2007 Reference document (PDF) - Valeo

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3 Consolidated PAGE 140 fi nancial statements at December 31, 2007 Notes to consolidated financial statements Companies Countries % voting rights 2007 Reference document - VALEO 2007 2006 2005 % interest % voting rights % interest % voting rights % interest Valeo Materiales de Friccion de Mé xico, SA de CV Mexico 100 100 100 100 100 100 Valeo Sylvania Services S de RL de CV (2) Mexico 50 50 50 50 50 50 SOUTH AMERICA Valeo Sistemas Automotivos Ltda Brazil 100 100 100 100 100 100 Cibie Argentina, SA Argentina 100 100 100 100 100 100 Emelar Sociedad Anó nima Argentina 100 100 100 100 100 100 Valeo Embragues Argentina, SA Argentina 100 100 100 100 100 100 Valeo Té rmico Argentina, SA ASIA Argentina 100 100 100 100 100 100 Valeo Compressor (Thailand) Co. Ltd Thailand 98.5 98.5 98.5 98.5 98.5 98.5 Valeo Compressor Clutch (Thailand) Co. Ltd Thailand 97.3 97.3 97.3 97.3 97.3 97.3 Valeo Siam Thermal Systems Co. Ltd Valeo Thermal Systems Sales (Thaïland) Thailand 74.9 74.9 74.9 74.9 74.9 74.9 Co. Ltd Thailand 74.9 74.9 74.9 74.9 89.9 74.9 Valeo Electrical Systems Korea Ltd South Korea 100 100 100 100 100 100 Valeo Pyeong Hwa Co. Ltd (2) South Korea 50 50 50 50 50 50 Valeo Pyeong Hwa Distribution Co. Ltd (2) South Korea 50 50 50 50 50 50 Valeo Samsung Thermal Systems Co. Ltd (2) South Korea 50 50 50 50 - - Valeo Compressor Korea Co. Ltd South Korea 100 100 100 100 100 100 Dae Myong Precision Corporation South Korea 100 100 100 100 100 100 Valeo Thermal Systems Korea Co. Ltd South Korea 100 100 - - - - Konnou Sangyo Co. Ltd (3) Japan - - - - 100 100 Zexel Logistics Compagny (Butsuryu) (3) Japan - - - - 100 100 Zexel Logitec Company (3) Japan - - - - 100 100 Ichikoh Industries Ltd (1) Japan 31.6 31.6 29.4 29.4 28.2 28.2 Valeo Engine Cooling Japan Co. Ltd Japan 100 100 100 100 100 100 Valeo Unisia Transmissions K K Japan 66 66 66 66 66 66 Valeo Thermal Systems Japan Corporation Valeo Automotive Transmissions Systems Japan 100 100 100 100 100 100 (Nanjing) Co. Ltd China 100 100 100 100 - - Hubei Valeo Autolighting Company Ltd Valeo Automotive Air Conditioning Hubei China 100 100 100 100 75 75 Co. Ltd China 55 55 55 55 55 55 Faw Valeo Climate Control System (1) China 36.5 36.5 36.5 36.5 36.5 36.5 Huada Automotive Air Conditioner Co. Ltd (1) Valeo Lighting Hubei Technical center Co. China 30 30 30 30 30 30 Ltd China 100 100 100 100 100 100 Nanjing Valeo Clutch Co. Ltd (2) China 55 55 55 55 55 55 (1) Company accounted for by the equity method. (2) Company consolidated on a proportional basis. (3) Company sold in 2006. (4) Company sold in 2007. < Contents > 1 2 3 4 5 6
Companies Countries % voting rights Consolidated fi nancial statements at December 31, 2007 Notes to consolidated financial statements 2007 2006 2005 % interest % voting rights % interest % voting rights % interest Shanghai Valeo Automotive Electrical Systems Company Ltd (2) Valeo Shanghai Automotive Electric Motors China 50 50 50 50 50 50 & Wiper Systems Co. Ltd Taizhou-Valeo Wenling Automotive Systems China 55 55 55 55 55 55 Company Ltd Telma Vehicle Braking System (Shanghai) China 100 100 100 100 55 55 Company Ltd Shenzhen Valeo Hangsheng Automotive China 70 70 70 70 70 70 Switches & Detection Systems. Co. Ltd Valeo Automotive Security Systems (Wuxi) China 75 75 75 75 75 75 Co. Ltd Valeo Fawer Compressor (Changchun) China 100 100 100 100 100 100 Co. Ltd (2) China 60 60 60 60 60 60 Guangzhou Valeo Engine Cooling Co. Ltd China 100 100 - - - - Valeo Auto Parts Trading (Shanghai) Co. Ltd China 100 100 - - - - Valeo Management (Beijing) Co. Ltd Foshan Ichikoh Valeo Auto Lighting China 100 100 100 100 - - Systems Co. (2) China 50 50 50 50 - - Valeo Engine Cooling (Shashi) Co. Ltd China 100 100 100 100 - - PT Valeo AC Indonesia (1) Indonesia 49 49 49 49 49 49 Valeo Armco Engine Cooling Co. (2) Valeo Minda Electrical Systems India Private Iran 51 51 51 51 51 51 Limited Minda Valeo Security Systems Private India 66.7 66.7 - - - - Limited (Company) (2) Valeo Engineering Center (India) Private India 50 50 - - - - Limited India 100 100 100 100 - - Amalgamations Valeo Clutch Private Ltd (2) India 50 50 50 50 50 50 Valeo Friction Materials India Limited India 60 60 60 60 60 60 (1) Company accounted for by the equity method. (2) Company consolidated on a proportional basis. (3) Company sold in 2006. (4) Company sold in 2007. < Contents > 2007 Reference document - VALEO 3 PAGE 141 1 2 3 4 5 6
Page 1 and 2:
2007 Reference document
Page 3 and 4:
Group profile 2007 Valeo is an inde
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Gross margin In % of net sales Oper
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Basic earnings per share for the ye
Page 9 and 10:
valeo added TM < Contents > 1 Activ
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1998 ■ Acquisition of the Electri
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The Group 1. Description and organi
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■ ■ ■ ignition components; in
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■ LED front and rear lighting and
Page 19 and 20:
Valeo Climate Control has four prod
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4.1.1.2. Internal mobility and indi
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4.2.2. Environment Environmental pr
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4.3.1. Purchasing The role of Valeo
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4.3.4. Projects The Projects Depart
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Geographical presence The Group opt
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■ In a world first, the Volkswage
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Other contributions from Valeo Prod
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■ ■ The Group also continued to
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valeo added TM Accounting methods 3
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production (source: J.D. Power). In
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Change in stockholders’ equity 1.
