeting  
p
Variable deferred compensation  
Multi-year variable compensation  
Deferment periods; option of asking for variable  
compensation to be returned  
Not applicable  
Not applicable  
Not applicable  
Exceptional compensation  
Applicable, by decision of the Board of Directors, in case of very specific  
circumstances (spin-off and listing of a subsidiary, merger, etc.)  
Payment subject to shareholder approval of all items of compensation at an  
Ordinary General Meeting and in all circumstances capped at 100% of annual  
fixed compensation  
Share options, performance shares and any other  
long-term items of compensation  
Eligibility for long-term incentive plans set up by the Group for its senior  
managers (Capped at 100% of annual compensation if targets are met per plan)  
These plans are subject to continued employment and to strict performance  
conditions based on targets that are at least equal to any guidance targets  
disclosed to the market  
Vesting period of at least three years  
Obligation to hold 50% of the shares that will vest under these plans  
for the entire duration of the recipient’s term of office  
Commitment not to engage in any hedging transactions with respect to  
performance shares held until the expiry of these plans or of the applicable  
holding period  
Compensation referred to in Article L. 22-10-14 of  
the French Commercial Code  
Not applicable (except in case of appointment by the Board of Directors of the  
Company. Appointments held at Group subsidiaries do not give rise to any  
compensation)  
Any other benefits  
Company car; contribution to the GSC unemployment insurance for executives  
Severance pay/benefit payable upon change of duties  
Non-compete payment  
Supplementary pension plan  
Not applicable  
Not applicable  
Not applicable  
60%: Board of Directors;  
p
2.3. Board of Directors  
20%: Audit Committee;  
p
2.3.1. COMPENSATION PAID TO DIRECTORS OF THE
PARENT COMPANY
10%: Compensation Committee;  
p
p
10%: Nomination, Governance, Ethics and Corporate  
ResponsibilityCommittee.  
Compensation  policy  applicable  to  members  of  the  Board  of  
Directors  stipulates  that  the  compensation  referred  to  in  
Article L. 225-45  of  the  French  Commercial  Code  must  be  
apportioned in full between members participating in meetings of  
the  Board  and  its  committees  (including  both  Directors  and  
non-voting  members)  in  proportion  to  their  actual  attendance  at  
those  meetings,  whether  in  person  or  by  telephone  or  video  
conference.  
Additional weightings are applied based on attendance, as follows:  
a  coefficient  of  2.0  applied  to  attendance  by  Chairmen  at  
meetings  of  the  committees  they  chair  (each  meeting  attended  
counts double);  
p
a coefficient of 1.2 applied to attendance by Directors who live  
p
outside  France  at  meetings  of  the  Board  and  its  committees.  
However,  this  extra  weighting  does  not  apply  to  Directors  who  
are employees of a Group company.  
The total amount of that compensation is divided up in such way  
that  an  amount  is  reserved  and  then  apportioned  among  the  
members of the Board of Directors and its committees as follows:  
84  
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CORPORATE GOVERNANCE  
Standardised presentation of compensation paid to company officers  
Compensation  policy  applicable  to  members  of  the  Board  of  
Directors  is  focused  on  regular  attendance  and  encourages  
participation in one or more committees. It aims to compensate the  
increased burden placed upon Directors who live outside France. It  
compensates  the  additional  work  undertaken  by  Committee  
Chairmen  as  well  as  their  responsibility  to  the  Board  of  Directors.  
Committee  Chairmen  organise  and  oversee  the  work  of  their  
committees before reporting to the Board of Directors.  
2.3.2. COMPENSATION PAID TO DIRECTORS
OF SUBSIDIARIES
Directorships held at Company subsidiaries are not compensated.  
3.
Standardised presentation of compensation  
paid to company officers  
3.1. AFEP-MEDEF Code tables  
OVERVIEW OF COMPENSATION, OPTIONS AND SHARES GRANTED  
TO PIERRE PASQUIER, CHAIRMAN OF THE BOARD OF DIRECTORS  
(TABLE 1 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
2019  
2020  
Compensation awarded in respect of the financial year  
Value of stock options granted during the financial year  
Value of performance shares granted during the financial year  
Value of other long-term compensation plans  
€535,880  
€533,644  
-
-
-
-
-
-
TOTAL
€535,880
€533,644
STATEMENT SUMMARISING COMPENSATION PAID  
TO PIERRE PASQUIER, CHAIRMAN OF THE BOARD OF DIRECTORS  
(TABLE 2 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
2019  
2020  
Amount  
Amount  
awarded  
Amounts  
paid  
Amount  
paid  
awarded  
Fixed compensation  
€500,000  
€500,000  
€500,000  
€500,000  
Annual variable compensation  
Exceptional compensation  
-
-
-
-
-
-
-
-
Compensation allotted in respect of directorship (L. 22-10-14)  
Benefits in kind  
€27,330  
€8,550  
€23,268  
€8,550  
€27,944  
€5,700  
€27,330  
€5,700  
TOTAL
€535,880
€531,818
€533,644
€533,030
As Chairman and CEO of Sopra GMT  the holding company that  
plays  an  active  role  in  managing  Sopra Steria  Group   Pierre  
Pasquier  received  fixed  compensation  of  €60,000  from  that  
company  in  respect  of  his  duties  there  (leading  the  Sopra  GMT  
team),  as  well  as  compensation  of  €14,400  under  
Article L. 22-10-14  of  the  French  Commercial  Code  in  respect  of  
financial  year  2020.  This  compensation  was  not  rebilled  to  Sopra  
Steria Group (see Section 1.1.4 of this chapter, page 53).  
As  Chairman  of  the  Board  of  Directors  of  Axway  Software,  as  
indicated  in  its  Universal  Registration  Document,  he  also  received  
fixed compensation from that company in the amount of €138,000  
and compensation in respect of Article L. 22-10-14 of the French  
Commercial Code of €18,996.  
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Standardised presentation of compensation paid to company officers  
OVERVIEW OF COMPENSATION, OPTIONS AND SHARES GRANTED TO VINCENT PARIS, CHIEF EXECUTIVE OFFICER  
(TABLE 1 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
2019  
2020  
Compensation awarded in respect of the financial year  
Value of stock options granted during the financial year  
Value of performance shares granted during the financial year  
Value of other long-term compensation plans  
€775,816  
€609,021  
-
-
-
-
-
TOTAL
€775,816
€609,021
STATEMENT SUMMARISING THE COMPENSATION OF VINCENT PARIS, CHIEF EXECUTIVE OFFICER  
(TABLE 2 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
2019  
2020  
Amount  
Amounts  
awarded  
Amounts  
paid  
Amount  
paid  
awarded  
Fixed compensation  
€500,000  
€500,000  
€500,000  
€500,000  
Annual variable compensation  
Exceptional compensation  
Compensation allotted in respect of directorship (L. 22-10-14)  
Benefits in kind  
€265,000  
-
-
-
€97,500  
€265,000  
-
-
-
-
-
-
€10,816  
€10,816  
€11,521  
€11,521  
TOTAL
€775,816
€510,816
€609,021
€776,521
Relative proportions of fixed (€500,000) and variable (€97,500) compensation are 84% and 16% respectively.  
CALCULATION OF 2020 ANNUAL VARIABLE COMPENSATION  
Potential  
amount  
as % of  
AVC(1)  
Potential  
amount  
Amount  
awarded  
in €  
Requirement  
Type  
in € Threshold  
Target  
Ceiling  
Achieved  
Consolidated  
revenue growth  
Consolidated  
operating margin  
Quantifiable  
Quantifiable  
45%  
45%  
€135,000  
€135,000  
N/A  
-3,0%  
7.5%  
N/A  
N/A  
-4,8%  
7.0%  
€0  
6.5%  
€67,500  
Criterion related to Group  
organisation: Creation of an  
environment conducive to  
introducing the role of Group  
COO(2)  
Criterion related to corporate  
social responsibility  
Contribution to the Group’s  
Objective  
100%  
achieved  
Qualitative  
Qualitative  
5%  
€15,000  
N/A  
N/A  
N/A  
N/A  
N/A  
N/A  
€15,000  
Objective  
100%  
achieved  
goal of becoming carbon  
neutral  
5%  
€15,000  
€15,000  
TOTAL
100%
€300,000
€97,500
Performance  criteria  were  applied  as  anticipated  at  the  time  they  
were determined.  
Qualitative targets incentivised the executive to take a medium-term  
view by improving how efficiently the Group is organised and taking  
account of corporate responsibility requirements.  
Total compensation is in keeping with the compensation policy and  
contributes to the company’s long-term performance insofar as it is  
the result of an incentive to drive profitable growth based on the  
added value provided by the Group’s services.  
(1) AVC: Annual variable compensation  
(2) Chief Operating Officer  
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Standardised presentation of compensation paid to company officers  
STATEMENT OF COMPENSATION RECEIVED BY NON-EXECUTIVE COMPANY OFFICERS  
(TABLE 3 OF THE AFEP-MEDEF CORPORATE GOVERNANCE CODE FOR LISTED COMPANIES, JANUARY 2020)  
2019  
Amount  
2020  
Amount  
paid  
Amount  
awarded  
Amount  
paid  
awarded  
(amounts rounded to the nearest euro)
Astrid Anciaux  
Compensation allotted in respect of directorship  
Other compensation  
€20,038  
-
€19,697  
-
€13,867  
€20,038  
-
Hélène Badosa(designated by the Works and Economic Council at  
its meeting on 23 September 2020)  
Compensation allotted in respect of directorship  
(reversion to a trade union)  
Other compensation  
André Einaudi(appointed by the shareholders at the General  
Meeting of 9 June 2020)  
Compensation allotted in respect of directorship  
Other compensation  
€24,972  
-
€3,940  
-
€23,809  
€4,622  
€24,972  
-
David Elmalem(designated by the Works and Economic Council at  
its meeting on 23 September 2020)  
Compensation allotted in respect of directorship (reversion to a trade  
union)  
€4,623  
Other compensation  
René-Louis Gaignard(designated by the Works Council at its  
meeting on 27 and 28 September 2018 – resigned on  
2 January 2020)  
Compensation allotted in respect of directorship (reversion to a trade  
union)  
Other compensation  
€17,176  
-
€3,940  
-
€17,176  
-
Michael Gollner(appointed by the shareholders at the General  
Meeting of 12 June 2018)  
Compensation allotted in respect of directorship  
Other compensation  
Éric Hayat  
Compensation allotted in respect of directorship  
Other compensation  
€26,266  
-
€18,182  
-
€49,380  
€36,455  
€26,266  
-
€35,554  
-
€30,961  
-
€35,554  
-
Noëlle Lenoir(appointed by the shareholders at the General Meeting  
of 9 June 2020)  
Compensation allotted in respect of directorship  
Other compensation  
€6,934  
Javier Monzón(appointed by the shareholders at the General  
Meeting of 12 June 2018 – resigned on 1 September 2019)  
Compensation allotted in respect of directorship  
Other compensation  
€17,688  
-
€8,473  
-
€17,688  
-
Éric Pasquier  
Compensation allotted in respect of directorship  
Other compensation  
Jean-Luc Placet  
Compensation allotted in respect of directorship  
Other compensation  
Jean-Bernard Rampini, Non-Voting Director  
Compensation allotted in respect of directorship  
Other compensation  
Sylvie Rémond  
Compensation allotted in respect of directorship  
Other compensation  
Marie-Hélène Rigal-Drogerys  
Compensation allotted in respect of directorship  
Other compensation  
€42,765  
-
€32,197  
-
€38,243  
€42,838  
€13,867  
€25,057  
€61,499  
€42,765  
-
€43,777  
-
€32,243  
-
€43,777  
-
€17,176  
-
€19,697  
-
€17,176  
-
€14,313  
-
€17,727  
-
€14,313  
-
€65,493  
-
€55,227  
-
€65,493  
-
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Standardised presentation of compensation paid to company officers  
2019  
Amount  
2020  
Amount  
Amount  
paid  
Amount  
paid  
awarded  
awarded  
(amounts rounded to the nearest euro)
Gustavo Roldan de Belmira(term of office ended at the close of  
the General Meeting of 12 June 2018 – designated by the Social and  
Economic Committee to continue in this position at its meeting on  
31 January 2020)  
Compensation allotted in respect of directorship  
(reversion to a trade union)  
Other compensation  
Jean-François Sammarcelli  
Compensation allotted in respect of directorship  
Other compensation  
Jessica Scale  
Compensation allotted in respect of directorship  
Other compensation  
Solfrid Skilbrigt  
Compensation allotted in respect of directorship  
Other compensation  
-
€14,977  
€11,556  
€45,386  
€36,455  
€13,867  
€43,598  
-
€49,015  
-
€33,983  
-
€49,015  
-
€35,554  
-
€24,047  
-
€35,554  
-
€20,038  
-
€19,697  
-
€20,038  
-
Sopra GMT  
Compensation allotted in respect of directorship  
Other compensation  
€42,845  
€34,532  
-
€42,845  
Other terms of office ending in 2018  
Compensation allotted in respect of directorship  
Other compensation  
-
€72,364  
-
TOTAL
€472,670
€476,732
€472,056
€472,670
The difference between the total amount of compensation stated in  
Article L. 225-45 of the French Commercial Code to be allocated  
for 2019 and 2020 (€500,000) and the totals shown in the table  
above is due to the amount awarded to Pierre Pasquier inrespect of  
his role as Director (€27,330 in 2019 and €27,944 in 2020). These  
amounts  are  shown  in  table 2  “AFEP-MEDEF  Code  of  Corporate  
Governance for Listed Companies, January 2020”.  
€1,074,801 excluding VAT (see Section 1.1.4 of this chapter and  
the Statutory Auditors’ special report on related-party agreements  
provided  at  the  end  of  Chapter  6,  "2020  Parent  Company  
Financial Statements" of this Universal Registration Document, on  
pages 262 to 263);  
Éric Hayat Conseil, a company controlled by Éric Hayat, provided  
consulting  services  for  business  development  in  strategic  
operations,  billed  in  the  amount  of  €208,500  excluding  VAT  
under  an  agreement  renewed  in  October 2018  (see  
Section 1.1.6 of this chapter and the Statutory Auditors’ special  
report  on  related-party  agreements    provided  at  the  end  of  
Chapter  6,  "2020  Parent  Company  Financial  Statements"  of  this  
Universal Registration Document, on pages 262 to 263).  
p
It should also be noted that:  
as  regards  Sopra  GMT,  a  legal  entity  serving  as  a  Director,  the  
p
implementation  of  the  tripartite  framework  agreement  for  
assistance entered into between Sopra GMT, Sopra Steria Group  
and  Axway  Software  in 2011  resulted  in  the  invoicing  to  
Sopra Steria  Group  by  Sopra  GMT  of  a  net  amount  of  
SHARE SUBSCRIPTION AND PURCHASE OPTIONS GRANTED TO EXECUTIVE COMPANY OFFICERS DURING THE FINANCIAL  
YEAR (TABLE 4 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
None.  
SHARE SUBSCRIPTION AND PURCHASE OPTIONS EXERCISED BY EXECUTIVE COMPANY OFFICERS DURING THE FINANCIAL  
YEAR (TABLE 5 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
None.  
PERFORMANCE SHARES AWARDED TO EACH EXECUTIVE COMPANY OFFICER DURING THE FINANCIAL YEAR (  
TABLE 6 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
None.  
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Standardised presentation of compensation paid to company officers  
PERFORMANCE SHARES NO LONGER SUBJECT TO A HOLDING PERIOD DURING THE FINANCIAL YEAR FOR EACH EXECUTIVE  
COMPANY OFFICER (TABLE 7 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES,  
JANUARY 2020)  
Number of shares becoming available  
Number and date of plan  
during the financial year  
952 shares with no minimum holding period  
953 shares with a minimum holding  
Vincent Paris  
24/02/2017 LTI B plan  
period for the entire term of office  
1,905 SHARES
This allotment is based on the achievement of the performance conditions set out in the rules for this plan :  
2017  
Sopra Steria Group performance  
targets and criteria  
% Achieved  
(Year)  
Threshold  
Target  
Results % Achieved  
Weighting  
Organic revenue growth  
2.0%  
4.0%  
3.5%  
75%  
1/3  
Operating profit on business activity  
as % of revenue
8.3%  
€170m  
8.6%  
€200m  
8.6%  
€110m  
100%  
0%  
1/3  
1/3  
58.33%  
Free cash flow(1)  
2018  
Sopra Steria Group performance t  
argets and criteria  
% Achieved  
(Year)  
Threshold  
Target  
Results % Achieved  
Weighting  
Organic revenue growth  
3.0%  
5.0%  
4.9%  
95%  
1/3  
Operating profit on business activity  
as % of revenue
8.5%  
€160m  
9.0%  
€200m  
7.5%  
€170m  
0%  
25%  
1/3  
1/3  
40.00%  
Free cash flow(1)  
2019  
Sopra Steria Group performance  
targets and criteria  
% Achieved  
(Year)  
Threshold  
Target  
Results % Achieved  
Weighting  
Organic revenue growth  
4.0%  
6.0%  
6.5%  
100%  
1/3  
Operating profit on business activity  
as % of revenue
7.5%  
€150m  
8.1%  
€200m  
8.0%  
€197m  
83%  
93%  
1/3  
1/3  
92.16%  
Free cash flow(1)  
% Achieved  
(Plan)  
TOTAL – PLAN B
63.50%
For  information,  since  the  targets  linked  to  the LTI C  plan  of  
16 February  2018  were  also  63.5%  achieved,  Vincent  Paris  will  
receive a definitive grant of 1,905 shares on 1 April 2021 subject  
to a condition of continued employment. He is required to retain at  
least 952 of these shares until his term of office as Chief Executive  
Officer comes to an end.  
Directors required the Chief Executive Officer to hold, for the entire  
duration  of  his  term  of  office,  at  least  50%  of  the  performance  
shares  received  under  long-term  incentive  plans.  The  shares  that  
Vincent  Paris  is  required  to  hold  therefore  make  up  a  growing  
proportion  of  his  annual  fixed  compensation  (around  50%  at  
31/12/2020 based on the closing share price).  
To help ensure that the interests of the Chief Executive Officer and  
the  shareholders  are  aligned  over  the  long  term,  the  Board  of  
RECORD OF SHARE SUBSCRIPTION OR PURCHASE OPTIONS GRANTED – INFORMATION ON SHARE SUBSCRIPTION  
OR PURCHASE OPTIONS (TABLE 8 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES,  
JANUARY 2020)  
None.  
(1) Result established as per the plan regulation  
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CORPORATE GOVERNANCE  
Standardised presentation of compensation paid to company officers  
OVERVIEW OF PERFORMANCE SHARE GRANTS – INFORMATION ON PERFORMANCE SHARES  
(TABLE 9 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
See Section 5.4 of Chapter 5, "2020 Consolidated Financial Statements" of this Universal Registration Document and see Section 4.2.2 of  
Chapter 6  « 2020  Parent  Company  Financial  Statements »  of  this  Universal  Registration  Document  (respectively  pages 182  to  183  and  
236).  
STATEMENT SUMMARISING THE MULTI-YEAR VARIABLE COMPENSATION OF EACH EXECUTIVE COMPANY OFFICER  
(TABLE 10 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
None.  
EMPLOYMENT CONTRACTS, SUPPLEMENTARY PENSION PLANS, ALLOWANCES  
OR BENEFITS DUE ON THE CESSATION OF DUTIES OR A CHANGE IN DUTIES, NON-COMPETE CLAUSES  
(TABLE 11 – AFEP-MEDEF CODE OF CORPORATE GOVERNANCE FOR LISTED COMPANIES, JANUARY 2020)  
Allowances or benefits  
due or likely to become due  
as a result of the cessation  
of duties or a change in  
duties  
Supplementary  
pension plan  
Allowances for a  
non-compete clause  
Employment contract  
Executive company officers  
Yes  
No  
Yes  
No  
Yes  
No  
Yes  
No  
Pierre Pasquier  
Chairman  
Term of office began: 2018  
Term of office ends: 2024  
Vincent Paris  
Chief Executive Officer  
Term of office began: 2015  
Term of office ends: Indefinite  
It should be noted that Vincent Paris was appointed Chief Executive  
Officer on 17 March 2015 and does not hold any company officer  
positions  outside  the  Group.  By  way  of  an  exception  to  the  
AFEP-MEDEF  Code,  his  employment  contract  was  not  terminated  
and remains in abeyance.  
a supplementary pension plan for Vincent Paris. Vincent Paris is not  
a member of the Board of Directors. His employment contract has  
been  in  abeyance  since  his  first  appointment  as  Deputy  Chief  
Executive Officer.  
In  light  of  his  career  within  the  Group,  his  length  of  service,  his  
circumstances, his significant contributions and the components of  
his  compensation,  the  decision  not  to  terminate  his  employment  
contract still seems to be in the best interests of the Company. A  
decision of this kind would carry great symbolic weight and would,  
in addition, be difficult to envision without an agreement to a set of  
terms in exchange. On the other hand, the possible disadvantages  
of maintaining the employment contract in abeyance have not been  
identified. Nonetheless, it should be noted that if Vincent Paris were  
no  longer  a  company  officer,  his  employment  contract  would  
remain in effect and would entitle him to claim retirement bonuses  
or termination benefits, if applicable. The employment contract in  
abeyance  is  a  standard  Sopra Steria  Group  employment  contract  
identical to that signed by Group employees and governed by the  
Syntec collective bargaining agreement with no special provisions or  
notice period adjustment, even concerning termination or a change  
in position. No special payments are provided for. As things stand,  
only  standard  legal  rights  (droit  commun)  would  apply  upon  the  
termination of the employment contract.  
The recommendation in this article applies to the Chairman and the  
Chief  Executive  Officer,  but  not  to  the  Deputy  Chief  Executive  
Officers.  
Hired  on  27 July  1987  following  his  graduation  from  the  École  
Polytechnique,  Vincent  Paris  has  spent  his  entire  career  within  
Sopra Steria Group or within the companies having merged since  
that date with Sopra Steria Group. After 26 years of employment  
within the Group, as part of the tie-up with Groupe Steria and as its  
integration was being completed, he was appointed Deputy Chief  
Executive  Officer  in  January 2014,  then  Chief  Executive  Officer  in  
April 2014,  once  again  Deputy  Chief  Executive  Officer  in  
September 2014  and  finally  Chief  Executive  Officer  again  in  
March 2015. Although the criteria used to determine and structure  
his variable compensation – which have long been strictly in keeping  
with those used for the Company’s senior managers  underwent  
changes in 2017, they remain very similar.  
At  present,  no  commitments  have  been  entered  into  by  the  
Company with regard to severance pay, a non-compete payment or  
90  
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Standardised presentation of compensation paid to company officers  
OTHER COMPANY OFFICERS  
Allowances  
or benefits due  
or likely to become  
due as a result of  
the cessation of  
duties or a change  
in duties  
Employment  
Allowances for a  
non-compete  
clause  
contract  
Supplementary  
pension plan  
(permanent)  
Other company  
officers  
Amount paid  
in 2020  
Yes  
Company  
Yes  
No  
Yes  
No  
Yes  
No  
Sopra Steria  
Benelux  
Sopra Steria  
Group SA  
Sopra Steria  
Group SA  
Sopra Banking  
Software  
Sopra Steria  
Group SA  
Sopra Steria  
Group SA  
Astrid Anciaux  
Hélène Badosa  
David Elmalem  
Éric Pasquier  
€121,676  
€51,661  
€56,283  
€518,510  
€209,225  
€55,502  
€220,000  
Jean-Bernard Rampini  
Gustavo Roldan de  
Belmira  
Sopra Steria  
Group (Norway)  
Solfrid Skilbrigt  
Board members may only be linked to a company or any of its subsidiaries if the link in question was established before the Board member  
became a company officer. It is mandatory for Directors representing the employees and for Directors representing employee shareholders.  
3.2. Fairness ratios  
3.2.1. CHAIRMAN OF THE BOARD OF DIRECTORS
In 2017, the General Meeting of Shareholders approved a proposal  
to  the  General  Meeting  to  suppress  the  variable  component  of  
compensation for the Chairman without altering the amount of his  
total  compensation  package.  Under  this  proposal,  the  average  
amount of variable compensation paid since the last update of the  
fixed  component  in  January 2011  was  included  within  his  fixed  
compensation, whose gross annual amount would thus be raised to  
€500,000 on a gross basis.  
changing the overall compensation at unchanged activity levels. The  
Chairman of the Board of Directors continued to work full-time, as  
stated in Section 1.1.3 “Overview of the activities of the Chairman  
of the Board of Directors in 2020” of this chapter (page 52).  
The  chart  below  shows  how  the  fairness  ratios  provided  for  by  
Ordinance 2019-1234  of  27 November  2019  have  varied  over  
time.  It  is  the  ratio  of  the  Chairman  of  the  Board  of  Directors’  
compensation  to  the  average  and  median  compensation  of  
employees across the broader scope (average 86% of the workforce  
in France over the period).  
This decision by the Board of Directors aims in particular to align the  
structure  of  the  compensation  received  by  the  Chairman  of  the  
Board  of  Directors  with  the  AFEP-MEDEF  Code   25.2)  without  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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3
CORPORATE GOVERNANCE  
Standardised presentation of compensation paid to company officers  
CHAIRMAN – FAIRNESS RATIO  
Compensation paid  
to the Chairman  
Average compensation  
Compensation paid  
to the Chairman  
Median compensation  
Ratio based on average  
compensation=  
Ratio based on median  
compensation=  
3.2.2. CHIEF EXECUTIVE OFFICER
Vincent Paris has spent his entire career within Sopra Steria Group  
or  within  the  companies  having  merged  since  that  date  with  
Sopra Steria  Group.  After  26 years  of  employment  within  the  
Group,  as  part  of  the  tie-up  with  Groupe  Steria  and  as  its  
integration was being completed, he was appointed Deputy Chief  
Executive  Officer  in  January 2014  and  Chief  Executive  Officer  in  
March 2015. The Board of Directors thus decided to adjust his fixed  
annual compensation to €400,000 with effect from 1 July 2015.  
governance  and  HR  transformation  priorities,  were  unanimously  
approved by the Board of Directors at its meeting of 16 February  
2018, without the Chief Executive Officer being present.  
While noting the progress made by the Group in 2018, particularly  
on  the  cash  generation  front,  the  Compensation  Committee  took  
into  consideration  the  implications  for  all  the  various  stakeholders  
(employees and management, shareholders) of the shortfall in the  
operating margin on business activity relative to the targets set at  
the beginning of the year. At the end of its review, it concluded that  
the Group’s performance was not sufficient to justify the payment  
of variable compensation in respect of the 2018 financial year. After  
due  consideration,  the  Board  of  Directors  approved  the  
recommendation made by the Compensation Committee.  
The  criteria  used  to  determine  and  structure  his  variable  
compensation have remained strictly in keeping with those used for  
the Company’s senior managers.  
In  2017,  at  the  General  Meeting,  the  shareholders  approved  the  
change  in  the  compensation  policy  for  the  Chief  Executive  Officer  
decided by the Board of Directors:  
Vincent  Paris  was  eligible  for  all  three  performance  share  plans  
decided on by the Board of Directors in 2016, 2017 and 2018. A  
total of 9,000 rights to performance shares have thus been awarded  
to  Vincent  Paris,  in  accordance  with  the  authorisation  given  by  
shareholders  at  the  General  Meeting  of  22 June  2016,  compared  
with  the  316,500  rights  granted  to  all  the  other  recipients  under  
these  plans,  with  5,794 shares  effectively  deliverable.  The  vesting  
periods for the three plans in question were extended from 24 June  
2016 to 31 March 2021.  
the  Chief  Executive  Officer’s  annual  fixed  compensation  was  
p
raised to €500,000 on a gross basis, effective 1 January 2017;  
under  this  proposal,  the  Chief  Executive  Officer’s  variable  
p
compensation was set at 60% of his annual fixed compensation  
should  the  objectives  be  met,  capped  at  100%  in  the  event  of  
particularly outstanding performance.  
The  procedures  used  to  determine  annual  variable  compensation  
were  also  revised  in  the  interests  of  clarity  and  compliance  with  
AFEP-MEDEF recommendations. Of the criteria taken into account,  
two-thirds  (i.e.  40%  of  annual  fixed  compensation,  if  targets  are  
fully met) was based on the quantifiable target (operating margin  
on  business  activity)  and  one-third  (i.e.  20%  of  annual  fixed  
compensation, if targets are fully met) was based on one or more  
qualitative  targets.  The  precisely  defined  qualitative  objectives  are  
consistent with the Group’s strategy and organisation, its corporate  
responsibility policy and/or the assessment of the company officer’s  
performance.  
The  chart  below  shows  how  the  fairness  ratios  provided  for  by  
Ordinance 2019-1234  of  27 November  2019  have  varied  over  
time. It presents:  
the change in the company’s performance level in relation to the  
p
extent  to  which  the  Chief  Executive  Officer  achieved  his  
quantifiable targets (financial performance of the company);  
the change in the amount and composition of the Chief Executive  
p
Officer’s total compensation;  
ratios  calculated  relative  to  the  average  and  median  
p
For financial  year  2018,  the  quantifiable  objective  of  operating  
margin  on  business  activity  and  the  three  qualitative  objectives  in  
line with strategy and with regards to the Group’s organisational,  
compensation  of  employees  across  the  broader  scope  (average  
86% of the workforce in France over the period).  
92  
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Standardised presentation of compensation paid to company officers  
CHIEF EXECUTIVE OFFICER – FAIRNESS RATIO  
The chart has been prepared using the ratio calculated across the broader scope.  
Compensation paid  
to the Chief Executive Officer  
Average compensation  
Compensation paid  
to the Chief Executive Officer  
Ratio based on average  
compensation=  
Ratio based on median  
compensation=  
Median compensation  
CHANGE IN THE PERFORMANCE AND COMPENSATION OF THE CHIEF EXECUTIVE OFFICER  
The apparent change in performance in 2020 was partly due to a methodological issue: one of the two quantifiable targets (revenue growth)  
only  had  a  target  level,  without  a  threshold.  As  such,  it  could  not  be  partly  achieved.  Its  value  is  0,  with  a  weighting  of  50%  in  the  
performance assessment.  
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CORPORATE GOVERNANCE  
Standardised presentation of compensation paid to company officers  
3.2.3. FAIRNESS RATIO TABLE
2016  
2017  
2018  
2019  
2020  
Compensation paid to the Chairman  
Compensation paid to the Chief Executive Officer  
€530,341  
€663,777  
€529,077  
€814,958  
€531,818  
€646,847  
€535,880  
€1,004,548  
€533,644  
€692,946  
Broader scope (Sopra Steria Group,  
Sopra Banking, I2S and Beamap)  
2016  
2017  
2018  
2019  
2020  
Average annual salary  
€46,601  
€48,106  
€48,502  
€50,157  
€50,514  
Ratio Chairman compensation/Average salary  
11  
11  
11  
11  
11  
Ratio Chief Executive Officer compensation/Average  
salary  
Median annual salary  
14  
€40,190  
13  
17  
€41,179  
13  
13  
€40,873  
13  
20  
€42,595  
13  
14  
€42,611  
13  
Ratio Chairman compensation/Median salary  
Ratio Chief Executive Officer compensation/Median  
salary  
17  
20  
16  
24  
16  
Sopra Steria Group SA  
2016  
2017  
2018  
2019  
2020  
Average annual salary  
€46,168  
€47,500  
€47,832  
€49,389  
€49,844  
Ratio Chairman compensation/Average salary  
11  
11  
11  
11  
11  
Ratio Chief Executive Officer compensation/Average  
salary  
Median annual salary  
14  
€39,738  
13  
17  
€40,550  
13  
14  
€40,357  
13  
20  
€42,017  
13  
14  
€42,072  
13  
Ratio Chairman compensation/Median salary  
Ratio Chief Executive Officer compensation/Median  
salary  
17  
20  
16  
24  
16  
Performance  
2016  
2017  
2018  
2019  
2020  
Level of quantifiable targets achieved  
by the CEO  
Consolidated operating margin  
Organic consolidated revenue growth  
Free cash flow  
98%  
8.0%  
5.2%  
100%  
8.6%  
3.5%  
85%  
7.5%  
4.9%  
104%  
8.0%  
6.5%  
47%  
7.0%  
-4.8%  
€150.6m  
€111.4m  
€173.1m  
€229.3m  
€203.5m  
Note: The Chief Executive Officer’s variable compensation is linked  
not  only  to  the  Group’s  financial  performance,  but  also  to  its  
non-financial  performance.  Sections 2.2.3  “Diversity  and  equal  
opportunity”  and  4.4  “Future  outlook”  concerning  actions  to  
protect the environment, in Chapter 4, “Corporate responsibility” of  
this  Universal  Registration  Document  (on  pages  108  to  111  and  
131,  respectively)  report  on  the  Group’s  performance  in  terms  of  
corporate social responsibility. This performance is also reflected in  
the compensation paid to the Chief Executive Officer through one  
or more qualitative targets.  
Comments on methodology:  
Compensation  paid  to  the  Chairman  corresponds  to  the  amounts  
owed as shown in the AFEP-MEDEF tables.  
Compensation paid to the Chief Executive Officer corresponds to the  
amounts  owed  as  shown  in  the  AFEP-MEDEF  tables.  However,  
performance  shares  effectively  delivered  or  deliverable  subject  to  
being  with  the  company  at  the  end  of  the  vesting  period  are  
redistributed over each of the years covered by the plan depending  
on  achievement  of  the  performance  conditions  set.  They  are  
measured at fair value at the time of allocation.  
94  
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Standardised presentation of compensation paid to company officers  
Average and median annual compensation paid to employees has  
been  calculated  on  the  basis  of  a  population  representing  on  
average  86%  of  employees  in  France  over  the  period  (temporary  
exclusions  from  the  scope  are  due  to  technical  difficulties  in  
processing data over all of the five years but calculations made in  
2019  showed  that  the  result  did  not  changed  beyond  the  first  
decimal  point).  Compensation  taken  into  account  includes  fixed  
compensation,  variable  compensation,  bonuses  of  any  kind,  
performance  share  plans  (measured  at  fair  value),  matching  
employer  contribution  shares  within  the  framework  of  employee  
share ownership plans, and incentives.  
The  company’s  performance  is  presented  in  relation  to  the  
percentage  of  achievement  of  the  quantifiable  targets  set  for  the  
Chief  Executive  Officer  by  the  Board  of  Directors.  These  targets  
concern financial performance (operating profit on business activity  
and organic growth). The performance level is calculated relative to  
the  target  value  bestowing  the  right  to  100%  of  variable  
compensation for the target achieved without taking account of the  
trigger  thresholds  used  to  calculate  variable  compensation  (i.e.  
actual  level/target  level).  The  weighting  of  each  of  these  criteria  
within  the  overall  performance  level  is  the  same  as  the  weighting  
used for the variable compensation of the Chief Executive Officer.  
For  2020,  as  the  limit  set  by  the  Board  of  Directors  for  negative  
organic growth in consolidated revenue was exceeded, the resulting  
performance  level  was  set  at  0%.  Other  data  representative  of  
performance  are  published  data  prepared  in  accordance  with  
applicable standards at the time of publication.  
3.3. Result of the shareholder consultation on compensation paid to executive  
company officers (General Meeting of 9 June 2020)  
RESULT OF THE SHAREHOLDER CONSULTATION ON COMPENSATION PAID TO THE CHAIRMAN  
For  
Against  
Votes  
Abstain  
Resolution Ordinary General Meeting  
Votes  
%
%
Votes  
Approval of the fixed, variable and exceptional items  20,726,378  
of compensation making up the total  
compensation and benefits of any kind paid or  
allotted to Pierre Pasquier, Chairman, in respect  
of the year ended 31 December 2019  
98.83% 244,677 1.17%  
605  
5
7
Approval of the compensation policy for the  
Chairman, as presented in the Report on corporate  
governance pursuant to Article L. 225-37-2 of the  
French Commercial Code  
20,874,977  
99.54% 96,078  
0.46%  
605  
RESULT OF THE SHAREHOLDER CONSULTATION ON COMPENSATION PAID TO THE CHIEF EXECUTIVE OFFICER  
For  
Against  
Votes  
Abstain  
Resolution Ordinary General Meeting  
Votes  
%
%
Votes  
Approval of the fixed, variable and exceptional items  20,462,371 97.57% 508,684  
of compensation making up the total compensation  
and benefits of any kind paid or allotted to Vincent  
Paris, Chief Executive Officer, in respect of the  
2.42%  
605  
6
8
year ended 31 December 2019  
Approval of the compensation policy for the Chief  
Executive Officer, as presented in the Report on  
corporate governance pursuant to  
20,283,916 96.88% 653,759  
3.12%  
33,985  
Article L. 225-37-2 of the French Commercial Code  
The Board of Directors took note of the result of the shareholder consultation on compensation paid to executive company officers.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE GOVERNANCE  
Departures from the guidelines set forth in the AFEP-MEDEF Code  
4.
Departures from the guidelines set forth  
in the AFEP-MEDEF Code  
At its meeting of 25 February 2021, the Board of Directors noted  
the  following  departures  from  the  guidelines  set  forth  in  the  
AFEP-MEDEF  Code  after  hearing  the  report  of  the  Nomination,  
Governance, Ethics and Corporate Responsibility Committee:  
then Chief Executive Officer in April 2014, once again Deputy  
Chief  Executive  Officer  in  September 2014  and  finally  Chief  
Executive  Officer  again  in  March 2015.  Although  the  criteria  
used  to  determine  and  structure  his  variable  compensation    
which  have  long  been  strictly  in  keeping  with  those  used  for  
the  Company’s  senior  managers   underwent  changes  
in 2017, they remain very similar.  
recommendation 11.3. During financial year 2020, no meetings  
p
of  the  Board  of  Directors  were  held  fully  in  the  absence  of  the  
Chief Executive Officer. Operational matters related to the public  
health crisis and the cyberattack required the Board of Directors  
to  be  kept  regularly  informed.  It  should  also  be  noted  that  the  
Chief Executive Officer is not a Director and does not take part in  
discussions on the evaluation of his performance, the setting of  
his targets or his compensation in general.  
No commitments have been entered into by the Company with  
regard  to  severance  pay,  a  non-compete  payment  or  a  
supplementary pension plan for Vincent Paris. Vincent Paris is  
not  a  member  of  the  Board  of  Directors.  His  employment  
contract  has  been  in  abeyance  since  his  first  appointment  as  
Deputy Chief Executive Officer.  
Recommendations  regarding  the  status  and  compensation  
of company officers:  
In light of his career within the Group, his length of service, his  
circumstances,  his  significant  contributions  and  the  
components of his compensation, the decision not to terminate  
his employment contract still seems to be in the best interests  
of  the  Company.  A  decision  of  this  kind  would  carry  great  
symbolic weight and would, in addition, be difficult to envision  
without an agreement to a set of terms in exchange. On the  
other  hand,  the  possible  disadvantages  of  maintaining  the  
employment  contract  in  abeyance  have  not  been  identified.  
Nonetheless, it should be noted that if Vincent Paris were no  
longer  a  company  officer,  his  employment  contract  would  
remain  in  effect  and  would  entitle  him  to  claim  retirement  
bonuses or termination benefits, if applicable. The employment  
contract  in  abeyance  is  a  standard  Sopra Steria  Group  
employment  contract  identical  to  that  signed  by  Group  
employees  and  governed  by  the  Syntec  collective  bargaining  
agreement  with  no  special  provisions  or  notice  period  
adjustment,  even  concerning  termination  or  a  change  in  
position.  No  special  payments  are  provided  for.  As  things  
stand, only standard legal rights (droit commun) would apply  
upon termination of the employment contract.  
recommendation  23.  The  Board  of  Directors  has  not,  to  date,  
p
fixed the number of shares that must be held and registered in  
the  name  of  the  Chairman  of  the  Board  of  Directors  who  
co-founded  of  the  Company.  Shares  held  directly  or  indirectly  
through Sopra GMT by the Chairman in a personal capacity or by  
the  Chairman’s  family  group  make  up  more  than  10%  of  the  
Company’s share capital;  
recommendation  22.1.  By  way  of  an  exception  to  the  
AFEP-MEDEF  Code,  the  Chief  Executive  Officer’s  employment  
contract was not terminated and remains in abeyance;  
p
The recommendation in this article applies to the Chairman and  
the Chief Executive Officer, but not to the Deputy Chief Executive  
Officers.  
Hired on 27 July 1987 following his graduation from the École  
Polytechnique, Vincent Paris has spent his entire career within  
Sopra Steria  Group  or  within  the  companies  having  merged  
since  that  date  with  Sopra Steria  Group.  After  26 years  of  
employment  within  the  Group,  as  part  of  the  tie-up  with  
Groupe Steria and as its integration was being completed, he  
was appointed Deputy Chief Executive Officer in January 2014,  
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Message from the Chief Executive Officer
98
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human and enlightened contribution
1.  
99
99  
1.1.
Overview of the Group’s corporate responsibility strategy and governance  
Major recognition  
1.2.
1.3.
104  
104  
Overview of reporting scope  
Social responsibility: A committed and responsible collective effort
2020 context  
106
106  
106  
113  
2.  
2.1.
2.2.
2.3.
Responsible employment challenges  
Other labour-related information  
Societal responsibility: Engaging all our stakeholders to build
a positive future for all
3.  
115
115  
116  
118  
119  
120  
121  
3.1.
Creating value for shareholders  
Innovation and strategic partnerships  
Responsible digital technology  
Responsible purchasing  
3.2.
3.3.
3.4.
3.5.
3.6.
Community and patronage  
Regional impact  
Environmental responsibility: Innovating all along our value chain
Environmental policy, strategy and targets  
Environmental challenges: opportunities for the Group  
Environmental impact and performance  
122
122  
123  
124  
131  
131  
131  
4.  
4.1.
4.2.
4.3.
4.4.
4.5.
4.6.
Future outlook  
Environmentalreporting  
Compliance and assurance in relation to environmental reporting  
Ethics and compliance
132
132  
132  
133  
133  
134  
134  
5.  
5.1.
Governance and organisation  
5.2.
5.3.
5.4.
5.5.
5.6.
Policies and procedures  
Measures to prevent and combat corruption  
Tax regulations and transparency - Fight against tax evasion  
Data protection  
Duty of vigilance and vigilance plan  
SDG/GRI/TCFD-CDSB cross-reference table
137
6.  
Annex: Social and environmental indicators
Summary of social indicators  
141
141  
7.  
7.1.
7.2.
Summary of environmental indicators  
148  
Report by the independent third party on the consolidated statement
of non-financial performance presented in the management report
8.  
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Message from the Chief Executive Officer  
Using digital technology responsibly
to accelerate positive change
The Group is strongly committed to taking
the challenges posed by social and
environmental changes into account
in its business and using digital technology
to accelerate positive change˝
environmental changes into account in
action to help the most vulnerable
populations through extensive solidarity
programmes focused on digital inclusion.
its business and using digital technology
to accelerate positive change. The crisis
has prompted us to strengthen our
sustainability strategy, which we have
been able to successfully leverage by
working with all our stakeholders to
more quickly build resilience all along
our value chain.
Sopra Steria has
a long-established
culture of solidarity at every level of
the organisation. As the Sopra Steria–
Institut de France Foundation celebrates
its 20th birthday in 2021, we share our
pride in it with all the employees and
non-profit organisations who work every
day with the Group’s support.
Vincent Paris
Chief Executive Officer
At the heart of our employee policy, we
have continued to work towards greater
diversity and equal opportunities, setting
ambitious targets for all Group entities.
We have continued with our skills
development programmes to enable
us to anticipate and respond to our
clients’ evolving needs.
The world is having to simultaneously
reckon with unprecedented upheavals
in the areas of climate, public health,
society and technology. These upheavals
Lastly, for the fourth year running the
CDP has recognised Sopra Steria as
a global leader on action to address
climate change and protect the
environment, including the Group on
its climate change A-List. This renewed
recognition bolsters our strategy on
net zero emissions, which we aim to
achieve across all our direct and indirect
activities by 2028. Through this strong
and decisive commitment, we want
to be the partner of choice for our
clients, helping them address their own
environmental challenges as we develop
our business.
will have
a lasting impact on all
economies and make populations more
vulnerable. They pave the way for far-
reaching changes that we must seize
to transform our lifestyles and growth
models.
During exceptional periods when the
coronavirus crisis meant working from
home became a necessity, we very quickly
adapted the Group’s working practices
and put in place measures to provide
our employees with all the support they
needed. We maintained employment levels,
stepped up our training programmes and
continued to recruit.
The events of 2020 prompted greater
awareness of these issues, heightening
the need for citizen engagement in
response to a search for meaning and
purpose within society. Our policy on
corporate responsibility in support of
The digitalisation of the economy,
education, training and learning has
accelerated sharply in an irreversible
trend that has further heightened social
inequality. All Group entities have taken
Our ability to manage change, work
together and stay the course over the
long haul is a key strength that will help
us, as a Group, continue to help build a
more sustainable world.
a
more sustainable world resonates
strongly with the current environment.
The Group is resolutely committed to
taking the challenges posed by social and
Foreword
This is the third year since the new Statement of Non-Financial Performance (SNFP) was introduced. This year, as part of its Universal
Registration Document, Sopra Steria is publishing a Corporate Responsibility Report incorporating information (relating to the workforce,
the environment, society, human rights, anti-corruption measures and the prevention of tax evasion) relevant to the Group’s key non-
financial risks, as required by the SNFP rules, as well as voluntarily reporting all helpful and important labour-related, environmental and
social information under the banner of Sopra Steria’s corporate responsibility programme.
The Group’s business model is described in the “Business model and value chain” section within the integrated overview of Sopra Steria,
of this Universal Registration Document (pages 8 to 9).
Key risks and methodology together with policies, procedures and actions to manage and control these risks, including non-financial risks,
are set out in Chapter 2 of this Universal Registration Document (pages 35 to 50).
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1.
Sopra Steria: A committed and responsible Group,  
making a sustainable, human and enlightened  
contribution  
1.1. Overview of the Group’s corporate responsibility strategy and governance  
Our corporate responsibility approach is underpinned by the mission  
Sopra Steria set for itself in 2019: “Together, building a positive  
future by making digital work for people”.  
This  strategy  is  shaped  by  seven  key  priorities,  all  aligned  
with the Group’s business model:  
Being  a  leading  employer  that  attracts  the  best  talent,  fosters  
p
We firmly believe that digital technology can create opportunity and  
progress  for  all.  When  closely  linked  to  humanity,  it  creates  a  
virtuous  circle  that  benefits  society  as  a  whole.  Sopra Steria  has  
chosen  to  be  a  “contributor”  company  involved  in  building  a  
sustainable world in which everyone has a part to play.  
employee dialogue and promotes diversity and equal opportunity;  
Being a long-lasting partner for our clients, meeting their needs  
p
as  effectively  as  possible  by  providing  them  with  the  best  
technology as part of a responsible and sustainable value-creating  
approach;  
We see our contribution as sustainable, human and guiding.  
Establishing ongoing constructive and transparent dialogue with  
p
Sustainable:  we  see  our  actions   whether  in  running  our  
businesses or helping our clients with their digital transformation –  
as  part  of  a  long-term  approach.  Our  approach  in  support  of  a  
more sustainable world encompasses all our environmental, social,  
ethical and inclusive commitments.  
our stakeholders;  
Achieving "net zero" emissions by 2028, protecting resources and  
helping combat climate change;  
p
Acting  ethically  and  with  integrity  in  our  day-to-day  operations  
and across all our business activities;  
p
Human-centred:  our  activities  are  focused  on  implementing  
projects  that  foster  digital  inclusion,  equal  opportunity  and  social  
open-mindedness.  For  a  number  of  years  now,  we  have  been  
committed to education for young people, inclusion for people with  
disabilities and professional development for women.  
Supporting  local  communities  by  stepping  up  our  community  
engagement initiatives, notably in the area of digital inclusion;  
p
Collaborating  with  our  ecosystem  to  adapt  our  initiatives  in  
response to the major changes we face;  
p
This  strategy  is  based  on  our  commitment  to  the  United  Nations  
Global Compact and on the materiality matrix that we use to assess  
the  non-financial  challenges  that  the  Group  faces.  The  relevant  
information is set out in Section 1.1.1, “Contribution to Sustainable  
Development Goals through the materiality matrix”, of this chapter  
(pages 100 to 102).  
Guiding:  our  contribution  is  rooted  in  our  ability  to  anticipate,  
understand and translate the challenges posed by digital technology  
so as to be able to better assess their impacts on everyday life. We  
are  thus  able  to  help  our  clients  meet  their  own  sustainability  
challenges.  We  work  with  our  ecosystem  and  contributing  to  the  
debate on the impact of digital technology on society in order to  
inform our work on the responsible use of digital technology.  
A  dedicated  governance  structure  coordinates  implementation  of  
policy and associated improvement plans.  
The Group’s corporate responsibility strategy is based on our values,  
convictions and a high level of commitment across the Group. We  
are  keen  to  be  a  responsible  company  that  mobilises  all  its  
stakeholders to help create a more sustainable world.  
Global Compact Advanced Level – top 8%  
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1.1.1. CONTRIBUTION TO SUSTAINABLE DEVELOPMENT GOALS THROUGH THE MATERIALITY MATRIX
Materiality  analysis  helps  identify  and  prioritise  the  most  relevant  
material and non-financial issues for the Group and its stakeholders.  
Looking  out  to  2023,  we  have  identified  17  priorities  in  the  
materiality  matrix  as  being  directly  aligned  with  the  Group’s  
business model and strategy. The relevant information is set out in  
the introduction, Integrated presentation of Sopra Steria”, of this  
Universal Registration Document (pages 8 and 11).  
The analysis is shown graphically in the form of a matrix plotting the  
significance  of  priorities  for  the  Group  (x-axis)  against  their  
significance for the organisation’s external stakeholders (y-axis).  
MATERIALITY MATRIX  
IMPORTANCE FOR
STAKEHOLDERS
Innovation
Client satisfaction
Security and data protection
Diversity and equal opportunity
Digital sovereignty
Very high
Direct environmental impact
of activities
Digital sobriety
Attracting and retaining talent
Indirect environmental impact
of activities
Skills development
and transformation
Civic engagement
High
Responsible supply chain
Culture and values
Staff well-being
and commitment
Digital responsibility
Environmental solutions
Labour relations
Medium
IMPORTANCE FOR
SOPRA STERIA
Medium
High
Very high
Environmental priorities
Societal Priorites
Labour-related Priorites
Market and business conduct priorites
The  Sustainable  Development  Goals  (SDGs)  are  the  17  global  
priorities adopted by the United Nations General Assembly for the  
period  to  2030.  Together  they  form  a  plan  of  action  for  peace,  
humanity,  the  planet  and  prosperity.  Through  its  corporate  
responsibility  programmes  targeting  social,  societal,  environmental  
and  ethical  goals,  Sopra Steria  directly  or  indirectly  supports  the  
17 United Nations SDGs. This contribution is further detailed in the  
tables breaking down issues pertaining to the materiality matrix and  
presented  under  the  various  policies  and  achievements  set  out  in  
this Universal Registration Document.  
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EMPLOYEE-RELATED PRIORITIES  
Attracting  
and retaining  
development and  talented  
Skills  
Well-being at  
work and  
commitment  
Diversity  
and equal  
opportunity  
Priorities  
transformation  
employees  
Labour relations  
Opportunities  
arising from  
priorities  
Develop  
Gain recognition  
as the employer  
of choice among  
top industry and  
digital professionals  
Foster employee  
development and  
build their  
engagement in  
support of a  
Eliminate all forms  
of discrimination,  
achieve a very good  benefiting the  
gender balance and  Group’s and  
promote diversity at  employees’  
Forge a constructive  
workplace dialogue  
employability and  
align employee skill  
sets with the new  
client priorities  
corporate plan that  
is meaningful and  
adds value for  
everyone involved  
every level of the  
business  
development  
Sopra Steria’s  
direct contribution  
to the SDGs  
Sopra Steria’s  
indirect  
contribution to the  
SDGs  
MARKET AND BUSINESS CONDUCT PRIORITIES  
Data security and  
protection  
Responsible  
supply chain  
Priorities  
Client satisfaction Innovation  
Culture and value  
Opportunity  
arising from  
priorities  
Focus on the  
Support clients’  
digital  
transformation by  
gaining a lead in  
the top  
Develop a culture of  Safeguard the  
entrepreneurship in  security of  
Work with suppliers  
and service  
providers fully  
aligned with the  
Group’s responsible  
purchasing  
Group’s strengths:  
close relationships,  
responsiveness,  
reliability and  
high-qualitydelivery technologies on the  and close client  
Achieve and  
maintain  
leading-edge  
production  
efficiency  
our teams founded  
on creativity,  
operations and the  
confidentiality of  
collective endeavour  personal and client  
data by  
market and by  
working with an  
innovative  
relationships and  
supported by the  
Group’s values  
implementing robust  priorities  
and agile  
frameworks, paying  
special attention to  
cybersecurity  
ecosystem  
predicated on major  
technological  
partnerships and  
startups  
Sopra Steria’s  
direct contribution  
to the SDGs  
Sopra Steria’s  
indirect  
contribution to the  
SDGs  
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SOCIETAL PRIORITIES  
Priorities  
Digital sovereignty  
Civic engagement  
Digital ethics  
Opportunity arising from  
priorities  
Help build a firm grasp of  
data issues across both the  Group and its employees to foster  
public and private sector  
Ratchet up the commitment of the  
Develop an ethically robust  
approach to applications  
and uses of digital  
technology  
digital inclusiveness and support the  
most vulnerable sections of society  
Sopra Steria’s direct  
contribution to the SDGs  
Sopra Steria’s indirect  
contribution to the SDGs  
ENVIRONMENTAL PRIORITIES  
Environmental impact of  
direct activities  
Environmental impact of  
indirect activities  
Environmental  
service solutions  
Priorities  
Digital sobriety  
Opportunity  
arising from  
priorities  
Keep the Group’s business  
travel, office space and data  
centres carbon-neutral  
Extend carbon-neutral  
approach to waste,  
commuting journeys and the  them with  
supply chain managing their  
Inform clients  
about and support  environmental footprint by  
Reduce digital technology’s  
developing the services  
delivered to clients  
own  
environmental  
challenges  
Sopra Steria’s  
direct  
contribution  
to the SDGs  
Sopra Steria’s  
indirect  
contribution  
to the SDGs  
The  priorities  resulting  from  the  materiality  matrix,  the  related  
policies and their main results are presented in the corresponding  
sections of this Universal Registration Document.  
1.1.2. A CORPORATE RESPONSIBILITY GOVERNANCE
STRUCTURE SUPPORTING THE GROUP’S
PRIORITIES
In  2020,  as  part  of  the  events  marking  the  United  Nations’  
75th anniversary and the 20th anniversary of its Global Compact,  
the  Group  responded  to  the  call  to  action  launched  by  the  
organisation  and  joined  its  “Uniting  Business  for  a  Better  World  
pledge, along with more than 1,200 other companies worldwide, to  
promote peace, justice, strong institutions, adherence to theGlobal  
Compact’s 10 principles and the achievement of the SDGs.  
The Chief Executive Officer, in conjunction with the Chairman of the  
Board  of  Directors,  oversees  the  Group’s  corporate  responsibility  
strategy,  notably  in  relation  to  social,  environmental  and  ethical  
issues. He chairs the Group’s Executive Committee, which lays down  
operational guidelines in these areas. The Chief Executive Officer’s  
compensation  takes  into  account  one  or  more  criteria  linked  to  
social and environmental responsibility.  
The Deputy Chief Executive Officer oversees the Group’s corporate  
responsibility programmes. He represents Executive Management in  
dealings  with  major  government  and  industry  bodies  touching  on  
corporate  responsibility  issues;  within  the  Group,  he  represents  
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Executive  Management  on  key  committees  overseeing  corporate  
to address environmental issues and risks identified by the network.  
It brings together functional expertise on climate issues to develop a  
strategy, implement actions and report on results.  
responsibility.  That  being  the  case,  he  chairs  the  Corporate  
Responsibility  and  Sustainable  Development  (CRSD)  Committee  
and the Corporate Responsibility Advisory Board, both of which are  
described  later  in  this  document.  In  conjunction  with  the  CRSD  
Director, he oversees analysis of risks and opportunities relating to  
corporate responsibility issues.  
Lastly, an Environmental Sustainability Unit was set up in 2020 to  
provide  the  Group’s  clients  with  access  to  expertise  and  tools  
developed in-house.  
Community Engagement unit  
The CRSD Director acts as the Group’s Chief Sustainability Officer.  
As a member of the Group’s Executive Committee since 2020, she  
manages the Group’s corporate responsibility programme and her  
compensation  takes  into  account  targets  linked  to  performance  
under  this  programme.  Governance  of  corporate  responsibility  is  
structured around this Group department and four interdependent  
units supported by functional and operational departments.  
This unit’s activities are overseen by the Group CRSD Department,  
which  determines  an  engagement  framework  for  the  Group  and  
coordinates the network of local stakeholders. In accordance with  
the  framework  laid  down,  each  entity  defines  and  implements  
community  action  programmes  suited  to  the  needs  of  its  local  
communities.  This  unit  oversees  the  actions  of  the  
Sopra Steria-Institut de France Foundation.  
Group Corporate Responsibility and Sustainable  
Development (CRSD) Department  
Two bodies rounding out the oversight system  
Reporting  directly  to  Executive  Management,  the  Corporate  
Responsibility  and  Sustainable  Development  (CRSD)  Department  
establishes  the  framework  governing  the  Group’s  corporate  
responsibility  strategy.  It  coordinates  action  plans,  manages  
reporting, and analyses and assesses performance. It is supported by  
the  relevant  departments  and  divisions  and  a  network  of  
representatives within each entity.  
Corporate Responsibility and Sustainable Development  
Committee  
The  Corporate  Responsibility  and  Sustainable  Development  
Committee  (CRSD  Committee)  is  chaired  by  the  Deputy  Chief  
Executive  Officer  and  coordinated  by  the  CRSD  Director.  Other  
members of this committee include the Sustainability Officer (who  
chairs the GESC), the Group Purchasing Director, the IT Director, the  
Internal Control Director, the Property Director, the Marketing and  
Communications Director, business and operations representatives,  
and representatives of the subsidiaries.  
Its role is, in particular, to help entities take account of corporate  
responsibility goals and manage risks so as to:  
Structure policies;  
p
The  Committee’s  role  is  to  monitor  the  roadmap  and  progress  
against associated action plans, in relation to strategic priorities. It  
monitors  progress  on  the  Group’s  various  corporate  responsibility  
programmes.  
Define  shared  indicators  to  improve  the  consistency  and  
coordination of the corporate responsibility strategy.  
p
Each  year,  the  strategy,  issues  and  key  achievements  relating  to  
corporate  responsibility  are  presented  for  discussion  to  the  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee of the Board of Directors.  
Corporate Responsibility Advisory Board  
The purpose of the Advisory Board is to provide external feedback  
on the various components of the Group’s corporate responsibility  
approach.  It  consists  of  four  external  experts  and  key  Group  
managers with responsibility for business units and major issues. In  
light of the coronavirus crisis, the Board met only once in 2020.  
Market Responsibility unit  
This  unit  works  with  operational  departments  to  help  respond  to  
requests  from  the  Group’s  clients  and  partners.  The  unit  is  
coordinated  by  the  CRSD  Department  at  Group  level.  It  is  
managed in close cooperation with Group departments responsible  
for  overseeing  programmes  that  fall  within  their  scope:  Internal  
Control, Legal and Purchasing.  
In 2020, the Advisory Board’s membership included the following  
four independent experts:  
Marie-Ange  Verdickt,  former  Director  of  Research  and  Socially  
p
Responsible Investment at La Financière de l’Échiquier, a company  
director  working  with  institutions  that  champion  social  
development;  
Responsible Employment unit  
Responsible  employment  is  overseen  by  the  Group  Human  
Resources Department. This department coordinates work on issues  
linked  to  attracting  talent,  developing  skills,  fostering  workplace  
well-being and promoting equal opportunity and diversity. It works  
with  Executive  Management  to  determine  employee  policy  and  
implement  associated  programmes.  It  produces  annual  reporting  
covering all its actions.  
Patrick Bourdet, former founder and Chairman and CEO of Areva  
Med,  an  executive  consultant  and  coach  working  with  
educational and child welfare bodies;  
p
Mark  Maslin,  Professor  of  Climatology  at  University  College  
London  (UCL),  an  expert  in  climate  change  and  author  of  
numerous studies and publications on climate issues;  
p
Frédéric Tiberghien, an honorary member of France’s Council of  
State,  Chairman  of  Finansol  and  Honorary  Chairman  of  ORSE  
Environmental Responsibility unit  
p
This  unit  manages  the  programme  to  reduce  the  environmental  
impact  of  the  Group’s  activities  and  its  action  to  combat  climate  
change. It works day-to-day with departments, both central (such as  
Real  Estate  and  Purchasing,  Information  Systems,  Industrial)  and  
operational,  and  reports  its  activities  and  achievements  annually.  
The unit, which is overseen by the CRSD Department, is supported  
by  a  network  of  environment  correspondents  spanning  all  entities  
and countries.  
(Observatoire  
de  
la  
Responsabilité  
Sociétale  
des  
Entreprises  Observatory of Corporate Social Responsibility).  
A  new  environment  and  climate  expert,  Jan  Corfee-Morlot,  joined  
the Committee in January 2021. Having previously headed up the  
OECD’s  environment  and  climate  development  programme,  Jan  
Corfee-Morlot is now a Senior Advisor to the New Climate Economy  
project and lead author for the Intergovernmental Panel on Climate  
Change (IPCC).  
The  Group  Environmental  Sustainability  Committee  (GESC)  is  
responsible  for  the  Group’s  environmental  programme,  including  
climate  issues.  It  works  with  the  network  of  environment  
correspondents in each country. The GESC meets every two months  
The  Group’s  corporate  responsibility  policies  and  strategies,  
including their social and environmental aspects, are subject to the  
same  governance  process  and  the  same  controls  and  disclosure  
procedures that apply to financial management.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
103
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CORPORATE RESPONSIBILITY  
Sopra Steria: A committed and responsible Group, making a sustainable, human and enlightened contribution  
On  environmental  matters,  the  GESC  puts  forward  the  most  
significant results, risks and opportunities to the CRSD Committee  
for  analysis;  the  CRSD  Committee  in  turn  passes  on  significant  
results to the Internal Control department.  
Euronext Vigeo Europe 120;  
p
p
p
p
p
p
p
p
Euronext Vigeo Euro 120;  
CDP Environment ESG FR EW;  
Euronext CDP Environment FR EOGE;  
Euronext CDP Environment FR EW;  
Ethibel Sustainability Index (ESI) Excellence Europe;  
Ethibel Sustainability Index (ESI) Excellence VM;  
Gaïa Index.  
Internal  control  representatives  in  each  country  also  notify  the  
Internal  Control  department  of  potential  risks.  The  Internal  Audit  
department carries out an independent audit of these risks. These  
two departments regularly meet to exchange information and may  
present the most significant climate issues to the Group Executive  
Committee, which has authority to make decisions on such issues.  
They  also  present  such  issues  to  the  Audit  Committee  and  the  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee.  
1.3. Overview of reporting scope  
The  Corporate  Responsibility  Report,  presented  in  the  2020  
Universal Registration Document, aims to set out the non-financial  
information that is most relevant to the Group in the context of its  
business model, its activities, main issues arising from the materiality  
matrix and the main risks facing the Group.  
1.2. Major recognition  
In  2020,  the  Group  received  major  recognition  in  the  areas  of  
corporate responsibility and sustainable development.  
The  information  required  to  draw  up  this  report  is  collected  in  
accordance with a reporting procedure, available on request from  
Sopra Steria’s  CRSD  Department.  This  procedure  is  reviewed  
annually  to  take  into  account  changes  in  the  Group’s  scope  and  
reporting  approach  and,  with  effect  from  2018,  new  regulatory  
requirements  arising  from  Ordinance 2017-1180  of  19 July  2017  
on disclosure of non-financial information.  
The Group is ranked at Platinum level by EcoVadis, putting it in  
the top 1% of 3,200 companies assessed by EcoVadis in the area  
of corporate responsibility for the second year running.  
p
Based on regulations in force and taking into account the specific  
nature of its business activities, Sopra Steria measures the Group’s  
progress in four areas: Workforce, Society, Environment, Ethics and  
Compliance.  
For the fourth year running, the CDP has awarded Sopra Steria its  
p
highest  distinction  by  including  the  Group  on  its  A  List  in  
recognition  of  the  performance  and  transparency  of  its  
environment  and  climate  programme.  The  Group  is  among  the  
top 2.8% of 9,600 companies assessed by the CDP.  
The  environmental  reporting  presented  complies  with  the  
framework  proposed  by  the  CDSB(1)  
recommendations.  
 
and  with  TCFD(2)  
MSCI: the Group was awarded an MSCI ESG rating of AA for the  
p
third year running.  
This  report  includes  a  significant  amount  of  information  
pertaining to Articles L. 225-100 and L. 225-102 of the French  
Commercial  Code  and  Articles 70  and  173  of  the  Energy  
Transition  for  Green  Growth  Act,  its  implementing  decree  
2017-1265  of  9  August  2017,  consistent  with  the  general  
principles  laid  down  in  the  guidelines  of  the  GRI  (Global  
Reporting Initiative) and aligned as closely as possible with the  
core  subjects  addressed  by  ISO 26000.  A  cross-reference  table  
covering non-financial information included in the Statement of  
Non-Financial  Performance  has  been  added  as  an  appendix  to  
this  document.  The  relevant  information  is  set  out  in  the,  
“Management  Reports  table”  Section,  of  this  Universal  
Registration Document (page 313).  
Vigeo: rated Advanced level, with a score of 62 out of 100, the  
Group ranks second in the European IT and telecoms sector.  
p
Lastly,  the  Sopra  Steria  Group  has  been  included  in  rankings  
produced  by  two  French  media  organisations,  in  partnership  with  
Statista:  
2021  ranking  of  “France’s  most  responsible  companies”  
published by Le Point: eighth in the overall ranking and second  
in the IT and telecoms sector, as well as:  
p
10th out of the top 50 companies in the Environment category,  
14th in the Social category;  
Challenges:  11th out  of  75  companies  in  the  “Climate  
Champions” ranking;  
p
p
Sopra  Steria  earned  a  score  of  A  in  CDP’s  2020  Supplier  
Engagement  Leader  assessment  for  its  leadership  and  
performance in engaging its suppliers on climate change.  
Furthermore,  pursuant  to  the  seventh  paragraph  of  
Article L. 225-102-1 of the French Commercial Code, Sopra Steria  
has appointed Mazars as independent third party to verify that the  
Statement  of  Non-Financial  Performance  complies  with  the  
provisions  laid  down  in  Article R. 225-105  of  the  French  
Commercial  Code  and  that  the  information  provided  pursuant  to  
point 3 of the first and second paragraphs of Article R. 225-105 of  
the  French  Commercial  Code,  disclosed  in  this  report  pursuant  to  
Article R. 225-105-2 of the French Commercial Code, is truthful.  
In 2020, in recognition of its environmental, social and governance  
(ESG)  performance,  the  Group  was  included  in  the  following  
indices:  
Euronext Eurozone ESG Large 80;  
p
Euronext Eurozone 300;  
p
(1) CDSB: For more information, see the Glossary on page 308.  
(2) TCFD: For more information, see the Glossary on page 308.  
104  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
4
CORPORATE RESPONSIBILITY  
Sopra Steria: A committed and responsible Group, making a sustainable, human and enlightened contribution  
Definitions of social indicators  
All  Sopra Steria  Group  businesses  in  a  given  country  
p
(Sopra Steria  France,  Sopra Steria  UK,  Sopra Steria  
España, etc.).  For  each  country,  all  Sopra Steria  Group  
subsidiaries  are  included  (Sopra  Banking  Software,  Sopra  HR  
Software,  I2S,  CIMPA,  Beamap,  Cassiopae,  Galitt,  2MoRO,  
it-economics, APAK, SAB, etc.).  
Unless otherwise indicated, indicators are calculated on the basis of  
numbers of employees on permanent and temporary contracts and  
internship agreements. The following definitions are used:  
Permanent contract: Full-time or part-time employment contract  
p
entered into with an employee for an indefinite period;  
As regards the scope of workforce indicators:  
p
Fixed-term contract: Full-time or part-time employment contract  
p
Companies  consolidated  in  2019  (SAB  and  Sopra  Banking  
Software  Senegal)  and  the  joint  venture  formed  with  Sopra  
Financial  Technology GmbH  are  included  in  all  indicators  
shown.  Neosphères,  also  acquired  in  2019,  is  now  fully  
consolidated by Sopra HR Software France. ADN’Co, which was  
acquired  in  January 2020  and  consolidated  by  Galitt  with  
effect from 1 September 2020, is an exception: indicators for  
Galitt include employees of ADN’Co (30 employees),  
entered  into  with  an  employee  and  expiring  at  the  end  of  a  
specific  period  or  on  completion  of  a  specific  task  lasting  an  
estimated period;  
Frequency  rate  of  workplace  accidents  in  France:  Calculated  in  
p
business  days,  using  the  following  formula:  (Number  of  
workplace  accidents  with  work  stoppage  ×  1,000,000)/Total  
number of hours worked by total workforce in the year;  
Severity  rate  of  workplace  accidents  in  France:  (Number  of  
p
For  Sodifrance,  cxpartners,  Soft-Maint,  Anteo  Consulting,  
Anteo E-Business Solutions and Mia Software, which joined the  
consolidated  Group  during  2020,  only  the  “Total  workforce  
Sc.qt.2.5”  indicator  will  be  calculated.  The  scope  will  be  
specified for each indicator;  
working  days  lost  due  to  workplace  accidents  ×  1,000)/Total  
number of hours worked by all employees during the year. Work  
stoppages continuing on from the previous year are not counted.  
Work stoppages continuing on as a result of workplace accidents  
that occurred the previous year are not counted;  
As  regards  the  scope  of  environmental  indicators  (CDSB  
p
Absence rate: Calculated in business days and on the basis of the  
p
REQ-07/TCFD)(1)  
:
average  full-time  equivalent  workforce.  It  takes  into  account  
absences  for  illness,  workplace  accidents  and  accidents  while  
travelling.  It  corresponds  to  the  ratio  of  the  number  of  actual  
calendar days’ absence and the number of work days theoretically  
available;  
Headcount  at  companies  acquired  during  2020  (Sodifrance,  
ADN’Co,  cxpartners  and  HoloCare AS)  is  included  when  
calculating all indicators,  
The scope of 2020 environmental reporting spans all entities over  
which the Group has both financial and operational control. The  
NHS  SBS,  SSCL  and  Sopra  Financial  Technology GmbH  joint  
ventures are thus included in all indicators;  
Percentage of employees with a disability: total employment units  
p
accounted for by employees with a declared disability (“disabled  
employment  units”  in  France),  multiplied  by  1.5  where  allowed  
under  the  rules  applied  by  French  government  agency  Agefiph  
(which  promotes  employment  for  people  with  disabilities),  
divided  by  the  size  of  the  relevant  workforce.  The  workforce  
numbers used are also calculated according to the rules defined  
by Agefiph.  
As regards reporting policy (CDSB REQ-08/TCFD)(1)  
:
p
To check consistency between financial and non-financial reporting,  
some  structural  indicators  common  to  both  areas  are  compared  
and verified at various levels of detail,  
A  snapshot  of  the  reporting  process  and  reporting  tools  
relating  to  this  report  is  set  out  in  the  reporting  protocol  
available on request from Sopra Steria’s CRSD Department;  
Scope of reporting  
To ensure compliance with regulations, the Group has developed a  
reporting process for collecting the relevant data and leveraging the  
results in this document.  
As regards the reporting period (CDSB REQ-09/TCFD)(1)  
:
p
Corporate responsibility reporting covers the calendar year from  
1 January to 31 December 2020. Any exceptions to calendar  
year reporting are indicated in respect of the data concerned,  
The following information (required by Article L. 225-102.1 of the  
French Commercial Code) has been excluded since it does not apply  
to Sopra Steria Group’s business: combating food waste and food  
insecurity,  promoting  animal  welfare  and  responsible  food  
production.  
To  check  consistency  between  financial  and  non-financial  
reporting, some structural indicators common to both areas are  
compared and verified at various levels of detail.  
Sopra Steria’s  corporate  responsibility  policy  applies  to  all  Group  
entities. The headcounts provided in the workforce section of this  
report  and  used  in  certain  environmental  indicators  include  all  
Group employees.  
An overview of the reporting process and reporting tools relating to  
this report is set out in the reporting protocol available on request  
from Sopra Steria’s CRSD Department.  
No corrections have been noted in relation to data published in  
p
Depending on the indicator, the geographic scope is either:  
the 2019 Universal Registration Document (CDSB REQ-10/TCFD)(1)  
.
The full worldwide scope of Sopra Steria Group businesses (i.e.  
p
Sopra Steria Group);  
(1) CDSB REQ: For more information, see the Glossary on page 308  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
105
4
CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
2.
Social responsibility: A committed and responsible  
collective effort  
The  Group  is  a  participant  in  the  United  Nations  Global  Compact  
and supports the UN Sustainable Development Goals 3, 4, 5, 8, 10,  
11 and 17 related to employment.  
2.1. 2020 context  
The  unprecedented  economic  crisis  resulting  from  the  Covid-19  
pandemic  has  had  a  range  of  effects,  from  declines  in  business  
levels  and  a  sharp  slowdown  in  recruitment  to  cancellations  of  
events  and  the  need  to  move  training  online,  with  a  pronounced  
impact on most indicators.  
It  adheres  to  the  principles  and  fundamental  entitlements  of  the  
Universal  Declaration  of  Human  Rights  adopted  by  the  United  
Nations  General  Assembly  in  1948  and  the  European  Union’s  
Charter  of  Fundamental  Rights,  and  abides  by  the  eight  
fundamental conventions of the International Labour Organisation  
(ILO).  
Against  this  backdrop,  the  Group  nevertheless  took  pains  to  
maintain  and  strengthen  relationships  with  employees,  applicants  
and students across all geographies, despite lockdown measures.  
The Group is notably committed to:  
With  all  employees  working  from  home,  regular  surveys  of  the  
employee climate were carried out and support and communication  
measures implemented to ensure that the Group continued to listen  
to  and  maintain  close  contact  with  employees.  The  relevant  
information  is  set  out  in  Section 2.3.3,  “Working  conditions  and  
organisation" of this chapter (page 114).  
Complying with European Community and domestic labour law  
p
and collective bargaining agreements in each country where the  
Group operates or, if necessary, put in place measures intended  
to improve relations between management and labour;  
Upholding, in particular, freedom of association and the right to  
p
collective bargaining in each relevant country, the elimination of  
forced or compulsory labour and the effective abolition of child  
labour.  
The Group also reaffirmed its desire to maintain commitments given  
to applicants and students before the crisis so as to welcome them  
in  the  best  possible  conditions  in  spite  of  a  complex  and  
unprecedented situation.  
The  Group’s  corporate  responsibility  policy  is  aligned  with  these  
commitments. More generally, it aims to abide by the principles of  
equal  opportunity  and  non-discrimination.  The  goal  is  foster  a  
caring  work  environment  where  everyone  feels  recognised  and  
valued irrespective of origin, gender, age or disability.  
2.2. Responsible employment  
challenges  
Digital technology is a strategic sector of the economy and a real  
necessity  at  a  time  when  society  must  reinvent  itself  while  also  
maintaining a long-term vision.  
The  Group’s  ambition  is  to  attract  the  best  professionals  and  
anticipate  future  skills  requirements  through  a  broad  training  
offering.  These  ambitions  and  a  working  environment  nurturing  
professional development and well-being help to attract and retain  
its talent.  
The Sopra Steria Group is transforming itself to increase its value to  
clients by addressing their business challenges, combining its various  
service  offerings  as  part  of  an  end-to-end  approach  and  
incorporating digital technology at every level. It seeks to continually  
develop the abilities of its teams, to ensure that they can constantly  
adapt to technological and market changes.  
Governance  
All matters relating to talent management, employee training and  
diversity  are  managed  by  the  Group  Human  Resources  Director,  
supported  by  a  network  of  country  and/or  subsidiary  Human  
Resources  Directors.  The  Group  Human  Resources  Director  reports  
directly  to  Sopra  Steria’s  HR  Transformation  Director,  who  is  a  
member of the Executive Committee.  
Against  this  backdrop,  Sopra Steria’s  ambitions  in  relation  to  
responsible employment practices entail five types of challenges for  
the Group:  
As regards attractiveness, attracting and retaining the very  
p
best digital professionals to support the Group’s development;  
As regards skills maintenance and development, maintaining  
p
and  developing  employees’  skills  to  proactively  meet  clients’  
current and future needs;  
As regards diversity and equal opportunity, addressing major  
p
public interest issues and preventing any form of discrimination,  
with a focus on promoting access to employment for people with  
disabilities,  gender  equality  in  the  workplace  and  access  to  
employment for young people;  
As  regards  labour  relations,  forging  with  employee  
p
representatives a constructive dialogue and negotiations to plan  
ahead for and support the major changes affecting the Group;  
As  regards  health  and  safety,  offering  an  environment  
p
conducive to quality of life in the workplace.  
106  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
Given the nature of the Group’s business, not all the labour-related  
challenges set out above are main risks for the company as defined  
in the Statement of Non-Financial Performance. Only attractiveness  
and  skills  maintenance  and  development  are  main  risks  for  the  
Group and treated as such in the “Risk factors” section. The relevant  
information is set out in Section 1, “Risk factors”, chapter 2 of this  
Universal Registration Document (pages 36 to 42).  
An ongoing career and skills assessment and development  
process  to  maintain  staff  employability.  The  relevant  
information  is  st  out  in  Section 2.2.2,  “Maintaining  and  
developing skills”, of this chapter (pages 108 to 109),  
An  international  Group  employee  share  ownership  
programmeto give all employees a more meaningful stake in  
the company’s performance.  
Policies,  actions  and  achievements  associated  with  these  five  
challenges are described below.  
2020 achievements  
Attractiveness:  Many  events  continued  to  run,  with  modules  
p
and forums adapted to a digital format. Virtual events were held  
to maintain ties with students and give them opportunities to get  
to  know  the  Group’s  business  areas.  The  Group’s  position  in  
rankings was affected by the Covid-19 crisis. Since rankings rely  
on  a  certain  volume  of  responses,  some  organisations  decided  
not  to  produce  a  ranking  this  year  due  to  low  numbers  of  
responses.  
2.2.1. ATTRACTING AND RETAINING MORE TALENT
Employee engagement, motivation and skills are key factors in the  
Group’s  success  and  depend  on  its  ability  to  attract  and  retain  
talent.  
To  attract  and  retain  more  talent,  the  Group  must  be  a  leading  
player in the digital sector, acting boldly and decisively. To meet this  
challenge,  three  innovative  policies  have  been  implemented  to  
promote  close  contact  with  applicants  and  employees  through  
personalised  support.  These  policies  form  part  of  a  long-term  
strategy  aimed  at  ensuring  the  transparency  of  our  HR  practices.  
They are broken down as follows:  
614 school initiatives, compared with 1,000 in 2019 (76% of  
scope:  Belgium,  Denmark,  France,  Germany,  India,  Italy,  
Morocco, Norway, Poland, Spain, United Kingdom),  
LinkedIn:  23%  more  followers  (336,762  compared  with  
274,000 in 2019),  
The employer brand policyaims to increase awareness of the  
p
Sopra Steria recognised by employees and applicants:  
Group  among  applicants  and  employees  through  HR  marketing  
and  communications  campaigns  designed  to  share  the  Group’s  
values;  
Happy  Trainees  France:  while  Sopra  Steria  was  once  again  
accredited  in  2020,  no  ranking  was  drawn  up  due  to  the  
Covid-19 crisis. For reference, Sopra Steria ranked ninth in the  
2019 Happy Trainees ranking,  
Recruitment  policy  is  based  on  the  principles  of  equal  
p
opportunity  and  non-discrimination.  This  proactive  policy  
contributes to the national effort to foster access to employment  
for  young  people  by  taking  on  young  graduates,  interns  and  
work-linked  training  students.  It  is  aligned  with  new  uses  for  
digital technology and the transparency demanded by today’s job  
seekers. This policy is structured around four types of actions:  
Happy Trainees World: the Group was not accredited in 2020  
due to the difficulty of hosting interns and work-linked training  
students  in  some  countries  as  a  result  of  the  Covid-19  crisis.  
The Group ranked seventh in the 2019 Happy Trainees World  
ranking,  
Promoting jobs in the digital field to attract more young people  
and, in particular, women,  
Happy Candidates: the Group was certified for the second year  
running,  
Making  a  meaningful  difference:  offering  an  enriching  
experience  through  innovative  civic  projects.  The  relevant  
information  is  set  out  in  Section 2.2.3,  “Diversity  and  equal  
opportunity”, of this chapter (pages 109 to 111),  
Potential park: Sopra Steria held on to its place in the top 20.  
Technical problems meant the Potential park audit could not be  
carried  out  under  optimal  conditions,  resulting  in  the  Group  
falling four places (from 15th to 19th among French companies  
in  the  top  100  CAC 40  and  SBF 120  companies  ranked  in  
relation  to  their  use  of  digital  channels  for  recruitment  in  
2019),  
Facilitating transparency to meet applicants’ expectations: free  
exchanges between employees and applicants via platforms like  
PathMotion and Glassdoor,  
Universum:  amid  the  unprecedented  circumstances  of  2020,  
Sopra Steria maintained its connections with students by way  
of  virtual  events.  The  Group  needs  to  further  step  up  its  
presence in schools to build its relationships with students, thus  
strengthening  the  Group’s  position  as  a  preferred  employer.  
Down six places from 75th to 81st place, based on a sample of  
36,917 students,  
Fostering  international  mobility:  offering  students  and  
employees opportunities to broaden their career paths;  
The  retention  policy  seeks  to  respond  to  employees’  
expectations  and  needs.  It  is  based  on  a  robust  induction  and  
integration  programme  and  supported  by  close  relationships  
between  management  and  staff.  The  induction  and  integration  
programme is a key ingredient in the retention not only of new  
recruits but also of employees joining the Group through mergers  
and acquisitions. The policy is served by an action plan structured  
around three key areas of focus:  
p
The  Group  was  recognised  as  an  “Open  Company”  by  
Glassdoor;  
Mobility: the internal mobility portal was overhauled and is now  
accessible  to  all  Group  entities  in  France.  There  were  78  
intragroup staff transfers in 2020 (275 in 2019), but no interns or  
work-linked training students (76 in 2019), and 13 destinations,  
compared with 17 in 2019;  
p
A specific inductionprocess adapted to the appropriate level  
of  experience,  together  with  a  common  “Get  on  board”  
seminar aimed at all new recruits. There are two tracks: one for  
young  people  and  the  other  tailored  to  inductees’  seniority.  
These two processes help new recruits gain an understanding  
of and share the Group’s culture, values and fundamentals  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
Recruitment:  the  Group  maintained  commitments  given  to  
HUMPACT  
p
applicants who had signed an employment contract or internship  
agreement before the first lockdown was announced in March.  
However:  
Sopra Steria came in second place, out of a total  
of 250 companies analysed in France, in the 2020  
Grand  Prix  Humpact  Emploi  France,  a  ranking  
released by the ESG rating agency Humpact that  
recognises  companies  having  implemented  the  
With  lockdown  measures  severely  affecting  the  global  
economy, the number of new hires declined correspondingly;  
6,133 new hires (vs. 10,844 in 2019), with an increase in the  
proportion of women (34%, vs. 33.1% in 2019). Recruitment  
remained  strong  among  under-25s,  accounting  for  29.5%  of  
new hires (vs. 35% in 2019),  
most exemplary social policies for employment in France.  
2019-2021 performance indicators  
The  number  of  interns  and  work-linked  training  students  
declined significantly: 846 interns hosted in 2020, vs. 1,562 in  
2019 (64% of scope: Austria, Belgium, France, Germany, Italy,  
Luxembourg,  Morocco,  Poland,  Spain,  Switzerland  and  
Tunisia); 557 work-linked training students in 2020, vs. 837 in  
2019 (41.8% of scope: France),  
Target of scoring 4/5 on Happy Trainees world within three years:  
no score in 2020. For reference, 3.88 out of 5 in 2019, in line  
with target (put on standby due to Covid-19).  
p
Target  of  a  25%  increase  in  social  media  followers:  up  23%  in  
p
2020.  These  figures  underscore  the  level  of  interest  and  
engagement in the Group’s communities. It should be noted that  
Sopra  Steria  opted  to  post  less  in  2020  and  reassessed  the  
number of campaigns planned to promote the Group’s activities.  
Retention:  keeping  in  contact  with  and  retaining  employees  
were both key priorities. The induction process was adapted to a  
virtual  format  as  soon  as  the  first  lockdown  was  announced  in  
March to ensure that new recruits were given a proper welcome.  
A  major  HR  communications  campaign  was  also  rolled  out,  
including  working  from  home  best  practice  guides,  in-house  
surveys, regular communications, and so on,  
p
Target  of  increasing  %  of  employees  under  30:  up  
0.2 percentage  points  between  2019  and  2020,  in  line  with  
target.  
p
2.2.2. MAINTAINING AND DEVELOPING SKILLS
Overhaul  of  the  induction  process:  the  new  induction  
programme, “Immediate Boarding”, offering a range of online  
training options, guides and training sessions, was rolled out in  
digital  format.  Three  face-to-face  sessions  and  15  remote  
sessions  were  held,  delivering  training  to  over  1,500  new  
recruits  in  an  immersive  and  innovative  environment.  This  
training  included  input  from  key  internal  stakeholders,  video  
interviews, workshops and live feedback,  
The digital revolution, the expectations of the next generation and  
the uncertain environment we are currently navigating all mean we  
must constantly be developing our employees’ skills so as to:  
Respond even better to client expectations and serve the Group’s  
p
strategy;  
Sustain motivation and develop employee engagement;  
p
Develop performance and maintain employability.  
p
Employee  share  ownership:  an  employee  share  ownership  
programme to give all employees a more meaningful stake in  
the company’s performance.  
To meet these challenges, the Group has implemented a numberof  
initiatives:  
Annual  updates  of  the  Group’s  digital  Core  Competency  
p
Reference  Guide  to  provide  a  shared  framework  for  
understanding  our  businesses,  appraising  employees  and  
supporting career development;  
GREAT PLACE TO WORK  
Launched  in  2019,  Sopra  Steria’s  survey  of  its  
Provision  of  a  common  performance  appraisal  system  
based  on  ongoing  dialogue  between  employees  and  their  
managers and resulting in an individual development plan;  
p
entire  workforce  (82%  participation  rate),  
conducted with the help of Great Place to Work  
(GPTW),  forms  part  of  an  overarching  approach  
to  transformation  in  which  the  Group’s  
Annual implementation of the People Dynamics” process  
p
employees  are  the  key  stakeholders.  In  2020,  the  Group  
responded  to  the  needs  that  employees  had  expressed  the  
previous year, especially for more information on HR processes or  
during  review  cycles,  as  well  as  for  more  opportunities  for  
informal  chats  with  management,  by  running  workshops  in  all  
entities  to  develop  and  implement  initiatives  to  address  them:  
training of 16 Great Place to Work project managers by GPTW in  
early  2020,  networking  and  community  building,  with  
programmes  such  as  Mood  and  Morale  in  the  UK,  Together  
Sopra Steria in Spain, and Restoacasa in Italy. Norway topped the  
Great  Place  to  Work  ranking  for  the  fourth  year  in  a  row.  
Germany,  Italy  and  Switzerland  secured  Great  Place  to  Work  
certification. The Great Place to Work survey will be run again in  
2021.  
to identify far-reaching changes affecting our businesses over the  
next  one  to  three  years  (emerging  jobs  where  there  is  positive  
pressure, and/or that are sustainable or sensitive) and draw up HR  
action  plans  for  integrating,  maintaining  and  developing  the  
required current and future skills.  
These  initiatives  are  supplemented  by  a  proactive  training  policy,  
which  constitutes  one  of  the  primary  vehicles  for  adapting  our  
people’s  skills.  This  policy  is  supported  by  the  Group  Executive  
Committee  and  an  Academy.  The  goal  of  this  policy  is  to  ensure  
that the Group has access to the appropriate skills at all times and  
in all places, particularly as project cycles accelerate. To achieve this  
goal,  the  following  initiatives  are  being  implemented  across  the  
Group:  
Changes  to  the  Academy  to  make  it  more  cross-functional  and  
p
more  closely  aligned  with  each  country’s  needs:  creation  of  
business line, subsidiary and corporate Academies;  
Refresh  of  the  Academy  offering  and  training  courses,  notably  
p
including  “Group  fundamentals,  management”,  “Induction  for  
new employees”, Business-specific courses”, technology courses  
(cloud, agility, end-to-end), commerce course;  
Accelerated  digitisation  of  programmes  and  availability  of  new  
p
e-learning platforms.  
108  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
2020 achievements  
the business. This policy is implemented through specific actions to  
ensure that women are ultimately represented at every level of the  
company – particularly in management positions and on senior  
management bodies  in proportion to their percentage of the  
total workforce.  
The  circumstances  surrounding  the  Covid-19  crisis  led  to  a  more  
rapid expansion of digital training offerings. The Group also rolled  
out  a  reskilling  policy  to  address  production  overcapacity  in  some  
entities and business sectors hit particularly hard by the crisis.  
Update  and  rollout  of  the  Group’s  Core  Competency  
p
a. Increasing the proportion of women in the workforce  
and in management positions  
Reference  Guide,  now  including  video  portraits  giving  an  
overview  of  the  Group’s  businesses  to  show  them  in  a  clearer  
light (100% of scope);  
The  Group  has  implemented  a  diversity  programme  backed  by  
Executive Management, “TogetHER For Greater Balance”, to involve  
employees in an innovative collective intelligence exercise designed  
to tease out ideas and best practice. This long-term programme is  
helping raise awareness of the need to increase the proportion of  
women  in  the  digital  sector,  where  they  are  significantly  
under-represented.  It  also  aims  to  promote  initiatives  and  success  
stories, which are gathered and shared throughout the year. They  
are  made  available  via  a  dedicated  platform  accessible  to  all  
employees.  The  goal  of  sharing  initiatives  in  this  way  is  to  inject  
fresh  momentum  by  inspiring  people  and  encouraging  interaction  
between countries.  
All  employees  are  assessed  against  the  same  criteria.  There  
p
were 4,117 promotions, with women accounting for 35% of the  
total.  The  number  of  promotions  represents  9.8%  of  the  
permanent  contract  workforce  in  post  all  year  long(1)  (94%  of  
scope for promotions);  
The  scope  of  the  People  Dynamics  approach  was  extended  to  
cover the whole of the Group;  
p
Decline in the number of training hours delivered to 1,207,065  
p
hours, including 16,700 hours of reskilling, representing a slight  
decrease  of  4.4%  relative  to  2019,  when  1,263,354  hours  of  
training  were  delivered  (100%  of  scope;  workforce  excluding  
interns).  This  decline  was  due  to  several  factors,  including  the  
impact of the Covid-19 pandemic and the greater proportion of  
online  training,  with  an  average  number  of  training  hours  
adapted to the prevalence of remote training;  
The  six  types  of  initiatives  collectively  identified  and  implemented  
are as follows:  
Setting  numerical  targets  to  track  changes  in  how  well  
p
women  are  represented  within  the  workforce  and  in  
management  positions  (proportion  of  women  recruited;  overall  
proportion  of  women  in  the  workforce;  proportion  of  women  
promoted);  
In  France,  the  budget  allocated  to  training  equates  to  4.6%  of  
total payroll (42.8% of scope);  
p
Launching  Group  awareness  campaigns  under  the  
Digitisation of training offering:  
p
p
“TogetHER  for  Greater  Balance”  banner,  backed  by  Executive  
Management, to reaffirm the Group’s commitment to diversity;  
90%  of  employees  trained  through  e-learning  modules,  up  
from 88% in 2019,  
Training  employees  at  every  level  to  lead  the  cultural  and  
p
88.4%  of  employees  trained  through  e-learning  modules,  
excluding compliance modules, up from 28% in 2019,  
behavioural  change  needed  to  allow  women  to  advance  
(addressing  the  impact  of  stereotypes  on  decision  processes,  
sexual harassment, sexism, etc.);  
8%  of  employees  completed  Group  compliance  e-learning  
modules, down from 82% in 2019, given that no new Group  
compliance e-learning modules were launched in 2020.  
Supporting  career  development  for  women  through  
mentoring programmes;  
p
2019-2021 performance indicators  
Promoting role models through testimonials, talks, webinars,  
p
and  internal  and  external  multimedia  campaigns  involving  
inspiring women in the Group;  
Development of digital training offering: goal of training 30% of  
p
employees  via  digital  channels  (excluding  Group  compliance  
e-learning)  within  three  years  achieved  at  88.4%,  thus  well  
beyond the target.  
Fostering  gender  diversity  networks  to  identify  and  attract  
women in the digital sector through talks, notably at secondary  
schools and higher education institutions.  
p
2.2.3. DIVERSITY AND EQUAL OPPORTUNITY
b. Increasing the proportion of women in senior  
management positions  
The  Group  reaffirms  its  commitment  to  combat  discrimination,  
based on the principle of equal opportunity. The Group is keen to  
create  a  caring  environment  where  everyone  works  together  to  
foster  inclusion  and  well-being.  As  such,  it  endeavours  to  recruit  
employees  from  a  diverse  range  of  backgrounds  and  to  treat  all  
employees  fairly.  This  approach  is  underpinned  by  four  inclusive  
policies:  
Building  on  its  experience  with  the  gender  equality  programme  
Toget’HER for Greater Balance, the Group’s Executive Management  
has drawn up an action plan and targets to increase the proportion  
of  women  in  senior  management  positions,  in  line  with  the  
recommendations of the AFEP-MEDEF code.  
In the context of this action plan, senior management positions are  
broadly  defined  as  including  all  of  the  highest  echelons  in  the  
Group’s organisation: the Executive Committee, of course, but also  
“upper  management”,  corresponding  to  the  3%  of  employees  on  
permanent  employment  contracts  belonging  to  the  two  highest  
echelons. This second, less visible category is very important for the  
functioning  of  the  Group’s  organisation  and  includes  future  
Executive Committee members.  
A gender equality policy;  
p
A disability policy;  
p
An intergenerational policy;  
p
p
A policy promoting diversity and access to employment for young  
people.  
The gender diversity policy is designed to develop women within  
the  Group  and  support  their  career  development  at  every  level  of  
(1) A promotion corresponds to a change of level/classification relative to the permanent contract workforce at 31 December a year earlier.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
109
4
CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
On  Executive  Management’s  recommendation,  the  Board  of  
Directors has approved the following targets:  
More  women  in  the  workforce  and  in  management  
positions: women represented 32.5% of the workforce in 2020  
(32% in 2019) and 34% of new staff (33.1% in 2019), despite a  
drop  in  female  enrolments  in  information  and  communications  
technology degree programmes (13% of all students in this area  
in  2016,  down  from  15%  in  2011)(1).  Of  the  10%  most  senior  
positions, 18.6% were held by women (compared with 17.96%  
in 2019).  
p
Increasing  the  proportion  of  female  Executive  Committee  
p
members from 12% to 30%;  
Raising the proportion of women in upper management positions  
p
initially from 15% to 20%, thus a 33% increase.  
The Board of Directors has set a time frame of five years to achieve  
these  targets  (thus  by  2025).  For  several  years,  robust  measures  
have been in place to actively promote gender equality within the  
Company and its Group. These measures function well. Their results  
are evaluated each year by the Social and Economic Committee for  
France and then by the Board of Directors. Although great progress  
has  been  made  along  these  lines,  this  approach  has  not  led  to  a  
significant  increase  in  women  moving  into  senior  management  
positions. Executive Management is therefore moving forward with  
a more exacting programme, implemented for a large proportion of  
the  Group’s  workforce,  given  that  it  operates  in  an  industry  
environment  that  tends  to  be  male  dominated.  Ambitious  goals  
cannot  therefore  be  set  uniquely  by  taking  a  medium-term  view.  
Nevertheless,  the  Board  of  Directors  has  adopted  an  intermediate  
target relating to the proportion of women in upper management,  
which will need to reach 17% by mid-2023.  
A  Group  awareness  campaign,  “TogetHER  for  Greater  
Balance”, is launched annually by Executive Management. Aimed  
at  all  44,768 employees,  the  campaign  aims  to  reaffirm  the  
Group’s commitment to increase the proportion of women in the  
workforce and in management positions. Individual countries run  
their own initiatives to coincide with International Women’s Day  
on  8 March;  examples  include  lecture  series  in  the  United  
Kingdom,  France  and  Spain  where  experts  in  the  field  address  
employees and senior managers.  
p
Rollout of training programmes both Group-wide and at  
country level, for example:  
p
Group “Gender Equality Tour” training programme: 16 sessions  
were  run  in  France  as  well  as  eight  international  and  
multicultural sessions in five languages, bringing together equal  
numbers  of  men  and  women  from  16 countries,  60%  of  
whom  were  managers  (94%  of  scope:  Belgium,  Brazil,  Côte  
d’Ivoire, France, Germany, India, Italy, Luxembourg, Morocco,  
Netherlands,  Norway,  Poland,  Spain,  Switzerland,  United  
Kingdom, United States),  
Procedures for implementation  
p
The  Chief  Executive  Officer  has  put  in  place  a  specific  operational  
the proportion of women in senior management positions, which is  
being monitored by the Chairman of the Board of Directors.  
Action plan to advance female leadership (“FID”)  
p
Sexual harassment training: 3,605 employees received training  
in  preventing  sexual  harassment,  as  in  India  with  the  
long-running  Prevention  of  Sexual  Harassment  (POSH)  
programme  and  in  France,  where  the  existing  module  was  
improved  and  expanded.  A  training  programme  designed  in  
conjunction  with  representatives  of  management  and  labour  
was  launched,  with  two  pilots  rolled  out  to  a  group  of  HR  
Directors  and  employee  representatives.  The  programme  is  to  
be rolled out to all employees in 2021;  
The aim of this action plan is to help more women move into roles  
at the Group’s highest levels and ultimately to ensure that they are  
represented at every level in proportion to their percentage of the  
total workforce.  
In  order  to  achieve  the  Group’s  targets,  a  set  of  initiatives  are  
required, which have been grouped into four priority areas:  
1. Proactive  plan  to  promote  female  talent  by  identifying  
candidates and facilitating their access to the highest levels of  
the organisation;  
Programmes supporting women to more quickly increase  
the proportion of women in management (47% of scope:  
France, Germany, India, United Kingdom):  
p
2. Proactive recruitment plan to help meet the targets for female  
representation  at  the  levels  concerned  alongside  internal  
promotion procedures;  
A total of 137 women took part in a mentoring programme;  
Mentoring  programmes  were  rolled  out  in  various  countries.  
These  programmes  mainly  revolve  around  training  (on  topics  
like  leadership,  building  stronger  networks,  etc.),  individual  
coaching  and  close  mentoring  by  a  member  of  the  relevant  
Management Committee or Executive Committee.  
3. Adjustments  to  HR  and  managerial  practices  to  encourage  
gender  equality,  for  example  by  ensuring  participation  by  
women  in  the  HR  structures  for  manager  evaluation  and  
selection;  
4. Support actions for talented women to encourage and secure  
their  move  into  senior  management  positions  by  setting  up  
specific training, coaching and mentoring programmes.  
Campaigns promoting role models:  
p
p
“Super Banking Women”, a serie of 22 videos from 13 Group  
countries highlighting the careers of inspiring women at Sopra  
Banking Software shared on social media: 300,000 total views  
(8% of scope),  
The Board of Directors will monitor the implementation and results  
of this action plan and will report on its progress in the universal  
registration document. In addition, the implementation of this plan  
will be among the qualitative targets set for Executive Management  
in 2021.  
Gender  diversity  networks:  over  1,600 employees  are  
members  of  gender  diversity  networks  (in  Belgium,  Denmark,  
France,  Germany,  India  and  the  United  Kingdom)  working  for  
greater diversity in the digital sector by including more men in the  
approach.  Due  to  the  Covid-19  pandemic,  there  were  few  
opportunities  in  all  these  countries  to  give  talks  at  secondary  
schools  and  conferences.  Instead,  webinars  were  held  with  the  
aim of promoting the role of women in the digital sector.  
2020 achievements  
Group  commitment:  “In  support  of  retraining  for  women  in  
the  digital  sector”  manifesto  sponsored  by  Syntec  Numérique  
(41.8%  of  scope:  France)  to  increase  the  recruitment  of  and  
proportion of women in jobs in the digital field (33.3% of new  
hires under the retraining programme were women, vs. 32.3% in  
2019).  
p
2021  targets:  The  “FID”  action  plan  to  increase  female  
representation in senior management positions will be launched in  
2021 and will include a five-year target.  
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SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
4
CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
2021-2025 indicator: women to make up 30% of Executive  
Committee  members  and  hold  20%  of  senior  
management positions by 2025 (with an intermediate target  
of 17% for women in senior management positions by 2023).  
Introduced a phased retirement system to facilitate the transition  
to retirement.  
p
p
A diversity and youth employability policyto ensure access to  
education for all and integrate young graduates into the world of  
work. This policy is in line with the principle of equal opportunity  
and  is  geared  towards  recruiting  and  developing  talented  young  
people.  In  pursuing  this  policy,  the  Group  launches  specific  
additional  actions  for  young  people  from  disadvantaged  areas  in  
order to:  
In 2021, Sopra Steria signs the UN Women Charterand endorses  
the 7 WEPsprinciples.  
A  disability  policy  aiming  to  favour  the  recruitment  and  
continued  employment  of  people  with  disabilities  through  
innovative initiatives in the areas of recruitment, adapting the work  
environment, training and awareness.  
Provide career guidance: inform students about our business  
as soon as they enter secondary school;  
p
Listen  and  build  relationships:  help  young  people  of  
secondary school age understand the business world;  
p
The Group has reaffirmed its commitment and joined the ILO Global  
Business  and  Disability  Network,  an  initiative  run  by  the  
International Labour Organization (ILO). This network of businesses  
aims to share international best practice to improve the recruitment  
and induction of employees with disabilities.  
Provide training for digital sector jobs: foster inclusion and  
reintegration into employment for out-of-work young people.  
p
2020 achievements  
The  Group  is  committed  to  complying  with  local  legislation,  
regulations  and  recommendations  concerning  employment  for  
people with disabilities.  
385  secondary  school  and  university  students  interacted  
directly with Sopra Steria employees (41.8% of scope: France):  
p
Providing  career  guidance  to  256  secondary  school  
students from disadvantaged areas:hosted as part of their  
fourth-year work experience to learn about jobs in the digital  
sector  and  demystify  algorithms  (unplugged  activity),  in  
partnership with the non-profit organisation Tous en Stage,  
Differences  in  how  disability  is  defined  from  country  to  country  
mean we are not able to collect consistent and comparable data.  
2020 achievements  
The Group reaffirmed its commitment by signing the “Manifesto  
p
promoting inclusion in economic life for people with disabilities”.  
Listening  and  building  relationships:  106  secondary  
school  students  under  the  banner  of  the  HandiTutorat  
programme  in  partnership  with  nine  engineering  schools.  
23 students  in  higher  education  mentored  in  partnership  
with non-profit organisation Article 1;  
The Group signed the ILO Global Business and Disability Network  
Charter.  
p
The proportion of employees with disabilities rose: 2.21% (41.8%  
of scope: France).  
p
342  young  graduates  helped  to  move  back  into  
employment  through  training  designed  to  foster  access  to  
employment (43% of scope: France and Tunisia):  
p
Plan  put  in  place  to  listen  to  and  support  employees  with  
disabilities during the Covid-19 crisis.  
p
Awareness campaign in France and internationally.  
p
171 unemployed young people recruited and trained in digital  
skills  (France),  33.3%  of  them  women  (up  from  32.3%  in  
2019), in partnership with work integration organisations such  
as Ensemble Paris Emploi Compétences(EPEC), the Pôle Emploi  
public employment centres or the Maison des Jeunes Talents,  
Assistance for 106 secondary school students with disabilities.  
p
Employees took part in the Challenge Innovation Awards to foster  
p
the  emergence  of  solutions  that  improve  day-to-day  life  and  
increase  independence  for  people  with  disabilities.  Three  
award-winning projects outside France will be supported by the  
Mission Handicapdisability team.  
