Registration Document BOUYGUES

More documents

Recommendations

Info

1 The Group Group profile Management team at 28 February 2012 bouyGueS parent company Martin Bouygues Chairman and CEO Olivier Bouygues Deputy CEO Jean-François Guillemin Corporate Secretary Philippe Marien Chief Financial Officer, Chairman of Bouygues Telecom Alain Pouyat Executive Vice-President, Information Systems and New Technologies Jean-Claude Tostivin Senior Vice-President, Human Resources and Administration headS of the five buSineSS areaS Yves Gabriel Chairman and CEO, Bouygues Construction François Bertière Chairman and CEO, Bouygues Immobilier Hervé Le Bouc Chairman and CEO, Colas Nonce Paolini Chairman and CEO, TF1 Olivier Roussat CEO, Bouygues Telecom BOUYGUES • 2011 Registration Document • THE GROUP • 13
2011 key figures The Bouygues group had a good year in 2011, with solid operating performances and excellent sales for the Construction businesses. The Group is also in a robust financial position. financial hiGhliGhtS (€ million) 2010 2011 2011/2010 Sales 31,225 32,706 +5% EBITDA a 3,330 3,242 -3% Current operating profit 1,760 1,819 +3% Operating profit 1,791 b 1,857 c +4% Net profit attributable to the Group 1,071 1,070 = Earnings per share (€) 3.03 3.06 +1% Adjusted earnings per share (€) d 2.97 3.40 +14% Cash flow 3,244 3,325 +2% Net capital expenditure 1,423 1,658 e +17% Free cash flow f 1,009 862 e -15% Shareholders’ equity (period-end) 10,607 9,678 -€929m Net debt (period-end) 2,473 3,862 +€1,389m Net gearing (period-end) 23% 40% +17 pts Net dividend per share (€) 1.6 1.6 g = Number of employees 133,456 130,827 -2% (a) Current operating profit excluding net depreciation and amortisation expense and changes in provisions, and impairment losses (after reversals of utilised and non-utilised provisions and impairment losses) (b) Includes €31m of other operating income net of expenses (income of €83m at TF1, expenses of €52m at Colas) (c) Includes €38m of other operating income at Bouygues Telecom (d) calculated on the basis of the number of shares outstanding at 31 December, excluding treasury shares (e) Excluding 4G frequencies (€228m) (f) Cash flow before changes in working capital requirements, minus cost of net debt, income tax expense for the year and net capital expenditure (g) To be submitted for approval by the Annual General Meeting on 26 April 2012 SaleS e32.7 billion (up 5%) € million (*) not meaningful 31,225 2010 32,706 2011 Sales by business area* 120 2,620 5,741 12,412 North America 8% e2,520m 9,802 2,465 (*) Impact of intra-Group eliminations: -€454m n Bouygues Construction n Bouygues Immobilier n Colas n TF1 n Bouygues Telecom n Holding company and other SaleS by reGion Central/South America n.m.* e151m Rest of Europe France 14% 69% e4,445m e22,601m > Overall, the Bouygues group generated sales of €32.7 billion in 2011, up 5% (or 3% on a like-for-like basis and at constant exchange rates). This was ahead of the initial target, thanks largely to a good fourth-quarter performance from the Construction businesses. > Sales at Bouygues Construction reached €9,802 million, up 6% (or 2% on a likefor-like basis and at constant exchange rates), with both France (€5,350 million, up 5%) and international (€4,452 million, up 8%) contributing to growth. > Bouygues Immobilier reported sales of €2,465 million, up 2%. Residential property sales totalled €1,994 million, and marked a return to growth (up 2%, with 11% growth in the second half). Commercial property sales were flat at €471 million, and included the sale of two developments: Farman (Paris) and Green Office ® Meudon (near Paris). Africa and Middle East 4% e1,487m Asia-Pacific 5% e1,502m (e32,706m) > Colas achieved sales growth of 6% (or 5% on a like-for-like basis and at constant exchange rates) to €12,412 million. In France, a solid performance saw sales rise by 8% to €7,250 million. International sales were 4% higher at €5,162 million, with North America enjoying an especially good year despite projects being hampered by adverse weather conditions at the start of the year. Overall, sales for the Construction businesses advanced by 6% to €24.4 billion. > Sales at TF1 were unchanged yearon-year at €2,620 million, but were down 2% on a like-for-like basis and at constant exchange rates. Advertising revenue for the TF1 group as a whole rose by 2% to €1,822 million, thanks to the consolidation of TMC and NT1. > Bouygues Telecom recorded 2% sales growth to €5,741 million, with sales from the network flat at €5,082 million thanks to fixed-line offers and MVNOs. Excluding the impact of voice and SMS call termination rate differentials, sales would have risen by 8%. BOUYGUES • 2011 Registration Document • THE GROUP • 2011 key figures • 14
