ANNUAL report 2011

78
AdMiNistrAtioN ANd fiNANCe
The administration, controlling and finance teams play an active part
in the group’s economic performance, and in its international development.
They ensure that the company’s subsidiaries are supported by all the financial and
other resources required for their long-term development. In 2011, the balance sheet
was particularly robust, and the trend in the profit and loss account structure
was favourable, which will support the growth of sales and profitability.
developing
a relationship
of trust
he administration, controlling and
finance teams participate in the
economic management of the group. They
contribute to the development of the businesses
by strengthening the relationship of
trust which unites the group over the long
term with its partners: customers, suppliers,
bankers, market authorities, rating agencies
and shareholders.
2011 saw a further step forward in improving
the quality of controls, monitoring tools and
information systems, with a particular focus on
infrastructure and major application
systems.
Trust and vigilance
go hand in hand
Trust is gained through constant vigilance.
Close monitoring of cash flows and continuing
efforts to safeguard financing help to further
strengthen the company’s good financial
health.
In the case of suppliers and customers, the
relationship of trust is underpinned by professionalism
and an ethical approach in our
exchanges, based on highly demanding
requirements, in all parts of the world.
The financial communications team is intensifying
its contact with shareholders and
investors to provide them with fair and transparent
economic information about the
group’s activities, outlook and strategy.
ChristiAN MULLiez
EXECUTIVE VICE-PRESIDENT, ADMINISTRATION AND FINANCE
strongly
committed to
the businesses,
the teams are helping
to build and
maintain
a relationship of
solid trust with all
our stakeholders.
This trust
is absolutely crucial
for the group’s
sustainable growth.
By ensuring the same level of quality and
exacting requirements, the teams have also
contributed to the efficient functioning of the
Board of Directors and its committees.
Contributing to the
company’s modernisation
Administration and Finance is supporting the
group in its efforts to conquer a billion new
consumers. To further raise efficiency, it
ensures that the group’s standards and best
practices are communicated to all the entities,
particularly in the New Markets. In 2011,
this approach made a significant contribution
to the development of recently created
subsidiaries, in Africa and the Middle East for
example. Controlling, internal audit and the
legal department were frequently called on
to help these subsidiaries conduct their operational
and financial activities well.
Expertise and the people
behind it
Capitalising on the experience and expertise
of its international and mobile teams, the group
carries out regular training and audit missions
in its subsidiaries all over the world. The teams
work in close conjunction with operational staff
on the modernisation of business control systems,
so as to constantly increase their performances
and ensure they are adapted to meet
real needs at operational level.