The  intake  of  171  candidates  recruited  in  Tunisia  in  2019  
continued  their  four-year  retraining  programme.  Candidates  
recruited (48% of whom are women) hold bachelor’s degrees  
Goals for 2021: Increase the proportion of employees with  
disabilities in France from 2.21% to 2.75% by 2023.  
or  equivalent  and  receive  help  towards  obtaining  
a
postgraduate  engineering  degree.  In  particular,  they  are  
awarded scholarships covering their study costs for four years,  
receive personalised mentoring to help them fit in throughout  
the programme, and follow a specific training plan;  
The  Group’s  intergenerational  policy  aims  to  attract  talented  
young people while ensuring that different generations continue to  
be represented. The Group promotes knowledge and skills transfer –  
a key component of its intergenerational policy  by appointing a  
mentor for every new recruit aged under 26.  
35 grants  awarded  to  secondary  school  and  university  
students  with  disabilities  to  support  them  through  their  
academic careers, in partnership with the FEDEEH.  
p
Goals  for  2021:  Rerun  initiatives  and  strengthen  momentum  at  
Group level.  
2020 achievements  
Balance  preserved  in  terms  of  age  representation:  7%  of  the  
p
workforce  was  under  25 years  of  age  (compared  with  10%  
in 2019) and 9.9% was over 55 (compared with 8.7% in 2019).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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4
CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
The Group’s businesses are concentrated in the service sector and  
do  not  involve  any  high-risk  activities,  notably  in  respect  of  
workplace accidents, which occur very rarely and are related purely  
to the hazards of everyday life (the Group has a very low workplace  
accident frequency rate).  
2.2.4. LABOUR RELATIONS
Labour relations are a key driver of performance for an economy in  
support  of  an  inclusive  collective  underpinned  by  the  Group’s  
values.  The  Group’s  adhesion  to  the  UN  Global  Compact  is  in  
keeping with its commitment to uphold freedom of association and  
recognise  the  right  to  collective  bargaining,  in  line  with  the  
principles of the ILO’s eight fundamental conventions.  
This  policy  of  prevention  and  support  to  promote  health  and  
well-being  in  the  workplace  is  underpinned  by  a  systematic  
approach based on a five-point action plan:  
Sopra Steria  seeks  to  implement  measures  intended  to  improve  
professional relations between the company and its employees even  
in countries that do not have an institutional framework governing  
the  recognition  of  employee  representatives’  status.  
Non-discrimination  policies  and  procedures  are  implemented  with  
regard to employee representatives.  
1. Deliver  detection  and  prevention  training  and  
awareness-raising:  roll  out  training  and  awareness  plans  to  
prevent accidents and improve employee health and safety;  
2. Provide employees with a psychological counselling and  
support unit:this unit, staffed by psychologists, is completely  
independent  of  the  company  and  can  be  accessed  
anonymously, confidentially and free of charge at any time;  
Against this backdrop and in accordance with legislation in force in  
each country where the Group operates, Sopra Steria is committed  
to establishing constructive dialogue with employee representatives  
on  matters  relating  to  corporate  strategy  and  the  company’s  
economic, financial and employee policy.  
3. Analyse protection and welfare arrangements and travel  
and repatriation insurance coverin each country;  
4. Form a network of stakeholdersworking in the field;  
The  initiatives  brought  about  by  collective  bargaining  increase  
employees’  sense  of  belonging,  ensuring  that  all  staff  are  
committed to the corporate plan and that the challenges posed by  
digital transformation are met.  
5. Monitor  and  analyse  indicators  of  absence  and  workplace  
accidents.  
Governance  
The  Group  supports  and  advocates  these  principles  in  its  Code  of  
Ethics,  available  on  the  Group  website  and  thus  accessible  to  all  
stakeholders.  
The Group Human Resources Director is supported by a network of  
country and/or subsidiary Human Resources Directors. Each country  
and/or subsidiary is subject to its own country’s legislation. Health  
and  safety  committees  in  each  country  ensure  that  specific  
processes  and  measures  are  implemented  at  the  local  level.  These  
measures  concern,  in  particular,  buildings  (security  of  premises,  
furnishings, heating and air conditioning, etc.) and food (canteen,  
water, etc.).  
Governance  
Responsibility for labour relations in each country lies with the Chief  
Executive Officer and the HR Director. They are responsible for:  
Holding regular updates with representatives of management and  
p
labour to respond to employee expectations;  
2020 achievements  
Putting in place all bodies required by legislation in force in their  
country.  
p
Training and awareness-raising:  
p
Covid-19  awareness-raising  (Group):  live  events,  occupational  
stress training, guides,  
The  Group’s  governance  is  exercised  through  regular  (weekly,  
monthly  and  annual)  steering  meetings  attended  by  the  various  
companies’  HR  Directors  to  ensure  that  the  approach  to  labour  
relations is consistent with Group policy.  
Training  in  safety  rules  and  emergency  first  aid:  94.4%  of  
employees  are  covered  by  training  programmes  to  prevent  
accidents  and  improve  employee  health  and  safety  (Belgium,  
France,  Germany,  India,  Italy,  Luxembourg,  Norway,  Poland,  
Spain,  Sweden,  Switzerland,  Tunisia,  United  Kingdom,  United  
States),  
2020 achievements  
56  foundational  labour  agreements  signed  and  implemented  
(compared with 49 in 2019);  
p
Sopra  Steria  launched  new  training  for  the  Human  Resources  
function  on  quality  of  life  in  the  workplace.  This  training  is  
designed  to  boost  HR  employees’  skills  and  ability  to  address  
issues in this area,  
326 agreements in force, compared with 291 in 2019;  
p
74.2%  of  employees  covered  by  a  collective  bargaining  
agreement or company-wide agreements, compared with 71.8%  
in 2019.  
p
Health and safety training: 1,245 employees trained (41.8% of  
scope: France);  
Goal  for 2021:  Labour  relations  remain  a  main  issue  for  the  
Group’s future development and for the successful implementation  
of new agreements.  
Psychological  counselling  unit:  82.2%  of  Group  employees  
are  eligible  for  this  service  (Belgium,  France,  Germany,  India,  
Poland, Scandinavia, United Kingdom).  
p
p
2.2.5. HEALTH AND SAFETY
Continuation  of  the  exercise  to  map  personal  insurance  
and  prevention  measures  in  each  country  and  analyse  results  
(including  social  security  cover,  death  benefit  cover,  early  
retirement and retirement), exercise to be continued in 2021.  
Sopra Steria’s  workplace  health  and  safety  policy  complies  
with  regulatory  requirements  in  each  country  in  which  the  Group  
has  a  presence.  It  forms  part  of  a  preventive  approach  to  
occupational  risk  aimed  at  protecting  employees’  and  
subcontractors’  health  and  safety,  improving  their  working  
conditions and promoting workplace well-being.  
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Social responsibility: A committed and responsible collective effort  
Indicators:  
Germany, India, Scandinavia, Spain and the United Kingdom,which  
together account for 89.4% of the Group’s workforce.  
Two  occupational  illnesses  recognised  in  France  by  CPAM,  the  
p
national health insurance body (42.8% of scope: France),  
The decline in the workforce noted for the Group’s reporting scope  
(excluding  acquisitions)  is  tied  to  the  impact  of  the  Covid-19  
pandemic on the global economy, resulting in lower business levels  
across all industry sectors. This decline in business activity impacted  
the service centres in India and Spain to the greatest extent, as they  
were  hit  hard  by  the  economic  difficulties  affecting  the  aviation  
sector in particular. This was compounded, for India, by the decline  
in business process services (BPS) delivered for public sector clients  
in the United Kingdom, following the repatriation of these services  
as requested by the clients. This led to an increase in the workforce  
in  the  United  Kingdom,  because  the  services  could  no  longer  be  
delivered in teleworking in India, upon the client's request.  
The  absence  rate  was  2.5%  in  2020,  compared  with  2.6%  in  
2019 (42.8% of scope: France),  
p
The workplace accident frequency rate fell significantly in 2020 to  
1.26%, compared with 2.47% in 2019 (42.8% of scope: France).  
This decline was linked to the lockdown measures,  
p
The  severity  rate  was  0.013%,  compared  with  0.033%  in  2019  
(42.8% of scope: France). This significant decline was also linked  
to the lockdown measures.  
p
Goal for 2021: The aim is to build on initiatives launched in 2020  
amid  the  pandemic  to  continue  to  roll  out  shared  tools  for  use  
across the Group. A training and awareness campaign will be rolled  
out to employees on a phased basis to encourage them to identify  
risks  and  accidents  and  flag  them  up  to  a  network  of  designated  
representatives.  
The proportion of permanent contracts, which was slightly higher in  
2020 (96.7% in 2020, compared with 96.1% in 2019), and that of  
temporary  contracts,  which  was  slightly  lower  (2.9%  in  2020,  
compared  with  3.3%  in  2019,  excluding  interns)  demonstrate  the  
Group’s  long-standing  commitment  to  offer  stable  jobs  while  
favouring  the  professional  integration  of  young  people  on  
permanent contracts and on work placements (100% of fixed-term  
contracts  were  for  work-linked  training  students  in 2020,  
compared with 96.1% in 2019).  
2.3. Other labour-related information  
2.3.1. JOBS AND THE WORKFORCE
For many years, the Group’s growth has been backed by a proactive  
employment policy of recruiting talented individuals and developing  
employees’ skills.  
The Group’s employee attrition rate of 13.6% marked a significant  
decline (17.7% in 2019). This decrease is a result of the economic  
impact of the Covid-19 crisis.  
External growth is also a strong driver of the Group’s development  
and increased business volumes. Thanks to the various acquisitions  
completed  in 2020  (1,192 employees),  the  Group  can  offer  a  
comprehensive  response  to  its  clients’  needs  in  the  areas  of  
transformation and competitiveness.  
In France, redundancies or dismissals accounted for 2.4% employees  
leaving  the  Group  in  2020,  compared  with  2.3%  in  2019  (scope:  
France).  
The  age  pyramid  illustrated  below,  showing  a  breakdown  of  the  
Group’s workforce (excluding acquisitions) by gender and age, has  
remained stable for the past three years, with a very slight increase  
in  the  proportion  of  women,  particularly  in  the  35-45  and  25-35  
age brackets.  
At  31 December  2020,  Sopra Steria  Group  had  a  total  of  
45,960 employees (44,768 employees excluding 2020 acquisitions,  
compared  with  45,153  at  end-2019),  mainly  based  in  France,  
The average age of employees on permanent contracts is 38.7 years (compared with 37.8 in 2019), with an average length of service of  
7.7 years (compared with 7.1 years in 2019), a slight increase from 2019 due mainly to the decline in recruitment.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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4
CORPORATE RESPONSIBILITY  
Social responsibility: A committed and responsible collective effort  
The proportion on women in the Group’s workforce increased very  
slightly, from 32% in 2019 to 32.5% in 2020, with women holding  
29.9%  of  engineering,  consulting  and  project  management  
positions  (up  from  29.3%  in  2019).  It  remains  higher  than  the  
overall  proportion  of  women  in  scientific  careers  (28%).  Progress  
was  made  in  Spain  and  the  United  Kingdom,  with  a  significant  
increase in the proportion of women recruited in these countries.  
Variable  compensation:  to  encourage  individual  and  collective  
performance for some employees, notably managers, sales staff  
and experts;  
p
p
An international Group employee share ownership programme to  
give  all  employees  a  more  meaningful  stake  in  the  company’s  
performance.  
2020 achievements  
2.3.2. COMPENSATION
The  ratios  set  out  below  are  the  fruit  of  a  policy  aimed  at  
p
harmonising HR processes so as to promote fair treatment across  
all countries in which the Group operates:  
The Group’s compensationpolicyis a management tool based on  
recognising  each  individual’s  contribution  to  the  Group’s  
performance, over and above the requirements of local legislation. It  
is  based  on  the  principle  of  fair  treatment  and  supported  by  a  
system  of  personalised  annual  performance  appraisals  for  all  
employees.  Compensation  offered  is  in  line  with  local  regulations  
and exceeds the minimum wage (where one exists) in countries in  
which the Group has a presence.  
Ratio for the top 1 % of high earners in the Group (99.9% of  
the Group excluding interns, work-linked training students and  
acquisitions): 86.9 % of employees work in a country where the  
average  of  the  top  1  %  of  salaries  is  less  than  4.5 times  the  
average  salary  in  the  country,  a  higher  percentage  than  in  
2019,  
Principles  governing  the  breakdown  of  and  changes  in  
compensation  apply  across  the  Group  and  are  based  on  the  
following:  
Senior executive fairness ratio: The relevant information is  
set out in Section 3.2, Fairness ratio”, chapter 3, "Corporate  
Governance" of this Universal Registration Document (pages 91  
to 95).  
Fixed  compensation:  in  keeping  with  the  level  of  responsibility,  
p
consistent with the Group’s Core Competency Reference Guide;  
RATIO OF THE AVERAGE TOP 1% OF SALARIES TO THE AVERAGE ANNUAL SALARY  
%
2020*  
%
%
(2019)**  
(2018)***  
Under 4.5  
4.5 ≤ x ≤ 5  
Over 5  
86.9%  
13.0%  
0.0%  
85.5%  
14.4%  
0.2%  
84%  
16%  
0%  
*
99.9% of the Group workforce (excluding interns and acquisitions).  
** 99.8% of the Group workforce (excluding Cassiopae Tunisia, interns and acquisitions).  
*** 78% of the workforce (Benelux, France, India excluding Cassiopae, Italy, United Kingdom and Scandinavia; excluding interns and acquisitions).  
communications campaigns, guides for managers and employees,  
and specific training programmes.  
2.3.3. WORKING CONDITIONS AND ORGANISATION
The Group’s policy on the organisation of work schedules, designed  
to  promote  work/life  balance,  is  structured  around  a  five-point  
action plan:  
Well-being  was  a  major  focus  of  attention,  with  the  HR  
community  focusing  on  working  conditions  for  each  and  every  
employee. Listening and support mechanisms were put in place.  
p
p
Ensuring a satisfactory work rate;  
p
6.1% of Group employees were part-time (compared with 5.9%  
in 2019). Part-time working is never a requirement: it depends on  
both the employee’s individual choice and compatibility with the  
department or project concerned.  
Valuing day-to-day work;  
p
Prompting healthy ways of working;  
p
Managing teams with care and authenticity;  
p
Tools were rolled out to facilitate working from home: practical  
guides  for  managers  and  staff,  webinars  on  workplace  
ergonomics.  
Promoting healthy lifestyles and a healthy environment.  
p
p
p
p
All Group countries switched to working from home to limit the risk  
of spreading Covid-19.  
Work/life balance: the right to disconnect” was introduced and  
working from home was rolled out across all countries as aresult  
of the Covid-19 crisis (70.4% in 2019).  
2020 achievements  
As  a  result  of  the  Covid-19  crisis,  new  working  arrangements  
were introduced in 2020, with all employees Group-wide working  
from  home.  These  new  arrangements  were  supported  by  
p
SBS  Wellness  Programme:  25  remote  sports  sessions  were  run,  
with  an  average  of  90 employees  per  session  (5.7%  of  scope:  
France, Benelux, MEA, Germany).  
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CORPORATE RESPONSIBILITY  
Societal responsibility: Engaging all our stakeholders to build a positive future for all  
3.
Societal responsibility: Engaging  
all our stakeholders to build  
a positive future for all  
Sopra Steria is a leading partner in digital transformation for major  
companies  and  organisations. With  the  world  in  the  grip  of  an  
economic  and  social  crisis,  it  is  vital  that  we  continue  to  develop  
relationships  of  trust  and  transparent  dialogue  with  our  
stakeholders. The  Group  stepped  up  its  interaction  with  
stakeholders in 2020 by involving them in its commitments to the  
environment, diversity, equal opportunities and the most vulnerable  
populations.  The  Group  also  makes  all  the  expertise  and  tools  
developed for its environmental programme available to clients to  
help them address their challenges.  
3.1. Creating value for shareholders  
In an approach where collective action is essential, we are working  
with our staff, our customers, our partners, our suppliers and civil  
society to provide sustainable answers. Together, we want to take  
responsible and ethical steps to make innovation work for as many  
people as possible and have a positive impact on society as a whole.  
3.1.1. SUMMARY OF VALUE CREATION FOR
STAKEHOLDERS
Sopra Steria is a signatory to the United Nations Global Compact in  
the Global Compact Advanced reporting category and supports the  
Global  Compact’s  ten  principles  in  the  areas  of  human  rights,  
international  labour  standards,  the  environment  and  
anti-corruption.  
Thanks to the relevance of its policy and associated programmes to  
addressing key social issues, the Group is one of the most engaged  
and  high-performing  businesses  in  the  area  of  corporate  
responsibility.  
To  help  it  be  a  “contributor”  company  and  build  a  sustainable  
world,  Sopra  Steria  engages  all  its  stakeholders  in  a  collaborative  
approach that generates value for all.  
Sopra Steria  responds  to  the  United  Nations  Sustainable  
Development Goals 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 16 and  
17 related to society.  
Amid  the  Covid-19  crisis,  the  Group’s  teams  have  been  working  
with  the  whole  of  Sopra  Steria’s  ecosystem  to  develop  innovative  
business  continuity  solutions  for  clients  and  help  the  most  
vulnerable individuals.  
SUMMARY OF RECOGNITION RECEIVED AS WELL AS COMMITMENTS AND INITIATIVES TO SUPPORT STAKEHOLDERS  
Rise to second place in KPMG and Syntec Numérique’s 2020 Grand Angle digital services and ICT  
p
company ranking  
Sopra Steria targets "net zero" emissionsby 2028  
p
p
Ecovadis “Platinum”level certification achieved in 2020 and ranked among the top 1%of companies  
assessed by EcoVadis for the second year in a row  
CDP A Listfor the fourth consecutive year reflecting the Group’s environmental performance  
p
p
NelsonHall:ranked among the leaders in digital experience consulting servicesand recognised as a  
leader in cloud infrastructure brokerage and orchestration services  
ISG Provider Lens :leader in four areas of its Public Cloud - Solutions Services study  
p
p
Second place in the IT and telecoms sector in Le Point’s ranking of France’s most responsible  
companies  
Sopra Banking Software ranked no. 1 in Lending Solutions and no. 3 in Universal Banking Solutions in the  
p
p
IBS Intelligence Sales League Table for 2020  
Sopra HR Software added to the Major Contenders category of Everest Group’s Multi-Country Payroll  
Solutions PEAK Matrix  for 2020  
®
“FID” action planto step up the increase in female representation at upper management levels  
Sopra Steria joined theILO Global Business and Disability Network  
p
p
p
p
p
p
p
p
Happy Candidatesaccreditation for the second year running in 2020  
Happy Trainees Franceaccreditation awarded in 2020 for the first time  
Sopra Steria recognised as an “Open Company”by Glassdoor  
Sopra Steria Norway topped theGreat Place to Work rankingfor the fourth year in a row  
Sopra Steria Germany, Italy and Switzerland secured Great Place to Work certification  
Over 700 employees volunteered to help environmental causesthrough the Green Lights (France)  
and Sustainability Champions (United Kingdom) networks  
Two community outreach platformsfor employees, covering both voluntary work and skills  
p
sponsorship initiatives  
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CORPORATE RESPONSIBILITY  
Societal responsibility: Engaging all our stakeholders to build a positive future for all  
Sopra Steria came in second place in the 2020 Grand Prix Humpact EmploiFrance  
p
p
Sopra Steria belongs to the following indices:  
Euronext Eurozone ESG Large 80  
Euronext Eurozone 300  
Euronext Vigeo Europe 120  
Euronext Vigeo Euro 120  
CDP Environment ESG FR EW  
Euronext CDP Environment FR EOGE  
Euronext CDP Environment FR EW  
Ethibel Sustainability Index (ESI) Excellence Europe  
Ethibel Sustainability Index (ESI) Excellence VM  
Gaia Index  
50 startupsadded to the Group’s value proposition in Europe under the Sopra Steria Ventures  
p
p
p
programme  
Adoption by Sopra Steria Next of the Institut du Numérique Responsable’s charter on responsible use  
of digital technology  
Partnerships with the leading market vendors: Axway, AWS, Dassault Systèmes, Google, IBM, Microsoft,  
Orange, Oracle, OVH, PEGA, SAP and Salesforce  
Partnerships with universities and research institutesto pursue innovation-relatedprojects  
Main sponsor of the “Digital, Governance and Sovereignty” academic chair at Sciences Po  
Sponsor of the “Cybersecurity and Digital Sovereignty” academic chair at the IHEDN  
p
p
p
Over 72%of the Group’s purchasing volume covered by EcoVadis CSR supplier ratings  
Sopra Steria earned a score of A in CDP’s 2020 Supplier Engagement Leaderassessment for its  
p
p
leadership and performance in engaging its suppliers on climate change  
Inclusive purchases made via STPA comprising sheltered workshops and other organisations that specifically  
p
employ people with disabilities in France  
Streamlined access provided to suppliers applying diversity and equal opportunitycriteria  
Science Based Targets initiative (SBTi) targetincorporating suppliers’ environmental commitments  
Inclusion in the "net zero" emissionsprogramme of our purchases of goods and services that are part of  
p
p
p
supply chain  
More than 160 projects supporting local communities and regions  
p
p
p
Over 1,100volunteers on community outreach programmes  
More than 540,000participants in Make.org’s Grande Cause Environnementinitiative, of which  
Sopra Steria is a founding partner  
Three of the winning projects from the 2020 Sopra Steria Group Innovation Awardsreceived support  
p
p
from Mission Handicap  
Two projects offering digital solutions to environmental issues won the Entreprendre pour  
Demain Grand Prixawarded by the Sopra Steria-Institut de France Foundation  
Direct and indirect contribution to the United Nations’ 17 Sustainable Development Goals (SDGs)  
Chair of Global Compact France’s GC Advanced Club and of Global Compact Norway’s Advisory  
p
p
Board  
Member of the working group organized by the Institute of Environmental Management and  
p
Assessment (IEMA)on disruptive technologies and the digital economy  
Following lockdowns resulting from the Covid-19 crisis, the Group  
helped  its  clients  quickly  adapt  their  working  arrangements.  The  
3.1.2. ADVISORY BOARD
The CR Advisory Board consists of external figures with no financial  
or  business  interests  in  the  Group.  Through  their  experience  and  
expertise  in  key  areas  falling  within  the  Group’s  corporate  
responsibility,  these  advisors  provide  independent  and  relevant  
insights  challenging  and  driving  improvement  in  the  Group’s  
approach. The relevant information is set out in Section 1.1.2, A  
corporate  responsibility  governance  structure  supporting  
the Group’s priorities”, of this chapter (pages 102 to 104).  
agility of and speed of intervention by Sopra Steria staff,as well as  
the  quality  of  services  provided,  harnessing  the  full  potential  of  
digital  technology,  enabled  clients  to  maintain  good  levels  of  
activity.  The  Group’s  responses  in  a  wide  range  of  contexts  were  
very  warmly  welcomed  by  clients,  thus  strengthening  local  
relationships of trust.  
3.2. Innovation and strategic  
partnerships  
We  are  a  trusted  partner  to  our  clients,  bringing  them  the  best  
technology to develop innovative solutions. Thanks to a network of  
leading experts, startups and major technology partners, we work  
with our clients to build solutions that meet their requirements for  
sustainable performance.  
3.1.3. CLIENT SATISFACTION
The primacy of customer service is one of Sopra Steria’s core values  
and  delivering  customer  satisfaction  is  a  key  priority.  Combining  
added value with innovative high-performance services, the Group  
excels in guiding its clients through their transformation projects to  
help them make the most of digital technology.  
To  supplement  arrangements  already  in  place  to  regularly  interact  
with clients, at the end of 2019 and beginning of 2020 the Group  
launched  a  new  “Customer  Voice”  survey  in  key  countries  asking  
clients to rate the quality of their relationship with the Group. Over  
200 clients gave their opinions through more than 480 interviews.  
The qualities highlighted mainly revolved around expertise, listening,  
proactivity,  partnership,  engagement  and  professionalism.  This  
survey will be rerun across the entire Group in early 2021.  
3.2.1. CO-DESIGN TO MOBILISE COLLECTIVE
INTELLIGENCE
Developing a collaborative approach fosters creativity in the design  
of  services,  uses,  processes,  organisational  structures  and  shared  
strategies.  By  involving  business  experts,  end  users  and  technical  
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CORPORATE RESPONSIBILITY  
Societal responsibility: Engaging all our stakeholders to build a positive future for all  
experts,  this  approach  shortens  the  design  phase,  optimises  
processes and helps maximise access to digital technology.  
Sopra Steria  staff  have  a  high  level  of  expertise  in  market-leading  
solutions  and  technologies.  This  enables  us  to  offer  our  clients  
optimal efficiency in project implementation through an approach  
built on co-innovation, industrialisation and RD.  
3.2.2. DIGILABS: DEVELOPINGDIGITAL
CO-INNOVATION
These alliances enable us to take advantage of partner expertise and  
solutions  in  the  area  of  sustainable  IT  such  as  environmental  
footprint calculators and eco-design tools, and to take part in the  
development  of  environmentally  friendly  artificial  intelligence  
solutions.  
Digital  co-innovation  a  driver  of  value  creation  in  the  digital  
revolution  brings together Sopra Steria staff and clients to work  
on technologies like virtual reality, augmented reality, the Internet of  
Things,  artificial  intelligence,  data  science,  blockchain,  robotics,  
mobility  and  cybersecurity.  This  approach  is  supported  by  the  
Group’s DigiLabs – spaces dedicated to innovation – as well as by  
centres  of  excellence,  to  foster  the  emergence  of  innovative  
solutions. In 2020, Sopra Steria had 22 DigiLabs spread across the  
key geographical regions in which the Group operates.  
The  Group’s  strategic  partners  include  Axway,  AWS,  Dassault  
Systèmes, Google, IBM, Microsoft, Orange, Oracle, OVH, PEGA, SAP  
and Salesforce.  
As  an  example,  during  the  health  crisis,  teams  worked  with  
Salesforce to develop an innovative solution named Q@Home that  
allows users to go online and pre-book time slots to enable them to  
safely  visit  stores,  restaurants,  post  offices  and  pharmacies  while  
observing social distancing requirements.  
3.2.3. NEXT: A SPACE DEDICATED TO A NEW CLIENT
EXPERIENCE
NEXT,  opened  in  May 2019,  is  a  leading  space  dedicated  to  
dialogue and joint development. We help our major clients untangle  
a  situation,  explore  new  ideas  and  come  up  with  responses  that  
meet their expectations.  
3.2.5. SOPRA STERIA VENTURES: BUILDING AN
INNOVATIVE EUROPEAN DIGITAL ECOSYSTEM
Sopra Steria is working to address the strategic challenges faced by  
each of the major industry sectors in which it operates, positioning  
itself as an architect and integrator of innovative solutions.  
Located  in  premises  in  the  heart  of  Paris  measuring  almost  
1,000 square  metres,  the  NEXT  team  helps  organise  high-impact  
client  events  designed  to  engage  sustainable  transformation.  This  
encompasses  feasibility  studies,  programme  scoping,  business  
model definition and new product and service design.  
Sopra Steria Ventures is working with over 50 start-ups, involving  
them in projects, investing in their equity, either directly or through  
investment funds in targeted areas, or setting up joint ventures.  
These  partnerships  support  solutions  produced  by  the  Group’s  
specialised  software  vendors:  Sopra  Banking  Software,  Sopra  HR  
Software  and  Sopra  Real  Estate  Software.  They  also  help  address  
business  challenges  facing  the  Group’s  key  industry  sectors,  in  
specific areas of expertise or emerging technologies.  
3.2.4. A STRATEGY OF PARTNERING WITH LEADING
MARKET VENDORS
To help it respond to client needs, particularly in relation to digital  
transformation,  Sopra  Steria  partners  with  some  of  the  largest  
software vendors and technology players in the market.  
Lastly,  through  Sopra  Steria  Ventures,  the  Group  is  affirming  its  
stance  on  digital  sovereignty  in  France  and  Europe  by  supporting  
only European start-ups.  
Based on close day-to-day relationships and a governance structure  
with its own dedicated management, coordinated at Group level by  
a  Corporate  Alliance  Officer,  these  partnerships  ensure  that  
MOBILISING CIVIL SOCIETY WITH MAKE.ORG:  
At the end of 2019, Sopra Steria became a founding partner of  
the  Grande  Cause  Environnement  initiative  “How  can  we  
immediately  work  together  for  the  environment?”  launched  by  
Make.org. This cause aims to mobilise civil society and citizens to  
combat  climate  change  and  work  to  protect  the  environment.  
Make.org is an independent, citizen-based platform that promotes  
mass  engagement  and  cooperation  in  civil  society.  Its  aim  is  to  
have a direct, systemic and decisive impact by bringing together a  
coalition  of  stakeholders:  businesses,  foundations,  non-profit  
organisations,  media,  schools  and  universities,  and  citizens.  The  
Grande  Cause  Environnement  initiative  involves  Sopra  Steria  and  
its employees working together to move from ideas to action in  
the space of three years. Over half a million citizens took part in  
the  consultation,  including  nearly  3,000  Sopra  Steria  employees,  
with 2.3 million votes cast for 13,600 proposals put forward. A  
strong  consensus  emerged  around  civil  society  expectations  in  
seven  key  areas:  waste,  energy  and  resources,  nature  and  
biodiversity, food and agriculture, transport, education and fiscal  
policy.  Sopra  Steria  made  an  organisational  consultant  with  
expertise  in  the  energy  and  environment  sectors  available  to  the  
Make.org  Foundation  for  seven  months  to  manage  the  
transformation  phase.  The  work  done  during  this  phase  helped  
identify,  coordinate  and  manage  the  shared  development  of  
around  ten  tangible,  sustainable  projects  with  other  partners  of  
the Grande Cause Environnementinitiative. Ten or so Sopra Steria  
employees  also  took  part  in  transformation  workshops  aimed  at  
drawing the action plan.  
The  action  plan  is  scheduled  to  be  publicly  announced  in  May  
2021.  During  this  final  phase,  the  selected  projects  will  be  
launched. Projects will be managed, implemented and measured  
in conjunction with partners, with the aim of making a genuine  
impact  on  French  society.  The  Group  will  also  encourage  its  
employees to take part in implementing these projects through a  
skills sponsorship programme.  
Through  being  fully  involved  in  Make.org’s  Grande  Cause  
Environnement  initiative,  Sopra  Steria  wishes  to  strengthen  its  
commitment  to  the  responsible  use  of  digital  technology  to  
address both social and environmental issues.  
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Societal responsibility: Engaging all our stakeholders to build a positive future for all  
For  example,  back  in  2019,  the  Group  agreed  to  be  the  main  
3.2.6. SUPPORT FOR RESEARCH AND ACADEMIC
INSTITUTIONS
sponsor  of  the  “Digital,  governance  and  sovereignty”  academic  
chair at Sciences Po. Through this commitment, we encourage the  
chair’s  research  and  teaching  work  to  redefine  the  concept  of  
sovereignty, address shifts in sovereignty and identify new use cases  
amid  a  context  of  digital  transformation.  Work  published  by  the  
chair to date includes thoughts on changes in sovereignty, studies  
of the impact of the coronavirus crisis on digital sector players and  
regulation, analysis of taxation in the digital sector, blockchain, and  
the  digital  divide.  The  chair  has  also  organised  lecture  series  on  
blockchain and cryptocurrency as well as two annual conferences.  
Artificial intelligence  
Following  the  Villani  report,  the  French  Government  launched  an  
artificial intelligence (AI) plan. This plan encompasses a number of  
initiatives  including  the  establishment  of  four  Interdisciplinary  
Artificial Intelligence Institutions and a Grand Défi(Key Challenge) in  
relation to Trustworthy AI. Sopra Steria is participating in both these  
initiatives.  The  Group  is  thus  partnering  with  the  Toulouse  
Interdisciplinary  Artificial  Intelligence  Institution,  which  aims  to  
facilitate  the  use  of  AI  for  human-critical  applications.  Research  
topics cover the acceptability of AI (including its social acceptability),  
vehicle  certification  and  human-robot  collaboration  for  use  in  
Industry 4.0.  
Sopra  Steria  also  sponsors  the  IHEDN’s  “Cybersecurity  and  digital  
sovereignty”  academic  chair,  whose  work  covers  issues  relating  to  
data  management  and  mapping  the  datasphere  as  well  as  legal  
issues.  
Sopra Steria is also a founding member of Campus Cyber and an  
active  member  of  the  non-profit  Pôle  d’Excellence  Cyber  (Cyber  
Centre of Excellence).  
The Trustworthy AI Key Challenge aims to build a platform that will  
produce standardised components to ensure that AI can be trusted  
in use. It will draw, in particular, on the findings of ANITI (Artificial  
and  Natural  Intelligence  of  Toulouse  Institute),  one  of  the  
Interdisciplinary  Artificial  Intelligence  Institutions  to  which  the  
Group is contributing. This platform will be delivered by Sopra Steria  
as part of a consortium of ten industrial and technological partners.  
Through its involvement in these organisations, the Group is helping  
build a cybersecurity ecosystem in France and Europe.  
3.3. Responsible digital technology  
The  results  will  be  applicable  to  all  of  the  Group’s  sectors  and  
verticals.  
3.3.1. THE EXPLORATOIRE: THE DO TANK FOR
RESPONSIBLE DIGITAL TECHNOLOGY
Other international initiatives  
Created by Sopra Steria Next in 2020, the Exploratoireis a do tank  
dedicated to addressing issues raised by the changes businesses are  
experiencing in relation to ethics, trust and corporate responsibility.  
It  explores  possible  futures  while  resisting  the  temptation  to  
prophesy what the world of tomorrow will look like.  
Group entities in Belgium, France, Germany, Norway, Spain and the  
United  Kingdom  regularly  work  together  on  innovation  projects  
with  research  institutes  and  universities.  In  particular,  they  
contribute to work in education and research, involve researchersin  
their projects and develop innovative solutions.  
Its  mission  is  to  tease  out,  share  and  disseminate  best  practice  
drawing  on  stakeholders’  ecosystems:  business  networks,  schools,  
the  Group’s  clients,  institutions,  foundations,  and  so  on.  It  works  
with  these  stakeholders  to  map  out  approaches  and  methods  for  
putting ethical questions at the heart of decisions and actions.  
In Norway, Sopra Steria is working with Oslo University Hospital on  
the HoloCare solution. This work involves research and development  
into  a  new  holographic  imaging  solution  that  will  be  used  by  
medical staff during surgery. In Germany, employee volunteershave  
worked  with  the  University  of  Dortmund  to  develop  a  connected  
drill to showcase the benefits offered by the Internet of Things. In  
the  United  Kingdom,  Sopra  Steria  is  involved  in  work  on  carbon  
pricing  and  in  working  groups  looking  at  disruptive  technologies  
and  the  digital  economy.  In  Benelux,  Sopra  Steria  is  involved  in  
working groups looking at AI and ethics, AI and healthand AI and  
public services. In Spain, Sopra Steria has run fundraising campaigns  
to finance research into Covid-19 by the IGTP Institute. In France,  
the Group is working with Université de Technologie de Compiègne  
on  a  thesis  titled  “Putting  data  science  to  work  for  buildings  and  
their occupants”.  
To help it develop tangible solutions, the Exploratoire has set itself  
three goals:  
To think globally about various issues connected with ethics, trust  
p
and  corporate  responsibility  so  as  to  develop  a  better,  more  
holistic understanding of the complexity of changes that need to  
be made;  
To create a unique space where thinking on these issues can be  
p
developed and sharpened through an approach based on open  
dialogue and cooperation;  
To promote the sharing of experience and experimentation so as  
p
to incentivise implementation of solutions brought to light by the  
Exploratoire.  
3.2.7. COMMITMENTS IN SUPPORT OF DIGITAL
SOVEREIGNTY
The  Exploratoire’s  work  is  structured  around  five  areas  of  focus:  
trust,  ethics,  sovereignty,  agility  and  the  “platform  company”  
approach.  
Digital sovereignty encompasses a range of complex issues such as  
the threat posed to our data by the extraterritoriality of US law, the  
manipulation of opinion by fake news and the use of personal data  
for business purposes. All these issues represent violations of French  
and European values. Various major countries, including France, are  
keen to assert their digital sovereignty, which is coming increasingly  
under  threat.  Action  is  being  taken  to  defend  and  strengthen  it  
both domestically and at the European level.  
It tackles concrete issues that are of genuine concern to society and  
the  business  world.  Its  work  takes  a  variety  of  forms  briefing  
notes,  opinion  surveys,  decision-maker  surveys,  face-to-face  and  
digital events, and experimental projects  always with the aim of  
working  with  an  open  ecosystem  to  explore  operational  solutions  
that benefit organisations.  
Sopra Steria has opted to align itself with these initiatives alongside  
state actors and institutional bodies, to share these challenges and  
to help build and defend digital sovereignty.  
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asked to refer to the areas for improvement identified in the course  
of its assessment to put in place a corrective action plan, which will  
be reassessed during the ensuing campaign.  
3.3.2. SUPPORT FOR THE DIGITAL HUMANISM
DEPARTMENT AT THE COLLÈGE
DES BERNARDINS
The Group has for the past five years been working with Collège des  
Bernardins, a key centre for gatherings and discussion, as part of its  
Digital Humanism department, dedicated to the societal aspects of  
digital technology. Thanks to its experience as a key economic player  
in the digital sector, the Group is able to enrich thinking and work  
with  researchers,  scientists,  experts,  anthropologists  and  major  
companies to share a fresh perspective on this crucial issue for the  
future of humankind.  
3.4.2. 2020 KEY ACHIEVEMENTS AND RESULTS
Signature of the suppliers’ charter  
In  France,  the  system  for  signing  suppliers  up  to  the  Groupe  
p
suppliers' charter was expanded. The charter has been signed by  
1,308 suppliers, accounting for 35.5% of all suppliers in France  
registered with the platform at 31 December 2020.  
In the United Kingdom, efforts to sign suppliers up to the charter  
p
continued,  with  539  target  suppliers  signed  up,  accounting  for  
46% of total purchases.  
3.4. Responsible purchasing  
Aligning the supply chain with corporate responsibility priorities  
EcoVadis assessment  
Since  2015,  the  Group  has  been  committed  to  evaluating  its  
suppliers  and  assessing  its  target  suppliers  representing  annual  
expenditure  of  over  €150K.  In  2020,  new  assessment  campaigns  
run by EcoVadis were extended, with the number of suppliersasked  
to take the assessment reaching 540, 145 of them outside France  
(United Kingdom, Belgium, Germany, Spain and India). These 540  
suppliers  accounted  for  more  than  72%  of  the  Group’s  total  
expenditure  in  2020  and  suppliers  actually  evaluated  already  
account  for  43%  of  the  Group’s  expenditure.  327  suppliers  
underwent assessment by EcoVadis and 124 are in the process of  
being  assessed.  The  assessment  response  rate  is  83%  (including  
suppliers in the process of being assessed).  
3.4.1. RESPONSIBLE PURCHASING POLICY
According  to  the  Group’s  risk  mapping  exercise  and  the  duty  of  
vigilance, risks associated with the supply chain do not constitute a  
main risk factor for Sopra Steria. The relevant information is set out  
in Section 5.6 "Duty of vigilance and vigilance plan" of this chapter  
(pages 134 to 136).  
The  responsible  purchasing  programme  is  aimed  at  aligning  the  
supply chain with the Group’s priorities. The programme also seeks  
to  manage  associated  risks  while  taking  into  account  very  strict  
labour-related, environmental and ethical requirements.  
The Group is working to gradually reduce carbon emissions from its  
supply  chain  under  its  target  of  achieving  "net  zero"  emissions  by  
2028.  It  aims  to  do  this  by  increasing  the  proportion  of  suppliers  
pursuing a low-carbon strategy so as to reduce the carbon footprint  
of the Group’s indirect activities.  
The  average  score  for  Sopra Steria  suppliers  having  completed  
p
the  assessment  was  56.5/100,  compared  with  an  average  of  
42.9/100 for all suppliers of EcoVadis clients.  
67%  of  suppliers  reassessed  in  2020  showed  an  improvement,  
p
gaining an average of 3 percentage points.  
With effect from 2019, all Group entities now follow a responsible  
purchasing  approach  and  are  subject  to  Group  purchasing  
procedures. Corporate responsibility criteria must be applied to all  
purchases;  this  approach  has  been  strengthened  through  the  
introduction of Group oversight in 2020.  
The  average  score  of  suppliers  not  in  line  with  Sopra Steria’s  
expectations,  assessed  in  2019  via  EcoVadis,  showed  
improvement in 2020.  
p
No suppliers assessed or reassessed in 2020 scored lessthan the  
p
alert threshold of 24/100.  
Sopra  Steria  earned  a  score  of  A  in  CDP’s  2020  Supplier  
Engagement  Leader  rating  for  its  leadership  and  performance  in  
engaging its suppliers on climate change.  
An  awareness  and  training  campaign  covering  the  assessment  
method used by the EcoVadis platform was delivered to all buyers  
and other key stakeholders in the supply chain in 2020.  
p
Suppliers’ charter  
All suppliers must sign the Group suppliers’ charter to confirm that  
they  agree  to  the  principles  set  out  in  it.  The  charter  includes  
requirements  relating  to  business  ethics,  fundamental  human  and  
environmental rights, and compliance with regulations in force.  
Ethical and inclusive purchasing  
In  France,  the  Group  uses  services  provided  by  sheltered  
p
workshops  and  other  organisations  that  specifically  employ  
people  with  disabilities.  The  relevant  information  is  set  out  in  
Section 2.2.3, Diversity and equal opportunity”, of this chapter  
(pages 109 to 111).  
Assessment mechanism  
Suppliers  are  assessed  via  the  EcoVadis  platform.  The  assessment  
takes into account a range of issues: social issues and human rights,  
business ethics, the environment and the supply chain. For suppliers  
with  a  score  of  24/100  or  less  (overall  and/or  on  the  “Business  
ethics”  module),  an  alert  is  triggered  by  EcoVadis.  The  supplier  is  
then contacted by Sopra Steria’s Purchasing Department to put in  
place the necessary corrective actions and undergo a new EcoVadis  
assessment within a period of three months.  
In the United Kingdom, initiatives are in place to open up access  
to  the  Group’s  supply  chain  for  SMEs  as  well  as  women-  and  
diverse-owned businesses.  
p
Reducing the environmental impact of the supply chain  
The  Group’s  commitments,  approved  by  the  Science  Based  
p
Targets initiative (SBTi), are aligned with the target of limiting the  
rise in average global temperatures to a maximum of 1.5°C. This  
commitment  includes  reducing  greenhouse  gas  emissions  from  
the  supply  chain.  Sopra  Steria  also  committed  in  2020  to  
achieving "net zero" emissions by 2028. The relevant information  
is  set  out  in  Section 4.1.2,  “Environmental  targets”,  of  this  
chapter (page 122).  
Sopra Steria’s  expectations  for  suppliers,  as  outlined  in  its  
responsible  purchasing  policy,  call  for  an  overall  EcoVadis  score  
greater than or equal to 45/100. If the overall score and/or the score  
on  any  one  of  the  four  modules  (social  issues  and  human  rights,  
business ethics, environment, and supply chain) is less than 40/100,  
the supplier is considered non-compliant. In this case, the supplier is  
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Proportion of suppliers with greenhouse gas emissions reduction  
p
3.5.1. KEY EVENTS
targets:  the  relevant  information  is  set  out  in  Section 4.3.4,  
“Reducing GHG emissions resulting from our operations” of this  
chapter (pages 126 to 128).  
Collective engagement and actions to achieve a lasting impact:  
162 projects supported;  
p
p
p
p
p
p
p
Over 1,100 volunteers;  
Purchases  of  renewable  electricity  directly  from  suppliers,  
purchases of International Renewable Energy Certificates (I-RECs)  
and Guarantees of Origin (GOs). In 2020, these certificates and  
direct  purchases  meant  95%  of  electricity  consumption  at  the  
Group’s offices and on-site data centres was met from renewable  
sources.  The  relevant  information  is  set  out  in  Section 4.3.3  
“Increasing  our  share  of  renewable  energy”,  of  this  chapter  
(page125).  
p
9 participating clients/partners;  
347 non-profits and schools supported;  
Over 54,000 children assisted in 49 schools in India;  
755 students  in  India  awarded  higher  education  scholarships  
through the Sopra Steria Scholarships Programme.  
3.5.2. A PROACTIVE POLICY INVOLVING THE ENTIRE
ORGANISATION, EMPLOYEES AND CIVIL
SOCIETY
Purchases  of  certified  paper  from  sustainable  sources.  The  
relevant  information  is  set  out  in  Section 7.2,  “Summary  of  
environmental indicators”, of this chapter (page 148).  
p
To implement this policy, which involves the participation of more  
than  1,100 employees  in  all  countries,  Sopra Steria  is  supported  
by:  
3.4.3. MAIN OBJECTIVES FOR 2021
Via  EcoVadis,  reassess  target  suppliers  accounting  for  50%  of  
p
total expenditure.  
A network of 23 country representatives, led and coordinated at  
p
Group level, who implement the actions decided;  
Mobilise  responsible  purchasing  stakeholders  to  interact  with  
p
suppliers and achieve an EcoVadis response rate of at least 80%.  
Two  foundations  in  France  and  India,  the  latter  coordinating  a  
p
large  educational  programme  along  with  a  range  of  other  
community actions;  
Mobilising  suppliers  to  help  them  improve  their  ratings  in  
EcoVadis' 2021 assessment, particularly those that did not meet  
Sopra Steria’s standards in the 2020 assessment.  
p
Sponsorships  and  partnerships  developed  with  public  interest  
p
organisations;  
Continuing efforts to roll out at scale the Group supplier’s charter  
p
signed by suppliers.  
Community initiatives and fundraising events in several countries  
p
in  which  employees  proactively  take  part,  thus  complementing  
the initiatives put in place under the Group’s policy;  
3.5. Community and patronage  
Community  Day,  a  solidarity  campaign  run  by  the  Group  each  
p
year,  with  the  aim  of  making  employees  aware  of  the  various  
actions  carried  out  to  support  communities  while  encouraging  
volunteering. In 2020, the Group’s many volunteers and heads of  
country entities went the extra mile to promote access to digital  
technology and education for those hit hardest by the crisis.  
A longstanding commitment to an ethical and inclusive  
digital society  
For many years, Sopra Steria has pursued an extensive community  
programme  in  aid  of  disadvantaged  populations  to  give  them  
access  to  education,  employment  and  the  benefits  of  digital  
technologies, as well as safe drinking water and improved sanitation  
facilities.  
3.5.3. A FRAMEWORK FOR GROUP ACTION TO
PROMOTE INITIATIVES WITH A STRONG,
LASTING IMPACT
The unprecedented situation resulting from the coronavirus crisis in  
2020 meant an increasing number of activities and procedures went  
digital, highlighting the dominant role played by digital technology  
in  forming  connections.  However,  it  also  exacerbated  inequalities  
affecting those least able to access digital technology. The Group’s  
longstanding commitment to an ethical and inclusive digital society  
is more relevant today than ever before. The crisis has given rise to  
an  amazing  demonstration  of  solidarity  across  all  countries.  Many  
employees have, with the Group’s support, got involved in a variety  
of  initiatives:  raising  funds  for  hospitals,  supporting  non-profit  
organisations through volunteering or skills sponsorship, taking part  
in coronavirus research hackathons, and many more besides.  
Providing access to quality education and improving  
employability  
In India, the education programme,which has been running for  
a number of years, aims to combat poverty in a country with high  
levels of inequality. This programme is primarily aimed at children  
from  poor  rural  areas,  in  particular  girls,  who  can  benefit  from  
schools located close to the company’s sites.  
Over  54,000  children  and  young  people  at  49  primary  and  
p
secondary  schools  benefit  from  this  comprehensive  educational  
programme and are supported in their schooling by hundreds of  
Sopra Steria volunteers.  
As  a  leading  digital  player  with  operations  in  many  countries,  
Sopra Steria implements community actions having a positive and  
lasting  impact  on  society,  with  an  emphasis  on  digital  inclusion.  
These actions aim to promote social and professional integration for  
the most vulnerable and to protect the environment. Playing a key  
role in the Group’s programme of actions, the Sopra Steria-Institut  
de  France  Foundation  and  all  Group  entities  give  shape  to  these  
commitments  through  projects  bringing  together  the  Group’s  
employees  and  civil  society  stakeholders.  The  Foundation,  which  
celebrates  its  20th birthday  in  2021,  constitutes  a  remarkable  
collective  adventure  shared  by  the  staff  and  employee  volunteers  
who demonstrate their commitment on a day-to-day basis.  
To further improve access to education for these young people,  
p
Sopra Steria  has  developed  the  Sopra  Steria  Scholarships  
Programme in India to fund higher education for students from  
schools  supported  by  the  Group.  The  programme  is  funded  by  
most  Group  countries.  Since  2006,  755 students  have  received  
assistance  from  the  Sopra Steria  Scholarships  Programme,  with  
another 106 students added to the programme in 2020.  
In other countries where the Group operates, various projects  
continued to run despite the crisis:  
Initiatives  to  raise  awareness  among  young  people  of  the  risks  
p
associated  with  internet  use,  including  the  Are  You  Sure  
programme  in  Norway  and  Child  Focus  in  Belgium,  with  
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employee  volunteers  working  either  in  schools  or  remotely  
through videos;  
marginalised  or  disadvantaged  people  and  their  social  workers  at  
more  than  76  social  welfare  organisations,  with  the  help  of  ten  
volunteers.  In  2020,  the  Foundation  rewarded  the  winners  of  the  
Prix Entreprendre pour Demain, which recognises talented students  
and young entrepreneurs, taking as its theme Responsible digital  
transformation for the good of the planet” (see insert). During the  
crisis, the Foundation made large donations to four public interest  
organisations  that  launched  initiatives  aimed  at  those  hit  hardest:  
the Make.org Foundation, Fondation Simplon, non-profit Vendredi  
and Maisons d’Enfants de la Côte d’Opale.  
A  partnership  with  the  Balia  Foundation  in  Spain  promoting  
employability for women at risk of exclusion;  
p
p
Many  other  local  initiatives  supported  by  employee  volunteers  
supplementing these educational initiatives.  
Developing access to digital technology for all  
To make digital technology accessible to all, local initiatives involving  
clients, partners and employees were able to continue either before  
or during the crisis.  
In  Norway,  Sopra Steria  continues  its  support  for  social  
entrepreneurship,  with  employees  engaging  in  pro-bono  missions  
and  volunteering  to  provide  computing  classes  for  female  
immigrants.  Coding  lessons  for  hospitalised  children  were  able  to  
continue remotely with the help of volunteers.  
In 2020 in France, the Sopra Steria-Institut de France Foundation  
supported  17  digital  community  projects  with  a  social  or  
environmental  dimension  sponsored  by  employees.  For  example,  
non-profit  organisation  Adiléos  runs  a  digital  services  portal  for  
Employee engagement platforms  
Throughout the Covid-19 crisis, many employees have expressed an interest in taking part in public interest initiatives. The Group has set  
up  digital  platforms  to  support  and  manage  employee  engagement  in  this  area  in  France  and  the  United  Kingdom.  In  France,  
20,000 employees  can  now  use  the  Vendredi  platform  to  offer  volunteering  or  skills  sponsorship  to  more  than  500  non-profit  
organisations.  Meanwhile,  in  the  United  Kingdom,  the  Tech  for  Good  Hub  was  rolled  out  in  the  second  half  of  2020.  This  platform  
facilitates fundraising and employee volunteering in support of hundreds of non-profits.  
Prix Entreprendre pour Demain  
The Prix Entreprendre pour Demain (Entrepreneurship for tomorrow) awards of the Sopra Steria-Institut de France Foundation, aim to  
support community engagement among the younger generation. The awards recognise digital solutions to societal issues. The students  
and  young  entrepreneurs  who  win  this  prize  receive  financial  sponsorship  and  operational  guidance  in  successfully  completing  their  
projects,  provided  by  mentors  from  the  Group.  In  2020,  the  “Responsible  digital  technology  for  the  good  of  the  planet”  award  was  
sponsored by Luc Hardy, an explorer and tech investor committed to protecting the environment. The student award went tothe FarmIA  
team from Télécom SudParis for an agriculture project incorporating artificial intelligence. Meanwhile, the young entrepreneurs award  
went to the Opopop team for its project to reduce the amount of packaging used in e-commerce. In 2021, the Prix Entreprendre pour  
Demainwill be dedicated to digital technology and human fragility.  
Tech for Good partnerships  
The Tech for Good programme, launched in 2019 in the United Kingdom, continued to support public interest initiatives in the areas of  
entrepreneurship  and  innovation.  At  the  beginning  of  2020,  a  thousand  children  at  15  schools  were  invited  to  take  part  in  a  major  
competition  to  develop  their  skills  in  these  areas,  in  partnership  with  WildHearts  Micro-Tyco.  After  being  interrupted  during  the  
coronavirus crisis, the programme resumed in October in a virtual environment. Students were asked to propose a product or solution  
responding to one of the UN’s Sustainable Development Goals, with the help of around 30 Sopra Steria volunteers.  
Water rights  
3.6. Regional impact  
Reinforcing the Group’s positive regional impact  
Sopra Steria  has  for  several  years  been  supporting  international  
organisations  working  to  protect  the  oceans  through  financial  
sponsorship and skills. The main organisations supported are:  
Sopra Steria has a significant impact on regions and communities,  
given its size, its local roots and the number of new staffjoining the  
Group each year. It is a leading employer, with 45,960 employees  
across  25 countries,  particularly  in  Europe.  It  is  also  a  major  
recruiter in regions where the Group operates. Despite the scale of  
the  health  crisis  that  crippled  the  economy,  the  Group  took  on  
6,133  new  hires  in  2020.  The  relevant  information  is  set  out  in  
Section 2.2.1,  “Attracting  and  retaining  more  talent”,  of  this  
chapter (pages 107 to 108).  
Fondation de la Mer: this new partnership was kicked off in 2020  
p
to  support  educational  initiatives  aimed  at  young  people  and  
motivate them to protect the ocean;  
Join for Water: this project, launched in Belgium in 2019, aimsto  
p
develop  access  to  safe  drinking  water  and  improve  sanitation  
facilities  for  deprived  people  in  the  Mpanga  catchment  in  
Uganda;  
Following the drinking water towers that were set up at several  
p
As  a  committed  corporate  citizen  involving  its  entire  ecosystem,  
Sopra Steria  ensures  that,  in  developing  its  business,  it  takes  into  
account  economic,  workforce-related,  environmental  and  social  
challenges facing regions in which the Group operates, in particular  
among struggling or highly vulnerable populations.  
schools  in  India  with  the  support  of  Planet  Water  Foundation,  
studies  are  being  undertaken  to  provide  new  drinking  water  
access solutions to supplement these measures.  
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4.
Environmental responsibility: Innovating  
all along our value chain  
"Net zero" emissions(1)by 2028, a bold ambition served by an  
innovative Group policy  
To strengthen its policy and the associated continuous improvement  
process, Sopra Steria has chosen to work with top-tier international  
organisations whose aim is to involve businesses, states, NGOs and  
civil society in action to prevent climate change.  
Climate  change  is  the  single  biggest  challenge  facing  humanity.  
Governments, businesses and civil society have a responsibility to act  
now.  
Sopra Steria  supports  United  Nations  Sustainable  Development  
Goals  6,  7,  8,  9,  11,  12,  13,  14,  15  and  17  related  to  the  
environment.  
Sopra Steria  is  a  key  player  in  the  fight  against  climate  change,  
recognised  as  one  of  the  leading  businesses  in  this  area.  In  
managing its operations, the Group has for many years pursued a  
proactive  strategy  of  supporting  the  environment.  It  is  an  active  
contributor  to  international  initiatives  aimed  at  mitigating  climate  
risks and supports the transition to a low-carbon economy.  
4.1.2. ENVIRONMENTAL TARGETS
In  2019,  Sopra  Steria  set  itself  targets  aligned  with  the  goal  of  
limiting global warming to a maximum of 1.5°C (previously 2°C in  
2017). The following Group targets were approved by the Science  
Based Targets initiative (SBTi):  
In 2020, the Group received one of the highest accolades in relation  
to efforts to combat climate change: it was included on the CDP’s  
climate change A List for the fourth year running.  
SBTi Target I: Reduce absolute greenhouse gas (GHG) emissions  
p
from Scopes 1 2 (offices and on-site data centres) by 42% by  
2025 (baseline: 2015);  
Governance of environmental responsibility (CDSB REQ-01/TCFD)(2)is  
described in Section 1.1.2, A corporate responsibility governance  
structure  supporting  the Group’s  priorities”,  of  this  chapter  
(pages 102 to 104).  
SBTi  Target  II:  Reduce  absolute  GHG  emissions  from  Scope 3  
(business  travel  and  off-site  data  centres)  by  21%  by  2025  
(baseline: 2015);  
p
SBTi  Target  III:  Reduce  GHG  emissions  per  employee  from  
Scopes 1, 2 3 by 85% by 2040 (baseline: 2015);  
p
4.1. Environmental policy, strategy  
and targets  
SBTi Target IV: Ensure that the Group’s suppliers, accounting for  
p
at  least  70%  of  supply  chain  emissions,  control  their  GHG  
emissions by 2025;  
This section applies the recommendations of CDSB REQ-02/TCFD(2)  
.
4.1.1. ENVIRONMENTAL POLICY AND STRATEGY
SBTi Target V: Ensure that 90% out of these Group’s suppliers,  
accounting for at least 70% of supply chain emissions, have set  
GHG emissions reduction targets by 2025.  
p
The Group’s environmental strategy is supported by a policy broken  
down into seven priority actions:  
1. Strengthening  the  Environmental  Management  System  (EMS)  
that provides a framework for the Group’s policy;  
"Net zero" emissions in 2028  
2. Optimising the use of resources in its operations;  
In 2020, Sopra Steria committed to achieve "net zero" emissions  
by 2028, 22 years earlier than the target set out in UN and EU  
recommendations.  The  Group  made  this  commitmenton  the  
basis of the tangible results of the carbon reduction programme  
that it kicked off nearly ten years ago.  
3. Increasing  the  proportion  of  renewable  energies  covering  its  
electricity consumption;  
4. Reducing  direct  greenhouse  gas  emissions  from  offices,  data  
centres and business travel, as well as indirect emissions;  
Sopra Steria has opted to structure its environmental reporting  
to  meet  the  recommendations  of  the  Task  Force  on  
Climate-related  Financial  Disclosures  (TCFD)  by  using  the  
framework  of  the  Climate  Disclosure  Standards  Board  (CDSB),  
since it believes that this approach provides all stakeholders with  
greater  transparency  and  clarity.  The  reference  framework  
proposed by the CDSB and the TCFD is signposted throughout  
this  chapter  via  references  of  the  type  “CSDB  REQ-01  to  
REQ-12/TCFD(2)”.  
5. Contributing to the circular economy by optimising equipment  
lifespan  and  waste  management,  notably  for  waste  electrical  
and electronic equipment (WEEE);  
6. Ensuring the involvement and contribution of the entire value  
chain  (employees,  clients,  suppliers,  partners,  etc.)  in  the  
continuous improvement process;  
7. Embedding  sustainability  into  the  value  proposition  (digital  
sustainability, sustainable IT, impact of solutions and services on  
the environment).  
(1) "net  zero"  emissions:  reducing  greenhouse  gas  emissions  generated  all  along  an  organisation’s  value  chain  and  offsetting  residual  emissions  by  investing  in  carbon  capture  
programmes.  
(2) CDSB REQ: For more information, see the Glossary on page 308.  
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a. Physical risks  
4.2. Environmental challenges:  
opportunities for the Group  
Sopra  Steria’s  main  physical  risk  relates  to  disruption  resulting  
from  severe  flooding,  which  could  restrict  access  to  the  Group’s  
facilities.  Climate  events  could  damage  electrical  and  
telecommunications  infrastructure,  thus  affecting  Sopra  Steria’s  
data  centres.  These  risks  are  taken  into  account  when  choosing  
production  sites  and  infrastructures.  Sopra  Steria  has  also  set  up  
continuity plans at various levels of its activities and a robust system  
for  remote  working  to  deal  with  these  risks.  These  plans  and  
arrangements  have  proved  their  effectiveness  during  the  Covid-19  
crisis, enabling all the Group’s operations to continue and allowing  
the  Group  to  act  with  agility  to  maintain  high  levels  of  customer  
service.  
This section applies the recommendations of CDSB REQ-03/TCFD(1)  
.
Issues  relating  to  the  environment  and  the  fight  against  climate  
change have been analysed for Sopra Steria. No key environmental  
risks were identified by the Group risk mapping exercise.  
Sopra Steria reaffirms that climate action must be incorporated into  
the actions of all organisations. In seeking to develop solutions that  
benefit the environment and the climate, digital technology is a key  
priority for limiting risks and expanding opportunities.  
The  Group’s  material  environmental  risks  and  opportunities  are  
published annually in Sopra Steria’s responses to the CDP Climate  
Change  questionnaire(2).  All  Group  risks  are  set  out  in  Section 1,  
“Risk  factors”,  of  the  chapter 2  of  this  Universal  Registration  
Document (pages 36 to 42).  
b. Transition risk  
Sopra  Steria’s  main  transition  risks  relate  to  regulatory  change  
and reputational risk.  
Uncertainty as to changes in European regulations on greenhouse  
gas emissions reduction targets could affect the cost or availability  
of  offsetting  projects  and  force  businesses  to  comply  with  stricter  
classification requirements. The impact of regulatory change is thus  
built into Sopra Steria’s "net zero" emissions programme, whether in  
relation to purchasing renewable energy, choosing environmentally  
efficient buildings, developing greener travel options or investing in  
carbon capture projects. Sopra Steria is involved in various French  
working  groups  looking  at  the  effects  of  regulatory  change,  
particularly in relation to digital sustainability.  
4.2.1. PROCESS FOR IDENTIFYING ENVIRONMENTAL
ISSUES
Risks and opportunities identified at the local or national level are  
flagged  up  by  correspondents  to  the  Group  Environmental  
Sustainability  Committee  (GESC),  which  undertakes  more  in-depth  
analysis. The findings of this analysis are presented to the relevant  
business unit heads at meetings of the Corporate Responsibility and  
Sustainable  Development  Committee  for  inclusion  in  action  plans.  
Major  risks  are  discussed  at  meetings  of  the  Group  Executive  
Committee  and  presented  to  the  Audit  Committee  and  the  
Nomination,  Governance,  Ethics  and  Corporate  Responsibility  
Committee,  which  submit  their  conclusions  to  the  Board  of  
Directors.  
Reputational  risk  is  fully  integrated  into  the  Group’s  
environmental programmes, which are now recognised as the most  
effective  and  transparent  in  the  sector.  This  is  key  priority  for  the  
Group’s development in terms of its ability to attract and retain the  
best  talent  and  serve  as  a  benchmark  partner  for  major  
organisations. For example, at the international level, the Group is  
working with a wide range of partners in the carbon offsetmarket  
to  identify  the  most  environmentally  and  socially  responsible  and  
ethical projects. Sopra Steria interacts with the United Nations in the  
context of its "Climate Neutral Now" programme to verify its selected  
carbon capture projects.  
The CRSD Director is a member of the Group Executive Committee  
and  informs  the  latter  directly  of  any  environmental  or  
climate-related  issues  requiring  particular  attention  and  any  
decisions that need to be made.  
4.2.2. CLIMATE RISKS OPPORTUNITIES
In accordance with the recommendations of the TCFD, Sopra Steria  
has  analysed  two  climate  scenarios,  in  both  qualitative  and  
quantitative  terms:  the  Sustainable  Development  Scenario  (SDS)  
developed  by  the  International  Energy  Agency  (IEA),  which  is  
aligned  with  the  Paris  Agreement;  and  the  RCP  8.5  “business  as  
usual”  scenario  developed  by  the  Intergovernmental  Panel  on  
Climate Change (IPCC). This analysis allowed for the identification of  
risks and opportunities for the Group’s activities, over a period of  
25 years beginning in 2015. Detailed information on the analysis is  
included  in  Sopra  Steria’s  responses  to  the  2020  CDP  Climate  
Change questionnaire.  
c. Opportunities for the Group  
Sopra Steria is addressing business opportunities linked to efforts to  
limit  climate  change  and  protect  natural  resources  by  offering  
innovative solutions such as the following:  
Sustainable IT: stepping up the digital sobriety approach;  
p
IT  for  Sustainability:  leveraging  the  potential  offered  by  new  
p
technologies  to  develop  innovative  solutions  in  support  of  the  
environment and the climate.  
These opportunities are set out in Section 4.3.7, Including digital  
sustainability in our value proposition”, of this chapter (pages 129  
to 130).  Sopra  Steria  publishes  all  its  risks  and  opportunities  
annually  in  its  disclosure  to  the  CDP,  in  accordance  with  TCFD  
guidelines.  No  material  risks  related  to  the  climate  or  sustainable  
development were identified within the Group in 2020.  
As  regards  climate-related  opportunities  and  risks,  Sopra  Steria  
complies  with  TCFD  guidelines  and  assesses  both  physical  and  
transition risks.  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
(2) Sopra Steria’s responses to the CDP Climate Change questionnaire are available from the CDP’s website at  
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4.3. Environmental impact and performance  
This section applies the recommendations of (CDSB REQ-04 REQ-05/TCFD)(1)  
.
The environmental policy, presented in the introduction to this section and further developed in the table below, is designed to enable the  
Group to respond to the risks and develop the opportunities referred to in Section 4.2, Environmental challenges: opportunities for the  
Group”, of this chapter (page 123).  
The scope of performance indicators is set out in Section 1.3, “Overview of reporting scope”, of this chapter (pages 104 to 105).  
For reference, definitions of Scopes 1, 2 3 are given in the diagram below and relate to the Group’s direct activities under its control.  
SCOPE 1: DIRECT GREENHOUSE GAS EMISSIONS
Fossil fuel consumption at offices
Fugitive emissions from offices and on-site data centres
SCOPE 2: INDIRECT GREENHOUSE GAS EMISSIONS
Consumption of electricity, steam, heating and cooling services
at offices and on-site data centres
SCOPE 3: OTHER INDIRECT GREENHOUSE GAS EMISSIONS
Consumption of electricity, steam, heating and cooling services
at off-site data centres
Business travel
RESULTS:  Energy  consumption  per  employee  was  reduced  by  
28.5% between 2016 and 2020.  
4.3.1. ROLLOUT OF THE ENVIRONMENTAL
MANAGEMENT SYSTEM (EMS)
Energy consumption per employee was reduced by 14.9% in 2020  
relative to 2019, with a large portion of this reduction (estimated at  
84%)  due  to  the  consequences  of  the  Covid-19  crisis  and  the  
remainder  resulting  from  more  environmentally  responsible  
TARGET: Roll out an Environmental Management System (EMS) in  
key countries to support the Group’s environmental policy.  
KEY ACHIEVEMENTS:  
The  Group  has  rolled  out  the  EMS  in  its  key  geographies.  
ISO 14001  certification:  2015  is  active  in  Denmark,  France,  
Germany,  India,  Italy,  Norway,  Poland,  Spain,  Sweden  and  the  
United Kingdom. Another Italian site was certified in 2020.  
practices.  
New working arrangements put in place during the health crisis in  
2020 will no doubt continue, reducing long-term demand for office  
space. At the same time, new commercial premises are ever more  
energy  efficient  a  trend  that  is  fully  taken  into  account  in  the  
Group’s location strategy.  
4.3.2. CONTROLLING RESOURCE CONSUMPTION
ENERGY  
Analysis:  New  sites  meet  the  latest  and  strictest  environmental  
standards  (BREEAM,  HQE  and  LEED);  new  IT  equipment  is  
TARGET:  Reduce  energy  consumption  per  employee;  in  France,  
reduce  absolute  energy  consumption  at  commercial  premises  by  
environmentally  certified  (Energy  Star  
®
7.0,  EPEAT   Gold);  
®
collaborative  IT  tools  are  widely  used  to  limit  sending  of  large  
e-mails and documents; data centres have efficient cooling systems  
and low PUE (power usage effectiveness) ratings (e.g. Oslo Digiplex  
40% by 2030 (in accordance with the ELAN law(2)  
.
and Oslo Rata in Norway, rated 1.1 and 1.2 respectively) (REQ-05)(1)  
.
Electricity consumption at offices and on- and off-site data centres  
(REQ-04)(1)  
2020  
2019  
2018  
Absolute consumption (MWh)
Consumption per employee (MWh/employee)
85,279  
1.9  
98,809  
2.2  
97,262  
2.3  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
(2) ELAN: Decree 2019-771 of 23 July 2019 reforming housing, planning and digital technology.  
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WATER  
Water consumption per employee was reduced by 34.5% in 2020  
relative to 2019, with a large portion of this reduction due to the  
consequences  of  the  Covid-19  crisis  and  the  remainder  resulting  
from more environmentally responsible practices (systems to recover  
rainwater and optimise consumption of sanitary water installed in  
TARGET:Manage water consumption to minimise leaks and waste.  
RESULTS:Water consumption per employee was reduced by 40.7%  
between 2017 and 2020.  
India) (REQ-05)(2)  
.
Water consumption in offices (REQ-04)(1)  
2020  
2019  
2018  
Absolute consumption (cu. metres)
164,250  
3.6  
246,985  
5.5  
227,938  
5.2  
Consumption per employee (cu. metres/employee)
PAPER  
88%)  due  to  the  consequences  of  the  Covid-19  crisis  and  the  
remainder  resulting  from  more  environmentally  responsible  
practices.  
TARGET: Reduce paper consumption and increase use of certified  
environmentally responsible paper.  
The  proportion  of  certified  environmentally  responsible  paper  
(FSC 100%, FSC Mixed and PEFC)(2)increased. In 2020, 70.6% of all  
paper  purchased  was  certified  environmentally  responsible  
RESULTS:Paper consumption per employee was reduced by 70.8%  
between 2017 and 2020.  
Paper consumption per employee was reduced by 62.5% in 2020  
relative to 2019, with a large portion of this reduction (estimated at  
(REQ-05)(1)  
.
Quantity of paper purchased (REQ-04)(1)  
2020  
2019  
2018  
Absolute quantity purchased (kg)
Quantity purchased per employee (kg/employee)
39,132  
0.9  
96,873  
2.4  
100,498  
2.5  
Buying  Guarantees  of  Origin  (and  REGOs)  to  meet  all  electricity  
consumption in Belgium, Bulgaria, Germany, Italy, Luxembourg,  
the Netherlands, Norway, Poland, Spain and the United Kingdom  
from renewable sources;  
p
4.3.3. INCREASING THE PROPORTION OF RENEWABLE
ENERGY
TARGET:  Increase  the  proportion  of  the  Group’s  electricity  
consumption  (at  offices  and  on-site  data  centres)  from  renewable  
sources to over 85%.  
Buying  Guarantees  of  Origin  to  cover  90%  of  electricity  
consumption in France;  
p
p
RESULTS:  Target  exceeded,  with  95%  of  electricity  consumption  
Buying I-RECs to cover 100% of electricity consumption in Brazil,  
Cameroon, China, Côte d’Ivoire, Gabon, India, Morocco, Senegal,  
Singapore, Tunisia and the United States;  
met from renewable sources (REQ-05)(1)  
.
Analysis:  Having  already  exceeded  our  target  in  2019,  we  made  
further progress in 2020 by:  
Cogeneration at Meudon in France.  
p
Buying  green  electricity  direct  from  suppliers  for  sites  and  data  
p
centres  in  Belgium,  Denmark,  Germany,  Luxembourg,  Norway,  
Sweden, Switzerland and the United Kingdom;  
Electricity consumption at offices and on-site data centres  
(REQ-04)(1)  
2020  
2019  
2018  
2015  
Proportion of renewables  
95%  
90%  
78%  
20.4%  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
(2) FSC 100%: 100% recycled; FSC Mixed: 70% recycled; PEFC: sourced from sustainably managed forests.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE RESPONSIBILITY  
Environmental responsibility: Innovating all along our value chain  
4.3.4. REDUCING GHG EMISSIONS RESULTING FROM OUR OPERATIONS
We are kicking off the first phase of our "net zero" emissions programme by reducing the impact of our direct activities (offices, on- and  
off-site data centres and business travel), followed by our indirect activities (waste, commuting and supply chain).  
DIRECT ACTIVITIES – TARGETS AND RESULTS IN TERMS OF GHG EMISSIONS  
Our objectives have been defined with regard to SBTi and aligned on a 1.5°C trajectory. The 2020 results are broken down by typology.  
SBTi TARGET I: Reduce absolute greenhouse gas (GHG) emissions from Scopes 1  2 (offices and on-site data centres) by 42% by  
p
2025 (baseline: 2015)  
RESULTS:Absolute GHG emissions reduced by 73% since 2015.  
SBTi TARGET II:Reduce absolute GHG emissions from Scope 3 (business travel and off-site data centres) by 21% by 2025 (baseline:  
2015).  
p
p
RESULTS:Absolute GHG emissions reduced by 62% since 2015.  
SBTi TARGET III:Reduce GHG emissions per employee from Scopes 1, 2 3 (business travel, offices and on- and off-site data centres)  
by 85% by 2040 (baseline: 2015).  
RESULTS:GHG missions per employee were reduced by 74% between 2015 and 2020. GHG emissions per employee were reduced  
by  58.9%  in  2020  relative  to  2019,  with  a  large  portion  of  this  reduction  (estimated  at  82%)  due  to  the  consequences  of  the  
Covid-19 crisis and the remainder resulting from more environmentally responsible practices.  
GHG emissions: Business travel, offices and on- and off-site data centres,  
including fugitive emissions* (Scopes 1, 2 3) (REQ-04)(1)  
2020  
2019  
2018  
Absolute emissions (tCO
Reduction in emissions per employee relative to 2015 (tCO
2
e)
17,533  
-74%  
41,996  
-36.7%  
45,219  
-29.1%  
2e/employee)
*
Fugitive emissions included in 2020, excluded in 2015.  
TARGET:Introduce an internal shadow carbon price for business  
p
travel in the Group’s key geographies by 2025.  
RESULTS:  In  2020,  the  Group  calculated  an  internal  shadow  
carbon  price  for  key  geographies  covering  95%  of  its  
workforce. This internal carbon price helps encourage reduced  
business travel by providing each country with a clearer picture  
of the environmental footprint resulting from travel.  
OFFICES AND ON-SITE AND OFF-SITE DATA CENTRES  
TARGET:  Incorporate  the  Group’s  business  travel,  offices  and  
data centres and fugitive emissions into the "net zero" Emissions  
programme.  
p
These  results  contribute  to  the  achievement  of  SBTi  Targets  I,  II  
and III.  
RESULTS:  GHG  emissions  per  employee  were  reduced  by  76%  
between  2015  and  2020,  and  are  carbon  neutral  through  the  
"Climate Neutral Now" programme.  
RESULTS:  Since  2015,  emissions  from  offices,  data  centres  
(fugitive  emissions  included)  and  business  travel  are  carbon  
neutral(2)  and  were  transitioned  into  the  United  Nations  
“Climate Neutral Now”(3)programme in 2020. Due to impact of  
the  investment  in  carbon  capture  offset,  offices  and  data  
centres  become  part  of  the  “net  zero”  programme  in  2020.  
Business travel remains with carbon avoidance offset.  
GHG emissions per employee were reduced by 23% in 2020 relative  
to 2019, with a portion of this reduction (estimated at 12%) due to  
the consequences of the Covid-19 crisis and the remainder resulting  
from more environmentally responsible practices.  
GHG emissions: Offices, on- and off-site data centres, fugitive emissions  
included* (Scopes 1, 2 3) (REQ-04)(1)  
2020  
2019  
2018  
Absolute emissions (tCO
Reduction in emissions per employee relative to 2015 (tCO e/employee)
2
e)
5,974  
-76%  
7,686  
-69%  
9,297  
-62%  
2
* Fugitive emissions included in 2020, excluded in 2015  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
(2) carbon neutral: when a company has measured and reduced its GHG emissions and offset its residual emissions, all verified with independent verification.  
(3) "Climate Neutral Now": an initiative launched by the UN in 2015 to encourage all citizens to take action to help achieve the goal of a climate-neutral world by the middle of the  
century, in accordance with the Paris Agreement.  
126  
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CORPORATE RESPONSIBILITY  
Environmental responsibility: Innovating all along our value chain  
FUGITIVE EMISSIONS  
Fugitive  emissions  per  employee  were  reduced  by  32.5%  in  2020  
relative  to  2019,  with  a  large  portion  of  this  reduction  resulting  
from more environmentally responsible practices.  
These results contribute to the achievement of SBTi Targets I and  
III.  
RESULTS: Fugitive emissions per employee were reduced by 28.3%  
between  2017  and  2020,  and  are  carbon  neutral  through  the  
"Climate Neutral Now" programme.  
Fugitive emissions* (Scopes 1 2) (REQ-04)(1)  
2020  
2019  
2018  
2017  
Absolute emissions (tCO
Reduction in emissions relative to 2017 (tCO
2
e)
1,403  
-18.7%  
2,048  
+18.7%  
1,633  
-5.3%  
1,725  
2e)
* Detected in offices and data centres on site  
BUSINESS TRAVEL  
GHG  emissions  per  employee  resulting  from  business  travel  were  
reduced by 66.8% in 2020 relative to 2019, with a large portion of  
this reduction (estimated at 88%) due to the consequences of the  
Covid-19  crisis  and  the  remainder  resulting  from  more  
environmentally responsible travel options.  
These results contribute to the achievement of SBTi Targets II and  
III.  
RESULTS:  In  2020,  GHG  emissions  per  employee  resulting  from  
business  travel  were  72.5%  lower  than  in  2015  (with  hotels  
included from 2016 and joint ventures from 2017), and are carbon  
neutral through the "Climate Neutral Now" programme.  
Business travel (REQ-04)(1)  
2020  
2019  
2018  
2015  
Absolute emissions (tCO
Emissions per employee (tCO
2
e)
11,559  
0.3  
34,310  
0.8  
35,922  
0.8  
32,005  
0.9  
2e/employee)
RATIO OF EMISSIONS FROM DIRECT ACTIVITIES TO REVENUE AND EBITDA  
In 2020, the Group calculated the environmental impact of its direct activities (Scopes 1, 2 3: business travel, offices and on- and off-site  
data centres) relative to revenue and EBITDA.  
Emissions from direct activities relative to revenue/EBITDA (REQ-04)(1)  
Ratio of emissions from direct activities (Scopes 1, 2 3) to revenue (tCO
2020  
2019  
2018  
2e/€m)
4.1  
9.5  
11  
Ratio of emissions from direct activities (Scopes 1, 2 3) to EBITDA (tCO
2e/€m)
46.4  
102.9  
122.4  
INDIRECT ACTIVITIES  
Measured emissions arising from the Group’s supply chain have been published for the past three years. They cover the Group’s purchases  
outside of Scopes 1 2 (Offices, data centres on-site and fugitive emissions) and Scope 3 (Business Travel and off-site data centres). Weare  
gradually measuring emissions from waste and commuting.  
SBTi  TARGET IV:  Ensure  that  the  Group’s  suppliers,  accounting  for  at  least  70%  of  supply  chain  emissions,  control  their  GHG  
p
emissions by 2025.  
SBTi TARGET V:Ensure that 90% out of these Group’s suppliers, accounting for at least 70% of supply chain emissions, have set GHG  
p
emissions reduction targets by 2025.  
TARGET:Pursue a responsible purchasing policy favouring products and services with a low environmental impact.  
p
RESULTS:In 2020, the Group continued to assess its suppliers via the Provigis, EcoVadis and CDP platforms. In particular, the analysis  
was carried out for suppliers in France, Germany, Italy and Spain and demonstrated that 44% of these suppliers, accounting for 70%  
of the residual footprint(1)arising from the supply chains in these countries, have emissions reduction targets. Supply chain analyses  
were  made  possible  by  close  cooperation  between  the  Chief  Purchasing  Officer  and  the  CRSD  Department.  The  results  of  the  
responsible purchasing policy are presented in Section 3.4, “Responsible purchasing”, of this chapter (pages 119 to 120).  
ANALYSIS: Based on residual data for France, Germany, Italy and  
Spain  (which  account  for  46.5%  of  the  Group’s  residual  data),  a  
limited assurance approach has been adopted to scale up this data  
proportionally.  This  analysis  enables  us  to  estimate  total  residual(2)  
GHG  emissions  arising  from  the  Group’s  purchases  at  189,406  
Residual emissions(2), linked to the Group's purchases, decreased in  
2020.  The  environmental  impact  of  these  residual  purchases  was  
calculated  across  a  larger  scope  using  business  intelligence  tools,  
based on an average weighted by type of purchase rather than a  
simple average. This analysis has confirmed that over the past three  
years, the categories of suppliers accounting for the largest share of  
the Group’s residual footprint have been subcontracting firms and  
IT  services  companies.  In  2020,  the  Group  calculated  the  
tCO e  in  2020  using  the  method  recommended  by  ADEME.  Our  
2
goal is to extend this limited assurance approach to the whole of  
the Group by 2025 and to expand the EcoVadis supplier assessment  
programme.  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
(2) Scopes 1 2 (Offices, data centres on-site and fugitive emissions) and Scope 3 (Business Travel and off-site data centres).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
127
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CORPORATE RESPONSIBILITY  
Environmental responsibility: Innovating all along our value chain  
environmental  impact  of  residual  GHG  emissions(2)  linked  to  its  
purchases relative to revenue and EBITDA.  
Residual emissions from purchases (excluding business travel, offices,  
on- and off-site data centres and fugitive emissions) (REQ-04)(1)  
2020  
2019  
2018  
Absolute emissions (tCO
Ratio of residual emissions to revenue (tCO
Ratio of residual emissions to EBITDA (tCO
2
e)
189,406*  
44.4  
221,311  
49.9  
246,447  
60.2  
666.8  
2
e/€m)
2
e/€m)
501.5  
542  
*
Assuming no change in the scope of purchases relative to 2019 and 2018, residual emissions from the Group’s purchases in 2020 would have amounted to 201,803 tCO e.  
2
4.3.5. PROMOTING THE CIRCULAR ECONOMY
WASTE ELECTRICAL AND ELECTRONIC EQUIPMENT (WEEE)  
RESULTS AND ANALYSIS:  
TARGET:Give 100% of WEEE a second life by 2025 (reuse through  
resale and donation, heat recovery or raw materials for recycling).  
Sopra  Steria  maximises  the  lifespan  of  electrical  and  electronic  
equipment and specialist suppliers collect and manage the disposal  
of this equipment.  
In 2020, 97% of WEEE was given a second life.  
WEEE  per  employee  was  reduced  by  22.6%  in  2020  relative  to  
2019, with a portion of this reduction (estimated at 39%) due to  
the consequences of the Covid-19 crisis and the remainder resulting  
from more environmentally responsible practices.  
Waste electrical and electronic equipment (WEEE) (REQ-04)(1)  
2020  
2019  
2018  
Absolute quantity (kg)
Quantity per employee (kg/employee)
Proportion given a second life  
64,657  
1.5  
97%  
82,947  
1.9  
97%  
95,242  
2.2  
95%  
PAPER AND CARDBOARD WASTE  
In 2020, 99.7% of paper and cardboard waste was recycled.  
TARGET:  Recycle  100%  of  paper  and  cardboard  waste  by  2025  
(heat recovery or raw materials for recycling).  
Paper and cardboard waste collected per employee was reduced by  
53.5%  in  2020  relative  to  2019,  with  a  large  portion  of  this  
reduction  (estimated  at  82%)  due  to  the  consequences  of  the  
Covid-19  crisis  and  the  remainder  resulting  from  more  
environmentally responsible practices.  
RESULTS AND ANALYSIS:Sopra Steria optimises printing and runs  
awareness campaigns to reduce waste.  
Paper and cardboard waste (REQ-04)(1)  
2020  
2019  
2018  
Absolute quantity (kg)  
Quantity per employee (kg/employee)  
194,418  
4.4  
415,122  
9.4  
456,274  
10.5  
Proportion of paper and cardboard waste collected separately and recycled  
99.7%  
96%  
97%  
Responsible purchasing:  
4.3.6. ENSURING THE INVOLVEMENT AND
CONTRIBUTION OF THE ENTIRE VALUE CHAIN
Sopra  Steria  applies  Group-wide  purchasing  rules  that  take  into  
account  environmental  selection  criteria.  Its  suppliers’  charter  also  
includes  environmental  standards.  The  relevant  information  is  set  
out  in  Section 3.4,  “Responsible  purchasing”,  of  this  chapter  
(pages 119 to 120).  
TARGETS:  
Ensure  the  entire  value  chain  (employees,  clients,  suppliers,  
p
partners,  etc.)  is  involved  in  and  contributes  to  the  continuous  
improvement process.  
Stakeholders:  
Civil society  
Raise  awareness  among  our  stakeholders  and  contribute  to  
working groups involving opinion leaders.  
p
Develop employee engagement across the Group.  
p
United Kingdom/Cabinet Office: The Group took part in the  
p
Net Zero Carbon round table organised by the Cabinet Office in  
London. Key points covered include the impact of the Covid crisis  
on  emissions  (working  from  home,  reduction  in  commuting,  
supply chain resilience).  
RESULTS:  The  relevant  information  is  set  out  in  Section 4.3.4,  
“Reducing  GHG  emissions  resulting  from  our  operations”,  of  this  
chapter (pages 126 to 128).  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
128  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
4
CORPORATE RESPONSIBILITY  
Environmental responsibility: Innovating all along our value chain  
Institute  of  Environmental  Management  and  Assessment  
(IEMA):Sopra Steria supported the IEMA and its working group  
on disruptive technologies and the digital economy, including in  
particular  projects  on  energy  transition,  smart  food  and  
agriculture, smart transport for sustainable cities and sustainable  
infrastructure for climate-smart cities.  
Training:  
p
p
E-learning  module  on  digital  eco-friendly  actions  made  
available  to  all  employees:  more  than  3,000 employees  have  
received  this  training  in  France  since  it  was  launched  in  
September  2020.  The  training  was  rolled  out  to  the  Group’s  
other geographies in January 2021,  
Make.org-Grande Cause Environnement:Information on this  
programme, of which the Group is a founding partner, is set out  
in  Section 3.2,  “Innovation  and  strategic  partnerships”,  of  this  
chapter (page 117).  
p
p
Eco-design  training:  training  in  the  product  and  service  life  
cycle  and  environmentally  responsible  design  practices  was  
rolled out in France at the end of 2020. Rollout will continue  
across the Group’s other geographies,  
Sopra  Steria-Institut  de  France  Foundation:  The  Sopra  
Steria-Institut  de  France  Foundation  awarded  its  Entreprendre  
pour DemainGrand Prixto FarmIA and Opopop for their digital  
projects  to  protect  the  environment.  FarmIA  is  a  project  to  
promote  sound  farming  practices  through  the  use  of  artificial  
intelligence.  Opopop  is  a  platform  for  the  management  of  
reusable  and  returnable  shipping  pouches  to  mitigate  the  
environmental impact of e-commerce deliveries.  
Environmental responsibility and digital sobriety training course  
opened  up  to  the  whole  of  the  Group  via  the  CorpAcademy  
platform;  
Communications campaigns:  
p
Awareness  campaign  to  drastically  reduce  the  amount  of  
printing at many Group entities,  
Digital  sobriety  awareness:  use  of  e-mail,  rationalisation  of  
collaborative workspaces and impact of data feeds.  
United  Nations  Global  Compact:  Responding  to  the  call  to  
action launched by the United Nations with its Global Compact,  
the  Group  joined  the  “Uniting  Business  for  a  Better  World  
pledge, along with more than 1,200 other companies worldwide,  
to  promote  peace,  justice,  strong  institutions,  adherence  to  the  
Global Compact’s 10 principles and the achievement of the SDGs.  
Sopra Steria has chaired Global Compact France’s GC Advanced  
Club since 2020. One meeting of the Club in 2020 was devoted  
to biodiversity.  
p
Major recognition:  
The  Group’s  high  level  of  commitment  and  the  results  of  its  
environmental policy have now garnered international recognition,  
making Sopra Steria a flagship company in this area.  
CDP Climate Change A List: The relevant information is set out in  
p
Section 1.2, “Major recognition”, of this chapter (page 104). This  
recognition  received  by  the  Group  is  also  described  in  the  CDP  
publication “Stories of Change 2020”.  
SBTi  Global  Compact,  WWF,  WRI,  CDP:  In  May 2020,  
Sopra  Steria  signed  the  “Uniting  business  and  governments  to  
recover better” statement, issued jointly by We Mean Business  
and SBTi.  
p
CDP Supplier Engagement Leader: The relevant information is set  
out  in  Section 1.2,  “Major  recognition”,  of  this  chapter  (page  
104).  
p
EcoVadis: Sopra Steria achieved an EcoVadis score of 90 out of  
100 for its environmental programme, making it one of the top  
performers in the environmental area.  
p
Technology partners  
The Group’s key cloud suppliers are very proactive about reducing  
p
their  environmental  footprint.  All  four  operators  have  a  stated  
target  of  "net  zero"  emissions  well  ahead  of  UN  
recommendations. Two of these partners already meet 100% of  
their electricity consumption from renewable sources and have a  
CDP Climate Change score of A.  
4.3.7. INCLUDING DIGITAL SUSTAINABILITY
IN OUR VALUE PROPOSITION
Responsible  digital  technology  represents  a  major  driver  of  
economic  and  social  development  provided  that  it  factors  all  the  
environmental  impacts  of  its  lifecycle  (from  design  to  end  of  life,  
including usage).  
IT working groups  
Institut du Numérique Responsable(INR):Sopra Steria Next  
p
signed  up  to  the  Digital  Responsibility  Charter  in  
December 2020.  
It is thus crucial to support the development of digital technology  
for the benefit of society by adopting a responsible approach that  
accommodates both the “Sustainable IT” and “IT for Sustainability”  
dimensions.  
Syntec Numérique: Participated in a workshop on calculating  
p
the proportion of a business’s revenue derived from sustainable  
activities  and  helped  write  the  Syntec  Numérique  position  
document  “Reducing  the  environmental  footprint  of  digital  
technology”  and  the  CSR  reference  document  “Fully  committed  
to  corporate  social  responsibility:  a  practical  guide  for  
organisations”.  
Sopra Steria,  a  key  player  leading  the  digital  transformation  in  
Europe,  supports  its  customers’  major  digital  transformation  
projects  by  paying  close  attention  to  sustainable  development  
priorities in the development of its solutions and services.  
In particular, the aim is to measure the impact of the solutions and  
services  we  provide  to  our  clients,  taking  into  account  the  
environmental challenges they face, so as to clarify their choices as  
they digitally transition their business.  
NegaOctet:  Participated  in  NegaOctet’s  Advisory  Board,  
appointed  by  ADEME  to  help  it  draft  an  environmental  
framework proposing rules for calculating emissions factors and a  
categorisation of products used in digital services for individuals.  
p
Employees  
Employees' networks commited to the environment:Green  
p
Light (France) has over 600 members; Sustainability Champions  
(United Kingdom) has over 100 members.  
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CORPORATE RESPONSIBILITY  
Environmental responsibility: Innovating all along our value chain  
Rolling out a concrete and effective approach to digital  
sustainability  
Environmental diagnosis and design of two applications  
for  a  European  manufacturer:  For  this  project,  Sopra  Steria  
identified  sources  of  environmental  impacts  by  carrying  out  a  
screening-level  life  cycle  assessment.  This  analysis  is  based  on  
data  compiled  mainly  from  average  values  provided  by  
databases,  when  specific  data  are  not  readily  available.  This  
approach  saves  a  great  deal  of  time  in  the  data  compilation  
phase,  allowing  for  more  in-depth  analysis  to  be  carried  out  
subsequently  by  compiling  data  only  for  the  most  significant  
sources  of  emissions.  A  functional  analysis  looking  at  user  
experience (UX) and a technical analysis focusing on architecture,  
data  and  code  identified  approaches  to  optimise  the  
environmental  footprint,  ranked  in  accordance  with  the  triple  
bottom line or 3P concept: people, prosperity and the planet. A  
project to automate efficiency measurement has been launched  
to ensure continuous improvement of the services concerned.  
Sopra Steria  applies  three  digital  sustainability  principles  when  
implementing its projects:  
1. Carbon  neutral/"net  zero"  emissions  project  teams:  raise  
awareness in order to minimise the environmental footprint of  
each Sopra Steria project team and its equipment, in linewith  
the  carbon  neutrality  obtained  for  all  of  the  Group’s  business  
travel,  offices  and  data  centres  integrated  to  the  "Climate  
Neutral Now" programme;  
2. Sustainable IT: accelerating adoption of digital sustainability,  
notably  by  selecting  the  infrastructure  and  technologies  most  
closely  aligned  with  clients’  and  the  Group’s  Sustainable  
Development Goals, applying eco-design principles to solutions  
development  and  taking  into  account  environmental  costs  
when assessing the value of new services;  
3. IT for Sustainability:harnessing the potential offered by new  
technologies  to  develop  innovative  solutions  that  protect  the  
environment and the climate.  
IT for Sustainability projects  
Collaborative  management  of  urban  mobility  and  
encouragement of low-carbon business travel for a large  
European city: In the area near the city’s airport, Sopra Steria is  
working with several companies and the municipal authoritiesto  
find  solutions  for  traffic  congestion  problems  affecting  the  
employees of its project partners. The project involves putting in  
place a collaborative mobility management system, by means of  
a  multi-stakeholder  digital  platform  to  calculate  reductions  in  
emissions  of  greenhouse  gases  and  other  air  pollutants  via  
changes in employee transport options. Several initiatives are in  
the  process  of  being  rolled  out:  reduction  in  single-occupancy  
vehicle  use  (9-point  reduction  by  lowering  single-occupancy  
vehicle  use  from  70%  to  69%  since  the  start  of  the  project),  
development of alternative mobility options (10-point increase by  
raising  bicycle  use  from  10%  to  20%  and  4-point  increase  by  
expanding  carpooling  from  8%  to  12%  since  the  start  of  the  
project,  and  approaches  to  optimise  business  travel.  Thanks  to  
this project, five partner companies have been able to avoid 17  
tonnes of GHG emissions per day. This project was selected and  
funded under the Urban Innovative Actions (UIA) programme, an  
EU initiative.  
EXAMPLES OF INITIATIVES AND PROJECTS IMPLEMENTED  
BY THE GROUP  
Carbon neutral Sopra Steria project teams:  
Sopra  Steria’s  teams  are  carbon  neutral.  All  Group  business  
travel  has  been  carbon  neutral  since  2015,  and  the  Group’s  
offices  and  data  centres  have  been  covered  by  "net  zero"  
certification since 2020.  
The  Green  Ops  tool  is  used  to  calculate  the  environmental  
footprint  of  a  Sopra  Steria  team  deployed  to  either  a  Sopra  
Steria  site  or  a  client  site.  This  tool  can  estimate  the  
environmental impact of resources used by an employee during  
an  assignment  (printing,  digital  services,  IT  and  telephony  
equipment,  travel,  etc.).  The  impact  is  given  in  emissions  
(CO e), cubic metres of water consumed and kilowatt-hours of  
2
primary energy consumed.  
Sustainable IT projects  
Digital  sobriety  training  for  a  French  government  
ministry: Sopra Steria helped embed digital sobriety through  
awareness-raising  and  training  for  project  teams,  so  as  to  
develop the skills needed to measure the environmental impact  
of a digital solution, identify areas for improvement and create  
key performance indicators.  
Artificial  intelligence  in  pursuit  of  sustainability  for  a  
European  manufacturer:  Sopra  Steria  is  using  sustainable  
development solutions powered by artificial intelligence in pursuit of  
three  goals   cutting  costs,  increasing  return  on  investment  and  
reducing  environmental  impact.  AI  can  lengthen  a  machine’s  life  
cycle by optimising utilisation and maintenance.  
Cloud  migration:  Today,  these  migrations  must  address  
issues of resilience and scalability, while including the ability to  
create  new  innovative  services  and  encompassing  the  notions  
of  data  sovereignty  and  sustainability.  In  this  vein,  for  a  
company  in  the  logistics  sector,  Sopra  Steria  optimised  and  
migrated  critical  workloads  to  the  cloud,  thus  helping  this  
operator move closer to meeting its "net zero" emissions goal.  
Decarbonisation  strategy  of  a  UK  property  management  
firm:  the  aim  of  the  project  is  to  calculate  this  property  
management  firm’s  greenhouse  gas  emissions  for  regulatory  
reporting purposes and to devise a strategy to make the company  
carbon neutral.  
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4
CORPORATE RESPONSIBILITY  
Environmental responsibility: Innovating all along our value chain  
ensure that they have in place emissions reduction targets:20%  
in 2023, 45% in 2024 and 90% by end 2025.  
4.4. Future outlook  
This section applies the recommendations of CDSB REQ-06/TCFD(1)  
.
We  will  continue  to  run  supplier  engagement  programmes  in  
countries  where  we  have  a  strong  presence,  encouraging  our  
suppliers  with  the  help  of  a  variety  of  communication  and  
assessment software platforms (such as EcoVadis and Provigis).  
Our primary goal over the next decade is to continuously reduce our  
greenhouse  gas  emissions  and  achieve  "net  zero"  emissions  in  
accordance with the UN’s "Climate Neutral Now" programme, with  
the following milestones:  
As  a  leading  business  in  the  fight  against  climate  change,  Sopra  
Steria  will  also  continue  to  dialogue  and  work  with  political  
decision-makers  and  other  top-tier  organisations,  including  
universities, to incubate and develop innovative solutions.  
1. By  end  2022:  achieve  "net  zero"  emissions  from  our  direct  
operations (offices, data centres and business travel);  
2. By  end  2025:  add  waste,  employee  commuting  and  indirect  
energy to activities covered by our "net zero" emissions pledge;  
3. By end 2028: include the whole of the value chain by adding  
4.5. Environmental reporting  
This  section  applies  the  recommendations  of  CDSB  REQ-07,  08,  
purchases of goods and services;  
Alongside  our  emissions  reduction  strategy,  we  will  continue  to  
publicly  disclose  our  risks  and  opportunities  in  accordance  with  
TCFD  guidelines  and  any  other  new  European  and/or  domestic  
directives  on  an  annual  basis.  We  will  use  trends  from  the  most  
appropriate  internationally  recognised  scenarios  in  our  qualitative  
and  quantitative  scenario  analysis  to  determine  the  main  areas  in  
which  we  need  to  develop  strategies  to  mitigate  and  adapt  our  
operations.  
09/TCFD(1)  
.
Environmental  reporting  information  is  set  out  in  Section 1.3,  
“Overview of reporting scope”, of this chapter (pages 104 to 105).  
4.6. Compliance and assurance  
in relation to environmental  
reporting  
We  will  continue  to  support  our  clients  as  they  transition  to  a  
low-carbon economy by providing them with advice, software and  
services based on the following:  
This  section  applies  the  recommendations  of  CDSB  REQ-11,  
12/TCFD(1)  
.
1. Sustainable  IT:  accelerating  adoption  of  digital  sustainability,  
notably  by  selecting  the  infrastructure  and  technologies  most  
closely  aligned  with  clients’  and  the  Group’s  Sustainable  
Development Goals, applying eco-design principles to solutions  
development  and  taking  into  account  environmental  costs  
when assessing the value of new services;  
Compliance (CDSB REQ-11/TCFD)(1)  
As the first of ten signatory companies, Sopra Steria made a public  
commitment  during  Climate  Week  NYC  in  September 2017  to  
disclose  climate-related  information  in  accordance  with  guidelines  
issued  by  the  Task  Force  on  Climate-related  Financial  Disclosures  
(TCFD) for a period of three years.  
2. IT  for  Sustainability:  harnessing  the  potential  offered  by  new  
technologies  to  develop  innovative  solutions  that  protect  the  
environment and the climate.  
Sopra  Steria  opted  to  use  the  Climate  Disclosure  Standards  Board  
(CDSB) framework because it complies with TCFD guidelines. Since  
2017,  the  Group  has  provided  a  CDSB  cross-reference  table  in  its  
annual report demonstrating compliance.  
In order to cover the whole of the value chain, we are maintaining  
our  supplier  engagement  programme  together  with  our  target  
validated  by  SBTi:  “Sopra  Steria  is  committed  to  ensuring  that  
suppliers accounting for at least 70% of its supply chain emissions  
control their GHG emissions, and that 90% of those suppliers have  
in place GHG emissions reduction targets by 2025”. Our approach  
to meeting this commitment is a phased programme with a number  
of milestones:  
This  report  on  2020  data  uses  the  structure  set  out  in  the  CDSB  
framework to provide the required information in a fully compliant  
manner.  
Assurance information is set out in the next section.  
Assurance (CDSB REQ-12/TCFD)(1)  
1. Over  the  period  2019-2023,  assess  the  emissions  of  the  
following  proportions  of  suppliers  accounting  for  70%  of  our  
supply  chain  emissions:  40%  in  2019,  60%  in  2020,  80%  in  
2021 and 100% by end 2023;  
Independent  assurance  meeting  ISAE 3000  is  provided  by  an  
independent third party, which carries out checks on a reasonable  
assurance basis on figures in the report identified by thesign, the  
majority  of  which  relate  to  greenhouse  gas  emissions  (excluding  
greenhouse gas emissions from the supply chain, which are verified  
on a limited assurance basis). This assurance is set out in Section 8,  
“Report  by  the  independent  third  party  on  the  consolidated  
statement  of non-financial  performance  presented  in  the  
management report”, of this chapter (pages 153 to 154).  
2. Over the period 2020-2025, assess the following proportions of  
suppliers accounting for 70% of our supply chain emissions to  
ensure that they are controlling their emissions: 30% in 2023,  
65% in 2024 and 100% by end 2025;  
3. Over the period 2020-2025, assess the following proportions of  
suppliers accounting for 70% of our supply chain emissions to  
(1) CDSB REQ: For more information, see the Glossary on page 308.  
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CORPORATE RESPONSIBILITY  
Ethics and compliance  
5.
Ethics and compliance  
The  Group’s  ethical  values  and  principles,  which  constitute  a  
fundamental  aspect  of  its  culture,  are  laid  down  in  its  Code  of  
Ethics.  They  guide  Sopra  Steria’s  development  and  serve  as  the  
foundation  for  all  its  policies  and  commitments.  The  Group’s  
number  one  priority  in  carrying  on  its  day-to-day  activities  is  the  
observance of ethical principles.  
Internal  Control  Department  to  review  compliance  issues  and  
programme  progress  and  implementation,  more  specifically  
concerning the programme to prevent and combat corruption and  
influence peddling.  
The Internal Control Department and the Internal Audit Department  
meet  regularly  to  exchange  updated  information,  notably  
concerning the audit plan and the identification of risks.  
In  keeping  with  the  values  and  ethical  principles  it  promotes,  the  
Group  has  adopted  an  Ethics  and  Compliance  programme  
concerning  in  particular  human  rights,  fundamental  freedoms,  
measures  to  prevent  corruption  and  influence  peddling,  duty  of  
vigilance,  compliance  and  transparency  in  relation  to  tax  
regulations, confidentiality and the protection of personal data.  
Risk  management  and  control  within  the  Group,  and  the  
relationship  with  the  Internal  Audit  Department  and  external  
auditors, are described in more detail in Section 3, “Internal control  
and  risk  management”,  chapter 2  of  this  Universal  Registration  
Document (pages 44 to 48).  
