ANNUAL REPORT 2011 REGISTRATION DOCUMENT - Saft

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6 Notes 2011 CONSOLIDATED FINANCIAL STATEMENTS to the Consolidated Financial Statements NOTE 7 INTANGIBLE ASSETS The table below shows movements in the carrying amount of intangible assets: (in € million) Software Brand names 154 / SAFT - ANNUAL REPORT 2011 Development costs Other intangible assets Total Carrying amount at 01/01/2009 0.1 125.8 21.9 88.2 236.0 Acquisitions 0.2 0.0 3.9 0.7 4.8 Disposals 0.0 0.0 0.0 0.0 0.0 Amortisation (0.1) 0.0 (2.9) (9.0) (12.0) Translation adjustment 0.0 0.0 (0.2) 0.0 (0.2) Transfers 0.0 0.0 0.0 0.0 0.0 Impairment 0.0 0.0 (0.4) 0.0 (0.4) Carrying amount at 31/12/2009 At 31/12/2009 0.2 125.8 22.3 79.9 228.2 Gross value 3.6 125.8 31.8 135.1 296.3 Accumulated amortisation (3.4) 0.0 (9.5) (55.2) (68.1) Carrying amount 0.2 125.8 22.3 79.9 228.2 Carrying amount at 01/01/2010 0.2 125.8 22.3 79.9 228.2 Acquisitions 0.3 0.0 5.8 0.6 6.7 Disposals 0.0 0.0 0.0 0.0 0.0 Amortisation (0.3) 0.0 (4.7) (8.8) (13.8) Translation adjustment 0.0 0.0 1.0 0.0 1.0 Transfers 0.3 0.0 0.0 (0.2) 0.1 Impairment 0.0 0.0 0.0 0.0 0.0 Carrying amount at 31/12/2010 At 31/12/2010 0.5 125.8 24.4 71.5 222.2 Gross value 4.3 125.8 33.1 135.4 298.6 Accumulated amortisation (3.8) 0.0 (8.7) (63.9) (76.4) Carrying amount 0.5 125.8 24.4 71.5 222.2 Carrying amount at 01/01/2011 0.5 125.8 24.4 71.5 222.2 Acquisitions 0.9 0.0 8.0 0.2 9.1 Disposals 0.0 0.0 0.0 0.0 0.0 Amortisation (0.7) 0.0 (3.4) (9.0) (13.1) Translation adjustment 0.0 0.0 0.2 0.1 0.3 Transfers 0.1 0.0 0.0 (0.1) 0.0 Impairment 0.0 0.0 (0.4) 0.0 (0.4) Carrying amount at 31/12/2011 At 31/12/2011 0.8 125.8 28.8 62.7 218.1 Gross value 5.4 125.8 38.7 135.2 305.1 Accumulated amortisation (4.6) 0.0 (9.9) (72.5) (87.0) CARRYING AMOUNT 0.8 125.8 28.8 62.7 218.1 Other intangible assets mainly include technologies and customer relationships recorded in 2004 when the Doughty Hanson Funds acquired the Alcatel Group’s battery activities.
NOTE 8 GOODWILL 6 2011 CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements Main goodwill dates from January 2004, when the Alcatel Group sold its battery activities to the Doughty Hanson Funds. The acquisition price paid by the Doughty Hanson Funds for the operating entities of the Group was allocated in part to the assets and liabilities transferred, measured at 14 January 2004 at fair value based on an independent expert’s valuation. This re-measurement compared with the carrying amounts in the consolidated balance sheet of the year ended 31 December 2004 related to: � intangible assets for €201 million. Intangible assets, primarily consisting of brand names, Research and The table below shows movements in goodwill: Development projects and customer relationships by product line; � property, plant and equipment for €24 million. The estimated useful lives of these assets were also reviewed. The residual unallocated acquisition value, amounting to €117.1 million, was recognised as goodwill. (in € million) 2011 2010 2009 Carrying amount at 1st January 110.3 104.8 107.3 Newly consolidated/deconsolidated entities 0.0 0.0 0.0 Impairment 0.0 0.0 0.0 Translation adjustment 2.4 5.5 (2.5) Carrying amount at 31 December 112.7 110.3 104.8 Goodwill is allocated to the Cash Generating Unit to which it relates. It should be noted in this regard that the merger as of 1 July 2009 between the IBG and RBS divisions had no impact on allocation of the Group’s goodwill. Goodwill per CGU and geographic segment breaks down as follows: AT 31/12/2011 (in € million) IBG SBG Total Europe 20.2 14.7 34.9 North America 44.6 32.5 77.1 Asia/Oceania 0.7 0.0 0.7 TOTAL 65.5 47.2 112.7 AT 31/12/2010 (in € million) IBG SBG Total Europe 20.2 14.7 34.9 North America 43.2 31.4 74.6 Asia/Oceania 0.8 0.0 0.8 TOTAL 64.2 46.1 110.3 SAFT - ANNUAL REPORT 2011 / 155
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THE FUTURE COMES FROM EXPERIENCE AN
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5 COMMENTS ON THE 2011 FINANCIAL YE
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19 SITES WORLDWIDE 16 MANUFACTURING
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FRANçOIS LINCk MARkETING MANAGER N
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What vision for lithium-ion? ANNE D
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What vision for renewable energy st
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What vision for the environment? CL
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OVERVIEW 2011 MESSAGE FROM THE CHAI
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“I am convinced the company’s p
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Limassol Moscow Port Washington Val
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JUNE ENERGY STORAGE FOR SEPTA The S
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EBITDA (in e million) 110.0 406.6 1
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35 30 25 20 STOCk MARkET INFORMATIO
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MANAGEMENT COMMITTEE Saft’s Manag
