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B U S I N E S S A N D S U S T A I N A B L E D E V E L O P M E N T R E P O R T 2010 FINANCIAL OVERVIEW CONSOLIDATED INCOME STATEMENT Years ended 31 December (in € millions) 2010 2009 2008 Revenue 3,651.8 3,176.3 3,230.2 Operating expenses (3,213.9) (2,820.9) (2,888.5) OPERATING MARGIN 437.9 355.4 341.7 Discretionary and non-discretionary profit-sharing (50.4) (33.5) (38.2) RECURRING OPERATING PROfIT 387.6 321.9 303.5 Other operating income and expense (38.5) (73.8) (24.3) OPERATING PROfIT 349.0 248.1 279.2 Finance costs (12.0) (22.6) (37.9) Other financial income and expense (3.9) (4.6) (10.7) Share of profits/(losses) of associates 0.0 0.0 (1.3) PROfIT BEfORE TAX 333.1 220.9 229.3 Income tax expense (89.5) (58.1) (66.5) PROfIT fOR THE PERIOD 243.6 162.8 162.8 Non-controlling interests (23.2) (16.8) (11.2) PROfIT ATTRIBUTABLE TO OWNERS Of THE PARENT 220.4 146.0 151.6 CONSOLIDATED BALANCE SHEET ASSETS (in € millions) 2010 2009 2008 NON-CURRENT ASSETS 1,289.7 1,201.0 1,232.0 Inventories 635.5 466.3 614.6 Trade receivables 733.9 627.1 645.6 Other receivables 59.4 48.1 54.9 Current tax assets 26.8 15.1 38.8 Current derivative instruments - assets 14.1 5.2 11.7 Cash and cash equivalents 236.6 307.8 224.6 CURRENT ASSETS 1,706.3 1,469.6 1,590.1 TOTAL ASSETS 2,996.0 2,670.6 2,822.1 EQUITY AND LIABILITIES (in € millions) 2010 2009 2008 Equity attributable to owners of the parent 1,398.2 1,081.3 905.9 Non-controlling interests 173.1 138.8 131.6 EQUITY 1,571.3 1,220.1 1,037.5 Long-term borrowings 201.8 301.1 213.5 Other non-current liabilities 198.9 193.0 233.5 Non-current liabilities 400.7 494.1 447.0 Trade payables 494.4 398.0 366.3 Other current liabilities 359.5 311.7 309.8 Short-term borrowings 170.1 246.7 661.5 CURRENT LIABILITIES 1,024.0 956.4 1,337.6 TOTAL EQUITY AND LIABILITIES 2,996.0 2,670.6 2,822.1
G R O U P E S E B I N F I G U R E S 14-15 REVENUE BREAKDOWN CLIENTS: €3,651.8 M • Western Europe: 41% (of which France: 19%) • North America: 11% • South America: 9.5% • Asia-Pacic: 21% • Central Europe, CIS and other countries: 17.5% Sourced products represent almost 30% of sales SUPPLIERS: €2,501.4 M 1,202 industrial suppliers*, including a panel of 375 suppliers representing more than 87% of these purchases STATE AND LOCAL AUTHORITIES: €140.9 M • Corporation tax: €89.5 M • Local taxes: €51.4 M SHAREHOLDERS: €55.9 M paid in 2010 in respect of the 2009 trading year RESERVED fUNDS: €289.8 M • Renancing of investments: €118.3 M • Variations of provisions linked to business risks: €-16.2 M • Transferred to reserves: €187.7 M EMPLOYEES: €647.8 M Paid to 23,058 employees • 74% total salary • 26% social charges • Bonus and prot sharing: €47.5 M to be paid in 2011 (not including €1.3 M in taxes paid to the State) BANKS AND BONDHOLDERS:: €16.0 M Mainly nancial charges linked to interest on bank loans * Suppliers, Production and Sourced Products Data excluding Supor.
Page 1 and 2: BEYOND LIMITS B U S I N E S S A N D
Page 3 and 4: B U S I N E S S A N D S U S T A I N
Page 5 and 6: 1 Chairman’s message A BUSINESS M
Page 7 and 8: C H A I R M A N ’ S M E S S A G E
Page 9 and 10: G O V E R N A N C E 04 - 05 ACTIVE
Page 11 and 12: G O V E R N A N C E 06 - 07 THE GRO
Page 13 and 14: G R O U P E S E B I N F I G U R E S
Page 17: G R O U P E S E B I N F I G U R E S
Page 25 and 26: TRANSfORMATION G R O U P E S E B I
Page 27 and 28: O P E R A T I O N S 22-23
Page 29 and 30: O P E R A T I O N S 24-25 T R E N D
Page 31 and 32: O P E R A T I O N S 26-27 B R A N D
Page 33 and 34: O P E R A T I O N S 28-29 20 EMBLEM
Page 39 and 40: O P E R A T I O N S 34-35 THERMO-SP
Page 43 and 44: O P E R A T I O N S 38-39 PRESENT I
Page 45 and 46: O P E R A T I O N S 40-41 I N T E R
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Page 57 and 58: E X P E R T I S E 52-53 WORKING IN
Page 59 and 60: E X P E R T I S E 54-55 OUTSOURCING
Page 61 and 62: E X P E R T I S E 56-57 O P E R AT
Page 63 and 64: E X P E R T I S E 58-59 O P E R AT
Page 65 and 66: E X P E R T I S E 60-61 H U M A N R
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E X P E R T I S E 64-65 H U M A N R
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S U S T A I N A B L E D E V E L O P
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E X P E R T I S E 70-71 E T H I C S
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ACKNOWLEDGMENTS This document was p
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