Under  the  Group’s  risk  mapping  exercise,  risks  associated  with  
regulatory compliance are classed as main risks for the Group.  
5.2. Policies and procedures  
5.2.1. A CODE OF ETHICS AND CORE VALUES
SUPPORTED AT THE HIGHEST LEVELS
OF THE GROUP
Sopra Steria is a signatory to the United Nations Global Compact,  
in the Global Compact Advanced reporting category, and adheres to  
the  principles  and  fundamental  entitlements  of  the  Universal  
Declaration of Human Rights of the United Nations and the Charter  
of Fundamental Rights of the European Union.  
The Sopra Steria Code of Ethics expresses the Group’s values and is  
based on shared ethical principles that apply to all Group entities,  
including in particular respect, integrity and transparency. Through  
this  code,  the  Group  is  committed  to  abiding  by  laws  and  
regulations in force in the countries in which its entities operate, as  
well  as  operating  to  the  strictest  possible  standards  of  business  
conduct. With a forward written by the Chairman of the Board of  
Directors,  it  is  supported  by  Group  management,  which  is  
responsible  for  ensuring  that  these  rules  are  observed.  The  code  
applies  to  all  Sopra Steria  employees  to  ensure  that  the  Group’s  
businesses operate effectively.  
Sopra Steria supports the United Nations Sustainable Development  
Goals 1, 4, 8, 11, 12, 13 and 16 related to ethics and compliance.  
5.1. Governance and organisation  
Sopra Steria  has  decided  to  bring  together  compliance,  internal  
control  and  risk  management  within  the  Internal  Control  
Department,  which  reports  directly  to  the  Group’s  Executive  
Management. This department appears before the Audit Committee  
and  the  Nomination,  Governance,  Ethics  and  Corporate  
Responsibility Committee at regular intervals.  
The Code of Ethics is supplemented by a Code of conduct for stock  
market transactions covering securities trading and the prevention  
of insider dealing in compliance with the European Market Abuse  
Regulation (Regulation (EU) 596/2014), a Code of conduct for the  
prevention  of  corruption.  The  relevant  information  is  set  out  in  
Section 3.4, Responsible purchasing”, of this chapter (pages 119  
to 120).  
This  structure  allows  for  centrally  coordinated,  Group-wide  
governance  to  deal  with  compliance  issues,  compliance  controls,  
whistleblowing and risks.  
The Internal Control Department oversees compliance issues and  
p
coordinates all stakeholders involved in compliance and internal  
control  across  the  Group.  The  Internal  Control  Director  is  the  
primary  reference  point  for  the  whistleblowing  system  in  her  
capacity as Group Compliance Officer;  
These  documents  are  available  from  the  Ethics  and  Compliance  
This department is supported by the network of Internal Control  
and Compliance Officers, appointed to work with local teams in  
each Group entity;  
p
5.2.2. CORE RULES AND GROUP PROCEDURES
Beyond  the  Code  of  Ethics,  which  reaffirms  the  Group’s  
fundamental  principles  and  values,  the  compliance  system  within  
Sopra Steria  is  supported  by  a  common  core  of  rules  and  
procedures  (management,  human  resources,  purchasing,  sales,  
operations and production, finance and accounting, security, etc.).  
It  also  works  with  the  Group-level  functional  and  operational  
p
departments,  each  with  expertise  in  its  own  area  (Human  
Resources  Department,  Legal  Department,  Finance  Department,  
Purchasing  Department,  Industrial  Department,  and  Corporate  
Responsibility  and  Sustainable  Development  Department).  To  
ensure  that  all  compliance  issues  are  covered,  each  of  these  
departments  has  its  own  correspondents  within  the  Group’s  
various entities.  
As  part  of  the  compliance  programme,  work  was  undertaken  at  
Group  level  in  2020  to  continuously  improve  existing  rules  and  
clarify guidelines and procedures to ensure that regulatory changes  
are  taken  into  account,  best  practice  is  adopted  and  these  
procedures  are  applied  and  controlled  within  the  Group  on  an  
ongoing basis.  
Monthly  steering  meetings  unite  the  Chairman,  Executive  
Management, Finance Department, Internal Audit Department and  
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Ethics and compliance  
An e-learning module for all staff, which was rolled out on  
a phased basis starting in December 2018 and is available in  
five  languages.  It  is  easily  accessible  via  the  website  of  
Sopra Steria’s  training  organisation.  The  module  includes  
several interactive sections, six of which consist of one or more  
videos  and  real-life  situations,  covering  the  following  themes:  
legal framework, hospitality and gifts, public officials, conflicts  
of  interest,  intermediaries,  sponsoring  and  patronage,  
facilitation  payments  and  whistleblowing  system.  At  
31 December  2020,  92%  of  Group  staff  had  completed  this  
e-learning  module.  In  2021,  the  e-learning  module  will  be  
refreshed to reflect updated procedures;  
5.3. Measures to prevent and combat  
corruption  
The Sopra Steria Group is committed to having measures in place to  
safeguard  against  risks  arising  from  exposure  to  corruption  and  
influence  peddling.  These  measures  help  protect  the  Group’s  
reputation  and  maintain  the  trust  of  its  internal  and  external  
partners  and  stakeholders.  To  this  end,  the  Group  applies  a  
zero-tolerance  policy  with  respect  to  corruption  and  influence  
peddling.  The  Group’s  approach  to  preventing  and  combating  
corruption  is  based  on  the  principles  laid  down  in  the  United  
Nations  Global  Compact  and  on  compliance  with  local  legislation  
and regulations prohibiting corruption.  
Classroom  training  for  those  considered  the  most  at  risk:  
managers, sales staff, procurement staff, etc. The objectives of  
this  training  are  to  familiarise  staff  with  Group  rules  and  
procedures  for  preventing  and  combating  corruption  and  
influence peddling, enable them to identify key contacts within  
the  Group  and  equip  them  with  an  understanding  of  best  
practice  through  role  play  exercises  based  on  real-world  
internationalexamples;  
In particular, the following measures are in place:  
A  high  degree  of  executive  involvement  in  the  
p
implementation  and  monitoring  of  the  Group’s  programme  to  
prevent corruption and influence peddling. This firm commitment  
takes  shape  in  particular  through  the  Group’s  specific  Code  of  
conduct  covering  these  issues,  the  direct  oversight  of  the  
programme  at  the  Internal  Control  Department’s  steering  
meetings,  informational  meetings  for  senior  managers  and  
regular  communications  campaigns  targeting  all  Group  
employees;  
Strengthened  control  and  audit  procedures:  The  specific  
controls  are  covered  in  the  procedures  developed  under  the  
programme  for  the  prevention  of  corruption  and  influence  
peddling and may be either ongoing or periodic. In addition to  
the first-level controls carried out in the form of self-checks by the  
employees concerned and by line managers, controls are mainly  
performed,  depending  on  the  area  involved,  by  the  functional  
departments  concerned  (Finance  Department,  Internal  Control  
Department,  Industrial  Department,  Legal  Department,  Human  
Resources Department). The procedures are also assessed by the  
Internal  Audit  Department  when  auditing  the  Group’s  
subsidiaries and/or divisions, by running through some 30 specific  
checks,  and  during  specific  compliance  audits  as  part  of  the  
internal audit programme;  
p
A  Group-wide  organisational  structure  in  charge  of  
p
managing, monitoring and controlling the framework, through  
a  network  of  Compliance  Officers,  who  have  responsibility  for  
compliance and risk management issues within each entity;  
A specific risk-mapping exercise for bribery and influence  
p
peddling  risks,  carried  out  at  the  same  intervals  and  applying  
the same methodology used for the overall risk mapping exercise,  
and shared with the affected staff;  
A  specific  Code  of  conduct  for  the  prevention  of  
p
corruption and influence peddling, including a foreword by  
the Chairman of the Board of Directors and the Chief Executive  
Officer and illustrated with real-world examples, as a supplement  
to the Code of Ethics. This Code of conduct has been translated  
into 10 languages and covers all Group entities;  
A  whistleblowing  system  incorporating  French  legal  
requirements laid down in the Sapin II Law and duty of vigilance  
legislation. This system has been rolled out to all Group entities. It  
is  also  accessible  to  the  Group’s  external  stakeholders,  and  in  
particular its clients, suppliers and other business partners, via the  
Ethics  and  Compliance  page  of  the  Group’s  website  at  
p
A  disciplinary  regime  based  on  the  Code  of  conduct  
p
enforceable  against  all  employees  since  its  inclusion  in  the  
Group’s  internal  rules  and  regulations,  or  through  any  other  
mechanism in force at Group entities;  
To the best of the company’s knowledge at the time of writing this  
Universal  Registration  Document,  neither  Sopra  Steria,  nor  its  
subsidiaries nor any member of an administrative or management  
body have been found guilty of corruption or influence peddling at  
any time in the last five years.  
Specific,  formal  procedures,  allowing  in  particular  for  the  
p
implementation of the associated first- and second-level controls,  
in order to respond to situations identified as potentially exposed  
to  risk.  For  example:  Policy  on  hospitality;  policy  on  gifts;  
procedures  relating  to  conflicts  of  interest;  procedure  for  client  
events; procedure relating to export operations, which continued  
its rollout during the year;  
5.4. Tax regulations and transparency  
- Fight against tax evasion  
A  strict  procedure  for  assessing  third  parties,  including  
p
clients,  suppliers  and  subcontractors.  In  this  regard,  the  Group  
has formalised and rolled out a new purchasing procedure and  
expanded its suppliers’ charter to cover all new regulations, and  
more specifically regulations relating to the Sapin II Law and the  
duty of vigilance;  
In tax matters, Sopra Steria Group is committed to complying with  
the  tax  laws  and  regulations  applicable  in  all  of  the  countries  in  
which  it  is  present.  Sopra  Steria  acts  in  line  with  its  values  and  
ethical principles of integrity, commitment and accountability.  
Accordingly,  the  Group  pays  its  taxes  and  duties  in  the  countries  
where  its  operations  are  located  and  where  value  is  created.  This  
approach is pursued in accordance with international guidelines and  
standards,  such  as  those  of  the  OECD,  particularly  in  relation  to  
transfer  pricing  for  cross-border  transactions  between  Group  
companies.  In  this  respect,  the  Group  does  not  engage  in  tax  
evasion or any other practice contrary to its ethical standards.  
A  Group  training  programme  aimed  at  raising  awareness  
p
among all employees, using a practical and accessible approach,  
and training those segments of the workforce considered as the  
most exposed in light of the results of the risk mapping exercise  
for bribery and influence-peddling risks. This programme is based  
on the following:  
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Ethics and compliance  
Sopra Steria does not make use of aggressive tax planning or any  
structuring methods for its transactions that would detach the tax  
location  from  the  location  of  business  activity.  The  Group  thus  
abstains from establishing operations in tax havens (uncooperative  
countries  or  territories  on  the  official  French  list  or  the  European  
Union’s  blacklist),  has  no  bank  accounts  at  banks  established  in  
such  countries  or  territories,  and  more  generally  abstains  from  
creating any entities that have no economic substance or business  
purpose.  
The  review  of  various  internal  and  external  media  to  ensure  
compliance with legal and regulatory requirements;  
p
p
The  provision  of  standard  contracts  and  clauses  covering  the  
protection  of  personal  data  in  the  context  of  contractual  
relationships with clients, subcontractors and suppliers;  
The rollout of a mandatory training module for all existingGroup  
employees and for every new employee;  
p
p
The  management  of  the  whistleblowing  procedure  to  report  
actual or suspected abuses and irregularities relating to personal  
data.  
Sopra Steria  Group  is  regularly  audited  by  the  competent  tax  
authorities, with which it fully cooperates. The Group complies with  
the deadlines specified by tax authorities for providing responses to  
their  queries,  meets  all  of  its  reporting  requirements  and  pays  its  
taxes as required by law.  
All  external  growth  transactions  involve  a  due  diligence  process  
covering the processing of personal data. Acquired companies are  
added to this compliance programme upon joining the Group.  
In  addition,  at  Sopra  HR  Software,  the  Sopra Steria  Group’s  HR  
solutions  publisher  subsidiary,  the  Binding  Corporate  Rules  (BCR)  
have been in place within its entities since 2015.  
To limit tax risks relating to its activities, and to take advantage of  
existing tax incentives, exemptions and relief, in accordance with tax  
laws and the reality of its activities, the Group may enlist the services  
of  outside  tax  consultants.  All  advice  thus  received  is  reviewed  
internally to ensure that any resulting application is consistent with  
the Group’s tax principles.  
5.5.2. PROTECTING AND SECURING CLIENT DATA
The Group has put in place a policy and robust system across all its  
entities and operations, supported by an appropriate organisational  
structure, procedures and controls that are reviewed annually. This  
point  is  presented  in  Section 1,  “Risk  factors”,  chapter 2  of  this  
Universal Registration Document (pages 36 to 42).  
5.5. Data protection  
5.5.1. PROTECTION OF PERSONAL INFORMATION
As regards awareness-raising and training in the area of information  
security  more  specifically,  the  Group  has  a  catalogue  of  training  
made  available  to  employees  via  the  Group  Academy.  Employees  
may take one or more of these training courses a year depending on  
their role. As regards awareness-raising, two e-learning modules are  
available,  which  are  reviewed  every  two  years.  These  are  also  
supplemented  by  information  messages  and  best  practice,  which  
are constantly shared on the Group’s intranets.  
Regulation  (EU)  2016/679  of  the  European  Parliament  and  of  the  
Council of 27 April 2016  known as the General Data Protection  
Regulation,  or  GDPR   entered  into  force  on  25 May  2018.  
Sopra Steria  Group  and  its  subsidiaries  have  rolled  out  a  
programme intended to ensure compliance with this regulation and  
local laws.  
This programme is directed by the Group’s Legal Department, which  
is  responsible  for  coordinating  measures  to  protect  personal  data  
processed  by  Group  companies  (both  for  their  own  purposes  and  
on behalf of their clients).  
5.6. Duty of vigilance and vigilance  
plan  
This section presents the vigilance plan, which covers all reasonable  
vigilance measures aimed at identifying risks and preventing serious  
violations  of  human  rights  and  fundamental  freedoms  as  well  as  
adverse  impacts  on  health,  safety  and  the  environment,  as  laid  
down  by  the  French  duty  of  vigilance  law  (Law  no. 2017-399  of  
27 March 2017).  
This  programme  is  underpinned  by  an  organizational  and  
governance structure and an overarching policy on the protection of  
personal data.  
The organisational and governance structure has two tiers: a group  
tier  and  a  local  (country/entity)  tier.  Data  Protection  Officers  have  
been appointed within each of the Group entities concerned. The  
Group Data Protection Officer relies on this structure to roll out the  
compliance programme across the Group.  
These  risks,  serious  violations  and  adverse  impacts  include  those  
resulting from the activities of the Company and of the companies it  
controls,  within  the  meaning  of  Article L. 233-16  of  the  French  
Commercial  Code,  whether  directly  or  indirectly  and  across  the  
Group’s entire scope of operations, as well as from the activities of  
subcontractors  or  suppliers  with  which  Sopra Steria  has  business  
relations, in France and around the world.  
This programme has the following goals in particular:  
The rollout of a specific tool to keep records of all processing of  
p
personal data by Group entities, both for their own purposesand  
on behalf of their clients;  
The implementation of specific procedures to respond to requests  
p
received  from  individuals  exercising  their  rights  relating  to  
personal  data,  including  the  right  of  access,  the  right  to  
rectification,  the  right  to  object  to  processing  and  the  right  to  
remove data across the system, including archived and recorded  
data:  
The  vigilance  plan  was  prepared  by  the  main  departments  
responsible for the areas covered by the duty of vigilance, discussed  
with  the  Group’s  Executive  Committee  and  then  validated  by  
Executive Management. It was also presented to the Works Council.  
In  addition,  as  a  preliminary  step  for  the  preparation  of  the  plan,  
the  results  of  the  Group’s  risk  mapping  exercise  for  the  issues  
involved were aligned with those of its materiality analysis.  
For employees of Group companies,  
For third parties (for example, job applicants in connection with  
recruitment procedures),  
For  personal  data  processed  by  Group  companies  under  
contractual  arrangements  with  their  clients,  as  instructed  in  
writing by the latter;  
134  
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CORPORATE RESPONSIBILITY  
Ethics and compliance  
The  vigilance  plan  consists  of  four  components,  to  reflect  the  
measures required by the French duty of vigilance law:  
responsibility for the entire scope of the Group’s operations, namely  
the Human Resources Department, the Corporate Responsibility and  
Sustainable Development Department, the Purchasing Department,  
the  Industrial  Department,  the  Information  Systems  Department,  
the Legal Department and the Internal Control Department.  
A  mapping  of  risks  to  identify,  analyse  and  prioritise  the  risks  
p
relating to the duty of vigilance;  
Risk mitigation and prevention plans;  
p
Given  its  business  activities,  Sopra Steria  has  relatively  limited  
exposure  to  risks  relating  to  the  duty  of  vigilance.  Nevertheless,  
some of the risks identified were considered as having an impact,  
although  without  being  regarded  as  major  risks  falling  within  the  
scope of the duty of vigilance.  
A whistleblowing system for the receipt of reports relating to the  
p
existence of risks or the occurrence of risk events;  
A system to monitor the measures implemented and assess their  
p
effectiveness.  
The  vigilance  plan  is  reviewed  each  year,  in  light  of  possible  
developments in risks, the effectiveness of mitigation measures put  
in place, and developments in the Group’s business and operations.  
The  risk  areas  listed  below  relating  to  the  duty  of  vigilance  were  
analysed and prioritised in line with their severity and likelihood of  
occurrence  in  the  context  of  the  Group’s  business  activities  and  
those of its main suppliers:  
Furthermore,  reasonable  vigilance  measures  are  implemented  
gradually for newly acquired companies as part of the integration of  
these  companies  within  the  Group  and  with  respect  to  its  
procedures and systems.  
Human  rights  and  fundamental  freedoms:  diversity  and  equal  
p
opportunities, freedom of association and the right to collective  
bargaining, protection of personal data, respect for the rights of  
local  communities,  preventing  child  labour  and  forced  labour  
within the supply chain;  
5.6.1. RISK MAPPING EXERCISE
Health  and  safety:  right  to  health,  right  to  safe  and  healthy  
working  conditions  (e.g.  access  to  buildings,  sanitation,  safety  
and  security  of  business  travel),  prevention  of  occupational  
illnesses, healthcare benefits and workplace prevention measures;  
The mapping of risks relating to the duty of vigilance draws on the  
Group’s overall risk mapping exercise as well as the main challenges  
identified  during  the  preparation  of  the  Group’s  statement  of  
non-financial performance. The methodology used for the mapping  
of risks relating to the duty of vigilance is the same as that used for  
the  Group’s  overall  risk  mapping  exercise  and  thus  involves  
consultations  with  the  various  departments  concerned,  with  
p
p
Environment:  air  and  soil  pollution,  depletion  of  raw  materials,  
soil erosion and degradation, treatment of polluting waste, GHG  
emissions, degradation of ecosystems and biodiversity.  
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5.6.2. RISK MITIGATION AND PREVENTION PLANS
The continuous improvement approach adopted in line with the Group’s corporate responsibility policy put in place several years ago focuses  
on the various issues targeted by the French duty of vigilance law. The cross-reference table below indicates the sections within the statement  
of non-financial performance included in this document that describe the risk mitigation and prevention plans identified in the mapping of  
risks relating to the duty of vigilance.  
Area  
Category  
Mitigation plans and preventive measures  
Risks relating to the Group’s  
business activities  
Human rights and fundamental  
freedoms  
The relevant information is set out in Sections 2, 3 and 5 of  
this chapter, (pages 106, 115 and 132).  
Health and safety  
The relevant information is set out in Section 2.2.5, “Health  
and safety”, of this chapter (pages 112 to 113).  
Environment  
The relevant information is set out in Section 4,  
"Environmental responsibility: innovating all along our value  
chain", of this chapter (pages 122 to 131).  
Risks relating to the business  
activities of the Group’s suppliers  
Responsible purchasing  
The relevant information is set out in Section 3.4,  
“Responsible purchasing” of this chapter (pages 119  
to 120).  
5.6.3. WHISTLEBLOWING SYSTEM
5.6.4. SYSTEM TO MONITOR THE MEASURES
IMPLEMENTED AND ASSESS T
HEIR EFFECTIVENESS
The whistleblowing system put in place under the Sapin II Law on  
transparency,  anti-corruption  and  the  modernisation  of  economic  
life  also  covers  the  duty  of  vigilance.  This  system  is  accessible  to  
employees of all Group entities. A description of the whistleblowing  
system and its procedure is provided on the Group’s intranet as well  
as those of all its subsidiaries. Reports are to be submitted from a  
specific email address for each entity or at Group level. This is open  
to external stakeholders, including in particular the Group’s clients,  
suppliers and other business partners. It can be accessed from the  
Ethics  and  Compliance  page  of  the  Group’s  website  at  
www.soprasteria.com.  No  alerts  were  raised  in  the  course  of  the  
year in areas covered by the duty of vigilance legislation.  
For  risks  relating  to  the  duty  of  vigilance,  the  procedures  for  the  
regular assessment of the Group’s business activities and those of its  
subsidiaries, along with those of its main suppliers, are carried out  
at the level of the departments concerned. Each department with  
oversight for issues involving the duty of vigilance is responsible for  
monitoring the risks identified in the mapping of risks relating to the  
duty of vigilance.  
All  of  these  departments  are  involved  in  the  identification  and  
implementation  of  reasonable  and  appropriate  vigilance  measures  
for  their  respective  areas  of  responsibility.  They  report  on  their  
monitoring  activities  at  the  Group’s  steering  committee  meetings  
and  twice  a  year  to  the  Corporate  Responsibility  and  Sustainable  
Development Committee.  
The  risk  mitigation  and  prevention  measures  put  in  place  with  
regard to the duty of vigilance are reviewed as part of the Group’s  
internal  control  procedures  and  are  the  focus  of  a  consolidated  
report drawn up each year by the Internal Control Department and  
presented to Executive Management.  
136  
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CORPORATE RESPONSIBILITY  
SDG/GRI/TCFD-CDSB cross-reference table  
6.
SDG/GRI/TCFD-CDSB cross-reference table  
TCFD-CDSB  
(Climate Change
Reporting
Universal Registration Document  
Chapter/  
SDGs  
GRI  
Framework)
Page  
no.  
Section  
Chapter/Section heading  
1.  
Chapter 1 – Business overview and  
strategies  
Chapter 2 - Risk factors and internal  
control  
17  
35  
97  
2.  
REQ-03 Risks and
opportunities
4.  
Chapter 4 – Corporate responsibility  
1.  
Sopra Steria: A committed and responsible Group, making a sustainable, human and enlightened contribution  
1.1.  
Overview of the Group’s corporate  
responsibility strategy and governance  
99  
1.1.1.  
1.1.2.  
Contribution to Sustainable Development  
Goals through the materiality matrix  
A corporate responsibility governance  
100  
102  
REQ-01
structure supporting the Group’s priorities  
Governance
1.2.  
1.3.  
Major recognition  
Overview of reporting scope  
104  
104  
REQ-08 Reporting
policies
2.  
Social responsibility: A committed and responsible collective effort  
2.1  
2.2.  
2.2.1.  
2020 context  
Responsible employment challenges  
Attracting and retaining more talent  
106  
106  
107  
3. Good health and well-being  
8. Decent work and economic  
GRI 401-1,  
GRI 404-1  
GRI 404-3  
growth  
17.  
Partnerships for the goals  
2.2.2.  
2.2.3.  
Maintaining and developing skills  
Diversity and equal opportunity  
108  
109  
4. Quality education  
8. Decent work and economic  
growth  
5. Gender equality  
8. Decent work and economic  
GRI 406-1  
GRI 405-2  
growth  
10.  
17.  
Reduced inequalities  
Partnerships for the goals  
2.2.4.  
2.2.5.  
Labour relations  
Health and safety  
112  
112  
3. Good health and well-being  
GRI 407-1  
8. Decent work and economic  
growth  
3. Good health and well-being  
8. Decent work and economic  
growth  
2.3.  
Other labour-related information  
Jobs and the workforce  
Compensation  
113  
113  
114  
114  
10. Reduced inequalities  
2.3.1.  
2.3.2.  
2.3.3.  
GRI 102-8  
GRI 403-9  
Working conditions and organisation  
3. Good health and well-being  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE RESPONSIBILITY  
SDG/GRI/TCFD-CDSB cross-reference table  
TCFD-CDSB  
(Climate Change
Reporting
Universal Registration Document  
Chapter/  
SDGs  
GRI  
Framework)
Page  
no.  
Section  
Chapter/Section heading  
3.  
Societal responsibility: Engaging all our stakeholders to build a positive future for all  
3.1.  
Creating value for stakeholders  
115  
3. Good health and well-being  
GRI 102-12  
GRI 102-13  
GRI 102-40  
GRI 102-42  
8. Decent work and economic  
growth  
9.  
Industry, innovation and  
infrastructure  
11.  
17.  
Sustainable cities and  
communities  
Partnerships for the goals  
3.1.1.  
Summary of value creation for  
stakeholders  
115  
3.1.2.  
3.1.3.  
3.2.  
Advisory board  
Client satisfaction  
Innovation and strategic partnerships  
116  
116  
116  
8. Decent work and economic  
growth  
9.  
Industry, innovation and  
infrastructure  
11.  
16.  
17.  
Sustainable cities and  
communities  
Peace, justice and strong  
institutions  
Partnership for the goals  
3.2.1.  
Co-design to mobilise collective  
intelligence  
116  
3.2.2.  
3.2.3.  
DigiLabs: developing digital co-innovation  
NEXT: a space dedicated to a new client  
experience  
117  
117  
3.2.4.  
3.2.5.  
3.2.6.  
3.2.7.  
3.3.  
A strategy of partnering with leading  
market vendors  
SopraSteria Ventures: building an  
innovative European digital ecosystem  
Support for research and academic  
institutions  
Commitments in support of digital  
sovereignty  
Responsible digital technology  
117  
117  
118  
118  
118  
4. Quality education  
11. Sustainable cities and  
communities  
Responsible consumption and  
12.  
production  
13.  
16.  
Climate action  
Peace, justice and strong  
institutions  
3.3.1  
3.3.2  
3.4.  
The Exploratoire: the do tank for  
responsible digital technology  
Support for the Digital Humanism  
Department at the Collège des Bernardins  
118  
119  
119  
Responsible purchasing  
1. No poverty  
GRI 308-1  
5. Gender equality  
8. Decent work and economic  
growth  
10.  
12.  
Reduced inequalities  
Responsible consumption and  
production  
13.  
17.  
Climate action  
Partnerships for the goals  
3.4.1.  
3.4.2.  
3.4.3.  
Responsible purchasing policy  
2020 key achievements and results  
Main objectives for 2021  
119  
119  
120  
138  
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SDG/GRI/TCFD-CDSB cross-reference table  
TCFD-CDSB  
(Climate Change
Reporting
Universal Registration Document  
Chapter/  
SDGs  
GRI  
Framework)
Page  
no.  
Section  
Chapter/Section heading  
3.5.  
Community and patronage  
120  
1. No poverty  
2. Zero hunger  
3. Good health and well-being  
4. Quality education  
5. Gender equality  
6. Clean water and sanitation  
7. Affordable and clean energy  
8. Decent work and economic  
growth  
Reduced inequalities  
Sustainable cities and  
10.  
11.  
communities  
3.5.1.  
3.5.2.  
Key events  
A proactive policy involving the entire  
organisation, employees and civil society  
120  
120  
3.5.3.  
3.6.  
A framework for Group action to promote  
initiatives with a strong, lasting impact  
Regional impact  
120  
121  
9. Industry, innovation and  
infrastructure  
17.  
Partnerships for the goals  
4.  
Environmental responsibility: Innovating all along our value chain  
4.1.  
Environmental policy, strategy and targets  
122  
17. Partnerships for the goals  
GRI 305-1,  
GRI 305-2,  
GRI 305-4,  
GRI 305-5,  
GRI 302-1,  
GRI 302-2,  
GRI 302-4,  
GRI 302-5,  
GRI 413-1,  
GRI 102-56,  
GRI 102-27,  
GRI 102-28  
REQ-01
Governance
REQ-02
Management’s
environmental
policies, strategy
and targets
4.1.1.  
4.1.2.  
4.2.  
Environmental policy and strategy  
Environmental targets  
Environmental challenges: Opportunities  
for the Group  
122  
122  
123  
9. Industry, innovation and  
infrastructure  
GRI 102-15,  
GRI 201-2,  
GRI 102-1,  
GRI 102-7,  
GRI 308-2  
REQ-03 Risks and
opportunities
11.  
Sustainable cities and  
communities  
12.  
Responsible consumption and  
production  
Climate action  
Life on land  
13.  
15.  
4.2.1.  
Process for identifying environmental  
issues  
123  
4.2.2.  
4.3.  
Climate risks opportunities  
Environmental impact and performance  
123  
124  
6. Clean water and sanitation  
7. Affordable and clean energy  
8. Decent work and economic  
GRI 301-1,  
GRI 302-1,  
GRI 302-4,  
GRI 303-5,  
GRI 305-1,  
GRI 305-2,  
GRI 305-3,  
GRI 305-4,  
GRI 305-5,  
GRI 306-4,  
GRI 306-5,  
GRI 306-  
REQ-04 Sources of
environmental
impact
REQ-05
growth  
Industry, innovation and  
9.  
Performance
and comparative
analysis
infrastructure  
11.  
12.  
Sustainable cities and  
communities  
Responsible consumption and  
production  
13.  
14.  
15.  
17.  
Climate action  
Life below water  
Life on land  
Partnerships for the goals  
4.3.1.  
Roll out of the Environmental Management  
System (EMS)  
124  
4.3.2.  
4.3.3.  
Control resource consumption  
Increasing the proportion of renewable  
energy  
124  
125  
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SDG/GRI/TCFD-CDSB cross-reference table  
TCFD-CDSB  
(Climate Change
Reporting
Universal Registration Document  
Chapter/  
SDGs  
GRI  
Framework)
Page  
no.  
Section  
Chapter/Section heading  
4.3.4.  
Reducing GHG emissions resulting from  
our operations  
126  
4.3.5.  
4.3.6.  
Promoting the circular economy  
Ensuring the involvement and contribution  128  
of the entire value chain  
128  
4.3.7.  
4.4.  
Including digital sustainability in our value  
proposition  
Future outlook  
129  
131  
GRI 102-10,  
GRI 102-49,  
GRI 302-4,  
GRI 302-5,  
GRI 305-4,  
GRI 305-5,  
GRI 305-6  
REQ-06 Outlook
REQ-07
Organisational
boundary
REQ-08 Reporting
policies
4.5.  
4.6.  
Environmental reporting  
Compliance and assurance in relation to  
environmental reporting  
131  
131  
5.  
Ethics and compliance  
5.1.  
Governance and organisation  
132  
1. No poverty  
8. Decent work and economic  
growth  
13.  
16.  
Climate action  
Peace, justice and strong  
institutions  
5.2.  
Policies and procedures  
132  
132  
16. Peace, justice and strong  
institutions  
5.2.1  
A Code of Ethics and core values supported  
atthehighestlevelsoftheGroup  
5.2.2  
5.3.  
Core rules and Group procedures  
Measures to prevent and combat  
corruption  
132  
133  
4. Quality education  
16. Peace, justice and strong  
institutions  
5.4.  
5.5.  
Tax regulations and transparency - Fight  
against tax evasion  
Data protection  
133  
134  
16. Peace, justice and strong  
institutions  
16. Peace, justice and strong  
institutions  
5.5.1  
5.5.2  
5.6.  
Protection of personal information  
Protecting and securing client data  
Duty of vigilance and vigilance plan  
134  
134  
134  
8. Decent work and economic  
growth  
11.  
Sustainable cities and  
communities  
Responsible consumption and  
12.  
production  
13.  
16.  
Climate action  
Peace, justice and strong  
institutions  
5.6.1.  
5.6.2.  
5.6.3.  
5.6.4.  
Risk mapping exercise  
Risk mitigation and prevention plans  
Whistleblowing system  
System to monitor the measures  
implemented and assess their effectiveness  
135  
136  
136  
136  
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Annex: Social and environmental indicators  
7.
Annex: Social and environmental indicators  
The  elements  of  information  identified  with  the    symbol  have  been  audited  by  the  independent  third  party  to  provide  a  reasonable  
assurance opinion.  
7.1. Summary of social indicators  
WORKFORCE
WORKFORCE BY GEOGRAPHIC AREA (ACQUISITIONS INCLUDED)  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
45,960  
19,759  
26,201  
6,646  
4,982  
3,999  
3,304  
1,999  
976  
46,245  
19,499  
26,476  
6,305  
5,726  
4,189  
3,363  
1,792  
1,009  
308  
44,114  
19,013  
24,849  
6,407  
5,348  
4,060  
41,661  
18,649  
23,012  
6,181  
5,200  
3,562  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
Managers (“cadres”)  
2,842  
2,370  
279  
40,581  
40,014  
40,001  
38,626  
Note  
The notion of “cadres” is specific to France. The number of managers outside France is extrapolated from the figures for France.  
FULL-TIME EQUIVALENT (FTE) WORKFORCE (EXCLUDING INTERNS)  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
43,898  
18,464  
25,434  
6,374  
4,981  
3,951  
3,011  
1,996  
942  
44,230  
18,849  
25,381  
6,057  
5,724  
4,128  
2,733  
1,790  
944  
42,614  
18,439  
24,175  
5,903  
5,347  
4,005  
40,241  
18,086  
22,155  
5,956  
5,199  
3,511  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
2,655  
2,217  
of which Morocco  
267  
299  
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Annex: Social and environmental indicators  
WORKFORCE BY TYPE OF EMPLOYMENT CONTRACT  
Scope/Topic  
2020  
2019  
2018  
2017  
Permanent contracts  
Group  
France  
International (excluding France)  
of which United Kingdom  
of which India  
96.7%  
96.9%  
96.6%  
92.6%  
99.7%  
98.4%  
95.3%  
99.8%  
96.7%  
95.7%  
96.1%  
95.3%  
96.7%  
95.2%  
99.0%  
97.3%  
94.4%  
99.6%  
94.0%  
99.7%  
95.7%  
95.6%  
95.7%  
94.1%  
99.0%  
93.8%  
94.8%  
96.1%  
96.3%  
96.0%  
96.4%  
98.6%  
91.8%  
95.1%  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
Temporary contracts  
Group  
2.9%  
3.0%  
2.9%  
7.4%  
0.3%  
1.6%  
1.8%  
0.2%  
1.1%  
0.0%  
3.3%  
4.6%  
2.4%  
4.7%  
1.1%  
2.5%  
1.3%  
0.5%  
0.7%  
0.3%  
3.6%  
4.1%  
3.3%  
5.9%  
1.0%  
5.8%  
1.7%  
3.3%  
3.4%  
3.3%  
3.6%  
1.4%  
7.9%  
1.6%  
France  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
Internships  
Group  
France  
0.4%  
0.1%  
0.6%  
0.0%  
0.0%  
0.1%  
2.8%  
0.0%  
2.2%  
4.3%  
0.6%  
0.2%  
0.9%  
0.1%  
0.0%  
0.2%  
4.3%  
0%  
0.7%  
0.3%  
1.0%  
0%  
0%  
0.4%  
3.6%  
0.6%  
0.3%  
0.8%  
0%  
0%  
0.3%  
3.3%  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
5.4%  
0%  
of which Morocco  
AVERAGE LENGTH OF SERVICE FOR EMPLOYEES ON PERMANENT CONTRACTS  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
7.7  
8.6  
7.0  
10.3  
5.2  
5.7  
8.4  
4.1  
6.3  
5.2  
7.1  
8.0  
6.4  
10.3  
4.4  
5.0  
7.5  
4.1  
6.0  
4.1  
7.1  
8.0  
6.4  
10.7  
4.3  
5.0  
7.3  
8.0  
6.8  
10.8  
4.3  
5.2  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
7.3  
8.2  
of which Morocco  
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Annex: Social and environmental indicators  
AVERAGE AGE OF EMPLOYEES ON PERMANENT CONTRACTS  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
38.7  
38.5  
38.8  
43.9  
32.4  
38.4  
42.8  
38.1  
38.6  
33.7  
37.8  
37.8  
37.8  
43.6  
31.4  
37.5  
41.6  
38.0  
38.0  
32.0  
37.8  
37.5  
38.0  
44.2  
31.3  
37.4  
41.7  
37.8  
37.5  
38.0  
44.1  
31.2  
37.4  
42.7  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
TURNOVER RATE FOR EMPLOYEES ON PERMANENT CONTRACTS  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
13.6%  
10.1%  
16.1%  
15.2%  
23.2%  
15.3%  
11.9%  
12.4%  
14.4%  
17.3%  
17.7%  
15.9%  
18.9%  
21.7%  
19.4%  
20.5%  
14.7%  
12.8%  
13.0%  
25.5%  
16.9%  
16.2%  
17.4%  
19.4%  
21.6%  
16.6%  
12.4%  
15.6%  
14.5%  
16%  
20%  
18%  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
15%  
11%  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
Notes  
Turnover rate = [Number of leavers on permanent contracts − Number of leavers on permanent contracts having been with the Group for less than six months]/Number of employees on permanent  
contracts present on the last day of the reference period (excluding suspended employees).  
Attractiveness  
NEW STAFF ON ALL TYPES OF EMPLOYMENT CONTRACT  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
6,133  
2,045  
4,088  
1,293  
490  
632  
366  
517  
132  
10,844  
4,112  
6,732  
1,155  
1,695  
1,229  
651  
11,662  
4,356  
7,306  
1,083  
1,636  
1,414  
770  
9,500  
3,645  
5,855  
998  
1,595  
1,151  
586  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
499  
219  
of which Morocco  
57  
93  
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Annex: Social and environmental indicators  
NEW STAFF ON PERMANENT CONTRACTS  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
4,166  
1,189  
2,977  
723  
480  
566  
298  
459  
56  
8,047  
2,570  
5,477  
942  
1,620  
1,084  
488  
9,225  
3,135  
6,090  
784  
1,533  
1,193  
623  
7,366  
2,616  
4,750  
811  
1,356  
895  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
466  
428  
107  
of which Morocco  
12  
61  
Development of talent  
TRAINING (EXCLUDING WORK-LINKED TRAINING STUDENTS AND INTERNS)  
Scope/Topic  
2020  
2019  
2018  
2017  
Number of hours training provided during the year  
France  
India  
Spain  
Germany  
Norway  
Morocco  
United Kingdom  
1,207,065  
559,853  
209,113  
88,485  
56,424  
123,006  
17,187  
1,263,354  
619,219  
115,630  
94,114  
103,282  
140,874  
14,723  
1,244,583  
596,557  
180,105  
136,201  
36,972  
546,090  
161,578  
126,882  
35,678  
94,358  
11,476  
115,820  
19,651  
79,571  
83,117  
Scope/Topic  
2020  
2019  
2018  
2017  
Number of days training provided during the year  
France  
India  
Spain  
Germany  
Norway  
Morocco  
United Kingdom  
172,438  
79,979  
29,873  
12,641  
7,789  
17,572  
2,455  
11,367  
180,479  
88,460  
16,519  
13,445  
14,755  
20,125  
2,103  
85,222  
25,729  
19,457  
5,282  
78,013  
23,083  
18,126  
5,097  
16,546  
2,807  
13,480  
1,639  
11,874  
Scope/Topic  
2020  
2019  
2018  
2017  
Average number of days training per person (average FTE)  
France  
India  
Spain  
Germany  
Norway  
Morocco  
United Kingdom  
3.9  
4.3  
5.5  
3.1  
2.5  
9.3  
8.4  
1.8  
4.1  
4.2  
3.0  
3.3  
5.5  
11.8  
7.1  
1.9  
4.6  
4.8  
4.9  
2.0  
10  
4.3  
4.4  
5.2  
2.3  
10.3  
5.8  
9.3  
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Annex: Social and environmental indicators  
Labour relations  
Scope/Topic  
2020  
2019  
2018  
2017  
Number of agreements signed during the year  
56  
49  
36  
France  
UES (economic and employee unit)  
Sopra Steria  
Sopra Banking Software  
I2S  
Sopra HR Software  
CIMPA  
Galitt  
5
4
7
6
6
7
3
6
1
7
1
2
5
2
4
2
4
3
3
5
1
2
1
1
0
2
Cassiopae  
2
Germany  
Sopra Steria  
11  
3
0
18  
2
1
10  
1
0
17  
1
1
Sopra Banking Software  
Sopra HR Software  
CIMPA  
2
3
3
3
Belgium  
Sopra Steria  
0
0
0
0
0
0
2
0
Sopra Banking Software  
United Kingdom  
Sopra Steria  
Italy  
Sopra Steria  
2
0
0
0
0
1
0
0
Spain  
Sopra Steria  
0
1
Number of collective agreements in force  
326  
291  
241  
France  
UES (economic and employee unit)  
Sopra Steria  
Sopra Banking Software  
I2S  
Sopra HR Software  
CIMPA  
23  
13  
29  
21  
28  
28  
22  
14  
14  
31  
6
17  
28  
19  
16  
23  
21  
2
13  
16  
15  
21  
20  
3
13  
12  
Galitt  
Germany  
Sopra Steria  
Sopra Banking Software  
Sopra HR Software  
CIMPA  
81  
21  
0
70  
18  
13  
33  
55  
15  
12  
27  
35  
Belgium  
Sopra Steria  
Italy  
Sopra Steria  
United Kingdom  
Sopra Steria  
Spain  
11  
0
11  
5
9
2
13  
1
11  
1
12  
Sopra Steria  
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Health and safety  
WORKING CONDITIONS AND ORGANISATION  
Scope/Topic  
2020  
2019  
2018  
2017  
Notes  
France  
Frequency rate of workplace accidents in France  
Severity rate of workplace accidents in France  
Absence rate  
1.26  
0.013  
2.5%  
2.47  
0,023  
2.6%  
1.91  
0,056  
2.5%  
1.68 Rates calculated in business days.  
0,035 Rates calculated in business days.  
2.1% Rates calculated in business days.  
ORGANISATION OF WORK AND WORKING HOURS/PART-TIME WORK – EMPLOYEES ON PERMANENT CONTRACTS AT  
31DECEMBER  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
France  
6.1%  
6.3%  
5.9%  
12.1%  
0.0%  
5.5%  
5.9%  
5.9%  
5.9%  
12.8%  
0.1%  
6.3%  
8.8%  
6.1%  
6.0%  
6.2%  
14.1%  
0.2%  
5.9%  
9.0%  
6.3%  
6.2%  
6.3%  
13.0%  
0.2%  
6.9%  
9.4%  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
10.4%  
Diversity and equal opportunity  
PERCENTAGE OF EMPLOYEES WITH A DISABILITY  
Scope/Topic  
2020  
2019  
2018  
2017  
Notes  
*Old formula used until 2019  
that does not allowcomparison  
with 2020  
France  
2.21%  
3.06%*  
2.72%  
2.46%  
PROPORTION OF WOMEN IN THE WORKFORCE  
Scope/Topic  
2020  
2019  
2018  
2017  
Female staff  
Group  
France  
32.5%  
32.0%  
29.4%  
34.0%  
43.7%  
33.1%  
28.6%  
25.2%  
27.3%  
28.5%  
35.1%  
31.6%  
28.4%  
34.0%  
44.9%  
34.3%  
27.7%  
24.1%  
31%  
27%  
34%  
43%  
33%  
27%  
24%  
29.6%  
34.6%  
44.5%  
31.7%  
29.0%  
27.6%  
27.0%  
29.7%  
34.4%  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
Female new hires  
Group  
34.0%  
27.5%  
37.3%  
53.2%  
29.4%  
25.2%  
32.0%  
27.1%  
28.0%  
42.1%  
33.1%  
30.9%  
34.4%  
44.2%  
35.4%  
21.9%  
34.4%  
29.9%  
30.1%  
41.9%  
32.8%  
29.7%  
34.7%  
48.2%  
38.4%  
23.5%  
29.9%  
31%  
27%  
33%  
46%  
34%  
26%  
27%  
France  
International (excluding France)  
of which United Kingdom  
of which India  
of which Spain  
of which Germany  
of which Norway  
of which Italy  
of which Morocco  
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CORPORATE RESPONSIBILITY  
Annex: Social and environmental indicators  
Intergenerational approach  
PROPORTION OF YOUNG PEOPLE AND OLDER EMPLOYEES (INCLUDING INTERNS)  
Workforce by age bracket  
Scope/Topic  
2020  
2019  
2018  
2017  
Group  
Under 25  
Over 55  
7.0%  
9.9%  
10.0%  
8.7%  
9%  
8%  
9%  
8%  
France  
Under 25  
Over 55  
6.9%  
10.1%  
10.4%  
8.8%  
10%  
8%  
9%  
7%  
International (excluding France)  
Under 25  
Over 55  
7.1%  
9.7%  
9.6%  
8.6%  
9%  
9%  
9%  
9%  
Of which United Kingdom  
Under 25  
7.4%  
8.0%  
7%  
6%  
Over 55  
20.2%  
20.1%  
20%  
20%  
Of which India  
Under 25  
Over 55  
12.3%  
0.3%  
17.3%  
0.3%  
17%  
0.3%  
18%  
0.3%  
Of which Spain  
Under 25  
Over 55  
3.3%  
4.1%  
5.4%  
3.4%  
6%  
3%  
5%  
2%  
Of which Germany  
Under 25  
3.3%  
5.0%  
4%  
3%  
Over 55  
18.1%  
15.0%  
15%  
15%  
Of which Norway  
Under 25  
Over 55  
3.3%  
7.0%  
2.5%  
6.8%  
Of which Italy  
Under 25  
Over 55  
9.8%  
7.9%  
11.0%  
6.6%  
Of which Morocco  
Under 25  
Over 55  
10.0%  
0.4%  
14.4%  
0.7%  
PERCENTAGE OF OLDER EMPLOYEES (ALL CONTRACTS, EXCLUDING ACQUISITIONS)  
Scope/Topic  
2020  
2019  
2018  
2017  
Number of employees aged 45 and older  
5,491  
5,186  
4,919  
4,666  
Proportion of older employees (number of employees aged 45 and older  
divided by the total workforce at 31/12)  
Number of employees aged 55 and older  
29.3%  
1,883  
27.2%  
1,680  
26%  
1,499  
25.4%  
1,338  
Proportion of older employees (number of employees aged 55 and older  
divided by the total workforce at 31/12)  
10.10%  
8.8%  
8%  
7.3%  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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CORPORATE RESPONSIBILITY  
Annex: Social and environmental indicators  
7.2. Summary of environmental indicators  
TOTAL GREENHOUSE GAS EMISSIONS (BUSINESS TRAVEL, ENERGY, FUGITIVE EMISSIONS)  
Global greenhouse gas emissions (tCO  
Scope  
2
e)-Market-based  
Scope  
Scope  
1
2
3
Total Scopes 1, 2 3  
Year  
2020 2019 2018 2017 2015 2020 2019 2018 2017 2015 2020 2019 2018 2017 2015 2020 2019 2018 2017 2015  
Business travel**  
11,559 34,310 35,922 36,653 32,005  
Energy  
Diesel, gas, biodiesel  
2,315 2,664 1,685 1,821 2,237  
Offices and  
on-site data  
centres  
Grid electricity,  
district heating  
1,124 1,724 4,658 6,191 15,723  
Off-site data  
centres  
Grid electricity,  
1,132 1,250 1,321 1,142 1,227  
Fugitive emissions  
Total (including
fugitive emissions)*
Total (excluding
fugitive emissions)
1,403 2,048 1,633 1,725  
3,718 4,712 3,318 3,546  
2,315 2,664 1,685 1,821 2,237 1,124 1,724 4,658 6,191 15,723 12,691 35,560 37,243 37,795 33,232 16,130 39,948 43,586 45,807 51,192  
1,124 1,724 4,658 6,191  
12,691 35,560 37,243 37,795  
17,533 41,996 45,219 47,532  
N/A  
Total emissions  
per employee  
(excluding fugitive
emissions)
Total emissions  
per employee  
(including fugitive
emissions)
0.35  
0.38  
0.88  
0.93  
1.00  
1.04  
1.13  
1.18  
1.47  
Change in emissions per employee, 2020 compared with 2019  
(including fugitive emissions and joint ventures) 58.9% reduction  
Change in emissions per employee, 2020 compared with 2015(fugitive emissions included in 2020,  
hotel stays excluded in 2015, joint ventures excluded in 2015 but included in 2020) 74% reduction  
For energy, emissions are calculated using the market-based method, under which a nil emissions factor is applied if the energy source is “green”; otherwise, “residual mix” emissions factors issued by the Association of Issuing Bodies for  
European countries or “location-based” emissions factors issued by the International Energy Agency for non-European countries are applied. For business travel, the emissions factors used are those arising from the GHG Protocol. For 2020,  
the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) and all companies acquired during the year. For 2019, the scope  
for the calculation of indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS and SSCL joint venture sites) but does not include SAB or Sopra Financial Technology GmbH. For other  
years, the scope of calculated indicators includes all entities over which the Group has operational control (and therefore includes NHS SBS and SSCL joint venture sites) but does not include Kentor, Galitt, Beamap, Cassiopae or 2MoRO.  
* Fugitive emissions when available (not available for off-site data centres).  
** Data taking into account emission reductions due to green business travel in Germany (12,698 tCO2e, excluding the reduction in 2020).  
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4
CORPORATE RESPONSIBILITY  
Annex: Social and environmental indicators  
ENERGY CONSERVATION AND GREENHOUSE GAS EMISSIONS BY COUNTRY  
RESOURCE CONSERVATION  
GREENHOUSE GAS EMISSIONS
Offices and on-site On- and off-site data  
Business  
travel  
Fugitive  
emissions  
Offices and on-site data centres  
On- and off-site data centres  
data centres  
centres  
Proportion  
of total  
electricity  
consumption  
from  
renewable  
sources  
Proportion  
of electricity  
consumption  
from  
Air +  
road +  
train +  
hotels**  
Greenhouse  
gas emissions:  
market-based  
Greenhouse  
gas emissions:  
market-based  
renewable  
Energy consumption  
Scope Scope Scope  
sources****  
Energy consumption  
Scopes Scopes 1, 2  
2
Scopes  
2
1
2
Scope  
2
Scope  
1
3  
3 Scopes 2 3 Scope  
1
Scope  
tCO  
2
Scope  
tCO  
1
3  
Scope  
tCO  
3
Scope  
1
Unit  
MWh  
MWh  
MWh  
MWh  
MWh tCO  
2
e
2
e
2
e
tCO  
2
e
2
e
tCO2e  
TOTAL
2020
13,861
55,469
95%
91
25,573
25,663
54%
2,315
1,124
22
1,149
12,698
1,403
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2020  
2019  
2020  
2019  
2018  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
14,682  
13,742  
13,643  
12,987  
12,623  
515  
0
0
0
0
0
130  
97  
0
67,507  
67,448  
66,540  
63,043  
63,563  
1,341  
915  
821  
606  
1,612  
445  
3,435  
1,930  
1,564  
1,987  
2,177  
2,337  
1,580  
1,770  
2,162  
2,394  
2,275  
2,333  
43  
90%  
78%  
76%  
69%  
20%  
100%  
100%  
0%  
139  
254  
314  
367  
555  
0
0
0
0
0
0
0
0
0
0
0
0
0
25,544  
32,827  
33,769  
35,403  
35,208  
53  
25,683  
33,081  
34,083  
35,770  
35,763  
53  
50%  
60%  
61%  
63%  
2,664  
1,685  
1,821  
2,430  
2,237  
130.2  
0
0
0
0
0
24  
18  
0
0
0
1,724  
4,658  
6,391  
7,190  
15,723  
0
34  
58  
68  
88  
132  
0
0
0
0
0
0
0
0
0
0
0
0
0
1,270  
2,084  
1,854  
2,578  
3,829  
0
0
36  
0
37,164  
38,176  
38,133  
36,555  
2,048  
1,633  
1,725  
Africa*  
100%  
100%  
180.3  
462  
547.1  
461  
6.1  
4.6  
5
4.4  
0
0
7.6  
5
53  
53  
0
0
53  
53  
0
0
0
416  
377  
959  
259  
407  
377  
308  
324  
251  
358  
0
365  
275  
293  
487  
0
0
10  
25  
6
15  
0
34  
0%  
0%  
0%  
0
0
0
412  
0
0
Germany,  
Austria  
100%  
77%  
87%  
86%  
96%  
93%  
100%  
10%  
19%  
38%  
51%  
51%  
100%  
0%  
163  
130  
141  
422  
792  
1,007  
631  
829  
829  
2,218  
1,234  
1,122  
0
163  
130  
141  
422  
792  
1,007  
631  
829  
902  
2,364  
1,302  
1,186  
0
100%  
0%  
0%  
3,936  
9,460  
9,164.0  
9,046  
94  
103  
114  
221  
0
85  
86  
29  
145  
0
0
0
0
0
0
0
0
0
5
6.2  
0
0
63%  
8,183  
0
1,136  
1,694  
1,308  
2,196  
1,129  
1,029  
0
0
Benelux  
57%  
58%  
72%  
64%  
209  
312  
241  
404  
229  
190  
0
0
0
0
0
539.4  
1,152  
1,900  
1,208  
2,548  
7.2  
9
13  
21  
0
0
0
74  
145  
69  
64  
0
0
0
0
0
14  
27  
14  
0
0
0
0
0
0
0
0
Brazil  
10.5  
39  
45  
13.3  
32  
5
0.2  
0.4  
1
0.2  
0.1  
0.3  
0.3  
0
0
0
0
0
0
84  
208  
38  
31  
61  
54  
0
0
0
0
0
0
0
0
0
0
0
0
0%  
100%  
0%  
100%  
0%  
Bulgaria  
China  
0
0
0
0
0
16.5  
6.6  
Spain  
0
0
0
0
0
0
44  
29  
17  
3,179  
2,524  
2,812  
1,938  
5,390  
2,935  
334  
640  
753  
1,015  
1,655  
2,900  
2,372  
4,034  
4,107  
2,853  
3,184  
1,673  
61  
100%  
100%  
84%  
0%  
0%  
0%  
100%  
0%  
0%  
90%  
86%  
86%  
80%  
75%  
1%  
100%  
100%  
100%  
100%  
100%  
0%  
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11  
7
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
517  
573  
554  
434  
332  
644  
0
0
0
0
0
469.1  
1,359  
1,694  
2,182  
1,733  
11.3  
20  
13  
293  
1,140  
1,397  
484  
0
10.9  
United  
States  
12.9  
33  
17  
4,813.7  
14,138  
15,263  
16,342  
15,267  
0.3  
0.3  
0
96.6  
194  
427  
144  
65  
78  
27  
34  
4
France*  
27,314  
31,901  
30,510  
26,434  
26,489  
28,318  
6,112  
10,157  
10,223  
12,763  
12,244  
11,684  
13,363  
13,108  
13,442  
13,511  
12,684  
10,974  
1,903  
2,061  
2,173  
1,995  
1,792  
2,206  
13,363  
13,108  
13,442  
13,511  
12,684  
10,974  
1,975  
2,183  
2,337  
2,139  
2,070  
2,673  
27%  
18%  
28%  
31%  
281  
374  
260  
112  
739  
284  
85  
162  
189  
256  
417  
653  
624  
765  
782  
757  
822  
2,195  
0
India  
72  
123  
164  
144  
277  
467  
100%  
100%  
100%  
100%  
18  
31  
41  
36  
70  
115  
1,077.8  
4,627  
3,302.5  
2,582  
1,196  
1,775  
1,132  
1,355  
0
0
0
0
2,687  
9,581  
1,696  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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Annex: Social and environmental indicators  
RESOURCE CONSERVATION
GREENHOUSE GAS EMISSIONS
Offices and  
on-site  
data  
Offices and on-site On- and off-site data  
Business  
Fugitive  
centres  
On- and off-site data centres  
data centres  
centres  
travel emissions  
Proportion  
of total  
electricity  
consumption  
from  
renewable  
sources  
Proportion  
of electricity  
consumption  
from  
renewable  
sources****  
Air  
+
Greenhouse  
gas emissions:  
market-based  
Greenhouse  
gas emissions:  
market-based  
road +  
train +  
Energy  
consumption  
Energy consumption  
hotels**  
Scopes  
2
Scopes 1,  
2 3 Scopes 2 3 Scope  
Scopes  
2
Scope Scope  
1
Scope  
2
Scope  
2
Scope  
1
3  
1
Scope  
tCO  
2
Scope  
tCO  
1
3  
Scope  
tCO  
3
Scope  
1
Unit  
MWh  
MWh  
MWh  
MWh  
MWh  
tCO  
2
e
2
e
2
e
tCO  
2
e
2
e
tCO2e  
Italy  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015  
442  
381  
159  
131  
132  
157  
0
19  
16  
16  
24  
392  
569  
578  
606  
802  
723  
56  
345  
532  
481  
804  
657  
780  
10,397  
12,831  
13,712  
14,844  
10,840  
12,176  
254  
100%  
100%  
0%  
0%  
0%  
0
0
0
0
0
0
0
0
0
0
0
0
111  
98  
99  
0
0
0
0
0
81  
70  
29  
24  
27  
29  
0
3
3
3
4
0
0
0
0
0
0
0
0
0
3
3
3
4
4
5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
97  
84  
75  
188.8  
665.7  
665.9  
580  
1.8  
3
3
276  
282  
348  
288  
0
22  
28  
27  
619  
509  
502  
0
4.8  
508  
0%  
0
0
0
0
Monaco  
Poland  
90%  
100%  
100%  
100%  
0%  
9
68.4  
163.3  
217.6  
226  
0.3  
0
0
0
0
19  
16  
16  
24  
21  
24  
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
130  
115  
115  
51  
588  
385  
4,619  
4,951  
10,130  
11,412  
14,298  
14,595  
0
4%  
6%  
9%  
27  
3
21  
24  
0%  
0%  
567  
361  
4,619  
4,951  
10,130  
11,412  
14,298  
14,595  
0
4
5
493  
282  
119  
154  
929  
957  
832  
1,037  
0
151  
United  
Kingdom  
7,968  
9,208  
8,565  
8,177  
4,563  
5,462  
0
0
0
0
0
0
0
0
0
0
0
0
94  
100%  
100%  
60%  
60%  
72%  
70%  
100%  
100%  
0%  
93%  
93%  
78%  
79%  
1,468  
1,696  
933  
981  
992  
1,067  
0
0
0
0
0
0
0
0
0
0
0
0
22  
22  
25  
39  
23  
9
782.1  
3,527.8  
3,907.3  
4,443  
72.7  
33  
32  
0
2,016  
2,317  
1,450  
1,844  
0
0
96  
202  
111  
40  
173  
4,195  
Singapore  
30.5  
88.8  
99.4  
89  
0
0
0
0
235  
242  
463  
243  
0
0
0
0
0
0
0
0
0
0
0
0
0%  
0%  
0%  
91  
79  
0
0
0
Scandinavia  
Switzerland  
1,470  
1,945  
2,407  
2,451  
2,182  
2,362  
197  
453  
355  
335  
339  
100%  
100%  
100%  
100%  
10%  
20%  
100%  
100%  
100%  
100%  
100%  
99%  
4,264  
3,924  
4,032  
3,753  
3,598  
3,841  
464  
390  
1,928  
431  
433  
1,103  
4,264  
3,924  
4,032  
3,753  
3,598  
3,841  
464  
390  
1,928  
431  
433  
1,103  
72%  
75%  
82%  
88%  
63  
329  
279  
359  
201  
699  
26  
3
0
0
0
432.3  
1,180.3  
1,067.3  
704  
0
0
0
0
0
0
1.9  
2
2
6
102  
103  
74  
849  
90  
2
1
7
6
496  
81%  
100%  
100%  
100%  
129.2  
220.4  
278.3  
270  
92  
111  
163  
97  
0
0
0
6
23  
0
144  
283  
116  
653  
*
Africa includes Lebanon, Senegal, Cameroon, Côte d’Ivoire, Gabon, Morocco and Tunisia. France includes French Polynesia.  
** Data no taking into account  mission reductions du to green business tr vel in Germany. Includin these emission reductions resulting from green business travel, the amounts would be: 11,559 tCO  
35,922 tCO e in 2018, 36,653 tCO e in 2017 and 35,316 tCO e in 2016.  
t
e
e
a
g
2e in 2020, 34,310 tCO2e in 2019,  
2
2
2
*** Data not published in the 2015 and 2016 reports.  
**** Joint ventures sites are only included from 2018.  
In 2020, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) as well as new acquisitions Sodifrance, Anteo  
(Consulting and E-Business Solutions), Holocare and cxpartners.  
In 2019, the scope for the calculation of business travel and energy indicators includes all entities over which the Group has operational control but does not include SAB or Sopra Financial Technology GmbH.  
150  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
4
CORPORATE RESPONSIBILITY  
Annex: Social and environmental indicators  
RESOURCE CONSERVATION
ENERGY CONSUMPTION
Scope  
2018  
(MWh)
Scope  
1
2
Scope  
3
Total Scopes 1, 2 3  
2020 2019 2018 2017  
Year  
2020  
2019  
2018  
2017  
2015  
2020  
2019  
2017  
2015  
2020  
2019  
2018  
2017  
Diesel,  
gas,  
biodiesel 13,770 14,543 13,488 13,330 12,623  
District  
heating  
4,485  
3,933  
3,705  
3,803 63,563  
Grid  
electricity  
Offices  
41,360 54,650 48,976 45,707  
Diesel,  
gas,  
biodiesel  
91  
139  
254  
314  
On-site data  
centres  
Grid  
electricity  
9,623  
8,924 14,768 17,035  
Off-site data  
centres  
Total energy  
Grid  
electricity  
15,949 16,621 18,059 16,421  
13,861 14,682 13,742 13,644 12,623 55,469 67,507 67,488 66,545 63,563 15,949 16,621 18,059 16,421 85,279 98,809 99,249 96,610  
Total energy/employee  
(MWh/employee)
1.9  
2.2  
2.3  
2.4  
2020/2019 change in  
energy consumption per  
employee  
-14.9%  
Scope 1: combustion of fossil fuels (petroleum, fuel oil and gas), use of biodiesel and emissions of coolants from air conditioning systems.  
Scope 2: consumption of grid electricity and district heating in offices and on-site data centres.  
Scope 3: consumption of grid electricity in off-site data centres.  
In 2020, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) as well as new acquisitions Sodifrance, Anteo (Consulting  
and E-Business Solutions), Holocare and cxpartners. Joint venture sites are included from 2017.  
In 2019, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS and SSCL joint venture sites) but does not include SAB or Sopra Financial  
Technology GmbH. Joint ventures sites are only included from 2017.  
WASTE ELECTRICAL AND ELECTRONIC EQUIPMENT (WEEE)
Of which  
incinerated  
Of which sent to  
landfill sites  
Quantity (kg)  
Of which reused  
Of which recycled  
Year  
2020 2019 2018 2017  
2015 2020 2019 2018 2017 2015 2020 2019 2018 2017 2015 2020 2019 2018 2017 2020 2019 2018 2017  
2,605 32.3% 25.9% 11.8% 19.1% 98% 64.6% 70.7% 84.3% 79.8% 2.9% 3.3% 3.7% 1.1% 0.2% 0.2% 0.2% 0%  
4% 1.4% 1.6%  
0% 11.0% 17.9% 0.11% 35% 0%  
Germany/Austria  
Benelux  
Spain  
3,825 4,325 7,562 6,226  
5,682 6,471 4,735 4,741  
3,060 6,250 7,315 5,953  
24% 34% 79.6% 74.7%  
454 55.1% 69.8% 55.7% 22.4%  
69.7% 61% 17.6% 18.6%  
27% 30.1% 9.3% 66.5%  
6.3%  
0%  
1% 1.4% 5.1%  
0%  
0%  
France  
30,354 19,724 15,412 26,863 20,939 71% 44.3% 68.8% 66.1% 43% 28.3% 50.6% 27.5% 27.6% 56% 0.6% 2.8% 2.1% 4.8% 0.1% 2.3% 1.7% 1.6%  
India  
Italy  
27 17,328 36,558 21,732 107,181  
0%  
0%  
0%  
0% 75% 80% 99.3% 99.7% 100% 25% 20% 0.7% 0.3%  
0% 80% 0% 23.6% 19.7% 0% 0% 1.9% 2.1%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
**  
268 1,126  
**  
627  
0% 72.7% 76.4%  
0% 1.8% 1.7%  
Norway +  
Denmark  
Poland  
477 1,172  
** 658  
985 1,048  
1,459 27.2%  
53 0% 12% 12% 100% 100%  
0% 25.2% 69.1%  
72.8% 92% 69.5% 30.9%  
0% 86.8% 86.7% 0%  
0%  
0% 1.2% 1.3%  
2.8% 4% 4.6%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0% 0.3%  
0% 0%  
8% 5.3%  
0%  
0%  
423  
673  
0%  
0%  
0%  
0% 0.4%  
United Kingdom 16,013 19,426 19,990 15,066 25,674 15.7% 27.3% 13% 39.2% 100% 81.6% 68.8% 82.4% 60.4%  
Sweden  
Switzerland  
4,742 7,021  
476 303  
750  
286  
16  
291  
566  
688  
0% 67.8% 68% 100%  
0% 0% 0% 99.6%  
100% 31.9% 32%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0% 100% 100% 100% 0.4%  
TOTAL
64,65782,94795,24282,609160,246* 44% 32.3% 24.9% 38%
53% 64.7% 70.2% 58.2%
2%
2% 1.8% 2.7%
1% 1.1% 3.1% 0.7%
Total/employee  
(kg/employee)  
1.5  
1.9  
2.2  
2.1  
4.6  
In 2020, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) as well as new acquisitions Sodifrance, Anteo (Consulting  
and E-Business Solutions), Holocare and cxpartners. Joint venture sites are included from 2017.  
In 2019, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS and SSCL joint venture sites) but does not include SAB or Sopra Financial Technology  
GmbH.* Total based on data available.  
** WEEE stored on site.  
PAPER AND CARDBOARD WASTE BY COUNTRY
Quantity (Kg)  
Of which recycled  
Of which incinerated  
2018 2017 2016 2015  
Year  
2020  
2019  
2018  
2017  
2016  
2015  
2020  
2019  
2018  
2017  
2016  
2015 2020  
2019  
Germany/Austria  
Benelux  
Denmark  
Spain  
France  
India  
Italy  
Norway  
Poland  
United Kingdom  
Sweden  
19,978  
24,316  
594  
1,167  
53,782 109,168  
3,893  
285  
18,555  
297  
21,868  
46,962  
909  
67,076  
78,079  
814  
11,192  
94,192  
13,415  
2,668  
47,530  
58,745  
1,580  
11,440  
71,804  
14,025  
2,730  
43,565  
80,569  
1,580  
9,938  
60,342  
28,410  
45,214  
100%  
100%  
100%  
100%  
100%  
100%  
100%  
100%  
97%  
100%  
100%  
100%  
100%  
84.8%  
100%  
100%  
100%  
97%  
100%  
100%  
100%  
100%  
84.9%  
100%  
100%  
100%  
97%  
100%  
100%  
100%  
100%  
87%  
100%  
97%  
100%  
97%  
98%  
75%  
100%  
100%  
83.9%  
100%  
98%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
0%  
3%  
0%  
0%  
0%  
0%  
15.2%  
0%  
0%  
0%  
3%  
0%  
0%  
0%  
0%  
0%  
15.1%  
0%  
0%  
0%  
3%  
0%  
0%  
0%  
0%  
0%  
13%  
0%  
3%  
0%  
3%  
0%  
3%  
0%  
2%  
25%  
0%  
0%  
16.1%  
0%  
2%  
827  
100%  
11,625  
96,269  
27,217  
89%  
100%  
13%  
0%  
12,506  
2,800  
25,446  
2,731  
21,058  
2,440  
19,168  
2,553  
5,782  
131,839  
3,700  
7,670  
100%  
100%  
100%  
0%  
0%  
63,730 173,509 159,746 200,382  
6,873  
949  
146,900  
802  
3,549  
100%  
91.1%  
100%  
100%  
100%  
100%  
100%  
100%  
100%  
100%  
97%  
100%  
100%  
100%  
99%  
0%  
8.9%  
0%  
7,000  
599  
5,064  
530  
4,679  
560  
0%  
0%  
0%  
0%  
Switzerland  
100%  
0%  
TOTAL
194,418 415,122 456,274 435,196 365,725* 328,448* 99.7%
96%
97%
97%
92%
0.3%
4%
3%
3%
8%
TOTAL/EMPLOYEE
(KG/EMPLOYEE)
4,4
9,4
10,5
10,8
10,0
9,4
In 2020, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) as well as new acquisitions Sodifrance, Anteo (Consulting  
and E-Business Solutions), Holocare and cxpartners. Joint venture sites are included from 2017.  
In 2019, the scope for the calculation of indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS and SSCL joint venture sites) but does not include SAB or Sopra Financial Technology  
GmbH.  
* Total based on data available.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
151
4
CORPORATE RESPONSIBILITY  
Annex: Social and environmental indicators  
PURCHASES OF CERTIFIED PAPER FROM SUSTAINABLE SOURCES BY COUNTRY
Paper purchased per employee  
Percentage of paper from  
sustainable sources  
Total paper purchased (kg)
(kg/employee)
Year  
2020  
2019  
2018  
2017  
2020  
2019  
2018  
2017  
2020  
2019  
2018  
2017  
Germany/Austria  
Benelux  
Spain  
France  
India  
Italy  
Poland  
United Kingdom  
Scandinavia*  
Singapore  
Switzerland  
2,107  
3,094  
680  
23,454  
1,501  
925  
46  
6,270  
849  
3,216  
4,067  
7,861  
55,268  
8,296  
2,790  
575  
11,173  
2,304  
699  
3,771  
3,505  
5,875  
57,077  
8,429  
3,119  
903  
13,835  
2,163  
694  
4,946  
2,941  
8,208  
66,747  
7,897  
3,443  
646  
13,942  
1,685  
881  
85%  
100%  
70%  
69%  
72%  
70%  
63%  
57%  
70%  
70%  
89%  
100%  
70%  
48%  
71%  
70%  
100%  
79%  
65%  
70%  
76%  
93%  
95%  
70%  
26%  
71%  
100%  
92%  
85%  
68%  
70%  
88%  
81%  
100%  
70%  
0.66  
3.15  
0.17  
1.19  
0.30  
0.95  
0.05  
0.94  
0.34  
1.62  
0
1.09  
4.14  
1.88  
2.89  
1.45  
2.76  
0.58  
3.11  
1.01  
5.42  
2.5  
1.40  
3.44  
1.45  
3.05  
1.62  
3.22  
1.02  
3.81  
1.05  
5.14  
4.53  
2.11  
2.81  
2.30  
3.69  
1.55  
4.05  
0.81  
3.61  
1.23  
7.53  
4.19  
70%  
100%  
100%  
100%  
84%  
68%  
70%  
204  
0
624  
1,127  
1,073  
89%  
TOTAL
39,132
96,873
100,498
112,409
71%
60%
50%
76%
0.88
2.35
2.54
3.01
* Scandinavia includes Sweden, Norway and Denmark.  
In 2020, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) as well as new acquisitions Sodifrance, Anteo (Consulting  
and E-Business Solutions), Holocare and cxpartners. Joint venture sites are included from 2020.  
In 2019, the scope used to calculate indicators includes all entities over which the Group has operational control and does not include SAB, Sopra Financial Technology GmbH or the NHS SBS and SSCL joint venture sites for previous years.  
WATER USE BY COUNTRY  
Quantity (cu. metres)
Year  
2020  
2019  
2018  
2017  
Africa*  
6,307  
12,204  
3,673  
163  
5,292  
5,200  
2,828  
650  
4,795  
5,495  
4,933  
341  
2,829  
6,054  
2,717  
N/A  
Germany/Austria  
Benelux**  
Brazil  
Bulgaria  
112  
30  
N/A  
N/A  
China  
90  
131  
N/A  
N/A  
Spain  
6,732  
156  
14,382  
499  
14,239  
N/A  
8,349  
N/A  
United States  
France***  
India  
Italy  
Poland  
United Kingdom  
Scandinavia****  
Singapore  
Switzerland  
62,235  
27,435  
2,578  
1,224  
31,603  
8,908  
451  
74,874  
63,433  
4,205  
4,254  
57,841  
12,433  
705  
86,855  
63,903  
3,666  
3,465  
32,905  
7,776  
511  
55,760  
136,948  
2,585  
3,106  
21,272  
4,246  
356  
380  
228  
285  
258  
TOTAL
164,250
246,985
227,938
244,480
Total (cu. metres/employee)
3.6  
5.5  
5.2  
6.0  
* Africa includes Lebanon, Senegal, Cameroon, Côte d’Ivoire, Gabon, Morocco and Tunisia.  
** Benelux includes Belgium, Luxembourg and the Netherlands.  
*** France includes French Polynesia and Monaco.  
**** Scandinavia includes Sweden, Norway and Denmark.  
In 2020, the scope used to calculate indicators includes all entities over which the Group has operational control (and therefore includes the NHS SBS, SSCL and SFT joint venture sites) as well as new  
acquisitions Sodifrance, Anteo (Consulting and E-Business Solutions), Holocare and cxpartners. Joint venture sites are included from 2017.  
In 2019, the scope used to calculate indicators includes all entities over which the Group has operational control and does not include SAB or Sopra Financial Technology GmbH. Joint ventures sites are  
only included from 2017.  
152  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
4
CORPORATE RESPONSIBILITY  
Report by the independent third party on the consolidated statement of non-financial performance presented in the management report  
8.
Report by the independent third party  
on the consolidated statement of non-financial  
performance presented in the management report  
To the Shareholders,  
NATURE AND SCOPE OF WORK
In  our  capacity  as  an  independent  third  party,  member  of  the  
Mazars  network  and  a  Statutory  Auditor  of  Sopra  Steria  Group,  
certified  by  COFRAC  Inspection  under  number  3-1058  (scope  of  
certification  available  on  www.cofrac.fr),  we  hereby  report  to  you  
on the consolidated statement of non-financial performance for the  
year  ended  31  December  2019  (hereinafter  referred  to  as  the  
“Statement”), presented in the management report, pursuant to the  
legal and regulatory provisions of Articles L. 102-1, R. 225-105 and  
R. 225-105-1 of the French Commercial Code (Code de commerce).  
Our work described below was carried out in accordance with the  
provisions  of  Articles A. 225-1  et  seq.  of  the  French  Commercial  
Code establishing the manner in which an independent third party  
should  fulfil  its  engagement,  with  industry  policy  issued  by  the  
CNCC for this type of engagement and with International Standard  
on Assurance Engagements (ISAE) 3000, Assurance Engagements  
Other than Audits or Reviews of Historical Financial Information”.  
we  familiarised  ourselves  with  the  business  of  all  companies  in  
p
the consolidated group, and the overview of key risks;  
we  assessed  the  suitability  of  the  Guidelines  in  terms  of  their  
p
RESPONSIBILITY OF THE COMPANY
relevance,  
completeness,  
reliability,  
impartiality  
and  
The  Board  of  Directors  is  responsible  for  drawing  up  a  Statement  
complying  with  legal  and  regulatory  provisions,  including  an  
overview  of  the  business  model,  a  description  of  the  main  
non-financial risks, an overview of policies adopted in light of those  
risks  and  the  results  of  those  policies,  including  key  performance  
indicators.  
comprehensibility,  taking  industry  best  practice  into  account  
where applicable;  
we checked that the Statement covers each category of disclosure  
stipulated  in  the  third  paragraph  of  Article L. 225-102-1  in  
relation to labour-related and environmental information, as well  
as  the  information  stipulated  in  the  second  paragraph  of  
Article L. 22-10-36  in  relation  to  respect  for  human  rights,  
anti-corruption measures and the prevention of tax evasion;  
p
p
p
p
The  Statement  has  been  prepared  in  accordance  with  the  
Company’s procedures (hereinafter “the Guidelines”), the significant  
elements of which are presented in the Statement or available on  
the website or on request from the Company’s registered office.  
we  checked  that  the  Statement  presents  the  information  laid  
down  in  paragraph II  of  Article R.225-105  where  that  
information is relevant to the key risks, and that it includes, as the  
case  may  be,  a  reasoned  explanation  for  the  absence  of  any  
information  required  by  the  second  subparagraph  of  
paragraph III of Article L. 225-102-1;  
Independence and quality control  
Our  independence  is  enshrined  in  the  provisions  of  
Article L. 822-11-3 of the French Commercial Code and the Code  
of  Ethics  governing  the  audit  profession  in  France.  We  have  also  
implemented  a  quality  control  system  comprising  documented  
policies  and  procedures  for  ensuring  compliance  with  ethical  and  
professional  standards,  and  the  applicable  legal  and  regulatory  
requirements.  
we  checked  that  the  Statement  includes  an  overview  of  the  
business model and key risks associated with the business of all  
entities in the consolidated group, including, where relevant and  
proportionate,  risks  arising  from  its  business  relationships,  
products  and  services,  as  well  as  policies,  actions  and  results,  
including key performance indicators;  
RESPONSIBILITY OF THE INDEPENDENT THIRD PARTY
we consulted source documents and carried out interviews to:  
On  the  basis  of  our  work,  it  is  our  responsibility  to  formulate  a  
reasoned opinion expressing limited assurance as to:  
assess  the  process  used  to  identify  and  confirm  key  risks  and  
the  extent  to  which  results,  including  key  performance  
indicators selected, are consistent with the key risks and policies  
presented,  
the  Statement’s  compliance  with  the  provisions  laid  down  in  
Article R. 225-105 of the French Commercial Code;  
p
the  fair  presentation  of  the  information  provided  pursuant  to  
Point  3  of  Paragraphs I  and II  of  Article R. 225-105  of  the  
French Commercial Code, namely the results of policies, including  
key performance indicators, and actions relating to the key risks  
(hereinafter “the Information”).  
p
corroborate the qualitative information (actions and results) we  
considered most important (see Annex). For risks relating to the  
development  of  skills  and  managerial  practices  as  well  as  
attracting and retaining employees, our work was carried out  
at  the  level  of  the  consolidating  entity  and  at  a  selection  of  
entities (see Annex);  
It is also our responsibility, at the entity’s request and outside the  
scope  of  accreditation,  to  express  a  reasonable  assurance  opinion  
about  whether  the  information  selected  by  the  entity  (see  Annex)  
has been prepared, in all material respects, in accordance with the  
Guidelines.  
we  checked  that  the  Statement  covers  the  consolidated  group,  
i.e.  all  entities  falling  within  the  scope  of  consolidation  in  
accordance with Article L. 233-16, within the limits specified in  
the Statement;  
p
p
p
However, it is not our responsibility to issue an opinion on whether  
the  Company  complies  with  other  applicable  legal  and  regulatory  
provisions,  notably  as  regards  the  vigilance  plan,  anti-corruption  
measures  and  the  prevention  of  tax  evasion,  nor  on  whether  its  
products and services comply with applicable regulations.  
we  familiarised  ourselves  with  the  internal  control  and  risk  
management procedures put in place by the entity and assessed  
the collection process to ensure that the Information is complete  
and accurate;  
for the key performance indicators and other quantitative results  
(see Annex) we considered most important, we:  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
153
4
CORPORATE RESPONSIBILITY  
Report by the independent third party on the consolidated statement of non-financial performance presented in the management report  
used analytical procedures to check that the data collected had  
been properly consolidated, and that any changes in the data  
were consistent,  
of  non-financial  performance  is  not  consistent  with  applicable  
regulatory provisions and that the Information, taken as a whole, is  
not presented fairly in accordance with the Guidelines.  
carried  out  detailed,  sample-based  testing  to  check  that  
definitions  and  procedures  had  been  properly  applied  and  to  
reconcile  data  with  supporting  documents.  This  work  was  
undertaken on a selection of contributing entities and countries  
(see  Annex)  and  covered  between  55%  and  91%  of  the  
consolidated data used in the key performance indicators and  
results selected for these tests;  
REASONABLE ASSURANCE REPORT ON SELECTED
CSR INFORMATION
Regarding the information selected by the Company and identified  
by the symbol , we performed, at the request of the Company and  
in line with its proactive approach, the same types of procedure as  
those described in the Nature and scope of work section above  
for the key performance indicators and the other quantitative results  
that  we  considered  to  be  the  most  important,  but  in  a  more  
in-depth manner, in particular with respect to the number of tests  
conducted.  
we  assessed  the  Statement’s  overall  consistency  based  on  our  
understanding of the Company.  
p
We believe that the work we have undertaken, to the best of our  
professional  judgement,  provides  a  sufficient  basis  for  our  limited  
assurance  conclusion.  A  higher  level  of  assurance  would  have  
required more extensive verification procedures.  
The  selected  sample  thus  represents  an  average  of  58%  of  the  
workforce  and  between  53%  and  91%  of  environmental  data  
identified by the symbol .  
MEANS AND RESOURCES
We believe that these procedures enable us to express a reasonable  
assurance  conclusion  with  respect  to  the  information  selected  by  
the Company and identified by the symbol .  
Our  work  was  carried  out  by  a  team  of  six  people  between  
October 2020 and February 2021 and required a total of 10 weeks.  
We  conducted  around  ten  interviews  with  individuals  responsible  
for preparing the Statement, notably representing Human Resources  
and  Corporate  Responsibility  and  Sustainable  Development  
departments.  
CONCLUSION
In  our  opinion,  the  information  selected  by  the  Company  and  
identified  by  the  symbol    has  been  prepared,  in  all  material  
respects, in accordance with the Guidelines.  
CONCLUSION
Based  on  the  work  performed,  we  did  not  identify  any  material  
misstatement that would cause us to conclude that the statement  
Paris La Défense, 3 March 2021  
Independent third party  
Mazars SAS  
Bruno POUGET  
Partner  
Edwige REY  
CSR Sustainable Development Partner  
154  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
4
CORPORATE RESPONSIBILITY  
Report by the independent third party on the consolidated statement of non-financial performance presented in the management report  
ANNEX  
Key performance indicators and other quantitative results considered most important, and selection of contributing entities and countries  
subjected to detailed testing.  
Information reviewed on a reasonable assurance basis  
Information  
Entity/Country  
Workforce by age bracket and type of employment contract
France(Sopra Steria Group SA, Sopra HR Software, Sopra  
p
p
p
p
p
Workforce (FTE)
Banking Software, Beamap, Sopra Steria I2S, CIMPA SAS,  
2MoRO Solutions, Galitt, SAB, Sodifrance)  
New hires (o/w% women)
Turnover rate for staff on permanent contracts  
India(Sopra Steria India, SBS Solutions India Private Limited)  
p
p
Norway(Sopra Steria AS)  
Number of hours and days of training
Average number of training days per employee
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, Galitt,  
SAB)  
India(Sopra Steria India, SBS Solutions India Private Limited)  
p
p
Norway(Sopra Steria AS)  
Percentage of employees with a disability
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, Galitt,  
SAB)  
Energy consumption per employee
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
p
p
p
Energy consumption (offices and on-site data centres)
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
United Kingdom(Sopra Banking Software Ltd, Sopra HR  
Energy consumption of data centres (on-site and off-site)
Proportion of electricity consumption for offices and on-site  
data centres provided by renewable energies
Greenhouse gas emissions from energy consumption  
(offices and on-site data centres)
Greenhouse gas emissions from energy consumption  
of data centres (on-site and off-site)
Greenhouse gas emissions – Scopes 1, 2 3 per employee  
p
Software Limited, Sopra Steria Limited, NHS Shared Business  
Services Ltd, Shared Services Connected Ltd, CIMPA Ltd, Apak  
Group Limited, cxpartners)  
p
p
Germany(Sopra HR Software GmbH, Sopra Banking  
p
Software GmbH, Sopra Steria SE, ISS Software GmbH, Sopra  
Steria Services GmbH, CIMPA GmbH, it-economics GmbH,  
Sopra Financial Technology GmbH)/ Austria(Sopra  
Steria GmbH)/ Bulgaria(it-economics Bulgaria EOOD)  
p
Greenhouse gas emissions – Business travel
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
Poland(Sopra Steria Polska Sp. z o.o.)  
p
p
Germany(Sopra HR Software GmbH, Sopra Banking  
Software GmbH, Sopra Steria SE, ISS Software GmbH, Sopra  
Steria Services GmbH, CIMPA GmbH, it-economics GmbH,  
Sopra Financial Technology GmbH)/ Austria(Sopra  
Steria GmbH)/ Bulgaria(it-economics Bulgaria EOOD)  
Quantity of WEEE generated per employee
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
p
Proportion of waste electrical and electronic  
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
equipment given a second life
India(Sopra Steria India, SBS Solutions India Private Limited)  
p
p
Germany(Sopra HR Software GmbH, Sopra Banking  
Software GmbH, Sopra Steria SE, ISS Software GmbH, Sopra  
Steria Services GmbH, CIMPA GmbH, it-economics GmbH,  
Sopra Financial Technology GmbH)/ Austria(Sopra  
Steria GmbH)  
Water consumption (offices and on-site data centres)  
Water consumption per employee  
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
United Kingdom(Sopra Banking Software Ltd, Sopra HR  
p
Software Limited, Sopra Steria Limited, NHS Shared Business  
Services Ltd, Shared Services Connected Ltd, CIMPA Ltd, Apak  
Group Limited, cxpartners)  
Spain(Sopra Steria España S.A.U., Sopra Steria Euskadi S.L.,  
p
Sopra HR Software S.L., CIMPA PLM España S.L., Sopra Financial  
Solutions Iberia S.L.)  
Quantity of ”green” paper purchased per employee
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
Italy(Sopra Steria Group S.p.A., Sopra HR Software S.r.l)  
p
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
155
4
CORPORATE RESPONSIBILITY  
Report by the independent third party on the consolidated statement of non-financial performance presented in the management report  
Information  
Entity/Country  
Quantity of paper and cardboard waste per employee
Percentage of paper and cardboard waste recycled
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
United Kingdom(Sopra Banking Software Ltd, Sopra HR  
p
Software Limited, Sopra Steria Limited, NHS Shared Business  
Services Ltd, Shared Services Connected Ltd, CIMPA Ltd, Apak  
Group Limited, cxpartners)  
Spain(Sopra Steria España S.A.U., Sopra Steria Euskadi S.L.,  
p
Sopra HR Software S.L., CIMPA PLM España S.L., Sopra Financial  
Solutions Iberia S.L.)  
Direct fugitive greenhouse gas emissions  
(offices and on-site data centres)
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
India (Sopra Steria India, SBS Solutions India Private Limited)  
p
Greenhouse gas emissions arising from purchasing expenditure  
(calculated per million euros)  
France(Sopra Steria Group, Sopra HR, Sopra Banking Software,  
p
p
Beamap, Sopra Steria I2S, CIMPA SAS, 2MoRO Solutions, OR  
System, Galitt, Neosphere, SAB, Sodifrance)  
Spain(Sopra Steria España S.A.U., Sopra HR Software S.L.,  
p
Sopra Banking Software, CIMPA PLM España S.L.)  
Germany(Sopra Steria SE, Sopra HR Software GmbH, Sopra  
p
Banking Software GmbH, CIMPA GmbH, Sopra Financial  
technology GmbH, it-economics GmbH, Cassiopae, Blue Carat)  
Italy(Sopra Steria Group S.p.A., Sopra HR Software S.r.l.)  
p
156  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5. 2020 Consolidated Financial  
Statements  
Consolidated statement of net income
158
159
160
161
Consolidated statement of comprehensive income
Consolidated statement of financial position
Consolidated statement of changes in equity
Consolidated cash flow statement
162
163
224
Notes to the consolidated financial statements
Statutory Auditors’ report on the consolidated financial statements
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
157
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Consolidated statement of net income  
Consolidated statement of net income  
Financial year  
2020  
Financial year  
2019  
Notes  
(in millions of euros)
Revenue  
4.1  
5.1  
4.2.1  
4,262.9  
-2,677.7  
-1,062.0  
-38.8  
4,434.0  
-2,668.5  
-1,234.5  
-32.5  
Staff costs  
External expenses and purchases  
Taxes and duties  
Depreciation, amortisation, provisions and impairment  
Other current operating income and expenses  
-189.0  
4.8  
-157.9  
13.7  
4.2.2  
Operating profit on business activity  
300.2  
7.0%  
-4.2  
354.3  
8.0%  
-11.1  
-28.9  
as % of revenue  
Expenses related to stock options and related items  
Amortisation of allocated intangible assets  
5.4  
8.2  
-34.8  
Profit from recurring operations  
261.2  
6.1%  
-58.9  
314.2  
7.1%  
-31.0  
as % of revenue  
Other operating income and expenses  
4.2.3  
Operating profit  
202.3  
4.7%  
-9.9  
-15.4  
-60.4  
2.3  
283.2  
6.4%  
-9.9  
-14.7  
-87.3  
1.8  
as % of revenue  
Cost of net financial debt  
Other financial income and expenses  
Tax expense  
12.1.1  
12.1.2  
6.1  
Net profit from associates  
10.1  
Net profit from continuing operations  
Net profit from discontinued operations  
Consolidated net profit  
118.9  
173.1  
-
-
118.9  
2.8%  
12.2  
173.1  
3.9%  
12.7  
as % of revenue  
Non-controlling interests  
14.1.5  
Notes  
NET PROFIT ATTRIBUTABLE TO THE GROUP
as % of revenue  
106.8
160.3
2.5%  
3.6%  
EARNINGS PER SHARE (IN EUROS)
Basic earnings per share  
Diluted earnings per share  
14.2  
14.2  
5.27  
5.25  
7.92  
7.88  
158  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Consolidated statement of comprehensive income  
Consolidated statement of comprehensive income  
Financial year  
2020  
Financial year  
2019  
Notes  
(in millions of euros)
Consolidated net profit  
Other comprehensive income:  
118.9  
173.1  
Actuarial gains and losses on pension plans  
Tax impact  
Related to associates  
5.3  
-58.3  
18.0  
-0.1  
-14.5  
3.9  
-0.2  
-0.1  
10.2  
Change in fair value of financial assets (non-consolidated securities)  
-0.6  
Subtotal of items recognised in equity and not reclassifiable  
to profit or loss  
-41.1  
-57.9  
14.8  
-4.9  
-3.8  
0.9  
-11.0  
38.2  
-14.9  
5.1  
-2.7  
1.1  
Translation differences  
14.1.4  
Change in net investment hedges  
Tax impact on net investment hedges  
Change in cash flow hedges  
Tax impact on cash flow hedges  
Related to associates  
-6.6  
0.9  
Subtotal of items recognised in equity and reclassifiable  
to profit or loss  
-57.6  
-98.7  
27.7  
16.7  
Other comprehensive income, total net of tax  
COMPREHENSIVE INCOME
20.3
189.8
Non-controlling interests  
Attributable to the Group  
14.1.5  
6.6  
13.7  
13.7  
176.1  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
159
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Consolidated statement of financial position  
Consolidated statement of financial position  
Assets (in millions of euros)
Notes  
31/12/2020  
31/12/2019  
Goodwill  
Intangible assets  
8.1  
8.2  
8.3  
9.1  
10.2  
7.1  
5.3  
6.3  
1,843.2  
232.9  
132.5  
290.3  
193.4  
74.0  
1,813.9  
272.9  
143.4  
320.4  
195.0  
58.3  
Property, plant and equipment  
Right-of-use assets  
Equity-accountedinvestments  
Other non-current assets  
Retirement benefits and similar obligations  
Deferred tax assets  
3.1  
156.7  
2.0  
120.0  
Non-current assets  
2,926.1  
954.6  
410.6  
2,926.0  
1,074.3  
348.3  
Trade receivables and related accounts  
Other current assets  
7.2  
7.3  
Cash and cash equivalents  
12.2  
245.5  
197.5  
Current assets  
Assets held for sale  
TOTAL ASSETS
1,610.7  
1,620.1  
-
0.0  
4,536.7
4,546.2
Liabilities and equity (in millions of euros)
Notes  
31/12/2020  
31/12/2019  
Share capital  
Share premium  
Consolidated reserves and other reserves  
20.5  
531.5  
845.8  
20.5  
531.5  
820.7  
Equity attributable to the Group  
Non-controllinginterests  
TOTAL EQUITY
1,397.8  
47.6  
1,372.7  
49.5  
14.1
1,445.4
1,422.2
Financial debt – Non-current portion  
Lease liabilities – Non-current portion  
Deferred tax liabilities  
12.3  
9.2  
6.3  
564.5  
226.2  
43.3  
494.4  
257.2  
22.0  
Retirement benefits and similar obligations  
Non-current provisions  
Other non-current liabilities  
5.3  
11.1  
7.4  
393.4  
89.4  
104.1  
352.0  
62.3  
112.2  
Non-current liabilities  
1,421.1  
106.6  
91.3  
1,300.0  
217.1  
84.9  
Financial debt – Current portion  
Lease liabilities – Current portion  
Current provisions  
12.3  
9.2  
11.1  
26.6  
14.8  
Trade payables and related accounts  
Other current liabilities  
278.6  
1,167.1  
286.3  
1,220.9  
7.5  
Current liabilities  
Liabilities held for sale  
TOTAL LIABILITIES
1,670.2  
1,823.9  
-
0.0  
3,091.3
4,536.7
3,124.0
4,546.2
TOTAL LIABILITIES AND EQUITY
160  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Consolidated statement of changes in equity  
Consolidated statement of changes in equity  
Total  
Other attribu-  
Consolidated  
reserves compre-  
table  
to the controlling  
Group interests  
Non-  
Share  
capital premium  
Share Treasury and retained  
hensive  
income  
shares  
earnings  
Total  
(in millions of euros)
At 31/12/2018  
20.5  
531.5  
-42.8  
903.9  
-
Share capital transactions  
Share-based payments  
Transactions in treasury shares  
Ordinary dividends  
Changes in scope  
First-time application of IFRS 16  
Other movements  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8.9  
-
0.2  
-
9.1  
8.9  
-
-3.2  
-9.0  
-37.6  
-0.5  
-22.9  
-35.3  
-
-
-
-
-12.2  
-37.6  
-0.5  
-22.9  
-35.4  
-
-12.2  
-39.8  
20.3  
-23.3  
-50.8  
-
-
-
-
-2.3  
20.8  
-0.4  
-15.4  
-0.1  
Shareholder transactions  
-
-
-
-
-
-
-3.2  
-96.3  
160.3  
-
-0.1  
-
15.8  
-99.7  
160.3  
15.8  
2.9  
12.7  
0.9  
-96.8  
173.1  
16.7  
Net profit for the period  
Other comprehensive income  
-
-
Comprehensive income  
for the period  
-
-
-
160.3  
15.8  
176.1  
13.7  
189.8  
At 31/12/2019  
20.5  
531.5  
-46.1  
967.9  
-
4.1  
-7.4  
-
Share capital transactions  
Share-based payments  
Transactions in treasury shares  
Ordinary dividends  
Changes in scope  
Other movements  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4.1  
2.5  
-
-
0.2  
-
-
4.3  
2.5  
9.9  
-
-
-
-4.4  
3.6  
-8.0  
-4.4  
6.7  
-6.2  
3.1  
1.7  
-
3.1  
1.8  
0.0  
Shareholder transactions  
-
-
-
-
-
-
9.9  
-
-
1.6  
106.8  
-
0.0  
-
-93.1  
11.5  
106.8  
-93.1  
-8.6  
12.2  
-5.5  
2.9  
118.9  
-98.7  
Net profit for the period  
Other comprehensive income  
Comprehensive income for  
the period  
-
-
-
106.8  
-93.1  
13.7  
6.6  
20.3  
AT 31/12/2020
20.5
531.5
-36.2
1,076.3
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
161
-116.9
1,296.2
-101.2
1,372.7
-194.2
1,397.8
32.9
1,329.2
49.5
1,422.2
47.6
1,445.4
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Consolidated cash flow statement  
Consolidated cash flow statement  
Financial year  
2020  
Financial year  
2019  
Notes  
(in millions of euros)
Consolidated net profit (including non-controlling interests)  
118.9  
236.7  
5.6  
173.1  
199.8  
-2.2  
9.1  
-6.5  
Net increase in depreciation, amortisation and provisions  
Unrealised gains and losses related to changes in fair value  
Expenses and income related to stock options and related items  
Gains and losses on disposal  
5.4  
4.3  
0.5  
Share of net profit/(loss) of equity-accounted companies  
Cost of net financial debt (including cost related to lease liabilities)  
Tax expense  
10.1  
12.1.1  
6
-2.3  
17.5  
60.4  
-1.8  
19.8  
87.3  
Cash from operations before change in working capital requirement  
(A)  
441.6  
-82.9  
43.0  
478.6  
-81.0  
25.3  
Tax paid (B)  
Change in operating working capital requirement (W.C.R.) (C)  
13.1  
13.1  
Net cash from operating activities (D) = (A+B+C)  
401.7  
-53.6  
0.4  
-2.6  
0.0  
-76.1  
0.0  
0.6  
422.9  
-49.8  
0.1  
-5.1  
3.6  
-62.8  
2.9  
-1.2  
0.1  
Purchase of property, plant and equipment and intangible assets  
Proceeds from sale of property, plant and equipment and intangible assets  
Purchase of non-current financial assets  
Proceeds from sale of non-current financial assets  
Cash impact of changes in scope  
Dividends received (equity-accounted companies, non-consolidated securities)  
Proceeds from/(Payments on) loans and advances granted  
Net interest received  
-0.0  
Net cash from/(used in) investing activities (E)  
-131.4  
-0.0  
-10.9  
-0.0  
-112.2  
-0.0  
-2.8  
-37.6  
-2.3  
-72.3  
-109.8  
-11.3  
-24.1  
-15.2  
Proceeds from shareholders for capital increases  
Purchase and sale of treasury shares  
Dividends paid to shareholders of the parent company  
Dividends paid to the minority interests of consolidated companies  
Proceeds from/(Payments on) borrowings  
14.1.3  
13.1  
-4.3  
-53.7  
-109.4  
-9.4  
-25.5  
0.1  
Lease payments  
Net interest paid (excluding interest on lease liabilities)  
Additional contributions related to defined-benefit pension plans  
Other cash flows relating to financing activities  
5.3.1  
Net cash from/(used in) financing activities (F)  
-213.1  
-4.8  
-275.2  
-2.6  
Impact of changes in foreign exchange rates (G)  
NET CHANGE IN CASH AND CASH EQUIVALENTS (D+E+F+G)
52.3
32.8
Opening cash position  
Closing cash position  
192.6  
245.0  
159.8  
192.6  
13  
162  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Notes to the consolidated financial statements  
The Group’s consolidated financial statements for the year ended 31 December 2020 were approved by the Board of Directors at its  
meeting held on 25 February 2021.  
Note 1 Accounting policies
164
164  
164  
Note 9 leases
195
195  
196  
1.1.  
1.2.  
1.3.  
9.1.  
9.2.  
Basis of preparation  
Right-of-use assets by category of leased assets  
Breakdown of lease liabilities by maturity  
Application of new standards and interpretations  
Impact of the Covid-19 crisis on the consolidated  
financial statements for the period  
164  
165  
Note 10 Equity-accounted investments
196
196  
197  
1.4.  
1.5.  
Material estimates and accounting judgments  
10.1.  
10.2.  
Net profit from associates  
Format of the financial statements and foreign  
currency translation  
Carrying amount of investments in associates  
165  
Note 11 Provisions and contingent liabilities
198
198  
199  
Note 2 Scope of consolidation
166
167  
168  
11.1.  
11.2.  
Current and non-current provisions  
Contingent liabilities  
2.1.  
2.2.  
Main acquisitions  
Other changes in scope  
Note 12 Financing and financial risk management
200
200  
201  
Note 3 Segment information
169
169  
170  
170  
12.1.  
12.2.  
12.3.  
12.4.  
12.5.  
Financial income and expenses  
Cash and cash equivalents  
3.1.  
3.2.  
3.3.  
Results by reporting unit  
Revenue by geographic area  
Non-current assets by geographic area  
Financial debt – Net financial debt  
Derivatives reported in the balance sheet  
Financial risk management  
201  
203  
205  
Note 4 Operating profit
170
4.1.  
4.2.  
Breakdown of revenue by reporting unit  
170  
Note 13 Cash flows
213
213  
215  
Other operating income and expenses included  
in Operating profit  
13.1.  
13.2.  
13.3.  
Change in net financial debt  
173  
Reconciliation of WCR with the cash flow statement  
Other cash flows in the consolidated cash flow  
statement  
Note 5 Employee benefits and share-based payments
174
174  
175  
175  
182  
183  
216  
5.1.  
5.2.  
5.3.  
5.4.  
5.5.  
Staff costs  
Workforce  
Note 14 Equity and earnings per share
216
216  
217  
Retirement benefits and similar obligations  
Share-based payments  
14.1.  
14.2.  
Equity  
Earnings per share  
Senior management compensation (related parties)  
Note 15 Related-party transactions
218
Note 6 corporate income tax
184
184  
184  
185  
15.1.  
Transactions with equity-accounted associates  
and non-consolidated entities  
6.1.  
6.2.  
6.3.  
Tax expense  
218  
218  
Reconciliation of statutory and effective tax expense  
Deferred tax assets and liabilities  
15.2.  
Subsidiaries and equity interests  
Note 16 Off-balance sheet commitments
219
219  
219  
Note 7 Components of the working capital requirement
and other financial assets and liabilities
16.1.  
16.2.  
Commitments given related to current operations  
Commitments received  
186
186  
188  
189  
189  
190  
7.1.  
7.2.  
7.3.  
7.4.  
7.5.  
Other non-current financial assets  
Trade receivables and related accounts  
Other current assets  
Note 17 Subsequent events
219
220
223
Other non-current liabilities  
Other current liabilities  
Note 18 List of group companies
Note 19 Statutory auditors’ fees
Note 8 Property, plant and equipment and intangible
assets
190
190  
193  
194  
8.1.  
8.2.  
8.3.  
Goodwill  
Other intangible assets  
Property, plant and equipment  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
163
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 1
ACCOUNTING POLICIES  
The  main  accounting  policies  applied  in  the  preparation  of  the  
consolidated  financial  statements  are  presented  below.  They  have  
been applied consistently for all of the financial years presented.  
1.3. Impact of the Covid-19 crisis  
on the consolidated financial  
statements for the period  
The Covid-19 pandemic has caused major operational difficulties in  
terms  of  business  continuity,  organisational  adaptation,  personal  
health  and  safety  and  compliance  with  public  health  measures.  It  
has had an impact on the Group’s consolidated financial statements  
as  well  as  on  the  estimates  it  uses  to  measure  certain  assets,  
liabilities, income and expenses and on liquidity risk.  
1.1. Basis of preparation  
The  consolidated  financial  statements  for  the  year  ended  
31 December  2020  have  been  prepared  in  accordance  with  
International  Financial  Reporting  Standards  (IFRS)  as  published  by  
the IASB and adopted by the European Union. Information on these  
standards  is  provided  on  the  European  Commission  website:  
reporting-and-auditing/company-reporting/financial-  
In terms of the presentation of the financial statements, the Group’s  
performance  was  broadly  affected  across  all  the  lines  of  its  
income statement.  In  France,  neither  the  Autorité  des  Marchés  
Financiers  (AMF)  nor  the  Autorité  des  Normes  Comptables  (ANC)  
recommend  using  non-recurring  profit  or  loss  line  items  to  
systematically  recognise  the  consequences  of  Covid-19.  Instead,  
they recommend providing a targeted line-by-line explanation in the  
notes,  and  only  using  non-recurring  profit  or  loss  line  items  to  
recognise the income and expenses that are usually recorded there.  
reporting_en#ifrs-financial-statements.  
