WAVESTONE: 2020/21 annual results: EBIT margin solid at 12.8% and strong cash flow generation At its meeting of June 1, 2021, Wavestone's Supervisory Board approved the consolidated annual accounts as at March 31, 2021, which are summarized below. Auditing of the accounts is complete and the auditors are in the process of issuing their report. Consolidated audited data at 3/31 (in €m) 2020/21 Operating income Income tax expenses Net margin A strong end-of-year position for 2020/21: decline in annual revenue limited to -1% At the end of the 2020/21 fiscal year, Wavestone's consolidated revenue stood at €417.6m. Buoyed by a progressive improvement in business activity in H2, the company recorded a limited decline in annual revenue of -1% (identical decline at constant scope and exchange rates). This trend demonstrates the firm's solid outperformance of the market, in a consulting sector where revenue fell by about 13% worldwide over 2020 (source: Source Global Research), and by 11% in France (source: Syntec Conseil).