2007 Reference document (PDF) - Valeo

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3 Consolidated PAGE 84 fi nancial statements at December 31, 2007 Statements of recognized income and expenses Statements of recognized income and expenses (In millions of euros) 2007 2006 2005 Translation adjustment (17) (69) 135 Actuarial gains (losses) on defined benefit plans Cash flow hedges: 79 27 (50) ▪ g ains (losses) taken to equity (12) 7 23 ▪ (g ains) losses transferred to income for the year (6) (19) (8) Net investment hedges ▪ g ains (losses) taken to equity - - (3) Remeasurement of available-for-sale financial assets (5) - - Income taxes on items recognized directly in equity (11) (1) 5 Income and expenses recognized directly in equity 28 (55) 102 Net income for the year 88 166 148 TOTAL RECOGNIZED INCOME AND EXPENSES FOR THE YEAR Of which: 116 111 250 ▪ a ttributable to equity holders of the company 109 109 240 ▪ a ttributable to minority interests 7 2 10 The notes are an integral part of the consolidated financial statements. 2007 Reference document - VALEO < Contents > 1 2 3 4 5 6
Consolidated statement of changes in stockholders’ equity Number of shares (In millions of euros) 82,671,220 Share capital Additional paid-in capital Consolidated fi nancial statements at December 31, 2007 Consolidated statement of changes in stockholders’ equity Translation adjustment Retained earnings Stockholders’ equity Minority interests 2007 Reference document - VALEO 3 Stockholders’ equity including minority i nterests Stockholders’ equity at January 1, 2005 251 1,617 9 (69) 1,808 57 1,865 Dividends - - - (91) (91) (5) (96) 230,100 Treasury stock - - - 8 8 - 8 (6,250,000) Capital reduction (1) (19) (233) - - (252) - (252) 51,333 Share-based payments Income and expenses recognized directly in 1 1 - 7 9 - 9 equity - - 131 (33) 98 4 102 Net income for the year - - - 142 142 6 148 Other movements (2) Stockholders’ equity at - - - (48) (48) (19) (67) 76,702,653 December 31, 2005 233 1,385 140 (84) 1,674 43 1,717 Dividends - - - (84) (84) (4) (88) 121,000 Treasury stock - - - 4 4 - 4 Capital increase - - - - - 1 1 70,260 Share-based payments Income and expenses recognized directly in - 2 - 11 13 - 13 equity - - (66) 14 (52) (3) (55) Net income for the year - - - 161 161 5 166 Other movements Stockholders’ equity at - - - (2) (2) (4) (6) 76,893,913 December 31, 2006 233 1,387 74 20 1,714 38 1,752 Dividends - - - (85) (85) (4) (89) (746,100) Treasury stock - - - (26) (26) - (26) Capital increase - - - - - 3 3 629,000 Share-based payments Income and expenses recognized directly in 2 15 - 10 27 - 27 equity - - (17) 45 28 - 28 Net income for the year - - - 81 81 7 88 Other movements Stockholders’ equity at - - - (1) (1) - (1) 76,776,813 December 31, 2007 235 1,402 57 44 1,738 44 1,782 (1) Capital reduction carried out following the purchase by Valeo of around 7.5% of its own shares, in connection with a public share buyback offer and a simplified public tender offer. (2) This caption includes the impacts of the acquisition of minority interests in Valeo Zexel China Climate Control and Valeo Thermal Systems Japan Corp. The notes are an integral part of the consolidated financial statements. < Contents > PAGE 85 1 2 3 4 5 6
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2007 Reference document
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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
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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
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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
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: Consolidated statements of cash flo
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
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6. Restatement of prior year financ
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Companies Countries % voting rights
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Consolidated fi nancial statements
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valeo added TM < Contents > 4 Corpo
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appointed Gérard Blanc, Pascal Col
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■ to check that internal procedur
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1.10. General Management of the Com
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2. Internal control procedures 2.1.
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2.4. Review of work carried out in
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Composition of the Board of Directo
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Name First appointed Helle Kristoff
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valeo added TM 5 < Contents > Infor
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Auditors Statutory Auditors ■ −
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Martin Haub Vice-President, Product
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Name/business address Jérôme Cont
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Name/business address Georges Pauge
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Jérôme Contamine graduated from
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Under these R ules, independent Dir
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Fixed compensation and benefits-in-
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compensation, 1,905,169 euros to va
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Share grants to the ten employees r
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Information on the Company and its
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2. Authorized, unissued capital Sec
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Exercise date and conditions Nbre d
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1.1. Major shareholders To the best
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the relevant disclosure threshold h
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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
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November 2007 November 9, 2007 - Ex
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Other i nformation Person responsib
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The printer of this report is envir
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