Financial Report and Registration Document 2010 - Groupe Seb

More documents

Recommendations

Info

3 NOTES CONSOLIDATED FINANCIAL STATEMENTS TO THE CONSOLIDATED FINANCIAL STATEMENTS 22.5. MOVEMENTS IN PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS 2010 PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS (in € millions) France Other countries Total PROJECTED BENEFIT OBLIGATION AT 1 JANUARY 2010 68.7 76.7 145.4 Service cost 4.2 1.5 5.7 Interest cost 3.5 3.5 7.0 Benefits paid (4.5) (5.1) (9.6) Plan amendments 2.2 0.1 2.3 Changes in assumptions 8.9 6.3 15.2 Curtailments/settlements Actuarial gains and losses and other (0.4) 4.8 4.4 PROJECTED BENEFIT OBLIGATION AT 31 DECEMBER 2010 82.6 87.8 170.4 2009 PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS (in € millions) France Other countries Total PROJECTED BENEFIT OBLIGATION AT 1 JANUARY 2009 67.7 71.4 139.1 Service cost 3.6 1.4 5.0 Interest cost 3.6 3.6 7.2 Benefits paid (10.0) (4.7) (14.7) Plan amendments 0.5 0.1 0.6 Changes in assumptions 4.8 4.6 9.4 Curtailments/settlements (0.2) (0.2) Actuarial gains and losses and other (1.5) 0.5 (1.0) PROJECTED BENEFIT OBLIGATION AT 31 DECEMBER 2009 68.7 76.7 145.4 2008 PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS (in € millions) France Other countries Total PROJECTED BENEFIT OBLIGATION AT 1 JANUARY 2008 66.8 73.2 140.0 Service cost 3.7 1.6 5.3 Interest cost 3.2 3.9 7.1 Benefits paid (6.4) (5.3) (11.7) Plan amendments Changes in assumptions (2.3) (2.3) Curtailments/settlements Actuarial gains and losses and other 2.7 (2.0) 0.7 PROJECTED BENEFIT OBLIGATION AT 31 DECEMBER 2008 67.7 71.4 139.1 98 FINANCIAL REPORT AND REGISTRATION DOCUMENT 2010 GROUPE SEB
3 CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 22.6. ANALYSIS OF PLAN ASSETS CHANGE IN PLAN ASSETS IN 2010 (in € millions) France Other countries Total PLAN ASSETS AT 1 JANUARY 2010 26.2 13.1 39.3 Expected return on plan assets 3.1 0.5 3.6 Contributions paid 3.5 1.3 4.8 Benefits paid (0.3) (0.3) Actuarial gains and losses and other 1.7 1.7 PLAN ASSETS AT 31 DECEMBER 2010 32.8 16.3 49.1 CHANGE IN PLAN ASSETS IN 2009 (in € millions) France Other countries Total PLAN ASSETS AT 1 JANUARY 2009 24.4 11.4 35.8 Expected return on plan assets 3.3 0.6 3.9 Contributions paid 4.0 1.4 5.4 Benefits paid (5.5) (0.3) (5.8) Actuarial gains and losses and other PLAN ASSETS AT 31 DECEMBER 2009 26.2 13.1 39.3 CHANGE IN PLAN ASSETS IN 2008 (in € millions) France Other countries Total PLAN ASSETS AT 1 JANUARY 2008 27.3 12.6 39.9 Expected return on plan assets (4.7) 0.5 (4.2) Contributions paid 6.2 1.6 7.8 Benefits paid (4.4) (0.3) (4.7) Actuarial gains and losses and other (3.0) (3.0) PLAN ASSETS AT 31 DECEMBER 2008 24.4 11.4 35.8 3 Plan assets in France are managed by an insurance company and are invested as follows: approximately 15% in the general assets of the insurance company, primarily composed of government bonds, corporate bonds mostly rated AAA or AA, shares in international blue-chip companies (managed directly) and high-yield office property; approximately 50% in corporate bond funds; the balance in equity funds. The actual return on plan assets for 2010 should be in line with the expected rate of 4%. Actuarial gains and losses generated in 2011 are not expected to be material. Plan assets in other countries primarily comprise funds invested with an insurer amounting to €11.6 million, relating to the obligations of Groupe SEB Nederland. 