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ANNUAL REPORT 2011 REGISTRATION DOCUMENT - Saft

ANNUAL REPORT 2011 REGISTRATION DOCUMENT - Saft

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FINANCIAL<br />

<strong>REPORT</strong><br />

RISK FACTORS 53<br />

SUSTAINABLE DEVELOPMENT 65<br />

CORPORATE GOVERNANCE 79<br />

COMMENTS ON THE <strong>2011</strong> FINANCIAL YEAR 109<br />

<strong>2011</strong> CONSOLIDATED FINANCIAL STATEMENTS 123<br />

PARENT COMPANY CERTIFIED FINANCIAL STATEMENTS 183<br />

INFORMATION ABOUT THE COMPANY AND ITS SHARE CAPITAL 195<br />

<strong>ANNUAL</strong> GENERAL MEETING 207<br />

ADDITIONAL INFORMATION 213<br />

SAFT - <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2011</strong> / 51

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