Page 1 and 2: Bouygues Construction Bouygues Immo
Page 3 and 4: Contents Interview with Martin Bouy
Page 5 and 6: A good year in 2011 Interview with
Page 7 and 8: The Group BOUYGUES • 2011 Registr
Page 9 and 10: Group profile strategy. Its two lar
Page 11 and 12: Flagship projects 1 2 3 4 5 BOUYGUE
Page 13: The Board of Directors at 28 Februa
Page 17 and 18: caSh flow € million 3,244 e3,325
Page 19 and 20: Highlights Privée, included the re
Page 21 and 22: factS and fiGureS for 2011 (continu
Page 23 and 24: Highlights since 1 January 2012 aga
Page 25 and 26: Bouygues and its shareholders THE B
Page 27 and 28: Corporate, social and environmental
Page 29 and 30: Governance and dialogue with stakeh
Page 31 and 32: Respect "Our people are the most pr
Page 33 and 34: the work/perSonal life balance in G
Page 35 and 36: Trust "We believe in laying the gro
Page 37 and 38: headcount by reGion Scope: global H
Page 39 and 40: Fairness "All HR decisions in matte
Page 41 and 42: Gender equality Equal treatment of
Page 43 and 44: Investing in training "Within the G
Page 45 and 46: Low-carbon solutions The energy/car
Page 47 and 48: IMPROVING PRODUCTS AND SERVICES FOR
Page 49 and 50: GROUP-WIDE CSR ACTIONS Shared and G
Page 51 and 52: Sharing knowledge with BYpedia The
Page 53 and 54: Business activities and CSR BOUYGUE
Page 55 and 56: Full-service contractor Operating i
Page 57 and 58: Energy and services Bouygues Constr
Page 59 and 60: Performance Contract in Vitry-sur-S
Page 61 and 62: the Research & Development and Inno
Page 63 and 64: aims to make itself more attractive
Page 65 and 66:
In all the countries where it opera
Page 67 and 68:
CSR: challenges and key indicators
Page 69 and 70:
Extra-financial indicators at 31 De
Page 71 and 72:
France's leading property developer
Page 73 and 74:
Hikari, the first positive-energy,
Page 75 and 76:
RESIDENTIAL PROPERTY: BOUYGUES IMMO
Page 77 and 78:
The other element is a highly perso
Page 79 and 80:
For the Solid'R Community Day, empl
Page 81 and 82:
dialogue wiTH sTaKeHolders - bouygu
Page 83 and 84:
Page 85 and 86:
The world's leading roadbuilder Wit
Page 87 and 88:
in some countries. Upstream, the gr
Page 89 and 90:
in capital spending by local author
Page 91 and 92:
Construction of the Port-Louis bypa
Page 93 and 94:
Securing acceptance of production s
Page 95 and 96:
vibration and working posture. Dust
Page 97 and 98:
Colas is rehabilitating pathways in
Page 99 and 100:
Page 101 and 102:
The leading private television grou
Page 103 and 104:
TF1 has also created a broad range
Page 105 and 106:
Net financial debt came to €40 mi
Page 107 and 108:
Editorial staff mobilised The total
Page 109 and 110:
Supplier commitment to the Responsi
Page 111 and 112:
Page 113 and 114:
Mobile, fixed, TV and internet serv
Page 115 and 116:
Bouygues Telecom's mobile phone net
Page 117 and 118:
MVNOs accounted for 79% of new cust
Page 119 and 120:
Optimised packaging for Bouygues Te
Page 121 and 122:
SUPPORTING OUR PEOPLE Like other Gr
Page 123 and 124:
Responsible site management Sustain
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Bouygues SA Key figures 2011 sales
Page 131 and 132:
At the heart of sustainable develop
Page 133 and 134:
Power transmission Orders worth €
Page 135 and 136:
Risk factors BOUYGUES • 2011 Regi
Page 137 and 138:
Risk factors Operational risks asso
Page 139 and 140:
with good future prospects is fuell
Page 141 and 142:
ased on reporting tools, serves to
Page 143 and 144:
For several years, Colas has been c
Page 145 and 146:
The current labour climate brings a
Page 147 and 148:
in order to anticipate and neutrali
Page 149 and 150:
Market value of hedging instruments
Page 151 and 152:
Colas Île-de-France Normandie is c
Page 153 and 154:
commitments in terms of broadcastin
Page 155 and 156:
Mobile phone base stations > The ch
Page 157 and 158:
Legal and financial information BOU