1.2. Application of new standards  
and interpretations  
As such, the Group recognised the entire impact of operations not  
running at full capacity due to the crisis within operating profit on  
business  activity.  This  impact  included  the  suspension  or  
discontinuation  of  contracts  with  customers,  partially  offset  by  a  
reduction in staff costs related to the implementation of furlough  
measures  and  by  the  reduction  in  certain  expense  items,  such  as  
travel  expenses.  In  parallel,  in  certain  countries  it  began  to  
implement business reorganisation and restructuring measures, the  
impact of which was recognised within Other operating income and  
expenses, part of Operating profit (see Note 4.2.3), in addition to  
the measures that had already been decided prior to the crisis.  
1.2.1.  
New mandatory standards and interpretations  
The  new  standards,  amendments  to  existing  standards  and  
interpretations  adopted  by  the  European  Union  are  required  for  
accounting  periods  beginning  on  or  after  1 January  2020  are  
mainly the following:  
Amendment to IFRS 3 Definition of a Business: This amendment  
p
had no impact on the period;  
Amendments  to  IFRS 9,  IAS 39  and  IFRS 7  Interest  Rate  
p
Benchmark  Reform:  At  this  stage,  the  Group  has  not  identified  
any material impact of this amendment;  
In addition, the consequences of the crisis led to the recognition of  
impairment  losses.  Certain  assets  (such  as  customer  relationships  
and operating licences) were written down because the economic  
benefits  expected  no  longer  support  the  carrying  amount.  The  
Covid-19  crisis  is  the  sole  reason  for  this  situation.  The  impact  of  
these  asset  impairment  charges  was  recognised  within  Other  
operating  income  and  expenses,  part  of  Operating  profit  (see  
Note 4.2.3),  in  addition  to  the  measures  that  had  already  been  
decided prior to the crisis.  
Amendments to IAS 1 Presentation of Financial Statements and  
p
to  IAS 8  Accounting  Policies,  Changes  in  Accounting  Estimates  
and  Errors.  These  changes  concern  how  the  term  “material”  is  
defined.  
Application  of  the  amendment  to  IFRS 16  Covid-19-Related  Rent  
Concessionsis mandatory for periods beginning on or after 1 June  
2020. It was adopted by the European Union on 12 October. This  
amendment introduces a practical expedient to account for a rent  
concession  obtained  as  a  result  of  the  Covid-19  pandemic  as  if  it  
were not a lease modification, and to recognise the impact directly  
in  profit  or  loss  for  the  period.  It  may  be  adopted  early,  and  its  
effect on the period is not material.  
Finally,  the  Group  incurred  additional  logistics  costs  to  allow  
employees  to  work  remotely  and  to  address  the  health-related  
issues   social  distancing  in  particular   at  all  its  offices.  These  
non-recurring,  unusual  additional  costs  were  treated  as  Other  
operating  income  and  expenses  within  Operating  profit  (see  
Note 4.2.3).  
1.2.2.  
Standards and interpretations published by the  
IASB but not applied early  
The crisis has also affected the estimates the Group uses to measure  
certain assets, liabilities, income and expenses. In particular, this is  
mainly relevant and decisive for the assumptions and estimates used  
to  measure  the  recoverable  amount  of  intangible  assets,  primarily  
goodwill, as described in Note 8.1.3.  
No new standards or interpretations were published by the IASB.  
Finally, the assessment of the consequences of the crisis on liquidity  
risk is detailed in Note 12.5.1.  
164  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
indicator is used internally by management to assess performance. It  
corresponds to Profit from recurring operationsbefore:  
1.4. Material estimates  
and accounting judgments  
The preparation of financial statements entails the use of estimates  
and  assumptions  in  measuring  certain  consolidated  assets  and  
liabilities,  as  well  as  certain  income  statement  items.  Group  
management is also required to exercise judgment in the application  
of its accounting policies.  
the  expense  relating  to  the  costs  and  benefits  granted  to  the  
p
recipients  of  stock  option,  free  share  and  employee  share  
ownership plans;  
the amortisation of allocated intangible assets.  
p
Operating  profit  is  then  obtained  by  taking  Profit  from  recurring  
operations  and  subtracting  Other  operating  income  and  
expenses. The  latter  contains  any  material  items  of  operating  
income  and  expenses  that  are  unusual,  abnormal,  infrequent  or  
unpredictable, presented separately in order to give a clearer picture  
of performance based on ordinary activities.  
Such estimates and judgments, which are continually updated, are  
based  both  on  historical  information  and  on  a  reasonable  
anticipation  of  future  events  according  to  the  circumstances.  
However, given the uncertainty implicit in assumptions as to future  
events,  the  related  accounting  estimates  may  differ  from  the  
ultimate actual results.  
Finally,  in  the  analysis  of  Change  in  net  financial  debt,  the  Group  
splits  out  EBITDA.  This  figure  corresponds  to  Operating  profit  on  
business activity, after adding back in the depreciation, amortisation  
and provisions included in the latter indicator.  
The  main  assumptions  and  estimates  that  may  leave  scope  for  
material adjustments to the carrying amounts of assets and liabilities  
in the subsequent period are as follows:  
1.5.2.  
Foreign currency translation  
measurement of the recoverable amount of property, plant and  
p
a- Functional and presentation currencies  
equipment  and  intangible  assets,  and  of  goodwill  in  particular,  
which was particularly relevant in this period (see Note 8.1);  
Items included in the financial statements of each Group entity are  
measured using the currency of the primary economic environment  
in which that entity operates, i.e. its “functional currency”.  
measurement  of  the  recoverable  value  of  shares  held  in  
p
associated  companies  recorded  in  the  balance  sheet  (see  
Note 10.2);  
The  consolidated  financial  statements  are  presented  in  euros,  the  
functional  and  presentation  currency  of  the  Sopra Steria  Group  
parent company.  
measurement of retirement benefit obligations (see Note 5.3);  
p
revenue recognition (see Note 4.1);  
p
b- Translation of the financial statements of foreign  
subsidiaries  
lease terms and the valuation of assets and liabilities recognised  
p
for leased assets (see Note 9);  
The accounts of all Group entities whose functional currency differs  
from the Group’s presentation currency are translated into euros as  
follows:  
measurement of deferred tax assets (see Note 6.3);  
p
amounts payable to non-controlling interests (see Note 7.4);  
p
provisions for contingencies (see Note 11.1).  
p
assets  and  liabilities  are  translated  at  the  end-of-period  
p
exchange rate;  
Finally,  amid  the  current  coronavirus  crisis,  Group  management  
p
believes there is no uncertainty concerning its status as a going  
concern given the healthy level of its liquidity and the sustained  
level thereof throughout the year (see Note 12).  
income,  expenses  and  cash  flows  are  translated  at  the  average  
exchange rate for the period;  
p
all  resulting  foreign  exchange  differences  are  recognised  as  a  
p
distinct  equity  component  under  Other  comprehensive  income  
and  included  in  Accumulated  translation  reserves  within  equity  
(see Note 14.1.4).  
1.5. Format of the financial  
statements and foreign  
currency translation  
In  accordance  with  IAS 21  The  Effects  of  Changes  in  Foreign  
p
Exchange  Rates,  translation  gains  and  losses  arising  from  the  
translation  of  net  investments  in  foreign  operations  are  
recognised  as  a  distinct  component  of  equity.  Translation  gains  
and  losses  in  respect  of  intercompany  loans  are  considered  an  
integral  part  of  the  Group’s  net  investment  in  the  foreign  
subsidiaries in question.  
1.5.1.  
Format of the financial statements  
With  regard  to  the  presentation  of  its  consolidated  financial  
statements, Sopra Steria Group applies Recommendation 2013-03  
of the French Accounting Standards Authority (Autorité des Normes  
Comptables   ANC)  of  7 November  2013  on  the  format  of  the  
income  statement,  the  cash  flow  statement  and  the  statement  of  
changes in equity.  
When  a  foreign  operation  is  divested,  the  cumulative  translation  
difference  is  recycled  to  profit  or  loss  as  part  of  the  gain  or  loss  
arising on disposal.  
Goodwill  and  fair  value  adjustments  arising  on  the  acquisition  of  
foreign  operations  are  treated  as  assets  and  liabilities  of  the  
operation  and,  as  such,  are  translated  at  the  end-of-period  
exchange rate.  
The format of the income statement was adapted several years ago  
to  improve  the  presentation  of  the  Company’s  performance,  with  
the addition of a financial aggregate known as Operating profit on  
business  activity  before  Profit  from  recurring  operations. This  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
165
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The primary applicable exchange rates for the translation of the main foreign currencies used within the Group are as follows:  
Average rate for the period  
Financial year 2020 Financial year 2019  
Period-end rate  
31/12/2020  
€1/Currency  
31/12/2019  
Danish krone  
Norwegian krone  
Swedish krona  
Tunisian dinar  
Moroccan dirham  
US dollar  
7.4542  
10.7228  
10.4848  
3.2015  
10.8224  
1.1422  
7.4661  
9.8511  
10.5891  
3.2801  
10.7649  
1.1195  
7.4409  
10.4703  
10.0343  
3.2898  
10.8947  
1.2271  
7.4715  
9.8638  
10.4468  
3.1143  
10.7311  
1.1234  
Canadian dollar  
Singapore dollar  
CFA franc (BCEAO)  
CFA franc (BEAC)  
Swiss franc  
1.5300  
1.5742  
655.9570  
655.9570  
1.0705  
1.4855  
1.5273  
655.9570  
655.9570  
1.1124  
1.5633  
1.6218  
655.9570  
655.9570  
1.0802  
1.4598  
1.5111  
655.9570  
655.9570  
1.0854  
Bulgarian lev  
1.9558  
1.9558  
1.9558  
1.9558  
Lebanese pound  
Pound sterling  
Brazilian real  
1,729.8344  
0.8897  
1,690.7353  
0.8778  
1,875.0291  
0.8990  
1,697.0740  
0.8508  
5.8943  
4.4134  
6.3735  
4.5157  
Russian ruble  
Indian rupee  
Chinese yuan  
Polish zloty  
82.7248  
84.6392  
7.8747  
72.4553  
78.8361  
7.7355  
91.4671  
89.6605  
8.0225  
69.9563  
80.1870  
7.8205  
4.4430  
4.2976  
4.5597  
4.2568  
c- Translation of foreign currency transactions  
d- Hyperinflation in Lebanon  
Transactions denominated in foreign currencies are translated to the  
functional currency at the exchange rate applying on the transaction  
date.  Foreign  exchange  gains  and  losses  arising  on  settlement,  as  
well  as  those  arising  from  the  translation  of  monetary  assets  and  
liabilities  that  are  denominated  in  foreign  currencies  at  the  
end-of-period exchange rate, are recognised in profit or loss under  
Other  current  operating  income  and  expenses  for  transactions  
hedged  against  foreign  currency  risk  and  under  Other  financial  
income and expenses for all other transactions.  
During the financial year, the Lebanese economy was determined to  
be  a  hyperinflationary  economy.  IAS 29  Financial  Reporting  in  
Hyperinflationary Economies lays down the restatements that need  
to be carried out in such circumstances.  
The US dollar is the functional currency of the Group’s subsidiary in  
Lebanon.  As  a  result,  the  standard  does  not  require  any  
adjustments.  
NOTE 2
SCOPE OF CONSOLIDATION  
Consolidation methods  
Sopra Steria Group SA is the consolidating company.  
Investments  in  entities  over  which  the  Group  exerts  significant  
influence  (associates)  are  accounted  for  under  the  equity  
method.  Significant  influence  is  deemed  to  exist,  unless  clearly  
demonstrated  not  to  be  the  case,  when  a  parent  company  
directly or indirectly holds 20% or more of the voting rights of  
the investee.  
The  companies  over  which  Sopra Steria  Group  has  exclusive  
p
control are fully consolidated. An investor controls an investee  
where  that  investor  is  exposed,  or  has  rights,  to  variable  
returns  from  its  involvement  with  the  investee  and  has  the  
ability  to  affect  those  returns  through  its  power  over  the  
investee. Consequently, an investor controls an investee if and  
only if all the following criteria are met:  
Intercompany  transactions  as  well  as  balances  and  unrealised  
profits  on  transactions  between  Group  companies  are  
eliminated.  
it has power over the investee;  
p
The accounts of all consolidated companies are prepared as at  
31 December.  Where  applicable,  those  accounts  have  been  
restated  to  ensure  the  consistency  of  accounting  and  
measurement rules applied by the Group.  
it  is  exposed   or  has  rights   to  variable  returns  from  its  
involvement with the investee;  
p
it has the ability to exercise its power over the investee in such a  
way as to affect the amount of returns it obtains.  
The scope of consolidation is presented in Note 18.  
166  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
2.1. Main acquisitions  
Sodifrance– On 16 September 2020, Sopra Steria Group finalised the acquisition of a controlling interest representing 94.03% of the  
share  capital  of  Sodifrance,  followed  by  a  delisting  offer  to  bring  its  interest  to  100%.  Sodifrance  is  a  digital  services  company  with  
substantial expertise in the insurance and social security sector. The transaction will give Sopra Steria a leadership position in France in  
these areas.  
p
Sodifrance  and  its  subsidiaries  have  been  consolidated  in  
Sopra Steria’s  financial  statements  from  16 September  2020  
onwards.  
Based on the current stage of the inventory of assets acquired and  
liabilities assumed, the Group has identified, valued and recognised  
customer relationships for €18.0 million. This business is part of the  
“France” cash-generating unit.  
The provisional allocation of goodwill breaks down as follows:  
Sodifrance  
(in millions of euros)
Total assets acquired  
74.7  
Total liabilities assumed  
-72.2  
Total net assets acquired/(net liabilities assumed)  
Minority interests  
2.5  
-
Purchase price  
60.5  
GOODWILL
58.0
Fidor  Solutions   On  31 December  2020,  the  Group  acquired,  via  its  Sopra  Banking  Software  subsidiary,  full  ownership  of  Fidor  
Solutions’  share  capital.  Fidor  Solutions  has  developed  products  and  digital  services  that  meet  front-  and  middle-office  challenges  for  
digital banking. This acquisition will significantly accelerate the pace of development and marketing of Sopra Banking Software’s digital  
solutions.  
p
This  business  is  part  of  the  “Sopra  Banking  Software”  
cash-generating unit.  
acquisition  did  not  generate  any  goodwill.  This  allocation  as  of  
31 December 2020 is provisional.  
The  net  assets  of  Fidor  Solutions  (the  sum  of  assets  acquired  and  
liabilities  assumed)  corresponds  to  the  price  paid;  as  such,  the  
SAB   On  3 July  2019,  Sopra Steria,  via  its  subsidiary  Sopra  Banking  Software,  acquired  70%  of  the  share  capital  of  SAB,  a  group  
p
considered to be one of France’s leading core banking software developers.  
SAB  and  its  subsidiaries  have  been  consolidated  in  Sopra Steria’s  
Based  on  the  inventory  of  assets  acquired  and  liabilities  assumed,  
the Group identified, valued and recognised customer relationships  
for  €8.4 million  and  enterprise  software  for  €9.2 million.  This  
business  is  part  of  the  “Sopra  Banking  Software”  cash-generating  
unit.  
financial  statements  since  3 July  2019.  Under  the  terms  of  this  
acquisition,  Sopra  Banking  Software  granted  SAB’s  minority  
shareholders  a  put  option  for  their shares,  representing  the  30%  
stake  not  yet  owned  by  the  Group.  This  option  was  exercised  in  
July 2020 at a value of €37.6 million (see Note 7.5).  
The allocation of goodwill is now final and breaks down as follows:  
SAB  
(in millions of euros)
Total assets acquired  
56.9  
Total liabilities assumed  
-49.1  
Total net assets acquired/(net liabilities assumed)  
Minority interests  
7.8  
2.3  
Purchase price  
70.4  
GOODWILL
65.0
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
167
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Sopra Financial Technology GmbH– On 2 August 2019, Sopra Steria Group – the Group’s parent company – acquired 51% of the  
p
share capital of Sopra Financial Technology GmbH, the entity tasked by German banking network Sparda’s cooperative banks with the  
development, maintenance and operation of their shared information system.  
The identification of assets acquired and liabilities assumed has now  
been  completed,  leading  to  the  measurement  and  recognition  of  
€8.0 million in enterprise software.  
as a distinct reporting unit. Due to its operational characteristics, it  
constitutes  its  own  cash-generating  unit,  which  is  included  in  the  
“Other Europe” group.  
The  performance  of  Sopra  Financial  Technology GmbH  is  
individually monitored and Sopra Steria’s management identifies it  
The allocation of goodwill breaks down as follows:  
SFT  
(in millions of euros)
Total assets acquired  
151.5  
Total liabilities assumed  
-119.5  
Total net assets acquired/(net liabilities assumed)  
Minority interests  
32.1  
15.7  
Purchase price  
22.6  
GOODWILL
6.3
Other– On 10 January 2020 the Group, viaits subsidiary Galitt, acquired 100% of ADN’co, a French consulting firm specialising in the  
p
payment systems market. The assets acquired and liabilities assumed totalled €0.2 million, and goodwill totalled €2.0 million.  
On  2 March  2020,  the  Group  acquired  cxpartners,  a  UK-based  
consultancy  specialising  in  customer  experience  and  user-centred  
liabilities  assumed  totalled  -€0.1 million,  and  provisional  goodwill  
totalled €5.8 million.  
design, via its subsidiary Sopra Steria Ltd. The assets acquired and  
Business combinations  
The  Group  applies  IFRS 3  Business  Combinations  to  the  
identified  assets  acquired  and  liabilities  assumed  as  a  result  of  
business combinations. The acquisition of an asset or a group of  
assets that does not constitute a business is recognised under the  
standards applicable to those assets.  
the  net  amount  of  the  identifiable  assets  acquired  and  
liabilities assumed.  
The  decision  of  how  to  measure  non-controlling  interests  is  
made  on  an  acquisition-by-acquisition  basis  and  leads  to  the  
recognition of either full goodwill (should the fair value method  
be used) or partial goodwill (should a share of the fair value of  
the identifiable assets acquired and liabilities assumed be used).  
The Group recognises all business combinations by applying the  
acquisition method, which consists in:  
the  measurement  and  recognition  at  fair  value  of  the  
The acquisition date is the date on which the Group effectively  
obtains control of the acquiree.  
p
identifiable assets acquired and liabilities assumed. The Group  
identifies  and  allocates  these  items  on  the  basis  of  contract  
provisions,  economic  conditions,  and  its  accounting  and  
management policies and procedures;  
The  purchase  price  of  the  acquiree  is  the  fair  value,  at  the  
acquisition date, of the elements of consideration transferred to  
the  seller  in  exchange  for  control  of  the  acquiree,  to  the  
exclusion  of  any  consideration  for  a  transaction  separate  from  
the business combination.  
the  measurement  of  any  non-controlling  interest  in  the  
p
acquiree either at its fair value or based on its share ofthe fair  
value  of  the  identifiable  assets  acquired  and  liabilities  
assumed;  
If the initial accounting for a business combination can only be  
determined  provisionally  for  the  reporting  period  in  which  the  
combination  takes  place,  the  acquirer  recognises  the  
combination using provisional amounts. The acquirer must then  
recognise  adjustments  to  those  provisional  amounts  as  the  
accounting  for  the  business  combination  is  completed  within  
12 months of the acquisition date.  
the  measurement  and  recognition  at  the  acquisition  date  of  
the difference (referred to as goodwill) between:  
p
the purchase price of the acquiree plus the amount of any  
non-controlling interests in the acquiree, and  
2.2. Other changes in scope  
In 2020, no other material changes in scope took place.  
On 28 June 2019, the Group sold 100% of its recruitment subsidiary in the United Kingdom, Sopra Steria Recruitment Ltd. It recorded a  
gain  on  disposal  of  €1.4 million,  net  of  costs  to  sell,  which  is  shown  under  Other  non-current  operating  income  and  expenses  (see  
Note 4.2).  
168  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 3
SEGMENT INFORMATION  
3.1. Results by reporting unit  
a. France  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Revenue  
1,655.6  
111.9  
104.8  
84.9  
1,813.1  
Operating profit on business activity  
Profit from recurring operations  
Operating profit  
6.8%  
6.3%  
5.1%  
175.5  
167.2  
156.9  
9.7%  
9.2%  
8.7%  
b. United Kingdom  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Revenue  
699.8  
56.0  
44.1  
27.7  
771.5  
56.1  
43.8  
42.3  
Operating profit on business activity  
Profit from recurring operations  
Operating profit  
8.0%  
6.3%  
4.0%  
7.3%  
5.7%  
5.5%  
c. Other Europe  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Revenue  
1,249.0  
101.0  
96.5  
1,152.9  
77.4  
Operating profit on business activity  
Profit from recurring operations  
Operating profit  
8.1%  
7.7%  
6.6%  
6.7%  
6.3%  
5.7%  
73.0  
66.1  
82.4  
d. Sopra Banking Software  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Revenue  
421.6  
10.5  
-4.1  
438.9  
4.9  
-8.9  
Operating profit on business activity  
Profit from recurring operations  
Operating profit  
2.5%  
-1.0%  
-2.5%  
1.1%  
-2.0%  
-4.1%  
-10.6  
-18.0  
e. Other Solutions  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Revenue  
236.9  
20.8  
19.9  
17.9  
257.5  
40.3  
39.1  
35.9  
Operating profit on business activity  
Profit from recurring operations  
Operating profit  
8.8%  
8.4%  
7.5%  
15.7%  
15.2%  
14.0%  
f. Group  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Revenue  
4,262.9  
300.2  
261.2  
202.3  
4,434.0  
354.3  
314.2  
283.2  
Operating profit on business activity  
Profit from recurring operations  
Operating profit  
7.0%  
6.1%  
4.7%  
8.0%  
7.1%  
6.4%  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
169
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Under  IFRS 8,  segment  information  is  based  on  internal  
management  data  used  by  the  Chief  Executive  Officer,  the  
company  officer  with  ultimate  responsibility  for  the  Group’s  
operational decisions.  
the Other Europe” reporting unit, comprising the Consulting,  
Systems  Integration,  IT  Infrastructure  Management  and  
Cybersecurity activities in European countries other than France  
and those in the United Kingdom (Germany, Norway, Sweden,  
Denmark, Spain, Italy, Belgium, Luxembourg and Switzerland),  
including  the  Sopra  Financial  Technology GmbH  banking  
services platform in Germany;  
p
The Group organisational structure reflects both its businesses and  
the geographic distribution of its activities.  
The segments presented correspond to five reporting units:  
the  “Sopra  Banking  Software”  reporting  unit,  comprising  the  
Core Banking and Specialised Lending Solutions businesses;  
p
p
the “France” reporting unit, comprising the Consulting, Systems  
p
Integration,  IT  Infrastructure  Management  and  Cybersecurity  
activities in this geographic area;  
the  “Other  Solutions”  reporting  unit,  comprising  the  Human  
Resources and Real Estate Management Solutions businesses.  
the  “United  Kingdom”  reporting  unit,  comprising  the  
p
Consulting, Systems Integration, IT Infrastructure Management,  
Cybersecurity  and  Business  Process  Services  activities  in  this  
geographic area;  
3.2. Revenue by geographic area  
France  
Outside France  
Total  
(in millions of euros)
Financial year 2019  
2,186.7  
2,247.3  
4,434.0  
Financial year 2020  
2,033.7  
2,229.2  
4,262.9  
The above breakdown is based on geographic area and does not represent the reporting units presented in Note 3.1.  
3.3. Non-current assets by geographic area  
United Other European  
France  
Kingdom  
countries  
Other countries  
Total  
(in millions of euros)
Goodwill  
Intangible assets  
Property, plant and equipment  
827.7  
92.0  
61.1  
674.3  
78.5  
16.8  
339.2  
62.2  
42.1  
2.0  
0.1  
12.5  
1,843.2  
232.9  
132.5  
The above breakdown is based on geographic area and does not represent the reporting units presented in Note 3.1.  
NOTE 4
OPERATING PROFIT  
4.1. Breakdown of revenue by reporting unit  
Financial year 2020  
Financial year 2019  
(in millions of euros)
France  
United Kingdom  
Other Europe  
Sopra Banking Software  
Other Solutions  
1,655.6  
699.8  
1,249.0  
421.6  
38.8%  
16.4%  
29.3%  
9.9%  
1,813.1  
771.5  
1,152.9  
438.9  
40.9%  
17.4%  
26.0%  
9.9%  
236.9  
5.6%  
257.5  
5.8%  
TOTAL REVENUE
4,262.9
100.0%
4,434.0
100.0%
170  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Revenue  mainly  comprises  revenue  from  services  recognised  on  a  
percentage-of-completion basis, around 98.5% of which consists of  
Implementation,  consulting  and  assistance  services  provided  on  a  
time-and-materials  basis;  outsourcing;  infrastructure  management;  
third-party application maintenance; and development.  
those included in a contract for which the initial expected term  
does not exceed one year: the Group only applies this exemption  
to software maintenance royalty-type services, for which the fixed  
term of the majority of contracts does not exceed one year.  
p
On this basis, within the limits set by the standard, revenue not yet  
recognised  that  is  allocated  to  performance  obligations  not  yet  
fulfilled  is  only  attributable  to  services  under  fixed-price  contracts  
and, to a lesser extent, sales of licences for which control has not  
yet  been  transferred  to  customers.  It  amounted  at  least  
€816.1 million at 31 December 2020. Most of it will be recognised  
in revenue in the following financial year.  
The transaction price allocated to performance obligations not yet  
satisfied  at  31 December  2020  is  determined  by  applying  the  
exemptions provided by the standard, which enable the following  
performance obligations to be excluded in determining this value:  
those performed on the basis of the actual use of billable services:  
p
implementation, consulting and assistance services provided on a  
time-and-materials  
basis;  
outsourcing;  
infrastructure  
management; and third-party application maintenance (corrective  
maintenance);  
Revenue recognition  
completion  of  project  milestones.  It  can  also  include  a  financial  
component or a consideration payable to the client.  
Revenue recognition should reflect the transfer of control of goods  
or  services  promised  to  the  customer  for  the  amount  of  the  
consideration the Group expects in return.  
At  the  contract’s  inception,  variable  consideration  is  only  taken  
into account in the amount for which the Group deems it highly  
probable that there will not be a material decrease in revenue in  
subsequent  periods,  and  provided  it  is  not  subject  to  factors  
outside  the  Company’s  influence.  This  variable  consideration  is  
allocated  to  the  performance  obligations  pro  rata  to  their  
respective  standalone  selling  price  if  it  cannot  be  otherwise  
allocated.  
a. General principles  
i. Identifying the contract with the customer  
Revenue recognition for a contract or a group of contracts must  
meet  five  criteria:  the  contract  must  have  commercial  substance  
(generation of future cash flows for the Group), the parties must  
have  approved  the  contract  and  have  pledged  to  meet  their  
respective obligations, the rights and obligations of each partyare  
identified,  the  payment  conditions  are  identifiable,  and  the  
customer  has  the  ability  and  intention  to  pay  that  amount  of  
consideration in exchange for the goods and services provided.  
A  financial  component  included  in  the  transaction  price  is  
identified  if  it  is  material  and  if  the  period  between  completion  
and payment exceeds twelve months or if the timing to fulfil the  
services  diverges  substantially  from  that  of  the  payments.  This  
material financial component results in an adjustment to revenue  
and  is  recorded  as  financial  income  in  Other  financial  income,  
where the Group finances the customer or as a financial expense  
in  Other  financial  expenses,  where  the  customer  finances  the  
Group through the payment of advances.  
ii. Identifying the performance obligations in the contract  
The  contract  or  group  of  contracts  may  include  one  or  more  
performance  obligations:  single-service  or  multi-component  
arrangements. A performance obligation is distinct if it meets two  
conditions. First, the underlying good or service must be distinct in  
absolute terms: the customer can benefit from the good or service  
either  on  its  own  or  through  readily  available  market  resources.  
The  good  or  service  must  also  be  distinct  with  respect  to  the  
contract,  necessitating  an  analysis  of  the  transformation  
relationship  between  the  various  goods  and  services  comprising  
the contract. This relationship does not exist if the good or service  
is  not  used  to  produce  other  goods  or  services  covered  in  the  
contract;  it  does  not  significantly  modify  or  customise  another  
good  or  service  promised  in  the  contract;  or  it  is  not  highly  
dependent on, or highly interrelated with, other goods or services  
promised in the contract.  
A  consideration  payable  to  the  customer  is  deducted  from  the  
contract’s transaction price if it does not correspond to aseparate  
service provided by the customer. Otherwise, it is recognised as an  
operating expense.  
iv. Allocating  the  transaction  price  to  the  various  
performance obligations identified  
The transaction price is allocated to each performance obligation  
identified in the contract pro rata to the standalone selling prices  
of each underlying good or service. The standalone selling price is  
the  price  of  the  performance  obligation  as  if  it  were  sold  
separately.  It  is  generally  based  on  list  prices,  similar  past  
transaction  prices  and  observable  market  prices.  With  certain  
multi-component  arrangements,  essentially  relating  to  software  
solutions,  the  Group  may  need  to  estimate  the  licence’s  
standalone  selling  price  using  a  residual  approach;  this  
corresponds to the contract’s transaction price less the standalone  
selling prices of the other performance obligations.  
iii. Determining the transaction price  
Once  the  contract’s  existence  is  validated  and  the  various  
performance obligations identified, the contract’s transaction price  
must  be  determined  and  allocated  to  the  various  completed  
performance obligations.  
The  contract’s  transaction  price  may  include  variable  
consideration,  generally  in  the  form  of  discounts,  reductions,  or  
penalties  or,  conversely,  bonuses,  and  may  be  subject  to  the  
The amount allocated to each performance obligation identified in  
the  contract  is  recognised  in  revenue  when  control  of  the  
underlying  goods  or  services  promised  in  the  contract  is  
transferred to the customer.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
171
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
v. Recognising revenue  
The costs of fulfilling or implementing a contract are costs directly  
related  to  the  contract,  which  are  necessary  to  satisfying  
performance  obligations  in  the  future  and  are  expected  to  be  
recovered.  They  do  not  meet  the  criteria  defined  in  the  general  
principles to constitute a distinct performance obligation.  
The control of a good or service is transferred to the customer over  
time  
(requiring  
revenue  
recognition  
on  
a
percentage-of-completion  basis)  solely  if  one  of  the  following  
three criteria is met:  
Certain  third-party  application  maintenance,  infrastructure  
management or outsourcing contracts may include transition and  
transformation  phases.  In  basic  contracts,  these  activities  are  
combined for the purpose of preparing the operating phase. They  
are not distinct from subsequent services to be rendered. In this  
case,  they  represent  costs  to  implement  the  contract.  They  are  
capitalised  and  recognised  in  Inventories  and  work  in  progress  
(Other current assets).  
the customer simultaneously receives and consumes the benefits  
of performance as it occurs;  
p
the performance creates or enhances an asset that the customer  
controls as the asset is created or developed;  
p
if neither of the first two criteria apply, the revenue generated  
p
by  performance  under  a  fixed-price  contract  can  only  be  
recognised  on  a  percentage-of-completion  basis  if  the  asset  
created has no alternative use for the Group and the Group has  
an enforceable right to payment for the performance completed  
to date.  
Conversely,  in  more  complex  or  sizeable  contracts,  the  
transformation  phase  is  often  longer  and  more  significant.  This  
generally  occurs  prior  to  operations  or  parallel  to  temporary  
operations to define a target operating model. In these situations,  
this service often represents a distinct performance obligation.  
Services not yet rendered or partially invoiced are presented on the  
balance sheet in Customer contract assetsunder Trade receivables  
and related accounts. Services invoiced but not totally fulfilled are  
presented  on  the  balance  sheet  in  Customer  contract  liabilities  
under  Other  current  liabilities.  Customer  contract  assets  and  
liabilities are presented on a net basis for each individual contract.  
Licences  in  SaaS  mode  require  preparatory  phases  (functional  
integration, set-up of the technical environment) in order toreach  
a  target  operating  phase.  These  are  not  distinct  performance  
obligations but represent costs to implement the contract that are  
capitalised  and  recognised  in  Inventories  and  work  in  progress  
(Other current assets).  
If  a  fixed-price  contract  becomes  loss-making,  the  loss  on  
completion  is  automatically  provided  for  in  Provisions  for  
contingencies and losses.  
The  costs  of  fulfilling  or  implementing  a  contract  capitalised  in  
Inventories  and  work  in  progress  (Other  current  assets)  are  
released  to  profit  or  loss  in  a  pattern  consistent  with  revenue  
recognition and never give rise to the recognition of revenue.  
b. Practical  application:  Revenue  recognition  for  services  
performed by the Group on behalf of customers  
i. Costs of obtaining a contract  
iii. Production,  consulting  and  assistance  services  
The costs of obtaining a contract are capitalised in assets if two  
conditions  are  met:  they  would  not  have  been  incurred  had  the  
contract  not  been  obtained,  and  they  are  recoverable.  They  can  
include sales commissions if these are specifically and solely linked  
to  obtaining  a  contract  and  were  not  therefore  granted  in  a  
discretionary manner.  
provided  on  a  time-and-materials  basis;  outsourcing;  
infrastructure  
management;  
and  
third-party  
application maintenance (corrective maintenance)  
Revenue from implementation, consulting and assistance services  
provided on a time-and-materials basis; outsourcing; infrastructure  
management; and third-party application maintenance (corrective  
maintenance)  is  recognised,  in  accordance  with  the  general  
principles,  when  the  customer  simultaneously  receives  and  
consumes the benefits of the service. Revenue is recognised based  
on time spent or another billable unit of work.  
ii. Costs of fulfilling a contract: Transition/transformation  
phases  of  third-party  application  maintenance,  
infrastructure management and outsourcing contracts,  
preparatory phase for licences in SaaS mode  
172  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
iv. Services covered by fixed-price contracts  
A right to access corresponds to the development of solutions in  
SaaS  mode.  Changes  at  any  time  made  by  the  developer  to  the  
solution  that  expose  the  customer  to  any  positive  or  negative  
effects  do  not  represent  a  service  for  the  customer.  In  this  
situation,  revenue  is  recognised  as  and  when  the  customer  
receives and consumes the benefits provided by performance.  
Revenue  from  services  performed  under  fixed-price  contracts  is  
recognised over time (rather than at a specific date), in accordance  
with  general  revenue  recognition  principles,  using  the  
percentage-of-completion method in the following two situations:  
the  services  are  performed  in  the  customer’s  environment  or  
enhance a customer’s asset. The customer obtains control as the  
asset is created or developed;  
If  the  nature  of  the  licence  granted  to  the  customer  does  not  
correspond to the definition of a right to access, it is a right to  
use. In this situation, revenue from the licence shall be recognised  
on delivery when all the obligations stipulated in the contract have  
been met.  
the contract provides for the development of highly specific assets  
in  the  Group’s  environment  (e.g.  solutions)  prior  to  
implementation in the customer’s infrastructure. The contract also  
provides for settlement of the value of such services in the event of  
termination for convenience (where the customer is entitled to do  
so). The Group has no alternative use for the asset created and has  
an  enforceable  right  to  payment  for  performance  completed  to  
date.  
A licence sale in the form of a subscription may be considered the  
sale of either a right to access an asset or a right to use an asset,  
depending  on  the  rights  and  obligations  set  out  in  the  lease  
signed with the customer.  
vi. Principal/Agent distinction  
Revenue  and  profit  generated  over  time  by  services  performed  
under  fixed-price  contracts  are  recognised  based  on  a  technical  
estimate of the degree of completion, measured as the difference  
between the contract value and the amount required to cover the  
total number of person-days remaining to be performed.  
Should the analysis of a contract in accordance with the general  
principles  identify  the  resale  of  goods  or  services  as  a  distinct  
performance obligation, it is necessary to determine whether the  
Group is acting as an agent or a principal. It is acting as an agent  
if  it  is  not  responsible  to  the  customer  for  satisfying  the  
performance  obligation  and  for  the  customer’s  acceptance,  if  
there is no transformation of the goods or services and there isno  
inventory  risk.  In  this  situation,  revenue  is  recognised  for  a  net  
amount  corresponding  to  the  agent’s  margin  or  a  commission.  
Otherwise, where it obtains control of the good or serviceprior to  
its transfer to the end-customer, it is acting as a principal. Revenue  
is  recognised  for  the  gross  amount  and  external  purchases  are  
recorded in full as an operating expense.  
v. Licences  
Should the analysis of a contract in accordance with the general  
principles  identify  the  delivery  of  a  licence  as  a  distinct  
performance  obligation,  control  is  transferred  to  the  customer  
either  at  a  point  in  time  (grant  of  a  right  to  use),  or  over  time  
(grant of a right to access).  
4.2. Other operating income and expenses included in Operating profit  
Aside from the staff costs detailed in Note 5, Operating profitmainly includes the following items:  
4.2.1.  
External expenses and purchases included in Operating profit on business activity  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Project subcontracting purchases  
Purchases held in inventory of equipment and supplies  
Goods purchases and changes in inventory  
Leases  
Maintenance and repairs  
Subcontracting  
Remuneration of intermediaries and fees  
Advertising and public relations  
Travel and entertainment  
Telecommunications  
Other expenses  
-630.3  
-17.1  
-79.0  
-40.5  
-77.6  
-12.9  
-73.5  
-13.1  
-55.6  
-26.0  
-36.5  
59.3%  
1.6%  
7.4%  
3.8%  
7.3%  
1.2%  
6.9%  
1.2%  
5.2%  
2.4%  
3.4%  
-710.9  
-23.0  
-61.3  
-36.3  
-73.7  
-20.4  
-84.1  
-20.5  
-144.9  
-24.0  
-35.3  
57.6%  
1.9%  
5.0%  
2.9%  
6.0%  
1.7%  
6.8%  
1.7%  
11.7%  
1.9%  
2.9%  
TOTAL
-1,062.0
100%
-1,234.5
100%
Lease expenses only included costs excluded or exempt from the application of IFRS 16 Leases (see Note 9.1).  
4.2.2. Other current operating income and expenses included in Operating profit on business activity  
Other current operating income and expensesamounting to income of €4.8 million (income of €13.7 million in 2019) mainly comprised net  
foreign  exchange  gains  of  €3.3 million  (€10.5 million  in  2019),  which  covered  the  foreign  exchange  impact  of  other  components  of  
Operating profit on business activity.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
173
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
4.2.3.  
Other operating income and expenses included in Operating profit  
Financial year  
2020  
Financial year  
2019  
(in millions of euros)
Expenses arising from business combinations (fees, commissions, etc.)  
Net restructuring and reorganisation costs  
-3.1  
-44.6  
-6.6  
-38.0  
-3.6  
-3.3  
-31.6  
-1.3  
-30.3  
-
Integration and reorganisation of activities  
p
Separation costs  
p
Asset impairment  
Other operating expenses  
-7.5  
-1.3  
Total other operating expenses  
Other operating income  
-58.9  
-36.2  
5.2  
-
Total other operating income  
-
5.2  
TOTAL
-58.9
-31.0
Other operating income and expenses for 2020 consisted of: (i) the  
expenses  and  income  usually  recognised  within  this  line  item  and  
comparable to those recorded in 2019; and (ii) costs resulting from  
the consequences of Covid-19 for €15.6 million.  
It  is  supplemented  by  certain  costs  generated  by  the  coronavirus  
crisis.  The  Group  decided  to  implement  certain  restructuring  
measures  for  €4.3 million  in  2020,  mainly  in  India,  Sweden  and  
Spain. In addition, it also decided to restructure certain activities on  
which  the  crisis  has  had  a  significant,  lasting  impact,  such  as  the  
aeronautics sector, and for certain concerned staff it implemented  
upskilling plans to eventually reassign them to positions outside the  
scope  of  their  initial  training  and  less  impacted  by  the  crisis.  The  
costs  of  these  measures  came  to  €3.3 million  in  2020,  mainly  in  
France.  
The  amount  of  item  (i) comprised  the  restructuring  costs  of  
business reorganisations carried out mainly in the United Kingdom,  
France and Germany for €37.1 million (€8.2 million, €15.1 million  
and  €8.1  million  respectively)  of  which  €33.8  million  related  to  
resource  adjustments  and  €3.3  million  to  reorganisation  costs  of  
premises and activities. It also included€5.3 million impact of the  
21 October cyberattack, and the positive €4.7 million impact of a  
reversal of a provision for tax risks other than income tax. In2019,  
for  comparison,  the  Group  reorganised  its  activities,  mainly  in  
France  (€7.4 million),  in  Consulting  and  Systems  Integration,  at  
Sopra Banking Software (€5.2 million), in Spain (€4.1 million) and  
in  Germany  (€4.6 million).  This  essentially  comprised  expenses  
related to resource adjustments.  
The additional logistics and social costs described in Note 1.3 as a  
result  of  the  crisis  came  to  €3.2 million  and  €2.4 million,  
respectively. These are included in Other operating expenses.  
Finally,  asset  impairment  charges  represented  €3.6 million,  
including  €2.5 million  due  to  the  crisis  (see  Note 1.3),  related  to  
the  operating  licence  for  the  Visa  project  in  the  United  Kingdom.  
These impairment charges were recognised within Other operating  
expenses.  
NOTE 5
EMPLOYEE BENEFITS AND SHARE-BASED PAYMENTS  
5.1. Staff costs  
Financial year  
2020  
Financial year  
2019  
(in millions of euros)
Wages and salaries  
Social security contributions  
Net expense for post-employment and similar benefit obligations  
-2,027.1  
-636.6  
-14.0  
-1,999.5  
-631.7  
-37.3  
TOTAL
-2,677.7
-2,668.5
Furlough  measures  were  implemented  as  a  result  of  the  Covid-19  
crisis  in  various  countries  where  the  Group  has  operations.  The  
amounts received from various governments were recognised as a  
deduction to personnel expenses and amounted to €10.8 million.  
The  Group’s  management  decided  to  supplement  the  indemnities  
paid by certain governments under staff furlough measures in order  
to maintain the salaries of the affected personnel. The cost of this  
decision amounted to €4.6 million.  
The Group recognises the amount of short-term employee benefits, as well as the contributions due in respect of its pension plans, under  
Staff costs. As the Group has no commitments beyond these contributions, no provisions are recognised for these plans.  
The  principles  applicable  to  post-employment  benefit  expenses  and  similar  items  are  presented  in  Note 5.3.2  for  other  long-term  
employee benefits and Note 5.3.1 for post-employment benefits.  
174  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
5.2. Workforce  
Financial year  
2020  
Financial year  
2019  
Workforce at period-end  
France  
International  
19,759  
26,201  
19,502  
26,743  
TOTAL
45,960
46,245
Financial year  
2020  
Financial year  
2019  
Average workforce  
France  
International  
19,549  
26,667  
19,513  
26,542  
TOTAL
46,216
46,055
5.3. Retirement benefits and similar obligations  
Retirement benefits and similar obligations break down as follows :  
31/12/2020  
31/12/2019  
(in millions of euros)
Post-employment benefit assets  
Post-employment benefit liabilities  
-3.1  
383.2  
-2.0  
341.8  
Net post-employment benefits  
Other long-term employee benefits  
TOTAL
380.1  
10.2  
339.7  
10.2  
390.4
350.0
5.3.1.  
Post-employment benefits  
with legal, investment policy and actuarial matters. Under UK law,  
the  plans  must  be  assessed  every  three years.  This  assessment  is  
used  as  a  basis  to  determine  the  contributions  payable  by  the  
employer to the funds. It was completed in 2020 The creation of a  
new plan on 1 February 2020 through the merger of three existing  
plans  will  simplify  the  administration  of  these  post-employment  
benefit  plans.  Accordingly,  a  further  assessment  will  be  required  
within  12 months,  which  was  scheduled  for  31 December  2020.  
This will establish an agreement on the level of contributions to be  
paid. It will then have to be approved by the trustees by 31 March  
2022.  
Post-employment  benefits  mainly  concern  the  Group’s  obligations  
towards  its  employees  to  provide  retirement  bonuses  in  France  
(42.6%  of  the  Group’s  total  obligations)  and  defined-benefit  
pension plans in the United Kingdom (38.8% of the Group’s total  
obligations) and Germany (17.2%). For marginal amounts, they also  
include  end-of-contract  bonuses  in  certain  countries  in  Africa,  as  
well  as  a  defined-benefit  plan  in  Belgium.  At  31 December  2020  
they  totalled  €380.1 million,  versus  €339.7 million  at  
31 December 2019.  
In  the  United  Kingdom,  the  Group  has  five post-employment  
defined-benefit plans. During financial year 2020, members of three  
existing plans were transferred and pooled together in a new sixth  
plan.  The  remaining  members  will  be  transferred  during  financial  
year  2021.  The  obligations  under  each  plan  are  asset-funded.  
Three of  these  plans  are  closed  to  all  new  employees  and  the  
vesting  of  future  benefits  has  ceased.  For each  plan,  the  benefits  
payable are primarily based on the plan member’s final salary or, in  
certain cases, an average of the member’s salary and any additional  
benefits. Each plan holds its assets in a trust fund for employees and  
is supervised by the regulating body defined in UK pension law. The  
plan  trustees  are  corporate  trustees  whose  directors  include  
representatives  of  the  plan  members,  representatives  of  the  
Company and independent members. External consultants are hired  
by the trustees to manage the plans on a day-to-day basis and deal  
The risks associated with these plans relate to:  
asset management;  
p
inflation,  to  which  pension  benefits  are  indexed,  although  this  
p
risk  is  limited  by  the  use  of  inflation-indexed  financial  
instruments;  
interest rates insofar as the future cash outflows are discounted,  
p
although  this  risk  is  limited  by  the  use  of  interest  rate  hedging  
instruments;  
changes in demographic assumptions such as mortality.  
p
These  plans  distinguish  between  active  members  who  are  still  
vesting benefits, members who are still working but whose benefits  
are  frozen,  and  retired  members.  These  three member  categories  
represent 4.1%, 54.9% and 41.0%, respectively, of total obligations.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
175
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Projected  benefit  outflows  by  the  funds,  which  had  a  total  of  
€1,851.3 million in assets at 31 December 2020, are as follows, in  
millions of pounds sterling, over the next ten years:  
terms  of  voluntary  and  compulsory  retirement  under  the  Syntec  
collective bargaining agreement.  
The  resulting  liability  fluctuates  according  to  demographic  
assumptions  such  as  mortality  rates  (public  statistics)  and  the  
discount rate (Bloomberg eurozone index).  
less than two years: £134.1 million;  
p
two to five years: £215.0 million;  
p
This plan is exposed to interest rate risk, inflation risk and the risk of  
changes in demographic assumptions.  
five to ten years: £398.5 million.  
p
These  outflows  correspond  to  benefits  provided  and  estimates  for  
transfers  of  obligations  (and  the  related  assets),  at  the  request  of  
recipients, to external asset managers.  
InGermany,  there  are  six  plans,  two of  which  are  material  
(€55.9 million). Since these plans are not funded, they are covered  
by a provision. The purpose of the main plan is to pay a minimum  
pension equal to 14.1% of the salary paid up to the social security  
ceiling  and  35.2%  beyond  that  ceiling.  This  plan  only  involves  
employees who entered into service prior to 1 January 1986, and  
pension entitlements have been frozen since 30 September 1996.  
This plan is exposed to interest rate risk, inflation risk and the risk of  
changes in demographic assumptions.  
Assets  covering  these  obligations  came  to  €1,703.9 million  at  
31 December 2020.  
These plans include the payment of contributions to fund the deficit  
existing  in  the  funds  (contributions  less  mandatory  expenses  and  
deductions)  and  to  fund  the  current  service  cost  for  the  financial  
year.  In 2020,  over  12 months,  contributions  paid  totalled  
€29.5 million,  including  €22.3 million  to  fund  the  deficit  
(€25.3 million  including  other  related  disbursements).  The  
contribution  to  be  paid  in  2021  is  expected  to  amount  to  
£25.6 million, including £20.4 million to fund the deficit.  
There are also plans in Poland, Cameroon, Côte d’Ivoire, Tunisia and  
Belgium. The plan in Belgium is funded and serves to pay an annuity  
to  plan  members  on  retirement.  The  other  plans  cover  
end-of-contract bonuses payable. These plans are grouped together  
under “Other”, with the plan in Belgium being the main contributor  
to this item.  
In  France,  the  defined-benefit  plan  concerns  the  payment  of  
retirement  bonuses.  The  Group  recognises  provisions  for  its  
employee  benefit  obligations,  principally  in  accordance  with  the  
176  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
a. Change in net liabilities arising from the main post-employment benefit plans in financial year 2020  
Defined-  
benefit  
pension  
funds –  
United  
Defined-  
benefit  
pension  
funds –  
Retirement  
bonuses –  
France  
Kingdom  
Germany  
Other  
Total  
(in millions of euros)
Calculation assumptions for actuarial liabilities  
0.11% to  
0.44%  
0.13% to  
0.34%  
0.13% to  
10.30%  
Discount rate  
Inflation rate  
1.41%  
2.09%  
NA  
N/A  
N/A  
2.00% to  
2.50%  
2.00% to  
2.50%  
60 to 65  
3.00% to  
10.00%  
Rate of salary increase  
Retirement age  
2.89%  
65  
65  
Varies  
Amounts recognised in the balance sheet  
Present value of the obligation at 31/12/2020  
Fair value of plan assets at 31/12/2020  
1,851.3  
1,703.9  
164.9  
1.8  
68.2  
2.9  
13.5  
9.2  
2,097.9  
1,717.8  
Net liabilities on the balance sheet at 31/12/2020  
147.5  
163.1  
65.3  
4.3  
380.1  
Net liability cost components  
Current service cost  
Past service cost  
4.2  
-
10.1  
-
0.5  
-
0.3  
-
15.0  
-
Losses/(gains) on plan settlements  
Interest on obligation  
Interest on plan assets  
-
-
-
-
-
34.6  
-32.2  
1.3  
-0.0  
0.5  
-0.0  
0.1  
-0.0  
36.5  
-32.3  
Total expenses recognised in the income  
statement  
6.6  
11.3  
0.9  
0.3  
19.2  
Effect of net liability remeasurements  
42.1  
11.3  
4.3  
0.5  
58.3  
Return on plan assets (excluding amounts included  
in interest income)  
Experience adjustments  
Impact of changes in demographic assumptions  
p
-168.3  
-5.1  
-2.9  
0.0  
0.4  
0.5  
-
-0.9  
-
-0.2  
0.5  
-0.1  
0.4  
-168.5  
-5.0  
-2.6  
p
p
Impact of changes in financial assumptions  
218.5  
10.4  
5.2  
234.5  
p
Total expenses recognised directly in equity  
42.1  
11.3  
4.3  
0.5  
58.3  
Changes in net liabilities  
Net liability at 1 January 2020  
Changes in scope  
Net expense recognised in the income statement  
Net expense recognised in equity  
Contributions  
135.7  
-
138.0  
5.8  
11.3  
11.3  
-3.4  
-3.4  
-
62.1  
-
3.9  
-
339.7  
5.8  
6.6  
42.1  
-29.5  
-29.5  
-
0.9  
4.3  
-2.0  
-2.0  
-
0.3  
0.5  
-0.5  
-0.5  
-
19.2  
58.3  
-35.5  
-35.5  
-
Employer contributions  
p
Employee contributions  
p
Exchange differences  
Other movements  
-7.5  
-
-
-
-
-
-0.0  
-0.0  
-7.5  
-0.0  
NET LIABILITY AT 31 DECEMBER 2020
147.5
163.1
65.3
4.3
380.1
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
177
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Changes in scope essentially reflected the acquisition of Sodifrance in France.  
For reference, net liabilities arising from the main post-employment benefit plans changed as follows in financial year 2019:  
Defined-  
benefit  
pension  
funds –  
United  
Defined-  
benefit  
pension  
funds –  
Retirement  
bonuses –  
France  
Kingdom  
Germany  
Other  
Total  
(in millions of euros)
Calculation assumptions for actuarial liabilities  
0.08% to  
1.09%  
0.20%  
0.08% to  
0.87%  
0.40% to  
6.35%  
Discount rate  
Inflation rate  
2.07%  
2.02%  
N/A  
N/A  
2.00% to  
2.50%  
Rate of salary increase  
Retirement age  
2.92%  
65  
2% to 2.50%  
60 to 65  
3% to 7%  
Varies  
65  
Amounts recognised in the balance sheet  
Present value of the obligation at 31/12/2019  
Fair value of plan assets at 31/12/2019  
1,779.2  
1,643.5  
139.9  
1.9  
64.6  
2.5  
14.2  
10.3  
1,997.9  
1,658.2  
Net liabilities on the balance sheet at  
31/12/2019  
135.7  
138.0  
62.1  
3.9  
339.7  
Net liability cost components  
Current service cost  
Past service cost  
Losses/(gains) on plan settlements  
Interest on obligation  
Interest on plan assets  
4.0  
-
-
44.2  
-40.3  
8.9  
0.0  
-
2.2  
-0.0  
0.2  
1.5  
-
0.7  
-
0.9  
-
-
0.1  
-0.1  
14.0  
1.5  
-
47.3  
-40.4  
Total expenses recognised in the income  
statement  
7.9  
11.1  
2.5  
0.9  
22.4  
Effect of net liability remeasurements  
1.6  
8.7  
4.0  
0.2  
14.5  
Return on plan assets (excluding amounts included  
in interest income)  
Experience adjustments  
Impact of changes in demographic assumptions  
p
-143.6  
-14.2  
-22.5  
181.9  
-0.0  
-2.0  
-5.2  
15.9  
-
-0.5  
-
-0.3  
0.0  
0.1  
0.5  
-143.9  
-16.7  
-27.6  
202.7  
p
p
Impact of changes in financial assumptions  
4.5  
p
Total expenses recognised directly in equity  
Changes in net liabilities  
1.6  
8.7  
4.0  
0.2  
14.5  
Net liability at 1 January 2019  
147.5  
-
115.3  
5.0  
11.1  
8.7  
-2.0  
-2.0  
-
41.3  
15.9  
2.5  
4.0  
-1.6  
-1.6  
-
4.2  
-
308.3  
20.9  
22.4  
14.5  
-32.7  
-32.7  
-
Changes in scope  
Net expense recognised in the income statement  
Net expense recognised in equity  
Contributions  
7.9  
1.6  
-28.3  
-28.3  
-
0.9  
0.2  
-0.7  
-0.7  
-
Employer contributions  
p
Employee contributions  
p
Exchange differences  
Other movements  
7.0  
-
-
-
-
0.0  
-0.7  
7.0  
-0.7  
0.0  
NET LIABILITY AT 31 DECEMBER 2019
135.7
138.0
62.1
3.9
339.7
178  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
b. Change in pension assets and liabilities in the United Kingdom  
In the United Kingdom, net liabilities arising from post-employment defined-benefit plans reflect the net value of benefit obligations and the  
plan assets covering them. These assets and liabilities changed as follows:  
31/12/2020  
31/12/2019  
(in millions of euros)
Present value of the obligation at the beginning of the period  
1,779.2  
1,544.1  
-
Changes in scope  
-
-97.2  
4.2  
Translation adjustments  
Current service cost  
Past service cost  
84.2  
4.0  
-
-
Interest  
34.6  
-
44.2  
-
Employee contributions  
Effect of obligation remeasurements  
203.0  
-5.1  
-2.9  
211.0  
-
145.0  
-14.2  
-22.5  
181.7  
-
Experience adjustments  
p
Impact of changes in demographic assumptions  
p
Impact of changes in financial assumptions  
p
Plan amendments  
Transfers  
-
-
Benefits provided  
-72.4  
-42.3  
PRESENT VALUE OF THE OBLIGATION AT THE END OF THE PERIOD
1,851.3
1,779.2
Fair value of plan assets at the beginning of the period  
1,643.5  
-
1,396.6  
-
Changes in scope  
Translation adjustments  
Interest  
Effects of plan asset remeasurements  
-89.7  
32.2  
160.9  
168.3  
-7.4  
29.5  
-
77.2  
40.3  
143.4  
143.6  
-0.2  
28.3  
-
Return on plan assets (excluding amounts included in interest income)  
p
Impact of changes in financial assumptions  
p
Employer contributions  
Employee contributions  
Transfers  
-
-
Benefits provided  
-72.4  
-42.3  
FAIR VALUE OF PLAN ASSETS AT THE END OF THE PERIOD
1,703.9
1,643.5
The decrease in net liabilities mainly resulted from the contributions paid to reduce the deficit and the favourable evolution in the return on  
assets partly compensated by a reduction in the discount rate.  
UK pension fund assets fall into four investment categories:  
31/12/2020  
31/12/2019  
(in millions of euros)
Shares  
319.8  
1,043.8  
241.4  
360.0  
336.3  
249.8  
697.4  
Bonds/Private placements  
Infrastructure and property assets  
Other assets  
98.9  
TOTAL
1,703.9
1,643.5
Other  assets  mainly  comprised  cash  and  cash  equivalents  at  
31 December 2020.  
discount  rate  would  reduce  the  benefit  obligation  by  
€102.3 million. A 10% reduction in the value of the assets would  
reduce  their  amount  by  €170.4 million,  whereas  a  10%  increase  
would  increase  their  amount  by  €170.4 million.  These  sensitivity  
estimates are made on the basis of all other things being equal.  
The  discount  rate  used  for  employee  obligations  is  based  on  the  
return  on  AA bonds  in  line  with  the  duration  of  the  liabilities  
rounded  to  the  nearest  hundredth.  In  the  United  Kingdom,  the  
benchmark used is the Mercer yield curve.  
At  31 December  2020,  two  plans  were  in  a  net  asset  position,  
totalling €3.1 million. These assets are deemed recoverable through  
a future decrease in contributions.  
A  0.25-point  decrease  in  the  discount  rate  would  increase  the  
benefit  obligation  by  €90.5 million.  A  0.25-point  increase  in  the  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
179
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
c. Change in pension assets and liabilities in France  
Retirement  
bonuses –  
France  
Retirement  
bonuses –  
France  
31/12/2020  
31/12/2019  
(in millions of euros)
Present value of the obligation at the beginning of the period  
139.9  
5.8  
10.1  
-
117.4  
5.0  
8.9  
0.0  
2.2  
-
8.7  
-2.0  
-5.2  
15.9  
-
Changes in scope  
Current service cost  
Past service cost  
Interest  
1.3  
-
Employee contributions  
Effect of obligation remeasurements  
11.3  
0.4  
0.5  
10.4  
-
Experience adjustments  
p
Impact of changes in demographic assumptions  
p
Impact of changes in financial assumptions  
p
Plan amendments  
Transfers  
-
-
Benefits provided  
-3.5  
-2.2  
PRESENT VALUE OF THE OBLIGATION AT THE END OF THE PERIOD
164.9
139.9
Fair value of plan assets at the beginning of the period  
1.9  
2.1  
Changes in scope  
-
-
Translation adjustments  
Interest  
Effects of plan asset remeasurements  
-
0.0  
-0.0  
-0.0  
-
-
0.0  
0.0  
0.0  
-
Return on plan assets (excluding amounts included in interest income)  
p
Impact of changes in financial assumptions  
p
Employer contributions  
Employee contributions  
Transfers  
-
-
-
-
-
-
Benefits provided  
-0.1  
-0.2  
FAIR VALUE OF PLAN ASSETS AT THE END OF THE PERIOD
1.8
1.9
For pension liabilities in France, a 0.50-point increase or decrease in the discount rate would decrease the benefit obligation by €10.5 million  
or increase it by €11.4 million, respectively.  
The retirement bonus obligation in France breaks down as follows by maturity:  
31/12/2020  
31/12/2019  
(in millions of euros)
Present value of theoretical benefits payable by the employer in:  
Less than 1 year  
1 to 5 years  
5 to 10 years  
10 to 20 years  
More than 20 years  
4.3  
18.2  
41.6  
69.2  
31.6  
2.5  
16.2  
36.2  
59.8  
25.2  
TOTAL OBLIGATION
164.9
139.9
180  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Defined-benefit  plans  are  paid  for  either  directly  by  the  Group,  
which funds the benefits to be granted, or via pension funds to  
whichthe Group contributes. In both cases, the Group recognises  
a  pension  liability  corresponding  to  the  present  value  of  future  
payments, which is estimated by taking into consideration relevant  
internal  and  external  factors  as  well  as  the  laws  and  regulations  
specific to each Group entity.  
The expense representing the current service cost for the period is  
recognised in profit or loss within Staff costs.  
The effects of plan amendments, recognised through past service  
cost (cost of service in prior periods modified by the introduction  
of changes or new benefit plans), are recognised immediately in  
profit or loss within Staff costswhen they occur.  
Any  gains  or  losses  recognised  in  the  event  of  defined-benefit  
pension plan curtailments or settlements are recognised in profit  
or loss when the event occurs within Other operating income or  
Other operating expenses, respectively.  
Certain post-employment defined-benefit plans may comprise plan  
assets  intended  to  settle  the  obligations.  They  are  mainly  
administered by pension funds that are legally separate from the  
entities making up the Group. The assets held by these funds are  
mainly  shares  or  bonds.  Their  fair  value  is  generally  calculated  
using their market value.  
An  interest  expense  is  recognised  in  profit  or  loss  within  Other  
financial expenses and corresponds to the cost of unwinding the  
discount of the retirement benefit obligations net of plan assets.  
Obligations  in  respect  of  post-employment  defined-benefit  plans  
are  measured  annually  using  the  actuarial  valuation  method  
known as the projected unit credit method, which stipulates that  
each  period  of  service  gives  rise  to  an  additional  unit  of  benefit  
entitlement, and measures each unit separately to obtain the final  
obligation.  These  calculations  include  assumptions  regarding  life  
expectancy, employee turnover and projected future salaries.  
The  assumptions  used  in  the  actuarial  calculation  of  
defined-benefit pension obligations involve uncertainties that may  
affect the value of financial assets and obligations to employees.  
Actuarial gains and losses arising from the effects of changes in  
demographic assumptions, changes in financial assumptions and  
the  difference  between  the  discount  rate  and  the  actual  rate  of  
return  on  plan  assets,  less  their  management  and  administrative  
costs, are recognised directly in equity under Other comprehensive  
income, and are not reclassifiable to profit or loss.  
The present value of retirement benefit obligations is determined  
by  discounting  future  cash  outflows  using  the  rate  for  market  
yields on high-quality corporate bonds of the currency used to pay  
the benefit and a term consistent with the estimated average term  
of the concerned retirement benefit obligation.  
5.3.2.  
Other long-term employee benefits  
Other  long-term  employee  benefits  may  include  the  portion  
available in more than one year of employee profit-sharing liabilities  
allocated to a current account and locked in for five years in France;  
long-service awards in Germany and India; pre-pension obligations  
in  Germany  and  Belgium;  and  end-of-contract  bonuses  in  Italy,  
Lebanon  and  India.  Benefits  for  employees  in  India  make  up  the  
largest  portion  of  these  liabilities  for  2020,  for  €4.3 million  
(€4.4 million at 31/12/2019).  
The remaining long-term employee benefits primarily consist of:  
long-term paid leave such as long-service or sabbatical leave;  
nominal value that will be paid to employees at the close of the  
lock-up period is recognised as a financial liability and balanced  
by an additional staff expense. It is then reversed as a deduction  
against financial expenses over the following five years;  
long-service awards;  
p
incentives  and  bonuses  payable  12 months  or  more  after  the  
p
deferred compensation paid 12 months or more after the end  
of the period in which it is earned.  
p
end  of  the  period  in  which  the  employees  render  the  
corresponding service;  
All  expenses  relating  to  other  long-term  benefits,  including  
p
profit-sharing  liabilities.  These  are  recognised  at  the  present  
p
changes in actuarial assumptions, are recognised immediately in  
profit or loss within Staff costsin respect of the service cost and  
within  Other  financial  income  and  expenses  in  respect  of  the  
cost of unwinding the discount.  
value of the obligation at the balance sheet date. For the year in  
which  this  profit-sharing  is  appropriated,  the  difference  
between  the  present  value  of  the  profit-sharing  and  the  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
181
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
5.4. Share-based payments  
The cost of the benefits granted to employees under stock option,  
free share and employee share ownership plans, which amounted to  
€4.2 million  (€11.1 million  in  2019),  is  charged  to  Profit  from  
recurring operations.  
it also included social security contributions relating to these plans  
for €2.1 million and management costs for the remainder, which  
were virtually nil in 2020.  
5.4.1.  
Free performance share plans  
It mainly consisted of a charge corresponding to benefits granted to  
employees in respect of free performance share plans (€9.1 million  
in 2019, mainly in respect of free performance share plans. In 2019,  
Expenses  related  to  free  share  plans  totalled  €2.2 million  
(compared with €7.6 million in financial year 2019).  
Information on the rules of the main free share plans is set out below:  
Sopra Steria plans  
February 2017 plan  
February 2018 plan  
Date set up by General Management and/or  
the Board of Directors  
Number of shares that may be granted  
24 February 2017*  
109,000 (*)  
16 February 2018  
128,000  
Exchange ratio between Sopra Steria and  
Steria shares: # of Steria shares for  
1 Sopra Steria share  
Not applicable  
Not applicable  
Performance measurement period  
1 January 2017 to 31 December 2019  
1 January 2018 to 31 December 2020  
24 February 2017 to 31 March 2020  
inclusive*  
16 February 2018 to 31 March 2021  
inclusive  
Vesting period  
Mandatory holding period following the  
grant of shares  
None  
None  
1) Consolidated revenue growth in 2017,  
2018 and 2019  
1) Consolidated revenue growth in 2018,  
2019 and 2020  
Performance conditions stipulated in the plan  
2) Level of consolidated operating profit  
2) Level of consolidated operating profit  
on business activity in 2017, 2018 and 2019 on business activity in 2018, 2019 and 2020  
3) Level of consolidated free cash flow  
in 2017, 2018 and 2019  
3) Level of consolidated free cash flow  
in 2018, 2019 and 2020  
Number of potential shares that could  
have been granted as at 1 January  
2020  
63,936  
59,732  
4,204  
78,572  
0
10,892  
Number of shares granted in 2020  
Number of shares cancelled in 2020  
Number of shares vested at 31 December  
2020  
59,732  
0
Number of potential shares that could  
have been granted as at 31 December  
2020  
0
112.85 (*)  
-
67,680  
153.80  
-
2.2%  
N/A  
Share price  
Risk-free rate  
Dividends  
Volatility  
2.5%  
N/A  
(EXPENSE)/INCOME RECOGNISED IN
THE INCOME STATEMENT FOR THE
FINANCIAL YEAR IN MILLIONS OF
EUROS
0.1
2.2
(*) Including 5,000 shares granted following the Board of Directors’ decision at its meeting on 25 October 2017. The share price at that date was €157.  
182  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
No new free performance share plans were set up in 2020.  
company officer shareholding programmes (share subscription and  
share  purchase  options,  BSAAR  redeemable  equity  warrants,  free  
shares, and share capital increases reserved for employees enrolled  
in the company savings plan).  
At the Combined General Meeting of 9 June 2020, an overall limit  
of 3% of the share capital (i.e. 616,431 shares on the basis of the  
share capital at 31 December 2019) was set for all employee and  
Awards  of  free  Sopra  Steria  Group  shares  are  granted  to  some  
staff members, subject to their continued employment within the  
Group  at  the  grant  date,  and  either  subject  or  not  subject  to  
conditions relating to the Group’s performance. Benefits granted  
under free share award plans constitute additional compensation  
and are measured and recognised in the financial statements.  
vesting  conditions  must  not  be  taken  into  account  when  
estimating the fair value of the shares at the measurement date.  
When  these  equity  instruments  are  subject  to  conditions  of  
non-transferability,  the  cost  of  non-transferability  is  taken  into  
account  in  their  fair  value.  Where  appropriate,  the  inability  to  
collect  dividends  is  also  taken  into  account  in  the  fair  value  
calculation.  Lastly,  the  cumulative  expense  recognised  also  takes  
into account the estimated number of shares that will eventually  
vest.  
At  the  end  of  each  reporting  period,  the  Group  reviews  the  
potential number of shares that could be awarded based on the  
recipients  present  and  estimates  regarding  the  achievement  of  
non-market performance conditions provided for under the plans.  
The impact of this re-estimate is recognised in profit or loss as an  
offset against equity.  
The expense related to share-based payments made to employees  
under  free  share  plans  is  recognised  on  a  straight-line  basis  in  
profit  or  loss  over  the  vesting  period,  under  Expenses  related  to  
stock options and related items, which enters into the calculation  
of Profit from recurring operations. Since this is an equity-settled  
plan,  the  double-entry  for  this  expense  is  recognised  in  equity  
under the Consolidated reserves and other reserves heading.  
The  value  of  free  shares  in  awards  granted  to  employees  as  
compensation  for  services  rendered  is  measured  by  reference  to  
the fair value of the equity instrument at the grant date. This fair  
value is based on the share price at this same date. Non-market  
5.4.2.  
Employee share ownership plan  
In 2020, the Group did not set up any employee share ownership plans.  
Furthermore, the Share Incentive Plan – a special plan in place in the United Kingdom – continued and incurred an expense of €1.8 million.  
5.5. Senior management compensation (related parties)  
31/12/2020  
31/12/2019  
(in millions of euros)
Short-term employee benefits  
Post-employment benefits  
Other long-term employee benefits  
Termination benefits  
3.2  
0.0  
-
3.2  
0.0  
-
-
-
Equity compensation benefits  
0.2  
0.5  
TOTAL
3.5
3.7
The compensation information provided in the table above relates  
to  the  Chairman  of  the  Board  of  Directors,  the  Chief  Executive  
Officer  and  all  Directors  holding  a  salaried  position  within  the  
Group.  
Post-employment  benefits  correspond  to  retirement  benefits  
established  in  accordance  with  collective  bargaining  agreements  
(see Note 5.3.1). There are no obligations toward senior executives  
with  respect  to  post-employment  benefits  or  other  long-term  
employee benefits.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
183
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 6
CORPORATE INCOME TAX  
6.1. Tax expense  
Financial year  
2020  
Financial year  
2019  
(in millions of euros)
Current tax  
Deferred tax  
-57.9  
-2.5  
-78.6  
-8.8  
TOTAL
-60.4
-87.3
a. Current tax  
They are reviewed at the end of each reporting period.  
The Group determines its current tax expense by applying the tax  
laws  in  force  in  countries  where  its  subsidiaries  and  associates  
conduct  their  business  and  generate  taxable  revenues.  The  tax  
laws applied are those enacted or substantively enacted at the end  
of the reporting period.  
Tax  assets  and  liabilities  are  measured  based  on  the  tax  rates  
enacted  or  substantively  enacted  applicable  to  the  reporting  
period  during  which  the  asset  will  be  realised  or  the  liability  
settled. Their effect is recognised in profit or loss as Deferred tax  
unless  it  relates  to  items  recorded  under  Other  comprehensive  
income, in which case the effect is also included among gainsand  
losses  recognised  directly  in  equity.  Deferred  tax  assets  and  
liabilities, regardless of their expiry date, are offset when:  
b. Deferred tax  
Deferred  tax  is  recognised  on  all  temporary  differences  between  
the tax base and the carrying amount of assets and liabilities on  
consolidation.  
the Group has the legal right to settle current tax amountson a  
p
net basis; and  
Deferred tax assets are only recognised if it is probable that they  
will  be  recovered  as  a  result  of  taxable  profit  expected  in  future  
periods within a reasonable time frame.  
the  deferred  tax  assets  and  liabilities  relate  to  the  same  tax  
p
entity.  
6.2. Reconciliation of statutory and effective tax expense  
Financial year  
Financial year  
2019  
2020  
(in millions of euros)
Net profit  
118.9  
173.1  
Adjustment for:  
Net profit from associates  
2.3  
1.8  
p
Tax expense  
-60.4  
-87.3  
p
Profit before tax  
177.1  
258.7  
Statutory tax rate  
Statutory tax expense  
32.02%  
34.43%  
-56.7  
-7.2  
-5.1  
0.0  
10.0  
10.1  
-1.1  
-15.7  
5.4  
-89.1  
-9.3  
-0.2  
1.6  
9.9  
14.1  
3.2  
Permanent differences  
Impact of non-activated losses for the financial year  
Use/activation of previously uncapitalised loss carryforwards  
Impact of tax credits  
Tax rate differences  
Prior-year tax adjustments  
CVAE (net of tax)  
-16.4  
-1.1  
Other tax  
ACTUAL TAX EXPENSE
-60.4
-87.3
Effective tax rate  
34.09%  
33.77%  
The  reconciliation  between  the  statutory  tax  expense  and  the  
effective  tax  expense  is  conducted  using  the  statutory  tax  rate  in  
France  for  the  Group’s  parent  company.  This  statutory  tax  rate  
consists  of  the  31.0%  corporate  tax  rate  plus  the  1.02%  
Contribution Sociale de Solidarité des Sociétés (C3S) social security  
tax.  
The Cotisation sur la Valeur Ajoutée des Entreprises (CVAE)  a tax  
on  corporate  value  added,  which  is  a  component  of  the  
Contribution Économique Territoriale (CET) regional business tax in  
184  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
France – is recognised as part of the corporate income tax expense,  
as  is  the  Imposta  Regionale  Attività  Produttive  (IRAP)  regional  
production tax in Italy.  
Group companies can therefore vary from year to year depending  
on the relative level of taxable profit. These movements are reflected  
in Tax rate differences. This also takes into account the impact of  
the  reduced  tax  rate  in  France,  which  nevertheless  represents  an  
immaterial amount.  
The Group operates in many countries with differing tax laws and  
tax rates. Within each country, tax rates may also vary depending on  
the tax policies implemented by local governments and can lead to  
differences  between  the  current  and  deferred  tax  rates,  as  is  the  
case mainly in France. Local weighted average tax rates applicable to  
In 2020, as in 2019, Other taxessentially consisted of unrecovered  
withholdings.  
6.3. Deferred tax assets and liabilities  
6.3.1.  
Change in net deferred tax  
Change  
through  
profit or  
loss  
Change  
through  
OCI  
Currency  
Scope translation  
01/01/2020  
effect  
effect  
Other 31/12/2020  
(in millions of euros)
Deferred tax arising from:  
Intangible assets  
Property, plant and equipment  
Non-current financial assets  
-26.4  
4.1  
0.9  
4.9  
-0.4  
0.3  
0.0  
-
-
-0.1  
0.6  
-0.2  
-0.0  
-
-
-
-21.1  
3.6  
1.1  
-
-
Inventories, services in progress  
and outstanding invoices  
Other current assets  
Derivatives  
-0.4  
-0.9  
0.3  
-4.5  
-3.0  
-0.3  
-0.3  
-
0.2  
-4.4  
-4.4  
-
0.9  
1.8  
-1.2  
3.2  
-
-0.0  
0.9  
-
0.9  
-
18.0  
0.0  
18.0  
-
-4.6  
-
1.3  
0.0  
-
-
-
0.0  
-0.2  
-0.0  
0.0  
-0.0  
0.0  
-
-
-
-
-
-
-
-
-
-
-
-
-
-3.6  
-4.1  
0.8  
0.4  
0.5  
-0.4  
86.7  
7.3  
79.4  
2.7  
4.2  
-4.9  
48.3  
With impact on the income statement  
0.7  
p
With impact on OCI  
-0.4  
-0.6  
73.1  
8.8  
64.3  
1.9  
6.8  
-3.2  
42.7  
p
Financial debt  
Retirement benefit obligations  
-
1.5  
1.5  
-
-0.0  
0.1  
-0.4  
2.5  
-1.5  
1.4  
With impact on the income statement  
p
With impact on OCI  
-2.9  
-0.1  
-0.0  
-0.2  
-0.0  
p
Provisions  
Assets and liabilities related to lease assets  
Other current liabilities  
Tax loss carryforwards  
-0.0  
Net deferred tax asset/(liability)  
98.1  
-2.4  
14.4  
4.9  
-1.5  
-
113.4  
Deferred tax included in assets held for sale  
0.0  
-
-
-
-
-0.0  
-0.0  
NET DEFERRED TAX ASSET/(LIABILITY)
REPORTED IN THE BALANCE SHEET
98.1
-2.4
14.4
4.9
-1.5
-0.0
113.4
Of which:  
Deferred tax recognised in profit or loss  
Deferred tax recognised in equity (OCI)  
34.3  
63.8  
-0.4  
-2.4  
-4.6  
19.0  
0.9  
4.9  
-
-
1.3  
-2.9  
-0.0  
-0.0  
33.5  
79.9  
0.5  
-
-
-
-
Reclassifiable to profit or loss  
p
Not reclassifiable to profit or loss  
(retirement benefit obligations)  
p
64.3  
-
18.0  
-
-2.9  
-
79.4  
6.3.2.  
Deferred tax assets not recognised by the Group  
31/12/2020  
31/12/2019  
(in millions of euros)
Tax losses carried forward  
Temporary differences  
41.3  
-
22.2  
-
TOTAL
41.3
22.2
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
185
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
6.3.3.  
Change in tax loss carryforwards  
France  
United  
Kingdom  
Other  
countries  
Scandinavia  
Spain  
Total  
(in millions of euros)
31 December 2019  
207.4  
28.0  
85.0  
-83.8  
-
5.2  
-
0.0  
-
-
-0.3  
-
12.9  
-
0.6  
-
7.6  
-
0.8  
-
-
-
22.1  
-
20.8  
-1.6  
-
255.2  
28.0  
107.2  
-85.4  
-
Changes in scope  
Created  
Used  
Expired  
Translation adjustments  
Other movements  
-
-
1.0  
22.6  
-2.2  
1.0  
-1.5  
57.5  
34.3  
-0.5  
31 DECEMBER 2020
270.8
5.0
37.2
7.9
40.0
360.9
Deferred tax basis – Activated  
170.1  
-0.0  
0.3  
4.4  
11.3  
186.1  
Deferred tax basis –  
Non-activated  
Deferred tax – Activated  
100.8  
43.9  
26.0  
5.0  
-
0.0  
36.9  
0.1  
8.0  
3.5  
1.1  
0.9  
28.8  
3.3  
6.4  
174.9  
48.3  
41.3  
Deferred tax – Non-activated  
In France, a portion of the non-activated tax losses – €13.0 million  
in deferred taxes (based on a tax rate of 25.83%) – consisted of the  
tax  loss  carryforwards  prior  to  1 January  2014  originating  from  
Steria.  The  authorities’  decision  to  disallow  their  transfer  to  
Sopra Steria is being challenged through litigation.  
In  Scandinavia,  the  tax  loss  carryforwards  of  the  companies  
established in Sweden and Denmark did not lead to the recognition  
of any deferred tax assets.  
Lastly, in Other countries”, tax losses for small companies located  
in  Brazil,  Spain,  Austria  and  several  African  countries  were  not  
activated.  
NOTE 7
COMPONENTS OF THE WORKING CAPITAL REQUIREMENT  
AND OTHER FINANCIAL ASSETS AND LIABILITIES  
These items include non-current financial assets, trade receivables and related accounts, other current assets, other non-current liabilities,  
trade payables and other current liabilities.  
7.1. Other non-current financial assets  
31/12/2020  
31/12/2019  
(in millions of euros)
Non-consolidated securities  
Other loans and receivables  
Derivatives  
19.4  
54.2  
0.3  
19.8  
36.4  
2.2  
TOTAL
74.0
58.3
186  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The  Group  classifies  its  financial  assets  into  the  following  
categories:  
The Group distinguishes between:  
long-term  loans  and  receivables  classified  as  non-current  
financial assets;  
p
assets at fair value through other comprehensive income;  
p
assets at fair value through profit or loss; and  
short-term  trade  receivables  and  other  equivalent  receivables.  
Short-term  trade  receivables  continue  to  be  measured  at  the  
nominal  amount  originally  invoiced,  which  usually  equates  to  
the fair value of the consideration to be received.  
p
p
assets at amortised cost.  
p
Classification depends on the purposes for which financial assets  
were acquired. According to its management model, the Group’s  
management determines the appropriate classification at the time  
of initial recognition and performs a reassessment at each interim  
or annual reporting date.  
c. Assets at fair value through profit or loss  
These  are  non-derivative  financial  assets  which  the  Group  has  
chosen not to measure through other comprehensive income.  
The financial assets recognised by the Group consist of the items  
described below:  
This  category  comprises  financial  assets  held  for  trading  (i.e.  
acquired with a view to resale in the near term). They are mostly  
marketable securities and other cash equivalents.  
a. Assets  at  fair  value  through  other  comprehensive  
income  
Changes in the fair value of assets of this category are recognised  
in profit or loss withinOther financial income and expenses.  
This category includes investments in equity instruments that the  
Group has chosen to irrevocably place in this category.  
d. Impairment of financial assets  
Changes in the fair value of these assets are recognised directly in  
equity and are not reclassifiable to profit or loss. These assets are  
not impaired.  
At  each  balance  sheet  date,  the  Group  assesses  whether  or  not  
there  exists  objective  evidence  that  a  financial  asset  or  group  of  
financial assets may be impaired.  
The  Group  has  included  in  this  category  its  investments  in  
unconsolidated  entities  over  which  it  exercises  no  control  or  
significant influence.  
The  Group  assesses  the  credit  risk  associated  with  loans  and  
receivables  when  they  are  issued.  They  may  be  subsequently  
impaired  if  the  Group  expects  that  their  estimated  recoverable  
amount is less than their net carrying amount.  
b. Assets at amortised cost (loans and receivables)  
For trade receivables, these write-downs are charged to profit or  
loss as part of Operating profit on business activityand reversed in  
the event of an improvement in the recoverable amount. For loans  
and deposits, they are recorded within Other financial income and  
expenses.  
Loans and receivables are non-derivative financial assets with fixed  
or determinable payments that are not quoted in an active market.  
They  comprise  the  financial  assets  arising  when  the  Group  
transfers funds, or provides goods and services, to an individual or  
entity.  Loans  and  receivables  are  initially  recognised  at  fair  value  
and subsequently measured at amortised cost using the effective  
interest method.  
7.1.1.  
Non-consolidated securities  
Carrying  
amount  
Gross value  
Impairment  
(in millions of euros)
31 December 2018  
12.2  
0.0  
0.0  
-
12.2  
0.0  
Changes in scope  
Increases  
Decreases  
Revaluation  
5.1  
0.1  
-0.0  
-
5.0  
-1.6  
-0.1  
4.3  
-1.6  
-0.1  
4.3  
Translation adjustments and other movements  
0.0  
31 December 2019  
19.9  
0.2  
0.2  
0.1  
19.8  
0.1  
Changes in scope  
Increases  
6.5  
2.3  
4.2  
Decreases  
Revaluation  
-4.0  
-0.6  
-0.0  
-0.0  
-0.0  
0.0  
-4.0  
-0.6  
-0.0  
Translation adjustments and other movements  
31 DECEMBER 2020
22.0
2.6
19.4
The most significant component of non-consolidated securities is the shares in CS Communication Systèmes (€9.7 million at 31 December  
2020, compared to €9.9 million at 31 December 2019).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
187
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
7.1.2.  
Other loans and receivables  
31/12/2020  
31/12/2019  
(in millions of euros)
Loans  
0.1  
12.4  
24.0  
21.0  
-3.2  
0.3  
12.4  
10.6  
15.3  
-2.2  
RD tax credit receivables  
Other non-current receivables  
Deposits and other non-current financial assets  
Provisions for loans, deposits and other non-current financial assets  
TOTAL
54.2
36.4
RD tax credit receivables classified as Other loans and receivables  
are  those  which  will  be  used  or  redeemed  after  more  than  
one year.  
Other non-current receivablesinclude €4.9 million in advances paid  
in the United Kingdom by the NHS SBS entity to new customers of  
its  platform  to  facilitate  their  migration,  and  €19.0 million  for  
services  performed  but  not  yet  invoiced  in  Germany  by  Sopra  
Financial Technology GmbH.  
Deposits  and  other  non-current  financial  assets  mainly  include  
security deposits paid for leased premises and receivables relating to  
equity investments.  
These deposits and other receivables are held at their nominal value,  
given that the effect of discounting is not material.  
7.2. Trade receivables and related accounts  
31/12/2020  
31/12/2019  
(in millions of euros)
Trade receivables – Gross value  
Impairment of trade receivables  
629.8  
-22.2  
758.8  
-21.1  
Trade receivables – Net value  
Customer contract assets  
TOTAL
607.6  
346.9  
737.7  
336.6  
954.6
1,074.3
Net trade receivables, expressed in months of revenue, came to less  
than  2 months  of  revenue  at  31 December  2020,  a  slight  
improvement  with  respect  to  31 December  2019.  This ratio  is  
calculated  by  comparing  Net  trade  receivables  with  revenue  
obtained  using  the  countback  method.  Net  trade  receivables  is  
obtained by eliminating VAT from the Trade receivablesbalance and  
subtracting the deferred income balance appearing under liabilities.  
An analysis of credit risk in light of the provisions of IFRS 9 Financial  
Instrumentsdoes not show any material impact.  
Customer  contract  assets  are  described  in  Note 4.1.  Changes  
during the period resulted in part from the appearance of billable  
amounts  transforming  assets  into  trade  receivables,  and  in  part  
from the recognition of revenue leading to the appearanceof new  
customer contract assets.  
7.2.1.  
Aged trade receivables at 31 December 2020  
Of which: Past due, with the following breakdown  
Less  
Of which: Not  
past due at the  
balance  
Carrying  
amount  
than  
Between 30  
and 90 days  
Between 90  
and 120 days  
More than  
120 days  
sheet date  
30 days  
(in millions of euros)
TRADE RECEIVABLES
629.8
467.5
79.9
32.5
8.3
41.6
7.2.2.  
Changes in provisions for trade receivables  
31/12/2020  
31/12/2019  
(in millions of euros)
Impairment of trade receivables at beginning of period  
21.1  
0.6  
17.3  
4.7  
Changes in scope  
Additions net of reversals  
Other movements  
Translation adjustments  
0.3  
0.3  
-0.1  
-1.0  
-0.1  
0.1  
IMPAIRMENT OF TRADE RECEIVABLES AT END OF PERIOD
22.2
21.1
188  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
7.3. Other current assets  
31/12/2020  
31/12/2019  
(in millions of euros)
Inventories and work in progress  
Advances and payments on account  
Staff and social security  
43.8  
3.2  
5.6  
30.4  
6.1  
4.4  
Tax receivables (other than corporate income tax)  
Corporate income tax  
Loans, guarantees and other financial receivables maturing in less than one year  
Other receivables  
Impairment of other receivables  
Prepaid expenses  
Derivatives  
161.1  
85.5  
3.4  
44.9  
-1.0  
62.8  
1.2  
115.5  
106.8  
5.4  
17.9  
-0.9  
56.2  
6.6  
TOTAL
410.6
348.3
Inventories and work in progressessentially result from the costs of  
fulfilling  contracts  (transition  phases  of  third-party  application  
maintenance,  infrastructure  management  and  outsourcing  
contracts;  preparatory  phases  for  licences  in  SaaS  mode),  as  
described in Note 4.1. Their increase results from the signature of  
new contracts.  
Tax receivablesinclude those relating to the CIR (RD tax credit) in  
France.  
7.4. Other non-current liabilities  
31/12/2020  
31/12/2019  
(in millions of euros)
Put options granted  
Other liabilities – Non-current portion  
Derivatives  
84.3  
17.3  
2.4  
77.3  
31.2  
3.7  
TOTAL
104.1
112.2
In the United Kingdom, the put option granted by the Group to the  
Cabinet  Office  for  the  shares  it  holds  in  the  SSCL  joint  venture,  
which  may  be  exercised  between  1 January  2022  and  1 January  
2024,  represented  a  non-current  liability  of  €84.3 million  at  
31 December 2020 (€69.6 million at 31 December 2019).  
31 December 2019. In 2020, it was recognised as a current liability  
(see Note 7.5).  
Finally, other non-current liabilities included a liability related to the  
acquisition  of  an  operating  licence  as  part  of  the  fulfilment  of  a  
contract  in  the  United  Kingdom  with  a  UK  administration,  for  
€0.7 million  (€15.1 million  at  31 December  2019),  and  also,  in  
2020,  funding  requirements  for  the  Group’s  investments  in  
corporate  venture  funds,  for  €11.3 million  (€10.0 million  at  
31 December 2019).  
The Group also entered into an irrevocable commitment to acquire  
the  shares  held  by  minority  shareholders  in  Tecfit   the  holding  
company of Galitt, which was acquired in the second half of 2017 –  
by  way  of  a  put  option  granted  to  these  shareholders.  The  
corresponding  non-current  liability  was  €7.7 million  at  
At  31 December  2020,  Derivatives  consisted  of  interest  rate  and  
foreign currency hedges (see Notes 12.5.3 and 12.5.4).  
Put options granted to non-controlling interests  
When  non-controlling  interests  have  an  option  to  sell  their  
investment to the Group, a financial liability is recorded in other  
non-current  liabilities  for  the  present  value  of  the  option’s  
estimated  exercise  price.  The  offset  of  the  financial  liability  
generated by these commitments is deducted from:  
the Group’s share of consolidated reserves for the remainder.  
p
Subsequent changes in this put option arising from changes in  
estimates  or  relating  to  the  unwinding  of  discount  are  offset  
against  the  corresponding  non-controlling  interests  and  the  
remainder  is  deducted  from  the  Group’s  share  of  consolidated  
reserves.  
the  corresponding  amount  of  non-controlling  interests  
p
initially; and  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
189
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
7.5. Other current liabilities  
31/12/2020  
31/12/2019  
(in millions of euros)
Liabilities on fixed assets – Portion due in less than one year  
Advances and payments on account received for orders  
Employee-relatedliabilities  
Tax liabilities  
Corporate income tax  
Customer contract liabilities  
Other liabilities  
18.1  
22.3  
3.0  
5.5  
445.4  
223.7  
102.2  
328.2  
23.4  
443.8  
239.2  
143.6  
296.6  
88.9  
Derivatives  
3.8  
0.3  
TOTAL
1,167.1
1,220.9
Customer  contract  liabilities  are  described  in  Note 4.1.  Changes  
arose  in  part  from  the  transformation  of  former  liabilities  into  
revenue, and in part from the appearance of new liabilities dueto  
services  that  have  been  invoiced  but  not  yet  performed.  The  
majority  of  these  liabilities  existing  at  31 December  2019  were  
converted into revenue during financial year 2020.  
performance  share  plans  for  €3.5 million  (€16.9 million  at  
31 December 2019). They also include liabilities related to the put  
option granted on their shares to minority shareholders in Tecfit  
(the  holding  company  of  Galitt),  previously  classified  within  
non-current  liabilities  and  exercisable  in  April 2021  for  
€6.1 million.  In  2019,  they  included  the  €42.0 million  option  
granted  to  SAB’s  minority  shareholders,  which  was  exercised  in  
July 2020 for €37.6 million.  
Other liabilities include in particular the Group’s commitment to  
buy  back  its  own  shares  to  be  used  in  connection  with  its  free  
NOTE 8
PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE  
ASSETS  
8.1. Goodwill  
8.1.1.  
Statement of changes in goodwill  
Movements in financial year 2020 were as follows:  
Carrying  
amount  
Gross value  
Impairment  
(in millions of euros)
31 December 2018  
Acquisitions  
1,787.6  
79.1  
1,708.5  
SAB  
59.9  
5.5  
3.7  
1.5  
-1.4  
-
-
-
-
-
-
59.9  
5.5  
3.7  
1.5  
-1.4  
-
p
Sopra Financial Technology GmbH  
NeoSpheres  
Adjustments for business combinations  
Removal from the scope of consolidation  
Impairment  
p
p
-
Translation adjustments  
37.6  
1.4  
36.2  
31 December 2019  
Acquisitions  
1,894.4  
80.5  
1,813.9  
Sodifrance  
cxpartners  
ADN’co  
58.0  
5.8  
2.0  
5.8  
-
-
-
-
-
-
-
58.0  
5.8  
2.0  
5.8  
-
p
p
p
Adjustments for business combinations (SAB)  
Removal from the scope of consolidation  
Impairment  
-
-
Translation adjustments  
-43.8  
-1.5  
-42.3  
31 DECEMBER 2020
1,922.2
79.0
1,843.2
190  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The  €42.3 million  change  in  translation  adjustments  mainly  resulted  from  changes  in  the  value  of  the  euro  against  the  following  
currencies:  
31/12/2020  
31/12/2019  
(in millions of euros)
GBP  
-38.2  
-4.0  
-0.1  
34.6  
0.8  
0.8  
NOK-SEK  
Other currencies  
TOTAL
-42.3
36.2
8.1.2.  
Breakdown of goodwill by cash-generating unit (CGU)  
The net carrying amounts of goodwill by CGU are as follows:  
31/12/2020  
31/12/2019  
(in millions of euros)
France  
558.7  
571.3  
330.9  
366.1  
16.2  
498.7  
598.0  
334.0  
367.0  
16.2  
United Kingdom  
Other Europe (1)  
Sopra Banking Software  
Sopra HR Software  
TOTAL
1,843.2
1,813.9
(1) “Other Europe” comprises the following CGUs, which are tested separately: Germany, Scandinavia, Spain, Italy, Switzerland, Benelux and Sopra Financial Technology.  
For  each  business  combination,  the  Group  may  elect  to  
recognise under its balance sheet assets either partial goodwill  
(corresponding only to its percentage of ownership interest) or  
full  goodwill  (also  including  the  goodwill  corresponding  to  
minority  interests)  according  to  the  method  for  business  
combinations presented in Note 2.1. This decision is made on  
an acquisition-by-acquisition basis.  
Should the calculation of goodwill result in a negative difference  
(bargain  purchase),  the  Group  recognises  the  resulting  gain  
entirely in profit or loss, after reassessing whether all assets and  
liabilities have been correctly identified.  
Goodwill is allocated to cash-generating units for the purposes  
of  impairment  tests  as  set  out  in  Note 8.1.3.  Such  tests  are  
performed when there is an indication of impairment, and in any  
event at the balance sheet date of 31 December.  
8.1.3.  
Impairment testing  
The Group conducted impairment testing at 30 June because it  
deemed  the  consequences  of  the  Covid-19  crisis  constituted  an  
indication  of  impairment.  The  Group  did  not  recognise  any  
impairment as a result of this testing. The Group also performed  
impairment  tests  at  31 December  2020  in  line  with  standard  
practice.  It  began  by  reviewing  its  discount  rate  and  perpetual  
growth rate parameters with respect to 31 December 2019 of the  
previous year. As part of the exercise, it decided not to include an  
additional risk premium related to Covid-19 in calculations of its  
discount rate.  
The tests were thus performed using the following parameters:  
Discount rate  
31/12/2020 31/12/2019  
Perpetual growth rate  
31/12/2020  
31/12/2019  
France  
United Kingdom  
Other Europe  
Sopra Banking Software  
Sopra HR Software  
8.2%  
8.4%  
8.2% to 9.0%  
8.2%  
8.5%  
9.2%  
8.4% to 9.8%  
8.5%  
2.0%  
2.0%  
2.0%  
2.0%  
2.0%  
2.1%  
2.1%  
2.1%  
2.1%  
2.1%  
8.2%  
8.5%  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
191
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The  Group  then  applied  these  parameters  to  its  cash  flow  
projections.  These  projections  factor  in  the  impact  of  the  
coronavirus crisis, including estimates of a return to pre-crisis levels  
of  business  activity  and  profitability,  cash-generating  unit  by  
cash-generating  unit  based  on  the  activities  and  major  contracts  
affected  within  each  one.  These  tests  did  not  lead  to  any  
recognition of impairment.  
rate,  operating  margin  and  revenue  growth  rate)  for  each  
cash-generating unit.  
The Group performed tests using the following assumptions:  
a 2-point increase in the discount rate; or  
p
a 2-point decrease in the perpetual growth rate (i.e.no perpetual  
p
growth); or  
the combination of a 2-point increase in the discount rate and a  
2-point decrease in the perpetual growth rate; or  
p
The  Group  also  tested  1.0-point  changes  in  these  assumptions.  A  
1.0-point  decrease  in  the  perpetual  growth  rate,  a  1.0-point  
increase  in  the  discount  rate,  or  both,  would  not  lead  to  any  
recognition of impairment.  
a 2-point decrease in the projected operating margin; or  
p
a 2-point decrease in the projected growth rate.  
p
Furthermore,  the  Group  also  performed  additional  testing  to  
measure  sensitivity  to  a  decrease  in  the  operating  margin  for  the  
Sopra Banking Software CGU. The Group would need to write down  
the assets of this CGU in the event of a 3.4-point decrease in the  
operating margin, all other things being equal.  
Based on these tests, the Group would be required to write down  
its assets for the “Sopra Banking Software” CGU alone in the event  
of  an  increase  of  more  than  1.6 points  in  the  discount  rate  
combined with a simultaneous 0.5-point decrease in the perpetual  
growth rate, all other things being equal. For the other CGUs, the  
additional tests which were undertaken to measure sensitivity to key  
assumptions would not lead to the recognition of any impairment.  
Finally, additional testing was also performed to measure sensitivity  
to  key  assumptions  (such  as  the  discount  rate,  perpetual  growth  
IAS 36 Impairment of Assets requires that an entityassess at each  
reporting date whether there is any indication that an asset may  
be impaired. If any such indication exists, the entity must estimate  
the asset’s recoverable amount.  
The value in use of a CGU is determined using the discounted cash  
flow (DCF) method:  
cash flows for an explicit forecast period of five years, with the  
p
first year of the period based on the budget;  
Irrespective of whether there is any indication of impairment, an  
entity must also:  
cash flows beyond the five-year explicit period are calculated by  
p
applying a perpetual growth rate to the last cash flow for the  
foreseeable  period,  reflecting  the  anticipated  rate  of  real  
long-term  economic  growth  adjusted  for  long-term  inflation  
forecasts.  
test intangible assets with indefinite useful lives annually;  
p
test  the  impairment  of  goodwill  acquired  in  a  business  
p
combination.  
The  Group  decided  to  include  lease  payments  in  cash  flows  
following the application of IFRS 16 Leasesfrom 1 January 2019.  
In  practice,  impairment  testing  is  above  all  relevant  to  goodwill,  
which  constitutes  the  majority  of  Sopra  Steria  Group’s  
consolidated non-current assets.  
The discount rate is based on the weighted average cost of capital.  
This  is  compared  with  the  estimates  produced  by  financial  
analysts. The final discount rate used for each CGU is derivedfrom  
this comparison and falls between the weighted average cost of  
capital and the average of analyst estimates.  
Impairment  testing  is  performed  at  the  level  of  the  
cash-generating units (CGUs) to which assets are allocated. A CGU  
is  the  smallest  identifiable  group  of  assets  that  generates  cash  
inflows  that  are  largely  independent  of  the  cash  inflows  from  
other assets or groups of assets.  
Perpetual  growth  rates  are  based  on  an  average  of  analyst  
estimates.  
The  Group’s  segmentation  into  CGUs  is  consistent  with  the  
operating  structure  of  its  businesses,  its  management  and  
reporting  system,  and  its  segment  reporting  (see  Note 3).  
Impairment  testing  involves  comparing  CGUs’  carrying  amounts  
with  their  recoverable  amounts.  A  CGU’s  recoverable  amount  is  
the  higher  of  its  fair  value  (generally  market  value)  less  costs  of  
disposal  and  its  value  in  use.  Due  to  the  application  of  IFRS 16  
Leases  starting  1 January  2019,  the  carrying  amount  of  assets  
includes right-of-use assets less lease liabilities.  
Impairment losses are recognised to the extent of any excess of a  
CGU’s carrying amount over its recoverable amount. Impairment  
losses are first allocated against goodwill and are charged to profit  
or loss as part of Other operating income and expenses.  
The  reversal  of  impairment  losses  for  goodwill  arising  on  fully  
consolidated investments is prohibited.  
192  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
8.2. Other intangible assets  
Gross value  
Amortisation  
31/12/2020  
31/12/2019  
(in millions of euros)
Enterprise software/Technology  
Customer relationships  
Favourable contracts  
90.5  
215.5  
0.9  
48.1  
112.4  
0.8  
42.4  
103.2  
0.1  
52.2  
112.2  
0.2  
Brands  
19.0  
335.7  
3.2  
264.3  
15.9  
71.4  
16.8  
91.4  
Software acquired and other intangible assets  
TOTAL
661.7
428.8
232.9
272.9
Other  intangible  assets  comprise  technologies,  customer  
relationships,  favourable  contracts,  order  backlogs  and  brands  
allocated  as  part  of  the  purchase  price  allocation  process  for  a  
business  combination.  Expenses  relating  to  the  amortisation  of  
allocated intangible assets enter into the calculation of Profit from  
recurring operations.  
Changes in Intangible assetsare set out in the table below:  
Carrying  
amount  
Gross value  
Amortisation  
(in millions of euros)
31 December 2018  
498.4  
105.7  
25.6  
5.8  
244.9  
68.2  
-
253.5  
37.4  
25.6  
5.8  
Changes in scope  
Allocated intangible assets  
Acquisitions  
-
Disposals – Scrapping  
Other movements  
Translation adjustments  
Amortisation charge  
-14.2  
-0.2  
12.5  
-
-14.0  
-2.0  
6.6  
-0.3  
1.8  
6.0  
56.9  
-56.9  
31 December 2019  
633.5  
20.8  
18.0  
10.8  
-5.1  
-1.8  
-14.6  
-
360.6  
15.4  
-
272.9  
5.4  
18.0  
10.8  
-0.6  
-0.8  
-5.7  
-67.1  
Changes in scope  
Allocated intangible assets  
Acquisitions  
Disposals – Scrapping  
Other movements  
Translation adjustments  
Amortisation charge  
-
-4.5  
-1.0  
-8.9  
67.1  
31 DECEMBER 2020
661.7
428.8
232.9
Allocated intangible assets recognised in respect of new acquisitions  
during  the  2020 financial  year  are  described  in  Note 2.1.  They  
consisted of €18.0 million in customer relationships related to the  
acquisition of Sodifrance. In 2019, the acquisitions of SAB and SFT  
led to the recognition of €8.4 million in customer relationships and  
€17.2 million in enterprise software.  
Other changes mainly arose from intangible assets acquired as part  
of business combinations carried out in 2020.  
No significant development expenditures for software and solutions  
(Banking, Human Resources and Property Management) have been  
recognised under intangible assets.  
a. Assets acquired separately  
These  are  software  assets,  customer  relationships,  brands  and  
distributor  relationships  measured  at  fair  value  as  part  of  a  
purchase  price  allocation  for  entities  acquired  in  business  
combinations. They are amortised using the straight-line method  
over  three  to  fifteen years,  depending  on  their  estimated  useful  
lives. Acquired brands whose useful lives cannot be estimated are  
not amortised.  
These  are  software  assets  recorded  at  cost.  They  are  amortised  
using the straight-line method over one to ten years, depending  
on their estimated useful lives.  
b. Assets  acquired  in  connection  with  business  
combinations  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
193
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
c. Internally generated assets  
Pursuant to IAS 38 Intangible Assets:  
intent to complete the intangible asset and use or sell it,  
ability to use or sell the intangible asset,  
research  and  development  costs  are  expensed  in  the  year  in  
generation of probable future economic benefits,  
p
which they are incurred;  
availability  of  adequate  technical,  financial  and  other  
resources to complete the development and to use or sell the  
intangible asset,  
software development costs are capitalised if all of the following  
p
can be demonstrated:  
technical feasibility of completing the intangible asset for use  
or sale,  
ability to reliably measure the expenditure attributable to the  
intangible asset during its development.  
