2007 Reference document (PDF) - Valeo

More documents

Recommendations

Info

4 Corporate PAGE 160 Governance Statutory Auditors’ report on the report of the Chairman of the Board of Directors Year ended December 31, 2007 This is a free translation into English of the Statutory Auditors’ report issued in the French language and is provided solely for the convenience of English speaking readers. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France. In our capacity as Statutory Auditors of Valeo, and in accordance with article L. 225-235 of the French Commercial Code, we hereby report to you on the report prepared by the Chairman of your Company in accordance with article L. 225-37 of the French Commercial Code for the year ended December 31, 2007. It is for the Chairman to give an account, in his report, notably of the conditions in which the duties of the Board of Directors are prepared and organized and of the internal control procedures in place within the Company. It is our responsibility to report to you our observations on the information set out in the Chairman’s report on the internal control procedures relating to the preparation and processing of financial and accounting information. We performed our procedures in accordance with professional standards applicable in France. These standards require us to perform procedures to assess the fairness of the information set out in the Chairman’s report on the internal control procedures relating to the preparation and processing of financial and accounting information. The procedures we performed notably consisted of: ■ obtaining an understanding of the internal control procedures relating to the preparation and processing of the financial and accounting information supporting the information set out in the Chairman’s report as well as the existing documentation; ■ obtaining an understanding of the work performed to support the information given in the report, as well as of the existing documentation; ■ determining if the material internal control weaknesses relating to the preparation and processing of the financial and accounting information that we may have identified in the course of our audit are properly described in the Chairman’s report. On the basis of these procedures, we have no matters to report in connection with the information given on the internal control procedures relating to the preparation and processing of financial and accounting information, contained in the report of the Chairman of the Board of Directors, prepared in accordance with article L. 225-37 of the French Commercial Code. Paris and Neuilly-sur-Seine, February 12, 2008 Salustro Reydel Member of KPMG International 2007 Reference document - VALEO The Statutory Auditors PricewaterhouseCoopers Audit < Contents > Statutory Auditors’ report on the report of the Chairman of the Board of Directors on internal control procedures relating to the preparation and processing of financial and accounting information Jean-Pierre Crouzet Emmanuel Paret Serge Villepelet Jean-Christophe Georghiou 1 2 3 4 5 6
valeo added TM 5 < Contents > Information on the Company and its capital General information about the issuer 162 Fees paid by the Group to the Auditors and members of their networks 181 General information about the Company’s capital 182 Current ownership structure 186 Market for the Company’s securities 190 Investor relations 192 Information on subsidiaries and affiliates 195 2007 Reference document - VALEO PAGE 161 1 2 3 4 5 6
Page 1 and 2:
2007 Reference document
Page 3 and 4:
Group profile 2007 Valeo is an inde
Page 5 and 6:
Gross margin In % of net sales Oper
Page 7 and 8:
Basic earnings per share for the ye
Page 9 and 10:
valeo added TM < Contents > 1 Activ
Page 11 and 12:
1998 ■ Acquisition of the Electri
Page 13 and 14:
The Group 1. Description and organi
Page 15 and 16:
■ ■ ■ ignition components; in
Page 17 and 18:
■ LED front and rear lighting and
Page 19 and 20:
Valeo Climate Control has four prod
Page 21 and 22:
4.1.1.2. Internal mobility and indi
Page 23 and 24:
4.2.2. Environment Environmental pr
Page 25 and 26:
4.3.1. Purchasing The role of Valeo
Page 27 and 28:
4.3.4. Projects The Projects Depart
Page 29 and 30:
Geographical presence The Group opt
Page 31 and 32:
■ In a world first, the Volkswage
Page 33 and 34:
Other contributions from Valeo Prod
Page 35 and 36:
■ ■ The Group also continued to
Page 37 and 38:
valeo added TM Accounting methods 3
Page 39 and 40:
production (source: J.D. Power). In
Page 41 and 42:
Change in stockholders’ equity 1.
Page 43 and 44:
Provisions The balance sheet at Dec
Page 45 and 46:
At the Board of Directors meeting h
Page 47 and 48:
1.2. Environmental risks In the var
Page 49 and 50:
4.3. Credit risk Valeo is exposed t
Page 51 and 52:
Outlook In 2008, Valeo is aiming to
Page 53 and 54:
Valeo addresses these challenges th
Page 55 and 56:
Percentage of ISO 14001 and OHSAS 1
Page 57 and 58:
The 2007 reporting scope excludes s
Page 59 and 60:
The increase in the ratio of energy
Page 61 and 62:
Overall, Valeo used higher tonnages
Page 63 and 64:
All Valeo Group sites will be certi
Page 65 and 66:
2.6. Reducing all types of pollutio
Page 67 and 68:
Social indicators This social indic
Page 69 and 70:
1.2.1. Permanent contracts Number o
Page 71 and 72:
Breakdown of 2007 departures by geo
Page 73 and 74:
3. Equality between men and women i
Page 75 and 76:
Valeo’s “Well-being and effecti
Page 77 and 78:
At December 31, 2007, 11,738 employ
Page 79 and 80:
8. Disabled employees Valeo amended
Page 81 and 82:
valeo added TM 3 < Contents > Conso
Page 83 and 84:
Consolidated statements of income (
Page 85 and 86:
Consolidated statements of cash flo
Page 87 and 88:
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 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: Name First appointed Helle Kristoff
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
Page 195 and 196: 3. Ownership structure Primarily on
Page 197 and 198: 8. Monthly trading volumes Informat
Page 199 and 200: Information on the Company and its
Page 201 and 202: valeo added TM 6 < Contents > Other
Page 203 and 204: Annual information document Other i
Page 205 and 206: 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
show all

2007 Reference document (PDF) - Valeo

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?