Page 159 and 160:
Information on directors and non-vo
Page 161 and 162:
François Bertière 3 boulevard Gal
Page 163 and 164:
Patrick kron 3 avenue Malraux, 9230
Page 165 and 166:
sandra noMBret 1 avenue Eugène Fre
Page 167 and 168:
NON-VOTING DIRECTOR Michèle vilain
Page 169 and 170:
Chairman’s report on corporate go
Page 171 and 172:
Name Age a Accounts Committee Remun
Page 173 and 174:
The Board will seek to increase the
Page 175 and 176:
est or invest in a company, whether
Page 177 and 178:
as well as forward transactions on
Page 179 and 180:
of the company in charge of the fin
Page 181 and 182:
12 • WORK OF THE BOARD AND ITS CO
Page 183 and 184:
In case of internal fraud or miscon
Page 185 and 186:
focus was on monitoring the action
Page 187 and 188:
developing all processes and proced
Page 189 and 190:
17.7 Information and communication
Page 191 and 192:
Remuneration of corporate officers
Page 193 and 194:
1.4 Table 3 - Directors’ fees The
Page 195 and 196:
2 • 2011 REPORT ON STOCK OPTIONS
Page 197 and 198:
2.2.1 Table 4 - Options granted to
Page 199 and 200:
2.5 Stock options granted to or exe
Page 201 and 202:
Significant changes in share owners
Page 203 and 204:
3 • STOCK MARKET RULES AND PREVEN
Page 205 and 206:
Share capital 1 • GENERAL INFORMA
Page 207 and 208:
2 • FINANCIAL AUTHORISATIONS SUBM
Page 209 and 210:
5.2 Description of the new share bu
Page 211 and 212:
Legal information 1 • GENERAL INF
Page 213 and 214:
Agreements entered into by Bouygues
Page 215 and 216:
Financial statements BOUYGUES • 2
Page 217 and 218:
Consolidated financial statements C
Page 219 and 220:
CHANGES IN CONSOLIDATED SHAREHOLDER
Page 221 and 222:
Notes to the consolidated financial
Page 223 and 224:
Network Operators (MVNOs). This aut
Page 225 and 226:
Subsequently, goodwill is carried a
Page 227 and 228:
Broadcasting rights are recognised
Page 229 and 230:
of rights (for external productions
Page 231 and 232:
Non-current provisions are not usua
Page 233 and 234:
2.14 Cash flow statement The cash f
Page 235 and 236:
3.2.2 Intangible assets 1,209 Devel
Page 237 and 238:
3.2.4 Non-current financial assets
Page 239 and 240:
3.2.4.2 Investments in non-consolid
Page 241 and 242:
4.2 Advances and down-payments on o
Page 243 and 244:
NOTE 5 • CONSOLIDATED SHAREHOLDER
Page 245 and 246:
6.2 Current provisions 831 Provisio
Page 247 and 248:
NOTE 8 • NON-CURRENT AND CURRENT
Page 249 and 250:
NOTE 9 • MAIN COMPONENTS OF CHANG
Page 251 and 252:
NOTE 12 • OPERATING PROFIT 1,857
Page 253 and 254:
NOTE 16 • SEGMENT INFORMATION Seg
Page 255 and 256:
16.3 Analysis by geographical area
Page 257 and 258:
NOTE 17 • FINANCIAL INSTRUMENTS T
Page 259 and 260:
NOTE 18 • OFF BALANCE SHEET COMMI
Page 261 and 262:
NOTE 19 • HEADCOUNT, EMPLOYEE BEN
Page 263 and 264:
Main actuarial assumptions used to
Page 265 and 266:
NOTE 21 • ADDITIONAL CASH FLOW ST
Page 267 and 268:
NOTE 23 • PRINCIPAL EXCHANGE RATE
Page 269 and 270:
Proportionate consolidation Constru
Page 271 and 272:
INCOME STATEMENT - YEAR ENDED 31 DE
Page 273 and 274:
NOTE 1 • SIGNIFICANT EVENTS OF TH
Page 275 and 276:
NOTE 3 • NON-CURRENT ASSETS Balan
Page 277 and 278:
NOTE 11 • DETAILS OF AMOUNTS INVO
Page 279 and 280:
NOTE 18 • AVERAGE NUMBER OF EMPLO
Page 281 and 282:
Combined Annual General Meeting of
Page 283 and 284:
Agenda 1. ORDINARY GENERAL MEETING
Page 285 and 286:
Martin Bouygues was born on 3 May 1
Page 287 and 288:
BOARD OF DIRECTOR’S MANAGEMENT RE
Page 289 and 290:
AUDITORS’ REPORT ON THE CONSOLIDA
Page 291 and 292:
AUDITORS’ SPECIAL REPORT ON REGUL
Page 293 and 294:
SCDM may also supply Bouygues with
Page 295 and 296:
Agreements and commitments approved
Page 297 and 298:
Draft resolutions 1. ORDINARY GENER
Page 299 and 300:
3. delegates to the Board of Direct
Page 301 and 302:
Glossary CONSTRUCTION 3E ® Aggrega
Page 303 and 304:
Rehagreen ® A service package crea
Page 305 and 306:
High-density area HSPA Interactivit
Page 307 and 308:
CSR According to the ISO 26000 stan
Page 309 and 310:
CSR and environmental indicators: n
Page 311 and 312:
Concordance Headings of Annex 1, EU
Page 313 and 314:
FULL-YEAR FINANCIAL REVIEW The 2011
Page 315 and 316:
STATEMENT BY THE PERSON RESPONSIBLE
Page 317:
BOUYGUES GROUP Headquarters 32 aven
show all

Registration Document BOUYGUES

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?