8.3. Property, plant and equipment  
Fixtures and  
fittings,  
furniture and  
sundry  
equipment  
Land and  
buildings  
IT equipment  
Total  
(in millions of euros)
Gross value  
31 December 2018  
34.9  
13.1  
0.5  
-0.0  
0.0  
219.8  
20.6  
16.9  
-2.3  
-10.7  
1.2  
162.1  
12.8  
15.6  
-7.9  
-38.1  
2.4  
416.8  
46.4  
33.0  
-10.3  
-48.8  
4.2  
Changes in scope  
Acquisitions  
Disposals – Scrapping  
Other movements  
Translation adjustments  
0.5  
31 December 2019  
49.1  
0.5  
2.1  
-4.8  
0.7  
-1.8  
245.5  
4.4  
12.0  
-6.1  
-0.1  
-2.7  
146.8  
2.3  
13.8  
-3.8  
0.3  
441.3  
7.2  
27.8  
-14.7  
1.0  
Changes in scope  
Acquisitions  
Disposals – Scrapping  
Other movements  
Translation adjustments  
-4.1  
-8.6  
31 DECEMBER 2020
Depreciation  
45.7
253.1
155.2
454.1
31 December 2018  
23.4  
2.9  
2.0  
-0.0  
-0.0  
0.3  
130.4  
13.2  
17.5  
-2.1  
-6.5  
0.7  
118.3  
9.6  
15.9  
-7.8  
-21.7  
1.8  
272.2  
25.7  
35.4  
-9.9  
-28.2  
2.9  
Changes in scope  
Charges  
Disposals – Scrapping  
Other movements  
Translation adjustments  
31 December 2019  
28.6  
0.4  
2.6  
-3.2  
-0.3  
-1.1  
153.2  
2.0  
18.0  
-5.9  
1.0  
116.2  
1.9  
17.5  
-3.5  
-0.5  
-3.2  
298.0  
4.2  
38.1  
-12.6  
0.1  
Changes in scope  
Charges  
Disposals – Scrapping  
Other movements  
Translation adjustments  
-1.9  
-6.2  
31 DECEMBER 2020
Net value  
27.0
166.3
128.3
321.6
31 December 2018  
11.5  
20.4  
89.4  
92.3  
43.8  
30.6  
144.7  
143.4  
31 December 2019  
31 DECEMBER 2020
18.7
86.8
26.9
132.5
The  Group’s  investments  in  property,  plant  and  equipment  
(€27.8 million)  mainly  consisted  of  €6.9 million  for  office  
equipment  in  France  and  abroad  and  €13.8 million  for  IT  
equipment.  
194  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Property,  plant  and  equipment  essentially  consists  of  land  and  
buildings,  fixtures  and  fittings,  office  furniture  and  equipment,  
and IT equipment.  
buildings: 25 to 30 years;  
p
p
p
p
p
fixtures and fittings: 4 to 10 years;  
IT hardware and equipment: 3 to 8 years;  
vehicles: 4 to 5 years;  
Property,  plant  and  equipment  is  measured  at  acquisition  cost  
(excluding  any  borrowing  costs)  less  accumulated  depreciation  
and any impairment losses. No amounts have been remeasured.  
office furniture and equipment: 4 to 10 years.  
Depreciation  is  applied  against  assets’  acquisition  cost  after  
deducting any residual value. Assets’ residual values and expected  
useful lives are reviewed at each balance sheet date.  
Depreciation is calculated using the straight-line method over the  
expected  useful  lives  of  each  of  the  following  fixed  asset  
categories:  
NOTE 9
LEASES  
9.1. Right-of-use assets by category of leased assets  
Other property,  
plant and  
Premises  
Vehicles  
IT equipment  
equipment  
Total  
(in millions of euros)
Gross value  
31 December 2018  
-
523.5  
52.3  
56.5  
-27.6  
-
-
35.7  
0.3  
7.8  
-9.3  
-
-
37.6  
5.6  
7.8  
-11.4  
2.1  
-
600.7  
58.6  
72.2  
-49.0  
2.1  
First-time application of IFRS 16  
Changes in scope  
Acquisitions  
Disposals – Scrapping  
Other movements  
4.0  
0.4  
0.2  
-0.7  
-
Translation adjustments  
4.5  
0.2  
0.1  
0.1  
4.9  
31 December 2019  
609.1  
15.2  
68.0  
-82.6  
-1.2  
34.6  
0.6  
6.8  
-5.6  
0.3  
0.6  
41.8  
-
3.5  
-10.8  
-0.3  
0.3  
4.0  
0.0  
1.4  
-0.6  
-0.1  
-0.1  
689.4  
15.9  
79.7  
-99.7  
-1.2  
Changes in scope  
Acquisitions  
Disposals – Scrapping  
Other movements  
Translation adjustments  
3.1  
3.9  
31 DECEMBER 2020
Depreciation  
611.6
37.3
34.5
4.6
688.0
31 December 2018  
-
256.5  
13.6  
74.4  
-21.2  
-
-
18.1  
0.2  
9.9  
-9.2  
-
-
21.6  
0.2  
10.8  
-11.1  
0.1  
-
1.9  
0.3  
1.2  
-0.7  
-
-
298.1  
14.3  
96.4  
-42.2  
0.1  
First-time application of IFRS 16  
Changes in scope  
Charges  
Disposals – Scrapping  
Other movements  
Translation adjustments  
2.1  
0.1  
0.0  
0.1  
2.3  
31 December 2019  
325.5  
8.4  
86.9  
-68.2  
0.2  
19.0  
0.3  
9.4  
-5.6  
0.1  
-0.1  
21.7  
-
9.2  
-10.1  
-0.0  
-0.1  
2.8  
0.0  
0.9  
-0.5  
-0.0  
-0.1  
369.1  
8.6  
106.4  
-84.4  
0.2  
Changes in scope  
Charges  
Disposals – Scrapping  
Other movements  
Translation adjustments  
-1.9  
-2.3  
31 DECEMBER 2020
Net value  
350.9
23.0
20.6
3.1
397.7
31 December 2018  
-
-
-
-
-
31 December 2019  
283.6  
15.5  
20.1  
1.2  
320.4  
31 DECEMBER 2020
260.7
14.3
13.8
1.5
290.3
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
195
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Leases  
Leases  are  recognised  in  the  balance  sheet  at  the  lease  
commencement  date,  which  corresponds  to  the  date  at  which  
the lessor makes the underlying asset available to the lessee, and  
results  in  the  recognition  of  a  balance  sheet  asset  within  
Right-of-use  assets  and  a  liability  within  Lease  liabilities.  The  
value  of  lease  liabilities  corresponds  to  the  present  value  of  
minimum future payments, discounted over the lease term using  
either  the  interest  rate  implicit  in  the  lease  or  otherwise  the  
incremental  borrowing  rate  of  the  entity  leasing  the  asset.  The  
lease term chiefly reflects the non-cancellable period of the lease.  
The Group may adjust it, where it consider this to be reasonable,  
to reflect the period of a renewal or an extension option, which  
could be exercised, or an early termination option, which could  
be  invoked  where  the  corresponding  penalties  (contractual  
penalties and economic costs of doing so) would be more than  
negligible.  
guarantees,  the  exercise  price  of  a  purchase  option,  and  
termination or non-renewal penalties if the Group is reasonably  
certain to exercise or not exercise these options. Some of these  
values may change over the term of the lease, in which case the  
values  of  lease  liabilities  and  right-of-use  assets  are  revised  
upward  or  downward.  They  do  not  include  any  service  
components that may be included in the lease, which continue  
to be recognised as expenses.  
In  the  balance  sheet,  Lease  liabilities  are  split  out  into  
non-current  and  current  portions.  Right-of-use  assets  are  
amortised  on  a  straight-line  basis  over  the  lease  term  or  the  
useful life of the underlying asset if the lease transfers ownership  
of the asset to the lessee, or if the lessee is reasonably certain of  
exercising  a  purchase  option.  In  the  income  statement,  these  
amortisation  expenses  are  included  within  Depreciation,  
amortisation, provisions and impairment under Operating profit  
on business activity.The Net interest expense on lease liabilitiesis  
split out from the line item Other financial income and expenses.  
At the lease commencement date, the value of the right-of-use  
asset  recognised  in  the  balance  sheet  corresponds  to  the  lease  
liability adjusted for any initial direct costs incurred in obtaining  
the lease, prepaid lease payments, incentives received from the  
lessor  at  that  date,  or  costs  to  be  incurred  by  the  lessee  in  
dismantling and removing the underlying asset.  
Finally,  as  an  exception,  short-term  leases  (lease  term  of  
12 months  or  less)  and  leases  of  low-value  assets  (individual  
value  less  than  5,000  USD)  are  directly  recognised  as  expenses  
and  are  therefore  not  restated  in  the  balance  sheet.  Variable  
lease payments are also recognised as expenses according to the  
use or revenue generated by the use of the underlying asset.  
Minimum future payments include fixed lease payments, variable  
lease payments that depend on an index or a rate, residual value  
9.2. Breakdown of lease liabilities by maturity  
Breakdown of non-current portion  
More  
than  
5 years  
Carrying  
amount  
Non-  
current  
1 to  
2 years  
2 to  
3 years  
3 to  
4 years  
4 to  
5 years  
Current  
(in millions of euros)
LEASE LIABILITIES
317.5
91.3
226.2
61.2
44.5
33.1
26.4
60.9
NOTE 10
EQUITY-ACCOUNTED INVESTMENTS  
10.1. Net profit from associates  
% held at  
31/12/2020  
% held at  
31/12/2019  
31/12/2020  
31/12/2019  
(in millions of euros)
Share of net result of Axway Software  
Share of net result of Holocare  
2.7  
-0.5  
32.38%  
66.67%  
1.8  
-
32.57%  
-
TOTAL
2.3
1.8
196  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
10.2. Carrying amount of investments in associates  
The carrying amount of investments in associates consisted mainly of the value of Axway Software shares. This latter changed as follows:  
Axway Software shares  
Carrying  
amount  
Gross value  
Impairment  
(in millions of euros)
31 December 2018  
195.1  
-
-
-
-
-
-
-
-
-
-
195.1  
-
Changes in scope  
Share capital transactions  
Dividends paid  
-
-
-2.8  
1.8  
0.9  
0.0  
-
-2.8  
1.8  
0.9  
0.0  
-
Net profit  
Translation adjustments  
Changes in shareholding  
Disposal  
Other movements  
0.0  
0.0  
31 December 2019  
195.0  
-
-
-
-
-
-
-
-
-
-
195.0  
-
Changes in scope  
Share capital transactions  
Dividends paid  
0.2  
-
2.7  
-6.6  
-0.7  
-
0.2  
-
2.7  
-6.6  
-0.7  
-
Net profit  
Translation adjustments  
Changes in shareholding  
Disposal  
Other movements  
1.4  
1.4  
31 DECEMBER 2020
192.0
-
192.0
At  31 December  2020,  Sopra Steria  Group  held  a  32.38%  stake,  
versus32.57% at 31 December 2019. This stake does not give the  
Group a controlling interest in this subsidiary and does not allow it  
to  involve  itself  in  the  running  of  business  or  influence  variable  
returns from this subsidiary. As such, the Group exerts a significant  
influence and reviews this situation each financial year. In 2020, no  
events or developments occurred that changed this situation.  
Their recoverable amount is estimated as follows:  
31/12/2020  
31/12/2019  
(in millions of euros)
Market value (Category 1)*  
Market value less costs to sell  
Value in use  
186.7  
182.9  
234.2  
85.7  
84.0  
207.4  
DCF calculation parameters:  
- Discount rate  
- Perpetual growth rate  
8.6%  
2.2%  
9.5%  
2.0%  
p
p
RECOVERABLE AMOUNT
234.2
207.4
(*) Since Axway Software’s shares are listed, their fair (market) value less costs of disposal is equal to market price less costs to sell, which  
constitutes the Level 1 fair value under IFRS.  
Their value in use – the higher of the two values used to determine  
the  recoverable  amount   supports  the  carrying  amount  of  the  
equity-accounted Axway Software shares at 31 December 2020.  
in  the  discount  rate,  nor  a  0.5-point  decrease  in  the  perpetual  
growth rate, nor the combination of these two factors would lead  
to  an  impairment  loss.  This  test  is  based  on  the  judgement  of  
management and was developed within the context of uncertainties  
inherent in the transformation of Axway Software’s business model.  
The  Group  tested  0.5-point  changes  in  its  assumptions,  all  other  
things being equal. Based on this test, neither a 0.5-point increase  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
197
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
SUMMARY FINANCIAL INFORMATION RELATING TO THE AXWAY SOFTWARE GROUP  
31/12/2020  
31/12/2019  
(in millions of euros)
Non-current assets  
Current assets  
Equity  
Non-current liabilities excluding equity  
Current liabilities  
Revenue  
421.7  
137.8  
355.5  
82.6  
121.4  
297.2  
442.7  
126.2  
362.6  
75.7  
130.6  
300.0  
NET PROFIT
8.5
5.4
Recognition and impairment of investments in associates  
must  carry  out  an  impairment  test  consisting  of  comparing  the  
carrying amount of the relevant equity-accounted investment with  
its recoverable amount.  
Investments  in  associates  are  initially  recognised  at  acquisition  
cost,  and  their  value  is  then  adjusted  to  reflect  changes  in  the  
Group’s  share  of  their  net  assets.  The  remainder  of  this  share  
appears under Equity-accounted investments on the asset side of  
the balance sheet. Its change over the financial year is recognised  
in profit or loss within Net profit from associates.  
Under  IAS 36,  the  recoverable  amount  of  an  investment  in  an  
associate is the higher of its value in use, calculated on the basis of  
future cash flows, and the fair value of the investment less costs of  
disposal. Where an associate’s shares are listed, fair value less costs  
of disposal is equal to market price less costs to sell: in the absence  
of any firm sale agreement, this is the price at which the shares are  
currently trading.  
Equity-accounted  shares  in  a  company  constitute  a  single  asset  
and  must  be  tested  for  impairment  in  accordance  with  IAS 36  
Impairment of Assets.  
Any  impairment  losses  are  charged  to  profit  or  loss  as  Other  
operating income and expenses.  
Goodwill  on  associates  is  included  in  the  value  of  
equity-accounted  investments,  the  value  of  which  is  measured  
inclusive of goodwill. As such, goodwill on associates mustnot be  
tested for impairment separately.  
Where there is an improvement in the recoverable amount of an  
equity-accounted  investment  such  that  the  impairment  loss  may  
be written back, the full amount of the impairment loss, including  
the portion relating to goodwill, must be written back.  
At  each  balance  sheet  date,  where  there  is  an  indication  of  
impairment of an investment in an associate, the parent company  
NOTE 11
PROVISIONS AND CONTINGENT LIABILITIES  
11.1. Current and non-current provisions  
Reversals  
Non-  
current  
portion  
Changes  
in scope  
Reversals  
(used)  
(not  
Translation  
adjustments  
Current  
portion  
(in millions of euros)
01/01/2020  
Charges  
used)  
Other  
31/12/2020  
Disputes  
Losses on contracts  
4.1  
0.6  
2.5  
-
1.8  
0.7  
-0.5  
-1.9  
-0.3  
-
1.9  
2.6  
-0.0  
-0.1  
9.5  
1.9  
7.0  
1.2  
2.5  
0.7  
Tax risks other than  
income tax  
Restructuring  
40.8  
4.0  
0.9  
-
-
-
-4.7  
-0.4  
-
-
-
37.0  
8.2  
37.0  
2.2  
-
8.4  
-3.8  
-0.0  
6.0  
Cost of renovating  
premises  
Other contingencies  
8.8  
18.6  
-
2.8  
14.5  
-0.3  
-1.8  
-1.3  
-2.0  
3.0  
-5.9  
-0.4  
-0.7  
12.6  
46.8  
10.2  
31.8  
2.4  
15.0  
24.0  
TOTAL
77.0
27.4
28.3
-8.4
-8.7
1.6
-1.1
116.0
89.4
26.6
198  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Provisions  for  disputes  mainly  cover  disputes  before  employment  
tribunals and end-of-contract bonuses for employees (€4.6 million  
at 31 December 2020, versus€3.1 million at 31 December 2019).  
The  remainder  corresponds  to  customer  disputes,  primarily  in  
France.  
Provisions  for  restructuring  correspond  to  the  cost  of  one-off  
restructuring  measures,  mainly  in  Germany  (€5.7 million)  and  
France (€1.4 million).  
Other  provisions  for  contingencies  mainly  cover  risks  relating  to  
clients  and  projects  (€36.3 million,  including  €2.4 million  in  
France,  €4.4 million  in  the  United  Kingdom,  €3.7 million  in  
Germany  and  €23.5 million  for  Sopra  Banking  Software  from  the  
acquisition of Fidor Solutions), contractual risks (€3.7 million) and  
employee-related risks (€4.1 million).  
Provisions for tax risks other than income tax mainly concern risks  
relating to the RD tax credit in France.  
Present  obligations  resulting  from  past  events  involving  third  
parties are recognised in provisions only when it is probable that  
such obligations will give rise to an outflow of resources to third  
parties  without  consideration  from  said  parties  that  is  at  least  
equivalent,  and  if  the  outflow  of  resources  can  be  reliably  
measured.  
detailed  plan  presented  or  the  plan  implementation  has  
commenced. This cost mainly corresponds to severance payments,  
early  retirement,  costs  related  to  notice  periods  not  worked,  
training costs for departing employees and other costs relating to  
site  closures.  A  provision  is  recognised  for  the  rent  and  related  
costs to be paid, net of estimated subleasing income, in respect of  
any property if the asset is subleased or vacant and is not intended  
to be used in connection with main activities.  
Since provisions are estimated based on future risks and expenses,  
such  amounts  include  an  element  of  uncertainty  and  may  be  
adjusted  in  subsequent  periods.  The  impact  of  discounting  
provisions is taken into account if significant.  
Scrapped  assets  and  impairment  of  inventories  and  other  assets  
directly related to the restructuring measures are also recognised  
in restructuring costs.  
In the specific case of restructuring, an obligation is recognised as  
soon  as  the  restructuring  has  been  publicly  announced  and  a  
11.2. Contingent liabilities  
The contingent liabilities recognised arose as a result of the Sopra-Steria business combination in 2014 and the acquisition of Sodifrance  
in 2020.  
At 31 December 2020, they totalled €6.9 million after tax, including €6.0 million corresponding to tax and contractual risks in India.  
To the extent that a liability is not probable or may not be reliably estimated, a contingent liability is disclosed by the Group among its  
commitments given. By exception, in connection with business combinations, the Group may recognise a contingent liabilityon the balance  
sheet if it results from a present obligation arising from past events and its fair value can be reliably estimated, even where it is not probable  
that an outflow of resources will be necessary to extinguish the obligation.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
199
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 12
FINANCING AND FINANCIAL RISK MANAGEMENT  
12.1. Financial income and expenses  
12.1.1. Cost of net financial debt  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Interest income  
1.4  
2.7  
Income from cash and cash equivalents  
1.4  
-10.4  
-0.9  
2.7  
-11.4  
-1.2  
Interest expenses  
Gains and losses on hedges of gross financial debt  
Cost of gross financial debt  
-11.3  
-12.6  
COST OF NET FINANCIAL DEBT
-9.9
-9.9
The  €1.3 million  decrease  in  interest  income  resulted  from  the  
lower  average  balance  of  investments  in  India  (€29.7 million  in  
2020,  versus  €37.1 million  in  2019)  and  from  the  lower  rate  of  
returns (3.8% in 2020 versus6.2% in 2019).  
Medium-Term  Notes)  was  €691 million  in  2020,  versus  
€828 million in 2019. The average cost of borrowing after hedging  
was 1.64% in 2020 (1.52% in 2019). This increase in the average  
cost of borrowing resulted in part from the decrease in the amount  
of  NEU  CP  and  new  issues  of  NEU  MTN,  as  well  as  from  the  
combined  decrease  in  the  interest  rates  and  balance  on  the  
syndicated loan.  
The  Cost  of  gross  financial  debt  (€11.3 million)  was  down  by  
€1.3 million. The average amount of debt outstanding in respect  
of  bank  borrowings,  bonds,  NEU  CP  (Negotiable  European  
Commercial  Paper)  and  NEU  MTN  (Negotiable  European  
12.1.2. Other financial income and expenses  
Financial year 2020  
Financial year 2019  
(in millions of euros)
Foreign exchange gains and losses  
Other financial income  
0.5  
0.1  
0.6  
-7.6  
-4.2  
-0.9  
0.7  
0.9  
-9.9  
-6.9  
-0.9  
-0.0  
2.7  
Net interest expense on lease liabilities  
Net interest expense on retirement benefit obligations  
Expense on unwinding of discounted non-current liabilities  
Change in the value of derivatives  
Gain or loss on disposal of financial assets  
Other financial expenses  
0.0  
-4.4  
-0.5  
Total other financial expenses  
-16.4  
-15.7  
TOTAL OTHER FINANCIAL INCOME AND EXPENSES
-15.4
-14.7
Other financial expenses include the impairment of securities for €3.3 million.  
200  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
12.2. Cash and cash equivalents  
31/12/2020  
31/12/2019  
(in millions of euros)
Short-term investment securities  
Cash and cash equivalents  
39.4  
206.1  
23.5  
174.0  
Cash and cash equivalents  
245.5  
197.5  
Current bank overdrafts  
-0.6  
-4.9  
NET CASH IN THE CASH FLOW STATEMENT
245.0
192.6
Net cash and cash equivalents include available liquid funds (cash at  
bank  and  in  hand),  liquid  marketable  securities  that  meet  the  
definition  of  cash  equivalents,  bills  of  exchange  presented  for  
collection  and  falling  due  before  the  balance  sheet  date,  and  
temporary bank overdrafts.  
the  liquidity  agreement.  The  risk  of  a  change  in  value  on  these  
investments is negligible.  
Of  the  €245.5 million  in  cash  and  cash  equivalents  (excluding  
current bank overdrafts) at 31 December 2020, €148.7 million was  
held by the parent company and €96.8 million by the subsidiaries.  
Among the subsidiaries, entities in India contributed €41.5 million  
to  net  cash  and  cash  equivalents  at  31 December  2020  (versus  
€27.1 million at 31 December 2019).  
Net debt, as presented in Note 12.3, is more representative of the  
Group’s financial position.  
Marketable  securities  and  other  short-term  investments  include  
money-market  holdings,  short-term  deposits  and  advances  under  
Cash and cash equivalents comprise cash, bank demand deposits,  
other highly liquid investments with maturities not exceeding three  
months,  and  bank  overdrafts.  Bank  overdrafts  are  included  in  
current liabilities as part of Financial debt – Short-term portion.  
UCITS classified by the AMF (France’s financial markets regulator)  
as belonging to the “money market fund” and “short-term money  
market fund categories are, for practical purposes, presumed to  
automatically  meet  all  four  quoted  eligibility  criteria.  Other  cash  
UCITS cannot be presumed to be eligible for classification as “cash  
equivalents”: an analysis must be carried out to establish whether  
or not the four quoted criteria are met.  
Cash  equivalents  are  defined  as  short-term,  highly  liquid  
investments  that  are  readily  convertible  to  known  amounts  of  
cash,  and  that  are  subject  to  an  insignificant  risk  of  changes  in  
value, with the exception of foreign exchange impacts.  
Cash equivalents are recognised at fair value; changes in fair value  
are charged to profit or loss under Cost of net financial debt.  
12.3. Financial debt – Net financial debt  
Current  
Non-current  
31/12/2020  
31/12/2019  
(in millions of euros)
Bonds  
2.3  
11.9  
91.8  
0.6  
249.4  
185.1  
130.0  
-
251.7  
197.0  
221.8  
0.6  
251.6  
223.5  
231.4  
4.9  
Bank borrowings  
Other sundry financial debt  
Current bank overdrafts  
FINANCIAL DEBT  
106.6  
-39.4  
-206.1  
564.5  
671.2  
-39.4  
-206.1  
711.4  
-23.5  
-174.0  
Short-term investment securities  
Cash and cash equivalents  
-
-
NET FINANCIAL DEBT
-138.9
564.5
425.6
513.9
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
201
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Financial debt essentially comprises the following:  
NEU  MTN  medium-term  negotiable  securities,  which  have  
maturities spread over one to five years from issuance, and are  
recognised at amortised cost;  
p
p
bond  debt  and  bank  borrowings,  initially  recognised  at  fair  
p
value  net  of  transaction  costs  incurred.  Borrowings  are  
subsequently  recognised  at  amortised  cost;  any  difference  
between  the  capital  amounts  borrowed  (net  of  transaction  
costs) and the amounts repayable is recognised in profit or loss  
over the duration of the borrowings using the effective interest  
method;  
current bank overdrafts.  
Financial debt repayable within 12 months of the balance sheet  
date is classified as current liabilities.  
NEU CP short-term negotiable securities, which have a maturity  
p
of less than 12 months and are recognised at amortised cost;  
12.3.1. Bonds  
12.3.3. Other financial debt  
On  5 July  2019,  the  Group  issued  a  €250 million  bond  to  
top-ranking  institutional  investors.  The  bond  has  two  tranches:  a  
7-year €130 million bond with a fixed annual coupon of 1.749%,  
and an 8-year €120 million tranche with a fixed annual coupon of  
2.0%.  
In  2015,  the  Group  arranged  an  unrated  multi-currency  NEU CP  
programme  of  short-term  negotiable  securities  that  was  not  
underwritten,  in  a  maximum  amount  of  €700 million.  This  
programme is presented in documentation available on the Banque  
de France website, which was last updated on 30 June 2020. The  
average  amount  outstanding  under  the  NEU CP  programme  was  
€110.1 million in 2020, compared with €268.2 million in 2019.  
12.3.2. Bank borrowings  
In 2014, the Group took out a €1,200 million five-year borrowing  
facility  with  two options  to  extend  the  expiry  date  by  one year.  
This facility  comprised  a  €200 million  amortising  tranche,  an  
£80 million amortising tranche and a €900 million multi-currency  
revolving credit line. In 2018, following the exercise of the second  
one-year extension option, the expiry date was postponed to 6 July  
2023.  At  31 December  2020,  the  outstanding  amount  drawn  on  
the  loan  was  from  the  two amortising  tranches  (€96 million  and  
£38.4 million  after  contractual  amortisations  for  the  period).  The  
€900 million multi-currency revolving credit facility is undrawn. In  
addition,  the  Group  also  has  two  non-amortising  bilateral  bank  
facilities:  one  drawn  to  €60 million  and  the  other  undrawn  for  
€50 million, both maturing in 2024.  
The  outstanding  amount  under  the  NEU  CP  programme  at  
31 December  2020  was  €65.0 million  (€120.0 million  at  
31 December  2019).  The  NEU CPs  are  included  in  Other  sundry  
financial debt.  
In December 2017, as part of its efforts to diversify its borrowings,  
the  Group  arranged  an  NEU MTN  programme  of  medium-term  
negotiable  securities  that  was  not  underwritten,  with  a  maximum  
amount  of  €300 million.  As  was  the  case  for  the  earlier  NEU  CP  
programme,  the  NEU  MTN  programme  is  presented  in  
documentation available on the Banque de France website. The NEU  
MTN programme pays fixed or floating rates, with a spread at each  
issue  date,  and  maturities  range  from  one  to  five  years.  At  
31 December 2020, the outstanding amount under the NEU MTN  
programme  was  €144.0 million,  with  maturities  of  up  to  three  
years (€99.0 million at 31 December 2019). The net increase in the  
amount  of  NEU  MTN  corresponded  to  €65 million  in  matured  
securities  and  €110 million  in  new  issues.  The  NEU MTNs  are  
included in Other sundry financial debt.  
202  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
12.4. Derivatives reported in the balance sheet  
31/12/2020  
Breakdown by class of financial instrument  
Assets and  
liabilities at  
fair value  
through  
profit or  
loss  
Financial  
assets at  
fair value  
through  
OCI  
Financial  
liabilities  
at  
Other items  
not  
considered  
as financial  
instruments  
Loans,  
receivables  
and other  
debt  
Carrying  
amount  
Fair  
value  
amortised  
(in millions of euros)
cost Derivatives  
Non-current financial assets  
74.0  
74.0  
-
19.4  
54.2  
-
0.3  
-
Trade receivables and related  
accounts  
Other current assets  
954.6  
410.6  
245.5  
954.6  
410.6  
245.5  
-
-
-
-
-
954.6  
323.9  
-
-
-
-
-
1.2  
-
-
85.5  
-
Cash and cash equivalents  
245.5  
FINANCIAL ASSETS
1,684.6
1,684.6
245.5
19.4
1,332.7
-
1.5
85.5
Financial debt – Long-term  
portion  
Other non-current liabilities  
564.5  
104.1  
564.5  
104.1  
-
-
-
-
-
564.5  
-
-
-
-
101.7  
2.4  
Financial debt – Short-term  
portion  
106.6  
106.6  
-
-
-
106.6  
-
-
Trade payables and related  
accounts  
Other current liabilities  
278.6  
1,167.1  
278.6  
1,167.1  
-
-
-
-
278.6  
1,061.0  
-
-
-
-
3.8  
102.2  
FINANCIAL LIABILITIES
2,221.0
2,221.0
-
-
1,441.3
671.2
6.2
102.2
Items measured at fair value through profit or loss, and derivative  
hedging instruments, are valued by reference to quoted interbank  
interest  rates  (such  as  Euribor)  and  to  foreign  exchange  rates  set  
daily by the European Central Bank. All financial instruments in this  
category  are  financial  assets  and  liabilities  classified  as  such  upon  
first recognition.  
through  the  use  of  derivatives,  including  exchange-traded  futures  
and  options  as  well  as  over-the-counter  instruments  with  top-tier  
counterparties, as part of its overall risk management policy and due  
to the substantial scale of its production activities in India, Poland  
and Tunisia.  
Derivatives are recognised at fair value in the consolidated balance  
sheet.  
Financial  debt  is  recognised  at  amortised  cost  using  the  effective  
interest  rate.  Hedging  instruments  may  be  put  in  place  to  hedge  
against  fluctuations  in  interest  rates  by  swapping  part  of  the  
Group’s floating-rate debt for fixed-rate debt.  
Changes  in  the  fair  value  of  derivatives  not  qualifying  for  hedge  
accounting are recognised directly in profit or loss for the period.  
Income tax receivables and payables are not financial instruments.  
The  Group  has  entered  into  and  continues  to  implement  
transactions designed to hedge its exposure to foreign currency risk  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
203
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The profit and loss impact of these financial instruments is as follows:  
31/12/2020  
Breakdown by category of instrument  
Fair value  
through  
profit or  
Financial  
assets at  
fair value  
Loans,  
receivables  
and other  
debt  
Liabilities at  
amortised  
cost  
Profit or  
loss impact  
loss through OCI  
Derivatives  
(in millions of euros)
Total interest income  
Total interest expense  
Remeasurement  
1.4  
-10.4  
-0.9  
-
-
-
1.4  
-
-
-
-
-
-
-10.4  
-
-
-
-0.9  
NET GAINS OR LOSSES
-9.9
-
1.4
-
-10.4
-0.9
The Group uses derivatives such as currency forwards, swaps and  
options to hedge its exposure to interest rate risk and fluctuations  
in foreign currencies. Derivatives are recognised at fair value.  
purchase  or  sale  for  hedges  of  commercial  risk.  Fair  value  gains  
and  losses  on  the  hedged  item  attributable  to  the  hedged  risk  
adjust  the  carrying  amount  of  the  hedged  item  and  are  also  
recognised in profit or loss.  
Any  gains  or  losses  resulting  from  fair  value  movements  in  
derivatives not designated as hedging instruments are recognised  
directly in profit or loss as Other financial income and expenses.  
b. Cash flow hedges  
The  gain  or  loss  corresponding  to  the  effective  portion  of  the  
hedging  instrument  is  recognised  directly  in  equity,  while  the  
ineffective  portion  is  taken  to  profit  or  loss,  in  Other  financial  
income and expenses.  
The  fair  value  of  currency  forwards  is  calculated  by  reference  to  
current rates for contracts with similar maturity profiles. The fair  
value  of  interest  rate  swaps  is  determined  by  reference  to  the  
market value of similar instruments.  
Gains and losses recognised directly in equity are released to profit  
or  loss  under  Other  comprehensive  income  in  the  period  during  
which the hedged transaction impacts profit or loss.  
For hedge accounting purposes, hedges are classified as either:  
fair value hedges, which hedge exposure to changes inthe fair  
p
value  of  a  recognised  asset  or  liability  or  a  firm  commitment  
(except foreign currency risk);  
If  the  Group  does  not  expect  the  realisation  of  the  forecast  
transaction  or  commitment,  the  gains  and  losses  previously  
recognised directly in equity will be released to profit or loss. If the  
hedging instrument matures, is sold, cancelled or exercised and is  
not  replaced  or  renewed  or  if  its  designation  as  a  hedging  
instrument is revoked, amounts previously recognised in equity will  
be  held  in  equity  until  realisation  of  the  forecast  transaction  or  
firm commitment.  
cash flow hedges, which hedge exposure to fluctuations incash  
p
flows  attributable  either  to  a  specific  risk  associated  with  a  
recognised  asset  or  liability  or  a  highly  probable  future  
transaction or foreign currency risk on a firm commitment;  
hedges of a net investment in a foreign operation.  
p
Hedging  instruments  that  satisfy  hedge  accounting  criteria  are  
recognised as follows:  
c. Hedges of a net investment  
Hedges  of  a  net  investment  in  a  foreign  operation,  including  
hedges of monetary items recognised as part of a net investment,  
are recognised in Other comprehensive income.  
a. Fair value hedges  
Changes in the fair value of a derivative designated as a fair value  
hedge  are  recognised  in  profit  or  loss  (Other  current  operating  
income  and  expenses  or  Other  financial  income  and  expenses  
according to the type of hedged item). The ineffective portion of  
the hedges is recognised in profit or loss as part of Other financial  
income  or  Other  financial  expenses,  either  over  the  term  of  the  
instrument  for  financial  hedges,  or  at  the  date  of  the  hedged  
The  gain  or  loss  corresponding  to  the  effective  portion  of  the  
hedging  instrument  is  recognised  directly  in  equity,  while  the  
ineffective portion is taken to profit or loss.  
On  the  disposal  of  the  foreign  operation,  cumulative  gains  and  
losses recognised directly in equity are released to profit or loss.  
204  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
12.5. Financial risk management  
12.5.1. Liquidity risk  
The  Group  aims  to  diversify  its  borrowings.  It  launched  a  
€300 million  NEU  MTN  programme  in  December 2017  to  
supplement  its  €700 million  NEU  CP  programme.  In  addition,  
fixed-rate  bilateral  credit  lines  were  in  place  for  a  total  of  
€110 million,  with  maturities  in  2024.  At  31 December  2020,  
bilateral  credit  lines  were  drawn  down  in  the  amount  of  
€60 million.  
The Group’s policy is to have borrowing facilities at its disposal that  
are  much  larger  than  its  needs  and  to  manage  cash  centrally  at  
Group  level  where  permitted  by  local  law.  Moreover,  subsidiaries’  
cash  surpluses  or  borrowing  requirements  are  managed  centrally,  
being invested or met by the Sopra Steria Group parent company,  
which carries the bulk of the Group’s borrowings and bank credit  
lines.  
At  31 December  2020,  the  Group  had  lines  of  credit  totalling  
€1,573 million, 29% of which was drawn down.  
In  2020,  the  Covid-19  crisis  did  not  have  any  significant  
consequences on the Group’s liquidity given the financing already in  
place  and  the  cash  generation  during  the  period.  The  Group  
renewed  €65 million  in  NEU  MTN  maturing  January 2020,  
refinancing  them  in  the  amount  of  €110 million  and  was  not  
significantly impacted by the temporary closure in April 2020 of the  
NEU CP market for non-rated borrowers.  
Undrawn  available  credit  lines  amounted  to  €950 million  
(€900 million  in  RCFs  and  €50 million  in  bilateral  credit  lines),  in  
addition  to  undrawn  overdraft  facilities  for  €161 million.  Aside  
from  the  syndicated  loan,  bilateral  credit  lines  and  bonds,  the  
Group’s  financing  essentially  consists  of  issues  under  NEU  CP  
(short-term  commercial  paper)  and  NEU  MTN  programmes.  These  
lines of credit break down as shown below:  
Amount authorised  
at 31/12/2020  
Drawdown Drawdown  
at 31/12/2020 rate  
Repayment  
terms  
Interest rate  
at 31/12/2020  
€m  
£m  
€m  
£m  
Available lines of credit  
At maturity  
€130m 07/2026  
Bond  
Syndicated loan  
250.0  
96.0  
-
250.0  
96.0  
-
100% €120m 07/2027  
1.87%  
Amortising  
until 2023  
Amortising  
until 2023  
Tranche A  
-
-
100%  
100%  
0.90%  
0.93%  
p
Tranche B  
38.4  
38.4  
p
Multi-currency revolving credit  
facility  
Bilateral credit lines  
Other  
At maturity  
07/2023  
900.0  
110.0  
12.9  
-
60.0  
12.9  
0.5  
-
0%  
55%  
100%  
0%  
2024  
2021  
N/A  
0.40%  
0.00%  
0.57%  
-
-
-
-
Overdraft  
161.5  
Total lines of credit authorised  
per currency  
1,530.4  
38.4  
419.4  
38.4  
38.4  
TOTAL LINES OF CREDIT
AUTHORISED (€ EQUIVALENT)
1573.1
462.1
29%
1.34%
Other types of financing used  
NEU CP  NEU MTN  
Other  
N/A  
N/A  
209.0  
0.1  
N/A  
N/A  
2021 to 2023  
0.10%  
N/A  
Total financing per currency  
628.4  
TOTAL FINANCING (€
EQUIVALENT)
671.2
0.95%
Interest  rates  payable  on  the  syndicated  loan  equal  the  interbank  
rate of the currency concerned at the time of drawdown (minimum  
0%),  plus  a  margin  set  for  a  period  of  six months  based  on  the  
leverage ratio.  
the first – known as the leverage ratio – is equal to net financial  
debt divided by pro formaEBITDA;  
p
p
the second  known as the interest coverage ratio  is equal to  
pro formaEBITDA divided by the cost of net financial debt.  
The  €250 million  bond  issued  on  5 July  2019  has  an  effective  
interest  rate  of  1.749%  for  the  €130 million  tranche  and  2%  for  
the €120 million tranche.  
The first financial ratio must not exceed 3.0 at any reporting date.  
The second ratio must not fall below 5.0.  
Net financial debt is defined on a consolidated basis as all loans and  
related  borrowings  (excluding  intercompany  liabilities  and  lease  
liabilities), less available cash and cash equivalents.  
The  syndicated  loan  and  bond  issue  are  subject  to  terms  and  
conditions, which include financial covenants.  
Two  financial  ratios  are  calculated  every  six months  using  the  
consolidated financial statements on a 12-month rolling basis:  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
205
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Pro  forma  EBITDA  is  consolidated  operating  profit  on  business  
activity  adding  back  depreciation,  amortisation  and  provisions  
included in operating profit on business activity before the impact  
of IFRS 16 Leases(see Note 1.5.1). It is calculated on a 12-month  
rolling basis and is therefore restated so as to be presented in the  
financial statements at constant scope over 12 months.  
At 31 December 2020, the net financial debt/pro formaEBITDA ratio covenant was met, with the ratio coming in at 1.12 compared with a  
covenant of 3.0. It is calculated as follows:  
31/12/2020  
31/12/2019  
(in millions of euros)
Short-term borrowings ( 1 year)  
Long-term borrowings ( 1 year)  
Cash and cash equivalents  
106.6  
564.5  
-245.5  
-
217.1  
494.4  
-197.5  
-
Other financial guarantees  
Net financial debt (including financial guarantees)  
Pro formaEBITDA  
425.6  
379.4  
513.9  
408.3  
NET FINANCIAL DEBT/PRO FORMA EBITDA RATIO
1.12
1.26
For the second ratio, pro formaEBITDA is as defined above and the cost of net financial debt is also calculated on a rolling 12-month basis.  
At 31 December 2020, the “Pro formaEBITDA/Cost of net financial debt” covenant – requiring a ratio of at least 5.0 – was met, with the  
ratio coming in at 38.27. It is calculated as follows:  
31/12/2020  
31/12/2019  
(in millions of euros)
Pro formaEBITDA  
379.4  
9.9  
408.3  
9.9  
Cost of net financial debt  
PRO FORMA EBITDA/COST OF NET FINANCIAL DEBT RATIO
38.27
41.35
In  addition  to  satisfying  the  financial  ratio  prerequisites  described  
above, the Group’s two main financing agreements also contain:  
early repayment if all or a substantial number of the Company’s  
assets are sold;  
p
p
p
p
certain performance requirements that are entirely customary for  
repayment  using  proceeds  from  asset  disposals  (beyond  a  
specified threshold);  
p
this type of financing;  
clauses  relating  to  events  of  default  such  as  payment  default,  
repayment of a sum equal to each new borrowing taken out by  
the Company (beyond a specified threshold);  
p
inaccurate  tax  returns,  cross-default,  bankruptcy,  or  the  
occurrence of an event having a material adverse effect;  
renegotiation of the financing terms and conditions in the event  
of financial market disruption (i.e.market disruption clause). This  
clause  is  only  applicable  if  a  minimum  number  of  banks  are  
unable to obtain refinancing on the capital market at the dateon  
which the financing is requested, given interest rate fluctuations.  
The purpose of this clause is to find a replacement rate.  
clauses stipulating early repayment in full in the event that there  
p
is a change of control in ownership of the Company.  
The bank loan agreement also stipulates a number of circumstances  
in which the loan must be repaid in advance, in full or in part as  
applicable, or renegotiated with the banks:  
At 31 December 2020, the maturity schedule for the Group’s financial debt was as follows:  
Total  
contractual  
flows  
Less  
than  
1 year  
More  
than  
5 years  
Carrying  
amount  
1 to  
2 years  
2 to  
3 years  
3 to  
4 years  
4 to  
5 years  
(in millions of euros)
Bond  
Bank borrowings  
NEU CP MTN  
Other sundry financial debt  
Current bank overdrafts  
251.7  
197.0  
209.0  
12.8  
277.7  
205.7  
210.3  
12.9  
4.6  
14.6  
79.4  
12.9  
0.6  
4.6  
14.1  
70.5  
-
4.6  
117.0  
60.4  
4.6  
60.0  
4.6  
254.8  
-
-
-
-
-
-
-
-
-
-
-
-
-
0.6  
0.6  
-
Financial debt  
671.2  
-39.4  
-206.1  
707.2  
-39.4  
-206.1  
112.0  
-39.4  
-206.1  
89.2  
182.0  
64.6  
4.6  
-
-
254.8  
Short-term investment securities  
Cash and cash equivalents  
-
-
-
-
-
-
-
-
CONSOLIDATEDNET
FINANCIAL DEBT
425.6
461.7
-133.5
89.2
182.0
64.6
4.6
254.8
206  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
At 31 December 2020, the Group’s gross borrowings broke down as follows by type of debt and currency:  
Currency of origin  
Pound sterling  
Euro  
Other  
Total  
(in millions of euros)
Bond  
Bank borrowings  
Short-term bank borrowings ( 1 year)  
NEU CP (commercial paper)  MTN  
Other sundry financial debt  
Bank overdrafts (cash liabilities)  
251.7  
146.1  
8.4  
209.0  
12.8  
0.5  
-
-
-
-
-
-
-
251.7  
185.1  
11.9  
209.0  
12.8  
0.5  
39.0  
3.6  
-
-
-
GROSS FINANCIAL DEBT
628.5
42.6
-
671.2
At 31 December 2020, the Group’s portfolio of investment securities broke down as follows:  
Advances under the liquidity  
Total portfolio  
of investment securities  
Short-term investments  
agreement  
(in millions of euros)
Net asset value  
NET POSITION
39.3  
2.0  
41.2  
39.3
2.0
41.2
Short-term  investments  are  managed  by  the  Group’s  Finance  
Department,  and  comply  with  internally  defined  principles  
of prudence.  
Thanks to these various measures, the Group considers that it has  
implemented  a  system  that  significantly  reduces  its  bank  
counterparty  risk  in  the  current  economic  context.  However,  the  
Group  remains  subject  to  a  residual  risk  which  may  affect  its  
performance under certain conditions.  
At  constant  exchange  rates  relative  to  31 December  2020,  and  
taking  into  account  short-term  investments  held  at  that  date,  a  
50-basis-point  decrease  in  floating  rates  would  reduce  annual  
financial income by €0.2 million.  
12.5.3. Interest rate risk  
The Group’s aim is to protect itself against interest rate fluctuations  
by hedging part of its floating-rate debt and investing its cash over  
periods of less than three months.  
12.5.2. Bank counterparty risk  
All foreign currency and interest rate hedges are put in place with  
leading  banks  belonging  to  the  Group’s  banking  syndicate,  with  
which market transaction agreements have been signed.  
The  derivatives  used  to  hedge  the  debt  are  interest  rate  swap  
contracts or options, which may or may not be eligible for hedge  
accounting.  
The  majority  of  the  Group’s  financial  investments  relate  to  the  
subsidiaries in India and the Sopra Steria Group parent company.  
Financial  investments  are  carried  out  either  via  short-term  bank  
deposits with banks mainly belonging to the banking syndicate, or  
via  money-market  instruments  managed  by  leading  financial  
institutions,  which  are  themselves  subsidiaries  of  banks  mainly  
belonging  to  the  syndicate.  These  investments  are  subject  to  
approval  by  the  Group,  and  comply  with  internally  defined  
principles of prudence.  
The eligible counterparties for interest rate hedging and investments  
are leading financial institutions which belong to the Sopra Steria  
banking syndicate. These financial instruments are managed by the  
Group’s Finance Department.  
All  of  the  Group’s  interest  rate  hedges  have  been  put  in  place  
through the parent company (Sopra Steria Group).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
207
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Following  the  arrangement  in  July 2019  of  a  €250 million  Euro  PP  fixed-rate  bond  issue  with  maturities  of  7  and  8 years,  the  Group  
restructured its portfolio of interest rate hedges to secure lower rates over longer maturities, as detailed below:  
Fair value  
31/12/2020  
Maturity  
Non-  
current Current  
Non-  
current  
Current Notional  
1 to  
assets  
assets liabilities liabilities amount*  1 year  
5 years  5 years  
(in millions of euros)
Swap (cash flow hedge) in euros  
Swap (cash flow hedge) in foreign  
currency  
Options eligible for hedge  
accounting in euros  
Options eligible for hedge  
accounting in foreign currency  
Swaps not eligible for hedge  
accounting in euros  
-
-
-
-
-
-
-
-
-
-
-
-
-
0.2  
-
-
0.0  
-
-
0.4  
-
-
0.5  
-
-
-
-
275.0  
125.0  
150.0  
-
-
-
-
-
-
-
-
-
-
Options not eligible for hedge  
accounting in euros  
-
-
0.1  
-
50.0  
50.0  
-
-
TOTAL INTEREST RATE HEDGES
0.2
0.0
0.4
0.5
325.0
175.0
150.0
-
(*) Excluding the notional amount of the swaption  
The remeasurement of these financial instruments in equity is recognised in Other comprehensive income.  
The remeasurement of these financial instruments in profit or loss is recognised in Other financial income and expenses.  
The profit or loss and equity impacts of the Group’s interest rate hedging instruments are as follows:  
Balance sheet amounts  
Changes in fair value  
Profit or loss impact  
Ineffective  
Changes  
in fair  
value  
Changes  
in scope  
Other  
changes  
Equity  
impact  
portion of cash  
Fair value  
(in millions of euros)
31/12/2019  
31/12/2020  
flow hedges  
hedges  
Trading  
Swap (cash flow hedge) in  
euros  
Swap (cash flow hedge) in  
foreign currency  
Options eligible for hedge  
accounting in euros  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-1.0  
0.3  
-0.7  
0.2  
0.0  
-0.0  
Options eligible for hedge  
accounting in foreign  
currency  
Swaps not eligible  
for hedge accounting in  
euros  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Options not eligible for  
hedge accounting  
-0.2  
0.1  
-
-
-0.1  
-
-
-
0.1  
TOTAL PRE-TAX IMPACT
-1.2
0.4
-
-
-0.8
0.2
0.0
-0.0
0.1
208  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The sensitivity of the interest rate derivatives portfolio to a plus or minus 50-basis-point change in the euro yield curves at 31 December  
2020 is as follows:  
-50 bp  
+50 bp  
Equity  
PL impact  
PL impact  
(hedge ineffectiveness)
Equity impact  
impact  
(in millions of euros)
(hedge ineffectiveness)
Swaps (cash flow hedge) in euros  
-
-
-
-
-
-
-
-
-
-
-
Swaps (cash flow hedge) in foreign currency  
Swaps not eligible for hedge accounting  
Options eligible for hedge accounting in euros  
Options eligible for hedge accounting in foreign currency  
Options not eligible for hedge accounting  
-
0.7  
-
-0.2  
-0.0  
-
-0.0  
0.0  
-
0.0  
-
-
-
TOTAL
-0.2
0.0
0.7
0.0
Total impact  
-0.2  
0.7  
The total amount of gross borrowings subject to interest rate risk was €311.2 million. Interest rate hedges in force at 31 December 2020  
reduced this exposure to €36.2 million.  
The Group’s residual exposure to interest rate risk is as follows:  
Less  
than  
More  
than  
1 to  
2 to  
3 to  
4 to  
Rate 31/12/2020 1 year  
2 years 3 years 4 years 5 years 5 years  
(in millions of euros)
Fixed rate  
Floating rate  
Floating rate  
Fixed rate  
-
41.2  
204.3  
-
-
41.2  
204.3  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Short-term investment securities  
Floating rate  
Total financial assets  
Fixed rate  
245.5  
245.5  
-251.7  
-136.7  
-60.3  
-174.0  
-35.0  
-12.9  
-
245.5  
245.5  
-2.2  
-10.7  
-0.3  
-
-
-
-
-
-
-
-
-
-
Financial assets  
Bonds  
Bank borrowings  
Bank borrowings  
NEU CP (commercial paper)  MTN  
0.1  
-10.7  
0.1  
-115.2  
0.1  
-
-60.0  
0.1  
-
-
-
-
-
-
-
-
-249.9  
Floating rate  
Fixed rate  
Floating rate  
Fixed rate  
Fixed rate  
Floating rate  
Fixed rate  
Floating rate  
Fixed rate  
Floating rate  
-
-
-
-
-
-
-
-
-
-79.0  
-70.0  
-25.0  
-35.0  
-
-
-
-
-
-
-
-
-
-12.9  
-
-
-
-
-
Other financial debt  
-
-
-
-0.6  
-359.9  
-311.2  
-0.6  
-15.4  
-90.3  
-
-59.9  
-
-
-249.9  
-
0.1  
-80.7  
-34.9  
-140.2  
0.1  
-
Total financial  
liabilities  
Financial liabilities  
(gross exposure before hedging)  
-671.2  
-105.7  
-80.7  
-175.1  
-59.9  
0.1  
-249.9  
FIXED RATE
-359.9
-15.4
0.1
-34.9
-59.9
0.1 -249.9
NET EXPOSURE BEFORE
HEDGING
FLOATING RATE
-65.7
155.2
-80.7 -140.2
-
-
-
Fixed-rate payer swaps  
in euros  
Fixed-rate payer swaps  
in foreign currency  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Interest rate hedging  
instruments  
Fixed-rate payer  
options  
275.0  
125.0  
75.0  
75.0  
-
-
FIXED RATE
FLOATING RATE
FIXED RATE
-634.9 -140.4
-36.2 34.7
-634.9 -140.4
209.3 280.2
0.1 -109.9 -134.9
-80.7 -65.2 75.0
0.1 -109.9 -134.9
-80.7 -65.2 75.0
0.1
-
GROSS EXPOSURE AFTER
HEDGING
-
0.1
-
-
-
-
NET EXPOSURE AFTER HEDGING
FLOATING RATE
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
209
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The fair value of interest rate hedging derivatives is measured using  
the following assumptions:  
exposures,  hedges  the  residual  exposure  through  the  use  of  
derivatives.  
Level 1: Quoted data: 0%;  
Foreign  currency  risk  hedging  mainly  relates  to  transaction  
exposures  involving  the  Group’s  production  platforms  in  India,  
Poland and Tunisia, and certain commercial contracts denominated  
in  US  dollars  and  in  Norwegian  kroner.  These  hedges  cover  both  
invoiced  items  and  future  cash  flows:  changes  in  fair  value  
corresponding  to  these  hedges  are  taken  to  profit  or  loss  for  
invoiced items and to equity for future cash flows.  
p
Level 2: Observable data: 100%;  
p
Level 3: Internal models: 0%.  
p
12.5.4. Foreign currency risk  
The  Group  is  subject  to  three main  types  of  risks  linked  to  
fluctuations in exchange rates:  
The  remeasurement  through  profit  or  loss  of  these  financial  
instruments hedging balance sheet items is offset by the revaluation  
of foreign currency receivables over the period.  
translation risk in the various financial statements making up the  
Group’s consolidated financial statements for business conducted  
in countries with a functional currency other than the euro;  
p
The  Group’s  Finance  Department  provides  hedging  via  futures  or  
options  entered  into  either  on  organised  markets  or  over  the  
counter  with  top-tier  counterparties  that  are  members  of  the  
banking syndicate.  
transaction risk linked to purchases and sales of services, where  
the transaction currency is different from that of the country in  
which the service is recognised;  
p
financial  foreign  currency  risk  arising  from  the  Group’s  
foreign-currency  borrowings  (risk  arising  from  changes  in  the  
value of the financial debt denominated in pounds sterling).  
p
The  Group’s  policy  is  not  to  conduct  speculative  transactions  on  
financial markets.  
Finally,  the  structure  of  the  Group’s  borrowing,  part  of  which  is  
denominated  in  sterling,  provides  a  natural  (if  only  partial)  hedge  
against currency translation risk on net assets, recognised directlyin  
the  balance  sheet.  Similarly,  in  connection  with  the  Kentor  
acquisition  in  Sweden,  the  Group  entered  into  a  hedging  
arrangement  for  the  Swedish  krona  to  cover  its  financing  
requirements for this entity.  
As  part  of  its  general  risk  management  policy,  the  Group  
systematically hedges against foreign currency transaction risks that  
constitute material risks for the Group as a whole.  
Centralised  management  of  foreign  currency  transaction  risk  is  in  
place  with  the  Group’s  main  entities  (apart  from  India).  
Sopra Steria  Group  acts  as  the  centralising  entity,  granting  
exchange rate guarantees to subsidiaries and, after netting internal  
The balance sheet value of the Group’s foreign currency hedging instruments, and applicable notional amounts hedged, are as follows:  
Fair value  
31/12/2020  
Maturity  
Non-  
current  
assets  
Non-  
current  
assets liabilities liabilities  
Less  
than  
1 year  
More  
than  
5 years  
Current  
Current Notional  
1 to  
5 years  
amount  
(in millions of euros)
Fair value hedges  
Foreign currency forwards  
Foreign currency options  
-
-
0.8  
-
-
-
2.1  
-
74.5  
-
74.5  
-
-
-
-
-
Cash flow hedges  
Foreign currency forwards  
Foreign currency options  
0.1  
-
0.4  
0.0  
1.9  
0.1  
0.9  
0.2  
131.2  
17.3  
44.2  
12.3  
87.0  
5.0  
-
-
Instruments not designated  
for hedging*  
-
0.0  
0.0  
0.0  
8.1  
6.4  
1.8  
-
TOTAL FOREIGN CURRENCY
HEDGES
0.1
1.2
2.0
3.3
231.1
137.3
93.7
-
*
The Group hedges the foreign exchange transaction risk but chooses in certain cases not to apply hedge accounting.  
The remeasurement of these financial instruments in profit or loss is recognised in Other current operating income and expenses, with the  
exception of the time value and the impact of financial instruments not eligible for hedge accounting, which are recognised in Other financial  
income and expenses.  
210  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
The profit or loss and equity impacts of the Group’s foreign currency hedging instruments are as follows:  
Balance sheet amounts  
Changes in fair value  
Profit or loss impact  
Ineffective  
portion of  
cash flow  
hedges  
Changes  
Fair  
value  
hedges Trading  
in fair  
value  
Changes  
in scope  
Other  
changes 31/12/2020  
Equity  
impact  
31/12/2019  
(in millions of euros)
Fair value hedges  
Foreign currency  
forwards  
Foreign currency  
options  
4.4  
0.2  
-5.8  
-0.2  
-
-
-
-
-1.3  
-0.0  
-
-
-
-
-5.8  
-0.2  
-
-
Cash flow hedges  
Foreign currency  
forwards  
Foreign currency  
options  
1.1  
0.1  
-3.4  
-0.9  
-
-
-
-2.3  
0.3  
-3.4  
-0.5  
-
-
-
-
-
1.0  
-0.3  
Instruments not  
designated  
for hedging  
0.0  
0.5  
-
-0.6  
-0.1  
-
-
-
0.5  
TOTAL PRE-TAX
IMPACT
5.9
-9.7
-
0.4
-3.4
-3.9
-
-6.3
0.5
Exposure to foreign exchange risk is as follows:  
COMMERCIAL TRANSACTIONS  
GBP  
NOK  
EUR  
INR  
TND  
USD  
SEK  
Other  
Total  
(in millions of euros)
Assets  
Liabilities  
Foreign currency commitments  
30.8  
1.1  
0.0  
0.0  
0.0  
0.0  
50.8  
14.9  
0.0  
0.0  
0.0  
0.0  
1.0  
7.4  
0.0  
4.8  
5.1  
0.0  
0.0  
0.0  
0.0  
3.5  
14.6  
0.0  
90.9  
43.1  
0.0  
Net position before hedging  
Hedging instruments  
29.7  
67.7  
0.0  
15.3  
35.9  
64.5  
0.0  
0.0  
-6.4  
-11.7  
-0.3  
-3.3  
0.0  
0.0  
-11.2  
-53.6  
47.8  
78.9  
NET POSITION AFTER HEDGING
-38.0
-15.3
-28.6
0.0
5.3
3.0
0.0
42.4
-31.1
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
211
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
FINANCING INCLUDING CURRENT ACCOUNT  
GBP  
NOK  
EUR  
INR  
TND  
USD  
SEK  
Other  
Total  
(in millions of euros)
Assets  
Liabilities  
Foreign currency commitments  
187.8  
-0.0  
0.0  
61.2  
0.0  
0.0  
0.0  
0.0  
0.0  
41.5  
0.0  
0.0  
0.2  
0.0  
0.0  
0.2  
9.0  
0.0  
0.2  
21.4  
0.0  
30.4  
6.2  
0.0  
321.6  
36.6  
0.0  
Net position before hedging  
Hedging instruments*  
187.9  
284.4  
61.2  
0.0  
0.0  
0.0  
41.5  
0.0  
0.2  
0.0  
-8.8  
0.0  
-21.2  
-19.1  
24.2  
0.0  
284.9  
265.4  
NET POSITION AFTER HEDGING
-96.6
61.2
0.0
41.5
0.2
-8.8
-2.2
24.2
19.6
*
Net investment hedge in foreign currency.  
TOTAL (MARKET POSITIONS+FINANCING)  
GBP  
NOK  
EUR  
INR  
TND  
USD  
SEK  
Other  
Total  
(in millions of euros)
Assets  
Liabilities  
Foreign currency commitments  
218.6  
1.1  
0.0  
61.2  
0.0  
0.0  
50.8  
14.9  
0.0  
41.5  
0.0  
0.0  
1.2  
7.4  
0.0  
5.0  
14.1  
0.0  
0.2  
21.4  
0.0  
33.9  
20.8  
0.0  
412.4  
79.7  
0.0  
Net position before hedging  
Hedging instruments  
217.6  
352.1  
61.2  
15.3  
35.9  
64.5  
41.5  
0.0  
-6.2  
-11.7  
-9.1  
-3.3  
-21.2  
-19.1  
13.0  
-53.6  
332.7  
344.2  
NET POSITION AFTER HEDGING
-134.6
45.9
-28.6
41.5
5.5
-5.9
-2.2
66.6
-11.5
SENSITIVITY ANALYSIS  
GBP  
NOK  
EUR  
INR  
TND  
USD  
SEK  
Other  
Total  
(in millions of euros)
Currency change assumption (appreciation)  
NET PROFIT IMPACT
5%  
5%  
5%  
5%  
5%  
5%  
5%  
5%  
0.2
-0.0
0.5
-
-0.3
0.1
0.0
0.4
0.9
EQUITY IMPACT
-6.9
2.3
-1.9
2.1
0.6
-0.4
-0.1
2.9
-1.5
12.5.5. Equity risk  
At  31 December  2020,  the  value  of  treasury  shares  was  
€41.1 million.  
The  Group  does  not  hold  any  investments  in  equities  or  any  
significant  equity  interests  in  listed  companies  other  than  Axway  
Software  shares  accounted  for  under  the  equity  method  (see  
Note 10)  and  the  shares  in  CS  Communication    Systèmes  (see  
Note 7.1.1).  
Given the limited number of treasury shares it holds (1.51% of the  
share  capital),  the  Group  is  not  materially  exposed  to  equity  risk.  
Furthermore,  since  the  value  of  treasury  shares  is  deducted  from  
equity,  changes  in  the  share  price  have  no  impact  on  the  
consolidated income statement.  
212  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 13
CASH FLOWS  
13.1. Change in net financial debt  
Proceeds  
from/(Payments  
on) borrowings  
Changes  
Translation  
Other  
31/12/2019  
in scope adjustments movements  
31/12/2020  
(in millions of euros)
Bonds excluding accrued interest  
Bank borrowings excluding accrued  
interest  
Other sundry financial debt  
excluding current accounts and  
accrued interest  
250.0  
-5.0  
5.0  
9.5  
-
-
250.0  
225.6  
231.4  
-33.2  
-2.8  
-0.4  
198.8  
221.8  
-15.5  
7.0  
-1.5  
0.4  
Financial debt in the cash flow  
statement  
707.0  
-0.0  
-0.5  
-53.7  
0.1  
0.7  
21.5  
0.0  
-0.2  
-4.3  
-0.1  
-
-
-0.0  
-
670.6  
-0.0  
Current accounts  
Accrued interest on financial debt  
0.0  
Financial debt excluding  
current bank overdrafts  
706.5  
-4.9  
23.5  
-52.9  
14.8  
19.2  
-4.1  
21.4  
-0.1  
0.2  
-4.4  
-10.4  
-3.5  
-0.0  
670.6  
-0.6  
39.4  
Current bank overdrafts  
Short-term investment securities  
Cash and cash equivalents  
-
-
174.0  
27.1  
9.1  
0.0  
206.1  
Net cash in the cash flow  
statement  
192.6  
30.0  
27.2  
-4.8  
0.0  
245.0  
NET FINANCIAL DEBT
513.9
-82.9
-5.8
0.4
-0.0
425.6
Change in net financial debt  
-88.3  
The breakdown provided in the Change in net financial debt table  
explains  the  purposes  of  the  new  borrowings  and  repayments  of  
existing borrowings recognised in the cash flow statement.  
in  that  this  caption  includes  the  cash  impact  of  Other  financial  
income and expenses(see Note 12.1.2).  
Free  cash  flow  is  defined  as  net  cash  from  operating  activities  
adjusted for the impact of purchases (net of disposals) of property,  
plant and equipment and intangible assets during the period; lease  
payments; all financial income and expenses payable or receivable  
(except  those  related  to  lease  liabilities);  and  additional  
contributions  paid  to  cover  any  deficits  in  certain  defined-benefit  
pension plans.  
The change in net financial debt is broken down into indicators. Net  
cash  from  operating  activities  is  based  on  Operating  profit  on  
business activity, after deducting the depreciation, amortisation and  
the provisions it includes, which gives EBITDA, and other non-cash  
items adjusted for tax paid, restructuring and integration costs, and  
the change in the working capital requirement. It differs from Net  
cash  from  operating  activities  as  shown  in  the  consolidated  cash  
flow statement presented in the financial statements on page 162,  
Adjusted  for  net  cash  generated  by  financing  activities  and  the  
impact of exchange rate fluctuations on net debt, this explains the  
change in net financial debt.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
213
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Financial year  
2020  
Financial year  
2019  
(in millions of euros)
Operating profit on business activity  
300.2  
354.3  
Depreciation, amortisation and provisions (excluding allocated intangible assets)  
187.4  
159.3  
EBITDA  
487.6  
7.3  
513.6  
-3.9  
Non-cash items  
Tax paid  
Impairment of current assets  
-82.9  
-0.6  
-81.0  
0.9  
Change in current operating WCR  
Non-recurring costs, including reorganisation and restructuring costs  
72.5  
-82.2  
25.3  
-32.7  
Net cash flow from operating activities  
401.7  
-53.6  
0.4  
422.2  
-49.8  
0.1  
Purchase of property, plant and equipment and intangible assets  
Proceeds from sale of property, plant and equipment and intangible assets  
Net change from investing activities involving property, plant and equipment  
and intangible assets  
-53.2  
-109.4  
-10.0  
-49.7  
-109.8  
-9.3  
Lease payments  
Net interest (excluding interest on lease liabilities)  
Additional contributions related to defined-benefit pension plans  
-25.5  
-24.1  
Free cash flow  
203.5  
-97.5  
-3.5  
1.5  
-4.3  
0.0  
229.3  
-89.5  
-7.4  
4.7  
-39.9  
2.9  
Impact of changes in scope  
Impact of payments relating to non-current financial assets  
Impact of receipts relating to non-current financial assets  
Dividends paid  
Dividends received  
Capital increases  
Purchase and sale of treasury shares  
Other cash flows relating to investing activities  
-0.0  
-10.9  
-
-0.0  
-2.8  
-
Net cash flow  
88.8  
-0.4  
-
97.4  
-7.3  
16.9  
Impact of changes in foreign exchange rates  
Impact of changes in accounting policies (IFRS 16)  
CHANGE IN NET FINANCIAL DEBT
88.4
107.0
Cash and cash equivalents – Beginning of period  
Non-current financial debt – Beginning of period  
Current financial debt – Beginning of period  
192.6  
-494.4  
-212.2  
159.8  
-338.3  
-442.4  
Net financial debt – Beginning of period  
-513.9  
245.0  
-564.5  
-106.1  
-620.9  
192.6  
-494.4  
-212.2  
Cash and cash equivalents – End of period  
Non-current financial debt – End of period  
Current financial debt – End of period  
Net financial debt – End of period  
-425.6  
-513.9  
CHANGE IN NET FINANCIAL DEBT
88.3
107.0
Free cash flow came to €203.5 million (€229.3 million in 2019). It  
reflected  a  slight  improvement  in  the  cash  conversion  rate  with  
respect to operating profit on business activity compared with the  
previous  financial  year.  This  performance  mainly  resulted  from  a  
substantial improvement in the management of the working capital  
requirement, despite an increase in outflows on non-recurring costs  
(including  the  restructuring  costs  of  business  reorganisations)  
affected by the consequences of the Covid-19 pandemic crisis and  
the  impact  of  the  cyberattack  on  the  Group  on  21  October  (see  
Note 4.2.3).  
214  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Outflows related to acquisitions of companies, recognised within Impact of changes in scope, were stable, totalling €97.5 million. Those that  
took place in 2020 are described in Note 2.1 and break down as follows:  
Financial year  
2020  
Financial year  
2019  
(in millions of euros)
Cost of acquisitions paid (excluding earn-outs)  
Net debt/(Net cash) of acquired companies  
Earn-outs  
Disposal price for shares sold in consolidated equity investments  
Cash transferred out/Deconsolidated entities  
-103.4  
-95.8  
-0.6  
-1.9  
4.4  
5.9  
-
-
-0.0  
4.3  
TOTAL
-97.5
-89.5
In  2020,  they  mainly  included  the  acquisitions  of  Sodifrance  and  
Fidor Solutions, and the exercise of the put option for SAB shares.  
Sopra Steria  Recruitment Ltd  had  a  positive  impact  of  
€8.7 million.  
In  2019,  they  included  the  acquisitions  of  SAB,  Sopra  Financial  
Technology GmbH and NeoSpheres, as well as earn-outs on prior  
acquisitions,  Apak  and  O.R.  System.  Conversely,  the  disposal  of  
As a result of these effects, net financial debt at 31 December 2020  
decreased  to  €425.6 million,  compared  with  €513.9 million  at  
31 December 2019.  
13.2. Reconciliation of WCR with the cash flow statement  
The impact of the components of the operating working capital requirement shown on the balance sheet on cash generation can be broken  
down as follows:  
Of  
which:  
Items  
Change in WCR  
items without cash  
impact  
Of  
which:  
WCR  
Impact  
on cash  
not  
Net included  
Foreign  
flow  
31/12/2020 31/12/2019  
change  
in WCR  
items exchange  
Other statement  
(in millions of euros)
Other non-current financial assets  
36.7  
36.4  
25.2  
23.0  
11.5  
13.3  
-1.9  
-
13.3  
13.3  
-0.3  
-0.3  
18.0  
18.0  
4.3  
4.3  
Other loans and receivables  
p
Other non-current financial  
assets  
p
0.3  
2.2  
-1.9  
-1.9  
-
-
-
-
Non-current assets  
36.7  
25.2  
11.5  
-1.9  
13.3  
-0.3  
18.0  
4.3  
Trade receivables and related  
accounts  
954.6  
607.6  
346.9  
410.6  
1,074.3  
737.7  
336.6  
348.3  
-119.7  
-130.1  
10.4  
-
-
-
-119.7  
-130.1  
10.4  
-12.2  
-6.4  
-5.8  
-3.7  
-3.0  
11.4  
-14.3  
12.2  
104.6  
135.1  
-30.5  
-82.4  
Trade receivables  
p
Accrued income  
p
Other current receivables  
62.2  
-28.7  
90.9  
Current assets  
1,365.1  
1,422.6  
-57.5  
-28.7  
-28.8  
-15.9  
9.2  
22.1  
TOTAL ASSETS
1,401.8
1,447.8
-46.0
-30.6
-15.4
-16.2
27.2
26.4
Retirement benefits and similar  
obligations – Liabilities  
-10.2  
-10.2  
0.0  
-
0.0  
0.6  
-1.5  
-0.9  
Other long-term employee  
benefits  
Other non-current liabilities  
p
-10.2  
-104.1  
-10.2  
-112.2  
0.0  
8.1  
-
0.0  
9.4  
0.6  
4.9  
-1.5  
4.5  
-0.9  
-0.0  
-1.4  
Non-current liabilities  
-114.3  
-122.4  
8.1  
-1.4  
9.4  
5.5  
3.1  
-0.9  
Trade payables  
-278.6  
-286.3  
7.7  
1.7  
6.0  
-2.3  
2.9  
-5.4  
Advances and payments on  
account received for orders  
Deferred income on client projects  
Other current liabilities  
-22.3  
-328.2  
-816.6  
-5.5  
-296.6  
-918.8  
-16.8  
-31.6  
102.2  
-
-
-16.8  
-31.6  
79.5  
0.1  
4.8  
7.7  
-0.0  
0.3  
41.2  
16.9  
36.6  
-30.6  
22.7  
Current liabilities  
TOTAL LIABILITIES
TOTAL WCR
-1,445.7  
-1,507.2  
61.5  
24.4  
37.1  
10.2  
44.4  
17.5  
-1,560.0
-1,629.6
69.6
23.0
46.5
15.7
47.4
16.6
-158.2
-181.8
23.6
-7.5
31.1
-0.5
74.6
43.0
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
215
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
13.3. Other cash flows in the consolidated cash flow statement  
Beyond the changes presented in the Change in net financial debt  
table,  the  consolidated  cash  flow  statement  presented  on  page  
162 was  affected  by  movements  related  to  financing  activities.  
Payments  on  borrowings  mainly  concerned  payments  on  the  
medium-term loan and the NEU CP programme (see Note 12.3).  
NOTE 14
EQUITY AND EARNINGS PER SHARE  
All of the Sopra Steria Group shares held by the parent company  
or any of its subsidiaries are recognised at their acquisition cost,  
deducted from consolidated equity.  
14.1. Equity  
The  consolidated  statement  of  changes  in  equity  is  presented  on  
page 161.  
14.1.3. Dividends  
14.1.1. Changes in share capital  
On  9 April  2020,  the  Board  of  Directors  decided  to  submit  a  
resolution at the General Meeting of 9 June 2020 proposing not to  
pay  a  dividend  in  respect  of  financial  year  2019.  This  resolution  
passed at the General Meeting.  
At 31 December 2020, Sopra Steria Group had a share capital of  
€20,547,701, the same as at 31 December 2019. It is represented  
by 20,547,701 fully paid-up shares with a par value of €1 each.  
The dividend paid in financial year 2019 in respect of financial year  
2018 was €38.0 million, equating to €1.85 per share.  
14.1.2. Transactions in treasury shares  
At 31 December 2020, the value of treasury shares recognised as a  
deduction  from  consolidated  equity  was  €36.2 million,  consisting  
of  310,525 shares,  including  263,713 shares  held  by  UK  trusts  
falling within the consolidation scope and 46,812 shares acquired  
by  Sopra Steria  Group,  5,400  of  which  were  acquired  under  the  
liquidity  agreement  and  the  rest  of  which  were  acquired  to  make  
any  potential  share-based  payments.  This  value  also  includes  
€3.5 million relating to the Group’s commitment to acquire shares  
on the market for its free performance share plans (see Note 5.4.1).  
14.1.4. Accumulated translation reserves  
In line with the principles described in Note 1.4.2.b, accumulated  
translation reserves include the gains or losses arising on translation  
from  the  functional  currencies  of  the  Group’s  entities  to  the  
presentation currency as well as the currency hedging effects of net  
investments in foreign operations. Movements are recorded in Other  
comprehensive  income.  Accumulated  translation  reserves  also  
reflect  the  translation  effects  of  gains  or  losses  on  disposals  of  
foreign operations.  
At 31 December 2020, accumulated translation reserves by currency were as follows:  
31/12/2020  
31/12/2019  
(in millions of euros)
Swiss franc  
8.0  
-80.7  
-0.4  
-23.6  
-0.6  
0.1  
-1.9  
0.4  
-10.2  
7.9  
-49.6  
2.6  
-18.0  
-0.2  
0.5  
-1.7  
-0.0  
1.3  
Pound sterling  
Indian rupee  
Norwegian krone  
Polish zloty  
Singapore dollar  
Tunisian dinar  
US dollar  
Other currencies  
ACCUMULATED TRANSLATION RESERVES (ATTRIBUTABLE TO THE GROUP)
-108.9
-57.2
The  Other  currencies  category  mainly  includes  the  accumulated  
translation reserves of associates, and chiefly Axway Software, in the  
amount of €1.7 million (€8.3 million at 31 December 2019).  
The Group has granted the Cabinet Office a put option to sell the  
shares it holds in SSCL.  
In  the  same  vein,  the  Group  has  entered  into  an  irrevocable  
commitment to acquire the remaining shares in Galitt, in the form  
of a put option granted to the other shareholders.  
14.1.5. Non-controllinginterests  
The  contributions  to  the  income  statement  and  balance  sheet  of  
entities  in  which  there  are  non-controlling  interests  mainly  come  
from  joint  ventures  formed  with  the  UK  authorities  in  the  United  
Kingdom: NHS SBS, 50%-owned by the UK Department of Health,  
and SSCL, 25%-owned by the Cabinet Office. The Group has 50%  
and 75% control, respectively. They also relate to the companies in  
the  Galitt  group  acquired  in  2017,  as  well  as  Sopra  Financial  
Technology GmbH, acquired in 2019.  
Due  to  the  accounting  treatment  of  the  put  option  granted  in  
respect  of  SSCL  and  Galitt  shares,  the  amount  of  non-controlling  
interests on the balance sheet mainly relates to the UK Department  
of Health’s share in the net assets of NHS SBS (€29.8 million), and  
the  share  of  the  German  banking  network  Sparda’s  cooperative  
banks in Sopra Financial Technology GmbH (€17.8 million).  
216  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
In the income statement, amounts attributable to non-controlling interests mainly comprised €5.7 million for SSCL, €2.9 million for NHS  
SBS and €3.5 million for Sopra Financial Technology GmbH.  
Summary financial information for SSCL, NHS SBS, Galitt and Sopra Financial Technology GmbH is as follows:  
31/12/2020  
SSCL  
NHS SBS  
Galitt  
SFT  
(in millions of euros)
Non-current assets  
Current assets  
Non-current liabilities  
Current liabilities  
Revenue  
13.7  
161.2  
3.0  
65.8  
246.3  
30.1  
70.6  
22.3  
18.8  
93.0  
41.5  
9.2  
5.8  
-11.9  
33.1  
112.6  
18.2  
51.8  
34.2  
204.9  
NET PROFIT
22.8
5.9
0.7
7.0
Non-controlling  interests  arise  where  a  portion  of  equity  
ownership in a subsidiary is not attributable directly or indirectly to  
the parent company.  
the  corresponding  amount  of  non-controlling  interests  initially;  
and  
the Group’s share of consolidated reserves for the remainder.  
When  non-controlling  interests  have  an  option  to  sell  their  
investment to the Group, a financial liability is recorded in Other  
non-current liabilities (see Note 7.4) for the present value of the  
option’s estimated exercise price. The offset of the financial liability  
generated by these commitments is deducted from:  
Subsequent  changes  in  this  put  option  arising  from  changes  in  
estimates  or  relating  to  the  unwinding  of  discount  are  offset  
against  the  corresponding  non-controlling  interests  and  the  
remainder  is  deducted  from  the  Group’s  share  of  consolidated  
reserves.  
14.1.6. Capital management objectives, policy  
and procedures  
The  Company  is  not  subject  to  any  external  constraints  on  
its capital.  
The Company’s capital is solely composed of the items disclosed in  
the balance sheet. There are no financial liabilities considered to be  
components  of  capital  and,  conversely,  there  are  no  equity  
components not considered to be part of the Company’s capital.  
Treasury shares are detailed in Note 14.1.2.  
The only potentially dilutive instruments are the free shares granted  
under Sopra Steria’s free performance share plans (see Note 5.4.1).  
14.2. Earnings per share  
Financial year  
2020  
Financial year  
2019  
Net profit attributable to the Group (in millions of euros)(a)  
Weighted average number of ordinary shares outstanding (b)  
Weighted average number of treasury shares (c)  
106.8  
20,547,701  
294,209  
160.3  
20,547,701  
313,075  
Weighted average number of shares outstanding excluding treasury shares (d) = (b) - (c)  
20,253,492  
20,234,626  
BASIC EARNINGS PER SHARE (IN EUROS) (A/D)
5.27
7.92
Financial year  
2020  
Financial year  
2019  
Net profit attributable to the Group (in millions of euros)(a)  
106.8  
20,253,492  
68,951  
160.3  
20,234,626  
116,462  
Weighted average number of shares outstanding excluding treasury shares (d)  
Dilutive effect of instruments that give rise to potential ordinary shares (e)  
Theoretical weighted average number of equity instruments (f) = (d)+(e)  
20,322,443  
20,351,088  
DILUTED EARNINGS PER SHARE (IN EUROS) (A/F)
5.25
7.88
The method used to calculate earnings per share is set out below.  
Treasury shares are detailed in Note 14.1.2.  
Potentially dilutive instruments are presented in Note 5.4.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
217
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Earnings  per  share  as  stated  in  the  income  statement  are  
calculated on the basis of the Group’s share in the net profit as  
follows:  
corresponding  new  Group  companies  were  consolidated  for  the  
first time;  
diluted  earnings  per  share  are  calculated  by  adjusting  the  
p
basic  earnings  per  share  are  based  on  the  weighted  average  
number of shares outstanding during the financial year, calculated  
according  to  the  dates  when  the  funds  arising  from  cash  share  
issues  were  received  and,  in  respect  of  shares  issued  for  
contributions  in  kind  via  equity,  the  date  on  which  the  
Group’s share of net profit and the weighted average number  
of  shares  outstanding  for  the  dilutive  effect  of  share  
subscription option plans in force at the financial year-end and  
free  share  plans.  The  treasury  stock  method  is  applied  on  the  
basis of the average share price for the year.  
NOTE 15
RELATED-PARTY TRANSACTIONS  
15.1. Transactions with equity-accounted associates and non-consolidated  
entities  
31/12/2020  
31/12/2019  
(in millions of euros)
Transactions between Sopra Steria Group and the Axway Software group  
Sales of goods and services  
Purchases of goods and services  
Operating receivables  
Operating payables  
Financial income  
Financial receivables (current account)  
0.1  
-3.2  
0.4  
-1.5  
0.2  
-0.8  
-
-
-1.0  
-
-
-
Transactions between Sopra Steria Group subsidiaries and the Axway Software group  
Sales of goods and services  
Purchases of goods and services  
Operating receivables  
Operating payables  
Financial income  
7.6  
-4.3  
1.5  
-2.3  
-
6.1  
-3.8  
0.9  
-0.7  
-
Financial receivables (current account)  
Transactions between Sopra Steria Group and holding company Sopra GMT  
Sales of goods and services  
Purchases of goods and services  
Operating receivables  
-
-
0.2  
-1.2  
0.1  
-0.4  
-
0.4  
-1.6  
0.1  
-0.1  
-
Operating payables  
Financial income  
Financial receivables (current account)  
-
-
15.2. Subsidiaries and equity interests  
Transactions  and  balances  between  Sopra Steria  Group  and  its  subsidiaries  were  eliminated  in  full  on  consolidation,  since  all  of  the  
subsidiaries are fully consolidated.  
Non-consolidated equity investments are all recognised within Non-consolidated securities(see Note 7.1.1).  
218  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 16
OFF-BALANCE SHEET COMMITMENTS  
16.1. Commitments given related to current operations  
31/12/2020  
31/12/2019  
(in millions of euros)
Bank guarantees for project completion  
Other guarantees  
18.6  
8.1  
26.6  
11.5  
TOTAL
26.7
38.1
Under  the  IT  service  contracts  it  enters  into  with  its  clients,  the  
Group  may,  if  formally  requested  by  its  clients,  provide  bank  
guarantees in respect of the performance of obligations undertaken  
in  these  contracts.  The  amount  of  these  guarantees  was  
€18.6 million  at  31 December  2020  (€26.6 million  at  
31 December 2019). To date, no use has ever been made of any  
such guarantee.  
In  addition,  the  Group  is  exposed  under  its  leases  to  future  cash  
outflows, which were not taken into account in the measurement of  
its lease liabilities. These arise from property leases, under which the  
Group  will  have  the  right  to  control  their  use  after  31 December  
2020. These amounted to €90.4 million at 31 December 2020. No  
such exposure existed at 31 December 2019.  
16.2. Commitments received  
31/12/2020  
31/12/2019  
(in millions of euros)
Unused credit lines  
Unused current bank overdrafts  
Other commitments received  
950.0  
161.0  
4.5  
950.0  
157.1  
4.5  
TOTAL
1,115.4
1,111.6
As part of a cash pooling arrangement set up in 2012 between the entities of the Group and BMG (Bank Mendes Gans), Sopra Steria Group  
acts as guarantor for the amounts borrowed by its subsidiaries.  
NOTE 17
SUBSEQUENT EVENTS  
No subsequent events occurred after the end of financial year 2020.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
219
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 18
LIST OF GROUP COMPANIES  
Consolidation  
method  
Company  
Country  
% control  
% held  
France  
Sopra Steria Group  
Sopra Steria Infrastructure Security Services  
Sopra Steria Services  
XYZ 12 2016  
Beamap SAS  
CIMPA SAS  
France  
France  
France  
France  
France  
-
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
37.00%  
-
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
37.00%  
Parent company  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
N/A  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
France  
CIMPA GmbH  
CIMPA Ltd  
Germany  
United Kingdom  
Spain  
CIMPA PLM España SL  
Sopra Steria Polska  
Steria Medshore SAS  
Sopra Steria Group – Morocco branch  
2MoRO SAS  
2MoRO Inc.  
Tecfit  
Galitt  
Sodifrance SA  
Poland  
Morocco  
Morocco  
France  
Canada  
France  
France  
France  
France  
France  
France  
France  
France  
France  
France  
France  
Tunisia  
88.13%  
99.07%  
88.13%  
87.31%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
HP2M SAS  
Strateg’e.Boss SAS  
Sodifrance-Isis SAS  
Soft-Maint SAS  
Anteo Consulting SAS  
Anteo e-Business Solutions SAS  
Mia Software SAS  
Apprentissage Professionnel Informatique  
Soft-Maint Tunisie  
United Kingdom  
Sopra Group Holding Ltd  
Sopra Group Ltd  
Sopra Steria Holdings Ltd  
Sopra Steria Ltd  
Sopra Steria Services Ltd  
Caboodle Solutions Ltd  
ASL Information Services Limited  
Druid Group Ltd  
OSI Group Holdings Limited  
FI Group Limited  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
50.00%  
100.00%  
100.00%  
75.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
75.50%  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
OSI Group Limited  
Steria BSP Ltd  
NHS Shared Employee Services Limited  
NHS Shared Business Services Ltd  
Steria UK Ltd  
Steria UK Corporate Ltd  
Shared Services Connected Ltd (SSCL)  
First Banking Systems  
Firth Solutions Ltd  
50.00%  
100.00%  
100.00%  
75.00%  
100.00%  
100.00%  
100.00%  
100.00%  
FI Academy Ltd  
FI Kernel Ltd  
220  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Consolidation  
Company  
Country  
% control  
% held  
method  
Steria Employee Trustee Company Ltd  
Steria Employee Trustee Company Ltd  
Xansa 2004 Employee Benefit Trust  
Zansa Ltd  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
Cyprus  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
CX Partners  
Xansa Cyprus (No. 1) Ltd  
Xansa Cyprus (No. 2) Ltd  
Xansa India Sez DP Ltd  
Steria India Ltd  
Sopra Steria Asia Pte Ltd  
Steria Malaysia  
Steria Hong Kong  
Sopra Steria China  
Xansa Inc.  
Cyprus  
India  
India  
Singapore  
Malaysia  
FC  
N/A  
N/A  
FC  
Hong Kong  
China  
Canada  
FC  
Other Europe  
Sopra Steria SE  
ISS Software GmbH  
Germany  
Germany  
Germany  
Germany  
Germany  
Bulgaria  
Austria  
100.00%  
100.00%  
100.00%  
51.00%  
100.00%  
100.00%  
100.00%  
51.00%  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
Sopra Steria Services GmbH  
Sopra Financial Technology GmbH  
it-economics GmbH  
it-economics Bulgaria EOOD  
Sopra Steria GmbH  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
Sopra Steria Benelux  
Belgium  
Luxembourg  
Netherlands  
Luxembourg  
Switzerland  
Italy  
Sopra Steria Benelux – Luxembourg branch  
Sopra Steria Benelux – Netherlands branch  
Sopra Steria PSF Luxembourg  
Sopra Steria AG  
Sopra Steria Group SpA  
Sopra Steria España SAU  
Sopra Steria Euskadi SL  
Sopra Group Catalunya SA  
Sopra Steria A/S  
Sopra Steria AS  
The Solid Group  
Sopra Steria AB  
Sopra Steria Sweden AB  
Kentor Holding AB  
Spain  
Spain  
Spain  
Denmark  
Norway  
Norway  
Sweden  
Sweden  
Sweden  
Russia  
Kentor OOO  
Sopra Banking Software  
Sopra Banking Software  
Cassiopae SAS – South Korea branch  
O.R. System do Brasil  
France  
South Korea  
Brazil  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
FC  
N/A  
N/A  
N/A  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
O.R. System Polska  
Poland  
Spain  
Sopra Financial Solutions Iberia SL  
Sopra Banking Software Ltd  
SBS 123 Ltd  
Field Solutions Investment Ltd  
Cassiopae Ltd  
Apak Group Ltd  
Apak Group Inc.  
Sopra Banking Software Belgium  
Sopra Banking Software – Iceland branch  
Sopra Banking Software Luxembourg  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United Kingdom  
United States  
Belgium  
Iceland  
Luxembourg  
FC  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
221
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
Consolidation  
method  
Company  
Country  
% control  
% held  
Sopra Banking Software Netherlands BV  
Sopra Banking Software GmbH  
Cassiopae Solutions Private Ltd  
Sopra Banking Software Singapore Pte Ltd  
Beijing Sopra Science and Technology Ltd  
Sopra Banking Software Morocco  
Cassiopae MEA  
Netherlands  
Germany  
India  
Singapore  
China  
Morocco  
Tunisia  
Cameroon  
United States  
Brazil  
100.00%  
100.00%  
99.90%  
100.00%  
100.00%  
100.00%  
100.00%  
95.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
99.60%  
100.00%  
100.00%  
99.90%  
100.00%  
100.00%  
100.00%  
100.00%  
95.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
99.60%  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
Sopra Software Cameroun  
Cassiopae US Inc.  
Sopra Banking Software Brasil Ltda  
Sopra Banking Gabon  
Sopra Banking Côte d’Ivoire  
Sopra Banking Software Sénégal  
SAB  
SAMIC  
SAB Med  
SAB Tunisie  
SAB Atlas  
SAB Pacifique  
Fidor Solutions AG  
Fidor FZCO  
Fidor Solutions Apac Pte Ltd  
Gabon  
Côte d’Ivoire  
Senegal  
France  
Monaco  
Lebanon  
Tunisia  
Morocco  
Polynesia  
Germany  
98.00%  
99.99%  
98.00%  
99.99%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
United Arab Emirates  
Singapore  
Other solutions  
Sopra HR Software  
France  
United Kingdom  
Belgium  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
66.67%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
100.00%  
66.67%  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
FC  
Sopra HR Software Ltd  
Sopra HR Software SPRL  
Sopra HR Software Sarl  
Sopra HR Software GmbH  
Sopra HR Software Sarl  
Sopra HR Software Srl  
Sopra HR Software SL  
Sopra HR Software Sarl  
Sopra HR Software Sarl  
Holocare AS  
Luxembourg  
Germany  
Switzerland  
Italy  
Spain  
Tunisia  
Morocco  
Norway  
France  
FC  
EM  
EM  
AXWAY  
32.38%  
32.38%  
FC: Fully consolidated  
EM: Equity method  
NC: Non-consolidated (non-consolidated companies are not considered significant)  
The Group does not directly or indirectly control any special-purpose entities.  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Notes to the consolidated financial statements  
NOTE 19
STATUTORY AUDITORS’ FEES  
Mazars network  
Nexia network  
2020  
2019  
2020  
2019  
(in millions of euros excl. VAT)
Certification of the parent company and consolidated  
financial statements  
Sopra Steria Group  
Fully consolidated subsidiaries  
0.5  
1.6  
0.5  
1.3  
0.3  
0.7  
0.3  
0.6  
Subtotal  
2.1  
1.9  
1.0  
0.9  
Services other than the certification of the accounts*  
Sopra Steria Group  
Fully consolidated subsidiaries  
0.1  
0.1  
0.3  
0.1  
0.0  
0.1  
0.0  
0.1  
Subtotal  
0.2  
0.4  
0.1  
0.1  
TOTAL STATUTORY AUDITORS’ FEES
2.3
2.2
1.1
1.0
(*) These services mainly relate to services performed in connection with the acquisition of entities (“due diligence”).  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Statutory Auditors’ report on the consolidated financial statements  
Statutory Auditors’ report on the consolidated financial  
statements  
To the General Meeting of Sopra Steria Group SA,  
Given  this  complex  and  changing  context  and  in  accordance  with  
the requirements of Articles L. 823-9 and R. 823-7 of the French  
Commercial Code relating to the justification of our assessments, we  
bring to your attention the key audit matters relating to the risks of  
material  misstatement  which,  according  to  our  professional  
judgment, were most significant for the audit of the consolidated  
financial statements for the financial year, as well as our responses  
to those risks.  
Opinion  
In  compliance  with  the  engagement  entrusted  to  us  by  the  
shareholders  at  your  General  Meetings,  we  have  audited  the  
accompanying  consolidated  financial  statements  of  Sopra Steria  
Group SA for the financial year ended 31 December 2020.  
These  matters  were  addressed  in  the  context  of  our  audit  of  the  
consolidated  financial  statements  as  a  whole  and  in  forming  our  
opinion thereon. We do not provide a separate opinion on specific  
items of the consolidated financial statements.  
We  certify  that  the  consolidated  financial  statements  are,  with  
respect to IFRS as adopted in the European Union, true and fairand  
provide  an  accurate  view  of  the  results  of  your  Company’s  
operations for the financial year under review and of the financial  
position and assets and liabilities, at the end of the financial year, of  
the group formed by the persons and entities included in the scope  
of consolidation.  
REVENUE RECOGNITION ON FIXED-PRICE CONTRACTS
(Note 4.1 to the consolidated financial statements)  
The above opinion is consistent our report to the Audit Committee.  
Risk identified  
Sopra Steria  Group,  one  of  Europe’s  key  players  in  digital  
transformation,  offers  end-to-end,  high-value-added  services  
comprising  consulting  and  systems  integration,  development  of  
industry-  and  technology-specific  solutions,  IT  infrastructure  
management, cybersecurity and business process services (BPS).  
Basis of our opinion  
AUDIT FRAMEWORK
We performed our assignment in accordance with the professional  
standards applicable in France. We believe that the audit evidence  
we have obtained is sufficient and appropriate to provide a basis for  
our audit opinion.  
The Group’s revenue to 31 December 2020 totalled €4.3 billion, a  
significant  portion  of  which  related  to  fixed-price  contracts.  
Fixed-price contracts are characterised by commitments relating to  
the price, the end result and the deadline.  
Our responsibilities under those standards are further described in  
the section of this report entitled Responsibilities of the Statutory  
Auditors  relating  to  the  audit  of  the  consolidated  financial  
statements”.  
As presented in Note 4.1 to the consolidated financial statements,  
revenue  from  services  performed  under  fixed-price  contracts  is  
recognised over time (and not at a specific point in time) using the  
percentage-of-completion method in the following two situations:  
the  services  are  performed  in  the  customer’s  environment  or  
p
enhance a customer’s asset. The customer obtains control as the  
asset is created or developed;  
INDEPENDENCE
We  performed  our  audit  in  accordance  with  independence  rules  
provided by the French Commercial Code and the French Code of  
Ethics for Statutory Auditors for the period from 1 January 2020 to  
the  date  our  report  was  issued,  and  in  particular  we  have  not  
provided  any  services  prohibited  by  Article 5,  paragraph 1  of  
Regulation (EU) No. 537/2014.  
the  contract  provides  for  the  development  of  highly  specific  
p
assets  in  the  Group’s  environment  (e.g.  solutions)  prior  to  
implementation  in  the  customer’s  infrastructure.  The  contract  
also provides for settlement of the value of such services in the  
event  of  termination  for  convenience  (where  the  customer  is  
entitled to do so). The Group has no alternative use for the asset  
created and has an enforceable right to payment for performance  
completed to date.  
JUSTIFICATION OF OUR ASSESSMENTS – KEY AUDIT
MATTERS
Revenue  and  profit  generated  over  time  from  these  services  is  
recognised  on  the  basis  of  a  qualified  estimate  of  the  level  of  
completion, measured as the difference between the contract value  
and the amount required to cover the total number of person-days  
remaining to be performed.  
The  global  crisis  caused  by  the  Covid-19  pandemic  has  created  
exceptional conditions for the preparation and audit of the financial  
statements  for  this  financial  year.  The  crisis  and  the  resulting  
emergency public health measures have had various consequences  
for  companies,  particularly  affecting  their  business  activity  and  
financing  and  giving  rise  to  greater  uncertainty  as  to  their  future  
outlook. Some of these measures, such as restrictions on movement  
and  remote  working,  have  also  had  an  impact  on  companies’  
internal organisation and affected how audits are carried out.  
We considered the recognition of revenue on fixed-price contracts  
as a key audit matter due to its significance in the Group’s financial  
statements  and  the  level  of  judgment  and  estimation  required  by  
management to determine the revenue and income on completion  
from these contracts.  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Statutory Auditors’ report on the consolidated financial statements  
Our response  
rate applied. We therefore considered the valuation of goodwill and  
the implementation of impairment testing to be a key audit matter.  
We  familiarised  ourselves  with  the  internal  control  procedures  
implemented by the Group and tested the key controls relating to  
determining income from fixed-price contracts.  
Our response  
Our work consisted primarily of:  
For  a  sample  of  contracts  deemed  material  due  to  their  financial  
impact and risk profile:  
reviewing the compliance of the methodology used by the Group  
p
with applicable accounting standards;  
we  reconciled  contractual  data,  including  any  contractual  
p
assessing whether the allocation of assets to CGUs is exhaustive  
p
changes  resulting  from  additional  requests  and  contractual  
claims, with management and accounting data;  
and complies with applicable accounting standards;  
assessing  the  reasonable  nature  of  assumptions  used  to  
p
we  talked  to  management  and  project  managers  in  order  to  
p
determine  future  cash  flows  in  relation  to  operating  data,  with  
regard  to  the  business  and  financial  context  for  the  Group’s  
operations, in particular the context of uncertainty caused by the  
Covid-19 public health crisis, and their consistency with the most  
recent estimates presented to the Board of Directors within the  
framework of budgetary processes;  
assess  the  reasonable  nature  of  the  estimates  made  by  
management and corroborate the estimated amount allocated to  
cover  the  total  number  of  person-days  remaining  to  be  
performed, particularly in comparison with prior estimates and by  
reviewing correspondence with the client and assessing whether  
this has been translated correctly into the accounts. In performing  
this  work  we  drew  on  experience  acquired  in  previous  financial  
years relating to similar contracts;  
check the calculation of goodwill recorded over the period;  
p
assessing, with the help of our valuation experts, the consistency  
p
for  contracts  subject  to  claims,  we  talked  to  the  Group’s  legal  
department and reviewed correspondence with the client in order  
to assess the estimates made by management.  
p
of the perpetual growth rate and the weighted average unit cost  
of capital in all components;  
analysing  the  sensitivity  of  the  value  in  use  determined  by  
p
We also used substantive checks on a sample of trade receivables  
and  accrued  income  in  order  to  assess  management’s  estimates  
relating to the prospect of recovering these receivables.  
management  to  a  change  in  the  main  assumptions  made,  
particularly for the Sopra Banking Software CGU.  
Lastly,  we  verified  that  Notes 2.1  and  8.1  to  the  consolidated  
financial statements provided appropriate information.  
VALUATION AND IMPAIRMENT OF GOODWILL
VALUATION AND IMPAIRMENT OF EQUITY-ACCOUNTED
INVESTMENTS
(Notes 2.1,  8.1.2  and  8.1.3  to  the  consolidated  financial  
statements)  
(Note 10.2 to the consolidated financial statements)  
Risk identified  
As at 31 December 2020, the net value of goodwill in the Group’s  
consolidated  financial  statements  was  €1,843.2 million,  equal  to  
40.6% of total assets.  
Risk identified  
As  at  31 December  2020,  the  net  value  of  equity-accounted  
investments  in  the  Group’s  consolidated  financial  statements  was  
€193.4 million, equal to 4.3% of total assets. These equity interests  
correspond to the Group’s stake in Axway Software.  
As  set  in  out  in  Notes 2.1,  8.1.2  and  8.1.3  to  the  consolidated  
financial statements, goodwill is allocated to cash-generating units  
(CGUs)  for  the  purposes  of  impairment  tests.  The  Group’s  
segmentation into CGUs is consistent with the operating structure  
of  its  businesses,  its  management  and  reporting  system,  and  its  
segment reporting. Impairment tests are performed whenever there  
is  an  indication  of  impairment,  and  in  any  event  at  the  balance  
sheet  date  of  31 December.  These  tests  consist  in  comparing  the  
CGU’s  carrying  amount  with  its  recoverable  amount,  which  
corresponds to the higher of (i) its fair value less costs of disposal  
and (ii) its value in use. An impairment loss is recognised whenever  
the  recoverable  amount  of  goodwill  is  lower  than  the  carrying  
amount the weighted average cost of capital.  
As explained in Note 10.2 to the consolidated financial statements,  
impairment tests are performed whenever there is an indication of  
impairment,  and  in  any  event  at  the  balance  sheet  date  of  
31 December.  These  tests  consist  in  comparing  the  carrying  
amount  of  equity-accounted  investments  with  their  recoverable  
amount, which corresponds to the higher of (i) their fair value less  
costs of disposal and (ii) their value in use:  
as Axway Software’s shares are listed, their fair value less costs of  
p
disposal is equal to market price less costs to sell;  
to  determine  the  value  in  use  of  equity-accounted  investments,  
p
management  primarily  uses  the  discounted  cash  flow  (DCF)  
method,  which  involves  the  use  of  key  assumptions  relating  to  
each asset category, including in particular the perpetual growth  
rate and the discount rate based on the weighted average cost of  
capital.  
As presented in Note 1.3 to the consolidated financial statements,  
the Covid-19 crisis had an impact on the estimates that the Group  
uses to value certain assets and liabilities. In particular, this ismainly  
relevant and structuring for the assumptions and estimates used to  
assess the recoverable amount of goodwill.  
An impairment loss is recognised whenever the recoverable amount  
of  equity-accounted  investments  is  lower  than  their  carrying  
amount.  
To determine the value in use of the CGU, management primarily  
uses the discounted cash flow (DCF) method, which involves the use  
of  key  assumptions  relating  to  each  asset  category,  including  in  
particular the perpetual growth rate and the discount rate based on  
the weighted average cost of capital.  
Determining  the  recoverable  amount  of  equity-accounted  
investments  is  primarily  based  on  management’s  judgment,  in  
particular  as  regards  the  perpetual  growth  rate  used  to  forecast  
cash flows and the discount rate applied. We therefore considered  
the  valuation  of  equity-accounted  investments  and  the  
implementation of impairment testing to be a key audit matter.  
Determining the recoverable amount of goodwill, which represents  
a particularly significant amount relative to total assets, is primarily  
based  on  management’s  judgment,  in  particular  as  regards  the  
perpetual growth rate used to forecast cash flows and the discount  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Statutory Auditors’ report on the consolidated financial statements  
Our response  
reviewing calculations made by the Group’s external actuaries.  
p
Our work consisted primarily of:  
As regards plan assets, we also assessed whether the assumptions  
made by management to value these assets and the documentation  
provided  by  management  to  justify  the  recognition  of  a  net  plan  
asset were appropriate.  
reviewing the compliance of the methodology used by the Group  
p
with applicable accounting standards;  
assessing  the  reasonable  nature  of  assumptions  used  to  
p
Lastly, we verified the appropriateness of the information provided  
in Note 5.3.1 to the consolidated financial statements.  
determine  future  cash  flows  in  relation  to  operating  data,  with  
regard  to  the  business  and  financial  context  for  the  Group’s  
operations, and their consistency with the most recent estimates  
presented  to  the  Board  of  Directors  within  the  framework  of  
budgetary processes;  
Specific verifications  
assessing, with the help of our valuation experts, the consistency  
of the perpetual growth rate and the weighted average unit cost  
of capital in all components;  
p
We  also  performed  the  specific  verifications  in  accordance  with  
professional standards applicable in France and required by law in  
relation  to  the  information  on  the  Group  contained  in  the  
Management Report of the Board of Directors.  
analysing  the  sensitivity  of  the  value  in  use  determined  by  
p
management to a change in the main assumptions made.  
We  have  no  matters  to  report  as  to  its  fair  presentation  and  its  
consistency with the consolidated financial statements.  
Lastly,  we  verified  that  Note 10.2  to  the  consolidated  financial  
statements provided appropriate information.  
We  certify  that  the  consolidated  statement  of  non-financial  
performance in accordance with Article L. 225-102-1 of the French  
Commercial  Code  is  provided  in  the  information  relating  to  the  
Group  in  the  Management  Report,  it  being  understood  that  in  
accordance with Article L. 823-10 of the French Commercial Code,  
the  information  contained  in  this  declaration  has  not  been  the  
subject  of  our  verifications  of  sincerity  or  of  consistency  with  the  
consolidated  financial  statements,  and  must  be  reported  by  an  
independent third party.  
POST-EMPLOYMENT BENEFITOBLIGATIONS
(Note 5.3.1 to the consolidated financial statements)  
Risk identified  
Post-employment  benefits  mainly  concern  the  Group’s  obligations  
towards its employees to provide retirement bonuses in France and  
defined-benefit pension plans in the United Kingdom, Germany and  
other European countries (Belgium and Norway). The actuarial value  
of  accumulated  benefits  as  at  31 December  2020  was  
€390.4 million.  
Report on Other Legal and Regulatory  
Requirements  
The  net  liability  in  respect  of  retirement  benefits  and  similar  
obligations was calculated at the balance sheet date based on the  
most  recent  valuations  available.  Since  these  liabilities  are  covered  
by plan assets with a fair value of 1,717.8 million, the net liability at  
31 December  2020  totalled  €380.1 million.  The  most  significant  
plan assets concern the United Kingdom and France.  