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ACTIVITIES INDUSTRIAL BATTERY GROUP
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ACTIVITIES INDUSTRIAL BATTERY GROUP
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“The role of batteries for teleco
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Saft launched the SRM+ compact solu
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ACTIVITIES SPECIALTY BATTERY GROUP
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“The company is strongly penetrat
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THE EXPERT EXPLAINS Each battery sy
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COMMITMENTS RESEARCH & DEVELOPMENT
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INNOVATION & COMMITMENTS RESEARCH &
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This is a very important next step
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INNOVATION & COMMITMENTS SUSTAINABL
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kEY EVENT Saft policy is to fully c
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FINANCIAL REPORT RISK FACTORS 53 SU
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RISK FACTORS 2.1 Risks related to t
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technologies, while maintaining a f
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of expertise and affect the Group
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2.5 MARKET RISKS 2.5.1 RAW MATERIAL
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RISK FACTORS 2 Risks related to the
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2.8 INSURANCE The Group has a polic
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SUSTAINABLE DEVELOPMENT 3 3.1 Envir
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3.1 ENVIRONMENTAL RESPONSIBILITY Fo
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Type and amount of waste generated
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3.1.10 RESOURCE CONSERVATION Sustai
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3.2.3 HUMAN RESOURCE MANAGEMENT The
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3.3 CORPORATE SOCIAL RESPONSIBILITY
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III. CONCLUSION Moderate assurance
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CORPORATE GOVERNANCE 4 4.1 Manageme
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A short presentation of each Manage
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You will fi nd hereafter a short re
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The members of the Committees are:
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CORPORATE GOVERNANCE 4 Remuneration
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No stock options were awarded to em
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During the 2011 fi nancial year, th
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In the course of its meetings, the
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The Chairman of the Management Boar
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The control environment is subject
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Page 107 and 108: Other information 4 CORPORATE GOVER
Page 109 and 110: 4.5.2 DUTIES AND RESPONSIBILITIES O
Page 111 and 112: COMMENTS ON THE 2011 FINANCIAL YEAR
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Page 117 and 118: 5.2.4 OTHER ACTIVITIES 5 COMMENTS O
Page 125 and 126: 2011 CONSOLIDATED FINANCIAL STATEME
Page 127 and 128: LIABILITIES 6 2011 CONSOLIDATED FIN
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Page 145 and 146: Risk management 6 2011 CONSOLIDATED
Page 153 and 154: Balance sheet by business segment A
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Page 165 and 166: 17.2 PUBLIC GRANTS RELATED TO RESUL
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Page 185 and 186: 6 Statutory 2011 CONSOLIDATED FINAN
Page 187 and 188: 7 Balance PARENT COMPANY CERTIFIED
Page 189 and 190: 7 PARENT COMPANY CERTIFIED FINANCIA
Page 197 and 198: INFORMATION ABOUT THE COMPANY AND I
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8 INFORMATION ABOUT THE COMPANY AND
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ANNUAL GENERAL MEETING 9.1 Overview
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ANNUAL GENERAL MEETING 9 Statutory
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3. Services Agreement Type of agree
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ADDITIONAL INFORMATION 10 10.1 Docu
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ADDITIONAL INFORMATION10 Offi cers
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ADDITIONAL INFORMATION10 registrati
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ADDITIONAL INFORMATION10 Annual fi
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ADDITIONAL INFORMATION10 Cross-refe
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The information contained in the ma
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