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Provisions The balance sheet at Dec
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At the Board of Directors meeting h
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1.2. Environmental risks In the var
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4.3. Credit risk Valeo is exposed t
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Outlook In 2008, Valeo is aiming to
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Valeo addresses these challenges th
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Percentage of ISO 14001 and OHSAS 1
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The 2007 reporting scope excludes s
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The increase in the ratio of energy
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Overall, Valeo used higher tonnages
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All Valeo Group sites will be certi
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2.6. Reducing all types of pollutio
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Social indicators This social indic
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1.2.1. Permanent contracts Number o
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Breakdown of 2007 departures by geo
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3. Equality between men and women i
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Valeo’s “Well-being and effecti
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At December 31, 2007, 11,738 employ
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8. Disabled employees Valeo amended
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valeo added TM 3 < Contents > Conso
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Consolidated statements of income (
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Consolidated statements of cash flo
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Consolidated statement of changes i
Page 89 and 90:
The proportionate consolidation met
Page 91 and 92: 1.11. Property, plant and equipment
Page 93 and 94: ■ OCEANE bonds Bonds convertible
Page 95 and 96: 2. Changes in the scope of consolid
Page 97 and 98: 2.3.3. Balance sheet Consolidated f
Page 99 and 100: 3.3.1. Claims and litigation In the
Page 101 and 102: 3.6.2. Effective tax rate The effec
Page 103 and 104: 4.2. Other intangible assets At Dec
Page 105 and 106: Changes in property, plant and equi
Page 107 and 108: Summarized financial data in respec
Page 109 and 110: 4.8. Stockholders’ equity 4.8.1.
Page 111 and 112: 2006 Consolidated fi nancial statem
Page 113 and 114: 4.8.7. Minority interests Changes i
Page 115 and 116: ■ Breakdown of obligations At Dec
Page 117 and 118: (In millions of euros) France Other
Page 119 and 120: Consolidated fi nancial statements
Page 121 and 122: 4.10.3. Short-term debt At December
Page 123 and 124: 5. Additional disclosures 5.1. Segm
Page 125 and 126: 5.2. Financial instruments 5.2.1. F
Page 127 and 128: 5.2.2. Fair value of derivatives At
Page 131 and 132: At December 31, 2006 (In millions o
Page 135 and 136: 5.6. Contingent liabilities The Gro
Page 137 and 138: 6. Restatement of prior year financ
Page 139 and 140: Companies Countries % voting rights
Page 141: Companies Countries % voting rights
Page 147 and 148: valeo added TM < Contents > 4 Corpo
Page 149 and 150: appointed Gérard Blanc, Pascal Col
Page 151 and 152: ■ to check that internal procedur
Page 153 and 154: 1.10. General Management of the Com
Page 155 and 156: 2. Internal control procedures 2.1.
Page 157 and 158: 2.4. Review of work carried out in
Page 159 and 160: Composition of the Board of Directo
Page 161 and 162: Name First appointed Helle Kristoff
Page 163 and 164: valeo added TM 5 < Contents > Infor
Page 165 and 166: Auditors Statutory Auditors ■ −
Page 167 and 168: Martin Haub Vice-President, Product
Page 169 and 170: Name/business address Jérôme Cont
Page 171 and 172: Name/business address Georges Pauge
Page 173 and 174: Jérôme Contamine graduated from
Page 175 and 176: Under these R ules, independent Dir
Page 177 and 178: Fixed compensation and benefits-in-
Page 179 and 180: compensation, 1,905,169 euros to va
Page 181 and 182: Share grants to the ten employees r
Page 183 and 184: Information on the Company and its
Page 185 and 186: 2. Authorized, unissued capital Sec
Page 187 and 188: Exercise date and conditions Nbre d
Page 189 and 190: 1.1. Major shareholders To the best
Page 191 and 192: the relevant disclosure threshold h
Page 193 and 194:
2. Dividends Dividends per share ov
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3. Ownership structure Primarily on
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8. Monthly trading volumes Informat
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Information on the Company and its
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valeo added TM 6 < Contents > Other
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Annual information document Other i
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Other i nformation Annual informati
Page 207 and 208:
November 2007 November 9, 2007 - Ex
Page 209 and 210:
Other i nformation Person responsib
Page 211 and 212:
The printer of this report is envir
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