FORMAT OF PRESENTATION OF THE CONSOLIDATED
FINANCIAL STATEMENTS INTENDED TO BE INCLUDED IN
THE ANNUAL FINANCIAL REPORT
We have also verified, in accordance with the professional standard  
applicable  in  France  relating  to  the  procedures  performed  by  the  
statutory auditor relating to the annual and consolidated financial  
statements presented in the European single electronic format, that  
the presentation of the consolidated financial statements intended  
to be included15 in the annual financial report mentioned in Article  
L.  451-1-2,  I  of  the  French  Monetary  and  Financial  Code  (code  
monétaire et financier), prepared under the responsibility of …16 ,  
complies with the single electronic format defined in the European  
Delegated  Regulation  No  2019/815  of  17  December  2018.  As  it  
relates  to  consolidated  financial  statements,  our  work  includes  
verifying that the tagging of these consolidated financial statements  
complies with the format defined in the above delegated regulation.  
Based  on  the  work  we  have  performed,  we  conclude  that  the  
presentation of the consolidated financial statements intended to be  
included15  in  the  annual  financial  report  complies,  in  all  material  
respects, with the European single electronic format.  
Valuing pension plan assets and liabilities, as well as the actuarial  
cost  for  the  financial  year,  requires  a  high  level  of  judgment  by  
management  to  determine  appropriate  assumptions  to  be  made,  
such as the discount rate, inflation, future pay rises, staff turnover  
and mortality tables.  
The  change  in  some  of  these  assumptions  may  have  a  material  
impact on determining the net liability recognised as well as on the  
Group’s profit.  
In  view  of  the  amounts  represented  by  these  obligations  and  
associated  plan  assets,  as  well  as  the  technical  skill  required  to  
evaluate  these  amounts,  we  considered  this  type  of  
post-employment benefit obligations to be a key audit matter.  
Our response  
We  familiarised  ourselves  with  the  process  for  valuing  
post-employment benefit obligations implemented by the Group. A  
review of actuarial assumptions was performed by:  
We  have  no  responsibility  to  verify  that  the  consolidated  financial  
statements that will ultimately be included by your company in the  
annual  financial  report  filed  with  the  AMF  are  in  agreement  with  
those on which we have performed our work.  
assessing the discount rate and inflation in order to evaluate their  
p
consistency with market conditions;  
assessing  the  reasonable  nature  of  assumptions  relating  to  pay  
p
rises,  staff  turnover  and  mortality  in  order  to  evaluate  their  
consistency  with  the  specific  characteristics  of  each  plan  and,  
where applicable, with national and sector benchmarks;  
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2020 CONSOLIDATED FINANCIAL STATEMENTS  
Statutory Auditors’ report on the consolidated financial statements  
may be due to fraud or error and are considered material when it  
can  reasonably  be  expected  that  they  may,  taken  individually  or  
combined,  influence  the  financial  decisions  of  users  made  on  the  
basis of the financial statements.  
APPOINTMENT OF STATUTORY AUDITORS
Mazars was appointed Statutory Auditor of Sopra Steria Group SA  
by  the  shareholders  at  the  General  Meeting  of  1 June  2000,  and  
Auditeurs  et  Conseil  Associés   ACA  Nexia  by  the  shareholders  at  
the General Meeting of 30 June 1986.  
As specified in Article L. 823-10-1 of the French Commercial Code,  
our  assignment  of  certifying  the  financial  statements  does  not  
consist  of  guaranteeing  the  viability  or  quality  of  your  Company’s  
management.  
As at 31 December 2020, Mazars was in its 21st consecutive year  
as Statutory Auditor and Auditeurs et Conseil Associés – ACA Nexia  
was in its 35th consecutive year as Statutory Auditor, respectively  
21 years and 31 years since the Company’s shares were first listed  
for trading on a regulated market.  
Within  the  framework  of  an  audit  performed  in  accordance  with  
professional  standards  applicable  in  France,  the  Statutory  Auditor  
uses  its  professional  judgment  throughout  the  audit  process.  In  
addition:  
Responsibility of management  
andpersons charged with governance  
in relation to the consolidated financial  
statements  
It is management’s responsibility to prepare consolidated financial  
statements that give a true and fair view in accordance with IFRS as  
adopted  by  the  European  Union,  as  well  as  to  implement  the  
internal  controls  it  deems  necessary  to  prepare  consolidated  
financial statements that are free of material misstatement, whether  
due to fraud or error.  
it  identifies  and  assesses  the  risk  of  the  consolidated  financial  
p
statements  containing  material  misstatements,  whether  due  to  
fraud or error, defines and implements audit procedures in light  
of these risks, and collects evidence that it deems sufficient and  
appropriate to form a basis for its opinion. The risk of failure to  
detect a material misstatement due to fraud is higher than in the  
case  of  a  material  misstatement  due  to  error,  as  fraud  may  
involve  collusion,  falsification,  deliberate  omissions,  false  
statements or circumvention of internal control procedures;  
it familiarises itself with internal controls relevant for the audit in  
p
order  to  define  appropriate  audit  procedures  under  the  
circumstances, and not with the aim of expressing an opinion on  
the effectiveness of internal control procedures;  
On  preparing  the  consolidated  financial  statements,  it  is  up  to  
management to assess the Company’s ability to continue as a going  
concern,  and  to  present  in  the  financial  statements,  if  applicable,  
any  necessary  information  relating  to  the  continuity  of  operations  
and apply the going concern assumption unless it is planned that  
the Company will be liquidated or cease trading.  
it  assesses  the  appropriateness  of  accounting  policies  used  and  
p
the  reasonable  nature  of  accounting  estimates  made  by  
management, as well as associated information provided in the  
consolidated financial statements;  
it  assesses  the  appropriateness  of  management’s  application  of  
p
It  is  the  responsibility  of  the  Audit  Committee  to  monitor  the  
process  of  preparing  financial  information  and  monitor  the  
effectiveness  of  internal  control  and  risk  management  systems,  as  
well  as  internal  audit,  where  applicable,  as  regards  procedures  
relating  to  the  preparation  and  processing  of  accounting  and  
financial information.  
the  going  concern  principle  and,  depending  on  the  evidence  
collected, whether or not any material uncertainty exists relating  
to  events  or  circumstances  that  may  call  into  question  the  
Company’s  ability  to  continue  as  a  going  concern.  This  
assessment  relies  on  evidence  collected  up  to  the  date  of  its  
report, noting that subsequent circumstances or events may call  
into question the continuity of operations. If it concludes that a  
material uncertainty exists, it shall draw readers’ attention to the  
information  provided  in  the  consolidated  financial  statements  
relating to this uncertainty or, if this information is notprovided  
or is not relevant, it shall give a qualified certification or refuse to  
certify the financial statements;  
The  consolidated  financial  statements  have  been  approved  by  the  
Board of Directors.  
Responsibilities of the Statutory  
Auditors relating to the audit  
oftheconsolidated financial statements  
it  assesses  the  overall  presentation  of  the  consolidated  financial  
p
statements  and  evaluates  whether  the  consolidated  financial  
statements  reflect  underlying  transactions  and  events  in  a  way  
that gives a true and fair view;  
AUDIT AIM AND APPROACH
as  regards  financial  information  from  persons  or  entities  within  
p
It  is  our  responsibility  to  prepare  a  report  on  the  consolidated  
financial statements. Our aim is to obtain reasonable assurance that  
the consolidated financial statements taken as a whole are free of  
material misstatement. Reasonable assurance corresponds to a high  
level of assurance, although this does not guarantee that an audit  
performed in accordance with professional standards systematically  
allows for all material misstatements to be detected. Misstatements  
the scope of consolidation, it collects information that it deems  
sufficient  and  appropriate  to  express  an  opinion  on  the  
consolidated  financial  statements.  It  is  responsible  for  the  
management,  supervision  and  performance  of  the  audit  of  the  
consolidated financial statements as well as the opinion expressed  
on these financial statements.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
227
5
2020 CONSOLIDATED FINANCIAL STATEMENTS  
Statutory Auditors’ report on the consolidated financial statements  
been the most significant for our audit of the consolidated financial  
statements for the financial year and which therefore constitute key  
audit matters, which it is our duty to describe in this report.  
REPORT TO THE AUDIT COMMITTEE
We send a report to the Audit Committee setting out in particular  
the scope of our audit work and the programme of works carried  
out,  as  well  as  the  conclusions  of  our  work.  We  also  bring  to  its  
attention,  if  applicable,  any  significant  weaknesses  in  internal  
control  procedures  that  we  have  identified  as  regards  procedures  
relating  to  the  preparation  and  treatment  of  accounting  and  
financial information.  
We also provide the Audit Committee with the declaration required  
by  Article 6  of  Regulation  (EU)  No. 537-2014  attesting  to  our  
independence with the meaning of applicable regulations in France  
as set out in particular by Articles L. 822-10 to L. 822-14 of the  
French  Commercial  Code  and  in  the  French  Code  of  Ethics  for  
Statutory  Auditors.  If  applicable,  we  shall  discuss  with  the  Audit  
Committee  the  risks  to  our  independence  and  safeguarding  
measures implemented.  
The  information  provided  in  the  report  to  the  Audit  Committee  
includes  risks  of  material  misstatement,  which  we  deem  to  have  
Paris and Courbevoie, 04 March 2021  
The Statutory Auditors  
Aca Nexia  
Mazars  
Olivier Juramie  
Bruno Pouget  
(1) This  is  a  translation  into  English  of  the  statutory  auditors’  report  on  the  consolidated  financial  statements  of  the  Company  issued  in  French  and  it  is  provided  solely  for  the  
convenience  of  English  speaking  users.This  statutory  auditors’  report  includes  information  required  by  European  regulation  and  French  law,  such  as  information  about  the  
appointment of the statutory auditors or verification of the information concerning the Group presented in the management report. This report should be read in conjunction with,  
and construed in accordance with, French law and professional auditing standards applicable in France.  
228  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6. 2020 Parent Company  
Financial Statements  
Income statement
230
Balance sheet
231
Cash flow statement
Company description
232
233
1.  
Significant events
233
233  
233  
233  
2.  
2.1.
Impact of the Covid-19 crisis  
Impact of the cyberattack  
Acquisition of the Sodifrance group  
2.2.
2.3.
Accounting policies
234
3.  
Notes to the income statement
Operating income  
234
234  
4.  
4.1.
4.2.
4.3.
4.4.
4.5.
Staff costs and employee benefits  
Financial items  
236  
237  
238  
238  
Exceptional items  
Corporate income tax  
Notes to the balance sheet
240
240  
244  
246  
246  
248  
252  
5.  
5.1.
Non-current assets  
5.2.
5.3.
5.4.
5.5.
5.6.
Other assets  
Equity  
Provisions for contingencies and losses  
Other liabilities  
Maturities of receivables and payables at the balance sheet date  
Other information
254
254  
254  
255  
255  
256  
257  
6.  
6.1.
Information on finance leases  
6.2.
6.3.
6.4.
6.5.
6.6.
Off-balance sheet commitments  
Exceptional events and legal disputes  
Subsequent events  
Summary for the last five financial years  
Maturity schedule of trade payables and receivables  
Statutory Auditors’ report on the parent company financial statements
Statutory Auditors’ special report on related-party agreements
258
262
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
229
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Income statement  
Income statement  
Notes  
2020  
2019  
(in thousands of euros)
Net revenue  
Other operating income  
4.1.1  
1,512,781  
61,500  
1,651,461  
56,830  
Operating income  
1,574,281  
550,186  
901,396  
3,319  
1,708,291  
602,261  
922,005  
7,348  
Purchases consumed  
Staff costs  
Other operating expenses  
Taxes and duties  
36,709  
35,269  
Depreciation, amortisation, provisions and impairment  
24,239  
35,017  
Operating expenses  
1,515,849  
1,601,901  
Operating profit  
58,432  
106,390  
Financial income and expenses  
Pre-tax profit on ordinary activities  
4.3  
60,667  
43,006  
119,099  
5,455  
-3,112  
20,835  
149,396  
647  
-17,678  
14,713  
Exceptional income and expenses  
Employee profit-sharing and incentives  
Corporate income tax  
4.4  
4.2.1  
4.5  
NET PROFIT
142,276
147,078
230  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Balance sheet  
Balance sheet  
ASSETS  
Depreciation,  
amortisation  
and  
Notes  
Gross value  
impairment  
2020  
2019  
(in thousands of euros)
Intangible assets  
Property, plant and equipment  
Financial investments  
5.1.1  
5.1.2  
5.1.3  
222,745  
151,714  
1,996,749  
102,366  
99,651  
15,925  
120,379  
52,063  
1,980,824  
122,692  
56,615  
1,955,777  
Non-current assets  
2,371,208  
3,086  
332,211  
469,887  
165,014  
217,942  
2,153,266  
3,086  
331,994  
469,840  
165,014  
2,135,083  
3,882  
412,745  
310,287  
150,658  
Inventories and work in progress  
5.2.1  
5.2.2  
5.2.3  
-
217  
47  
-
Trade receivables and related accounts  
Other receivables, prepayments and accrued income  
Cash and cash equivalents  
Current assets  
970,198  
565  
264  
969,934  
565  
877,573  
654  
Debt issuance costs  
Foreign currency translation losses  
5.2.5  
5.2.5  
-
-
127  
127  
3,469  
TOTAL ASSETS
3,342,099
218,206
3,123,892
3,016,779
LIABILITIES AND EQUITY  
Notes  
2020  
2019  
(in thousands of euros)
Share capital  
Share premium  
Reserves  
Profit for the year  
Regulated provisions  
20,548  
531,477  
585,567  
142,276  
-
20,548  
531,477  
438,489  
147,078  
-
Equity  
5.3  
1,279,867  
1,137,592  
Provisions  
5.4  
5.5.1  
5.5.3  
5.5.4  
5.5.5  
121,432  
872,608  
121,233  
286,753  
435,253  
128,160  
918,804  
145,291  
314,404  
366,543  
Financial debt  
Trade payables and related accounts  
Tax and social security payables  
Other liabilities, accruals and deferred income  
Liabilities  
1,715,847  
6,746  
1,745,042  
5,985  
Foreign currency translation gains  
5.5.7  
Total liabilities and equity  
3,123,892  
3,016,779  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
231
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Cash flow statement  
Cash flow statement  
Notes  
2020  
2019  
(in thousands of euros)
Profit for the year  
142,276  
147,078  
Non-monetary items with no cash impact  
Depreciation and amortisation of property, plant and equipment, intangible assets and  
financial investments  
Gains and losses on disposal of assets  
p
5.1  
17,061  
-
12,511  
-2,675  
p
Changes in working capital requirements  
Change in provisions and other non-monetary items  
Change in inventories  
-6,706  
796  
5,365  
763  
p
p
Change in trade receivables  
Change in other receivables (excluding receivables on disposals of assets)  
Change in trade payables (excluding payables on purchases of assets)  
Change in other payables  
80,816  
-65,433  
-24,080  
-25,894  
-88,481  
-21,485  
7,972  
p
p
p
23,942  
p
Net cash from operating activities  
118,836  
-6,252  
-708  
84,990  
-8,345  
433  
Purchase of property, plant and equipment and intangible assets  
Change in trade payables on fixed assets  
5.1.1 and 5.1.2  
Proceeds from sale of property, plant and equipment and intangible assets  
Purchase of long-term investment securities  
Change in payables on securities  
Proceeds from sale of equity interests  
Change in other financial investments  
-
-
5.1.3  
5.5.5  
-63,671  
1,965  
3,917  
-4,614  
-37,024  
9,350  
4,260  
1,777  
Net cash from/(used in) investing activities  
-69,363  
110,018  
-90,635  
-55,000  
-
-29,549  
250,000  
-204,223  
-40,677  
-
-37,953  
8,979  
12,556  
Issuance of long-term borrowings  
Repayment of long-term borrowings  
Increase/(Decrease) in short-term borrowings  
Changes in share capital  
Dividends paid  
5.5.1  
5.5.1  
5.5.1  
5.3.1  
5.3.1  
-
Change in Group current accounts and cash accounts related to the notional cash pool  
Change in long-term financial receivables  
-38,202  
37,668  
5.1.3  
Net cash from/(used in) financing activities  
-36,151  
-11,317  
Net change in cash (excluding cash accounts related to the notional cash pool)  
13,322  
132,458  
145,780  
44,123  
88,335  
132,458  
Opening cash position (excluding cash accounts related to the notional cash pool)  
Closing cash position (excluding cash accounts related to the notional cash pool)  
232  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Company description  
1.
Company description  
Sopra Steria  Group  is  the  parent  company  of  the  Sopra Steria  
group.  
It  implements  the  Group’s  funding  policy,  and  as  such  ensures  
that the funding requirements of its subsidiaries are met. It also  
centrally manages market risks to which it and its subsidiaries are  
exposed.  
Its  registered  office  is  located  at  3  Rue  du  Pré  Faucon  in  
Annecy-le-Vieux (France), where its consolidated financial statements  
may be consulted.  
it operates in consulting, systems integration, software and other  
solutions mainly delivered in France.  
p
It performs a number of roles:  
it  operates  as  a  holding  company,  holding  financial  interests  
p
through  which  it  has  direct  or  indirect  control  over  Group  
companies;  
2.
Significant events  
The crisis has also affected the estimates the Company uses to measure  
certain assets, liabilities, income and expenses. In particular, this is mainly  
relevant and decisive for the assumptions and estimates used to measure  
the  recoverable  amount  of  intangible  assets  (primarily  goodwill  and  
technical merger losses) and non-current financial assets.  
2.1. Impact of the Covid-19 crisis  
The Covid-19 pandemic has caused major operational difficulties in  
terms  of  business  continuity,  organisational  adaptation,  personal  
health  and  safety  and  compliance  with  public  health  measures.  It  
has  had  an  impact  on  the  entity’s  parent  company  financial  
statements  and  the  Group’s  consolidated  financial  statements,  as  
well as on the estimates it uses to measure certain assets, liabilities,  
income and expenses, and on liquidity risk.  
2.2. Impact of the cyberattack  
On 21 October 2020, the Company announced it had detected a  
cyberattack  using  a  previously  unknown  version  of  the  Ryuk  
ransomware.  
In terms of the presentation of the financial statements, theentity’s  
and  the  Group’s  performance  was  broadly  affected  across  all  the  
lines  of  its  income statement.  In  France,  neither  the  Autorité  des  
Marchés Financiers (AMF) nor the Autorité des Normes Comptables  
(ANC)  recommend  using  non-recurring  profit  or  loss  line  items  to  
systematically  recognise  the  consequences  of  Covid-19.  Instead,  
they recommend providing a targeted line-by-line explanation in the  
notes,  and  only  using  non-recurring  profit  or  loss  line  items  to  
recognise the income and expenses that are usually recorded there.  
This  attack  was  rapidly  blocked  thanks  to  in-house  IT  and  
cybersecurity teams.  
The Company also immediately took measures to contain its spread  
and launch a remediation plan.  
Additional information on the accounting treatment is provided in  
Note 4.4.  
As such, the Company recognised the entire impact of operations  
not running at full capacity due to the crisis within Operating profit.  
This impact included the suspension or discontinuation of contracts  
with customers, partially offset by a reduction in staff costs related  
to the implementation of furlough measures and by the reduction  
in  certain  expense  items,  such  as  travel  expenses.  Moreover,  it  
implemented reorganisation and restructuring measures, the impact  
of which was recognised within Exceptional income and expenses  
(see Note 4.4), in addition to the measures that had already been  
decided upon prior to the crisis.  
2.3. Acquisition of the Sodifrance  
group  
The  Company  acquired  the  entire  share  capital  of  the  Sodifrance  
group for €60.502 million during the financial year.  
The acquisition was completed in two stages:  
on 16 September 2020, it bought a 94.03% controlling interest  
p
in the share capital;  
Lastly,  the  Company  incurred  additional  logistics  costs  to  allow  
employees  to  work  remotely  and  to  address  the  health-related  
issues  social distancing in particular  at all of its offices. These  
non-recurring,  unusual  additional  costs  were  also  treated  as  
exceptional items (see Note 4.4).  
during November, it purchased the 5.97% free float after filing a  
simplified public tender offer on 5 October 2020.  
p
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
233
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Accounting policies  
3.
Accounting policies  
The financial statements for the period under review were prepared  
and  are  presented  in  accordance  with  the  accounting  methods  in  
force within the Group and in compliance with the principles laid  
down  in  articles 121–1  and 121-5  et  seq.  of  France’s  2014  
National Chart of Accounts (Plan Comptable Général).  
The  Covid-19  crisis  did  not  have  any  impact  on  the  Company’s  
ability to continue as a going concern or on that of the Group to  
which it belongs. The Group’s going concern status is underpinned  
by the fact that it has arranged credit lines comfortably exceeding  
its requirements.  
Accounting conventions have been applied in accordance with the  
provisions  of  the  French  Commercial  Code  and  ANC  
Regulation 2019-09  on  the  revision  of  the  national  chart  of  
accounts applicable at the period-end.  
No  changes  were  made  to  accounting  policies  during  the  periods  
under review.  
Foreign currency income and expense items are recorded at their euro  
equivalent at the transaction date.  
Generally accepted accounting principles were applied on a prudent basis  
and in accordance with the following underlying assumptions:  
Foreign currency receivables and payables are recorded in the balance  
sheet at their euro equivalent determined using the closing exchange  
rate.  Any  gains  or  losses  arising  on  the  retranslation  of  foreign  
currency receivables and payables are recorded in the balance sheet  
under Translation adjustments.  
going concern basis;  
p
consistency of accounting methods from one year to the next;  
p
accrual basis; and  
p
The  Company  also  prepares  consolidated  financial  statements.  
The Group  consists  of  Sopra Steria  Group  (the  parent  company)  
and its subsidiaries as well as the Group’s share in associates.  
in  accordance  with  general  guidelines  for  the  preparation  and  
p
presentation of parent company financial statements.  
4.
Notes to the income statement  
4.1. Operating income  
4.1.1. REVENUE
REVENUE BREAKS DOWN AS FOLLOWS BY VERTICAL MARKET:  
2020  
2019  
Services  
Manufacturing  
Finance  
Public Sector  
Telecoms Media  
Distribution  
24.2%  
25.0%  
17.4%  
23.4%  
7.5%  
24.8%  
26.3%  
18.1%  
20.5%  
7.4%  
2.5%  
2.9%  
TOTAL
100.0%
100.0%
Of the €1,512.781 million of revenue generated in 2020, €98.619 million derived from international operations.  
234  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the income statement  
Costs of obtaining and fulfilling a contract  
Revenue from implementation, consulting and assistance services  
provided on a time-and-materials basis; outsourcing; infrastructure  
management; and third-party application maintenance (corrective  
maintenance)  is  recognised,  in  accordance  with  the  general  
principles,  when  the  customer  simultaneously  receives  and  
consumes the benefits of the service. Revenue is recognised based  
on time spent or another billable unit of work.  
p
The costs of obtaining a contract are capitalised in assets if two  
p
conditions are met: they would not have been incurred had the  
contract not been obtained, and they are recoverable. They can  
include  sales  commissions  if  these  are  specifically  and  solely  
linked to obtaining a contract and were not therefore granted  
in a discretionary manner.  
Services covered by fixed-price contracts  
Costs of fulfilling a contract: Transition/transformation phases of  
p
third-party  
application  
maintenance,  
infrastructure  
Revenue  and  profit  generated  by  services  performed  under  
p
management and outsourcing contracts, preparatory phase for  
licences in SaaS mode.  
fixed-price contracts are recognised based on a technical estimate  
of the degree of completion.  
The costs of fulfilling or implementing a contract are costs directly  
related  to  the  contract,  which  are  necessary  to  satisfying  
performance  obligations  in  the  future  and  are  expected  to  be  
recovered.  They  do  not  meet  the  criteria  defined  in  the  general  
principles to constitute a distinct performance obligation.  
Licences  
p
p
Should the analysis of a contract in accordance with the general  
p
principles  identify  the  delivery  of  a  licence  as  a  distinct  
performance  obligation,  control  is  transferred  to  the  customer  
either  at  a  point  in  time  (grant  of  a  right  to  use),  or  over  time  
(grant of a right to access).  
Certain  third-party  application  maintenance,  infrastructure  
management or outsourcing contracts may include transition and  
transformation  phases.  In  basic  contracts,  these  activities  are  
combined for the purpose of preparing the operating phase. They  
are not distinct from subsequent services to be rendered. In this  
case,  they  represent  costs  to  implement  the  contract.  They  are  
capitalised  and  recognised  in  Inventories  and  work  in  progress  
(Other current assets).  
A right to access corresponds to the development of solutions in  
p
SaaS mode. Changes at any time made by the developer to the  
solution  that  expose  the  customer  to  any  positive  or  negative  
effects  do  not  represent  a  service  for  the  customer.  In  this  
situation,  revenue  is  recognised  as  and  when  the  customer  
receives and consumes the benefits provided by performance. If  
the  nature  of  the  licence  granted  to  the  customer  does  not  
correspond to the definition of a right to access, it is a right to  
use. In this situation, revenue from the licence shall be recognised  
on  delivery  when  all  the  obligations  stipulated  in  the  contract  
have been met.  
Conversely,  in  more  complex  or  sizeable  contracts,  the  
transformation phase is often longer and more significant. This  
generally  occurs  prior  to  operations  or  parallel  to  temporary  
operations  to  define  a  target  operating  model.  In  these  
situations, it represents a distinct performance obligation.  
p
p
p
Principal/Agent distinction  
Licences  in  SaaS  mode  require  preparatory  phases  (functional  
integration, set-up of the technical environment) in order to reach  
a  target  operating  phase.  These  are  not  distinct  performance  
obligations but represent costs to implement the contract that are  
capitalised and recognised in Inventories and work in progress.  
Should  the  analysis  of  a  contract  identify  the  resale  of  goods  or  
p
services  as  a  separate  performance  obligation,  it  must  be  
determined  whether  the  Company  is  acting  as  an  agent  or  a  
principal.  It  is  acting  as  an  agent  if  it  is  not  responsible  to  the  
customer  for  satisfying  the  performance  obligation  and  for  the  
customer’s acceptance, if there is no transformation of the goods  
or services and there is no inventory risk. In this situation, revenue is  
recognised for a net amount corresponding to the agent’s margin  
or a commission. Otherwise, where it obtains control of the good  
or service prior to its transfer to the end-customer, it is acting as a  
principal. Revenue is recognised for the gross amount and external  
purchases are recorded in full as an operating expense.  
The costs of fulfilling or implementing a contract capitalised in  
Inventories and work in progress are released to profit or loss in  
a  pattern  consistent  with  revenue  recognition  and  never  give  
rise to the recognition of revenue.  
Production, consulting and assistance services provided on a  
time-and-materials  basis;  outsourcing;  infrastructure  
management;  and  third-party  application  maintenance  
(corrective maintenance)  
4.1.2. EXPENSES TRANSFERRED
Expenses transferred in financial year 2020 amounted to €51.405 million.  
They mainly consisted of transfers from one expense account to another, as well as intercompany rebilling of structur costs initially recognised by  
Sopra Steria as part of its management of certain contracts and Group employee share ownership plans.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
235
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the income statement  
4.2.2. FREE PERFORMANCE SHARE PLANS
AS A LONG-TERM INCENTIVE
4.2. Staff costs and employee  
benefits  
At  the  Combined  General  Meeting  of  Sopra Steria  Group  on  
12 June 2019, the shareholders authorised the Board of Directors  
to  award  free  performance  shares  in  the  Company  to  employees  
and/or executive company officers, for up to a maximum of 3% of  
the  Company’s  share  capital  on  the  date  on  which  the  Board  of  
Directors decides to make the award.  
4.2.1. EMPLOYEE PROFIT-SHARING AND INCENTIVES
The amount of legally prescribed employee profit-sharing was nil in  
financial year 2020, since net taxable profit equated to less than 5%  
of equity.  
As  such,  this  item  only  comprised  an  expense  relating  to  employee  
incentives for a total of €3.112 million..  
At maturity, the Board of Directors may decide whether to issue new  
shares or buy back existing shares to fund these plans.  
Performance shares are delivered to recipients provided they meet  
the requisite presence and performance conditions on conclusion of  
the  vesting  period.  Performance  conditions  are  measured  by  
changes  over  three  years  in  operating  profit  on  business  activity,  
consolidated revenue and consolidated free cash flow.  
In 2020, two multi-year free performance share plans  known as  
the 2017 and 2018 LTI (long-term incentive) plans – were in force.  
The 2017 LTI plan expired in March 2020.  
Plan Sopra Steria  
Plan LTI 2017 (1)  
Plan LTI 2018 (1)  
Date of General Meeting  
22/06/2016  
22/06/2016  
24/02/2017  
25/10/2017  
Date granted by the Board of Directors  
Total number of shares in awards granted, not subject to conditions  
Number of shares granted to:  
16/02/2018  
128,000  
109,000  
Company officers  
3,000  
3,000  
p
Top ten employee grantees  
20,000  
21,000  
p
Vesting date  
France  
Other countries  
31/03/2020  
31/03/2020  
63,937  
-
31/03/2021  
31/03/2021  
p
p
Number of potential shares that could have been granted as at 1 January 2020  
Granted in 2020  
Awards cancelled in 2020  
Vested at 31/12/2020  
78,572  
-
10,892  
-
4,205  
59,732  
SHARES REMAINING AT 31 DECEMBER 2020
-
67,680
(1) Plan with conditional grant depending on the recipient’s continued employment and performance conditions as measured by changes over three years in operating profit on business activity,  
consolidated revenue and consolidated free cash flow.  
The actual staff expense is not recognised until the date shares  
are  delivered  under  the  plan.  This  expense  is  measured  at  the  
purchase cost of the vested free shares.  
intention  to  award  shares  bought  back  is  established.  This  
provision  is  reassessed  at  each  balance  sheet  date  taking  into  
account the opening cost of the shares on the date they were  
assigned to the plan or the cost of shares yet to vest, measured  
on the basis of the share price at the balance sheet date, and  
the probability that the plans will be implemented at the stated  
terms.  
p
p
For  multi-year  plans  contingent  upon  performance  and/or  
presence  conditions,  a  provision  for  contingencies  is  set  aside  
on a straight-line basis over the vesting period in recognition of  
the  probable  outflow  of  resources  when  the  decision  or  
236  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the income statement  
4.2.3. RETIREMENT BENEFIT OBLIGATIONS: AMOUNT RECOGNISED IN THE INCOME STATEMENT
The calculation assumptions for this obligation were as follows:  
voluntary retirement age: 65;  
p
p
p
p
p
each employee is entitled to a retirement bonus;  
salary increase rate: 2.5%;  
p
the  amount  payable  is  calculated  as  set  out  in  the  collective  
staff turnover: 0% to 15.60%;  
social security contribution rate: 44.5%;  
discount rate: 0.44%.  
p
bargaining  agreement  covering  the  category  of  employees  in  
question;  
AMOUNTS RECOGNISED IN THE INCOME STATEMENT  
31/12/2020  
31/12/2019  
(in thousands of euros)
Current service cost  
Interest on obligation  
Past service cost  
5,780  
690  
193  
5,233  
1,320  
220  
TOTAL RECOGNISED UNDER OPERATING EXPENSES
6,662
6,774
Net liability at the beginning of the period (with corridor)  
Net expense recognised in the income statement  
Benefits provided  
73,170  
6,662  
-2,169  
-
67,798  
6,774  
-1,402  
-
Intercompany transfers and partial transfers of assets  
NET LIABILITY AT THE END OF THE PERIOD
77,663
73,170
4.2.4. OTHER INFORMATION
a. Workforce  
c. Payments received in connection with furlough measures  
related to the Covid-19 crisis  
The average workforce in 2020 was 13,207 employees.  
The workforce at 31 December 2020 totalled 12,848 employees.  
Furlough  measures  were  implemented  as  a  result  of  the  Covid-19  
crisis  in  France.  The  amounts  received  from  government  were  
recognised as a deduction to personnel expenses and amounted to  
€2.439 million.  
b. Compensation of Directors and company officers  
Directors’ fees paid in 2020 in respect of financial year 2019 amounted  
to €500 thousand.  
The  total  base  salary  amount  exempted  from  social  security  
contributions came to €2.938 million.  
Compensation paid in 2020 to company officers totalled €1.282 million.  
4.3. Financial items  
Notes  
2020  
2019  
(in thousands of euros)
Dividends received from equity interests  
Interest on bank borrowings and similar charges  
Interest on employee profit-sharing  
5.3.1.c  
53,842  
-6,757  
-
52,510  
-9,669  
-36  
Discounting of the pension provision  
-690  
-1,320  
2,193  
-7,093  
2,295  
4,128  
Interest received and paid on Group current accounts  
Positive and negative foreign exchange impact (including provision)  
Impairment of equity interests  
2,938  
11,685  
-3,944  
3,593  
5.3.1.b  
Other financial income and expenses  
NET FINANCIAL INCOME
60,667
43,006
Foreign exchange gains and losses mainly arise from transactions carried out in pounds sterling, Norwegian kroner and US dollars. In 2020,  
this item was mainly affected by the revaluation of financial debt outstanding denominated in pounds sterling.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
237
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the income statement  
4.4. Exceptional items  
Notes  
2020  
2019  
(in thousands of euros)
Scrapping of fixed assets  
-119  
-
-62  
4,745  
-8,108  
-
-
2,675  
639  
580  
-6,744  
172  
Disposal of financial investments  
Gains or losses on treasury share transactions  
Provisions for tax risks  
Reorganisation costs  
Accelerated depreciation and amortisation  
Other  
5.4.2  
8,998  
3,324  
EXCEPTIONAL ITEMS
5,455
647
The main movements in exceptional income and expenses in 2020  
were as follows:  
The  company  is  covered  against  the  risk  generated  by  the  
cyberattack.  The  damage  suffered  during  this  event  exceed  the  
reimbursement limit of these insurance policies. The company has  
estimated that the amount receivable will be equal to this ceiling  
and has recognized it against the costs incurred.  
p
reorganisation costs: €8.108 million;  
p
reversal of a provision for the risk of tax audits of prior financial  
p
years: €4.745 million;  
Exceptional  items  are  items  that  do  not  arise  from  the  
Company’s  day-to-day  operations,  either  because  they  are  
unusual  in  amount  or  impact  or  because  they  are  abnormal,  
non-predictive and infrequent.  
costs related to the Covid-19 crisis: €2.579 million.  
p
costs directly related to the cyberattack on the Company during  
the fiscal year:  
p
employee and subcontractor downtime due to operations not  
running at full capacity;  
internal and external remediation.  
4.5. Corporate income tax  
However,  given  the  provisions  laid  down  in  agreements  with  
subsidiaries, tax savings recognised by the parent company during  
the  financial  year,  arising  from  the  use  of  tax  losses  and  net  
long-term  capital  losses  reported  by  consolidated  companies,  are  
only  temporary,  since  they  will  be  taken  into  account  by  
consolidated  companies  when  they  determine  their  taxes  for  
subsequent financial years.  
4.5.1. TAX CONSOLIDATION
Sopra Steria Group and some of its subsidiaries have opted to file  
as a tax consolidation group. Each of the companies computes and  
recognises its own income tax charge as if it were taxed separately.  
The  tax  savings  resulting  from  the  application  of  the  tax  
consolidation group  equal to the difference between the sum of  
tax paid to the parent company by consolidated companies, and tax  
calculated  on  Group  earnings  and  actually  payable  to  the  French  
Treasury – will accrue to the parent company.  
At  the  financial  year-end,  the  tax  group  recorded  a  loss  and  
corporate income tax due for the year was nil.  
4.5.2. TAX BREAKDOWN BETWEEN ORDINARY ACTIVITIES AND EXCEPTIONAL ITEMS
CORPORATE INCOME TAX BROKE DOWN AS FOLLOWS:  
2020  
2019  
(in thousands of euros)
Tax on recurring operations  
Tax on exceptional operations  
Impact of tax consolidation  
RD tax credit  
11,520  
-52  
-11,468  
-19,112  
-669  
14,159  
-646  
-12,317  
-14,913  
-226  
Other tax expenses  
Other tax credits  
-1,054  
-770  
TOTAL
-20,835
-14,713
238  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the income statement  
4.5.3. DEFERRED AND UNREALISED TAX ITEMS
Basis  
2020  
2019  
Assets  
Assets  
Liabilities  
Liabilities  
(in thousands of euros)
I. Certain or contingent differences  
Temporary non-deductible expenses  
To be deducted the following year  
Employee profit-sharing  
C3S social security tax  
-
-
-
-
-
-
p
2,407  
2,599  
p
To be deducted at a later date  
Provision for post-employment benefits  
Provision for foreign exchange losses  
Amortisation of intangible assets  
Other  
77,663  
10  
1,286  
2,469  
-
-
-
-
73,170  
2,411  
857  
-
-
-
-
p
p
p
3,212  
p
Temporary non-taxable income  
Capital gains on mergers/conversions  
Deferred long-term capital gains  
-
-
6,467  
-
-
-
6,467  
-
p
p
Deducted expenses (or taxed income) for tax purposes  
that have not been recognised  
Foreign currency translation losses  
Foreign currency translation gains  
Deferred expenses  
Other  
-
10  
-
-
-
3,469  
p
6,629  
5,985  
-
-
-
p
-
-
-
-
p
-
TOTAL
90,464
6,477
88,234
9,936
II. Items to be applied  
Losses that may be carried forward for tax offset  
Long-term capital losses  
-
-
173,544  
-
-
-
109,363  
-
III. Contingent tax items  
Capital gains on non-depreciable assets contributed on merger  
Special reserve for construction profits  
-
-
148,729  
-
-
-
148,729  
-
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
239
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
5.
Notes to the balance sheet  
5.1. Non-current assets  
5.1.1. INTANGIBLE ASSETS
Gross value  
(beginning of period)
Gross value  
(end of period)
Acquisitions  
Disposals  
(in thousands of euros)
Research and development expenses  
Concessions, patents and similar rights  
Goodwill  
-
47,569  
172,926  
2,250  
48,692  
172,926  
2,250  
-
-
-
1,123  
-
-
Other intangible assets  
TOTAL FIXED ASSETS
223,868
-
1,123
222,745
Amortisation  
and provisions  
(beginning of period)
Amortisation  
and provisions  
(end of period)
Charges  
Reversals  
(in thousands of euros)
Research and development expenses  
Concessions, patents and similar rights  
Goodwill  
-
45,266  
55,054  
857  
-
1,885  
-
-
-
46,027  
55,054  
1,286  
1,123  
-
-
Other intangible assets  
429  
TOTAL AMORTISATION
AND PROVISIONS
101,177
2,313
1,123
102,367
Intangible assets comprise:  
Research and development costs for software and solutions, which  
totalled €23.648 million in 2020, are recognised as expenses.  
software acquired or contributed;  
p
goodwill  and  technical  merger  losses  acquired  or  contributed  
during mergers.  
p
Software development costs  
Software acquired  
All research and development costs are charged to the income  
Software is recognised at cost. It is amortised on a straight-line  
p
p
statement for the financial year during which they are incurred.  
basis over one to ten years.  
Development costs for software and solutions may be capitalised if all  
of the following can be demonstrated:  
Goodwill  
Goodwill consists of acquired assets of a business that cannot  
p
the technical feasibility of completing the intangible asset for  
use or sale;  
be  shown  in  any  other  balance  sheet  item.  As  such,  it  is  
calculated by deducting from the total value of a business those  
elements of that business that can be recognised separately in  
the balance sheet.  
the intent to complete the intangible asset and use or sell it;  
the ability to use or sell the intangible asset;  
Sopra  Steria  Group  conducts  goodwill  impairment  tests  every  
year.  
p
the  manner  in  which  the  intangible  asset  will  generate  
probable future economic benefits;  
The duration of use of goodwill is presumed to be unlimited.  
p
the  availability  of  adequate  technical,  financial  and  other  
resources to complete the development and to use or sell the  
intangible asset;  
The  Company  writes  down  the  value  of  an  asset  if  its  current  
value (the higher of market value and value in use) is less than  
its carrying amount.  
p
the ability to reliably measure the expenditure attributable to  
the intangible asset during its development. The only research  
and  development  costs  recognised  are  from  companies  
acquired and subsequently merged.  
Goodwill  is  allocated  to  a  group  of  assets  so  that  it  can  be  
tested at a level of relevance that enables its performance to be  
tracked.  
p
Recognised write-downs are definitive and may not be reversed.  
p
240  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
Technical merger losses allocated to goodwill  
Each share of the merger loss allocated to an underlying asset is  
tested for impairment and written down whenever the current  
value  of  the  underlying  asset  falls  below  its  carrying  amount  
plus the share of the merger loss allocated. The impairment loss  
is charged firstly to the share of the technical merger loss.  
p
p
After allocation, technical losses on mergers are recognised in a  
p
specific account by the relevant asset category to facilitate their  
monitoring over time.  
Technical losses on mergers are depreciated using the same rules  
p
Goodwill  impairment  therefore  also  includes  impairment  losses  
charged  to  the  portion  of  the  technical  merger  loss  allocated  to  
goodwill.  
and under the same terms as the assets to which they relate.  
5.1.2. PROPERTY, PLANT AND EQUIPMENT
Gross value  
(beginning of period)
Line-item  
transfers  
Gross value  
(end of period)
Acquisitions  
Disposals  
(in thousands of euros)
Land  
Buildings  
Technical installations  
Sundry fittings  
Vehicles  
Office furniture and equipment  
Other property, plant and equipment  
Fixed assets in progress  
323  
6,829  
3,828  
88,278  
87  
43,384  
14  
6,140  
-
-
98  
-
-
-
-
-
323  
6,829  
3,926  
93,011  
224  
42,588  
14  
4,799  
-
3,441  
-
836  
-
2,015  
137  
1,067  
-
723  
-
2,699  
-
-
2,935  
-4,277  
TOTAL FIXED ASSETS
148,884
6,252
3,422
-
151,714
Depreciation  
and provisions  
(beginning of period)
Depreciation  
and provisions  
(end of period)
Line-item  
transfers  
Charges  
Reversals  
(in thousands of euros)
Land  
Buildings  
Technical installations  
Sundry fittings  
Vehicles  
Office furniture and equipment  
Other property, plant and equipment  
Fixed assets in progress  
166  
6,229  
3,357  
53,111  
86  
10  
98  
452  
7,324  
2
-
-
-
-
-
-
-
-
-
-
-
175  
6,327  
3,809  
59,712  
89  
723  
-
29,321  
-
2,918  
-
2,699  
29,540  
-
-
-
-
-
-
TOTAL DEPRECIATION AND
PROVISIONS
92,269
10,804
3,422
-
99,651
Property, plant and equipment consists of:  
All  properties  other  than  the  buildings  at  the  Annecy-le-Vieux  site  
are leased.  
land and buildings: Sopra Steria Group owns three buildings at  
p
the Annecy-le-Vieux site;  
Property, plant and equipment is recognised in the balance sheet at  
cost.  
office  furniture,  fixtures  and  equipment:  This  item  refers  to  
p
equipment  on  premises  leased  by  Sopra Steria  Group  in  major  
French cities.  
Depreciation  is  calculated  using  the  straight-line  method  over  the  
useful lives assigned to each category of fixed assets.  
Some  IT  equipment  is  acquired  on  three-  or  four-year  finance  leases  
and is not included under Property, plant and equipment in the parent  
company financial statements.  
Buildings  
25 years  
Fixtures and fittings  
Hardware and equipment  
Vehicles  
9 years  
3 to 5 years  
5 years  
Office furniture and equipment  
5 to 10 years  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
241
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
5.1.3. FINANCIAL INVESTMENTS
Gross value  
(beginning of period)
Acquisitions/  
Increases  
Disposals/  
Decreases  
Gross value  
(end of period)
Notes  
(in thousands of euros)
Equity interests and long-term  
investment securities  
Other financial investments  
5.1.3. c  
1,428,944  
538,813  
60,503  
16,091  
3,917  
43,685  
1,485,530  
511,219  
TOTAL FIXED ASSETS
1,967,757
76,594
47,602
1,996,749
Impairment  
(beginning of period)
Impairment  
(end of period)
Notes  
Charges  
Reversals  
(in thousands of euros)
Equity interests and long-term  
investment securities  
Other financial investments  
5.1.3. c  
9,813  
2,167  
2,348  
1,685  
-
89  
12,162  
3,762  
TOTAL IMPAIRMENT
11,980
4,033
89
15,924
Equity interests are recognised at cost.  
p
At the financial year-end, an impairment loss is recognised whenever the carrying amount exceeds the value in use.  
p
p
Value in use is equal to enterprise value less net debt. Enterprise value is determined on the basis of discounted future cash flows  
derived from five-year business plans drawn up by management.  
a. Breakdown of changes in the gross amounts recognised for equity interests and other financial investments  
The  increases  merely  reflected  the  acquisition  of  a  controlling  
interest  in  Sodifrance  for  a  total  amount  of  €60.503 million.  The  
details of the transaction were as follows:  
70.2%  of  HP2M  (Sodifrance’s  holding  company,  which  held  a  
94.03%  stake  in  it  at  the  date  of  acquisition  of  a  controlling  
interest), for €39.824 million;  
p
100% of Strateg’e.Boss (a company holding 29.8% of HP2M), for  
5.97% of Sodifrance shares for €3.917 million.  
p
p
€16.761 million;  
The decreases arose from the resale of Sodifrance shares to HP2M  
so that it directly has full ownership of Sodifrance SA.  
b. Impairment of equity interests  
In  accordance  with  CRC  Regulation 2002-10,  issued  by  the  Comité  de  la  Réglementation  Comptable  (the  French  accounting  regulation  
committee), on the depreciation, amortisation and impairment of fixed assets, the following changes in impairment charges were recognised  
in financial year 2020:  
Impairment  
(beginning of period)
Charges  
Reversals  
Impairment  
(end of period)
(in thousands of euros)
Steria Medshore (Morocco)  
Sopra Steria A/S (Denmark)  
CS Communication Systèmes  
COMECO  
1,018  
3,135  
5,659  
-
-
-
-
-
-
-
89  
1,018  
3,135  
5,807  
2,200  
3,764  
148  
2,200  
1,685  
Other  
2,168  
TOTAL
11,980
4,033
89
15,924
During  the  financial  year,  the  entity  recognised  impairment  of  financial  assets  in  connection  with  investments  in  the  amount  of  
€1.685 million.  
242  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
c. Subsidiaries and equity interests  
Carrying amount  
of shares held  
(including  
Loans  
and  
advances  
granted  
by the  
Other  
share-  
Share holders  
capital equity  
Guaran-  
Dividends  
received  
by the  
merger deficit)  
%
of  
tees and Revenue  
securities excluding  
capital  
held  
Profit  
or loss  
Company (in thousands of euros)
Gross  
Net Company  
given  
VAT  
Company  
Subsidiaries  
Sopra Banking Software France  
Sopra HR Software (France)  
161,867 -100,667  
13,110 47,077  
100 238,619 238,619 258,060  
18,423 236,026  
7,100 156,830  
-57,344  
4,644  
-
-
100  
3,171  
3,171  
-
Sopra Steria Holdings Ltd (United  
Kingdom)  
Sopra Steria Group SpA (Italy)  
Sopra Steria España SAU (Spain)  
Beamap (France)  
Sopra Steria AB (Sweden)  
Sopra Steria AG (Switzerland)  
Sopra Steria A/S (Denmark)  
Sopra Steria Benelux (Belgium)  
Sopra Steria AS (Norway)  
Sopra Steria SE (Germany)  
Sopra Steria Asia (Singapore)  
19,847 179,427  
100 388,753 388,753  
100 12,503 12,503  
100 116,747 116,747  
-
-
-
-
-
-
-
78,197  
202,529  
2,315  
-
-4,230  
1,893  
5,016  
242  
-51  
3,215  
-290  
3,113  
23,024  
16,195  
-7,640  
-
3,660  
24,000  
10  
2,476  
48,762  
650  
610  
3,587  
4,200  
-
-
-
-
-
-
-
-
-
100  
2,775  
2,775  
-
-
-
-
698  
17,587  
9,299  
1,830  
8,580  
40,568  
30,234  
-1,698  
100 33,673 33,673  
99 37,561 37,561  
4,263  
1,344  
9,138  
1,910  
10,000  
1,233  
4,629 45,135  
100 12,220  
9,086  
-
-
-
10,522  
69,404  
280,558  
99 45,756 45,756  
100 126,303 126,303  
100 183,153 183,153  
-
15,942  
5,000  
-
16,000 330,068  
47,260  
100  
3,590  
3,590  
5,634  
Sopra Steria Infrastructure  
Security Services (France)  
Steria Medshore SAS (Morocco)  
26,155  
643  
-3,858  
943  
100 39,617 39,617  
100 2,688 1,671  
-
-
-
247,508  
-
-3,669  
-29  
-
-
1,155  
Sopra Steria Polska Sp. z o.o.  
(Poland)  
4,043  
3,181  
100 10,800 10,800  
-
-
35,047  
2,660  
2,874  
Sopra Steria UK Corporate Ltd  
(United Kingdom)  
CIMPA (France)  
19,836 215,342  
100 389,600 389,600  
100 100,000 100,000  
88 46,709 46,709  
-
-
-
-
-
-
-
-
-
-
-
-
-
3,165  
-6,609  
-49  
-1  
-1  
7,045  
5
22,240  
152  
833  
10  
8,440  
11,587  
-8  
103,132  
-
-
-
-
-
-
-
Tecfit (France)  
-
-
Sopra Steria Services (France)  
XYZ 12 2016 (France)  
SFT  
HP2M (Sodifrance group)  
Strateg’e Boss (Sodifrance group)  
100  
100  
10  
10  
10  
10  
10  
-6  
-
-
204,983  
-
22,940  
7,248  
3,960  
15,531  
9,909  
313  
51 22,624 22,624  
100 39,825 39,825  
100 16,761 16,761  
-
6,004  
-
238  
-3  
Equity interests  
CS Communication Systèmes  
Axway Software  
COMECO  
N/A  
N/A  
11 15,548  
33 73,859 73,859  
10 4,400 4,400  
9,899  
-
-
-
-
-
-
N/A  
156,707  
N/A  
N/A  
-18,163  
N/A  
-
-
-
42,702 200,925  
N/A N/A  
d. Loans and other financial investments  
At the balance sheet date, this item mainly comprised the following:  
During the financial year, this item was affected by:  
liquidity agreement (shares and cash): €2.704 million;  
the  maturity  of  the  2017  LTI  plan,  for  which  the  following  
movements were recorded:  
p
p
treasury shares for €5.354 million (net of impairment);  
p
the purchase of around 35,869 treasury shares in the market,  
for a total value of €5.145 million.  
units in FCPI investment funds for €15.000 million;  
p
merger loss on financial assets: €481.747 million.  
p
awards  of  59,732  free  shares,  for  a  total  value  of  
€7.449 million.  
the purchase of 34,105 other treasury shares in the market, for a  
total  value  of  €5.353  million,  in  order  to  partially  cover  the  
requirements of the next LTI plan, maturing in 2021;  
p
p
the  repayment  of  the  outstanding  balance  of  the  £30 million  
loan by its UK subsidiary Sopra Steria Ltd.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
243
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
5.2. Other assets  
5.2.1. INVENTORIES AND WORK IN PROGRESS
Inventories  
(beginning of period)
Inventories  
(end of period)
Increase  
Decrease  
(in thousands of euros)
Consumables  
Work in progress  
47  
3,40  
-
-
26  
770  
21  
3,065  
TOTAL
3,882
-
796
3,086
5.2.1. Inventories and work in progress  
Work  in  progress  recognises  all  costs  incurred  during  the  transition  or  transformation  phases  of  third-party  application  maintenance,  
infrastructure management and outsourcing contracts, as well as preparatory phases for SaaS licences.  
Costs incurred in the startup phase of a contract may be deferred over the term of the contract and recognised in the balance sheet as  
p
work in progress when they relate to future activities of the contract and provided that they are probable and generate future economic  
benefits.  
Work in progress is recognised at its direct production cost and does not include administrative or commercial costs.  
p
5.2.2. TRADE RECEIVABLES
2020  
2019  
(in thousands of euros)
Non-Group clients and related accounts  
Accrued income  
Group clients (including accrued income)  
Doubtful debtors  
216,321  
96,940  
18,700  
250  
292,304  
95,271  
25,125  
331  
Provision for doubtful debtors  
-217  
-284  
TOTAL
331,994
412,745
Trade receivables and related accounts are recognised as assets and are stated at their carrying amount.  
Accrued  income  is  essentially  comprised  of  production  recognised  for  fixed-price  projects  using  the  percentage-of-completion  method.  
Invoices are generally prepared for these contracts upon completion of the services rendered, which are covered over the lifespan of the  
projects through payments on account.  
Trade receivables amounted to €331.994 million in 2020, compared with €412.745 million in 2019. This change reflected an improvement  
in receipts toward the end of the year and a lower level of unbilled revenue from work in progress due to the decline in business activity.  
Trade receivables are measured at their nominal value.  
p
A separate estimate is made for trade receivables at the end of the financial year and an impairment loss is recognised in the event of a  
p
risk  of  non-recovery,  particularly  when  linked  to  collective  proceedings.  Doubtful  debts  for  which  legal  proceedings  have  not  been  
instigated are treated as accrued credit notes.  
5.2.3. OTHER RECEIVABLES, PREPAYMENTS AND ACCRUED INCOME
2020  
2019  
(in thousands of euros)
Staff costs and related accounts  
Social security  
72  
731  
117  
814  
State and local authorities  
Corporate income tax  
Value-added tax  
Other tax  
Group and associates  
Impairment of current accounts  
Other receivables  
4,344  
19,740  
107,266  
278,640  
-47  
7,235  
21,491  
71,647  
184,637  
-47  
p
p
p
43,823  
15,271  
10,425  
13,969  
Prepaid expenses  
TOTAL
469,840
310,287
244  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
The  Other  tax  item  includes  in  particular  tax  credits  not  used  at  
31 December  2020.  It  mainly  consists  of  research  tax  credit  
receivables totalling €88,043 million.  
The Group and associatesitem consists of current account advances  
to Group subsidiaries (cf. Note 5.1.3.c).  
Prepaid expenses relate to services invoiced in 2020 and attributable  
to  subsequent  years.  They  mainly  concern  costs  associated  with  
hardware  and  software  maintenance  contracts  and  leases  of  
movable and immovable property. The increase in this item mainly  
relates to renewals of multi-year contracts during the year.  
The  Corporate  income  tax  item  in  the  amount  of  €4.344 million  
consists  of  overpayment  of  a  corporate  income  tax  payment  on  
account.  
5.2.4. SHORT-TERM INVESTMENT SECURITIES
At the balance sheet date, no short-term investment securities had been subscribed.  
Short-term investment securities are recognised at cost.  
p
At each financial year-end, an impairment loss is recognised whenever the carrying amount exceeds the value in use, except in the case  
p
of treasury shares assigned to a predetermined plan to distribute free shares to employees of the Company.  
5.2.5. DEBT ISSUANCE COSTS AND TRANSLATION ADJUSTMENTS – ASSET
2020  
2019  
(in thousands of euros)
Debt issuance costs  
Foreign currency translation losses  
565  
127  
654  
3,469  
TOTAL
692
4,123
The Translation adjustments – Assetitem amounted to €0.127 million at end-December 2020, compared with €3.469 million at end-2019.  
This change relates mainly to the full repayment (in the amount of £30.000 million) of the loan extended to UK subsidiaries.  
A provision for contingencies and losses is recognised in respect of foreign currency translation losses in the amount of such losses, unless  
the transactions are hedged or their term is sufficiently close. In this case, the unrealised gains and losses are considered to form part of  
the overall foreign exchange position and the charge to the provision is restricted to the amount by which losses exceed gains.  
Debt  issuance  costs  consisted  of  costs  to  negotiate  and  arrange  the  bond  issue  carried  out  on  5 July  2019  for  an  initial  amount  of  
€0.697 million. These costs are amortised over the term of the debt in proportion to the interest accrued.  
5.2.6. IMPAIRMENT OF CURRENT ASSETS
Impairment  
(beginning of period)
Impairment  
(end of period)
(in thousands of euros)
Impairment of trade receivables  
Impairment of current accounts  
Cash and cash equivalents  
284  
47  
-
26  
-
-
93  
-
-
217  
47  
-
TOTAL
332
26
93
264
5.2.7. ACCRUED INCOME
31/12/2020  
31/12/2019  
(in thousands of euros)
Accrued income  
Trade payables – Credit notes to be received  
Trade receivables and related accounts  
Tax and social security receivables  
Cash and cash equivalents  
1,447  
104,563  
2,240  
814  
105,016  
855  
169  
428  
TOTAL
108,419
107,113
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
245
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
5.3. Equity  
5.3.1. STATEMENT OF CHANGES IN EQUITY
Impact  
of  
mergers  
Change in  
regulated  
provisions  
Amounts Appropriation  
Profit for  
the year  
Amounts  
(end of period)
(beginning of period)  
of earnings  
(in thousands of euros)
Share capital  
Issue, merger and contribution premiums  
Legal reserve  
Discretionary reserves  
Retained earnings  
Profit for the year  
20,548  
531,477  
2,056  
436,433  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20,548  
531,477  
2,056  
436,433  
147,078  
142,276  
-
-
147,078  
-147,078  
-
-
142,276  
-
147,078  
-
Regulated provisions  
TOTAL EQUITY
1,137,592
-
-
-
142,276 1,279,867
No dividends were paid out during the financial year.  
At 31 December 2020, the total number of voting rights that could  
be  exercised  at  Ordinary  and  Extraordinary  General  Meetings  was  
26,583,239, while the total number of theoretical voting rights at  
that date was 26,630,051.  
5.3.2. SHARE CAPITAL
At 31 December 2020, Sopra Steria Group had a share capital of  
€20,547,701. It is represented by 20,547,701 fully paid-up shares  
with a par value of €1 each.  
The  Company  held  a  total  of  46,812 treasury  shares  at  
31 December  2020.  Consequently,  at  the  balance  sheet  date,  
reserves not available for distribution amounted to €6.060 million.  
There were no capital transactions during the year under review.  
In accordance with the resolution passed at the Combined General  
Meeting  of  27 June  2014,  pursuant  to  Article L. 225-123  of  the  
French Commercial Code arising from the Act of 29 March 2014,  
double  voting  rights  were  introduced  on  7 July  2014  for  all  fully  
paid-up  shares  held  in  registered  form  in  the  same  shareholder’s  
name for at least two years.  
Free performance share award plans maturing in the financial year  
had no dilutive effect on capital.  
5.4. Provisions for contingencies and losses  
Reversals in the year  
Amounts  
(beginning of period)
Additions in  
the year  
Amounts  
(end of period)
(in thousands of euros)
Notes  
Used  
Not used  
Provisions for retirement bonuses  
Provisions for restructuring  
Provisions for commercial disputes  
Provisions for employee disputes  
Provisions for foreign exchange losses  
Provisions for tax risks  
Provisions for renovating premises  
Provisions for subsidiary risks  
Provisions for contingencies on free share plans  
Other provisions for contingencies  
5.4.1  
73,170  
1,470  
250  
1,574  
2,411  
33,110  
-
6,662  
2,169  
1,254  
-
-
77,663  
216  
2,300  
1,601  
10  
28,365  
1,650  
-
8,238  
1,388  
-
2,300  
435  
10  
-
250  
259  
149  
2,411  
-
5.4.2  
5.4.3  
-
-
-
4,745  
1,650  
-
901  
-
-
-
-
-
-
-
7,449  
-
14,786  
1,388  
TOTAL
128,160
11,958
13,432
5,254
121,432
Provisions  for  contingencies  and  losses  are  set  aside  to  cover  
probable  outflows  of  resources  to  third  parties,  without  
consideration for the Company.  
costs  related  to  business  premises  (unoccupied  premises,  
renovations);  
p
p
financial  risks  such  as  the  risk  of  foreign  exchange  losses  
(cf. Note 5.2.5);  
The  Company  recognises  provisions  for  the  following  
contingencies:  
risks of tax adjustments linked to tax audits.  
commercial risks (estimated costs of guarantee expenses, losses  
on completion” on some long-term contracts);  
It should be noted that provisions recognised on a prudent basis  
in no way prejudice the future outcome of current disputes.  
p
employee-related  
costs  
(restructuring  
costs,  
performance-based free share plan);  
246  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
Turnover tables are based on five-year age brackets and are updated  
at each balance sheet date to reflect separation data for the last five  
years.  
5.4.1. PROVISIONS FOR RETIREMENT BONUSES
Sopra Steria  Group  recognises  provisions  for  its  employee  benefit  
obligations  in  accordance  with  the  terms  of  voluntary  and  
compulsory  retirement  under  the  Syntec  collective  bargaining  
agreement,  as  amended  in  2004  following  the  French  pension  
reform  act  of  21 August  2003.  Provisions  for  retirement  bonuses  
are recognised on an actuarial basis as described below.  
The  discount  rate  used  to  calculate  the  present  obligation  is  the  
yield  on  high-quality  corporate  bonds  (rated AA  or  higher)  
denominated in the payment currency and with a maturity close to  
the  average  estimated  term  of  the  retirement  benefit  obligation  
concerned.  
Assumptions  referring  to  mortality  rates  are  based  on  published  
statistical data.  
The Company uses the 15-year Bloomberg rate for the eurozone as  
the benchmark for discounting its retirement benefit obligations. At  
31 December, this rate stood at 0.44%.  
31/12/2020  
31/12/2019  
(in thousands of euros)
Present value of the obligation financed (with corridor)  
Fair value of plan assets  
Difference  
91,529  
80,944  
-
-
-
-
Present value of the obligation financed  
91,529  
-13,866  
-
80,944  
-7,581  
-193  
Unrecognised actuarial losses (difference)  
Unrecognised past service cost  
Net liabilities on the balance sheet (provision after charge for the year)  
Balance sheet amounts  
77,663  
73,170  
-
77,663  
-
-
73,170  
-
Liabilities  
Assets  
NET OBLIGATION IN THE BALANCE SHEET
77,663
73,170
The total obligation in respect of retirement bonuses amounted to €77.663 million.  
Sopra  Steria  Group  recognises  provisions  for  all  of  its  
commitments  in  respect  of  retirement  bonuses  in  accordance  
with the retirement clauses of the Syntec collective bargaining  
agreement.  
taking into account actuarial assumptions such as the level of  
future  compensation,  life  expectancy  and  staff  turnover.  
Changes  in  actuarial  assumptions  that  affect  the  valuation  of  
the  obligation  are  recognised  as  actuarial  gains  and  losses.  
Actuarial gains and losses representing more than 10% of the  
amount  of  obligations  are  recognised  and  amortised  over  the  
expected average working lives of the employees participating in  
the plan.  
p
Sopra  Steria  Group’s  obligation  towards  its  employees  is  
determined on an actuarial basis, using the projected unit credit  
method:  the  employer’s  present  obligation  is  recognised  in  
proportion to the probable length of service of the employees,  
p
5.4.2. PROVISIONS FOR TAX RISKS
The total amount of provisions for taxes recognised at 31 December 2020 was €28.365 million.  
No new tax-related disputes arose during the period; changes during the financial year related to adjustments of provisions made in prior  
periods.  
Unused reversals from these provisions amounted to €4.745 million in respect of financial year 2020. These adjustments were mainly related  
to  the  French  Council  of  State  (Conseil  d’Etat)’s  “Takima”  ruling  of  9 September  2020  on  the  maximum  amount  of  invoices,  based  on  
eligible expenses, to be deducted from the basis for the RD tax credit by an approved subcontractor.  
5.4.3. PROVISIONS FOR PLANS TO AWARD EXISTING FREE PERFORMANCE SHARES
Since  the  Company  had  expressed  its  intention  to  fund  long-term  
incentive (LTI) plans by acquiring existing shares in advance, it had to  
recognise a provision for contingencies in recognition of the probable  
outflow of resources.  
The  provision  in  respect  of  the  2018  LTI  plan  stood  at  
€8.238 million at 31 December 2020.  
The characteristics of this plan are set out in Note 4.2.2.  
The next shares will be delivered in April 2021 when the 2018 LTI  
plan closes.  
During  the  financial  year,  as  the  2017  LTI  plan  expired,  the  
corresponding provision was reversed for €7.449 million.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
247
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
5.5. Other liabilities  
5.5.1. FINANCIAL DEBT
Amounts  
(beginning of period)
Amounts  
(end of period)
Notes  
Increase  
Decrease  
(in thousands of euros)
Syndicated loan  
5.5.1.a  
5.5.1.b  
5.5.1.c  
5.5.1.d  
164,657  
120,000  
99,000  
281,534  
2
-
-
25,944  
55,000  
65,000  
9,346  
-
138,713  
65,000  
144,000  
272,188  
2
NEU CP programme  
NEU MTN programme  
Other financial debt  
Employee profit-sharing  
Bond  
110,000  
-
-
-
5.5.1.e  
250,000  
3,612  
-
250,000  
2,705  
Accrued interest on financial debt  
5,006  
5,913  
TOTAL
918,804
115,006
161,203
872,608
a. Syndicated loan  
amounts correspond to the debit positions of subsidiaries taking  
part in the cash pooling arrangement;  
As  part  of  the  Group’s  funding  policy,  in  2014  the  Company  
arranged  a  €1,200 million  five-year  borrowing  facility  with  
two options  to  extend  the  expiry  date  by  one year.  This facility  
comprised  a  €200 million  amortising  tranche,  an  £80 million  
amortising  tranche  and  a  €900 million  multi-currency  revolving  
credit line. In 2018, following the exercise of the second one-year  
extension option, the expiry date was postponed to 6 July 2023. At  
31 December  2020,  the  outstanding  amount  drawn  on  the  loan  
was  from  the  two amortising  tranches  (€96 million  and  
£38.4 million  after  contractual  amortisations  for  the  period).  The  
€900 million multi-currency revolving credit facility is undrawn.  
a  €60  million  non-amortising  bilateral  bank  facility  maturing  in  
early 2024. In addition, another €50 million bilateral credit line  
maturing in 2024 was undrawn at 31 December 2020 (see Note  
6.2.2).  
p
e. Bond  
The bond issued on 5 July 2019 for an amount of €250 million has  
the following characteristics:  
1
2
st tranche – €130 million:  
subscription date: 5 July 2019,  
coupon rate: 1.749%,  
p
b. Details on the NEU CP programme  
In  2015,  as  part  of  the  Group’s  funding  policy,  the  Company  
arranged  an  unrated  multi-currency  NEU CP  programme  of  
short-term negotiable securities that was not underwritten, with a  
maximum amount of €700 million. This programme is presentedin  
documentation available on the Banque de France website, which  
was  last  updated  on  30 June  2020.  The  average  amount  
outstanding  under  the  NEU CP  programme  was  €110.1 million  
in 2020,  compared  with  €268.2 million  in 2019,  and  the  
programme  was  very  active  throughout  2020.  The  outstanding  
amount under the NEU CP programme at 31 December 2020 was  
€65.0 million (€120 million at 31 December 2019).  
redemption date: 5 July 2026;  
nd tranche – €120 million:  
subscription date: 5 July 2019,  
coupon rate: 2.0%,  
p
redemption date: 5 July 2027.  
f. Covenants  
The terms and conditions to which the syndicated loan and bond  
issue  are  subject  include  a  commitment  to  comply  with  certain  
financial covenants.  
Two  financial  ratios  are  calculated  every  six months  using  the  
consolidated financial statements prepared in accordance with IFRS  
on a rolling 12-month basis:  
c. Details on the NEU MTN programme  
In December 2017, as part of its efforts to diversify its borrowings,  
the Company arranged an NEU MTN programme of medium-term  
negotiable  securities  that  was  not  underwritten,  with  a  maximum  
amount  of  €300 million.  As  was  the  case  for  the  earlier  NEU  CP  
programme,  the  NEU  MTN  programme  is  presented  in  
documentation available on the Banque de France website. The NEU  
MTN programme pays fixed or floating rates, with a spread at each  
issue  date,  and  maturities  range  from  one  to  five  years.  At  
31 December 2020, the outstanding amount under the NEU MTN  
programme  was  €144.0 million,  with  maturities  of  up  to  three  
years. The net increase in the amount of NEU MTN corresponded to  
€65 million in matured securities and €110 million in new issues.  
the  first   known  as  the  leverage  ratio   is  equal  to  net  debt  
p
divided by pro forma EBITDA;  
the second  known as the interest coverage ratio  is equal to  
p
pro forma EBITDA divided by the cost of net financial debt.  
The first financial ratio must not exceed 3.0 at any reporting date.  
The second ratio must not fall below 5.0.  
Net financial debt is defined on a consolidated basis as all loans and  
related borrowings (excluding intercompany liabilities), less available  
cash and cash equivalents.  
Pro  forma  EBITDA  is  consolidated  operating  profit  on  business  
activity  adding  back  depreciation,  amortisation  and  provisions  
included in operating profit on business activity before the impact  
of IFRS 16 Leases. It is calculated on a 12-month rolling basis and is  
therefore restated so as to be presented in the financial statements  
at constant scope over 12 months.  
d. Other financial debt  
The Other financial debtitem includes:  
bank overdrafts in the amount of €212.1 million relating to the  
p
management  of  a  notional  cash  pooling  arrangement.  These  
248  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
At 31 December 2020, the net financial debt/pro forma EBITDA ratio covenant was met, with the ratio coming in at 1.12 compared with a  
covenant of 3.0. It is calculated as follows:  
31/12/2020  
31/12/2019  
(in thousands of euros)
Short-term borrowings ( 1 year)  
Long-term borrowings ( 1 year)  
Cash and cash equivalents  
106,600  
564,500  
- 245,500  
-
217,100  
494,400  
-197,500  
-
Other financial guarantees  
Net debt (including financial guarantees)  
425,600  
513,900  
EBITDA  
379,414  
408,288  
NET FINANCIAL DEBT / PRO FORMA EBITDA RATIO
1.12
1.26
For the second ratio, pro forma EBITDA is as defined above and the cost of net financial debt is also calculated on a rolling 12-month basis.  
At 31 December 2020, the pro forma EBITDA to cost of net financial debt covenant – requiring a ratio of at least 5.0 – was met, with the  
ratio coming in at 38.27. It is calculated as follows:  
31/12/2020  
31/12/2019  
(in thousands of euros)
EBITDA  
379,414  
9,915  
408,288  
9,873  
Cost of net debt  
PRO FORMA EBITDA / COST OF NET FINANCIAL DEBT RATIO
38.27
41.37
The  Company’s  financial  covenants  were  renegotiated  to  consider  pro  forma  EBITDA  before  application  in  the  consolidated  financial  
statements of IFRS 16 Leases and net financial debt excluding lease liabilities.  
5.5.2. FINANCIAL INSTRUMENTS
a. Interest rate hedge  
The eligible counterparties for interest rate hedging and investments  
are  leading  financial  institutions  which  belong  to  the  Sopra Steria  
banking syndicate. These financial instruments are managed by the  
Group’s Finance Department.  
Within the framework of the Group’s policy, the Company’s aim is  
to protect itself against interest rate fluctuations by hedging part of  
its floating rate debt and investing its cash over periods of less than  
three months.  The  Company  does  not  conduct  speculative  
transactions on financial markets.  
For  transactions  qualifying  as  hedges,  the  underlying  hedged  risk  
consists  of  a  group  of  floating-rate  financial  liabilities.  At  
31 December  2020,  floating-rate  financial  liabilities  mainly  
comprised  the  euro-denominated  tranche  of  the  2014  syndicated  
loan (€96 million), the NEU CPs (€65 million) and a portion of the  
NEU MTNs (€109 million).  
The  derivative  financial  instruments  used  to  hedge  the  debt  are  
interest rate swap contracts or options, which may or may not be  
eligible for hedge accounting.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
249
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
Fair value  
31/12/2020  
Maturity  
Non-current  
assets  
Current Non-current  
Current Notional  
1 to  
assets  
liabilities liabilities amount(1)  1 year  
5 years  5 years  
(in thousands of euros)
Swap (cash flow hedge) in euros  
-
-
-
-
Swap (cash flow hedge)  
in foreign currency  
Options eligible for hedge  
accounting in euros  
Options eligible for hedge  
accounting in foreign currency  
Swaps not eligible for hedge  
accounting in euros  
Options not eligible for hedge  
accounting in euros  
-
-
1
-
-
-
-
-
-
-
-
-
-
-
166  
393  
55  
511 275,000  
125,000 150,000  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
50,000  
50,000  
TOTAL INTEREST RATE
HEDGES
-
-
-
-
-
-
-
-
(1) Including internal foreign exchange contracts.  
The transactions not qualifying as hedges relate to option contracts  
not linked to an underlying asset at 31 December 2020.  
The portfolio’s sensitivity in the event of a change in interest rates is:  
a  decrease  of  €0.156 million  in  the  event  of  a  decrease  of  
p
At  31 December  2020,  the  fair  value  of  interest  rate  instruments  
was negative €0.793 million.  
50 basis points in interest rates;  
an  increase  of  €0.683 million  in  the  event  of  an  increase  of  
p
50 basis points in interest rates.  
-50 BP  
+50 BP  
PL impact  
(hedge ineffectiveness)
PL impact  
(hedge ineffectiveness)
Equity impact  
Equity impact  
(in thousands of euros)
Swaps (cash flow hedge) in euros  
Swaps (cash flow hedge) in foreign currency  
Swaps not eligible for hedge accounting  
Options eligible for hedge accounting in euros  
Options eligible for hedge accounting in foreign currency  
-
-
-
-
-
- 5  
-
-
-
-
-
-
5
-
-
- 150  
-
-
668  
-
Options not eligible for hedge accounting  
in foreign currency  
-
- 0  
-
10  
TOTAL
- 150
- 6
668
15
TOTAL IMPACT
- 156
683
b. Foreign exchange hedge  
transaction risk associated with purchases and sales of services in  
foreign  currencies  and  internal  foreign  exchange  contracts  
granted  to  subsidiaries  in  connection  with  the  centralised  
management of foreign exchange risk;  
p
p
Sopra Steria Group is subject to three main types of risks linked to  
fluctuations in exchange rates:  
currency  translation  risk  associated  with  the  repatriation  of  
p
financing-related  foreign  exchange  risk  arising  from  
foreign-currency  borrowings  (risk  arising  from  changes  in  the  
value of the financial debt denominated in pounds sterling).  
dividends of subsidiaries whose base currency is not the euro;  
Nominal value  
Fair value  
(in thousands of euros)
Foreign exchange hedge(1)  
Interest rate hedge  
87,124  
325,000  
257  
- 799  
(1) Including internal foreign exchange contracts.  
250  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
Transaction risk  
At  31 December  2020,  the  fair  value  of  foreign  exchange  
instruments was €0.257 million.  
As  part  of  the  Group’s  general  risk  management  policy,  
Sopra Steria  Group  systematically  hedges  against  foreign  currency  
transaction risks that constitute material risks.  
The portfolio’s sensitivity in the event of a change in interest rates is:  
an  increase  of  €2.246 million  in  the  event  of  a  5%  fall  in  the  
p
In  addition,  centralised  management  of  foreign  exchange  
transaction  risk  is  in  place  with  the  Group’s  main  entities  (apart  
from  India).  Sopra Steria  Group  acts  as  the  centralising  entity,  
granting  exchange  rate  guarantees  to  subsidiaries  in  pounds  
sterling,  US  dollars,  Polish  zlotys,  Tunisian  dinars  and  Norwegian  
krone. After netting internal exposures, Sopra Steria Group hedges  
the residual exposure through the use of derivatives.  
euro;  
a  decrease  of  €1.975 million  in  the  event  of  a  5%  rise  in  the  
euro.  
p
Foreign exchange risk  
At 31 December 2020, sterling-denominated debt providing partial  
coverage  of  the  assets  comprised  of  shares  in  UK  subsidiaries  
amounted to €184.638 million, while cash and cash equivalents in  
Swedish krona providing partial coverage of the debt of subsidiaries  
in Sweden came to €19.063 million.  
The  remeasurement  through  profit  or  loss  of  these  financial  
instruments hedging balance sheet items is offset by the revaluation  
of foreign currency receivables over the period.  
All of the foreign exchange and interest rate positions are taken  
using  listed  financial  instruments  traded  over  the  counter  or  
through organised markets with minimal counterparty risk. Gains  
and losses on financial instruments accounted for as hedges are  
recognised symmetrically with the items hedged. The fair value of  
financial instruments is estimated on the basis of quoted prices in  
active markets or values provided by banks. Gains or losses arising  
on derivatives used to hedge forecast transactions with separately  
identifiable  risks  are  deferred  and  taken  into  account  in  the  
valuation of the transaction in question, which occurs when it is  
settled.  
5.5.3. TRADE PAYABLES
2020  
2019  
(in thousands of euros)
Non-Group suppliers and related accounts  
Accrued expenses  
Group suppliers (including accrued expenses)  
18,127  
50,079  
53,028  
34,450  
59,916  
50,925  
TOTAL
121,233
145,291
5.5.4. TAX AND SOCIAL SECURITY PAYABLES
2020  
2019  
(in thousands of euros)
Staff costs and related accounts  
Social security  
86,800  
105,588  
97,581  
108,746  
State and local authorities  
Corporate income tax  
Value-added tax  
Other tax  
-
82,814  
11,550  
-
95,849  
12,228  
p
p
p
TOTAL
286,753
314,404
5.5.5. OTHER LIABILITIES, ACCRUALS AND DEFERRED INCOME
2020  
2019  
(in thousands of euros)
Payables on fixed assets and related accounts  
Group and associates  
Other payables  
11,524  
302,985  
35,876  
84,867  
10,268  
237,289  
29,896  
89,089  
Deferred income  
TOTAL
435,253
366,543
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
251
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
Deferred income comprises the portion of interim billings issued in  
advance on fixed-price and maintenance contracts.  
At 31 December 2020, Liabilities on fixed assetsincluded:  
liabilities  on  acquisitions  of  property,  plant  and  equipment  for  
p
The Group and associates item consists of current account advances  
received  from  subsidiaries.  These  advances  are  related  to  cash  
transfers  from  subsidiaries  participating  in  the  zero-balance  cash  
pooling system implemented by the Company.  
€0.209 million;  
liabilities  on  acquisitions  of  non-current  financial  assets  for  
€11.315 million. These concerned investments in FCPI funds and  
will be recognised upon each call for subscription.  
p
5.5.6. ACCRUED EXPENSES
31/12/2020  
31/12/2019  
(in thousands of euros)
Accrued expenses  
Accrued interest on financial debt  
Trade payables and related accounts  
Trade receivables – Credit notes to be issued  
Tax and social security payables  
Other payables  
2,705  
63,363  
22,510  
135,749  
-
3,612  
75,245  
18,653  
150,331  
-
TOTAL
224,327
247,840
The €14.582 million decrease in Tax and social security payables was mainly related to the decrease in employee-related provisions.  
5.5.7. FOREIGN CURRENCY TRANSLATION GAINS
2020  
2019  
(in thousands of euros)
Foreign currency translation gains  
6,746  
5,985  
TOTAL
6,746
5,985
Translation adjustments – The liability mainly relates to unrealised translation differences on the foreign currency portion of the syndicated  
loan.  
5.6. Maturities of receivables and payables at the balance sheet date  
5.6.1. RECEIVABLES
Due in 1 year or  
less  
Due in more than  
1 year  
Gross amount  
(in thousands of euros)
Non-current assets  
Receivables related to equity interests  
Other financial investments  
-
-
-
3,729  
1,998  
1,731  
Current assets  
Doubtful debts and disputes  
Other trade receivables  
Staff costs and related accounts  
Social security  
250  
331,961  
72  
-
331,961  
72  
250  
-
-
-
731  
731  
State and local authorities  
-
-
-
Corporate income tax  
Value-added tax  
Other tax  
Group and associates  
Other receivables  
Prepaid expenses  
4,344  
19,740  
107,266  
278,640  
43,823  
15,271  
4,344  
19,740  
19,223  
278,640  
43,823  
15,271  
-
-
p
p
88,043  
p
-
-
-
TOTAL
805,827
715,803
90,024
252  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Notes to the balance sheet  
5.6.2. PAYABLES
Due in more than  
1 year and no  
more than 5 years  
Due in more  
than 5 years  
Gross amount  
Due in 1 year or less  
(in thousands of euros)
Bank borrowings  
2 years maximum at origin  
More than 2 years at origin  
Bond  
Other financial debt  
Trade payables and related accounts  
Staff costs and related accounts  
Social security  
-
198,713  
250,000  
423,895  
121,233  
86,800  
-
11,559  
-
293,779  
121,233  
86,800  
105,588  
-
-
-
-
-
-
-
-
p
187,153  
250,000  
130,116  
p
-
-
-
105,588  
State and local authorities:  
Corporate income tax  
Value-added tax  
Other tax  
Payables on fixed assets and related accounts  
Group and associates  
Other payables  
-
82,814  
11,550  
11,524  
302,985  
35,876  
84,867  
-
82,814  
11,550  
11,524  
302,985  
35,876  
84,867  
-
-
-
-
-
-
-
-
-
-
-
-
-
-
p
p
p
Deferred income  
TOTAL
1,715,847
1,148,577
567,269
-
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
253
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Other information  
6.
Other information  
6.1. Information on finance leases  
6.1.1. ASSETS HELD UNDER FINANCE LEASES
Original value  
Depreciationcharge  
Net value  
For the period Accumulated  
(in thousands of euros)
IT equipment  
26,624  
8,393  
15,588  
11,036  
6.1.2. FINANCE LEASE COMMITMENTS
Actual lease payments  
Lease payments remaining  
Less than From 1 to Total  
Residual  
purchase  
price  
For the  
period Accumulated  
1 year  
5 years  
payable  
(in thousands of euros)
IT equipment  
7,191  
13,579  
6,380  
6,078  
12,459  
266  
6.2. Off-balance sheet commitments  
6.2.1. OFF-BALANCE SHEET COMMITMENTS GIVEN
31/12/2020  
(in thousands of euros)
Commitments given  
Endorsements and bank guarantees  
Counter-guarantee on non-bank guarantees covering contracts(1)  
Bank counter-guarantee  
38,072  
312,721  
-
Nominal value of future equipment operating lease payments  
Nominal value of future real estate operating lease payments  
Nominal value of future finance lease payments  
Foreign exchange hedge(2)  
1,884  
141,352  
12,725  
87,124  
325,000  
Interest rate hedge  
TOTAL COMMITMENTS GIVEN
918,878
(1) Under the IT service contracts entered into with its clients, the Company may, if formally requested by its clients, provide parent company guarantees to its subsidiaries in respect of the  
performance of their obligations under the contracts signed directly with their clients. To date, no use has ever been made of any such guarantee.  
(2) Including internal foreign exchange contracts.  
Other off-balance sheet commitments given:  
Sopra Steria  Group  also  acts  as  guarantor  for  the  amount  of  the  
contribution  payable  by  its  UK  subsidiaries  in  respect  of  defined  
benefit  pension  plans  in  the  event  that  those  subsidiaries  should  
default. Similarly, it acts as guarantor for the put option granted to  
the UK Cabinet Office to acquire the 25% stake not yet held in SSCL,  
in the event that the Sopra Steria Ltd subsidiary should default.  
254  
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6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Other information  
6.2.2. OFF-BALANCE SHEET COMMITMENTS RECEIVED
31/12/2020  
(in thousands of euros)
Commitments received  
Endorsements and other bank guarantees  
Cash facilities (current bank overdrafts):  
4,470  
161,500  
161,500  
Authorised  
p
Utilised (balance sheet)  
p
Not utilised (off balance sheet)  
p
Medium-term loan:  
Authorised  
Utilised (balance sheet)  
Not utilised (off balance sheet)  
Nominal value of future equipment sublease payments  
Nominal value of future real estate sublease payments  
Net carrying amount of assets held under finance leases  
Foreign exchange hedge (1)  
1,088,713  
138,713  
950,000  
92  
43,933  
11,036  
87,124  
325,000  
p
p
p
Interest rate hedge  
TOTAL COMMITMENTS RECEIVED
1,578,685
(1) Including internal foreign exchange contracts.  
Other off-balance sheet commitments received:  
As part of a cash pooling arrangement set up between certain Group  
entities  and  BMG  (Bank  Mendes  Gans),  the  Company  acts  as  
guarantor for the amounts borrowed by its subsidiaries.  
Lastly,  as  part  of  the  acquisition  of  Sodifrance,  the  Company  
received  specific  guarantees  from  the  sellers  in  respect  of  certain  
specific  potential  risks  concerning  the  pre-acquisition  period,  for  
which compensation would be payable on a euro-for-euro basis.  
6.3. Exceptional events and legal disputes  
There  were  employee  and  contractual  risks  and  disputes  at  the  
balance  sheet  date  that  are  not  provisioned  in  the  balance  sheet  
because they constitute contingent liabilities. Uncertainties remain as  
to their amount and the timing of the outflow of resources.  
Furthermore, there are no exceptional events or legal disputes that  
may  have  a  material  effect  on  the  Company’s  financial  position,  
revenue, assets or net profit.  
6.4. Subsequent events  
None.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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2020 PARENT COMPANY FINANCIAL STATEMENTS  
Other information  
6.5. Summary for the last five financial years  
2020  
2019  
2018  
2017  
2016  
(in thousands)
Financial position at year-end  
Share capital  
Number of shares issued  
Number of bonds convertible into shares  
20,548  
20,548  
-
20,548  
20,548  
-
20,548  
20,548  
-
20,548  
20,548  
-
20,532  
20,532  
-
p
p
p
Results of operations for the year  
Revenue excluding VAT  
Profit before tax, depreciation, amortisation and provisions  
Corporate income tax  
Profit after tax, depreciation, amortisation and provisions  
1,512,781  
131,796  
-20,835  
142,276  
-
1,651,461  
150,240  
-14,713  
147,078  
-
1,553,775  
127,749  
-26,012  
124,706  
38,013  
1,456,888  
140,168  
-16,314  
141,770  
49,314  
1,393,280  
169,579  
-3,368  
142,022  
45,170  
p
p
p
p
Amount of profit distributed as dividends  
p
Earnings per share  
Profit after tax but before depreciation, amortisation  
and provisions  
Profit after tax, depreciation, amortisation and provisions  
Dividend paid per share  
p
7.43  
6.92  
-
8.03  
7.16  
-
7.48  
6.07  
1.85  
7.62  
6.90  
2.40  
8.42  
6.92  
2.20  
p
p
Employee data  
Number of employees  
12,997  
13,451  
13,083  
13,238  
13,086  
p
Total payroll  
625,364  
635,496  
610,196  
593,410  
575,237  
p
Amount paid in respect of employee benefits  
(social security, employee discounts, etc.)  
p
277,481  
288,332  
299,928  
296,846  
264,663  
256  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Other information  
6.6. Maturity schedule of trade payables and receivables  
6.6.1. MATURITY SCHEDULES OF TRADE PAYABLES NOT PAST DUE
The Trade payables and related accountsitem came to €121.233 million. It comprised accrued expenses for €63.363 million, invoices not  
past due for €58.841 million and past due invoices for €1.029 million.  
Article D. 441-4 I. 1° of the French Commercial Code: Invoices  
received, not yet paid and past due at the balance sheet date  
0 days  
(for guidance only)
1 to  
30 days  
31 to  
60 days  
61 to  
90 days and over  
91 days  
Total  
(A) PAST DUE INVOICES
Number of invoices concerned  
Total amount of invoices concerned (€k, incl. VAT)
Percentage of total purchases for the year (excl. VAT)
-
3,845  
1,029  
0.2%  
611  
0.1%  
-179  
0.0%  
-283  
0.0%  
880  
0.1%  
(B) INVOICES EXCLUDED FROM (A) RELATING TO DISPUTED PAYABLES AND RECEIVABLES OR NOT RECORDED
IN THE ACCOUNTS
Number of invoices excluded  
Total amount of invoices excluded (€k, incl. VAT)
-
-
-
-
-
-
-
(C) PAYMENT TERMS USED AS REFERENCE (CONTRACTUAL DEADLINE OR LEGAL DEADLINE SET FORTH
IN ARTICLE L. 441-6 OR L. 443-1 OF THE FRENCH COMMERCIAL CODE)
Contractual deadline: 30 to 45 days  
p
Payment terms used to calculate late payments  
Legal deadline: 45 days  
p
6.6.2. MATURITY SCHEDULE OF TRADE RECEIVABLES NOT PAST DUE
The Trade receivables and related accounts item came to €332.211 million. It comprised accrued income for €104.563 million, invoices not  
past due for €197.683 million and past due invoices for €29.965 million.  
Article D. 441 I. 2° of the French Commercial Code: Invoices issued,  
not yet paid and past due at the balance sheet date  
0 days  
(for guidance only)
1 to  
30 days  
31 to  
60 days  
61 to  
90 days and over  
91 days  
Total  
(A) PAST DUE INVOICES
Number of invoices concerned  
Total amount of invoices concerned (€k, incl. VAT)
Percentage of revenue for the year (excl. VAT)
-
2,209  
29,965  
1.98%  
18,616  
1.23%  
6,188  
0.41%  
2,225  
0.15%  
2,936  
0.19%  
(B) INVOICES EXCLUDED FROM (A) RELATING TO DISPUTED PAYABLES AND RECEIVABLES OR NOT RECORDED
IN THE ACCOUNTS
Number of invoices excluded  
26  
Total amount of invoices excluded (€k, incl. VAT)
-
-
-
-
250  
250  
(C) PAYMENT TERMS USED AS REFERENCE (CONTRACTUAL DEADLINE OR LEGAL DEADLINE SET FORTH
IN ARTICLE L. 441-6 OR L. 443-1 OF THE FRENCH COMMERCIAL CODE)
Contractual deadline: 45 days  
p
Payment terms used to calculate late payments  
Legal deadline: 45 days  
p
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
257
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Statutory Auditors’ report on the parent company financial statements  
Statutory Auditors’ report on the parent company  
financial statements  
Financial year ended 31 December 2020  
measures  taken  in  the  context  of  the  state  of  sanitary  emergency  
have  had  numerous  consequences  for  companies,  particularly  on  
their  operations  and  their  financing,  and  have  led  to  greater  
uncertainties  on  their  future  prospects.  Those  measures,  such  as  
travel restrictions and remote working, have also had an impact on  
the  companies'  internal  organisation  and  the  performance  of  the  
audits.  
To the General Meeting of Sopra Steria Group SA,  
Opinion  
In  compliance  with  the  engagement  entrusted  to  us  by  your  
shareholders  at  your  General  Meetings,  we  have  audited  the  
accompanying financial statements of Sopra Steria Group SA for the  
year ended 31 December 2020.  
It is this complex and evolving context that, in accordance with the  
requirements  of  Articles  L.  823-9  and  R.  823-7  of  the  French  
Commercial Code relating to the justification of our assessments, we  
inform you of the key audit matters relating to the risks of material  
misstatement  that,  in  our  professional  judgment,  were  of  most  
significance in our audit of the parent company financial statements  
for the financial year, as well as how we addressedthose risks.  
In our opinion, the financial statements give a true and fair view of  
the  the  assets  and  liabilities  and  of  the  financial  position  of  the  
Company  as  of  31 December  2020  and  of  the  results  of  its  
operations  for  the  year  then  ended  in  accordance  with  French  
accounting principles.  
These  matters  were  addressed  in  the  context  of  our  audit  of  the  
parent company financial statements as a whole and in forming our  
opinion  thereon,  and  we  do  not  provide  a  separate  opinion  on  
specific items of the parent company financial statements.  
The audit opinion expressed above is consistent with our report to  
the Audit Committee.  
Basis for opinion  
REVENUE RECOGNITION ON FIXED-PRICE CONTRACTS
(Note 4.1.1 to the parent company financial statements)  
AUDIT FRAMEWORK
Risk identified  
We  performed  our  audit  in  accordance  with  the  professional  
standards applicable in France. We believe that the audit evidence  
we have obtained is sufficient and appropriate to provide a basis for  
our opinion.  
Sopra Steria  Group,  one  of  Europe’s  key  players  in  digital  
transformation,  offers  end-to-end,  high-value-added  services  
comprising  consulting  and  systems  integration,  development  of  
industry-  and  technology-specific  solutions,  IT  infrastructure  
management, cybersecurity and business process services (BPS).  
Our responsibilities under those standards are further described in  
the section of this report entitled Responsibilities for the Audit of  
the financial statements”.  
For  the  financial  year  ended  31 December  2020,  the  Company’s  
revenue totalled €1.5 billion, a significant portion of which related  
to  fixed-price  contracts.  Fixed-price  contracts  are  characterised  by  
commitments relating to the price, the end result and the deadline.  
INDEPENDENCE
We performed our audit in accordance with the independence rules  
provided by the French Commercial Code and the French Code of  
Ethics for Statutory Auditors for the period from 1 January 2020 to  
the  date  our  report  was  issued,  and  in  particular  we  have  not  
provided  any  services  prohibited  by  Article 5,  paragraph 1  of  
Regulation (EU) No. 537/2014.  
As  stated  in  Note 4.1.1  to  the  parent  company  financial  
statements,  services  corresponding  to  contracts  of  this  kind  are  
recognised  using  the  percentage-of-completion  method.  This  
method  requires  an  estimate  by  management  of  figures  on  
completion  and  the  level  of  completion  of  the  contract,  it  being  
specified  that  the  amount  of  revenue  recognised  at  each  balance  
sheet  date  is  based  on  the  difference  between  the  contract  value  
and the amount required to cover the total number of person-days  
remaining to be performed.  
Justification of our assessments –  
Key audit matters  
Due  to  the  global  crisis  related  to  the  Covid-19  pandemic,  the  
financial statements of this period have been prepared and audited  
under  specific  conditions.  Indeed,  this  crisis  and  the  exceptional  
We considered the recognition of revenue on fixed-price contracts  
as a key audit matter due to its significance in Sopra Steria Group  
SA’s financial statements and the level of judgment and estimation  
required by management to determine the revenue and income on  
completion from these contracts.  
258  
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6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Statutory Auditors’ report on the parent company financial statements  
Our response  
Our response  
We  familiarised  ourselves  with  the  internal  control  procedures  
implemented by the Company and tested the key controls relating  
to determining income from fixed-price contracts.  
To assess the reasonableness of the estimate of the value in use of  
equity interests, based on the information provided to us, our work  
consisted in particular of:  
For  a  sample  of  contracts  deemed  material  due  to  their  financial  
impact and risk profile:  
verifying,  for  valuations  based  on  historical  elements,  that  the  
p
retained  equity  is  consistent  with  the  accounts  of  entities  that  
have  been  the  subject  of  an  audit  or  analytical  procedures  by  
their statutory auditors, and assessing the appropriateness of any  
adjustments made to this equity;  
we  reconciled  contractual  data,  including  any  contractual  
p
changes  resulting  from  additional  requests  and  contractual  
claims, with management and accounting data;  
for valuations based on forecast items:  
p
we  talked  to  management  and  project  managers  in  order  to  
p
assess  the  reasonable  nature  of  the  estimates  made  by  
management and corroborate the estimated amount allocated to  
cover  the  total  number  of  person-days  remaining  to  be  
performed, particularly in comparison with prior estimates and by  
reviewing correspondence with the client and assessing whether  
this has been translated correctly into the accounts. In performing  
this  work  we  drew  on  experience  acquired  in  previous  financial  
years relating to similar contracts;  
obtaining  cash  flow  forecasts  for  the  entities  concerned  
prepared  by  the  operational  departments,  and  assess  their  
consistency  with  the  forecast  data  derived  from  the  latest  
strategic plans, taking into account the context of uncertainty  
related to the Covid-19 crisis, prepared under the supervision of  
their  general  management  for  each  of  these  activities  and  
approved, where applicable, by the Board of Directors,  
assessing the consistency of the assumptions used (in particular  
the  growth  rate  of  projected  cash  flows)  with  the  market  
analyses  and  consensus  observed,  and  verifying  the  various  
components of the discount rate applied,  
for contracts subject to claims, we talked to the Company’s legal  
department and reviewed correspondence with the client in order  
to assess the estimates made by management.  
p
We also used substantive checks on a sample of trade receivables  
and  accrued  income  in  order  to  assess  management’s  estimates  
relating to the prospect of recovering these receivables.  
comparing  the  forecasts  used  for  previous  periods  with  the  
corresponding  actual  levels  achieved  in  order  to  assess  the  
extent to which past targets were met;  
In  addition  to  assessing  the  values  in  use  of  equity  interests,  our  
work also involved:  
VALUATION AND IMPAIRMENT OF NON-CURRENT
FINANCIAL ASSETS
assessing  the  recoverability  of  loans  to  subsidiaries  compared  
p
with the analyses carried out on the equity interests;  
(Note 5.1.3 to the parent company financial statements)  
verifying  the  recognition  of  a  provision  for  risks  in  cases  where  
the  Company  has  committed  to  bear  the  losses  of  a  subsidiary  
with negative equity.  
p
Risk identified  
Non-current  financial  assets  are  reported  in  the  balance  sheet  at  
31 December  2020  for  a  net  amount  of  €1,980.8 million,  
representing 63.4% of total assets.  
Lastly, we verified the appropriateness of the information provided  
in Note 5.1.3 to the parent company financial statements.  
As  set  out  in  Note 5.1.3  to  the  parent  company  financial  
statements, equity interests are recognised at acquisition cost and  
impaired  when  their  value  in  use  is  less  than  their  net  carrying  
amount at the balance sheet date.  
PROVISIONS FOR RETIREMENT BONUSES
(Note 5.4.1 to the parent company financial statements)  
In estimating the value in use of these securities, management must  
exercise  judgment  in  deciding  which  factors  should  be  taken  into  
consideration  for  each  relevant  investment.  These  factors  may  
correspond  to  historical  items  (equity  and  net  debt)  or  forecast  
items  (discounted  future  cash  flows  taking  into  account  the  
profitability  outlook  and  economic  climate  in  the  countries  in  
question).  
Risk identified  
Sopra Steria  Group  recognises  provisions  for  its  employee  benefit  
obligations with respect to retirement bonuses in accordance with  
the terms of voluntary and compulsory retirement under the Syntec  
collective bargaining agreement. The related provision is evaluated  
recognised on an actuarial basis based on the projected unit credit  
method  described  in  Note 5.4.1  to  the  parent  company  financial  
statements.  The  actuarial  value  of  accumulated  benefits  as  at  
31 December 2020 was €77.7 million.  
As indicated in note 2.1 to the financial statements, the Covid-19  
crisis has had an impact on the estimates used by Managementto  
value  certain  assets  and  liabilities.  In  particular,  this  is  mainly  
relevant and structuring for the assumptions and estimates used to  
assess the recoverable amount of financial assets.  
Valuing  these  obligations,  as  well  as  the  actuarial  cost  for  the  
financial year, requires a high level of judgment by management to  
determine  appropriate  assumptions  to  be  made,  such  as  the  
discount rate, future pay rises, staff turnover and mortality tables.  
We considered that the valuation of non-current financial assets is a  
key matter of our audit because of their significant importance in  
the  Company’s  parent  company  financial  statements  and  the  
judgment  exercised  by  management  in  determining  their  value  in  
use.  
The  change  in  some  of  these  assumptions  may  have  a  material  
impact on determining the amount of the provision recognised.  
In  view  of  the  amounts  represented  by  these  obligations,  we  
considered the provisions for retirement bonuses to be a key matter  
of our audit.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
259
6
2020 PARENT COMPANY FINANCIAL STATEMENTS  
Statutory Auditors’ report on the parent company financial statements  
Our response  
Report on Other Legal and Regulatory  
Requirements  
Format of presentation of the financial statements intended to be  
included in the Annual Financial Report  
We familiarised ourselves with the process for valuing the provision  
for retirement bonuses applied by Sopra Steria Group. A review of  
actuarial  assumptions  was  performed  to  take  into  account  any  
changes over the year or ad hoc impacts by:  
We have also verified, in accordance with the professional standard  
applicable  in  France  relating  to  the  procedures  performed  by  the  
statutory auditor relating to the annual and consolidated financial  
statements presented in the European single electronic format, that  
the presentation of the financial statements intended to be included  
in the annual financial report mentioned in Article L. 451-1-2, I of  
the  French  Monetary  and  Financial  Code  (code  monétaire  et  
financier), prepared under the responsibility of the Chief Executive  
Officer,  complies  with  the  single  electronic  format  defined  in  the  
European  Delegated  Regulation  No  2019/815  of  17 December  
2018.  
assessing  the  discount  rate  in  order  to  evaluate  its  consistency  
with market conditions and duration;  
p
assessing  the  reasonable  nature  of  assumptions  relating  to  pay  
rises, staff turnover and mortality;  
p
reviewing calculations supporting the sensitivity of the liability to  
changes in the discount rate.  
p
Lastly, we verified the appropriateness of the information provided  
in Note 5.4.1 to the parent company financial statements.  
Based  on  the  work  we  have  performed,  we  conclude  that  the  
presentation of the financial statements intended to be included in  
the  annual  financial  report  complies,  in  all  material  respects,  with  
the European single electronic format.  
Specific verifications  
We also performed the other specific verifications required by law  
and  regulations  in  accordance  with  professional  standards  
applicable in France.  
We have no responsibility to verify that the financial statements that  
will ultimately be included by your company in the annual financial  
report filed with the AMF are in agreement with those on which we  
have performed our work.”  
Information given in the Management Report and in the other  
documents with respect to the financial position and the parent  
company financial statements addressed to shareholders  
We have no matters to report regarding the fair presentation and  
consistency  with  the  parent  company  financial  statements  of  the  
information  given  in  the  Management  Report  of  the  Board  of  
Directors,  and  in  the  other  documents  addressed  to  shareholders  
with  respect  to  the  financial  position  and  the  parent  company  
financial statements.  
Appointment of Statutory Auditors  
Mazars was appointed Statutory Auditor of Sopra Steria Group SA  
by  the  shareholders  at  the  General  Meeting  of  1 June  2000,  and  
Auditeurs  et  Conseil  Associés   ACA  Nexia  by  the  shareholders  at  
the General Meeting of 30 June 1986.  
As at 31 December 2020, Mazars was in its 21st consecutive year  
as Statutory Auditor and Auditeurs et Conseil Associés – ACA Nexia  
in  its  35th consecutive  year  as  Statutory  Auditor,  respectively  
21 years and 31 years since the Company’s shares were first listed  
for trading on a regulated market.  
We certify that information relating to payment times as mentioned  
in  Article D. 441-4  of  the  French  Commercial  Code  is  fair  and  
consistent with the parent company financial statements.  
Information relating to corporate governance  
We attest to the existence, in the report of the Board of Directors on  
corporate  governance,  of  the  information  required  by  
Articles L. 225-37-4,  L. 22-10-10  and  L. 22-10-9  of  the  French  
Commercial Code.  
Responsibility of management  
andpersons charged with governance  
in relation to the parent company  
financial statements  
It  is  management’s  responsibility  to  prepare  parent  company  
financial  statements  that  give  a  true  and  fair  view  in  accordance  
with  French  accounting  principles,  as  well  as  to  implement  the  
internal  controls  it  deems  necessary  to  prepare  parent  company  
financial statements that are free of material misstatement, whether  
due to fraud or error.  
Concerning  the  disclosures  made  in  accordance  with  the  
requirements of Article L. 22-10-9 of the French Commercial Code  
relating  to  compensation  and  benefits  paid  or  granted  to  the  
company  officers  and  any  other  commitments  made  to  them,  we  
have verified their consistency with the financial statements, or with  
the  underlying  information  used  to  prepare  those  financial  
statements and, where applicable, with the information obtained by  
your  Company  from  companies  controlling  your  Company  or  
controlled  by  it  that  are  included  in  the  scope  of  consolidation.  
Based on this work, we attest to the accuracy and fair presentation  
of those disclosures.  
On preparing the parent company financial statements, it is up to  
management to assess the Company’s ability to continue as a going  
concern,  and  to  present  in  the  financial  statements,  if  applicable,  
any  necessary  information  relating  to  the  continuity  of  operations  
and apply the going concern assumption unless it is planned that  
the company will be liquidated or cease trading.  
