sain t-gobain annu al report 2008 annual report

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NOTE 14 Investment portfolio Country Net book % interest Number (in € thousands) value of shares Spafi France 2,726,540 100.00 116,289,805 Partidis France 2,065,919 100.00 78,262,892 Saint-Gobain Matériaux de Construction France 1,723,712 100.00 85,916,100 Vertec France 491,039 100.00 8,008,999 Saint-Gobain Benelux Belgium 400,344 100.00 1,624,587 Saint-Gobain Cristaleria Spain 211,220 24.51 3,659,866 Saint-Gobain Building Distribution Deutschland Germany 194,609 100.00 100,000,000 International Saint-Gobain Switzerland 162,247 100.00 221,950 Saint-Gobain Glass Benelux SA Belgium 160,880 88.69 1,667,698 Saint-Gobain Isover G+H AG Germany 153,791 99.91 3,196,976 Saint-Gobain Vetrotex Deutschland GmbH Germany 153,669 100.00 45,000,000 Compagnie de Saint-Gobain (own shares) France 127,182 1.09 4,163,913 Saint-Gobain Glass Deutschland GmbH Germany 86,660 60.00 120,000,000 Saint-Gobain do Brasil Brazil 83,146 33.51 34,040,128 Jarvis Participacoes LTDA Brazil 77,302 99.90 253,412,478 Saint-Gobain Autoglas GmbH Germany 72,833 60.00 120,000,000 Saint-Gobain Vidros SA Brazil 67,181 99.96 209,374,623 Saint-Gobain Emballage France 61,553 20.52 331,964 Saint-Gobain Schleifmittel-Beteiligungen GmbH Germany 61,151 100.00 20,000,000 SEPR France 53,310 25.73 407,600 Saint-Gobain PAM France 30,732 8.10 360,255 Saint-Gobain Nederland Netherlands 13,621 100.00 66,100 SCI Ile-de-France France 3,428 - - SCI Campus France 10,808 - - Miscellaneous French companies 691 - - Miscellaneous foreign companies 1,092 - - Reported in the balance sheet under 9,194,660 Investments in subsidiaries and affiliates 9,067,258 Other investment securities 127,402 9,194,660 206 Saint-Gobain – Financial Report 2008
NOTE 15 Information about direct investments in subsidiaries and affiliates with a carrying amount representing over 1% of the Company’s capital stock COMPANIES Capital Reserves % Book value Loans and Guarantees 2008 2008 Dividends (in thousands stock interest of shares held advances given net net received of euros or local Gross Net granted by by the sales income/ in 2008 currency) the Company Company (loss) €k €k €k €k €k 1 - SUBSIDIARIES (1) At least 50%-owned by Compagnie de Saint-Gobain Spafi 18, avenue d’Alsace €k €k €k €k 92400 Courbevoie 1,860,637 1,256,647 100.00 2,726,540 2,726,540 606 149,212 Partidis 18, avenue d’Alsace €k €k €k €k 92400 Courbevoie 1,193,509 696,313 100.00 2,065,919 2,065,919 1,375,578 9,736 275,975 171,396 Saint-Gobain Matériaux de Construction 18, avenue d’Alsace €k €k €k €k 92400 Courbevoie 1,310,221 (110,659) 100.00 1,723,712 1,723,712 4,679,484 19,741 (145,660) - Vertec 18, avenue d’Alsace €k €k €k €k 92400 Courbevoie 128,144 614,655 100.00 491,039 491,039 - 150,219 229,538 Saint-Gobain Benelux Bouleverd de la Plaine 5 €k €k €k €k B 1050 Brussels 400,345 1,530 100.00 400,344 400,344 15,374 2,404 Saint-Gobain Building Distrib Deutsch Hanauer Landstrasse, 150 €k €k €k €k D-60314 Frankfurt am Main 100,000 94,600 100.00 194,609 194,609 1,236,753 (6,207) (6,207) International Saint-Gobain 10, rue Saint-Pierre CHFk CHFk CHFk CHFk CH-1700 Fribourg 221,950 69,317 100.00 162,247 162,247 - 680,370 228,045 Saint-Gobain Glass Benelux SA Rue des Glaces Nationales, 169 €k €k €k €k B-5060 Sambreville 70,900 90,678 88.69 160,880 160,880 154,794 24,863 Saint-Gobain Isover G+H AG 1 Burgermeister-Grünzweig Strasse €k €k €k €k D-67059 Ludwigshafen 82,000 11,291 99.91 153,791 153,791 381,769 146,276 146,276 Saint-Gobain Vetrotex Deutschland GmbH Bicheroux Strasse 61 €k €k €k €k D-52134 Herzogenrath 23,008 139,936 100.00 153,669 153,669 26,461 18,717 18,717 Saint-Gobain Glass Deutschland GmbH Viktoria - Allee 3-5 €k €k €k €k D-52066 Aachen 102,256 35,889 60.00 87,197 86,660 458,310 71,697 123,158 Saint-Gobain Do Brasil 482, avenida Santa Marina Agua Branca BRLk BRLk BRLk BRLk 05036-903 Säo Paulo-SP ( Brazil) 1,015,685 2,990 33.51 83,146 83,146 1,133,649 214,174 2,312 Jarvis Participacoes LTDA 482, avenida Santa Marina Agua Branca BRLk BRLk BRLk BRLk 05036-903 Säo Paulo-SP (Brazil) 253,659 99.90 77,302 77,302 34,453 1,565 Saint-Gobain Autoglas GmbH Viktoria - Allee 3-5 €k €k €k €k D-52066 Aachen 102,258 19,130 60.00 72,833 72,833 (158,869) (160,710) NOTES THE PARENT COMPANY FINANCIAL STATMENTS 207 Saint-Gobain – Financial Report 2008
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2008 annual report
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Contents 05 • Strategy and busine
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3 STRATEGY AND BUSINESSES Jean-Loui
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Strategy and Businesses of Saint-Go
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Responding to recession by demonstr
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The High-Performance Materials Divi
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High-Performance Materials Business
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Insulation products are made from m
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Construction Products Businesses an
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Finland, Estonia, Lithuania and Pol
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ecovered glass can be recycled inde
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The “Germ-free Surfaces” progra
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24 2008 results dampened by the fin
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holders of the parent contracted 7.
