sain t-gobain annu al report 2008 annual report

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Table of concordance 1 Person responsible for the Registration Document 227 2 Statutory Auditors 107 3 Selected financial information 7,27,29,31,32 4 Risk factors 119 5 Information about the issuer History and development of the issuer 6/7 Investments 26 6 Business overview Principal activities 8/19 Principal markets 8,11,15,17,19 7 Organizational structure 181/182 8 Property, plant and equipment 147 9 Operating and financial review Operating results 24,130 10 Liquidity and capital resources 85,131,133,150/151,165/167 11 Research and development, patents and licenses 20/21 12 Trend information 33 13 Profit forecasts or estimates NA 14 Administrative, management and supervisory bodies and senior management 91/92,106/107 15 Remuneration and benefits 101/106 16 Board practices 97/101 17 Employees 17.1 Average number of employees Consolidated companies 177 Compagnie de Saint-Gobain 210 17.2 Shareholdings and stock options Shareholdings 153/154,200 Stock options 151/152,198/199 17.3 Arrangements for involving the employees in the capital of the issuer 87 18 Major shareholders 84 228 Saint-Gobain – Financial Report 2008
19 Related party transactions 176 20 Financial information concerning the issuer’s assets and liabilities, financial position and profits and losses 20.1 Historical financial information 7 20.2 Pro forma financial information NA 20.3 Financial statements 128/133,186/190 20.4 Auditing of the historical annual financial statements 183/184, 214/215 20.5 Age of latest financial information 90 20.6 Interim and other financial information NA 20.7 Dividend policy 81 20.8 Legal and arbitration proceedings 123/125 20.9 Significant change in the issuer’s financial or trading position NA 21 Additional information 21.1 Share capital 84/86 21.2 Memorandum and Articles of Association 108 22 Material contracts NA 23 Third party information and statements by experts and declarations of interest NA 24 Documents on display 90 25 Information on holdings 216/226 The following information is incorporated by reference in the Registration Document: The consolidated financial statements and the parent company financial statements for the year ended December 31, 2007 and the Statutory Auditors’ reports on the consolidated financial statements and the parent company financial statements for the same period, and the Group management report, which are contained in the Registration Document filed with the Autorité des Marchés Financiers on April 8, 2008 under no D.08-0214. The consolidated financial statements and the parent company financial statements for the year ended December 31, 2006 and the Statutory Auditors’ reports on the consolidated financial statements and the parent company financial statements for the same period, and the Group management report, which are contained in Registration Document filed with the Autorité des Marchés Financiers on March 29, 2007 under no. D.07-0247. Information required in the Annual Financial Report Pages in this document Statement by the person responsible for the Annual Financial Report 227 Management report Analysis of profits and losses, financial position and risks of the parent company and the consolidated group, and details of shareholder authorizations given to the Board of Directors to increase the capital of the parent company (art. L.225-100-2 and 140 of the French Commercial Code) 24/33,86/87 Information that may have a bearing on a takeover bid, whose disclosure is required by art. L.225-100-3 of the French Commercial Code 87 Information about share buybacks (art. L.225-211, paragraph 2, of the French Commercial Code) 89 Financial statements Parent company financial statements 186/213 Statutory Auditors’ report on the parent company financial statements 214/215 Consolidated financial statements 128/182 Statutory Auditors’ report on the consolidated financial statements 183/184 TABLE OF CONCORDANCE 229 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
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The following tables show the funde
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Actuarial assumptions used to measu
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The effective tax rate paid by the
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Provisions for claims and litigatio
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isks is hedged wherever possible wi
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Bond issues On June 13, 2008, Saint
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NOTE 19 Financial instruments Deriv
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NOTE 21 Business income by expense
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The weighted average number of shar
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174 In addition, as of December 31,
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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 208 and 209: NOTE 14 Investment portfolio Countr
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 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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