Concerning the disclosures made relating to the elements that your  
Company  considered  likely  to  have  an  impact  in  the  event  of  a  
public  tender  or  exchange  offer  pursuant  to  the  provisions  of  
Article L. 22-10-11  of  the  French  Commercial  Code,  we  verified  
their compliance with the source documents which were provided  
to us. Based on this work, we have no comments to make on these  
disclosures.  
It  is  the  responsibility  of  the  Audit  Committee  to  monitor  the  
process  of  preparing  financial  information  and  monitor  the  
effectiveness  of  internal  control  and  risk  management  systems,  as  
well  as  internal  audit,  where  applicable,  as  regards  procedures  
relating  to  the  preparation  and  processing  of  accounting  and  
financial information.  
Other information  
Pursuant to the law, we have verified that the Management Report  
contains the applicable disclosures as to ownership and control, and  
the identity of the holders of share capital and voting rights.  
The  parent  company  financial  statements  have  been  approved  by  
the Board of Directors.  
260  
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2020 PARENT COMPANY FINANCIAL STATEMENTS  
Statutory Auditors’ report on the parent company financial statements  
management, as well as associated information provided in the  
parent company financial statements;  
Responsibilities of the Statutory  
Auditors relating to the audit  
oftheparent company financial  
statements  
it  assesses  the  appropriateness  of  management’s  application  of  
p
the  going  concern  principle  and,  depending  on  the  evidence  
collected, whether or not any material uncertainty exists relating  
to  events  or  circumstances  that  may  call  into  question  the  
Company’s  ability  to  continue  as  a  going  concern.  This  
assessment  relies  on  evidence  collected  up  to  the  date  of  its  
report, noting that subsequent circumstances or events may call  
into question the continuity of operations. If it concludes that a  
material uncertainty exists, it shall draw readers’ attention to the  
information provided in the parent company financial statements  
relating to this uncertainty or, if this information is notprovided  
or is not relevant, it shall give a qualified certification or refuse to  
certify the financial statements;  
AUDIT AIM AND APPROACH
It is our responsibility to prepare a report on the parent company  
financial statements. Our aim is to obtain reasonable assurance that  
the parent company financial statements taken as a whole are free  
of  material  misstatement.  Reasonable  assurance  corresponds  to  a  
high level of assurance, although this does not guarantee that an  
audit  performed  in  accordance  with  professional  standards  
systematically allows for all material misstatements to be detected.  
Misstatements  may  be  due  to  fraud  or  error  and  are  considered  
material when it can reasonably be expected that they may, taken  
individually or combined, influence the financial decisions of users  
made on the basis of the financial statements.  
it  assesses  the  overall  presentation  of  the  parent  company  
p
financial statements and evaluates whether the parent company  
financial statements reflect underlying transactions and events in  
a way that gives a true and fair view.  
As specified in Article L. 823-10-1 of the French Commercial Code,  
our  assignment  of  certifying  the  financial  statements  does  not  
consist  of  guaranteeing  the  viability  or  quality  of  your  Company’s  
management.  
REPORT TO THE AUDIT COMMITTEE
We send a report to the Audit Committee setting out in particular  
the scope of our audit work and the programme of works carried  
out,  as  well  as  the  conclusions  of  our  work.  We  also  bring  to  its  
attention,  if  applicable,  any  significant  weaknesses  in  internal  
control  procedures  that  we  have  identified  as  regards  procedures  
relating  to  the  preparation  and  treatment  of  accounting  and  
financial information.  
Within  the  framework  of  an  audit  performed  in  accordance  with  
professional  standards  applicable  in  France,  the  Statutory  Auditor  
uses  its  professional  judgment  throughout  the  audit  process.  In  
addition:  
it identifies and assesses the risk of the parent company financial  
p
The  information  provided  in  the  report  to  the  Audit  Committee  
includes  risks  of  material  misstatement,  which  we  deem  to  have  
been  the  most  significant  for  our  audit  of  the  parent  company  
financial  statements  for  the  financial  year  and  which  therefore  
constitute key audit matters, which it is our duty to describe in this  
report.  
statements  containing  material  misstatements,  whether  due  to  
fraud or error, defines and implements audit procedures in light  
of these risks, and collects evidence that it deems sufficient and  
appropriate to form a basis for its opinion. The risk of failure to  
detect a material misstatement due to fraud is higher than in the  
case  of  a  material  misstatement  due  to  error,  as  fraud  may  
involve  collusion,  falsification,  deliberate  omissions,  false  
statements or circumvention of internal control procedures;  
We also provide the Audit Committee with the declaration required  
by  Article 6  of  Regulation  (EU)  No. 537-2014  attesting  to  our  
independence with the meaning of applicable regulations in France  
as set out in particular by Articles L. 822-10 to L. 822-14 of the  
French  Commercial  Code  and  in  the  French  Code  of  Ethics  for  
Statutory  Auditors.  If  applicable,  we  shall  discuss  with  the  Audit  
Committee  the  risks  to  our  independence  and  safeguarding  
measures implemented.  
it familiarises itself with internal controls relevant for the audit in  
p
order  to  define  appropriate  audit  procedures  under  the  
circumstances, and not with the aim of expressing an opinion on  
the effectiveness of internal control procedures;  
it  assesses  the  appropriateness  of  accounting  policies  used  and  
p
the  reasonable  nature  of  accounting  estimates  made  by  
Paris and Courbevoie, 04 March 2021  
The Statutory Auditors  
French original signed by  
ACA Nexia  
Mazars  
Olivier Juramie  
Bruno Pouget  
(1) This is a translation into English of the statutory auditors’ report on the financial statements of the Company issued in French and it is provided solely for the convenience of English  
speaking users.This statutory auditors’ report includes information required by European regulation and French law, such as information about the appointment of the statutory  
auditors or verification of the management report and other documents provided to shareholders. This report should be read in conjunction with, and construed in accordance with,  
French law and professional auditing standards applicable in France.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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2020 PARENT COMPANY FINANCIAL STATEMENTS  
Statutory Auditors’ special report on related-party agreements  
Statutory Auditors’ special report on related-party  
agreements  
General Meeting to approve the financial statements for the financial year ended 31 December 2020  
To the General Meeting of Sopra Steria Group SA,  
2.
AGREEMENTS ALREADY APPROVED AT A
GENERAL MEETING
In our capacity as Statutory Auditors of your Company, we hereby  
submit to you our report on related-party agreements.  
Agreements  approved  during  previous  financial  years  that  
remained in force during the financial year under review  
We  are  required  to  inform  you,  on  the  basis  of  the  information  
provided to us, of the principal terms and conditions as well as the  
grounds  for  the  benefit  to  the  Company  of  those  agreements  
brought  to  our  attention  or  that  we  may  have  discovered  in  the  
course of our audit. We are not required to express an opinion on  
their usefulness and appropriateness or ascertain whether any other  
such  agreements  exist.  In  accordance  with  the  terms  of  
Article R. 225-31  of  the  French  Commercial  Code,  it  is  your  
responsibility to assess the benefit of entering into such agreements  
when they are submitted for your approval.  
In  accordance  with  Article R. 225-30  of  the  French  Commercial  
Code,  we  have  been  informed  that  the  following  agreements  
approved  by  the  shareholders  at  General  Meetings  in  previous  
financial  years  remained  in  force  during  the  financial  year  under  
review.  
2.1.Tripartite framework agreement for assistance entered into  
between your Company, Sopra GMT (a shareholder in your  
Company) and Axway Software (an investee of your  
Company)  
Where applicable, it is also our responsibility to provide you with the  
information  required  by  Article R. 225-31  of  the  French  
Commercial  Code  in  relation  to  the  implementation  during  the  
financial year under review of agreements already approved by the  
shareholders at a General Meeting.  
Under  this  agreement,  Sopra  GMT  carried  out  services  for  your  
Company relating to strategic decision-making, coordination of the  
general policy between your Company and Axway Software, and the  
development  of  synergies  between  these  two  companies,  and  
performs various strategy-related, consulting and assistance services  
particularly with respect to finance and control.  
We  have  carried  out  the  procedures  we  deemed  necessary  in  
accordance  with  the  professional  guidelines  of  the  Compagnie  
Nationale  des  Commissaires  aux  Comptes  (CNCC,  the  French  
national institute of statutory auditors) relating to this engagement.  
These procedures consisted in verifying that the information given  
to us was consistent with the underlying documents.  
This agreement has an unspecified term and will end, in the event  
of termination, with prior notice of 12 months.  
Services are charged to Sopra Steria Group on the basis of actual  
costs  plus  a  7%  mark-up  (excluding  expenses  relating  to  Sopra  
GMT’s administration of its investments, estimated at around 15%  
of the total).  
1.
AGREEMENTS SUBMITTED FOR APPROVAL AT
THE GENERAL MEETING
Sopra Steria Group charges Sopra GMT fees for providing premises,  
IT resources and assistance from the Group’s functional divisions as  
well  as  appropriate  expertise  for  the  assignments  performed  by  
Sopra GMT.  
We hereby inform you that we were not advised of anyagreement  
authorised and entered into during the financial year under review  
that needs to be submitted for shareholder approval at the General  
Meeting  pursuant  to  Article L. 225-38  of  the  French  Commercial  
Code.  
Under  this  agreement,  Sopra  GMT  charged  your  Company  a  net  
amount of €1,074,801 with respect to financial year 2020.  
At  its  meeting  on  28 January  2021,  your  Company’s  Board  of  
Directors confirmed that this agreement still met the criteria under  
which it was authorised, and indicated that it would maintain the  
previously granted authorisation.  
Persons concerned:  
p
Name  
Functions  
Chairman of the Board of Directors of Sopra Steria Group  
Chairman and CEO of Sopra GMT  
Pierre Pasquier  
Director of Sopra Steria Group  
Managing Director and Director of Sopra GMT  
Éric Pasquier  
Kathleen Clark-Bracco  
Permanent representative of Sopra GMT for the Board of Directors of Sopra Steria Group  
262  
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2020 PARENT COMPANY FINANCIAL STATEMENTS  
Statutory Auditors’ special report on related-party agreements  
2.2.Agreement entered into with Éric Hayat Conseil  
For  the  financial  year  ended  31 December  2020,  your  Company  
recognised an expense of €208,500 under this agreement.  
At  its  meeting  of  25 October  2018,  your  Board  of  Directors  
authorised  an  agreement  with  Éric  Hayat  Conseil  for  a  period  
expiring  on  31 December  2024.  This  agreement  relates  to  the  
provision  to  Executive  Management  of  consulting  and  assistance  
services for the commercial development of strategic transactions, in  
return for compensation calculated at a rate of €2,500 (excluding  
taxes) per day.  
At  its  meeting  on  28 January  2021,  your  Company’s  Board  of  
Directors confirmed that this agreement still met the criteria under  
which it was authorised, and indicated that it would maintain the  
previously granted authorisation.  
Person concerned: Person concerned: Éric Hayat, Chairman of Éric  
Hayat Conseil and Vice-Chairman of the Board of Directors of Sopra  
Steria Group.  
Paris and Courbevoie, 04 March 2021  
French original signed by  
ACA Nexia  
Represented by  
Olivier Juramie  
Mazars  
Represented by  
Bruno Pouget  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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2020 PARENT COMPANY FINANCIAL STATEMENTS  
264  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7. Share ownership structure  
General information
Share ownership structure
Employee share ownership
Voting rights
266
267
268
268
268
269
269  
1.  
2.  
3.  
4.  
5.  
6.  
Threshold crossings
Shareholders’ agreements
Agreement between Sopra GMT, Pasquier and Odin families,  
and management  
Control
269
269  
269  
270  
7.  
7.1.
Breakdown of voting rights  
7.2.
7.3.
Members of the Board of Directors  
Measures to govern the control exercised by Sopra GMT  
Share buyback programme
270
270  
270  
8.  
8.1.
Implementation of the share buyback programme in 2020  
Description of the 2021 share buyback programme  
8.2.
Changes in share capital
272
272
9.  
Securities giving access to the share capital – Potential dilution
10.  
11.  
Information on transactions in securities by Directors
or persons mentioned in Article L. 621-18-2 of the French
Monetary and Financial Code
273
Authorisations to issue securities granted to the Board of Directors
at the Combined General Meetings of 12 June 2018 and 9 June 2020
12.  
273
273  
274  
12.1.
12.2.
12.3.
Issue with pre-emptive subscription rights  
Issue without pre-emptive subscription rights  
Authorisations for issues reserved for employees and company officers  
without pre-emptive subscription rights  
274  
Information required by Article L. 22-10-11 of the French Commercial
Code relating to public tender or exchange offers
13.  
274
275
276
276
Monthly share prices and trading volumes on Euronext Paris
Share price performance
14.  
15.  
16.  
Dividend per share
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
265
7
SHARE OWNERSHIP STRUCTURE  
General information  
1.
General information  
The  Group  was  listed  on  the  Paris  Stock  Exchange  on  27 March  
1990.  
Main  financial  indices  including  the  Sopra Steria  Group  
share  
At 31 December 2020, Sopra Steria Group had a share capital of  
€20,547,701. It is made up of 20,547,701 shares with a par value  
of €1 each.  
SBF 120  
CAC ALL-TRADABLE  
CAC ALL SHARES  
CAC MID SMALL  
CAC MID 60  
Codes and classification of the Sopra Steria Group share  
ISIN/Euronext code: FR0000050809  
Ticker symbol: SOP  
CAC TECHNOLOGY  
EURONEXT FAS IAS  
NEXT 150  
Market: Euronext Paris  
CFI: ESEUFB  
(E  = Equities,  S  = Shares,  E  = Enhanced  voting,  U  = Free,  F  
= Fully paid, B = Bearer)  
Main non-financial indices including the Sopra Steria Group  
share  
Type of instrument: Stock  
Euronext Eurozone ESG Large 80  
Euronext Eurozone 300  
Compartment: A (Large Cap)  
Characteristics of the Sopra Steria Group share  
Industry: 9000, Technology  
Euronext Vigeo Europe 120  
Euronext Vigeo Euro 120  
Supersector: 9500, Technology  
Sector: 9530, Software Computer Services  
Subsector: 9533, Computer Services  
Eligible for Share Savings Plan (PEA)  
Eligible for Deferred Settlement Service  
Main tickers for the Sopra Steria Group share  
Euronext: SOP  
CDP ENVIRONMENT ESG FR EW  
EURONEXT CDP ENVIRONMENT FR EOGE  
EURONEXT ENVIRONMENT ESG FR EW  
Ethibel Sustainability Index (ESI) Excellence Europe  
Ethibel Sustainability Index (ESI) Excellence VM  
Gaïa Index  
Bloomberg: SOP: FP  
Reuters: SOPR.PA  
266  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7
SHARE OWNERSHIP STRUCTURE  
Share ownership structure  
2.
Share ownership structure  
At 31/12/2020  
At 31/12/2019  
At 31/12/2018  
%
of  
%
of  
%
of  
%
of  
%
of  
% of  
theoretical exercisable  
theoretical exercisable  
theoretical exercisable  
%
of  
voting  
rights  
voting  
rights  
%
of  
voting  
rights  
voting  
rights  
%
of  
voting  
rights  
voting  
rights  
Shareholders  
Shares  
capital  
Shares  
capital  
Shares  
capital  
Sopra GMT (1)  
Pasquier family  
Odin family  
4,035,669  
111,209  
215,933  
217,224  
19.6%  
0.5%  
1.1%  
1.1%  
29.7%  
0.8%  
1.6%  
1.4%  
29.8%  
0.8%  
1.6%  
1.5%  
4,034,409  
109,939  
214,833  
246,044  
19.6%  
0.5%  
1.0%  
1.2%  
29.5%  
0.8%  
1.6%  
1.7%  
29.6%  
0.8%  
1.6%  
1.7%  
4,034,409  
108,616  
222,729  
245,719  
19.6%  
0.5%  
1.1%  
1.2%  
28.7%  
0.8%  
1.7%  
1.7%  
28.8%  
0.8%  
1.7%  
1.7%  
Management  
o/w Sopra  
Développement (2)  
0
0
0.0%  
0.0%  
1.1%  
0.0%  
0.0%  
1.4%  
0.0%  
0.0%  
1.5%  
1
33,828  
212,215  
0.0%  
0.2%  
1.1%  
0.0%  
0.3%  
1.4%  
0.0%  
0.3%  
1.4%  
1
33,828  
211,890  
0.0%  
0.2%  
1.0%  
0.0%  
0.3%  
1.5%  
0.0%  
0.3%  
1.5%  
o/w SEI (3)  
o/w managers (4)  
217,224  
Agreement between  
Sopra GMT, Pasquier  
and Odin families,  
and management  
4,580,035  
22.3%  
33.6%  
33.6%  
4,605,225  
22.4%  
33.7%  
33.7%  
4,611,473  
1
22.4%  
0.0%  
32.9%  
0.0%  
33.0%  
0.0%  
Soderi  
Agreement between  
Sopra GMT and  
Soderi (5)  
4,034,410  
4,611,474  
19.6%  
22.4%  
28.7%  
32.9%  
28.8%  
33.0%  
Total agreements (6)  
Shares managed on behalf  
of employees  
1,297,939  
6.3%  
8.4%  
8.5%  
1,360,083  
6.6%  
8.4%  
8.4%  
1,440,195  
7.0%  
8.3%  
8.3%  
o/w Corporate mutual  
funds (FCPE), We Share  
employee share  
ownership plan and SIP  
Trust (7)  
o/w Other UK trusts (8)  
Free float  
1,068,079  
229,860  
14,622,915  
46,812  
5.2%  
1.1%  
71.2%  
0.2%  
7.6%  
0.9%  
57.8%  
0.2%  
7.6%  
0.9%  
57.9%  
0.0%  
1,118,381  
241,702  
14,555,686  
26,707  
5.4%  
1.2%  
70.8%  
0.1%  
7.5%  
0.9%  
57.9%  
0.1%  
7.5%  
0.9%  
57.9%  
0.0%  
1,185,013  
255,182  
14,444,709  
51,323  
5.8%  
1.2%  
70.3%  
0.2%  
7.4%  
1.0%  
58.6%  
0.2%  
7.4%  
1.0%  
58.7%  
0.0%  
Treasury shares  
TOTAL
20,547,701
100.0%
100.0%
100.0%
20,547,701
100.0%
100.0%
100.0%
20,547,701
100.0%
100.0%
100.0%
(1) Sopra GMT, a French “société anonyme”, is a holding company for Sopra Steria Group and Axway Software.  
(2) Sopra Développement is a company formed by a group of senior managers whose corporate purpose was to hold shares in Sopra Steria Group and Axway Software. Sopra Développement’s General Meeting declared that the  
liquidation procedure had been completed on 15 October 2020.  
(3) Sopra Executive Investments SEI is a company formed by a group of senior managers whose corporate purpose was to hold shares in Sopra Steria Group. SEI’s General Meeting declared that the liquidation procedure had been  
completed on 12 October 2020  
(4) Managers who signed the shareholders’ agreement with Sopra GMT, the Pasquier and Odin families, SEI and Sopra Développement.  
(5) The agreement with Soderi expired on 12 August 2019.  
(6) Total for the agreement between Sopra GMT, Pasquier and Odin families, and management, and the agreement between Sopra GMT and Soderi.  
(7) SIP Trust is a UK trust that manages shares purchased by employees under a share incentive plan.  
(8) The other UK trusts hold asssets for the benefit of employees in the United Kingdom and India, for example via employee share ownership plans.  
SOPRA GMT’S OWNERSHIP STRUCTURE IS AS FOLLOWS:  
Sopra GMT ownership structure  
31/12/2020  
31/12/2019  
31/12/2018  
Shareholders  
Shares % of capital  
Shares % of capital  
Shares % of capital  
Pasquier family  
Odin family  
318,050  
132,050  
68.27%  
28.34%  
318,050  
132,050  
68.27%  
28.34%  
318,050  
132,050  
68.44%  
28.41%  
Sopra Steria Group managers (active  
and retired)  
15,774  
3.39%  
15,774  
3.39%  
14,624  
3.15%  
TOTAL
465,874
100.00%
465,874
100.00%
464,724
100.00%
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
267
7
SHARE OWNERSHIP STRUCTURE  
Employee share ownership  
3.
Employee share ownership  
At  31 December  2020,  all  the  holdings  managed  on  behalf  of  
employees  accounted  for  6.3%  of  the  share  capital  
(1,297,939 shares) and 8.4% of voting rights.  
the  2014  merger  with  Groupe  Steria  and  the  tendering  by  the  
FCPE  Groupe  Steriactions  and  Steriashares  corporate  mutual  
funds  of  all  their  Groupe  Steria  shares  to  the  public  exchange  
offer, accounting for 369,581 shares;  
p
The holdings managed on behalf of corporate mutual funds (FCPEs)  
and  share  incentive  plans  (SIPs)  in  the  United  Kingdom  made  up  
5.2%  of  the  share  capital  (1,068,079 shares)  and  7.6%  of  voting  
rights. They arose in particular from:  
the SIPs in the United Kingdom, accounting for 136,267 shares.  
p
The shares held by UK trusts, namely SSET and XEBT, for the benefit  
of employees in the UK and India, accounting for 1.1% of the share  
capital  (229,860 shares)  and  0.9%  of  the  voting  rights.  In  2020,  
the  shares  held  by  these  trusts  were  used  to  make  matching  
contributions to the SIPs.  
the 2016, 2017 and 2018 We share employee share ownership  
p
plans  and  the  Sopra  Group  free  share  allotment  plan  of  2012,  
accounting for 562,231 shares;  
4.
Voting rights  
At 31 December 2020, the total number of voting rights that could  
be  exercised  was  26,583,239  and  the  total  number  of  theoretical  
voting rights was 26,630,051.  
7 July 2014 for all fully paid-up shares held in registered form in  
the same shareholder’s name for at least two years.  
At  31 December  2020,  6,082,350 shares  (representing  29.6%  of  
the share capital) held double voting rights.  
In  accordance  with  the  decision  made  at  the  Combined  General  
Meeting of 27 June 2014, double voting rights were introduced on  
5.
Threshold crossings  
In 2020, no statutory shareholding thresholds were crossed that required a report to be filed with the Autorité des Marchés Financiers.  
Crossing of  
%
Shareholder(s)  
Crossing of threshold(s)  
% of  
capital  
held  
Number of  
voting  
voting  
rights  
held  
Date threshold(s)  
crossed  
AMF  
Declaration  
having crossed the threshold(s)  
in voting  
rights  
Number of  
shares  
threshold(s)  
in capital  
Type  
rights  
-
-
-
-
-
-
-
-
-
-
Article 30 of the Company’s Articles of Association states that the  
“Rights to shareholder information – Disclosure obligations”  
Any shareholder who holds more than 3% or more than 4% of the  
Company’s  capital  shall  inform  the  Company  in  the  same  manner  
and  based  on  the  same  methods  of  calculation  as  required  with  
respect to legal thresholds.”  
“All shareholders are entitled to obtain the documents necessary to  
enable  them  to  make  informed  decisions  regarding  the  
management and operations of the Company.  
The  documentation  required  and  its  availability  to  shareholders  is  
established by law and in regulations.  
268  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7
SHARE OWNERSHIP STRUCTURE  
Shareholders’agreements  
6.
Shareholders’ agreements  
senior manager of Sopra Steria Group shares (right of first refusal  
for  Sopra  GMT,  right  of  second  refusal  for  the  Pasquier  family  
group, right of third refusal for the Odin family group and right  
of  fourth refusal  for  Sopra  Développement)  or  by  (ii) Sopra  
Développement  of  Sopra Steria  Group  shares  (right  of  first  
refusal  for  Sopra  GMT,  right  of  second  refusal  for  the  Pasquier  
family group and right of third refusal for the Odin family group).  
The  exercise  price  for  the  pre-emptive  right  shall  be  equal  to  
(i) the price agreed between the transferor and the transferee in  
the event of an off-market transfer, (ii) the average share price  
over  the  ten  trading  days  preceding  the  announcement  of  the  
disposal  in  the  event  of  a  sale  on  the  market,  or  (iii) the  value  
determined for the shares in the context of the transaction, in all  
other cases.  
Agreement between Sopra GMT,  
Pasquier and Odin families,  
and management  
A  shareholders’  agreement  constituting  an  action  in  concert  was  
concluded, for a two-year term, on 7 December 2009 between the  
Pasquier  and  Odin  family  groups,  Sopra  GMT,  Sopra  
Développement and a group of senior managers. It is automatically  
renewable for subsequent terms of two years.  
This agreement includes the following main provisions:  
an  undertaking  by  the  parties  to  act  in  concert  so  as  to  
p
implement  shared  strategies  and,  in  general,  to  approve  any  
significant decisions;  
The senior managers shall refrain from carrying out any transaction  
likely to entail the filing of a mandatory takeover bid.  
an undertaking by the parties to act in concert in connection with  
p
the  appointment  of  the  members  of  Sopra Steria  Group’s  
management bodies and the renewal of these appointments, by  
which the senior managers agree to facilitate the appointment of  
any individuals proposed by the Pasquier and Odin family groups  
and Sopra GMT;  
A  rider  to  this  agreement  was  signed  on  14 December  2012,  
extending  the  agreement  to  include  Sopra  Executive  Investments  
(SEI),  a  company  created  by  a  group  of  Sopra  Group  senior  
managers.  The  main  provisions  of  the  agreement  remain  
unchanged, with SEI granted a pre-emptive right having the same  
ranking as that of Sopra Développement.  
an undertaking by the parties to act in concert in order to ensure  
that  they  always  jointly  hold  at  least  30%  of  the  capital  and  
voting rights of Sopra Steria Group;  
p
Sopra  Executive  Investments  (SEI)  and  Sopra  Développement  were  
wound up and underwent voluntary liquidation in 2020.  
an undertaking by the parties to act in concert in connection with  
any proposed acquisition or disposal corresponding to more than  
0.20% of the capital or voting rights of Sopra Steria Group;  
p
SEI’s  General  Meeting  declared  that  the  liquidation  procedure  
p
had been completed on 12 October 2020;  
Sopra  Développement’s  General  Meeting  made  the  
p
an undertaking by the parties to act in concert in order to adopt  
a  shared  strategy  in  the  event  of  any  takeover  bid  relating  to  
Sopra Steria Group shares;  
p
corresponding declaration on 15 October 2020.  
The shareholders’ agreement remains in force between the Pasquier  
and  Odin  family  groups,  Sopra  GMT  and  a  group  of  senior  
managers.  
a pre-emptive right to the benefit of the Pasquier and Odin family  
groups  and  Sopra  GMT  in  the  event  of  any  disposal  by  (i) a  
p
7.
Control  
7.1. Breakdown of voting rights  
At 31 December 2020:  
7.2. Members of the Board  
of Directors  
Sopra  GMT  held  three  of  the  fourteen  seats  on  the  Board  of  
Directors  at  31 December  2020,  including  the  Chairman  of  the  
Board of Directors.  
the  group  of  shareholders  acting  in  concert  through  the  
p
agreement stated above, within which Sopra GMT, the Group’s  
holding  company,  is  the  main  shareholder,  held  33.6%  of  
theoretical voting rights;  
Two of the six members of the Nomination, Governance, Ethics and  
Corporate Responsibility Committee represent Sopra GMT, including  
the Chairwoman of the Committee.  
the holdings managed on behalf of employees represented 8.4%  
p
of theoretical voting rights.  
The  percentage  of  voting  rights  on  shares  held  by  shareholders  
present  or  represented  at  the  most  recent  Sopra Steria  Group  
General Meeting was approximately 75.7%.  
Sopra GMT is represented on each of the Committees of the Board  
of Directors.  
No other shareholders are specifically represented on the Board of  
Directors.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
269
7
SHARE OWNERSHIP STRUCTURE  
Share buyback programme  
the  selection  process  for  new  Directors,  presented  in  
Section 1.2.3  of  Chapter 3,  "Corporate  Governance".  It  ensures  
that proposals from a range of sources and their prior evaluation  
by the Nominations Committee are taken into account, where the  
controlling  shareholder  only  has  one-third  of  the  seats  and  the  
position of the majority of Independent Directors prevails in the  
event of a tied vote;  
p
7.3. Measures to govern the control  
exercised by Sopra GMT  
The main measures to govern the control exercised by Sopra GMT  
are as follows:  
the  separation  of  the  functions  of  Chairman  of  the  Board  of  
p
Directors and Chief Executive Officer;  
the  terms  of  reference  of  the  specialist  committees,  which  are  
made up of a majority of Independent Directors;  
p
p
the  adoption  of  the  AFEP-MEDEF  code  as  the  Company’s  
p
corporate governance code;  
periodic  assessment  by  the  Board  of  Directors  of  its  ability  to  
meet the shareholders’ expectations.  
the  presence  on  the  Board  of  Directors  of  eight  Independent  
p
Directors and two Directors representing the employees.  
8.
Share buyback programme  
participating  in  the  SIP  in  a  ratio  of  one  free  share  per  share  
acquired.  
8.1. Implementation of the share  
buyback programme in 2020  
This  description  of  the  implementation  of  the  share  buyback  
programme is given pursuant to Article L. 225-211 of the French  
Commercial Code.  
In  addition,  59,732  free  shares  were  remitted  in  connection  with  
the delivery and full and final allotment of free performance shares  
under  the  2017  LTI  plan  instituted  by  Sopra Steria’s  General  
Meeting of 22 June 2016 and allocated on 24 Februaty 2017 and  
25 October 2017 to recipients meeting all the plan’s requirements  
after application of the performance conditions.  
Through  Resolution 11  of  the  Combined  General  Meeting  of  
9 June 2020, the shareholders renewed the authorisation granted  
to the Board of Directors to buy back the Company’s shares as set  
out in Article L. 225-209 of the French Commercial Code and the  
AMF’s  General  Regulation,  for  an  18-month  period  expiring  
8 December 2021.  
Taking into account these items, the Company held 41,412 shares  
allocated for this purpose at 31 December 2020. Their cost price is  
€129.28.  
At  31 December  2020,  Sopra Steria  Group  held  46,812 treasury  
shares, representing 0.2% of the share capital.  
During  the  year  ended  31 December  2020,  this  share  buyback  
programme was used as follows:  
8.2. Description of the 2021 share  
buyback programme  
8.1.1. IMPLEMENTATION OF LIQUIDITY AGREEMENT
At 31 December 2019, 2,639 shares were allocated to the liquidity  
agreement.  
8.2.1. LEGAL FRAMEWORK
Between  1 January  2020  and  31 December  2020,  Sopra Steria  
Group bought back 225,379 shares under the liquidity agreement  
at  an  average  price  of  €124.15  and  sold  222,618 shares  at  an  
average price of €123.93.  
This  description  is  provided  in  accordance  with  the  provisions  of  
articles 241–2  et  seq.  of  the  General  Regulation  of  the  French  
securities regulator (Autorité des Marchés Financiers– AMF) as well  
as  European  Regulation 596/2014  of  16 April  2014  (“MAR  
regulation)  and  in  accordance  with  the  terms  of  article 221–3  of  
the AMF General Regulation.  
At  31 December  2020,  5,400 shares  were  still  held  by  the  
Company  for  the  purposes  of  the  liquidity  agreement.  Their  unit  
cost is €130.88.  
This  programme  will  be  submitted  for  approval  at  the  General  
Meeting of 26 May 2021.  
8.1.2. ALLOCATION TO EMPLOYEES
a. Number of shares and share of capital held  
by the Company  
At  31 December  2019,  24,068 shares  were  allocated  in  order  to  
“allot or sell shares in the Company to employees and/or company  
officers of the Group, in order to cover share option plans and/or  
free  share  plans  (or  similar  plans)  for  the  benefit  of  Group  
employees  and/or  company  officers  as  well  as  any  allotments  of  
shares  in  connection  with  a  company  or  Group  savings  plan  (or  
similar plan), in connection with company profit-sharing and/or any  
other  forms  of  share  allotment  to  the  Group’s  employees  and/or  
company officers”.  
At  28 February  2021,  the  Company’s  capital  was  made  up  of  
20,547,701 shares.  
At  that  date,  the  Company  held  58,186 treasury  shares,  
representing 0.28% of the share capital.  
b. Breakdown by purpose of treasury shares held  
by the Company  
At  28 February  2021,  the  treasury  shares  held  by  the  Company  
broke down by purpose as follows:  
During financial year 2020, the Company acquired 77,971 shares  
at an average price of €135.88.  
implementation of liquidity agreement: 6,879 shares;  
Under the Share Incentive Plan (SIP) employee share ownership plan  
implemented  by  Sopra Steria  Group  in  the  United  Kingdom,  
895 shares  were  transferred  free  of  charge  to  UK  employees  
p
award or sale to employees and/or company officers of the Group,  
coverage  of  share  option  plans  and/or  free  share  plans  (or  similar  
plans) for the benefit of Group employees and/or company officers  
270  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7
SHARE OWNERSHIP STRUCTURE  
Share buyback programme  
as well as any allotments of shares in connection with a company or  
Group  savings  plan  (or  similar  plan),  in  connection  with  company  
profit-sharing  and/or  any  other  forms  of  share  allotment  to  the  
Group’s employees and/or company officers: 51,307 shares.  
to  retire  the  shares  thus  repurchased,  by  way  of  a  capital  
reduction;  
p
p
to  implement  any  market  practice  that  would  come  to  be  
accepted by the AMF, and in general, to perform any operation  
that complies with regulations in force.  
c. Objectives of the new share buyback programme  
The  objectives  of  the  new  share  buyback  programme  to  be  
submitted to shareholders at the General Meeting of 26 May 2021  
are:  
d. Maximum proportion of share capital, maximum number  
and characteristics of capital stock  
The maximum proportion of share capital that may be bought back  
is equal to 10% of Sopra Steria Group’s capital on the buyback day.  
to  obtain  market-making  services  from  an  investment  services  
p
provider  acting  independently  under  the  terms  of a  liquidity  
agreement entered into in compliance with the AMF’s accepted  
market practice;  
At 31 December 2020, the share capital was €20,547,701, made  
up  of  20,547,701 shares,  each  with  a  par  value  of  €1.  On  this  
basis, Sopra Steria Group would be authorised to acquire 10% of  
its share capital at most, i.e. 2,054,770 shares, not including shares  
already held.  
to  award,  sell  or  transfer  shares  in  the  Company  to  employees  
p
and/or  company  officers  of the  Group,  in  order  to  cover  share  
purchase  plans  and/or  free  share  plans  (or  equivalent  plans)  as  
well  as  any  allotments  of shares  under  a  company  or  Group  
savings  plan  (or  equivalent  plan)  in  connection  with  a  
profit-sharing  mechanism,  and/or  any  other  forms  of share  
allotment to the Group’s employees and/or company officers;  
This limit will be assessed on the date of the buybacks to take into  
account  any  capital  increase  or  reduction  operations  that  might  
occur during the programme period.  
e. Maximum purchase price  
to retain the shares bought back in order to exchange them or  
The maximum purchase price per share is €250.  
p
tender them as consideration at a later date for a merger, spin-off  
or  contribution  of assets  and,  more  generally,  for  external  
growth transactions. Shares bought back for such purposes are  
not to exceed, in any event, 5% of the number of shares making  
up the Company’s share capital;  
f. Buyback procedure details  
The  purchase,  sale  or  transfer  by  the  Company  of  its  own  shares  
may be conducted at any time (except during the period of an offer  
for the shares) and by any method, including over the counter, in  
blocks  of  shares  or  through  the  use  of  derivative  financial  
instruments, on one or more occasions.  
to  deliver  the  shares  bought  back,  upon  the  exercise  of rights  
p
attaching  to  securities  giving  access  to  the  Company’s  share  
capital  through  redemption,  conversion,  exchange,  tender  
of warrants  or  any  other  means,  as  well  as  to  execute  any  
transaction covering the Company’s obligations relating to those  
securities;  
g. Duration of buyback programme  
The  programme  will  run  for  18 months  as  from  approval  of  the  
resolution presented at the General Meeting of 26 May 2021, i.e.  
until 25 November 2022.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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Changes in share capital  
9.
Changes in share capital  
At 31 December 2020, Sopra Steria Group had a share capital of €20,547,701. It is made up of 20,547,701 shares with a par value of  
€1 each. Since 2011, the share capital has changed as shown below:  
Number of shares  
Created  
Contributions  
Amount of  
capital  
post-operation  
Nominal  
value  
Premiums  
Year  
Description  
Total  
Nominal value  
or reserves  
Capital increase through the  
exercise of options  
2011  
2011  
€47,415,780  
€11,863,245  
€4  
9,300  
0
11,863,245  
11,863,245  
€37,200  
€265,050  
Capital reduction not  
motivated by losses  
€1  
-€35,589,735  
€35,589,735  
Capital increase through the  
exercise of options  
2011  
2012  
€11,893,486  
€11,893,486  
€1  
€1  
30,241  
-
11,893,486  
-
€30,241  
-
€962,041  
-
None  
Capital increase through the  
exercise of options  
Capital increase during the  
first phase of Sopra’s public  
exchange offer for Steria  
2013  
2014  
€11,919,583  
€18,531,485  
€1  
€1  
26,097  
11,919,583  
18,531,485  
€26,097  
€811,966  
6,611,902  
€6,611,902  
€517,976,403  
Capital increase during the  
second phase of Sopra’s public  
exchange offer for Steria  
Capital increase through the  
exercise of options  
2014  
2014  
€19,429,720  
€19,456,285  
€1  
€1  
898,235  
26,565  
19,429,720  
19,456,285  
€898,235  
€26,565  
€66,128,061  
€1,450,489  
Capital increase through  
the issuance of free shares  
for employees  
2014  
€19,585,300  
€1  
129,015  
19,585,300  
€129,015  
-€129,015  
Capital increase at the time  
of the merger-absorption  
of Steria by Sopra  
Capital increase through the  
exercise of options  
2014  
2015  
€20,371,789  
€20,434,841  
€1  
€1  
786,489  
63,052  
20,371,789  
20,434,841  
€786,489  
€63,052  
€58,941,611  
€2,216,615  
Capital increase through  
the issuance of free shares  
for employees  
2015  
€20,446,723  
€1  
11,882  
20,446,723  
€11,882  
-€11,882  
Capital increase through  
the issuance of free shares  
for employees  
Capital increase through the  
exercise of options  
2016  
2016  
€20,468,033  
€20,531,795  
€1  
€1  
21,310  
63,762  
20,468,033  
20,531,795  
€21,310  
€63,762  
-€21,310  
€3,727,171  
Capital increase through  
the issuance of free shares  
for employees  
2017  
€20,542,701  
€1  
10,906  
20,542,701  
€10,906  
-€10,906  
Capital increase through the  
exercise of options  
2017  
2018  
2019  
2020  
€20,547,701  
€20,547,701  
€20,547,701  
€20,547,701  
€1  
€1  
€1  
€1  
5,000  
20,547,701  
€5,000  
€211,100  
None  
None  
None  
-
-
-
-
-
-
-
-
-
-
-
-
10.
Securities giving access to the share capital –  
Potential dilution  
There are no other securities giving access to the share capital other  
than  those  mentioned  in  Note 5.4,  "Share-based  payments"  in  
Chapter  5,  "2020  Consolidated  Financial  Statements"  of  this  
Universal Registration Document (pages 182 to 183).  
A  Long  Term  Incentive  (LTI)  plan  was  introduced  in  2018.  The  
maximum number of shares that may be delivered on 31 December  
2020  under  this  plan  stands  at  67,680.  As  part  of  the  planned  
delivery  on  1 April  2021,  the  Board  of  Directors  have  opted  to  
acquire these shares in the market to avoid any dilutive effect for  
shareholders.  
272  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7
SHARE OWNERSHIP STRUCTURE  
Information on transactions in securities by Directors or persons mentioned in Article L. 621-18-2 of the French Monetary and Financial Code  
11.
Information on transactions in securities by Directors  
or persons mentioned in Article L. 621-18-2  
of the French Monetary and Financial Code  
Pursuant to article 223–26 of the AMF’s General Regulation, transactions relating to Sopra Steria Group shares in 2020 and referred to in  
Article L. 621-18-2 of the French Monetary and Financial Code were as follows:  
Number  
Transaction  of  
Unit  
price  
Transaction  
amount  
Category(1) Name  
Function  
Description(2)  
date  
shares  
a
a
a
a
Astrid Anciaux*  
Vincent Paris  
Éric Pasquier  
Jean-Bernard  
Rampini*  
Director  
Chief Executive Officer  
Director  
A**  
A**  
A**  
A**  
01/04/2020  
01/04/2020  
01/04/2020  
01/04/2020  
318  
€0.00  
€0.00  
€0.00  
€0.00  
€0.00  
€0.00  
€0.00  
€0.00  
1,905  
1,270  
318  
Non-Voting Director  
a
Solfrid Skilbrigt*  
Xavier Pecquet  
Director  
Chairman of Sopra  
Executive  
A**  
D
01/04/2020  
31/07/2020  
318  
2,000  
€0.00  
€126.57  
€0.00  
€253,140.00  
Investissements  
(SEI) SAS***  
a
Éric Pasquier  
Director  
D
01/12/2020  
1,400  
€130.00  
€182,000.00  
(1) Category a: Members of the Board of Directors and the Chief Executive Officer.  
(2) Description: A: Acquisition; D: Disposal; S: Subscription; E: Exchange; Do: Donation; ESO: Exercise of stock options.  
Term of office ended at the close of the General Meeting of 9 June 2020.  
*
** Allocation of free performance shares under the 2017 LTI.  
*** SEI’s partners voted to declare the conclusion of the liquidation procedure at its General Meeting of 12 October 2020.  
12.
Authorisations to issue securities granted  
to the Board of Directors at the Combined General  
Meetings of 12 June 2018 and 9 June 2020  
12.1. Issue with pre-emptive subscription rights  
Date of GM  
and  
resolution  
Duration of  
delegation  
(Expiry)  
Maximum amount of  
capital increase  
Securities transaction concerned  
Maximum issue amount  
Use during the year  
Nominal amount of  
Capital increase (ordinary shares  
and other securities giving access  
to the share capital)  
€2 billion, if securities  
9 June 2020  
26 months giving access to the share  
50% of the nominal  
share capital  
Resolution 13 (August 2022)  
capital are to be issued  
None  
15% of the amount of  
the capital increase  
Capital increase (ordinary shares  
and other securities giving access  
to the share capital) in the event  
of oversubscription in accordance  
with Resolution 13  
Capital increase through the capitalisation  9 June 2020  
of reserves or the issue of new shares  
15% of the amount of the under Resolution 13,  
capital increase under  
Resolution 13, up to a  
up to a maximum  
of 50% of the total  
maximum of €2 billion nominal share capital  
9 June 2020  
Resolution 17 (August 2022)  
26 months  
Resolution 20 (August 2022)  
26 months  
None  
None  
Amount of discretionary  
Amount of  
reserves discretionary reserves  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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7
SHARE OWNERSHIP STRUCTURE  
Information required by Article L. 22-10-11 of the French Commercial Code relating to public tender or exchange offers  
12.2. Issue without pre-emptive subscription rights  
Duration of  
delegation  
Maximum amount  
of capital increase  
Use during  
the year  
Securities transaction concerned  
Resolution  
(Expiry)  
Maximum issue amount  
20% of the share  
capital, reduced to  
10% of the share  
Nominal amount of  
€2 billion, if securities  
Capital increase (ordinary shares and other  
securities giving access to the share capital)  
9 June 2020  
26 months giving access to the share capital for non-equity  
Resolution 14 (August 2022)  
capital are to be issued  
securities  
None  
None  
Nominal amount of  
Capital increase by way of a public offering  
provided for under no. 1 of Article L. 411-2  
of the French Monetary and Financial Code  
€2 billion, if securities  
9 June 2020  
26 months giving access to the share  
10% of the share  
capital per year  
Resolution 15 (August 2022)  
capital are to be issued  
15% of the amount of  
the capital increase  
15% of the amount of the under Resolution 14  
Capital increase (ordinary shares and other  
securities giving access to the share capital)  
in the event of oversubscription  
capital increase under  
Resolution 14 or 15, up  
to a maximum of  
or 15, up to a  
maximum  
of 10%/20% of the  
share capital  
9 June 2020  
26 months  
in accordance with Resolution 14 or 15  
Resolution 17 (August 2022)  
€2 billion  
None  
None  
None  
10% of the share capital,  
up to a maximum  
of €2 billion  
10% of the share capital,  
up to a maximum  
of €2 billion  
Capital increase as consideration for securities  
tendered in the event of contributions in kind  
9 June 2020  
26 months  
10% of the share  
capital  
Resolution 18 (August 2022)  
Capital increase as consideration for securities  
tendered in the event of a public exchange offer Resolution 19 (August 2022)  
9 June 2020  
26 months  
10% of the share  
capital  
12.3. Authorisations for issues reserved for employees and company officers  
without pre-emptive subscription rights  
Authorised  
percentage  
Date of GM  
and resolution  
Authorised  
percentage  
for executive  
Use during  
the year  
Expiry date  
company officers  
12 June 2018  
Resolution 23  
9 June 2020  
Resolution 21  
38 months  
Free share plans  
Capital increase for employees enrolled in a company  
savings plan  
(August 2021)  
3% (1)  
3% (1)  
0.15%  
None  
None  
26 months  
(August 2022)  
(1) This upper limit, calculated on the basis of the share capital at the date of the authorisation, is cumulative for all issues reserved for employees and company officers.  
13.
Information required by Article L. 22-10-11 of the  
French Commercial Code relating to public tender or   
exchange offers  
Pursuant  to  Article L. 22-10-11  of  the  French  Commercial  Code,  
the elements mentioned in this article are detailed below:  
on transfers of shares: Shares are freely tradable, other than as  
specified  by  applicable  laws  or  regulations  (Article 11  of  the  
Articles of Association).  
1. the  Company’s  ownership  structure  is  presented  in  Section 2,  
"Share ownership structure" of this chapter (page 267);  
The Company has not been informed of any clauses of agreements  
pursuant to Article L. 233-11 of the French Commercial Code other  
than those set out in Section 6 of this chapter (page 269);  
2. there are no restrictions in the Articles of Association:  
on  the  exercise  of  voting  rights:  Fully  paid-up  shares  held  in  
registered form for at least two years have double voting rights  
(Article 29 of the Articles of Association),  
3. any direct or indirect interests in the capital of the Company of  
which  the  latter  has  been  informed  pursuant  to  
Articles L. 233-7  and  L. 233-12  of  the  French  Commercial  
274  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
7
SHARE OWNERSHIP STRUCTURE  
Share price performance  
Code  are  presented  in Chapter, 7  Section 2  of  this  Universal  
Registration Document (page 267);  
of  Association.  “The  Board  of  Directors  determines  the  overall  
business  strategy  of  the  Company  and  supervises  its  
implementation.  Subject  to  the  powers  expressly  conferred  by  
law  to  shareholders’  meetings  and  within  the  limits  of  the  
corporate  objects,  the  Board  of  Directors  may  consider  any  
matter  relating  to  the  proper  operation  of  the  Company  and  
shall  resolve  matters  that  concern  the  Company  by  its  
decisions.”;  
4. there are no holders of securities conferring special controlling  
rights;  
5. there  is  no  control  mechanism  provided  under  an  employee  
share ownership scheme;  
6. agreements  between  shareholders  of  which  the  Company  is  
aware and which may give rise to restrictions on share transfers  
and voting rights are presented in Chapter 7, Sections 2 and 6  
of  this  Universal  Registration  Document,  pages 267  and  269,  
respectively;  
In  addition,  the  Board  of  Directors  was  granted  authority  by  the  
Combined General Meeting of 9 June 2020 under Resolutions 12  
to 21;  
9. agreements concluded by the Company that might be amended  
or  cease  to  apply  in  the  event  of  a  change  of  control  the  
Company mainly concern the syndicated loan agreement signed  
in  July 2014,  amended  in  July 2016  and  in  December 2019,  
and  the  Euro PP bond  issued  by  Sopra Steria  Group  in  
July 2019;  
7. the regulations applicable to the appointment and replacement  
of  the  members  of  the  Board  of  Directors  are  set  forth  in  
Article 14  of  the  Articles  of  Association.  The  regulations  
relating  to  the  amendment  of  the  Company’s  Articles  of  
Association  are  contained  within  Article 33  of  the  Articles  of  
Association, which states that only shareholders voting at an  
Extraordinary  General  Meeting  shall  be  authorised  to  amend  
any and all provisions of the Articles of Association”;  
10. there  are  no  agreements  providing  for  indemnities  payable  to  
members of the Board of Directors or employees if they resign  
or  are  dismissed  without  just  cause  or  if  their  position  is  
terminated due to a takeover bid or exchange.  
8. the  powers  of  the  Board  of  Directors  concerning  the  issuance  
and repurchase of shares are stated in Article 17 of the Articles  
14.
Monthly share prices and trading volumes  
on Euronext Paris  
(Source: Euronext Paris)  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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SHARE OWNERSHIP STRUCTURE  
Share price performance  
15.
Share price performance  
Price (in €)  
Trading volumes  
Number of  
Capital  
(in millions of
Month  
2020-01  
Number of trading  
Average  
days  
High  
Low closing price  
shares traded  
euros)
22  
20  
22  
20  
20  
22  
23  
21  
22  
22  
21  
22  
20  
151.60  
162.00  
148.40  
119.00  
110.30  
117.10  
134.50  
139.80  
143.00  
142.80  
129.40  
137.70  
138.90  
140.80  
141.20  
78.15  
92.30  
91.10  
101.50  
109.00  
124.50  
128.50  
97.25  
101.40  
123.1  
128.90  
146.31  
149.19  
107.22  
102.53  
102.11  
109.16  
118.68  
134.57  
136.87  
129.62  
117.49  
129.72  
134.06  
724,943  
914,393  
1,562,545  
633,557  
674,086  
654,086  
770,371  
591,108  
581,229  
771,219  
802,567  
487,929  
522,825  
105.90  
137.16  
171.34  
65.23  
68.87  
71.50  
92.17  
79.49  
79.64  
94.82  
94.27  
62.94  
70.17  
2020-02  
2020-03  
2020-04  
2020-05  
2020-06  
2020-07  
2020-08  
2020-09  
2020-10  
2020-11  
2020-12  
2021-01  
(Source: Euronext Paris)  
16.
Dividend per share  
Financial year  
Number of shares bearing a dividend  
Dividend per share  
2014  
2015  
2016  
2017  
2018  
2019(1)  
20,062,614  
20,324,093  
20,517,903  
20,516,807  
20,514,876  
0
€1.90  
€1.70  
€2.20  
€2.40  
€1.85  
€0  
(1) Given the current context of the Covid-19 pandemic and in a spirit of responsibility, at its meeting on 9 April 2020, Sopra SteriaGroup’s Board of Directors decided to propose to shareholders at  
the General Meeting of 9 June 2020 not to distribute a dividend for financial year 2019.  
To date, the Board of Directors has not predefined a dividend distribution policy.  
At  its  meeting  of  25  February  2021,  the  Board  of  Directors  of  Sopra  Steria  Group  decided  to  propose  at  the  General  Meeting  of  the  
Shareholders to be held on 26 May 2021 that a dividend of €2.00 per share be distributed. The ex-dividend date will be 1 June 2021. The  
dividend will be paid as of 3 June 2021.  
Dividends not collected before the five-year prescription period expires are paid to the French state.  
276  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
8. Additional information  
Articles of Association
Board of Directors  
278
278  
281  
1.  
1.1.
1.2.
1.3.
Executive Management  
General Meetings  
282  
Person responsible for the Universal Registration Document
and information on the auditing of the Company’s financial statements
2.  
285
285  
285  
2.1.
Person responsible for the Universal Registration Document  
Information relating to the Statutory Auditors  
2.2.
Provisional reporting timetable
Regulatory disclosures in 2020
Documents available to the public
285
286
287
3.  
4.  
5.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
277
8
ADDITIONAL INFORMATION  
Articles of Association  
1.
Articles of Association  
The  Articles  of  Association  and  internal  rules  and  regulations  of  
Sopra Steria  Group  are  available  in  full  on  the  website,  
https://www.soprasteria.com,  in  the  “Investors”  section  under  
“Governance”.  
electronic  communication,  with  a  view  a  to  designating  their  
candidates;  
b) a call for candidates means that a list of proposed candidates  
can be drawn up among those persons meeting the criteria laid  
down  in  Articles L. 225-23  and  L. 225-102  of  the  French  
Commercial Code are eligible to be considered as candidates;  
1.1. Board of Directors  
c) where voting rights attached to shares held by employees are  
exercised  by  members  of  the  supervisory  boards  of  employee  
shareholding  investment  funds,  those  supervisory  boards  may  
together select a candidate. Each supervisory board shall meet  
to  choose  its  preferred  candidate  from  a  list  of  preselected  
candidates.  Representatives  of  the  Company  sitting  on  the  
supervisory  board  are  not  entitled  to  vote  on  this  decision.  
Under the selection process, each preselected candidate shall be  
allocated  a  score  equal  to  the  number  of  shares  held  by  
employee  shareholding  investment  funds  that  voted  for  
him/her. The preselected candidate with the highest score shall  
be selected as the candidate;  
ARTICLE 14 (ARTICLES OF ASSOCIATION) – BOARD OF
DIRECTORS
The Company is administered by a Board of Directors comprising a  
minimum of three members and a maximum of eighteen, subject to  
the exception provided for by law in the event of a merger.  
The  Directors  representing  the  employees  and  employee  
shareholders  are  not  taken  into  account  when  determining  the  
minimum and maximum number of Directors.  
1. Directors appointed by the General Meeting  
1.a.General provisions  
d) where voting rights attached to shares held by employees are  
exercised directly by those employees, the elected or appointed  
representatives  of  those  employee  shareholders  may  select  a  
candidate in accordance with procedures laid down in the rules  
for  candidate  nomination.  Where  a  candidate  is  selected  by  
appointed  representatives,  the  rules  for  candidate  nomination  
may  stipulate  that  a  voting  threshold  must  be  met.  In  such  
cases,  the  required  threshold  may  not  exceed  0.05%  of  the  
company’s  share  capital.  Each  elected  or  appointed  
representative  of  the  employee  shareholders  shall  choose  its  
preferred candidate from a list of preselected candidates. Under  
the  selection  process,  each  preselected  candidate  shall  be  
allocated a score equal to the number of shares held by those  
employees  who  elected  or  appointed  the  representatives  that  
voted for him/her. The preselected candidate with the highest  
score shall be selected as the candidate;  
Directors  are  appointed,  reappointed  or  dismissed  by  the  
shareholders at Ordinary General Meetings.  
No one may be appointed a Director if, having exceeded the age of  
seventy-five  years,  his/her  appointment  results  in  more  than  one  
third  of  Board  members  exceeding  this  age.  Once  this  limit  is  
exceeded,  the  oldest  Director  is  deemed  to  have  resigned  from  
office.  
Directors may be natural or legal persons, with the exception of the  
Director  representing  employee  shareholders,  who  must  be  a  
natural person. When a legal person is appointed as Director, the  
latter names a permanent representative who is personally subject  
to the same conditions, obligations and liabilities as all other Board  
members, without prejudice to the joint and several liability of the  
legal person thus represented.  
e) members  of  supervisory  boards  of  employee  shareholding  
investment  funds  and  elected  or  appointed  representatives  of  
employee shareholders may select the same candidate. In such  
cases,  that  single  candidate  shall  be  presented  at  the  General  
Meeting of Shareholders. The same shall apply if either selection  
process should fail to select a candidate.  
Each Director must own at least one share in the Company.  
1.b.Specific provisions concerning the Director representing  
employee shareholders  
When  the  legal  requirements  are  met,  a  Director  representing  
employee shareholders is elected by the Ordinary General Meeting  
from  two  candidates  proposed  by  the  employee  shareholders  
referred to in Article L. 225-102 of the French Commercial Code.  
The  Director  representing  employee  shareholders  shall  be  elected  
from among the selected candidates by the shareholders voting at a  
General  Meeting  under  the  quorum  and  majority  requirements  
applicable  to  Ordinary  General  Meetings.  The  Board  of  Directors  
shall  present  each  candidate  to  the  shareholders  by  way  of  a  
separate  resolution  and  shall,  as  the  case  may  be,  approve  the  
resolution concerning its own preferred candidate.  
Both candidates for election as the Director representing employee  
shareholders are designated according to the following process:  
a) the rules for the designation of candidates are laid down by the  
Chairman  of  the  Board  of  Directors.  These  rules  include  
provisions relating to the timetable for the various stages in the  
designation  process,  the  procedure  for  identifying  and  
reviewing  all  preselected  candidates,  the  methods  used  to  
designate  the  representatives  of  employee  shareholders  
exercising  voting  rights  attached  to  shares  that  they  own,  in  
addition  to  all  provisions  that  may  be  useful  for  the  smooth  
execution of the abovementioned process. The rule is brought  
to  the  attention  of  members  of  the  supervisory  boards  of  
employee  investment  funds  and,  where  applicable,  employee  
shareholders exercising directly their voting right, by any means,  
and  notably,  without  these  means  of  communication  being  
considered  exhaustive,  by  affixing  posters  and/or  using  
The  candidate  receiving  the  most  votes  shall  be  elected  Director  
representing  employee  shareholders  provided  that  he/she  has  
secured  at  least  50%  of  the  votes  of  those  shareholders  in  
attendance or represented at the General Meeting. In the event of a  
tied vote, the candidate who has served longest as an employee of  
the Company or one of its subsidiaries shall be appointed.  
If  no  candidate  secures  at  least  50%  of  the  votes  of  those  
shareholders in attendance or represented at the General Meeting,  
two  new  candidates  shall  be  put  forward  at  the  next  Ordinary  
General Meeting.  
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Should the Director representing employee shareholders cease to be  
an employee, he/she will automatically be deemed to have stepped  
down  and  his/her  appointment  will  terminate  immediately.  The  
same applies in the event of the loss of status of shareholder within  
the meaning of Article L. 225-102 of the French Commercial Code.  
ARTICLE 15 (ARTICLES OF ASSOCIATION) –
ORGANISATION OF THE BOARD OF DIRECTORS
The Board of Directors elects from among its members a Chairman,  
who must be a natural person in order for the appointment to be  
valid. The Board determines the Chairman’s compensation.  
The Board of Directors may validly meet and vote in the absence of  
the Director representing employee shareholders until such time as  
the latter is appointed at a General Meeting of Shareholders.  
The Chairman shall be appointed for a term that may not exceed  
his/her  term  of  office  as  Director.  The  Chairman  may  be  
reappointed.  The  Board  may  remove  the  Chairman  from  office  at  
any time.  
The provisions laid down in this article cease to apply if, at the close  
of a given financial year, the percentage of the share capital held by  
employees of the Company and any related companies accounts for  
less  than  3%  of  the  total  share  capital.  The  term  of  office  in  
progress will continue for its full duration.  
No  one  over  the  age  of  85 may  be  appointed  Chairman.  If  the  
Chairman  in  office  exceeds  this  age,  he/she  shall  automatically  be  
deemed to have resigned.  
The Board may appoint one or two Vice-Chairmen from among the  
Directors.  
2. Director representing the employees  
When  the  requirements  laid  down  in  paragraph I  of  
Article L. 225-27-1 of the French Commercial Code are met, one or  
two  Directors  representing  the  employees  sit  on  the  Board  of  
Directors  in  accordance  with  the  provisions  of  paragraph II  of  
Article L. 225-27-1 of the French Commercial Code.  
It  can  also  appoint  a  secretary  who  need  not  be  a  Director  or  
shareholder.  
In  the  event  of  the  Chairman’s  absence,  Board  meetings  shall  be  
chaired by any person specifically delegated for this purpose by the  
Chairman. In the absence of this individual, the Board meeting shall  
be chaired by one of the Vice-Chairmen.  
The  Directors  representing  the  employees  are  appointed  by  the  
Company’s  Social  and  Economic  Committee  after  a  call  for  
nominations from within the Company and its French subsidiaries.  
ARTICLE 16 (ARTICLES OF ASSOCIATION) – DECISIONS
OF THE BOARD OF DIRECTORS
When  a  single  seat  is  vacant,  the  successful  candidate  is  chosen  
through by a majority vote in a two-round ballot. When two seats  
are vacant, a list-based system of proportional representation with  
the greatest remainders and no voting-splitting is used.  
The  Board  of  Directors  shall  meet  as  often  as  required  by  the  
Company’s interests, pursuant to a notice of meeting given by its  
Chairman. The Chief Executive Officer or, if the Board has not met  
for  at  least  two  months,  at  least  one  third  of  the  Directors,  may  
request the Chairman to convene a Board of Directors’ meeting to  
deliberate on a specific agenda. The Chairman shall be required to  
comply with such request.  
The  Director  or  Directors  representing  the  employees  are  not  
required to hold shares in the Company.  
Further  to  the  provisions  set  out  in  paragraph 2  of  
Article L. 225-29  of  the  French  Commercial  Code,  should  the  
Company  body  mentioned  in  these  Articles  of  Association  fail  to  
nominate  a  Director  representing  the  employees,  the  decisions  of  
the Board of Directors shall still be deemed to be valid.  
Notices of meetings may be issued by any means, including orally,  
normally at least twenty-four hours in advance.  
Meetings shall be held at the registered office or at any other place  
specified in the notice of meeting.  
3. Term of office of Directors  
In exceptional cases, the Board of Directors may adopt, by means of  
a  written  consultation,  certain  decisions  provided  for  by  the  
regulations in force.  
Directors are appointed for a term of office of four years.  
In  the  year  of  expiry,  Directors’  terms  of  office  shall  expire  at  the  
close  of  the  Ordinary  General  Meeting  convened  to  approve  the  
financial  statements  for  the  previous  financial  year.  They  may  be  
reappointed immediately.  
The Board can only validly conduct business in the presence of at  
least  half  the  Directors.  Decisions  shall  be  adopted  by  a  majority  
vote of the members present or represented.  
By  exception,  upon  their  first  appointment  following  the  
modification of the Articles of Association taking effect on 9 June  
2020, Directors’ terms of office appointed by the General Meeting  
may be set at 1, 2 or 3 years such that the renewal of directorships  
is staggered evenly from year to year.  
In the event of a tie, the Chairman of the Board of Directors shall  
have the casting vote. If the Chairman of the Board of Directors is  
not present, the meeting Chairman shall have no casting votein the  
event of a tie.  
An  attendance  sheet  is  signed  by  the  Directors  taking  part  in  the  
Board meeting, either in person or by proxy.  
Should one or more seats held by Board members appointed at the  
General  Meeting  become  vacant  between  two  General  Meetings,  
with  the  exception  of  that  held  by  the  Director  representing  
employee  shareholders,  the  Board  may  make  temporary  
appointments,  in  accordance  with  the  requirements  of  
Article L. 225-24  of  the  French  Commercial  Code.  A  Director  
appointed  to  replace  another  Director  performs  his/her  duties  for  
the  remainder  of  the  term  of  office  of  the  individual  previously  
serving in this position.  
Internal  rules  and  regulations  shall  be  defined  for  the  Board  of  
Directors.  
These  internal  rules  and  regulations  may  include  a  provision  
whereby  Directors  who  participate  in  the  meeting  by  
videoconference  or  any  other  means  of  telecommunication  that  
enables  them  to  be  identified  as  required  by  law,  shall  be  
considered to be present for the purpose of calculating the quorum  
and majority.  
When  a  vacancy  for  a  Director  representing  the  employees  arises  
during their term of office, the Director chosen as an alternate by  
the Company’s Social and Economic Committee performs the duties  
for the remainder of the term of office of the individual previously  
serving in this position.  
This  provision  shall  not  apply  for  the  adoption  of  any  of  the  
following decisions:  
approving the annual financial statements and the consolidated  
p
financial statements, and preparing the Management Report and  
the Group Management Report.  
The decisions of the Board of Directors shall be recorded in minutes  
prepared in accordance with legal provisions in force and signed by  
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the  Chairman  of  the  meeting  and  at  least  one  Director.  If  the  
Chairman  of  the  meeting  is  unable  to  act,  the  minutes  shall  be  
signed by at least two Directors.  
Board  meetings  are  chaired  by  the  individual  delegated  for  this  
purpose  by  the  Chairman  of  the  Board  of  Directors.  In  the  
absence of this individual, the Board meeting is chaired by oneof  
the two Vice-Chairmen;  
p
p
Copies  or  extracts  of  these  minutes  shall  be  certified  by  the  
Chairman  of  the  Board  of  Directors,  the  Chief  Executive  Officer,  a  
Director  temporarily  appointed  to  act  as  Chairman  or  an  agent  
authorised for such purpose.  
the meeting Chairman does not have a casting vote in theevent  
of a tie.  
B. Operating procedures of the Company, governance  
and control of Executive Management  
ARTICLE 17 (ARTICLES OF ASSOCIATION) – POWERS
OF THE BOARD OF DIRECTORS
The Chairman of the Board of Directors ensures the smooth running  
of the Board of Directors and the Board’s standing committees, the  
relations  of  these  bodies  with  Executive  Management  and  the  
implementation of best practices in corporate governance.  
The  Board  of  Directors  shall  establish  the  Company’s  business  
policies  and  ensure  they  are  carried  out  in  accordance  with  its  
corporate  interest,  while  giving  consideration  to  the  social  and  
environmental implications of its business activities. Subject to the  
powers  expressly  conferred  by  law  to  shareholders’  meetings  and  
within  the  limits  of  the  corporate  objects,  the  Board  of  Directors  
may  consider  any  matter  relating  to  the  proper  operation  of  the  
Company and shall resolve matters that concern the Company by its  
decisions.  
The  Chairman  of  the  Board  of  Directors  ensures  that  the  Group’s  
values are upheld.  
The Chairman of the Board of Directors makes sure that Directors  
are  able  to  carry  out  their  duties,  and  that  they  have  adequate  
information.  
The  Chairman  of  the  Board  of  Directors  ensures  open  lines  of  
communication  at  all  times  between  the  Board  of  Directors  and  
Executive Management. As such, the Chairman also keeps abreast  
of,  and  must  be  informed  of,  the  Group’s  circumstances  and  any  
decisions  being  considered  whenever  they  are  likely  to  have  a  
significant impact on the conduct of business activities. To thisend,  
the  Chairman  is  kept  informed  of  developments  throughout  the  
preparation of planned operations subject to prior approval by the  
Board of Directors and may offer comments on such plans.  
In its relations with third parties, the Company shall be bound by  
the  acts  of  the  Board  of  Directors  that  exceed  the  scope  of  the  
corporate objects, unless the Company proves that the third party  
was  aware,  or  that  in  light  of  the  circumstances  could  not  have  
been unaware, that the act was not within said corporate objects.  
However,  the  mere  publication  of  the  Articles  of  Association  shall  
not constitute such proof.  
The Board of Directors shall carry out all controls and verifications it  
deems  necessary.  Each  Director  is  entitled  to  be  provided  with  all  
documents  and  information  necessary  for  the  performance  of  his  
duties.  
He/she  may  draw  on  the  expertise  of  the  Board  committees  and  
their  chairmen  and  enjoys  unrestricted  access  to  Executive  
Management and functional and operational departments.  
The  Board  may  grant  all  agents  of  its  choice  all  delegations  of  
powers, within the limits of the powers it holds pursuant to law and  
these Articles of Association.  
C. Relations with shareholders  
The Chairman reports to the shareholders on the composition and  
the manner in which the work of the Board of Directors is prepared  
and  organised,  as  well  as  on  the  internal  control  and  risk  
management procedures put in place by the Group.  
The  Board  may  create  committees  charged  with  studying  matters  
that  the  Board  or  the  Chairman  submits  for  their  opinion  and  
review. It determines the composition and the terms of referenceof  
the committees, which operate under its responsibility.  
The Chairman presides over General Meetings.  
In  collaboration  with  the  Chief  Executive  Officer,  the  Chairman  
ensures  the  appropriate  management  of  the  Company’s  relations  
with its major shareholders.  
Under a delegation of powers granted at an Extraordinary General  
Meeting, the Board of Directors may amend the Company’s Articles  
of  Association  to  ensure  compliance  with  legal  and  regulatory  
requirements,  subject  to  ratification  at  the  following  Extraordinary  
General Meeting.  
D. Support for Executive Management  
In agreement with the Chief Executive Officer, the Chairman of the  
Board of Directors may take part in actions to address any issues of  
interest  to  the  Company  or  the  Group,  notably  those  relating  to  
business  activities,  strategic  decisions  or  projects  (in  particular  
involving investments or divestments), partnership agreements and  
relations  with  employee  representative  bodies,  risks  and  financial  
disclosures.  
ARTICLE 18 (ARTICLES OF ASSOCIATION) – POWERS
OF THE CHAIRMAN OF THE BOARD OF DIRECTORS
The  Chairman  of  the  Board  of  Directors  organises  and  directs  the  
work  of  the  Board  of  Directors,  on  which  he/she  reports  to  the  
General  Meeting.  He/she  ensures  the  smooth  running  of  the  
Company’s  management  bodies  and,  in  particular,  that  the  
Directors are able to carry out their duties.  
In agreement with the Chief Executive Officer, he/she may also take  
part in any meetings.  
E. Representation of the Company and the Group  
ARTICLE 2 (INTERNAL RULES AND REGULATIONS
OF THE BOARD OF DIRECTORS) – ROLE
The Chairman of the Board of Directors represents the Board in its  
relations with third parties, apart from exceptional circumstances or  
in  the  case  of  specific  assignments  conferred  upon  individual  
Directors.  In  coordination  with  the  Chief  Executive  Officer,  the  
Chairman of the Board of Directors makes every effort to promote  
the  values  and  image  of  the  Group  in  all  circumstances.  In  
agreement  with  the  Chief  Executive  Officer,  the  Chairman  of  the  
Board  of  Directors  may  represent  the  Group  in  its  high-level  
relations, particularly with major partners or clients and government  
authorities, on the domestic and international fronts, and in terms  
of both internal and external communications.  
OF THE CHAIRMAN OF THE BOARD OF DIRECTORS
A. Organisation and steering of the work of the Board  
of Directors  
The  Chairman  of  the  Board  of  Directors  organises  and  directs  the  
work of the Board of Directors.  
The  Chairman  of  the  Board  of  Directors  sets  the  schedule  and  
agenda for meetings of the Board of Directors.  
In the absence of the Chairman of the Board of Directors:  
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Conditions for the exercise of the Chairman of the Board  
of Directors’ prerogative powers  
Without  prejudice  to  the  conditions  above  or  to  other  legal  
requirements, an individual shall not simultaneously hold more than  
five offices as a Chief Executive Officer, member of a management  
board, sole executive officer, Director or member of the Supervisory  
Board of sociétés anonymes having their registered offices in France.  
For  the  purposes  of  this  Article,  where  a  Director  acts  as  Chief  
Executive Officer, this shall count as a single office.  
The  duties  assumed  by  the  Chairman  of  the  Board  of  Directors  
require  the  Chairman  to  devote  his/her  time  to  the  Company.  The  
initiatives undertaken and the actions carried out by the Chairman in  
the performance of his/her duties are taken into consideration by the  
Board of Directors in determining the Chairman’s compensation.  
This  number  shall  be  reduced  to  three  for  offices  held  within  
companies, even where registered outside France, whose shares are  
traded on a regulated market for persons acting as Chief Executive  
Officer, member of a management board, Director or sole executive  
officer in a company whose shares are traded on a regulated market  
and  which  employs  at  least  5,000 permanent  employees  in  the  
company and its direct or indirect subsidiaries, and whose registered  
offices  are  located  in  France,  or  at  least  10,000 employees  in  the  
company and its direct or indirect subsidiaries, and whose registered  
offices are located in France and elsewhere.  
The Chairman of the Board of Directors fulfils his/her responsibilities  
in recognition of those assumed by the Chief Executive Officer and  
the Board of Directors.  
ARTICLE 20 (ARTICLES OF ASSOCIATION) –
COMPENSATION OF CORPORATE OFFICERS
AND DIRECTORS
1. The shareholders at a General Meeting may grant the Directors  
an  annual  fixed  compensation,  the  amount  of  which  shall  be  
booked  as  operating  expenses.  Such  amount  shall  be  
maintained  until  a  new  decision  is  adopted.  The  Board  of  
Directors  shall  determine  the  allocation  thereof  among  the  
Directors, in accordance with applicable laws.  
For the purposes of applying this latter limit, positions as Director or  
member of the Supervisory Board held by the Chief Executive Officer,  
member of a management board, Director or sole executive officer  
of  companies  whose  main  business  is  the  acquisition  and  
management  of  investment  holdings,  within  the  meaning  of  
Article L. 233-2  of  the  French  Commercial  Code,  shall  be  
disregarded for these purposes.  
2. The  Board  of  Directors  determines  the  compensation  of  the  
Chairman of the Board of Directors, the Chief Executive Officer  
and  any  Deputy  Chief  Executive  Officers,  in  accordance  with  
applicable laws.  
Any individual in breach of the provisions concerning multiple offices  
shall  resign  one  of  the  positions  within  three  months  of  his/her  
appointment or, in the event of a derogation, from the position at  
issue  within  three  months  of  the  event  that  causes  the  person  to  
cease  complying  with  the  conditions  set  by  law.  On  expiry  of  the  
three-month period, the person is automatically dismissed and must  
return  the  compensation  received,  although  the  validity  of  the  
deliberations in which he/she took part is not called into question.  
3. The  Board  of  Directors  may  also  grant  extraordinary  
remuneration  for  missions  or  assignments  entrusted  to  
Directors, in accordance with applicable laws. Directors shall not  
receive  any  remuneration  from  the  Company,  whether  
permanent or otherwise, other than the remuneration specified  
in the preceding paragraphs, unless they have entered into an  
employment  contract  with  the  Company,  in  accordance  with  
applicable laws.  
1.2. Executive Management  
ARTICLE 21 (ARTICLES OF ASSOCIATION) – MULTIPLE
OFFICES
ARTICLE 19 (ARTICLES OF ASSOCIATION) – EXECUTIVE
MANAGEMENT
An individual shall not simultaneously hold more than five offices as  
a  Director  or  a  member  of  the  Supervisory  Board  of  sociétés  
anonymes that have their registered offices in France.  
1. Operating procedures  
By  exception  to  the  foregoing  provisions  and  for  the  purposes  of  
applying  this  article,  offices  held  by  a  person  as  a  Director  or  
member of the Supervisory Board of a company that is controlled,  
within the meaning of Article L. 233-16 of the French Commercial  
Code, by the company in which that person is a Director shall not  
be taken into account for these purposes.  
Responsibility  for  the  Executive  Management  of  the  Company  is  
assumed  by  either  the  Chairman  of  the  Board  of  Directors  or  by  
another  natural  person  appointed  by  the  Board  of  Directors  and  
holding the title of Chief Executive Officer.  
The Board of Directors chooses one or other of the aforementioned  
methods of executive management.  
Pursuant  to  the  above  provisions,  the  positions  of  Directors  of  
companies whose shares are not traded on a regulated market or  
are  controlled,  within  the  meaning  of  Article L. 233-16  of  the  
French Commercial Code, by the same company only countas one  
position,  provided  the  number  of  such  positions  held  does  not  
exceed five.  
The  decision  of  the  Board  of  Directors  relating  to  the  choice  of  
management method is taken on the basis of a majority of Directors  
present or represented. Shareholders and third parties are informed of  
this choice in the conditions provided for by the regulations in force.  
The choice made by the Board of Directors applies for an unlimited  
period.  
An individual may not simultaneously hold more than one position  
as Chief Executive Officer, member of a management board or sole  
Chief  Executive  Officer  of  sociétés  anonymes  that  have  their  
registered offices in France. In derogation of the foregoing, a second  
position as Chief Executive Officer, member of a management board  
or  sole  Chief  Executive  Officer  may  be  held  in  a  company  that  is  
controlled,  within  the  meaning  of  Article L. 233-16  of  the  French  
Commercial Code, by the company of which he/she is Chief Executive  
Officer.  Another  position  as  Chief  Executive  Officer,  member  of  a  
management  board  or  sole  executive  officer  may  be  held  in  a  
company  if  the  shares  of  neither  of  these  two  companies  are  
admitted to trading on a regulated market.  
2. Executive Management  
The Chief Executive Officer is a natural person who may or may not  
be a Director.  
The term of office of the Chief Executive Officer is determined by the Board  
of  Directors  at  the  time  of  his/her  appointment.  However,  if  the  Chief  
Executive Officer is also a Director, his/her term of office as Chief Executive  
Officer may not exceed that as Director.  
No one over the age of 77 may be appointed as Chief Executive Officer.  
Once  the  Chief  Executive  Officer  has  reached  this  age  limit,  he/she  is  
deemed to have resigned from office.  
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The Chief Executive Officer may be dismissed at any time by the Board of  
Directors. In the event of unfair dismissal, he/she may be entitled to damages,  
except when he/she also serves as Chairman of the Board of Directors.  
Conditions for the exercise of the Chief Executive Officer’s  
prerogative powers  
The  Chief  Executive  Officer  works  closely  with  the  Chairman  of  the  
Board of Directors to ensure open lines of communication at all times  
between  the  Board  of  Directors  and  Executive  Management.  He/she  
also keeps the Chairman informed of the Group’s circumstances and  
any  decisions  being  considered  whenever  they  are  likely  to  have  a  
significant impact on the conduct of business activities.  
The Chief Executive Officer shall have the broadest possible powers to act  
in all circumstances in the name of the Company. He/she exercises his/her  
powers  within  the  limits  of  the  corporate  purpose  and  subject  to  those  
expressly granted to General Meetings and the Board of Directors by the  
law.  
The  types  of  decisions  identified  in  this  section  require  the  prior  
authorisation  of  the  Board  of  Directors,  or  of  the  Chairman  
whenever the Board delegates its powers to him/her in this respect,  
under  the  conditions  defined  by  the  Board.  The  Chairman  must  
report  to  the  Board  of  Directors  on  any  authorisations  given  by  
him/her  in  connection  with  these  delegations.  These  decisions  are  
prepared  and  discussed  in  advance  by  the  Chief  Executive  Officer  
and the Chairman of the Board of Directors.  
He/she  represents  the  Company  in  its  dealings  with  third  parties.  The  
Company is bound even by the actions of the Chief Executive Officer falling  
outside the scope of the corporate purpose, unless it can prove that the  
third party knew that such action exceeded the corporate purpose or that  
it  could  not  ignore  it  in  the  circumstances,  it  being  excluded  that  
publication of the Articles of Association alone constitutes such proof.  
3. Deputy Chief Executive Officers  
On a proposal from the Chief Executive Officer, whether this position is held  
by  the  same  person  serving  as  Chairman  of  the  Board  of  Directors  or  by  
another person, the Board may appoint one or more natural persons to assist  
the Chief Executive Officer, with the title of Deputy Chief Executive Officer.  
Under the aforementioned conditions, the decisions requiring prior  
approval by the Board of Directors are those that are highly strategic  
in  nature  or  that  are  likely  to  have  a  significant  impact  on  the  
financial  position  or  commitments  of  the  Company  or  any  of  its  
subsidiaries,  and  in  particular  decisions  falling  into  two  main  
categories, as listed below:  
The  Board  of  Directors  may  appoint  as  many  as  five  Deputy  Chief  
Executive  Officers,  who  may  or  may  not  be  selected  from  among  its  
members.  
decisions relating to strategy implementation:  
p
The age limit is set at 65 years. Once a Deputy Chief Executive Officer has  
reached this age limit, he/she is deemed to have resigned from office.  
adaptation of the Group’s business model,  
the  acquisition  or  disposal  of  companies  or  businesses,  for  
transactions in amounts greater than €10 million,  
Deputy  Chief  Executive  Officers  may  be  dismissed  at  any  time  by  the  
Board of Directors on a proposal from the Chief Executive Officer. In the  
event of unfair dismissal, Deputy Chief Executive Officers may be entitled  
to damages.  
any  investment  or  divestment  decision  in  an  amount  greater  
than €10 million,  
entering into strategic alliances;  
When  the  Chief  Executive  Officer  ceases  to  carry  out  or  is  prevented  
from  carrying  out  his/her  duties,  the  Deputy  Chief  Executive  Officers  
retain  their  duties  and  remits  until  the  appointment  of  a  new  Chief  
Executive Officer, unless decided otherwise by the Board of Directors.  
decisions relating to organisational matters:  
p
the  appointment  or  dismissal  of  any  member  of  the  
management  team  (Executive  Committee  members)  with  the  
authority granted to the Chairman by the Board of Directors,  
In agreement with the Chief Executive Officer, the Board of Directors  
determines  the  scope  and  duration  of  the  powers  conferred  on  the  
Deputy Chief Executive Officers. In their dealings with third parties, the  
Deputy  Chief  Executive  Officers  have  the  same  powers  as  the  Chief  
Executive Officer.  
any significant change in the organisation or internal operating  
procedures,  with  authority  delegated  to  the  Chairman  by  the  
Board of Directors.  
1.3. General Meetings  
ARTICLE3 (INTERNAL RULES AND REGULATIONS
OF THE BOARD OF DIRECTORS) – ROLE OF CHIEF
EXECUTIVE OFFICER
ARTICLE25 (ARTICLES OF ASSOCIATION) – GENERAL
MEETINGS
The Chief Executive Officer, assisted by one or more Deputy Chief  
Executive Officers, has authority over the entire Group, directing all  
its  activities.  He/she  is  involved  in  formulating  strategy  within  the  
framework  mapped  out  by  the  Chairman.  He/she  then  has  
responsibility for implementing it once it has been approved by the  
Board of Directors.  
General Meetings are convened and held under the conditions laid  
down by the law.  
The decisions collectively made by the shareholders shall be taken in  
General  Meetings  characterised  either  as  Ordinary  General  
Meetings,  Extraordinary  General  Meetings  or  Special  General  
Meetings depending on the nature of the decision to be taken.  
The Chief Executive Officer is vested with the broadest powers to act  
in  all  circumstances  on  behalf  of  the  Company.  He/she  represents  
the  Company  in  its  dealings  with  third  parties.  He/she  chairs  the  
Group’s Executive Committee.  
Special General Meetings are called for the holders of shares of a  
given category to decide upon any changes to the rights attached to  
shares in this category.  
The Chief Executive Officer exercises his/her powers within the limits  
of  the  corporate  purpose,  all  applicable  laws,  the  Articles  of  
Association, the decision of the Board of Directors relating to his/her  
appointment and these internal rules and regulations.  
The  decisions  taken  by  General  Meetings  are  binding  for  all  the  
shareholders,  including  absentee  and  dissenting  shareholders  and  
those lacking legal capacity.  
The  Chief  Executive  Officer  is  also  responsible  for  providing  the  
Board of Directors and all its committees with any information they  
may require and for implementing all decisions taken by the Board.  
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Articles of Association  
ARTICLE 26 (ARTICLES OF ASSOCIATION) – VENUE
AND PROCEDURE FOR CONVENING GENERAL MEETINGS
ARTICLE 28 (ARTICLES OF ASSOCIATION) – ACCESS
TO GENERAL MEETINGS – POWERS – COMPOSITION
General  Meetings  shall  be  convened  by  the  Board  of  Directors.  
Failing this, they may also be convened by the Statutory Auditors or  
by a court-appointed agent, in accordance with the law.  
The  General  Meeting  shall  be  composed  of  all  shareholders,  
regardless  of  the  number  of  shares  they  hold,  who  attend  the  
Meeting either in person or by proxy.  
Meetings  shall  be  held  at  the  registered  office  or  at  any  other  
location specified in the notice of meeting.  
All  shareholders  have  the  right  to  participate  in  General  Meetings  
provided they furnish proof, in accordance with legal and regulatory  
requirements, that their shares are registered on accounts in their  
names  or  on  their  behalf  in  the  name  of  their  registered  
intermediary,  or  on  the  registered  share  accounts  kept  by  the  
Company,  or  on  the  bearer  share  accounts  kept  by  an  authorised  
intermediary.  
General Meetings shall be convened by means of a notice published  
either in a journal authorised to publish legal announcements in the  
area  where  the  registered  office  is  located,  or  in  the  Bulletin  des  
Annonces Légales Obligatoires (BALO, the French journal of official  
legal  announcements),  at  least  two  weeks  before  the  General  
Meeting.  
Any  shareholder  may  be  represented  by  his  or  her  spouse,  the  
partner  with  whom  he  or  she  has  entered  into  a  pacte  civil  de  
solidarité  (PACS,  the  French  civil  union  contract),  another  
shareholder or any other private individual or legal entity of his or  
her choice; If a shareholder does not name a proxy holder in a proxy  
form submitted, the Chairman of the General Meeting shall vote in  
favour of proposed resolutions submitted for approval by the Board  
of  Directors,  and  against  any  other  proposed  resolutions.  For  any  
other vote, the shareholder shall choose a proxy holder who agrees  
to vote as directed by the shareholder.  
However,  if  all  the  shares  are  held  in  registered  form,  these  
announcements are not mandatory, and the General Meeting may  
be  convened  by  giving  notice  to  each  shareholder  by  registered  
letter, at the Company’s expense.  
At least 35 days before each shareholders’ meeting, the Company  
shall publish in the BALO the notice required by Article R. 225-73  
of the French Commercial Code.  
Shareholders  who  have  held  registered  shares  for  at  least  one  
month prior to the date on which the notice of meeting is published  
shall be given notice of all shareholders’ meetings by ordinary mail.  
The legal representatives of legally incapable shareholders and the  
persons representing legal entities that hold shares in the Company  
may attend General Meetings whether they are shareholders or not.  
However, as provided by regulations, they may give the company a  
written authorisation to send these notifications by electronic mail  
instead  of  by  letter.  Shareholders  shall  provide  the  Company  with  
their email address for this purpose. Shareholders may also at any  
time request, in a letter sent by recorded delivery (signed for), that  
postal delivery be used instead of electronic transmission.  
If  so  decided  by  the  Board  of  Directors  when  convening  the  
Meeting, shareholders may also take part by videoconference or any  
other  means  of  telecommunication,  including  the  Internet,  which  
permits them to be identified as provided by the law.  
Shareholders  who  participate  in  a  General  Meeting  by  
videoconference or other means of telecommunication that enables  
them  to  be  identified  in  a  manner  and  in  accordance  with  
procedures  in  compliance  with  regulatory  provisions  shall  be  
deemed  present  for  the  purposes  of  calculating  the  quorum  
and majority.  
Shareholders may also ask to be notified of any General Meeting by  
registered letter if they have forwarded to the Company the amount  
necessary to cover the cost of sending such a letter.  
In  the  event  that  the  General  Meeting  is  unable  to  deliberate  
because the required quorum is not present, a second meeting, and  
if applicable, a deferred second meeting, shall be convened at least  
ten days in advance in the same manner as the first meeting.  
All shareholders may be represented by another person at General  
Meetings  or  vote  remotely  by  filling  in  a  form  addressed  to  the  
Company,  as  provided  for  in  law  and  the  regulations,  either  on  
paper or electronically, depending on the procedure adopted by the  
Board of Directors and stipulated in the notice of meeting.  
The notice and the letters inviting the shareholders to this second  
General  Meeting  shall  feature  the  date  and  agenda  of  the  first  
General Meeting. If the date of a General Meeting is postponed by  
court order, the court may set a different time period.  
Two  Economic  and  Social  Council  members,  appointed  by  the  
Council as laid down by law, may attend General Meetings. At their  
request,  they  shall  be  heard  during  deliberations  on  all  matters  
requiring a unanimous vote of the shareholders.  
The notice and letters convening the Meeting must contain all the  
information required by law.  
ARTICLE 27 (ARTICLES OF ASSOCIATION) – AGENDA
ARTICLE 29 (ARTICLES OF ASSOCIATION) – VOTING
RIGHTS
The  agenda  for  the  General  Meeting  is  decided  by  the  person(s)  
convening the Meeting.  
The voting right attached to capital shares or dividend shares shall  
be  proportional  to  the  portion  of  the  capital  they  represent.  
With the same par value, each share shall entitle the holder to the  
same number of votes, with a minimum of one vote.  
One or more shareholders representing at least the portion of share  
capital  required  by  law  and  acting  in  accordance  with  legal  
requirements and time periods, may request that specific items of  
business  or  draft  resolutions  be  added  to  the  General  Meeting’s  
agenda.  
However,  double  voting  rights  are  allocated  to  all  fully  paid-up  
shares that are proved to have been registered in the name of the  
same holder for at least two years up to that time. In the event of a  
capital  increase  by  capitalisation  of  reserves,  earnings  or  issue  
premiums, double voting rights shall be allocated upon issuance to  
registered  shares  freely  granted  to  a  shareholder  in  proportion  to  
existing  shares  for  which  this  shareholder  was  entitled  to  benefit  
from this right.  
The Economic and Social Council may also request the inclusion of  
proposed resolutions in the agenda.  
Items  of  business  not  appearing  on  the  agenda  may  not  be  
considered at the General Meeting. However, the General Meeting  
can in all circumstances dismiss and replace one or more Directors.  
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ARTICLE 30 (ARTICLES OF ASSOCIATION) –
RIGHTS TO SHAREHOLDER INFORMATION –
DISCLOSURE OBLIGATIONS
ARTICLE 33 (ARTICLES OF ASSOCIATION) –
EXTRAORDINARY GENERAL MEETING
The  Extraordinary  General  Meeting  alone  shall  be  authorised  to  
amend  the  Articles  of  Association.  However,  it  may  not  increase  
shareholders’  commitments,  except  in  the  case  of  transactions  
resulting from a duly completed reverse stock split.  
All shareholders are entitled to obtain the documents necessary to  
enable  them  to  make  informed  decisions  regarding  the  
management and operations of the Company.  
It is only able to validly conduct business, when convened for the  
first time, if the shareholders attending the Meeting or represented  
by proxy or having voted remotely represent at least one quarter of  
the total voting rights, and one fifth of the total voting rights when  
convened for the second time. If this latter quorum is not attained,  
the second meeting may be postponed to a date no later than two  
months after the date for which the second meeting was originally  
convened. For this postponed meeting, a quorum of one fifth of the  
shares with voting rights shall also be required.  
The  documentation  required  and  its  availability  to  shareholders  is  
established by law and in regulations.  
Any shareholder who holds more than 3% or more than 4% of the  
Company’s capital shall inform the Company in the same manner  
and  based  on  the  same  methods  of  calculation  as  required  with  
respect to legal thresholds.  
ARTICLE 31 (ARTICLES OF ASSOCIATION) –
ATTENDANCE SHEET – OFFICERS – MINUTES
Decisions  shall  be  taken  by  a  two-thirds  majority  of  the  votes  
submitted by shareholders present, represented or voting remotely,  
unless a statutory exception applies.  
An attendance sheet showing the details and signatures required by  
law is drawn up for each General Meeting.  
The General Meeting shall be chaired by the Chairman of the Board  
of Directors or, in the Chairman’s absence, by a Vice-Chairman or by  
a  Director  specifically  delegated  for  this  purpose  by  the  Board.  
Failing this, the Meeting shall elect its own Chairman.  
ARTICLE 34 (ARTICLES OF ASSOCIATION) – SPECIAL
GENERAL MEETINGS
When  there  are  several  categories  of  shares,  no  changes  may  be  
made to the rights of a given category of shares unless approved by  
an Extraordinary General Meeting open to all shareholders and also  
by  a  Special  General  Meeting  of  the  holders  of  the  category  of  
shares in question.  
The duties of vote-teller shall be performed by the two shareholders,  
present and accepting such duties, who hold the largest number of  
shares, either on their own behalf or as proxy holders.  
The  officers  of  the  Meeting  thus  appointed  shall  designate  a  
secretary, who is not required to be a shareholder.  
Special General Meetings are only able to validly conduct business,  
when convened for the first time, if the shareholders attending the  
Meeting or represented by proxy or having voted remotely represent  
at least one third of the total voting rights, and one fifth of the total  
voting rights when convened for the second time.  
The minutes are drawn up and copies or extracts of these minutes  
are delivered and certified in accordance with the law.  
ARTICLE 32 (ARTICLES OF ASSOCIATION) – ORDINARY
GENERAL MEETING
In  all  other  respects,  Special  General  Meetings  are  convened  and  
conduct  business  in  the  same  way  as  Extraordinary  
General Meetings.  
An Ordinary General Meeting is a meeting called to take decisions  
which do not amend the Articles of Association.  
This  type  of  General  Meeting  shall  be  held  at  least  once  a  year,  
within the time period required by law and regulations, to approve  
the financial statements for the previous year.  
ARTICLE 35 (ARTICLES OF ASSOCIATION) – ISSUE
OF BONDS
In the event of the issuance of bonds, the holders of these bonds  
are  considered  as  a  group  represented  by  one  or  more  
representatives,  in  accordance  with  legal  requirements,  for  the  
defence of their shared interests.  
It is only able to validly conduct business, when convened for the  
first time, if the shareholders attending the Meeting, represented by  
proxy or having voted remotely represent at least one fifth of the  
total voting rights. No quorum is required when Ordinary General  
Meetings are convened for the second time.  
Decisions  shall  be  taken  by  a  majority  of  the  votes  submitted  by  
shareholders present, represented or voting remotely.  
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8
ADDITIONAL INFORMATION  
Provisional reporting timetable  
2.
Person responsible for the Universal Registration  
Document and information on the auditing  
of the Company’s financial statements  
2.1. Person responsible for the Universal Registration Document  
Name and position of the person responsible for the Universal Registration Document  
Vincent Paris, Chief Executive Officer  
2.2. Information relating to the Statutory Auditors  
2.2.1. PRINCIPAL STATUTORY AUDITORS AND SUBSTITUTE AUDITORS
a. Principal Statutory Auditors  
Auditeurs et Conseils Associés – 31 rue Henri-Rochefort, 75017 Paris (France).  
p
Represented by Olivier Juramie.  
Term of office expires at the General Meeting convened to approve the 2021 financial statements.  
First appointed: June 1986.  
Mazars – 61 rue Henri-Regnault, Tour Exaltis, 92400 Courbevoie (France).  
p
Represented by Bruno Pouget.  
Term of office expires at the General Meeting convened to approve the 2023 financial statements.  
First appointed: June 2000.  
b. Substitute Auditors  
Pimpaneau Associés – 31 rue Henri-Rochefort – 75017 Paris (France).  
p
Term of office expires at the General Meeting convened to approve the 2021 financial statements.  
3.
Provisional reporting timetable  
Publication date  
Event  
Meeting date  
Friday, 26 February 2021 before market open  
Wednesday, 28 April 2021 before market open  
Wednesday, 26 May 2021  
Thursday, 29 July 2021 before market open  
Friday, 29 October 2021 before market open  
2020 annual revenue and earnings  
Q1 2021 revenue  
Annual General Meeting of Shareholders  
2021 half-year revenue and earnings  
Q3 2021 revenue  
26 February 2021  
-
26 May 2021  
29 July 2021  
-
The full-year and half-year results are published in press releases and are presented at meetings, which are also made available as bilingual  
webcasts in French and English.  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
285
8
ADDITIONAL INFORMATION  
Regulatory disclosures in 2020  
4.
Regulatory disclosures in 2020  
4.1. Press releases for ongoing disclosure obligation  
4.2. Universal Registration Document (formerly Registration  
Document) including the Annual Financial Report and  
updates  
27/11/2020 Sopra Steria Group: 2021 financial calendar  
p
25/11/2020 Cyberattack: updated information  
17/11/2020 Proposed acquisition of Fidor Solutions, the software  
p
14/04/2020 2019 Universal Registration Document  
p
p
subsidiary  and  digital  banking  specialist  of  
next-generation bank Fidor Bank  
4.3. Interim financial report  
28/10/2020 Q3 2020 revenue  
26/10/2020 Cyberattack information update  
p
03/08/2020 2020 Half-year financial report  
p
p
21/10/2020 Information about a cyberattack  
16/09/2020 Sopra Steria finalised the acquisition of a controlling  
p
4.4. Quarterly financial reporting  
p
interest  representing  94.03%  of  Sodifrance’s  share  
capital  
03/08/2020 Sopra Steria  Group:  Publication  of  the  2020  
28/10/2020 Q3 2020 revenue  
24/04/2020 Q1 2020 revenue  
p
p
p
Half-Year Financial Report  
29/07/2020 2020 Half-year results  
4.5. Monthly disclosures of total voting rights and shares  
p
09/07/2020 Sopra  Steria  signs  acquisition  agreement  with  
p
Sodifrance to create a French leader in digital services  
for insurers and social security providers  
12 monthly disclosure forms.  
27/04/2020 Filing of the total number of voting rights and shares  
p
p
09/06/2020 Appointment  of  John  Neilson  as  Chief  Executive  
Officer of Sopra Steria UK and Asia  
20/05/2020 Sopra Financing Platform contributes to Fuel Hyundai  
making  up  the  share  capital  at  22  April  2020,  the  
date of publication of the meeting notice in the BALO  
of the General Meeting of 9 June 2020  
p
p
Capital’s expansion in the US market  
14/05/2020 Combined  General  Meeting  of  9 June 2020    
p
Arrangements  for  making  preparatory  documents  
available  
11/05/2020 The General Meeting of 9 June 2020 will be held in  
p
closed session on an exceptional basis  
24/04/2020 Q1 2020 revenue  
p
15/04/2020 Sopra  Banking  Software  releases  Cassiopae  V4.7  as  
p
scheduled  
14/04/2020 14/04/2020  Press  release  containing  regulated  
p
information - Press release announcing publication of  
the  2019  Universal  registration  document/Annual  
Financial Report  
09/04/2020 09/04/2020 Sopra Steria suspends its 2020 guidance  
p
and  will  submit  a  resolution  at  the  next  General  
Meeting to forgo distribution of a dividend in respect  
of financial year 2019  
02/03/2020 opra  Steria  acquires  experience  design  consultancy  
p
cxpartners in the United Kingdom  
21/02/2020 2019 Full-year results  
p
21/02/2020 Sopra  Steria  announces  plans  to  acquire  Sodifrance  
p
 Creation  of  a  French  leader  in  digital  services  
dedicated to the insurance and social security sector  
286  
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8
ADDITIONAL INFORMATION  
Documents available to the public  
4.6. Descriptions of share buyback programmes  
and reports on the liquidity agreement  
4.7. Reports on the manner in which the work  
of the Board of Directors is prepared and organised,  
and on internal control procedures  
Liquidity agreement  
14/04/2020 Included  in  the  2019  Universal  Registration  
Document  
p
01/07/2020 Half-yearly  report  on  the  liquidity  agreement  with  
p
ODDO BHF SCA.  
09/01/2020 Half-yearly  report  on  the  liquidity  agreement  with  
p
4.8. Fees paid to the Statutory Auditors  
ODDO BHF SCA.  
14/04/2020 Included  in  the  2019  Universal  Registration  
p
Treasury share transactions  
Document  
21/12/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
the period from 14 to 18 December 2020.  
14/12/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
4.9. Press releases on the availability of information related  
to shareholders’ meetings  
p
the period from 7 to 11 December 2020.  
07/12/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
the period from 30 November to 4 December 2020  
01/12/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
14/05/2020 Press  release  announcing  the  availability  of  
p
p
preparatory  documents  for  the  Combined  General  
Meeting of 9 June 2020.  
p
the period from 23 to 27 November 2020.  
23/11/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
4.10.Press releases on the availability of prospectuses  
p
the period from 16 to 19 November 2020.  
19/10/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
the period from 12 to 16 October 2020.  
21/09/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
03/08/2020 Press release announcing the publication of the 2020  
Half-Year Financial Report.  
14/04/2020 Press release announcing the publication of the 2019  
p
p
p
p
Universal Registration Document.  
the period from 14 to 18 September 2020.  
31/08/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 17 to 21 August 2020.  
20/07/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 13 to 17 July 2020.  
22/06/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 15 to 19 June 2020.  
18/05/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 11 to 15 May 2020.  
20/04/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 13 to 17 April 2020.  
06/04/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 30 Marchto 3 April 2020.  
23/03/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 16 to 20 March 2020.  
09/03/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 2 to 6 March 2020.  
24/02/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 17 to 21 February 2020.  
20/02/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 13 to 17 January 2020.  
13/01/2020 Weekly  disclosure  of  transactions  in  own  shares  for  
p
the period from 6 to 10 January 2020.  
5.
Documents available to the public  
The  legal  documents  relating  to  the  Company   in  particular  its  Articles  of  Association,  financial  statements  and  reports  presented  to  
shareholders at its General Meetings by the Board of Directors and the Statutory Auditors  may be requested from the Communications  
Department  at  6  Avenue  Kleber,  75116 Paris,  France.  All  published  financial  information  is  available  on  the  Group’s  website:  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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8
ADDITIONAL INFORMATION  
288  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
9. General Meeting  
Agenda
290
290  
290  
290  
1.  
Requiring the approval of the Ordinary General Meeting  
Requiring the approval of the Extraordinary General Meeting  
Requiring the approval of the Ordinary General Meeting  
Summary of resolutions
291
291  
2.  
2.1.
Ordinary General Meeting  
Extraordinary General Meeting  
Ordinary General Meeting  
2.2.
2.3.
294  
295  
Proposed resolutions
295
295  
298  
3.  
4.  
Requiring the approval of the Ordinary General Meeting  
Requiring the approval of the Extraordinary General Meeting  
Special report of the Board of Directors
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289
9
GENERAL MEETING  
Agenda  
1.
Agenda  
The shareholders of Sopra Steria Group are invited to attend the Combined General Meeting to be held on 26 May 2021,  
at 2:30pm, at Pavillon Dauphine, Place du Maréchal-de-Lattre-de-Tassigny, 75116 Paris, to consider the following agenda.  
Important notice:
Given the current context relating to the Covid-19 pandemic, the ways of participating in the General Meeting
may change based on public-health and/or legal imperatives. Shareholders should regularly consult the
dedicated section on the Company’s website relating to the General Meeting:
Requiring the approval  
of the Ordinary General Meeting  
1. Approval  of  the  parent  company  financial  statements  for  the  
financial  year  ended  31 December  2020;  approval  of  
non-deductibleexpenses.  
12. Authorisation granted to the Board of Directors, for a period of  
18 months, to allow the Company to buy back its own shares  
pursuant  to  Article L. 22-10-62  of  the  French  Commercial  
Code.  
2. Approval  of  the  consolidated  financial  statements  for  the  
financial year ended 31 December 2020.  
3. Appropriation  of  earnings  for  the  year  ended  31 December  
Requiring the approval  
2020.  
of the Extraordinary General Meeting  
4. Approval of disclosures as presented in the Report on corporate  
governance  pursuant  to  Article L. 22-10-34 I  of  the  French  
Commercial Code.  
13. Authorisation granted to the Board of Directors, for a period of  
38  months,  to  allot  free  shares  to  employees  and  company  
officers of the Company and its Group, subject to a cap of 1%  
of the share capital, entailing the waiver by the shareholders of  
their pre-emptive subscription right;  
5. Approval  of  the  fixed,  variable  and  exceptional  items  
of compensation  making  up  the  total  compensation  and  
benefits of any kind paid during the year ended 31 December  
2020  or  allotted  in  respect  of  that  period  to  Pierre  Pasquier,  
Chairman  of  the  Board  of  Directors,  in  accordance  with  
Article L. 22-10-34 II of the French Commercial Code.  
14. Delegation of authority to the Board of Directors, for a period of  
26 months, to decide to increase the Company’s share capital,  
without  pre-emptive  subscription  rights  for  existing  
shareholders, via issues to persons employed by the Company or  
by a company of the Group, subject to enrolment in a company  
savings plan, up to a maximum of 2% of the share capital.  
6. Approval of the fixed, variable and exceptional components of  
the total compensation and benefits of any kind paid during the  
financial year ended 31 December 2020 or allotted in respect  
of  that  period  to  Vincent  Paris,  Chief  Executive  Officer,  in  
accordance  with  Article L. 22-10-34 II  of  the  French  
Commercial Code.  