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28 2008 business review 2008 sales
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30 The Division also continued to e
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32 In the Nordic countries, Dahl de
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Sustainable development 34 Sustaina
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Environment Challenges Action taken
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38 I. Products and services contrib
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40 Sun Saint-Gobain is a major supp
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42 a British trade association that
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44 Mobilizing resources to deploy t
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46 EHS auditors are drawn from a po
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48 Lastly, we make every effort to
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To help them to implement the plan,
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52 Wood dust is primarily an issue
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54 BRØDRENE DAHL’S PROGRAM FOR R
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56 2008-2010 OBJECTIVE Saint-Gobain
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58 warehouses and other similar spa
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product developed in 2006 by Lapeyr
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62 Internships during a student’s
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64 Geographical and job mobility is
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66 SAINT-GOBAIN AND THE BROAD-BASED
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68 Honest, open, high quality socia
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70 Construction Products The Constr
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72 IV. Values supporting responsibl
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74 INTERNATIONAL CORPORATE FOUNDATI
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76 In countries facing certain soci
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78 for example, 91% of the Group’
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ENVIRONMENTAL INDICATORS 2007 2008
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Trading volume since September 2007
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Trading volume since September 2007
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Changes in capital over the last fi
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88 The decision to grant stock opti
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Information Policy and 2009 Financi
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92 Yuko HARAYAMA Professor at Tohok
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Other directorships and positions h
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96 Director’s name and current ma
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98 • Committees of the Board. Thr
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100 The Committee’s remit, as def
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• The Annual General Meeting of J
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4. Stock options granted to the Cha
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106 Management compensation In Grou
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Fees paid by the Group to the Audit
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110 Related party agreements Relate
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112 The audits are based on a 20-st
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114 being applied. The TAS framewor
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Statutory Auditors’ report Prepar
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Commitment concerning the payment o
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120 Restructuring risks The Group h
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122 • Volumes are not material, o
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124 or any specific illness or phys
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The level of coverage is considered
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Consolidated balance sheet at 31 De
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Consolidated income statement (in
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Statement of recognized income and
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Notes to the consolidated financial
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136 Non-current assets held for sal
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138 asset’s fair value less costs
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140 Fair value of financial instrum
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142 Other business income and expen
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2006 In 2005, the Group acquired th
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NOTE 4 Other intangible assets Pate
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NOTE 6 Investments in associates (i
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150 NOTE 8 Inventories Dec. 31, Dec
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Movements relating to stock options
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The plan costs are calculated under
Page 158 and 159: The following tables show the funde
Page 160 and 161: Actuarial assumptions used to measu
Page 162 and 163: The effective tax rate paid by the
Page 164 and 165: Provisions for claims and litigatio
Page 166 and 167: isks is hedged wherever possible wi
Page 168 and 169: Bond issues On June 13, 2008, Saint
Page 170 and 171: NOTE 19 Financial instruments Deriv
Page 172 and 173: NOTE 21 Business income by expense
Page 174 and 175: The weighted average number of shar
Page 176 and 177: 174 In addition, as of December 31,
Page 178 and 179: NOTE 28 Related-party transactions
Page 180 and 181: Innovative Construction Building Pa
Page 182 and 183: Information by geographic area Fran
Page 184 and 185: 182 Principal fully consolidated co
Page 186 and 187: II - Justification of our assessmen
Page 188 and 189: Income statement at December, 31 (i
Page 190 and 191: Balance sheet at December, 31 ASSET
Page 192 and 193: Cash flow statement (in € thousan
Page 194 and 195: Risk management/Financial instrumen
Page 196 and 197: NOTE 5 Intangible assets Intangible
Page 198 and 199: Changes in Compagnie de Saint-Gobai
Page 200 and 201: Grant stock options exercisable for
Page 202 and 203: 9.4 Compagnie de Saint-Gobain Group
Page 204 and 205: NOTE 12 Debt and payables Total deb
Page 206 and 207: 12.1 Perpetual bonds In 1985, Compa
Page 210 and 211: COMPANIES Capital Reserves % Book v
Page 212 and 213: NOTE 18 Fees paid to the Statutory
Page 214 and 215: Asbestos-related litigation in Braz
Page 216 and 217: Statutory Auditors’ report on the
Page 218 and 219: Main subsidiaries by country and de
Page 220 and 221: Saint-Gobain Vetrotex Deutschland G
Page 222 and 223: Saint-Gobain Construction Products
Page 224 and 225: Saint-Gobain Building Distribution
Page 226 and 227: Subsidiaries: Saint-Gobain Technica
Page 228 and 229: CHINA €1 = CNY 10.227 Saint-Gobai
Page 230 and 231: Table of concordance 1 Person respo
Page 232 and 233: COMPAGNIE DE SAINT-GOBAIN France He
Page 234 and 235: Notes 232 Saint-Gobain - Financial
Page 236: Saint-Gobain photo library ; p1 ©
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