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6 COMPANY FINANCIAL STATEMENTS STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS 234 > 4. Statutory Auditors’ report on the financial statements This is a free translation into English of the Statutory Auditors’ report on the Financial Statements issued in French and it is provided solely for the convenience of English speaking users. The Statutory Auditors’ report includes information specifically required by French law in such reports, whether modified or not. This information is presented below the audit opinion on the fi nancial statements and includes an explanatory paragraph discussing the auditors’ assessments of certain significant accounting and auditing matters. These assessments were considered for the purpose of issuing an audit opinion on the financial statements taken as a whole and not to provide separate assurance on individual account balances, transactions, or disclosures. This report also includes information relating to the specific verification of information given in the management report and in the documents addressed to shareholders. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France To the Shareholders, In compliance with the assignment entrusted to us by your Annual Shareholders’ Meeting, we hereby report to you, for the year ended December 31, 2011 on: • the audit of the accompanying financial statements of Schneider Electric SA; I – Opinion on the Financial Statements We conducted our audit in accordance with professional standards applicable in France; those 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 involves performing procedures, using sampling techniques or other methods of selection, to obtain audit evidence about the amounts and disclosures in the financial statements. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made, as well as II – Justification of assessments In accordance with the requirements of article L.823-9 of the French Commercial Code (Code de commerce) relating to the justification of our assessments, we bring to your attention the following matters: As part of our assessment of the accounting principles and methods used by your company, we verifi ed the appropriateness of the principles and methods used to value shares in subsidiaries and affiliates, described in the section on accounting principles and 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC • the justification of our assessments; • the specific verifications and information required by law. These financial statements have been approved by the Management Board. Our role is to express an opinion on these financial statements based on our audit. the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the financial position of the Company as at December 31, 2011 and of the results of its operations for the year then ended in accordance with French generally accepted accounting principles. in note 2 to the financial statements, and obtained assurance that they were correctly applied. Our assessments were made in the context of the performance of our audit of the financial statements, taken as a whole, and therefore contributed to the opinion we formed which is expressed in the first part of this report.
III – Specific verifications and information We have also performed the specific verifications required by law, in accordance with professional standards applied in France. We have no matters to report regarding the fair presentation and conformity with the financial statements of the information given in the Management Board’s report and in the documents addressed to the shareholders with respect to the financial position and the financial statements. Regarding the information provided in accordance with the requirements of article L.225-102-1 of French Commercial Code relating to the compensation and benefits paid to the Corporate officers concerned and the engagement granted to them, we verified the conformity with the financial statements, or with the data used for the preparation of the financial statements; and, when applicable, with the information collected by the Company from the > 5. List of securities held at December 31, 2011 COMPANY FINANCIAL STATEMENTS LIST OF SECURITIES HELD AT DECEMBER 31, 2011 companies which control your Company or are controlled by your Company. On the basis of the audit we performed, we attest that this information is true and fair. In accordance with French Law, we have ensured that the required information concerning the purchase of investments and controlling interests and the names of the principal shareholders has been properly disclosed in the Management Board’s report. Paris-La Défense and Courbevoie, February 21, 2012, The Statutory Auditors French original signed by Ernst & Young et Autres Mazars Yvon SALAÜN David CHAUDAT Number amount (in thousands of euros) A. Major investments (Carrying amounts over EUR15 thousand) Company Carrying of securities 56,019,611 Schneider Electric Industries SAS 4,344,481 10,612,659 AXA 111,172 44,271 SELF 2,683 1,300 Vigéo SAS 53 1,994,154 B. Other investments Schneider Electric SA own shares 48,778 4,507,167 (Carrying amounts under EUR15 thousand) 1,038 C. Investments in real estate companies - D. Investments in foreign companies 241,114 TOTAL Marketable securities 4,749,319 7,170,798 Schneider Electric SA own shares (stock option plans 26, 27, 28, 29 and 30 and Stocks grants plan n°5 and 8) 199,681 TOTAL 199,681 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 235 6
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Registration Document 2011 Financia
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Registration Document Financial and
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distinctions that are both an achie
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Interview with Schneider Electric r
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Supervisory Board (as of February 2
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Sales by geography 18% Rest of the
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2011 in brief Growth and acquisitio
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and IT managers will now be able to
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1 Description of the Group, and its
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1.3 The emergence of sustainable ci
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DESCRIPTION OF THE GROUP, AND ITS S
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2. Leader in an industry of the fut
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Specifiers: in search of efficient
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3.2 A platforms strategy The growin
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Diversified partnerships In additio
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4. Organisational simplicity DESCRI
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These procedures include quarterly
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The Group may be exposed to the ris
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Legal risks The Group’s products
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• in North America, a captive ins
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2 Sustainable development 1. Sustai
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Open dialogue with stakeholders Cus
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2 SUSTAINABLE DEVELOPMENT SUSTAINAB
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2 SUSTAINABLE DEVELOPMENT SUSTAINAB
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2 SUSTAINABLE DEVELOPMENT GREEN AND
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2 SUSTAINABLE DEVELOPMENT SCHNEIDER
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2 SUSTAINABLE DEVELOPMENT COMMITTED
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2 SUSTAINABLE DEVELOPMENT METHODOLO
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SUSTAINABLE DEVELOPMENT 2 INDICATOR
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2 SUSTAINABLE DEVELOPMENT 106 REGIS
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3 SUPERVISORY CORPORATE GOVERNANCE
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3 CORPORATE GOVERNANCE SUPERVISORY
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3 CORPORATE GOVERNANCE ORGANISATION
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3 CORPORATE GOVERNANCE MANAGEMENT B
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3 CORPORATE GOVERNANCE MANAGEMENT I
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3 CORPORATE GOVERNANCE REGULATED AG
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3 CORPORATE GOVERNANCE INTERNAL CON
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142 2011 REGISTRATION DOCUMENT SCHN
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4 TRENDS BUSINESS REVIEW IN SCHNEID
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4 BUSINESS REVIEW REVIEW OF THE CON
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4 BUSINESS REVIEW REVIEW OF THE CON
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4 BUSINESS REVIEW REVIEW OF THE PAR
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5 CONSOLIDATED CONSOLIDATED FINANCI
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5 CONSOLIDATED FINANCIAL STATEMENTS
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Page 186 and 187: 5 CONSOLIDATED FINANCIAL STATEMENTS
Page 222 and 223: 6 BALANCE 220 COMPANY FINANCIAL STA
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Page 242 and 243: 7 GENERAL GENERAL PRESENTATION OF S
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Page 246 and 247: GENERAL PRESENTATION OF SCHNEIDER E
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Page 262 and 263: 8 MANAGEMENT ANNUAL AND EXTRAORDINA
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Page 276: 274 PERSONS RESPONSIBLE FOR THE REG
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