Requiring the approval  
of the Ordinary General Meeting  
7. Approval  of  the  compensation  policy  for  the  Chairman  of  the  
Board  of  Directors,  as  presented  in  the  Report  on  corporate  
governance  pursuant  to  Articles L. 22-10-8  and R. 225-29-1  
of the French Commercial Code.  
15. Powers granted to carry out all legal formalities.  
8. Approval  of  the  compensation  policy  for  the  Chief  Executive  
Officer,  as  presented  in  the  Report  on  corporate  governance  
pursuant  to  Articles L. 22-10-8  and R. 225-29-1  of  the  
French Commercial Code.  
We  hereby  inform  you  that  the  resolutions  submitted  for  the  
approval  of  the  Extraordinary  General  Meeting  require  a  quorum  
representing at least one quarter of the total voting shares and a  
majority of two thirds of the votes submitted by the shareholders  
present  or  represented  by  proxy  holders.  Those  submitted  for  the  
approval of the Ordinary General Meeting require a quorum of at  
least one fifth of the total voting shares and a majority of the votes  
submitted  by  the  shareholders  present  or  represented  by  proxy  
holders.  Pursuant  to  Article L. 225-96  of  the  French  Commercial  
Code, the votes cast shall not include those attached to shares held  
by shareholders who did not take part in the vote, abstained, cast a  
blank vote or spoilt their vote.  
9. Approval  of  the  compensation  policy  for  the  Directors,  as  
presented in the Report on corporate governance pursuant to  
Articles L. 22-10-8  and R. 225-29-1  of  the  French  
Commercial Code.  
10. Decision setting the total amount of compensation awarded to  
Board  members  for  their  service,  as  referred  to  in  
Article L. 225-45  of  the  French  Commercial  Code,  at  
€500,000.  
11. Appointment  of  Astrid  Anciaux  as  Director  representing  
employee shareholders for a term of office of four years;  
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9
GENERAL MEETING  
Summary of resolutions  
2.
Summary of resolutions  
French  Order  no. 2020-1142  of  16  September  2020  created  the  new  chapter X  in  Book II,  Title II  of  the  French  Commercial  Code,  
relating to companies whose shares are admitted to trading on a regulated market or on a multilateral trading facility. For the most part,  
the Order recodifies established law, meaning that existing provisions relating to listed companies are either fully repealed and repeated  
identically  within  the  new  articles  of  chapter X  (Articles L. 22-10-2  to  L. 22-10-73  for  sociétés  anonymes),  or  partially  repealed  and  
supplemented by clarifications added within new articles of chapter X.  
1 June 2021, before the market opens. The dividend will be payable  
as from 3 June 2021.  
2.1. Ordinary General Meeting  
2.1.1. APPROVAL OF THE INDIVIDUAL FINANCIAL
2.1.3. COMPENSATION OF COMPANY OFFICERS
(RESOLUTIONS 4 TO 9)
STATEMENTS AND THE CONSOLIDATED
FINANCIAL STATEMENTS OF SOPRA STERIA
GROUP (RESOLUTIONS 1 AND 2)
a. under Resolution 4and in accordance with the provisions of  
Article L. 22-10-34 I  
(formerly  
referred  
to  
as  
The Board of Directors submits for your approval:  
Article L. 225-100 II) of the French Commercial Code, you are  
kindly asked to approve the disclosures presented in the Report  
on  corporate  governance  prepared  by  the  Board  of  Directors  
the  individual  financial  statements  (Resolution  1)  and  the  
p
consolidated  financial  statements  of  Sopra  Steria  Group  
(Resolution  2)  for  the  year  ended  31 December  2020,  as  
presented  in  Chapters  5  and  6  of  the  Company’s  Universal  
Registration Document for the year ended 31 December 2020;  
pursuant  
to  
Article L. 22-10-9  
(previously,  
Article L. 225-37-3 I)  of  the  French  Commercial  Code.  These  
disclosures  are  presented  in  Chapter  3  of  the  Company’s  
Universal  Registration  Document  for  the  year  ended  
31 December 2020.  
the list of non-tax-deductible expenses totalling €661,408.55 and  
p
the  corresponding  tax  charge  (resolution  1).  These  expenses  
consist of rental or lease payments and depreciation in respect of  
the Company’s vehicle fleet.  
b. under  Resolutions  5  and  6  and  in  accordance  with  the  
provisions of Article L. 22-10-34 II of the French Commercial  
Code,  you  are  kindly  asked  to  approve  the  fixed,  variable  and  
exceptional  items  of  compensation  making  up  the  total  
compensation  and  benefits  of  any  kind  paid  during  the  year  
ended 31 December 2020 or allotted in respect of that year to  
the company officers, namely Pierre Pasquier, in his capacity of  
Chairman  of  the  Board  of  Directors,  and  Vincent  Paris,  in  his  
capacity as Chief Executive Officer.  
The  Statutory  Auditors’  reports  on  the  individual  financial  
statements of Sopra Steria Group are presented in chapter 6 of the  
Universal Registration Document of the Company for the financial  
year ended 31 December 2020. The Statutory Auditors’ reports on  
the  consolidated  financial  statements  of  Sopra  Steria  Group  are  
presented in Chapter 5 of the Universal Registration Document of  
the Company for the financial year ended 31 December 2020.  
These  details  are  disclosed  in  the  Report  on  corporate  
governance prepared by the Board of Directors in accordance  
with Article L. 22-10-34 of the French Commercial Code. They  
are  in  line  with  the  compensation  policy  approved  by  the  
Combined  General  Meeting  of  the  shareholders  on  9 June  
2020.  
2.1.2. PROPOSED APPROPRIATION OF EARNINGS
(RESOLUTION 3)
In light of the Covid-19 pandemic and in a spirit of responsibility, it  
should be noted that the shareholders voted at the General Meeting  
of 9 June 2020 to forgo a dividend payment and to appropriate all  
of the profit available for distribution to “Retained earnings”.  
Pursuant  to  Article L. 22-10-34 II  of  the  French  Commercial  
Code, the payment to Vincent Paris of the variable components  
of his compensation is contingent upon shareholder approval  
at  the  General  Meeting  of  the  items  of  compensation  
attributable to him in respect of the 2020 financial year.  
Sopra Steria Group SA generated net profit of €142,275,698.67 for  
the year ended 31 December 2020, giving consolidated net profit  
attributable to owners of the parent of €106,776,814.  
The Board of Directors proposes that a dividend per share of €2 be  
distributed,  i.e.  a  total  amount  of  €41,095,402.00  be  adjusted  in  
the event of a change in the number of shares with dividend rights.  
The  balance  would  be  appropriated  to  discretionary  reserves.  In  
accordance  with  tax  regulations  in  force,  when  paid  to  individual  
shareholders with tax residence in France, this dividend distribution  
is subject to mandatory lump-sum withholding at the rate of 30%  
(while  remaining  subject  to  income  tax  reporting  requirements    
non  libératoire”),  in  respect  of  income  tax  (12.8%)  and  social  
security contributions (17.2%).  
See  also  Section 3  “Standardised  presentation  of  
compensation  paid  to  company  officers”  in  Chapter 3  of  the  
Company’s Universal Registration Document for the year ended  
31 December 2020.  
c. under  Resolutions  7,  8  and  9  and  in  accordance  with  the  
provisions  of  Article L. 22-10-8  of  the  French  Commercial  
Code,  you  are  kindly  asked  to  approve  the  compensation  
policies applicable respectively to the Chairman of the Board of  
Directors (Resolution 7), the Chief Executive Officer (Resolution  
8)  and  the  members  of  the  Board  of  Directors  (Resolution  9).  
These disclosures are presented in Chapter 3 of the Company’s  
Universal  Registration  Document  for  the  year  ended  
31 December  2020.  These  policies  would  continue  to  be  
applied  in  the  event  of  the  nomination  of  new  company  
officers. The policy defined for the Chief Executive Officer would  
be applicable in the event of the nomination of a Deputy CEO.  
When filing their income tax return, shareholders may opt either to  
maintain the withholding amount as indicated on the return or to  
have this dividend taxed instead at the progressive income tax rate  
(as  an  overall  taxpayer  option  for  all  income  subject  to  lump-sum  
withholding), after deducting the withholding amount already paid  
and after applying relief equal to 40% of the gross amount received  
(Article 158-3-2° of the French Tax Code), and the deduction of a  
portion of the CSG (6.8%). The ex-dividend date would therefore be  
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These compensation details, which were decided on by the Board of  
Directors on the recommendation of the Compensation Committee,  
are set out in Section 2 of Chapter 3 of the Company’s Universal  
Registration Document for the year ended 31 December 2020.  
2.1.5. APPOINTMENT OF A NEW DIRECTOR
REPRESENTING EMPLOYEE SHAREHOLDERS
(RESOLUTION 11)
In accordance with French Law No. 2019-486 of 22 May 2019 on  
business  growth  and  transformation  (the  “Loi  Pacte”)  and  in  
accordance with the conditions set out in Article 14 of the Articles  
of  Association  approved  by  the  General  Meeting  of  9  June  2020,  
you  are  asked  to  elect  a  Director  representing  employee  
shareholders.  
2.1.4. SETTING THE COMPENSATION AWARDED
TO BOARD MEMBERS FOR THEIR SERVICE,
AS REFERRED TO IN ARTICLE L. 225-45
OF THE FRENCH COMMERCIAL CODE
(PREVIOUSLY KNOWN AS DIRECTORS’ FEES)
(RESOLUTION 10)
In  accordance  with  the  Company’s  Articles  of  Association,  which  
provide  for  a  candidate  to  be  designated  by  both  the  supervisory  
boards  of  the  FCPE  company  mutual  funds  and  by  the  elected  or  
appointed representatives of employees holding Sopra Steria Group  
shares in registered form under a PEE company savings plan or as a  
result of a free share award authorised by a resolution passed at an  
Extraordinary  General  Meeting  after  6  August  2015,  a  candidate  
selection  process  was  held  between  7  December  2020  and  8  
February 2021. At the end of this process, the same candidate was  
designated  by  both  advisory  bodies.  As  such,  a  resolution  will  be  
submitted  at  the  General  Meeting  to  elect  Astrid  Anciaux  as  the  
Director  representing  the  employee  shareholders  for  a  four-year  
term  of  office  that  will  end  at  the  close  of  the  General  Meeting  
convened  in  2025  to  approve  the  financial  statements  for  the  
financial year ending 31December 2024.  
You  are  asked  to  set  the  amount  of  total  compensation  to  be  
awarded  to  Board  members  for  their  service,  as  referred  to  in  
Article L. 225-45  of  the  French  Commercial  Code  (previously  
known as directors’ fees) at €500,000 for the current financialyear.  
This  amount  shall  be  divided  up  in  full  in  accordance  with  the  
compensation policy (pursuant to Article L. 22-10-14 of the French  
Commercial  Code)  set  out  in  Section 2  of  Chapter 3  of  the  
Company’s  Universal  Registration  Document  for  the  year  ended  
31 December 2020.  
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ASTRID ANCIAUX  
Candidate for the position of Director representing employee shareholders  
Number of shares
in the Company owned personally: 1,494
Business address:  
Date of first appointment:27 June 2014  
Sopra Steria Benelux – Le Triomphe –  
Avenue Arnaud Fraiteur 15/23   
1050 Brussels – Belgium  
Date term of office ends:General Meeting to approve  
the financial statements for the financial year ended  
31/12/2024  
Nationality:Belgian  
Age:56  
Appointments
Main positions and appointments currently held
Outside
Outside France Listed company
Chief Finance Officer of Sopra Steria Benelux  
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Company officer of direct and indirect subsidiaries of Sopra Steria Group  
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Chairwoman of the Supervisory Board of the Groupe Steriactions company  
mutual fund (FCPE)  
Member of the Supervisory Board of the Sopra Steria Actions company mutual  
fund (FCPE)  
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Other directorships and offices held during the last five years
Director of Sopra Steria Group  
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Director of Soderi  
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Biography  
As Chief Financial Officer of Sopra Steria Benelux, Astrid Anciaux works across Belgium, the Netherlands and Luxembourg. She has been with the  
Group for over 30 years. She became a member of the Board of Directors when Sopra and Groupe Steria completed their tie-up in 2014 (term of  
office ended at the close of the 2020 General Meeting).  
Astrid Anciaux is a graduate of the EPHEC business school in Brussels. In 2017, she also gained the Director qualification issued by Sciences-Po and  
the IFA.  
After gaining experience with an accounting firm, she joined the finance department at Steriabel, Steria’s first Belgian subsidiary, in 1987. Over the  
years, she has played a part in the financial aspects of the business’s growth as well as its functional and cultural integration into the Group.  
Since 2014, as well as serving as Chief Financial Officer, Astrid Anciaux has also been responsible for central support functions serving Belgium,  
Luxembourg and the Netherlands. She serves as a company officer for a number of subsidiaries of Sopra Steria Group.  
Astrid Anciaux has extensive experience in employee share ownership.  
A former director of Soderi, Chairwoman of the Supervisory Board of the Groupe Steriactions company mutual fund (FCPE) and member of the  
Supervisory Board of the Sopra Steria Actions FCPE, she also deals on a day-to-day basis with the question of how to motivate and attract talent –  
a key priority for the Group.  
She will also bring to the Group’s Board of Directors her vast experience in the field, gained both as a senior executive and as a management  
representative within employee representative bodies (in Belgium and Luxembourg).  
Shares may be bought back for the following purposes:  
2.1.6. BUYBACK BY SOPRA STERIA GROUP
OF ITS OWN SHARES (RESOLUTION 12)
to  obtain  market-making  services  from  an  investment  services  
provider  acting  independently  under  the  terms  of a  liquidity  
agreement entered into in compliance with the AMF’s accepted  
market practice;  
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You are asked to renew the authorisation granted to the Board of  
Directors  at  the  General  Meeting  of  9 June  2020  permitting  the  
Company to buy back its own shares, in accordance with applicable  
laws  and  regulations  (Articles L. 22-10-62  et  seq.  of the  French  
Commercial Code).  
to  award,  sell  or  transfer  shares  in  the  Company  to  employees  
and/or  company  officers  of the  Group,  in  order  to  cover  share  
purchase  plans  and/or  free  share  plans  (or  equivalent  plans)  as  
well  as  any  allotments  of shares  under  a  company  or  Group  
savings  plan  (or  equivalent  plan)  in  connection  with  a  
profit-sharing  mechanism,  and/or  all  other  forms  of share  
allotment to the Group’s employees and/or company officers;  
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Under  this  authorisation,  the  number  of  shares  bought  back  shall  
not exceed 10% of the share capital; as an indication, this would  
equate  to  2,054,770 shares  on  the  basis  of  the  current  share  
capital.  The  maximum  price  per  share  that  can  be  paid  for  the  
shares bought back is set at €250; this price may be adjusted as a  
result  of  an  increase  or  decrease  in  the  number  of  shares  
representing the share capital, in particular due to capitalisation of  
reserves, free share awards or reverse stock splits.  
to retain the shares bought back in order to exchange them or  
tender them as consideration at a later date for a merger, spin-off  
or  contribution  of assets  and,  more  generally,  for  external  
growth transactions. Shares bought back for such purposes are  
not to exceed, in any event, 5% of the number of shares making  
up the Company’s share capital;  
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to  deliver  the  shares  bought  back,  upon  the  exercise  of rights  
should  it  be  decided  to  add  one,  would  not  exceed  10%  of  the  
total.  
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attaching  to  securities  giving  access  to  the  Company’s  share  
capital  through  redemption,  conversion,  exchange,  tender  
of warrants  or  any  other  means  as  well  as  to  execute  any  
transaction covering the Company’s obligations relating to those  
securities;  
For  reference,  the  performance  share  plans  put  in  place  by  the  
Group  in  2016,  2017  and  2018  had  the  following  features  in  
common:  
for all recipients, the granting of shares was subject to continued  
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to  retire  shares  bought  back  by  reducing  the  share  capital,  
pursuant to Resolution 11 approved at the General Meeting of 9  
June 2020;  
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employment at the end of a three-year vesting period. However,  
depending on the circumstances, this condition could be waived  
in  whole  or  in  part,  in  derogation  of  the  foregoing  and  on  an  
entirely  exceptional  basis  (in  practice  fewer  than  2%  of  
departures);  
to  implement  any  market  practice  that  would  come  to  be  
accepted by the AMF, and in general, to perform any operation  
that complies with regulations in force.  
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achievement  of  the  performance  condition  was  measured  by  
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The  Board  of  Directors  would  have  full  powers  to  implement  this  
delegation of authority and decide on the arrangements.  
calculating  the  average  annual  target  achievement  rates,  with  
each  of  the  criteria  given  an  equal  weighting;  the  three  criteria  
related to organic consolidated revenue growth, operating profit  
on business activity (expressed as a percentage of revenue) and  
free cash flow;  
This authorisation would supersede the previous authorisation given  
at the General Meeting of 9 June 2020 and would be granted for a  
period  of  18 months  with  effect  from  this  General  Meeting.  It  
would not be usable during a public tender offer for the Company’s  
shares.  
strict  targets  were  set  over  the  entire  plan  period  (the  year  of  
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allotment  and  the  two  following  years).  These  targets  were  at  
least  equal  to  any  guidance  targets  disclosed  to  the  financial  
market or, for targets expressed as a range, at least the minimum  
level of the guidance range disclosed; the target achievement rate  
for  each  of  the  three  plans  was  66.1%,  63.5%  and  63.5%,  
respectively.  
For  information,  the  use  made  of  the  previous  authorisation  is  
discussed  in  Section 12,  Chapter 7  of  the  Company’s  Universal  
Registration Document for the year ended 31 December 2020.  
2.2. Extraordinary General Meeting  
2.2.1. ALLOTMENT OF FREE SHARES TO EMPLOYEES
(RESOLUTION 13)
The purpose of Resolution 13 is to enable the Board of Directors,  
where  appropriate,  to  share  the  benefits  of  Sopra  Steria’s  growth  
with  employees  and  company  officers  of  the  Company  and  the  
Group  by  awarding  free  shares.  The  Company  set  up  three  
successive  three-year  performance  share  plans  for  the  Group’s  
management  and  its  Chief  Executive  Officer,  for  the  periods  
2016-2018, 2017-2019 and 2018-2020.  
The Chief Executive Officer, Vincent Paris, was subject to the same  
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rules as all the other recipients under these plans. However, the  
Board of Directors decided that he must retain at least 50% of  
the  shares  allocated  to  him  under  these  plans  throughout  his  
entire term of office;  
Vincent Paris agreed not to hedge any performance shares until  
the applicable holding period had expired.  
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Should  the  Board  of  Directors  choose  to  diverge  from  its  prior  
practice, as set out above, at the time of any decision to implement  
such a plan, it shall justify the reasons for doing so in the Universal  
Registration  Document.  In  a  context  still  characterised  by  major  
uncertainties,  the  achievement  of  the  ambitious  medium-targets  
targets  set  by  the  Group  requires  a  very  precise  determination  of  
targets and the relative weighting of each of the criteria. It should  
be noted that, in accordance with the law, decisions regarding this  
matter are taken entirely independently by the Board of Directors,  
acting on a recommendation by the Compensation Committee after  
consulting  with  the  Chief  Executive  Officer.  The  Chief  Executive  
Officer  does  not  take  part  in  the  Board  of  Directors’  discussions  
regarding this matter.  
Since 12 June 2018, the Board of Directors has been authorised to  
issue up to 3% of the share capital (0.15% maximum for awards to  
the  Chief  Executive  Officer).  No  use  has  been  made  of  this  
authorisation to date. It will end in August 2021. As indicated in the  
previous Universal Registration Document, after a pause in 2019, in  
2020 the Compensation Committee evaluated whether it would be  
possible and appropriate to set up a new long-term incentive plan  
based on awarding rights to performance shares according to the  
model  of  the  first  three  aforementioned  plans.  Due  to  the  
uncertainties  generated  by  the  public  health  crisis  starting  in  
February,  followed  by  the  cyberattack  that  targeted  the  Group  in  
October2020, it was not possible to set up a new plan. However,  
the need identified by the Compensation Committee and the wish  
to align the interests of management with those of shareholders are  
still  relevant  issues.  Discussions  are  ongoing,  with  the  aim  of  the  
Board of Directors coming to a decision if possible in financial year  
2021  or  at  the  beginning  of  financial  year  2022.  The  
implementation  of  such  a  plan,  like  the  resumption  of  employee  
share  ownership  programmes,  remains  conditional  on  financial  
performance requirements.  
You are asked to authorise the Board of Directors to allot free shares  
to employees of Sopra Steria and the Group, it being specified that  
the shares allotted will be either existing shares (treasury shares) or  
shares to be issued (new shares).  
This authorisation would be subject to an overall limit of 1% of the  
share capital; as a guide, this would equate to 205,477 shares on  
the basis of the current share capital.  
In accordance with the recommendations of the AFEP-MEDEF Code,  
free  shares  awarded  to  the  Company’s  Chief  Executive  Officer  are  
limited to 5% of the total maximum number of free shares that may  
be awarded, i.e. 0.05% of the share capital.  
The  Board  of  Directors  therefore  requests  that  the  authorisation  
granted at the General Meeting of 12 June 2018 be renewed under  
the same terms, but for a volume of shares changed to 1% of the  
share capital. Unless otherwise required by the situation at the time  
of the decision to award shares, the new plan would have the same  
features as the previous plans, with the potential addition of a new  
performance  criterion  related  to  the  Company’s  social  and  
environmental  responsibility.  The  weighting  of  such  a  criterion,  
Shares  may  be  awarded  to  employees  without  performance  
conditions within the limit of 10% of the total maximum number of  
free  shares  that  may  be  awarded,  i.e.  around  0.1%  of  the  share  
capital. In accordance with the compensation policy, the Chairman  
of the Board of Directors is not eligible for free share awards.  
This authorisation would be granted for a period of thirty-eight (38)  
months.  
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shareholders’  pre-emptive  rights.  This  authorisation  would  be  
subject to an overall limit of 2% of the share capital; as a guide, this  
would equate to 410,954 shares on the basis of the current share  
capital.  
2.2.2. CAPITAL INCREASE RESERVED FOR EMPLOYEES
ENROLLED IN A COMPANY SAVINGS PLAN
(RESOLUTION 14)
The purpose of Resolution 14 is to enable the Board of Directors,  
where  appropriate,  to  share  the  benefits  of  Sopra  Steria’s  growth  
with  employees  of  the  Company  and  the  Group  by  means  of  a  
capital  increase  reserved  for  employees  belonging  to  one  of  the  
Group’s company savings plans (pursuant to Article L. 225-180 of  
the French Commercial Code). You are asked to grant the Board of  
Directors a delegation of authority allowing it to carry out one or  
more  capital  increases  with  the  disapplication  of  shareholders’  
pre-emptive rights so that it can issue shares or negotiable securities  
giving access to the Company’s shares, leading to disapplication of  
This  delegation  of  authority  would  be  granted  for  a  period  of  
twenty-six (26) months.  
2.3. Ordinary General Meeting  
POWERS (RESOLUTION 15)
This  customary  resolution  grants  general  powers  to  complete  the  
formalities.  
3.
Proposed resolutions  
older approval at the Combined General Meeting of 26 May 2021.  
Requiring the approval of the Ordinary General Meeting  
Resolution 1  
Resolution 2  
(Approval  of  the  individual  financial  statements  for  the  
financial  year  ended  31 December  2020;  approval  of  
non-deductible expenses)  
(Approval  of  the  consolidated  financial  statements  for  the  
financial year ended 31 December 2020)  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and having reviewed the reports of the Board of Directors, including  
the  report  on  Group  management  and  the  Statutory  Auditors’  
reports, approve the consolidated financial statements for the year  
ended  31 December  2020,  which  show  a  consolidated  net  profit  
(attributable  to  the  Group)  of  €106,776,814,  as  well  as  the  
transactions  reflected  in  these  consolidated  financial  statements  
and/or summarised in the reports.  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and having reviewed the reports of the Board of Directors, including  
the  report  on  Group  management  and  the  Statutory  Auditors’  
reports,  approve  the  parent  company  financial  statements  for  the  
year  ended  31 December  2020  as  they  were  presented,  which  
show a profit of €142,275,698.67.  
The  shareholders  at  the  General  Meeting  also  approve  the  
transactions  reflected  in  these  financial  statements  and/or  
summarised in the aforementioned reports. The shareholders at the  
General  Meeting  also  approve  the  amount  of  expenses  not  
deductible  for  income  tax  purposes,  as  defined  in  article 39-4  of  
the  French  General  Tax  Code,  which  amounted  to  €661,408.55,  
and the corresponding tax expense of €220,469.  
Resolution 3  
(Appropriation of earnings for the year ended 31 December 2020 and setting of the dividend)  
The shareholders at the General Meeting, having fulfilled the quorum and majority requirements for Ordinary General Meetings, and having  
reviewed the reports of the Board of Directors, including the report on Group management and the Statutory Auditors’ reports, note that the  
income available for distribution, determined as follows, stands at:  
Profit for the year  
€142,275,698.67  
Transfer to the legal reserve  
€0  
Prior unappropriated retained earnings  
€147,138,833.53  
DISTRIBUTABLE PROFIT
€289,414,532.20
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GENERAL MEETING  
Proposed resolutions  
and  resolve,  after  acknowledging  the  consolidated  net  profit  attributable  to  owners  of  the  parent  amounting  to  €106,776,814,  to  
appropriate this profit as follows:  
Dividend  
€41,095,402.00  
Discretionary reserves  
Retained earnings  
€248,319,130.20  
€0  
TOTAL
€289,414,532.20
Since the legal reserve already stands at 10% of the share capital, no allocation to it is proposed. The following amounts were distributed as  
dividends in respect of the previous three financial years:  
2017  
2018  
2019  
Dividend per share  
Number of shares  
Dividend*  
€2.40  
20,516,807  
€49,240,336.80  
€1.85  
20,514,876  
€37,952,520.60  
€0  
0
€0  
*
The dividend payment entitles individual shareholders resident in France for tax purposes to a 40% deduction on the gross amount of the dividend for the calculation of income tax  
(article 158–3-2° of the French General Tax Code).  
Resolution 4  
Resolution 6  
(Approval  of  disclosures  as  presented  in  the  Report  on  
corporate  governance  pursuant  to  Article L. 22-10-34 I  of  
the French Commercial Code)  
(Approval  of  the  fixed,  variable  and  exceptional  
components of the total compensation and benefits of any  
kind  paid  during  the  financial  year  ended  31 December  
2020 or allotted in respect of that period to Vincent Paris,  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
Chief  
Executive  
Officer,  
in  
accordance  
with  
Article L. 22-10-34 II of the French Commercial Code)  
and  
having  
been  
consulted  
in  
accordance  
with  
Article L. 22-10-34 I  of  the  French  Commercial  Code,  and  after  
having reviewed the Report on corporate governance prepared by  
the  Board  of  Directors,  approve  the  disclosures  stated  in  
Article L. 22-10-9 of  the  French  Commercial  Code  and  as  
presented in the report.  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and  
having  
been  
consulted  
in  
accordance  
with  
Article L. 22-10-34 II  of  the  French  Commercial  Code,  and  after  
having reviewed the Report on corporate governance prepared by  
the Board of Directors, approve the fixed, variable and exceptional  
items  of compensation  making  up  the  total  compensation  and  
benefits  of any  kind  paid  during  the  year  ended  31 December  
2020  or  allotted  in  respect  of  that  period  to  Vincent  Paris  in  his  
capacity as Chief Executive Officer and as presented in the report.  
Resolution 5  
(Approval  of  the  fixed,  variable  and  exceptional  items  
of compensation  making  up  the  total  compensation  and  
benefits  of any  kind  paid  during  the  year  ended  
31 December 2020 or allotted in respect of that period to  
Pierre  Pasquier,  Chairman  of  the  Board  of  Directors,  in  
accordance  with  Article L. 22-10-34 II  of  the  French  
Commercial Code)  
Resolution 7  
(Approval of the compensation policy for the Chairman of  
the  Board  of  Directors,  as  presented  in  the  Report  on  
corporate  governance  pursuant  to  Article L. 22-10-8  and  
Article R. 225-29-1 of the French Commercial Code)  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and  
having  
been  
consulted  
in  
accordance  
with  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and having been consulted in accordance with Articles L. 22-10-8  
and R. 225-29-1 of the French Commercial Code, and after having  
reviewed  the  Report  on  corporate  governance  prepared  by  the  
Board  of  Directors,  approve  the  compensation  policy  for  the  
Chairman  of  the  Board  of  Directors,  for  his  term  of  office  and  as  
presented in the Report on corporate governance.  
Article L. 22-10-34 II  of  the  French  Commercial  Code,  and  after  
having reviewed the Report on corporate governance prepared by  
the Board of Directors, approve the fixed, variable and exceptional  
items  of  compensation  making  up  the  total  compensation  and  
benefits of any kind paid during the year ended 31 December 2020  
or allotted in respect of that period to Pierre Pasquier, Chairman of  
the Board of Directors, and as presented in the report.  
296  
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9
GENERAL MEETING  
Proposed resolutions  
Resolution 8  
Resolution 12  
(Approval  of  the  compensation  policy  for  the  Chief  
Executive Officer, as presented in the Report on corporate  
governance  pursuant  to  Articles L. 22-10-8  and  
R. 225-29-1 of the French Commercial Code)  
(Authorisation  granted  to  the  Board  of  Directors,  for  a  
period of 18 months, to allow the Company to buy backits  
own  shares  pursuant  to  Article L. 22-10-62  of  the  French  
Commercial Code)  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and having been consulted in accordance with Articles L. 22-10-8  
and R. 225-29-1 of the French Commercial Code, and after having  
reviewed  the  Report  on  corporate  governance  prepared  by  the  
Board of Directors, approve the compensation policy for the Chief  
Executive  Officer,  for  his  term  of  office  and  as  presented  in  the  
Report on corporate governance.  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and  having  reviewed  the  Report  of  the  Board  of  Directors,  in  
accordance  with  the  provisions  of Articles L. 22-10-62  et  seq.  
of the French Commercial Code, EU regulations on market abuse,  
and Title IV, Book II of the General Regulation of the Autorité des  
Marchés Financiers (AMF) as well as its implementing instructions:  
authorise the Board of Directors, with the ability to sub-delegate  
p
this power as provided by law and by the Company’s Articles of  
Association,  to  buy  back  shares  in  the  Company  or  arrange  to  
have  shares  in  the  Company  bought  back,  on  one  or  more  
occasions and as and when it sees fit, up to a maximum of 10%  
of the total number of shares representing the Company’s share  
capital at the time of the buyback;  
Resolution 9  
(Approval of the compensation policy for the Directors, as  
presented in the Report on corporate governance pursuant  
to  Articles L. 22-10-8  and  R. 225-29-1  of  the  French  
Commercial Code)  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
and having been consulted in accordance with Articles L. 22-10-8  
and R. 225-29-1 of the French Commercial Code, and after having  
reviewed  the  Report  on  corporate  governance  prepared  by  the  
Board  of  Directors,  approve  the  compensation  policy  for  Directors  
for  their  term  of  office  as  presented  in  the  Report  on  corporate  
governance.  
resolve  that  shares  may  be  bought  back  for  the  following  
purposes:  
p
to obtain market-making services from an investment services  
provider  acting  independently  under  the  terms  of a  liquidity  
agreement entered into in compliance with the AMF’s accepted  
market practice,  
to award, sell or transfer shares in the Company to employees  
and/or company officers of the Group, in order to cover share  
purchase plans and/or free share plans (or equivalent plans) as  
well  as  any  allotments  of shares  under  a  company  or  Group  
savings  plan  (or  equivalent  plan)  in  connection  with  a  
profit-sharing  mechanism,  and/or  all  other  forms  of share  
allotment to the Group’s employees and/or company officers,  
Resolution 10  
(Decision  setting  the  total  amount  of  compensation  
awarded to Board members for their service, as referred to  
in  Article L. 225-45  of  the  French  Commercial  Code,  at  
€500,000)  
to retain the shares bought back in order to exchange them or  
tender  them  as  consideration  at  a  later  date  for  a  merger,  
spin-off  or  contribution  of assets  and,  more  generally,  for  
external  growth  transactions.  Shares  bought  back  for  such  
purposes are not to exceed, in any event, 5% of the number  
of shares making up the Company’s share capital,  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
resolve,  pursuant  to  Article L. 225-45  of  the  French  Commercial  
Code, to set the aggregate compensation paid to the members of  
the Board of Directors for their service, to be allocated by the Board,  
at €500,000 in respect of the current year.  
to deliver the shares bought back, upon the exercise of rights  
attaching  to  securities  giving  access  to  the  Company’s  share  
capital  through  redemption,  conversion,  exchange,  tender  
of warrants  or  any  other  means,  as  well  as  to  execute  any  
transaction  covering  the  Company’s  obligations  relating  to  
those securities,  
Resolution 11  
(Appointment  of  Astrid  Anciaux  as  Director  representing  
employee shareholders for a term of office of four years)  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum and majority requirements for Ordinary General Meetings,  
resolve,  on  the  recommendation  of  the  Board  of  Directors  and  as  
provided for in Article 14 of the Company’s Articles of Association,  
to appoint Astrid Anciaux as a new Director for a term of office of  
four years ending at the close of the General Meeting to be called to  
approve the financial statements for the year ending 31 December  
2024.  
to  retire  shares  bought  back  by  reducing  the  share  capital,  
pursuant to Resolution 11 approved at the General Meeting of  
9 June 2020,  
to  implement  any  market  practice  that  would  come  to  be  
accepted by the AMF, and in general, to perform any operation  
that complies with regulations in force;  
resolve that the maximum price per share paid for shares bought  
back be set at €250, it being specified that in the event of any  
transactions  in  the  share  capital,  including  in  particular  
capitalisation of reserves, free share awards and/or stock splits or  
reverse stock splits, this price will be adjusted proportionately;  
p
p
resolve  that  the  funds  set  aside  for  share  buy-backs  may  not  
exceed, for guidance purpose and based on the share capital at  
31 December 2020, €513,692,500, corresponding to 2,054,770  
ordinary  shares,  with  this  maximum  amount  potentially  being  
adjusted to take into account the amount of the share capital on  
the day of the General Meeting or subsequent transactions;  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
297
9
GENERAL MEETING  
Proposed resolutions  
decide that shares may be bought back by any means, through  
of  the  vesting  period  has  expired,  and  shall  be  immediately  
transferable;  
p
on-  or  off-market  transactions,  including  block  purchases  or  
through  the  use  of derivatives,  at  any  time,  subject  to  
compliance with the regulations in force; it being stipulated that  
unless authorised in advance by the shareholders at the General  
Meeting,  the  Board  of  Directors  may  not  make  use  of  this  
delegation once a third party has filed a draft tender offer for the  
Company’s shares, and until the end of the offer period;  
formally  notes  that,  with  regard  to  shares  to  be  issued  in  the  
future,  (i) this  authorisation  shall  result,  upon  expiry  of  the  
vesting  period,  in  a  capital  increase  by  way  of  capitalisation  of  
reserves, earnings, issue premiums or other amounts that maybe  
capitalised in favour of the recipients of those shares, as well as  
the automatic waiver by shareholders, in favour of the recipients  
of  the  shares  thus  allotted,  of  their  rights  to  that  portion  of  
reserves, earnings, premiums or other amounts thus capitalised,  
and (ii) this authorisation shall automatically entail the waiver by  
shareholders,  in  favour  of  the  recipients  of  the  aforementioned  
shares,  of  their  pre-emptive  rights.  The  corresponding  capital  
increase  shall  be  deemed  to  have  been  completed  upon  final  
allotment of the shares in question to the recipients;  
p
grant all powers to the Board of Directors, including the ability to  
p
subdelegate  these  powers,  in  order  to  implement  this  
authorisation,  to  determine  the  terms  and  conditions  of share  
buybacks, to make the necessary adjustments, to place any stock  
market orders, to enter into any and all agreements, to carry out  
all formalities and file all declarations with the AMF, and generally  
to take any and all other actions required;  
resolve that this delegation of powers to the Board of Directors is  
to be valid for a period of 18 months with effect from the date  
of this General Meeting;  
accordingly,  confers  all  powers  upon  the  Board  of  Directors,  
within the limits set out above, to put this resolution into effect  
and, in particular to:  
p
p
to  the  unused  portion,  any  previous  authorisation  having  the  
same purpose.  
determine the identity of the recipients of shares to be allotted  
and the number of shares to be allotted to each,  
p
decide on the holding requirements that may apply by law in  
regard to eligible company officers, in accordance with the last  
Requiring the approval of  
paragraph  
of  
Article L. 225-197-1 II  
and  
with  
Article L. 22-10-59 of the French Commercial Code,  
the Extraordinary General Meeting  
set the dates and terms governing the allotment of the shares  
in  question,  including  in  particular  the  period  at  the  end  of  
which  the  shares  will  be  finally  allotted  as  well  as,  where  
applicable, the required lock-in period,  
Resolution 13  
(Authorisation  granted  to  the  Board  of  Directors,  for  a  
period of 38 months, to allot free shares to employees and  
company officers of the Company and its Group, subject to  
a cap of 1% of the share capital)  
and,  in  particular,  determine  the  conditions  related  to  the  
performance of the Company, the Group or any of its entities  
that would apply to the allocation of shares to the Company’s  
executive  company  officers  and,  where  applicable,  those  that  
would apply to the allocation of shares to employees as well as  
the criteria according to which such shares would be granted,  
with  the  stipulation  that  any  shares  granted  without  
performance conditions may not be granted to the Company’s  
Chief Executive Officer and may not exceed 10% of the amount  
of awards authorised by the General Meeting,  
The General Meeting, having reviewed the Management report of  
the  Board  of  Directors  and  the  Statutory  Auditors’  special  report,  
and in accordance with the provisions of Articles L. 225-197-1 et  
seq.and L. 22-10-59 of the French Commercial Code:  
authorises the Board of Directors to carry out one or more bonus  
p
issues, at its discretion, either of existing shares in the Company  
or  of  shares  to  be  issued  in  the  future,  in  favour  of  eligible  
employees (as defined in Articles L. 225-197-1 and L. 22-10-59  
of  the  French  Commercial  Code)  of  the  Company  and  any  
affiliated  companies  under  the  conditions  laid  down  in  
Article L. 225-197-2  of  the  French  Commercial  Code,  or  in  
favour of certain categories of those employees or officers;  
determine whether the shares allotted free of charge are shares  
to be issued or existing shares, and (i) where new shares are  
issued, check that there are sufficient reserves and, upon each  
allotment, transfer to a reserve not available for distribution the  
amounts  needed  to  pay  up  the  new  shares  to  be  issued,  
increase  the  share  capital  by  capitalising  reserves,  earnings,  
premiums or other amounts that may be capitalised, determine  
the type and amount of any reserves, earnings or premiums to  
be  capitalised  in  consideration  of  the  aforementioned  shares,  
certify  the  completion  of  increases  in  the  share  capital,  
determine the vesting date of newly issued shares (which may  
be  retrospective),  amend  the  Articles  of  Association  
accordingly, and (ii) where existing shares are allotted, acquire  
the  necessary  shares  under  the  conditions  laid  down  in  law,  
and take any and all action required to successfully complete  
the transactions,  
resolves  that  this  authorisation  may  not  give  access  to  a  total  
p
number of shares representing more than 1% of the Company’s  
share  capital  (as  assessed  on  the  date  on  which  the  Board  of  
Directors decides to make the award), it being specified that this  
will  be  in  addition  to  any  additional  number  of  shares  to  be  
issued to protect the rights of holders of securities giving access  
to  the  Company’s  share  capital,  in  accordance  with  the  law  or  
any applicable contractual agreement;  
decides  that  the  number  of  shares  that  may  be  granted  to  the  
p
Company’s Chief Executive Officer may not represent more than  
5% of the limit of 1% set in the previous paragraph;  
decides  (a)  that  shares  will  be  definitively  allotted  to  their  
p
allow the option, where applicable, during the vesting period,  
to  adjust  the  number  of  bonus  shares  allotted  in  accordance  
with any transactions affecting the Company’s equity, so as to  
protect the rights of recipients; any shares allotted pursuant to  
such  adjustments  shall,  however,  be  deemed  to  have  been  
allotted on the same date as the initially allotted shares, and  
recipients upon expiry of a vesting period whose duration shall be  
set by the Board of Directors; this duration may not, however, be  
less  than  three  years  with  effect  from  the  date  of  the  Board’s  
decision  to  allot  the  shares  in  question  and  (b)  that  recipients  
must, if the Board of Directors deems it useful or necessary, retain  
the shares in question for the periods freely set by the Board;  
more generally, with the option to subdelegate these powers  
under the conditions laid down by law and by the Company’s  
Articles  of  Association,  to  take  any  steps  and  complete  any  
formalities required for the issuance, listing and management  
decides that, where the beneficiary is disabled and falls into the  
p
second  or  third  categories  set  out  in  Article L. 341-4  of  the  
French  Social  Security  Code,  the  shares  in  question  shall  be  
definitively allotted to that beneficiary before the remaining term  
298  
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9
GENERAL MEETING  
Proposed resolutions  
of  securities  issued  under  the  terms  of  this  authorisation  and  
for  the  exercise  of  any  associated  rights  and  to  make  all  
appropriate  arrangements  and  enter  into  any  agreement  
required to complete the envisaged share allotments;  
stipulation that the Board of Directors may adjust or remove this  
discount if it deems necessary in order to take into account, in  
particular,  locally  applicable  legal,  accounting,  tax  and  
workforce-related systems;  
resolve that this delegation of authority to the Board of Directors  
is to be valid for a period of [38 months] with effect from the  
date of this General Meeting, with the understanding that, unless  
authorised  in  advance  by  the  shareholders  at  the  General  
Meeting,  the  Board  of  Directors  may  not  make  use  of  this  
delegation once a third party has filed a draft tender offer for the  
Company’s shares, and until the end of the offer period;  
resolve that the Board of Directors may provide for the allotment  
of  shares  or  of  other  securities  giving  access  to  the  Company’s  
share  capital,  whether  to  be  issued  or  already  issued,  to  the  
Recipients  free  of  charge,  in  lieu  of  all  or  a  portion  of  the  
employer  contribution  and/or  the  discount  mentioned  above,  
within the limits set forth in ArticlesL.3332-11 and L.3332-21 of  
the  French  Labour  Code,  it  being  specified  that  the  maximum  
aggregate  nominal  amount  of  capital  increases  that  may  be  
carried out in line with these allotments will count towards the  
limit of 2% of the Company’s share capital referred to above;  
p
p
acknowledge that this authorisation supersedes, in relation to the  
unused  portion,  any  previous  authorisation  having  the  same  
purpose.  
p
formally note that, with regard to shares to be issued in lieu of  
some or all of the employer contribution and/or the discount, the  
Board  of  Directors  may  decide  to  increase  the  share  capital  
accordingly by capitalising reserves, earnings, issue premiums or  
other amounts that may be capitalised in favour of the Recipients,  
thus entailing (i)the corresponding waiver by the shareholders of  
that  portion  of  reserves,  earnings,  premiums  or  other  amounts  
thus capitalised and (ii)the automatic waiver by the shareholders  
of their pre-emptive subscription right. The corresponding capital  
increase  shall  be  deemed  to  have  been  completed  upon  final  
allotment of the shares in question to the Recipients;  
p
Resolution 14  
(Delegation  of  authority  to  the  Board  of  Directors,  for  a  
period of 26 months, to decide to increase the Company’s  
share  capital,  without  pre-emptive  subscription  rights  for  
existing  shareholders,  via  issues  to  persons  employed  by  
the  Company  or  by  a  company  of  the  Group,  subject  to  
enrolment in a company savings plan, up to a maximum of  
2% of the share capital)  
The  shareholders  at  the  General  Meeting,  having  fulfilled  the  
quorum  and  majority  requirements  for  Extraordinary  General  
Meetings,  and  having  reviewed  the  Management  report  of  the  
Board  of  Directors  and  the  Statutory  Auditors’  special  report,  in  
accordance with the provisions of ArticlesL.3332-18 et seq. ofthe  
French  Labour  Code  as  well  as  the  provisions  of  the  French  
Commercial  Code,  in  particular  its  ArticlesL.225-129-2,  
L.225-129-6 and L.225-138-1:  
consequently grant all powers to the Board of Directors, with the  
option  to  subdelegate  these  powers  under  the  conditions  laid  
down  by  law  and  by  the  Company’s  Articles  of  Association,  to  
put  this  authorisation  into  effect,  subject  to  the  limits  and  
conditions set out above, in particular so as to:  
p
determine the characteristics of securities to be issued and the  
proposed  amount  of  any  subscriptions  and,  in  particular,  
determine their issue prices, dates and periods, and the terms  
and  conditions  of  subscription,  payment,  delivery  and  vesting  
of  securities,  set  the  discount,  in  accordance  with  applicable  
legal and regulatory limits,  
delegate powers to the Board of Directors, including the ability to  
p
subdelegate  this  power  under  the  conditions  laid  down  in  law  
and  in  the  Company’s  Articles  of  Association,  to  decide  on  the  
issuance, on one or more occasions, in the amounts and at the  
times it sees fit, of (i)ordinary shares or (ii)equity securities giving  
immediate  or  future  access  by  any  means  to  other  equity  
securities of the Company, reserved for employees enrolled in a  
savings plan offered by the Company or by any related French or  
foreign company or group as defined in ArticleL.225-180 of the  
French  Commercial  Code  and  Article  L.  3344-1  of  the  French  
Labour Code (the “Recipients”);  
determine,  if  necessary,  the  nature  of  the  securities  to  be  
allotted free of charge, as well as the terms and conditions of  
their allotment,  
determine  whether  shares  are  allotted  free  of  charge  in  the  
case of shares to be issued or existing shares, and (i)where new  
shares are issued, check that there are sufficient reserves and,  
upon  each  allotment,  transfer  to  a  reserve  not  available  for  
distribution the amounts needed to pay up the new shares to  
be  issued,  increase  the  share  capital  by  capitalising  reserves,  
earnings, premiums or other amounts that may be capitalised,  
determine  the  type  and  amount  of  any  reserves,  earnings  or  
premiums  to  be  capitalised  in  consideration  of  the  
aforementioned  shares,  certify  the  completion  of  increases  in  
the  share  capital,  determine  the  vesting  date  of  newly  issued  
shares  (which  may  be  retrospective),  amend  the  Articles  of  
Association  accordingly,  and  (ii)where  existing  shares  are  
allotted, acquire the necessary shares under the conditions laid  
down  in  law,  and  take  any  and  all  action  required  to  
successfully complete the transactions,  
resolve  to  exclude,  in  favour  of  the  Recipients,  the  pre-emptive  
p
right of existing shareholders to subscribe for the ordinary shares  
or  other  securities  that  may  be  issued  under  this  delegation  of  
powers;  
resolve that this delegation of powers may not give access to a  
p
total  number  of  shares  representing  more  than  2%  of  the  
Company’s share capital (as assessed at the date when the Board  
of  Directors  makes  use  of  this  delegation  of  powers),  it  being  
specifiedthat this will be in addition to any additional number of  
shares to be issued to protect the rights of holders of securities  
giving access to the Company’s share capital, in accordance with  
the law or any applicable contractual agreement;  
resolve  that  if  the  subscriptions  obtained  do  not  absorb  the  
p
draw  up  the  list  of  companies  whose  employees  will  be  
recipients  of  the  issues  carried  out  under  this  delegation  of  
powers,  
entirety  of  an  issue  of  securities,  the  capital  increase  will  be  
limited to the amount of subscriptions received;  
resolve that the subscription price of securities issued under this  
p
determine whether subscriptions may be made directly by the  
recipients or only through an FCPE company mutual fund,  
resolution  may  not  be  (i)  higher  than  the  average  of  the  listed  
share  price  over  the  20  trading  days  preceding  the  date  of  the  
decision  setting  the  opening  date  of  the  subscription  period  
decided by the Board of Directors, or (ii) lower than this average  
less the maximum discount required by the laws and regulations  
in force at the date of the Board of Directors’ decision, with the  
charge any costs incurred in connection with capital increases  
against the premiums pertaining to those capital increases and  
deduct from the total to be charged the amount required to  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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9
GENERAL MEETING  
Proposed resolutions  
Resolution 15  
bring the legal reserve up to one tenth of the new share capital  
after each capital increase,  
(Powers granted to carry out all legal formalities)  
record  the  completion  of  capital  increases  up  to  the  value  of  
shares  actually  subscribed  or  of  other  securities  issued  under  
the terms of this authorisation,  
The  shareholders  at  the  General  Meeting  give  all  powers  to  the  
bearer of an original or copy of the minutes of this Meeting to carry  
out all legally required formalities.  
enter into any agreements and, either directly or via an agent,  
complete  all  procedures  and  formalities,  including  formalities  
subsequent to capital increases and consequential amendments  
to  the  Articles  of  Association  and,  more  generally,  take  all  
necessary steps,  
We  hereby  inform  you  that  the  resolutions  submitted  for  the  
approval  of  the  Extraordinary  General  Meeting  require  a  quorum  
representing at least one quarter of the total voting shares and a  
majority of two thirds of the votes submitted by the shareholders  
present  or  represented  by  proxy  holders.  Those  submitted  for  the  
approval of the Ordinary General Meeting require a quorum of at  
least one fifth of the total voting shares and a majority of the votes  
submitted  by  the  shareholders  present  or  represented  by  proxy  
holders.  Pursuant  to  Article L. 225-96  of  the  French  Commercial  
Code, the votes cast shall not include those attached to shares held  
by shareholders who did not take part in the vote, abstained, cast a  
blank vote or spoilt their vote.  
in  general  terms,  enter  into  any  agreement,  including  in  
particular  agreements  to  ensure  that  planned  issues  are  
successfully  completed,  take  any  steps  and  complete  any  
formalities required for the issuance, listing and management  
of  securities  issued  under  the  terms  of  this  authorisation  and  
for the exercise of any associated rights;  
resolve that this delegation of powers to the Board of Directors is  
to be valid for a period of 26months with effect from the date of  
this General Meeting;  
p
p
acknowledge  that  this  delegation  of  powers  supersedes,  in  
relation to the unused portion, any previous delegation of powers  
having the same purpose.  
300  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
9
GENERAL MEETING  
Special report of the Board of Directors  
4.
Special report of the Board of Directors  
SPECIAL REPORT OF THE BOARD OF DIRECTORS ON ALLOTMENTS OF FREE SHARES – FINANCIAL YEAR ENDED
31 DECEMBER 2020
In  accordance  with  the  provisions  of  Article L. 225-197-4  of  the  French  Commercial  Code,  we  are  pleased  to  present  our  report  on  
transactions  carried  out  pursuant  to  the  provisions  of  Articles L. 225-197-1  to  L. 225-197-3  of  the  aforementioned  Code  relating  to  
allotments of free shares.  
1) Allotment of free shares in 2020  
2) Vesting of free shares in 2020  
You  are  reminded  that  Resolution 23  of  the  Combined  General  
Meeting  of  12 June  2018  authorised  the  Board  of  Directors  to  
proceed with allotments of free shares to employees and officers of  
the Company or the Group to which it belongs, under the following  
terms and conditions:  
The  following  decision  was  made  by  the  Chief  Executive  Officer,  
acting on the authority of the Board of Directors:  
decision  by  the  Chief  Executive  Officer  of  1 April  2020  making  
p
use  of  the  authorisation  given  by  the  Board  of  Directors  on  
20 February 2020 to allot free shares under the free performance  
share  plan  put  in  place  by  Sopra Steria  Group SA  on  
24 February 2017 and 25 October 2017: full and final allotment  
of 59,732 shares with a par value of €1 each to 123 grantees,  
through the remittance of shares held in treasury.  
recipients: Employees and/or eligible company officers (as defined  
p
in  paragraph 1  of  Article L. 225-197-1 II  of  the  French  
Commercial Code) of the Company or of any related companies  
as  defined  in  Article L. 225-197-2  of  the  French  Commercial  
Code, or certain categories of such individuals;  
It should be noted that 1,905 performance shares vested with the  
Chief Executive Officer in connection with his corporate office.  
maximum  number  of  shares:  The  maximum  number  of  shares  
p
shall  not  exceed  3%  of  the  share  capital  at  the  date  of  the  
allotment  decision,  with  a  sub-limit  of  5%  of  that  3%  limit  for  
allotments  to  executive  company  officers  of  the  Company,  it  
being understood that this 3% limit is an overall limit covering all  
issues to employees and company officers for which authorisation  
is given to the Board;  
The number of free performance shares vested by the Company in  
2020 to the Company’s top ten non-company-officer employee free  
share grantees was:  
Unit value  
(share price on the date of
Number  
validity  of  the  authorisation:  38 months,  i.e.  until  12 August  
2021.  
p
of shares  
allotment)
Sopra Steria plan  
No  free  shares  were  granted  in 2020  by  the  Company,  by  any  
related companies as laid down in Article L. 225-180 of the French  
Commercial  Code  or  by  any  controlled  companies  as  defined  in  
Article L. 233-16 of the aforementioned Code.  
of 24 February 2017  
and of 25 October 2017  
12,065  
€96.40  
The Board of Directors  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
301
9
GENERAL MEETING  
Statement by the person responsible of the Universal Registration Document  
Statement by the person responsible of the Universal  
Registration Document  
Statement  by  the  person  responsible  of  the  Universal  
Registration Document  
the parent company and of all entities included in the scope of  
consolidation  and  that  the  relevant  information  in  the  
Management  Report,  detailed  in  the  cross-reference  table  on  
pages 312  to  313  entitled  “Information  regarding  the  
Management  Report”,  provides  a  true  and  fair  presentation  of  
the  development  of  the  businesses,  results  of  operations  and  
financial  positions  of  the  parent  company  and  of  all  entities  
included  in  the  scope  of  consolidation,  and  that  it  provides  a  
description  of  the  main  risks  and  uncertainties  to  which  these  
companies are exposed.  
I  declare,  that  the  information  contained  in  this  Universal  
Registration  Document  is,  to  the  best  of  my  knowledge,  in  
accordance  with  the  facts  and  contains  no  omission  likely  to  
affect its import.  
I hereby declare that, to the best of my knowledge, the financial  
statements  have  been  prepared  in  accordance  with  applicable  
accounting  standards  and  provide  a  true  and  fair  view  of  the  
assets, liabilities, financial position and results of operations of  
Paris, 17 March 2021  
Vincent Paris  
Chief Executive Officer  
302  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INDEX  
Index  
Financial terms  
Page(s)  
Accounting policies  
Acquisitions  
Table of contents, 49, 50, 75, 163, 164, 165, 214,227, 229, 234, 261, 310  
2, 4, 12, 19, 28, 29, 30, 36, 37, 45, 52, 53, 64,107, 113, 114, 141, 147, 150, 151, 152, 163,  
167, 190, 193, 194, 195, 215, 240, 241, 242, 252  
Actuarial gains and losses  
AFEP-MEDEF Code  
Annual Financial Report  
Annual financial statements  
Articles of Association  
159, 181, 247  
Table of contents, 51, 52, 58, 77, 79, 80, 85, 86,88, 89, 90, 91, 96, 109, 270, 294  
Table of contents, 1, 226, 260, 286  
50, 75, 76, 279, 313  
Table of contents, 18, 53, 56, 74, 75, 79, 268,274, 275, 277, 278, 279, 280, 281, 282, 283,  
284, 287, 292, 297, 298, 299, 300  
Audit Committee  
12, 36, 46, 48, 50, 54, 55, 61, 65, 68, 69, 70, 74,75, 76, 79, 80, 84, 104, 123, 132, 224,  
227, 228,258, 260, 261  
Audits  
38, 39, 41, 47, 48, 153, 224, 238, 246, 258  
1, 44, 164, 233, 268, 270, 297, 307  
78, 85, 86, 310  
Autorité des Marchés Financiers (AMF)  
Benefits in kind  
Board of Directors  
Table of contents, 6, 12, 18, 30, 33, 36, 46, 48,49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59,  
60, 61,62, 63, 64, 65, 70, 71, 72, 73, 74, 75, 76, 77, 78,79, 80, 81, 82, 83, 84, 85, 90, 91,  
92, 95, 96,102, 103, 110. 123, 132, 133, 153, 163, 182, 183,216, 225, 226, 227, 236,  
259, 260, 262, 263,265, 269, 270, 272, 273, 275, 276, 277, 278,279, 280, 281, 282, 283,  
284, 287, 289, 290,291, 292, 293, 294, 295, 296, 297, 298, 299,300, 301, 314, 315  
Business combinations  
Capital increases  
Cash flow  
168, 174, 190, 193, 199  
162, 183, 214, 299, 300, 314  
Table of contents, 2, 11, 13, 25, 29, 30, 31, 49, 83, 89, 94, 157, 159, 162, 163, 165, 171,  
182, 192, 198, 201, 204, 208, 209, 210, 211, 213, 214, 215, 216, 225, 226, 229, 232, 236,  
242, 250, 259, 294, 307, 310, 312  
Cash flow hedges (swaps)  
Cash-generating units (CGUs)  
Chairman (Pierre Pasquier)  
Code of conduct for stock market  
transactions  
159, 204, 208, 210, 211  
76, 191, 192, 225  
2, 6, 18, 53, 54, 57, 60, 73, 77, 79, 85, 88, 90, 95, 262, 290, 291, 296  
45, 132  
Combined General Meeting  
Table of contents, 54, 75, 183, 236, 246, 265, 268, 270, 273, 275, 286, 287, 290, 291, 295,  
301  
Compensation of Board members  
Compensation of senior executives  
Conflicts of interests  
245, 300  
53, 83, 84, 289, 320  
57, 76, 81, 137, 317  
Consolidated financial statements  
Table of contents, 1, 37, 49, 50, 90, 157, 158, 159, 160, 161, 162, 163, 164, 165, 166, 167,  
168, 169, 170, 171, 173, 174, 175, 176, 177, 178, 179, 180, 181, 182, 180, 384, 185, 186,  
187, 188, 189, 190, 191, 192, 193, 194, 195, 196, 197, 198, 199, 200, 201, 202, 203, 204,  
205, 206, 207, 208, 209, 210, 211, 212, 213, 214, 215, 216, 217, 218, 219, 220, 221, 222,  
223, 224, 225, 226, 227, 228, 233, 234, 248, 249, 260, 272, 279, 290, 291, 295, 311, 316  
Contingent liabilities  
Corporate governance  
163, 198, 199, 255  
Table of contents, 49, 51, 52, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69,  
70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 80, 92, 93,  
94, 95, 96, 114, 260, 270, 280, 290, 291, 296, 297, 310, 314, 315, 316  
Counterparty risk  
207, 251  
Cross-reference table  
Crossing of shareholding thresholds  
Deferred tax assets  
Directors  
Table of contents, 1, 97, 104, 131, 136, 137, 138, 139, 140, 302, 309, 310, 311, 312, 313, 316  
274  
160, 163, 165, 184, 185, 186  
Table of contents, 12, 18, 30, 33, 36, 40, 46, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59,  
60, 61, 62, 63, 64, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 89, 90,  
91, 92, 95, 96, 102, 103, 106, 110, 112, 123, 132, 133, 153, 163, 175, 182, 183, 216, 225,  
226, 227, 236, 237, 259, 260, 262, 263, 265, 269, 270, 272, 273, 275, 276, 277, 278, 279,  
204, 280, 281, 282, 283, 284, 287, 289, 290, 291, 292, 293, 294, 295, 296, 297, 298, 299,  
300, 301, 304, 314, 315  
Discount rate  
176, 177, 178, 179, 180, 181, 191, 192, 197, 225, 226, 237, 247, 259, 260  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
303
INDEX  
Financial terms  
Page(s)  
Dividends  
18, 161, 162, 182, 183, 197, 214, 216, 237 ,243, 246, 250, 256, 276, 296, 313  
Documents available to the public  
Environmental risks  
Executive Board  
Table of contents, 277, 287  
76, 123, 308  
64  
Executive Management  
6, 12 ,18, 33, 34 ,36, 44, 46 ,47, 48, 49, 50, 52, 53, 55, 56, 60, 10, 60, 17, 78, 79, 81, 102,  
103, 109, 110, 132, 134, 136, 263, 277, 280, 281, 282, 314  
Exercise price  
189, 196, 217, 269  
Extraordinary General Meeting  
Fair value  
246, 275,280, 282, 284, 289, 290, 292, 294,298, 299 ,300  
94, 95, 151, 159, 162, 165, 168, 177, 178, 179, 180 ,181, 183, 187, 192, 193, 197, 198,  
199, 202, 203, 204, 208, 209, 210, 211, 225, 226, 247, 252  
Financial debt  
2, 3, 30, 158, 160, 162, 163, 165, 185, 200, 201, 202, 203, 205, 206, 207, 209, 213, 214,  
215, 216, 231, 237, 248, 249, 250, 252, 253  
Financial expenses  
Financial instruments  
Fixed compensation  
Foreign currency translation gains  
Free share plans  
171, 181, 200, 204  
175, 203, 204, 207, 208, 210, 249, 251, 271, 312  
81, 82, 83, 84, 85, 86, 89, 91, 92, 95, 114 ,281  
231, 239, 252  
182, 183, 218, 246, 270, 271, 274, 293, 297  
183, 217, 236, 243, 245, 270, 272, 290, 294, 298, 301, 307, 314  
Free shares  
General Meeting  
Table of contents, 224, 246, 258, 262, 265, 273, 277, 278, 279, 280, 282, 280, 284, 287,  
295, 296, 297, 299  
General Meeting of Shareholders  
Governance  
55, 81, 82, 91, 278, 279, 285  
Table of contents, 67, 22, 33, 36, 38, 40, 41, 44, 45, 46, 49, 51, 52, 53, 54, 55, 56, 57, 58,  
59 ,60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74 ,75, 76, 77, 78, 79 80, 81, 83,  
84, 85 ,86, 87, 88, 89, 90 ,91, 92, 93, 94, 95, 96, 97, 99, 102, 103, 104, 106, 112, 114, 116,  
117, 118 ,122, 123, 132, 134, 137, 139, 142, 127, 260, 269, 270, 278, 280, 290 ,291, 296,  
297, 308, 310, 314, 315, 316  
Hedge accounting  
Hedging instruments  
Human resources  
203, 204, 207, 208, 209, 210, 249, 250  
175, 203, 204, 208, 209, 210 , 211, 212  
4, 6, 8 ,12, 22, 23 ,33, 34, 36, 38, 40, 41, 42, 44, 45, 46, 47, 49, 57, 61, 103, 106, 112, 132,  
133, 135, 154, 170, 193, 307  
Impairment  
76, 158, 164, 174, 187, 188, 189, 190, 191, 192, 195, 196, 197, 198, 199, 200, 214, 225,  
230, 231, 237, 240, 241, 242, 243, 244, 245, 259  
Impairment testing  
Independent Directors  
Intangible assets  
76, 191, 192, 225  
6, 56, 57, 58, 59, 75, 76, 77, 270  
30, 158, 160, 162, 163, 164, 165, 170, 185, 190, 192, 193, 194, 213, 214, 231,232, 233,  
239, 240, 307  
Interest coverage ratio  
Interest rate risk  
205, 248  
176, 204, 207, 209  
Internal control  
Table of contents, 6, 12, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 75,  
76, 103, 104, 132, 133, 135, 136, 137, 153, 225, 227, 228, de 159, 260, 261, 280, 287, 312  
Internal control procedures  
Internal rules  
49, 136, 225, 227, 228, 959, 261, 287  
52, 53, 56, 74, 75, 77, 78, 79, 278, 279, 280, 282  
Investments  
31, 39, 53, 59, 160, 163, 165, 166, 187, 188, 189, 192, 194, 196, 197, 198, 200, 201, 207,  
212, 215, 216, 225, 231, de 132, 238, 242, 243, 252, 262, 267, 269, 280, 307, 309, 315  
Issuer  
73, 309, 310  
Lessors  
61, 202  
Liability insurance  
Liquidity agreement  
Liquidity risk  
Main markets  
Major shareholders  
Management Committee  
Manager  
45  
201, 207, 216, 243, 270, 261, 287, 283, 297  
164, 205, 233  
17, 20, 309  
58, 280, 310  
6, 33, 53, 110  
4, 6, 21, 23, 25, 28, 34, 36, 40, 41, 47, 48, 53, 54, 64, 69, 72, 74, 79, 84, 90, 92, 96, 103,  
108, 110, 114, 133, 141, 176, 225, 259, 267, 269  
Minutes  
76, 77, 78, 80, 279, 280, de 184, 300  
304  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
INDEX  
Financial terms  
Page(s)  
Non-current assets  
160, 163, 170, 192, 198, 215, 217, 229, 231, 240, 250, 252  
75, 76, 163, 219, 229, 254, 255  
82, 83, 84, 95, 246, 275, 278, 279, 280, 282, 284, 289, 290, 291, 295, 296, 297, 300, 314  
Off-balance sheet commitments  
Ordinary General Meeting  
Organisation chart  
17, 34  
Other assets  
Other current liabilities  
Other liabilities  
179, 192, 199, 229, 244  
160, 163, 172, 185, 186, 190, 203, 215  
191  
Parent company financial statements  
Table of contents, 79, 88, 90, 229, 230, 231,232, 233, 234, 235, 236, 237, 238, 239, 240,  
241, 242, 243, 244, 245, 246, 247, 248, 249, 250, 251, 252, 253, 254, 255, 256, 257, 258,  
259, 260, 261, 262, 263, 264, 290, 295, 316  
Patents  
309, 240  
Pensions  
310  
Performance shares  
Plan assets  
Post-employment benefits  
Profit-sharing and incentives  
Provisions  
78, 82, 83, 84, 85, 86, 88, 89, 90, 92, 94, 236, 247, 270, 273, 294, 300  
177, 178, 179, 180, 181, 226, 247  
174, 175, 183, 226, 239  
238  
74, 90, 96, 104, 153, 154, 158, 160, 162, 163, 165, 168, 172, 174, 176, 185, 188, 196, 198,  
199, 206,213, 214, 229, 230 231, 232, 234, 238, 240, 241, 246, 247, 248, 252, 256, 259,  
260, 269, 270, 278, 279, 280, 291, 297, 298, 299, 301, 307, 308, 310, 314  
Purchasing  
Recoverable amount  
Regulated agreements  
Research and development (RD)  
Research and development expenses  
Risk management  
6, 33, 34, 45, 97, 101, 103, 116, 119, 120, 123, 127, 128, 132, 133, 135, 138, 156  
164, 165, 187, 192, 197, 198, 225, 233, 259  
Table of contents, 55, 76, 77, 81, 91, 237, 269, 270  
17, 24, 26, 118, 194, 309, 312  
240  
Table of contents, 6, 12, 24, 35, 36, 37, 38, 39, 40, 41, 42, 44, 45, 46, 47, 56, 57, 68, 75, 76,  
132, 133, 163, 200, 205, 210, 227, 251, 260, 280, 312  
Risk management system  
Share buyback programme  
Share capital  
46  
Table of contents, 271, 276, 277  
Table of contents, 4, 14, 18, 21, 30, 58, 60, 61, 96, 160, 161, 167, 168, 183, 197, 212, 216,  
231, 233, 236, 243, 256, 260, 265, 266, 270, 260 et 11, 272, 273, 274, 278, 283, 286, 290,  
293, 294, 295, 296, 297, 298, 299, 300, 301, 310, 311, 313, 315  
Share subscription options  
Share-based payments  
Shareholder agreements  
Shareholders  
91, 92, 189, 224  
161, 163, 174, 182, 183, 216, 272  
Table of contents, 271, 275  
Table of contents, 2, 9, 14, 15, 18, 30, 51, 52, 53, 54, 55, 56, 57, 58, 59, 62, 76, 77, 78, 80,  
81, 82, 83, 84, 87, 89, 91, 92, 95, 97, 115, 153, 161, 162, 167, 189, 190, de 116, 224, 227,  
236, 243, 246, 258, 260, 261, 262, 265, 267, 268, 269, 270, 260 et 11, 272, 275, 276, 278,  
279, 280, 281, 282, 283, 284, 285, 287, 290, 291, 292, 293, 295, 296, 297, 298, 299,  
300,310, 313, 314, 315  
Societal responsibility  
Staff costs  
Table of contents, 68, 101, 107, 119, 120, 121, 122, 123, 124, 125, 142  
158, 163, 164, 173, 174, 181, 229, 230, 233, 236, 244, 251, 252, 253  
Stakeholders  
Table of contents, 2, 4, 7, 9, 11, 26, 27, 29, 37, 38, 46, 52, 56, 63, 69, 92, 97, 98, 99, 103,  
108, 112, 115, 116, 117, 118, 119, 120, 121, 122, 128, 132, 133, 136, 138, 308  
Statement by the person responsible for  Table of contents, 310  
the Universal Registration Document  
Statutory Auditors  
Table of contents, 1, 46, 48, 49, 50, 76, 79, 88, 157, 223, 224, 225, 226, 227, 228, 229, 258,  
259, 260, 261, 262, 263, 277, 283, 285, 287, 291, 295, 298, 299, 309, 311, 312, 316  
Stock options  
85, 86, 158, 162, 183, 273, 307, 310  
Sustainable development  
12, 15, 27, 33, 34, 46, 77, 99, 100, 103, 104, 106, 115, 116, 121, 122, 123, 129, 130, 131,  
132, 135, 136, 137, 154, 308, 313  
Tax consolidation  
Tax credits  
238  
184, 238, 245  
Termination benefits  
Trade payables  
Transactions in securities  
189  
160, 186, 203, 215, 229, 231, 232, 245, 251, 252, 253, 257  
Table of contents, 265, 273  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
305
INDEX  
Financial terms  
Page(s)  
Variable compensation  
Workforce  
58, 78, 81, 82, 83, 84, 85, 86, 90, 91, 92, 94, 95, 96, 114, 314  
Table of contents, 7, 10, 17, 23, 27, 30, 91, 92, 98, 104, 105, 108, 109, 110, 111, 113, 114,  
121, 126, 137, 141, 142, 146, 147, 154, 155, 163, 175, 237, 299, 306, 313  
Operational terms  
Big data  
22, 25  
Cloud  
Cybersecurity  
Digital  
8, 9, 10, 20, 21, 22, 23, 24, 25, 26, 27, 28, 33, 39, 41, 78, 108, 115, 129, 130  
8, 9, 21, 22, 26, 33, 39, 43, 101, 116, 117, 118, 170, 224, 233, 258  
Table of contents, 3, 4, 5, 6, 7, 8, 9, 11, 12, 17, 19, 20, 21, 22, 24, 25, 26, 27, 28, 29, 30, 31,  
34, 36, 37, 39, 41, 42, 52, 54, 56, 57, 60, 61, 63, 66, 70, 71, 72, 73, 97, 98, 99, 100,  
101,102, 106, 107, 108, 109, 110, 111, 112, 115, 116, 117, 118, 119, 120, 121, 122, 123,  
124, 129, 130, 131, 138, 140, 167, 224,2 158, 286, 307  
Digital transformation  
3,4, 8,11 12, 19, 21, 22, 23, 24, 25, 26, 27, 29, 34, 36, 37, 39, 41, 61, 63, 70, 71, 73, 99,  
100, 112, 115, 117, 118, 121, 129,2 124,2 158  
Mobile  
Offshore  
Services  
21, 24, 25, 39  
28  
Table of contents, 3, 4,6, 8, 10, 11, 12,17, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 33,  
34, 36, 37, 39, 40, 41, 45, 53, 54, 56, 57, 59, 60, 61, 64, 69, 71, 73, 74, 75, 76, 77, 78, 79,  
86, 88 102, 113, 115, 116, 118, 119, 121,5 22, 124, 127, 129, 130, 131, 134, 153, 155, 156,  
167, 170, 171, 172, 173, 183, 185, 187, 188, 190, 210, 218, 220, 221,223, 224, 234, 235,  
243, 244, 245, 258, 262, 263, 266, 271, 286, 293, 297, 307  
Solutions  
Table of contents, 2,3 ,4 5, 8, 10, 11,17 ,18 19, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 33,  
39, 40, 41, 61, 64, 69, 80, 100, 102, 105, 111, 115, 116, 117, 118, 121, 122, 123, 129, 130,  
131, 134, 150, 151, 152, 155, 156, 167, 169, 170, 171, 173, 199, 215, 220 ,221,222, 224,  
233, 235, 240, 258, 275, 286  
Workforce  
Table of contents, 7, 10, 17, 23, 27, 30, 91, 92, 98, 104, 105, 108, 109, 110, 111, 113, 114,  
121, 126, 137, 141, 142, 146, 147, 154, 155, 163, 175, 237, 299, 306, 313  
306  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
GLOSSARY  
Glossary  
Acronyms  
Alternative performance indicators  
AMF:  Autorité  des  Marchés  Financiers  (French  Financial  
Restated revenue: revenue for the prior year, expressed on  
p
p
Markets Authority)  
the basis of the scope and exchange rates for the current year.  
ANSSI:  Agence  National  de  la  Sécurité  des  Systèmes  
d'Information (French IT Security Agency)  
Organic revenue growth: increase in revenue between the  
period under review and restated revenue for the sameperiod  
in the prior financial year.  
p
p
API: Application programming interface  
p
EBITDA:this measure, as defined in the Universal Registration  
Document,  is  equal  to  consolidated  operating  profit  on  
business activity after adding back depreciation, amortisation  
and  provisions  included  in  operating  profit  on  business  
activity.  
p
p
BPS: Business process services  
p
CNIL: Commission Nationale de l’Informatique et des Libertés  
(French data protection authority)  
p
COP21: 2015 Paris climate change conference  
p
DevSecOps: Development - Security - Operations  
p
Operating  profit  on  business  activity:  this  measure,  as  
defined  in  the  Universal  Registration  Document,  is  equal  to  
profit  from  recurring  operations  adjusted  to  exclude  the  
share-based  payment  expense  for  stock  options  and  free  
shares  and  charges  to  amortisation  of  allocated  intangible  
assets.  
DLP: Data loss prevention  
p
DRM: Digital rights management  
p
DSI: Direction des Services Informatiques (Information Services  
Department)  
p
GAFA:  Google,  Apple,  Facebook,  Amazon  (“Big  Four”  tech  
companies)  
p
Profit from recurring operations:this measure is equal to  
operating profit before other operating income and expenses,  
which includes any particularly significant items of operating  
income  and  expense  that  are  unusual,  abnormal,  infrequent  
or  not  predictive,  presented  separately  in  order  to  give  a  
clearer picture of performance based on ordinary activities.  
p
GDPR: General Data Protection Regulation  
p
HR: Human Resources  
p
ILO: International Labor Organization  
p
LPM: Military Planning Act (“Loi de programmation militaire”,  
Law no. 2013-1168 of 18 December 2013)  
p
Basic recurring earnings per share: this measure is equal  
to  basic  earnings  per  share  before  other  operating  income  
and expenses net of tax.  
p
p
NIS: Network information system  
p
PaaS: Platform as a Service  
p
Free  cash  flow:  free  cash  flow  is  defined  as  the  net  cash  
from operating activities, less investments (net of disposals)in  
property,  plant    equipment,  and  intangible  assets,  less  net  
interest paid and less additional contributions to address any  
deficits in defined-benefit pension plans.  
PLM: Product lifecycle management  
p
SaaS: Software as a Service  
p
SNFP: Statement of Non-Financial Performance  
p
SOC: Security operations centre  
p
Downtime:  Number  of  days  between  two  contracts  
(excluding  training,  sick  leave,  other  leave  and  pre-sale)  
divided by the total number of business days  
p
UN: United Nations  
p
UX: User experience  
p
WEPs: Women Empowerment Principles  
p
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
307
GLOSSARY  
Climate Disclosure Standards Board (CDSB): the Climate  
Disclosure Standards Board is an international consortium of  
businesses and environmental NGOs that works in particular  
with the TCFD on these issues. The CDSB has built a reporting  
framework covering the following 12 recommendations:  
p
Corporate responsibility  
Sustainable  Development  Goals  (SDGs)  defined  by  the  
p
United  Nations:  The  Sustainable  Development  Goals  (SDGs)  
defined by the United Nations are 17 global goals adopted by  
all  of  the  organisation’s  member  states  in  2015  to  be  
achieved  by  2030.  They  cover  many  different  areas,  from  
protecting the planet to building a more peaceful world and  
ensuring that everyone can live in safety, security and dignity.  
These goals are part of a development programme thataims  
to  prioritise  support  for  the  most  vulnerable,  especially  
children and women.  
CDSB/REQ-01 Governance: Disclosures shall describe the  
governance  of  environmental  policies,  strategy  and  
information.  
CDSB/REQ-02  Management’s  environmental  policies,  
strategy  and  targets:  Disclosures  shall  report  
management’s environmental policies, strategy and targets,  
including  the  metrics,  plans  and  timeliness  used  to  assess  
performance.  
Materiality matrix: a materiality analysis helps identify and  
CDSB/REQ-03 Risks and opportunities:Disclosures shall  
explain the material current and anticipated environmental  
risks and opportunities affecting the organisation.  
p
prioritise  the  most  relevant  issues  for  a  company  and  its  
stakeholders, and is presented in the form of a matrix, which  
plots  these  issues  according  to  their  importance  to  the  
company (x-axis) and to its external stakeholders (y-axis).  
CDSB/REQ-04  Sources  of  environmental  impact:  
Quantitative  and  qualitative  results,  together  with  the  
methodologies used to prepare them, shall be reported to  
reflect material sources of environmental impact.  
Materiality:the degree of materiality determined reflects the  
extent  to  which  an  issue  is  capable  of  influencing  the  
company’s strategy, reputation or financial health.  
p
CDSB/REQ-05 Performance and comparative analysis:  
Disclosures  shall  include  an  analysis  of  the  information  
disclosed  in  REQ-04  compared  with  any  performance  
targets set and with results reported in a previous period.  
Greenhouse  gases  (GHG):  Greenhouse  gases  are  gaseous  
p
components that absorb infrared radiation emitted from the  
earth’s surface and contribute to the greenhouse effect. The  
increase  in  their  concentration  in  the  earth’s  atmosphere  is  
one of the factors causing global warming.  
CDSB/REQ-06  Outlook:  Management  shall  summarise  
their conclusions about the effect of environmental impacts,  
risks,  opportunities  and  policy  outcomes  on  the  
organisation’s future performance and position.  
Science  Based  Targets  initiative  (SBTi):  Science  Based  
p
Targets  is  an  internationally  recognised  initiative  offering  
mathematical  models  for  identifying  the  environmental  
footprint  of  activities  so  as  to  be  able  to  set  ambitious  
greenhouse gas emissions reduction targets.  
CDSB/REQ-07  Organisational  boundary:  Environmental  
information  shall  be  prepared  for  the  entities  within  the  
boundary  of  the  organisation  or  group  for  which  the  
mainstream  report  is  prepared  and,  where  appropriate,  
shall  distinguish  information  reported  for  entities  and  
activities outside that boundary.  
CDP: non-profit organisation that runs the global disclosure  
system for investors, companies, cities, countries and regions  
to manage their environmental impact.  
p
Task  Force  on  Climate-related  Financial  Disclosures  
CDSB/REQ-08  Reporting  policies:  Disclosures  shall  cite  
the  reporting  provisions  used  for  preparing  environmental  
information and shall (except in the first year of reporting)  
confirm  that  they  have  been  used  consistently  from  one  
reporting period to the next.  
p
(TCFD):  a  task  force  focused  on  climate-related  financial  
disclosures,  created  as  part  of  the  G20  Financial  Stability  
Board. The TCFD is one of the most important developments  
in the area of climate reporting by businesses.  
Scope 1 (of the GHG Protocol): covers direct greenhouse  
CDSB/REQ-09  Reporting  period:  Disclosures  shall  be  
provided on an annual basis.  
p
gas  emissions  arising  from  the  combustion  of  fossil  fuels  
(petroleum,  fuel  oil,  biodiesel  and  gas)  and  the  escape  of  
coolants from air conditioning systems in offices and on-site  
data centres.  
CDSB/REQ-10 Restatements:Disclosures shall report and  
explain any prior year restatements.  
CDSB/REQ-11  Conformance:  Disclosures  shall  include  a  
statement of conformance with the CDSB Framework.  
Scope 2 (of the GHG Protocol):covers indirect greenhouse  
gas emissions associated with consumption of grid electricity  
and district heating in offices and on-site data centres.  
p
CDSB/REQ-12 Insurance: If assurance has been provided  
over  whether  reported  environmental  information  is  in  
conformance  with  the  CDSB  Framework,  this  shall  be  
included  in  or  cross-referenced  to  the  statement  of  
conformance of REQ-11.  
Scope 3 (of the GHG Protocol):covers indirect greenhouse  
gas emissions associated with consumption of grid electricity  
in off-site data centres and business travel.  
p
Market-based:  method  for  calculating  greenhouse  gas  
p
emissions  based  on  emissions  factors  specific  to  the  energy  
source used.  
308  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
CROSS-REFERENCE TABLE  
Cross-reference table  
2020 Universal Registration Document (URD)  
Information required for a universal registration document as listed in Annexes I and II of Commission Delegated Regulation (EU) 2019/980  
of 14 March 2019.  
Page  
Chapter  
1. Persons responsible, third party information, experts’ reports and competent authority approval  
1.1  
1.2  
1.3  
Identification of the persons responsible  
Declaration of the persons responsible  
Identification, qualification and potential conflicts of interest  
of persons acting as experts  
Certification of third party information  
Statement without prior approval of the competent authority  
285  
302  
8
-
N/A  
N/A  
1
N/A  
N/A  
-
1.4  
1.5  
2. Statutory auditors  
2.1  
2.2  
Identification of the statutory auditors  
Potential change  
285  
N/A  
8
N/A  
Integrated  
Presentation, 2  
3. Risk factors  
12, 35-42  
4. Information about the issuer  
4.1  
4.2  
4.3  
4.4  
Corporate name and trade name  
Place, registration number and LEI  
Date of incorporation and statutory length of life  
Head office and legal form, legislation under which the issuer  
operates, country of incorporation, the address, telephone number  
of its registered office, website and a disclaimer  
18  
18  
18  
1
1
1
18  
1
5. Business overview  
Integrated  
Presentation, 1  
5.1  
Main activities  
3-4, 8-11, 21-26  
Integrated  
Presentation, 1  
5.2  
5.3  
Main markets  
Important events  
8, 20  
31,167-168, 233  
1, 5, 6  
Integrated  
Presentation, 1, 4  
5.4  
5.5  
Strategy and objectives  
Dependence of the issuer on patents, licences, contracts  
and manufacturing processes  
Competitive position statement  
Investments  
11, 26-29, 99-104  
240  
20  
6
1
5.6  
5.7  
29, 31, 167, 233  
19, 29, 31, 267, 233  
N/A  
1,  
5, 6  
1, 5, 6  
N/A  
5.7.1 Material investments  
5.7.2 Main current or future investments  
5.7.3 Information about joint ventures and interests  
196-197, 218  
5
5.7.4 Environmental issues that may affect the use of tangible fixed  
assets  
Integrated  
Presentation, 4  
7, 122-131  
6. Organisational structure  
6.1  
6.2  
Brief description of the Group  
List of significant subsidiaries  
33-34  
32, 220-222, 243  
1
1, 5, 6  
7. Review of financial position and results  
7.1 Financial position  
7.1.1 Changes in results and financial position including key  
performance indicators of a financial nature and, where  
appropriate, non-financial nature  
3, 6, 10, 13, 29-31,  
106-131  
Integrated  
Presentation, 1, 4  
Integrated  
Presentation, 1, 2,  
6 (note 5)  
7.1.2 Forecasts for future development and research and development  
activities  
11, 38,  
26-29, 240  
7.2  
Operating results  
7.2.1 Significant factors and unusual, infrequent events or new  
developments  
7.2.2 Reasons for significant changes in net sales or revenues  
37, 164  
N/A  
2, 5  
N/A  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
309
CROSS-REFERENCE TABLE  
Page  
Chapter  
8. Capital resources  
8.1  
8.2  
8.3  
8.4  
8.5  
Capital information  
Cash flows  
Funding needs and funding structure  
Restrictions on the use of capital resources  
Anticipated sources of funds  
161, 216-217, 246  
162, 213-216, 242  
200-212  
5
5
(note 14), 6  
(note 13), 6  
(note 12)  
N/A  
5
N/A  
N/A  
N/A  
9. Regulatory environment  
Description of the regulatory environment and any measures or factors  
of an administrative, economic, budgetary, monetary or political nature  
44  
2
10. Trend information  
10.1 Description of major trends and any significant changes in the  
Group’s financial performance since the end of the last financial  
year  
N/A  
26  
N/A  
1
10.2 Events likely to have a material impact on the outlook  
11. Profit forecasts or estimates  
Integrated  
Presentation, 1  
Integrated  
Presentation, 1  
11.1 Published profit forecasts or estimates  
11, 29  
11, 29  
1, 307  
11.2 Statement outlining key forecasting assumptions  
11.3 Statement of comparability with historical financial information  
and compliance with accounting policies  
-
12. Administrative, management and supervisory bodies  
12.1 Information concerning Management Board and Supervisory Board  
members  
12.2 Conflicts of interest  
Integrated  
Presentation, 1, 3  
6, 33, 54-73  
73, 79  
3
13. Remuneration and benefits  
13.  
Remuneration paid and benefits in kind  
81-95, 183  
3,  
5 (note 5.5)  
178-183, 246-247,  
254-255  
13.2 Provisions for pensions and retirement benefits  
14. Board practices and functioning of supervisory and management bodies  
14.1 End dates for terms of office  
5
(note 5), 6  
33, 54-73  
53-54, 73  
3
3
14.2 Service contracts between members of the administrative,  
management or supervisory bodies and the issuer  
14.3 Information on the Audit Committee and the Remuneration  
Committee  
14.4 Statement of compliance with the corporate governance regime  
14.5 Potential significant impacts on corporate governance  
15. Employees  
75-76, 78  
52, 96  
55  
3
3
3
Integrated  
Presentation,  
1, 4, 5, 6  
3, 10, 31, 113,  
141, 237  
15.1 Number of employees  
15.2 Profit sharing and stock options  
15.3 Agreement for employees to subscribe to the share capital  
16. Major shareholders  
182-183, 236-237  
236-237, 268  
5,  
6,  
6
7
Integrated  
Presentation, 7  
16.  
Shareholders holding more than 5% of the share capital  
4, 267  
16.2 Existence of different voting rights  
267, 268, 283  
7,  
8
Integrated  
Presentation,7  
16.3 Ownership or control of the issuer, directly or indirectly  
16.4 Arrangements known to the issuer, the operation of which may  
4, 267, 269-270  
269-270  
result  
in a change of control  
7
310  
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CROSS-REFERENCE TABLE  
Page  
218  
Chapter  
17 Related party transactions  
5 (note 15)  
18. Financial information concerning assets and liabilities, financial position and results  
18.1 Historical financial information  
1
18.1.1 Audited historical financial information covering  
the latest three financial years and the audit report  
18.1.2 Change of accounting reference date  
18.1.3 Accounting standards  
18.1.4 Change of accounting framework  
18.1.5 Financial information under French accounting standards  
18.1.6 Consolidated financial statements  
157-228, 229-263  
5, 6  
N/A  
5, 6  
N/A  
5, 6  
5
N/A  
164-166, 234  
N/A  
158-223, 230-257  
158-223  
18.1.7 Dates of the latest financial information  
18.2 Interim and other financial information  
18.3 Audit of historical annual financial information  
18.3.1 Independent audit of historical annual financial information  
18.3.2 Other audited information  
158-223, 230-257  
N/A  
224-228, 258-261  
N/A  
5, 6  
N/A  
5, 6  
N/A  
N/A  
N/A  
N/A  
N/A  
18.3.3 Sources of information not audited by the statutory auditors  
Integrated  
Presentation, 1, 5,  
6
3, 30-31, 205-206,  
248-249  
18.4 Pro forma financial information  
18.5 Dividend policy  
18.5.1 Description of dividend distribution policy  
and any applicable restrictions  
276  
7
3, 13, 14, 31,  
161-162, 216, 232,  
256, 276, 291,  
295-296  
Integrated  
Presentation, 1, 4,  
5, 6, 7, 9  
18.5.2  
18.6 Governmental, legal and arbitration proceedings  
18.7 Significant change in financial position  
19 Additional information  
202, 252, 255  
N/A  
5, 6  
N/A  
19.1 Share capital information  
267-268, 272  
7
19.1.1 Amount of issued capital, number of shares issued and fully paid  
up and nominal value per share, number of shares authorised  
216, 236,  
246, 256, 272  
5, 6, 7  
19.1.2 Shares not representing capital  
19.1.3 Number, book value and nominal value of treasury shares  
19.1.4 Information concerning securities giving access to share capital  
272  
270-272  
274  
7
7
7
19.1.5 Information on the conditions governing any acquisition rights  
and/or obligations attached to the subscribed but not paid-up  
capital, or on any undertaking to increase the share capital  
274-275  
7
19.1.6 Information on the share capital of Group companies  
subject to option  
19.1.7 Historical information on the share capital  
19.2 Memorandum and Articles of Association  
19.2.1 Register and corporate purpose  
79  
272  
278-284  
18  
3
7
8
1
7
19.2.2 Rights, privileges and restrictions attached to each class of shares  
274-275  
19.2.3 Arrangements having the effect of delaying, deferring or  
preventing a change of control  
20 Material contracts  
274-275  
38  
7
2
8
21. Documents available  
287  
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CROSS-REFERENCE TABLES FOR THE MANAGEMENT REPORT  
Cross-reference tables for the Management Report  
Page  
Chapter  
1. OVERVIEW OF THE COMPANY’S SITUATION AND BUSINESS ACTIVITY  
Overview of the Company’s situation, together with an objective  
and exhaustive analysis of changes in its business, performance  
and financial position, in particular its debt position relative  
to business volume and complexity  
Articles L. 225-100-1, I, 1°,  
L. 232-1, II, L. 233-6 and  
L. 233-26 of the French 29-31, 158-223,  
Commercial Code  
230-257  
1, 5, 6  
Article L. 225-100-1, I, 2° of  
the French Commercial Code  
Integrated  
11, 29 Presentation, 1  
Financial key performance indicators  
Non-financial key performance indicators relating specifically  
to the Company’s business  
Article L. 225-100-1, I, 2° of  
the French Commercial Code  
Integrated  
7, 98-156 Presentation, 4  
Major events occurring between the balance sheet date  
and the date on which the Management Report was approved  
for publication  
Articles L. 232-1, II and  
L. 233-26 of the French  
Commercial Code  
Article L. 232-1, II of the  
French Commercial Code  
31, 219, 255  
32, 220-222,  
243  
31, 167-168,  
233  
1, 5, 6  
1, 5, 6  
1, 5, 6  
Existing branches  
Article L. 233-6, paragraph 1 of  
the French Commercial Code  
Stakes acquired in companies having their head office in France  
Articles L. 233-29, L. 233-30  
and R. 233-19 of the French  
Commercial Code  
Alienation of cross-holdings  
N/A  
N/A  
Articles L. 232-1, II and  
L. 233-26 of the French  
Commercial Code  
Integrated  
Presentation,  
1, 2  
Foreseeable developments in the Company’s situation and future  
outlook  
11, 26-31, 39  
Articles L. 232-1, II and  
L. 233-26 of the French  
Commercial Code  
Article R. 225-102 of the  
French Commercial Code  
Research and development activities  
Table showing the Company’s results over the past five financial  
years  
26, 240-244  
256  
1, 6  
6
Information relating to payment terms for the Company’s clients  
and suppliers  
Article D. 441-4 of the French  
Commercial Code  
257  
6
Articles L. 511-6 and R.  
511-2-1-3 of the French  
Monetary and Financial Code  
Amount of intercompany loans granted and statement  
by the Statutory Auditors  
N/A  
N/A  
2. INTERNAL CONTROL AND RISK MANAGEMENT  
Integrated  
Presentation,  
2, 5  
Article L. 225-100-1, I, 3° of  
the French Commercial Code  
[12], 36-43,  
200-212  
Main risks and uncertainties to which the Company is exposed  
Financial risks associated with the effects of climate change  
and description of mitigation measures  
Main characteristics of internal control and risk management  
procedures relating to the preparation and processing of  
accounting and financial information  
Article L. 22-10-35, 1° of the  
French Commercial Code  
99-105,  
122-131  
4
2
Article L. 22-10-35, 2° of the  
French Commercial Code  
44-48  
Objectives and particulars of the Company’s hedging programme  
for each transaction category and the Company’s exposure  
to price, credit, liquidity and cash flow risks, including information  
on the Company’s use of financial instruments  
Article L. 225-100-1, I, 4° of  
the French Commercial Code  
Law no. 2016-1691 of 9  
December 2016 (Sapin 2 law)  
200-212,  
249-251  
5, 6  
4
Anti-corruption arrangements  
133  
Article L. 225-102-4 of the  
French Commercial Code  
Vigilance plan and report on its effective implementation  
134-136  
4
312  
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Page  
Chapter  
3. SHAREHOLDERS AND MOVEMENTS IN SHARE CAPITAL  
Share ownership structure, movements in the Company’s  
share capital and crossing of thresholds  
Article L. 233-13 of the French  
Commercial Code  
Article L. 225-111 of the French  
Commercial Code  
267-268, 272  
273-274  
7
7
Purchases and sales by the Company of its own shares  
Article L. 225-102,  
paragraph 1 of the French  
Commercial Code  
Articles R. 228-90 and R.  
228-91 of the French  
Commercial Code  
Employee share ownership  
268  
7
7
Mention of potential adjustments for securities conferring access  
to the share capital in the event of share buybacks or financial  
transactions  
273-274  
Article L. 621-18-2 of the  
French Monetary and Financial  
Code  
Information on transactions by senior executives and related  
persons involving Company securities  
Amount of dividends distributed in respect of the past three  
financial years  
273  
276  
7
7
Article 243 bisof the French Tax  
Code  
4. STATEMENT OF NON-FINANCIAL PERFORMANCE  
Articles L. 225-102-1 and  
R. 225-105 of the French  
Commercial Code  
Integrated  
[8-9], 100 Presentation, 4  
Business model  
Articles L. 225-102-1 and  
R. 225-105, I, 1° of the French  
Commercial Code  
Overview of the main risks related to the Company’s business  
activities  
36-43  
2
Information on the manner in which the Group takes into account  
Articles L. 225-102-1, III,  
the social and environmental consequences of its business activities  R. 225-104 and R. 225-105, I,  
as well as the impact of these business activities on respect  
for human rights and anti-corruption measures  
2° of the French Commercial  
Code  
Articles L. 225-102-1 and  
R. 225-105, I, 3° of the French  
Commercial Code  
97-156  
97-156  
106-114  
122-131  
115-121  
133  
4
4
4
4
4
4
Results of policies adopted by the Company or the Group,  
including key performance indicators  
Articles L. 225-102-1 and  
R. 225-105, II, A, 1° of the  
French Commercial Code  
Articles L. 225-102-1 and  
R. 225-105, II, A, 2° of the  
French Commercial Code  
Articles L. 225-102-1 and  
R. 225-105, II, A, 3° of the  
French Commercial Code  
Articles L. 225-102-1 and  
R. 225-105, II, B, 2° of the  
French Commercial Code  
Workforce-related information (employment, work organisation,  
health and safety, labour relations, training, equal treatment)  
Environmental information (general environmental policy, pollution,  
circular economy, climate change)  
Social information (civic engagement to promote sustainable  
development, subcontractors and suppliers, fair business practices)  
Information relating to anti-corruption measures  
Articles L. 225-102-1 and  
R. 225-105, II, B, 2° of the  
French Commercial Code  
Article L. 225-102-2 of the  
French Commercial Code  
Information relating to actions to support human rights  
Information specific to Seveso sites  
106, 132  
N/A  
4
N/A  
Collective agreements signed within the Group as well as their  
impact on its economic performance and on working conditions  
for its employees  
Articles L. 225-102-1, III and  
R. 225-105 of the French  
Commercial Code  
Articles L. 225-102-1, III and  
R. 225-105-2 of the French  
Commercial Code  
112-113, 145  
153-154  
4
4
Certification by the independent third party of the presence of  
indicators in the statement of non-financial performance  
5. ADDITIONAL INFORMATION REQUIRED FOR THE PREPARATION OF THE MANAGEMENT REPORT  
Articles 223 quaterand 223  
quinquiesof the French Tax Code  
133, 184-185,  
238  
Additional tax information  
4, 5, 6  
N/A  
5
Article L. 464-2 of the French  
Commercial Code  
Article L. 232-6 of the French  
Commercial Code  
Pecuniary sanctions or injunctions for anti-competitive practices  
Modifications, if any, to the presentation of the annual financial  
statements  
N/A  
165  
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313
REPORT ON CORPORATE GOVERNANCE  
Report on corporate governance  
ITEM  
REFERENCE TEXTS  
PAGES  
CHAPTER  
1. Information on compensation  
Article L. 22-10-8, I,  
paragraph 2 of the French  
Commercial Code  
Compensation policy for company officers  
81-84  
3
Total compensation and benefits of any type paid during  
the financial year or awarded in respect of the financial year  
to each company officer  
Article L. 22-10-9, I, 1° of the  
French Commercial Code  
Article L. 22-10-9, I, 2° of the  
French Commercial Code  
Article L. 22-10-9, I, 3° of the  
French Commercial Code  
Article L. 22-10-9, I, 4° of the  
French Commercial Code  
82-84, 85-91  
82-84  
3
3
3
3
Relative proportions of fixed and variable compensation  
Use of the option to request that variable compensation be  
returned  
Commitments of any type made by the Company to its company  
officers  
83  
81-85  
Compensation paid or awarded by a company included  
in the Group’s scope of consolidation within the meaning  
of Article L. 233-16 of the French Commercial Code  
Ratios between each executive company officer’s compensation  
and the averageand mediancompensation of the Company’s  
employees  
Annual change in compensation, performance by the Company,  
the average remuneration of employees and the aforementioned  
ratios over the past five financial years  
Article L. 22-10-9, I, 5° of the  
French Commercial Code  
78, 79, 84, 87-88  
91-95  
3
3
3
Article L. 22-10-9, I, 6° of the  
French Commercial Code  
Article L. 22-10-9, I, 7° of the  
French Commercial Code  
91-95  
Explanation of the way in which total compensation adheres  
to the compensation policy adopted, including its contribution  
to the Company’s long-term performance and how performance  
conditions were applied  
Article L. 22-10-9, I, 8° of the  
French Commercial Code  
81-86  
3
Manner in which votes cast at the most recent Ordinary General  
Meeting were taken into account, pursuant to section II  
of Article L. 225-100 (until 31 December 2020) and section I  
of Article L. 22-10-34 (from 1 January 2021)  
Departures from the procedure for the implementation  
of the compensation policy and any exceptions made  
Application of the provisions of Article L. 225-45, paragraph 2  
of the French Commercial Code  
Granting of options to the company officers and options held  
by them  
Article L. 22-10-9, I, 9° of the  
French Commercial Code  
Article L. 22-10-9, I, 10° of the  
French Commercial Code  
Article L. 22-10-9, I, 11° of the  
French Commercial Code  
Article L. 225-185 of the French  
Commercial Code  
95  
85-86  
N/A  
3
3
N/A  
3
85-91  
Articles L. 225-197-1 and  
L. 22-10-59 of the French  
Commercial Code  
Granting of free share awards to the executive company officers  
and free shares held by them  
84, 89, 181-183,  
273, 301, 298  
3, 5, 7, 9  
2. Corporate governance information  
List of all corporate offices and positions held in any company  
by each company officer during the financial year  
Agreements concluded between a senior executive or major  
shareholder and a subsidiary  
Table summarising current delegations of powers granted by  
shareholders at the General Meeting pertaining to capital increases  
Article L. 225-37-4, 1° of the  
French Commercial Code  
Article L. 225-37-4, 2° of the  
French Commercial Code  
Article L. 225-37-4, 3° of the  
French Commercial Code  
60-73  
79 (N/A), 262-263  
273-274  
3
3, 6  
7
Article L. 225-37-4, 4° of the  
French Commercial Code  
Article L. 22-10-10-1° of the  
French Commercial Code  
Article L. 22-10-10-2° of the  
French Commercial Code  
Operating procedures of Executive Management  
Composition and conditions for preparing and organising  
of the work of the Board of Directors  
Application of the principle of balanced gender representation  
on the Board of Directors  
52-53, 281-282  
54-59, 74-80  
56  
3, 8  
3
3
Any limitations that the Board of Directors has placed on the  
powers of the Chief Executive Officer  
Article L. 22-10-10-3° of the  
French Commercial Code  
52-53, 281-282  
3, 8  
314  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
REPORT ON CORPORATE GOVERNANCE  
ITEM  
REFERENCE TEXTS  
PAGES  
CHAPTER  
Reference to a corporate governance code and application  
of the “comply or explain” principle  
Specific procedures relating to the participation of shareholders  
in the General Meeting  
Procedure for the assessment of agreements entered into  
in the ordinary course of business and its implementation  
Article L. 22-10-10-4° of the  
French Commercial Code  
Article L. 22-10-10-5° of the  
French Commercial Code  
Article L. 22-10-10-6° of the  
French Commercial Code  
52, 96  
282-284  
79  
3
8
3
3. Elements likely to have an impact in the event of a tender or exchange offer  
Integrated  
Presentation,  
7
Ownership structure of the Company  
4, 267  
272  
Restrictions in the Articles of Association on the exercise of voting  
rights and on share transfers, or clauses in agreements brought  
to the Company’s attention pursuant to Article L. 233-11  
of the French Commercial Code  
7
Direct or indirect investments in the Company’s share capital  
of which it has knowledge by virtue of Articles L. 233-7  
and L. 233-12 of the French Commercial Code  
List of holders of any shares granting special rights and description  
thereof  
272  
272  
7
7
Agreements between shareholders of which the Company  
has knowledge and that could entail restrictions on share transfers  
and the exercise of voting rights  
272  
7
Rules applicable to the appointment and replacement of members  
of the Board of Directors and to amendments of the Articles  
of Association  
Powers of the Board of Directors, in particular for share issues  
or share buybacks  
272, 269-270  
278-281  
7
9
Agreements entered into by the Company that are amended  
or cease in the event of a change of control of the Company,  
unless this disclosure would seriously undermine its interests,  
except when such disclosure is a legal obligation  
Agreements providing for benefits payable to members of the  
Board of Directors or employees if they resign or are dismissed  
without  
N/A  
N/A  
N/A  
N/A  
valid grounds or if their employment is terminated due to a tender  
or exchange offer  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
315
CROSS-REFERENCE TABLE FOR THE ANNUAL FINANCIAL REPORT  
Cross-reference table for the Annual Financial Report  
ITEM  
REFERENCE TEXTS  
PAGES CHAPTER  
Article L. 451-1-2 of the French  
Monetary and Financial Code,  
Article L. 222-3 of the AMF  
General Regulation  
1. PARENT COMPANY FINANCIAL STATEMENTS  
2. CONSOLIDATED FINANCIAL STATEMENTS  
229-261  
257-228  
6
5
See cross-reference tables  
for the Management Report  
3. MANAGEMENT REPORT  
See cross-reference table for  
the Report on corporate  
governance  
4. REPORT ON CORPORATE GOVERNANCE  
5. DECLARATION BY THE PERSONS RESPONSIBLE FOR  
THE ANNUAL FINANCIAL REPORT  
302  
-
6. STATUTORY AUDITORS’ REPORTS ON THE PARENT  
COMPANY FINANCIAL STATEMENTS AND THE  
CONSOLIDATED FINANCIAL STATEMENTS  
224-228, 258-261  
5, 6  
316  
SOPRA STERIAUNIVERSAL REGISTRATION DOCUMENT 2020  
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For more information:
Société Anonyme with share capital of €20,547,701 - 326 820 065 RCS Annecy
Registered office: PAE les Glaisins - Annecy-le-Vieux — FR 74940 Annecy - France
Head office: 6 Avenue Kleber — FR 75116 Paris - France
Sopra Steria Group
Head office
6 avenue Kleber
FR 75116Paris
Phone: +33(0)1 40 67 29 29
Fax: +33(0)1 40 67 29 30