2007 Reference document (PDF) - Valeo

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1 Activity Recent events and outlook PAGE 34 ■ ■ ■ On April 3, 2008, Valeo announced a project to sell its heavy duty truck engine cooling division to the company EQT. The division generated sales of 176 million euros in 2007. This project aims to focus the Group’s engine cooling activity on passenger cars and light trucks. The project is subject to consultation of the employee representative committees. Renault awarded the Group the 2007 Supplier Quality prize for the excellent quality of engine cooling products from its European Division. In addition to the quality of the parts supplied, the prize also testified to Valeo’s responsiveness and performance in terms of customer satisfaction. Valeo announced that it received an Excellent Quality Performance Award from the Toyota Group at the 2008 Toyota Global Suppliers 2007 Reference document - VALEO ■ ■ < Contents > Convention held on February 29 in Nagoya, Japan. At the end of 2007, the Group reached the historically low level in customer line returns (10 defective parts per million). On April 11, 2008, Valeo was awarded the 2008 Genius Safety Award which recognizes innovations which contribute to a safer automotive environment by German insurance company Allianz awarded to for its Park4U system. This system was also awarded the prestigious automotive industry 2008 PACE Award, after the blind spot detection system in 2007, the StARS micro-hybrid system in 2006 and the LaneVue system in 2005. The Group’s first quarter 2008 results were disclosed in a press release on April 24, 2008. See page 200 . 1 2 3 4 5 6
valeo added TM Accounting methods 36 Statement of income 36 Main investments over the past three years 38 Change in stockholders’ equity 39 Provisions 41 Cash flows and debt 41 Commitments 42 Remuneration of corporate officers and directors 42 < Contents > 2 Management Report Risks and uncertainties 44 Information likely to be impacted by a public tender offer 47 Claims and litigation 48 Outlook 49 Subsequent events 49 Parent company financial statements 49 Environmental management and performance 50 Social indicators 65 2007 Reference document - VALEO PAGE 35 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: ■ ■ The Group also continued to
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 129 and 130:
Page 131 and 132:
At December 31, 2006 (In millions o
Page 133 and 134:
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 and 142:
Page 143 and 144:
Page 145 and 146:
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
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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
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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
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Name/business address Georges Pauge
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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
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