Financial Report and Registration Document 2010 - Groupe Seb

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4 NOTES COMPANY FINANCIAL STATEMENTS TO THE COMPANY FINANCIAL STATEMENTS NOTE 17 EQUITY Share capital At 31 December 2010, the share capital amounted to €50 million made up of 49,951,826 shares with a par value of €1.00, representing 73,718,840 voting rights (excluding own shares). Changes in shareholders’ equity (in € millions) SHAREHOLDERS’ EQUITY AT 31 DECEMBER 2009 BEFORE APPROPRIATION OF PROFIT 825.2 2009 dividend paid in 2010 (51.2) Net profit for the year 45.7 Changes in share capital – shares issued on exercise of stock options and share cancellations 0 Corresponding issue premium 0 SHAREHOLDERS’ EQUITY AT 31 DECEMBER 2010 819.7 SHAREHOLDERS’ EQUITY AT 31 DECEMBER 2008 BEFORE APPROPRIATION OF PROFIT 815.0 2008 dividend paid in 2009 (45.4) Net profit for the year 74.1 Changes in share capital – shares issued on exercise of stock options and share cancellations (1.0) Corresponding issue premium (17.5) SHAREHOLDERS’ EQUITY AT 31 DECEMBER 2009 825.2 Potential ordinary shares at 31 December 2010 There are no convertible bonds or equity notes outstanding or securities not representing capital. NOTE 18 EMPLOYEES The Company had one employee in 2010 and 2009. NOTE 19 SUBSEQUENT EVENTS The unused €456.1 million syndicated loan due in 2011 was renegotiated with the banking pool, which comprises BNP Paribas, Citibank, Commerzbank, Crédit Agricole, HSBC, Natixis and Société Générale. The new loan has a nominal amount of €560 million and a five-year term. 132 FINANCIAL REPORT AND REGISTRATION DOCUMENT 2010 GROUPE SEB
4 COMPANY FINANCIAL STATEMENTS AUDITORS’ REPORT ON THE COMPANY FINANCIAL STATEMENTS AUDITORS’ REPORT ON THE COMPANY FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2010 To the shareholders, In accordance with our appointment as Statutory auditors at your Annual General Meeting, we hereby report to you for the year ended 31 December 2010 on: the audit of the accompanying financial statements of SEB S.A.; the justification of our assessments; the specific verifications and disclosures required by law. The fi nancial statements have been approved by the Board of Directors. Our role is to express an opinion on these financial statements, based on our audit. I. OPINION ON THE FINANCIAL STATEMENTS We conducted our audit in accordance with professional standards applicable in France. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, using sample testing techniques or other selection methods, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made, as well as evaluating the overall financial statement presentation. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a reasonable basis for our opinion. In our opinion, the financial statements give a true and fair view of the financial position and the assets and liabilities of the Company as of 31 December 2010 and the results of its operations for the year then ended in accordance with accounting principles generally accepted in France. II. JUSTIFICATION OF OUR ASSESSMENTS Pursuant to the requirements of Article L. 823-9 of the French Commercial Code (Code de CommerceCode de Commerce) on the justification of our assessments, we draw your attention to the following matter: As indicated in Note 1.3 to the financial statements, the Company records provisions for impairment of its equity investments when their carrying value falls below their historical cost. Provisions are determined based on the share of equity held, the market value of the securities, when it can be known and the medium and long-term profi tability outlook of the equity investments concerned. Our procedures consisted in assessing the data and assumptions on which such provisions are based and verifying the Company’s calculations. These assessments were made as part of our audit of the financial statements taken as a whole, and therefore contributed to the opinion expressed in the first part of this report. 4 GROUPE SEB FINANCIAL REPORT AND REGISTRATION DOCUMENT 2010 133
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FINANCIAL REPORT AND REGISTRATION D
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GROUP PROFILE AND KEY FIGURES 2010
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GROUPE SEB IN 2010 1 GROUPE SEB IN
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Financial Report and Registration Document 2010 - Groupe Seb

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