22.7. EARLY RETIREMENT SCHEMES As part of the employee support measures implemented in connection with the industrial reorganisation carried out in France (see Note 6), in mid-2006 Groupe SEB offered eligible employees the possibility of early retirement. The programme was in addition to the early retirement scheme for workers exposed to asbestos at the Fresnay site, which formed part of the assets acquired from Moulinex S.A. in 2001. A total of 149 employees benefited from the “asbestos scheme” as of 31 December 2010. A provision was recorded at 31 December 2006 to cover the Group’s obligations under the programme, discounted at a rate of 3.75% as the amounts will be paid out in the medium term. At 31 December 2010, the provision amounted to €9.6 million, versus €11.1 million at 31 December 2009 and €14.5 million at 31 December 2008 (see Note 21.3). GROUPE SEB FINANCIAL REPORT AND REGISTRATION DOCUMENT 2010 99
Page 1 and 2:
FINANCIAL REPORT AND REGISTRATION D
Page 3 and 4:
GROUP PROFILE AND KEY FIGURES 2010
Page 5 and 6:
GROUPE SEB IN 2010 1 GROUPE SEB IN
Page 7 and 8:
1 GROUPE SEB IN 2010 MILESTONES IN
Page 9 and 10:
1 GROUPE SEB IN 2010 BUSINESS SECTO
Page 11 and 12:
1 GROUPE SEB IN 2010 INDUSTRIAL STR
Page 13 and 14:
1 GROUPE SEB IN 2010 MANAGEMENT REP
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
1 GROUPE SEB IN 2010 RISK MANAGEMEN
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
1 GROUPE SEB IN 2010 SOCIAL PERFORM
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
1 GROUPE SEB IN 2010 ENVIRONMENT PE
Page 37 and 38:
CORPORATE GOVERNANCE 2 CORPORATE GO
Page 39 and 40:
2 CORPORATE GOVERNANCE BOARD OF DIR
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
2 CORPORATE GOVERNANCE ORGANIZATION
Page 47 and 48:
2 CORPORATE GOVERNANCE GROUP MANAGE
Page 49 and 50: 2 CORPORATE GOVERNANCE GROUP MANAGE
Page 51 and 52: 2 CORPORATE GOVERNANCE GROUP MANAGE
Page 53 and 54: 2 CORPORATE GOVERNANCE CHAIRMAN’S
Page 59 and 60: 2 CORPORATE GOVERNANCE STATUTORY AU
Page 61 and 62: CONSOLIDATED FINANCIAL STATEMENTS 3
Page 63 and 64: 3 CONSOLIDATED FINANCIAL STATEMENTS
Page 99: 3 CONSOLIDATED FINANCIAL STATEMENTS
Page 119 and 120: COMPANY FINANCIAL STATEMENTS 4 COMP
Page 121 and 122: 4 COMPANY FINANCIAL STATEMENTS BALA
Page 123 and 124: 4 COMPANY FINANCIAL STATEMENTS REPO
Page 125 and 126: 4 COMPANY FINANCIAL STATEMENTS NOTE
Page 135 and 136: 4 COMPANY FINANCIAL STATEMENTS AUDI
Page 137 and 138: ANNUAL GENERAL MEETING 5 ANNUAL GEN
Page 139 and 140: 5 ANNUAL GENERAL MEETING REPORT OF
Page 141 and 142: 5 ANNUAL GENERAL MEETING AUDITORS
Page 143 and 144: 5 ANNUAL GENERAL MEETING PROPOSED R
Page 149 and 150: ADDITIONAL INFORMATION 6 ADDITIONAL
Page 151 and 152:
6 ADDITIONAL INFORMATION GENERAL IN
Page 153 and 154:
6 ADDITIONAL INFORMATION SHARE CAPI
Page 155 and 156:
6 ADDITIONAL INFORMATION SHARE CAPI
Page 157 and 158:
6 ADDITIONAL INFORMATION FINANCIAL
Page 159 and 160:
6 ADDITIONAL INFORMATION EMPLOYEE S
Page 161 and 162:
6 ADDITIONAL INFORMATION EMPLOYEE S
Page 163 and 164:
6 ADDITIONAL INFORMATION STOCK MARK
Page 165 and 166:
NOTES GROUPE SEB FINANCIAL REPORT A
Page 167 and 168:
FINANCIAL AGENDA 2011 26 APRIL AFTE
show all

Financial Report and Registration Document 2010 - Groupe Seb

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

Delete template?

Save as template?