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Change in net liabilities of the period 2012 2011Opening net liabilities 16,871 13,157Service costs of the year 1,731 1,251Finance costs 660 540Projected return of plan assets (59) (58)Employer contributions to financing assets (228) (277)Benefits paid (867) (1,099)Actuarial gains and losses 2,811 3,216Foreign currency translation adjustments 21 (14)Past service costs - -Changes in consolidation scope - -Reduction of future service - -Liquidation of future service - -Other (13) 155Closing net liabilities 20,927 16,871Change in hedged assets 2012 2011Market value of funds invested at 1 January 4,181 3,940Projected return of funds 59 58Actuarial gains and losses (9) 3Currency translation adjustments - -Employer contributions 228 277Employee contributions - -Benefits paid (98) (97)Change in Group structure (consolidation) - -Plan reductions - -Plan liquidations - -Market value of funds invested at 31 December 4,361 4,181Note 13 – Other revenue from ordinary activities2012 2011Sold production - services 759 929Operating grants 1,758 2,561Total 2,517 3,490Note 14 – Staff costs14.1 – 1 Analysis of staff costs2012 2011Salaries and wages (74,131) (71,216)Social security charges (29,614) (28,974)Employee profit-sharing (889) (297)Amortisation of share-based payment (630) (137)Total (105,264) (100,624)101
14.2 – Group share-based payment highlightsThe binomial options pricing model is applied for the fair value measurement of options granted. Under thismethod, it is possible to measure the value of options able to be exercised at any time during the option life.The value of the option thus defined is decreased by the conveyance costs resulting from restrictions to sellshares from the exercise of options prior to the fourth anniversary date of the plan.This imputed cost is determined on a price risk-neutral basis whereby the employee is able to exercise theoption at any time. This strategy consists in purchasing the share on the cash market by borrowing thefunds required and in exchange to sell forward the security. The cost of this approach is a financial expensethat represents a borrowing cost reduced by dividends.14.2.1 - Highlights of share-based payments under plans in force at 31/12/2012Grant dateNumbergrantedShare price ondate of grantVolatilityRisk-freerateExercise priceVesting period26 March 2009 6,000 € 112.20 35 % 3.80% € 112.26 2 years17 October 2011 132,710 € 66.30 35 % 2.77 % € 61.60 4 years23 November 2011 12,000 € 67.20 35 % 2.77 % € 64.30 4 years20 February 2012 1,700 € 61.50 35 % 2.77 % € 61.50 4 years14.2.2 – Breakdown of benefits per financial year for plans in force in 2012Grant date 26 March 2009 17 October 2011 23 November 2011 20 February 2012 Total2011 10 121 6 1372012 591 53 6 6502013 590 53 8 6512014 590 53 8 6512015 468 47 7 5222016 1 1Total 10 2,360 212 30 2,61214.2.3 – Impact on the balance sheetThese benefits are recognised every year according to the number of options that remain to be exercised inexchange for equity.14.3 – Average number of personnel during the yearThe average number of personnel for Guerbet Group in 2012 was 1,374 employees. The following tablesprovide a breakdown of this workforce by employee category and activity for the last three financial periods.YearManagementTechnicians/WorkersSupervisors,Medical salesPlant workers Totalrepresentatives2012 361 707 306 1,3742011 345 689 312 1,3462010 327 683 304 1,314Year Supply Chain CommercialResearch &developmentSupportfunctionsTotal2012 575 306 208 285 1,3742011 567 301 205 273 1,3462010 542 300 201 271 1,314102
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CONTENTSCHIEF EXECUTIVE OFFICERS’
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CHIEF EXECUTIVE OFFICERS’ MESSAGE
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THE GUERBET GROUP1) History of the
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3) Business overview3.1 Guerbet is
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3.4 The pathologiesIn Oncology, the
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Guerbet's offering of products is c
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c) Research & development• R&D ob
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• A proactive partnering strategy
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5) Group organisation at 31 Decembe
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e) DistributionGuerbet distribute i
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DirectorsOther offices and director
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There exist no arrangements or unde
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Summary of compensation for Marie-C
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• Stock options granted to non-of
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I - 1Organisation of the work of th
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"Research and Innovation" Committee
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II - Internal control and risk mana
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4) Statutory Auditors’ report pre
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SHAREHOLDER INFORMATION1) The Guerb
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As at 31 December 2010SHARESVOTING
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considered to have automatically re
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10) Provisions of the Articles of A
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c) Earnings highlightsIFRS(in thous
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g) OutlookStrongly focused on the n
Page 52 and 53: 3) Risk factorsThe company conducte
Page 54 and 55: • Sourcing risksGuerbet has an ex
Page 56 and 57: • Information technology risksAn
Page 58 and 59: • Five-year summary of consolidat
Page 60 and 61: • Other information included in t
Page 62 and 63: • Recruitment and dismissalsGuerb
Page 64 and 65: and employee savings. The goal is s
Page 66 and 67: • Measures adopted to promote emp
Page 68 and 69: ) Pollution and waste managementThe
Page 70 and 71: 3) Societal informationa) Territori
Page 72 and 73: • Consolidated income statementIn
Page 74 and 75: In thousands of euros• Statement
Page 76 and 77: Changes in standards and interpreta
Page 78 and 79: g) Research and development expendi
Page 80 and 81: Held to maturity investmentsHeld-to
Page 82 and 83: creation are recorded under "Other
Page 84 and 85: III) Notes to the financial stateme
Page 86 and 87: Aged trial balance information for
Page 88 and 89: 2.2 - Borrowings by currencyCurrenc
Page 90 and 91: 3.3 - Analysis of the sensitivity o
Page 92 and 93: Revenue2012European companiesfor th
Page 94 and 95: In 2005, the Group acquired for ¥5
Page 96 and 97: 6.2 - Analysis of property, plant a
Page 98 and 99: The change in the net value of inve
Page 100 and 101: 12.2 - Accrued employee benefitsa)
Page 104 and 105: 14.4 - Personnel by region at year-
Page 106 and 107: Note 22 - Research and development
Page 108 and 109: Note 25 - Related parties25.1 - Rel
Page 110 and 111: Note 27 - Basic earnings per share
Page 112 and 113: 2) Auditors’ report on the consol
Page 114 and 115: 3) Parent company financial stateme
Page 116 and 117: • Income statementIn thousands of
Page 118 and 119: • Statement of cash flowsIn milli
Page 120 and 121: c) Property, plant and equipmentPro
Page 122 and 123: Note 1 - Intangible assets1 - 1 - C
Page 124 and 125: Note 6 - Receivables by maturityCos
Page 126 and 127: Note 9 - Regulated provisionsInvest
Page 128 and 129: Note 13 - Sales by region2012 2011F
Page 130 and 131: Tax income or expense recorded in t
Page 132 and 133: Debt waiver agreements granted to a
Page 134 and 135: Capital lease commitments relative
Page 136 and 137: 4) Auditors' report on the separate
Page 138 and 139: 5) Auditors' special report on rela
Page 140 and 141: ORDINARY AND EXTRAORDINARY GENERAL
Page 142 and 143: RESOLUTION THREE (Special report of
Page 144 and 145: Extraordinary resolutionsRESOLUTION
Page 146 and 147: 3) Report of the Board of Directors
Page 148 and 149: Application of legal provisions gov
Page 150 and 151: • Tenth draft resolution: stock s
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2) The Statutory Auditorsa) Statuto
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6) Articles of association (selecte
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7) 2013 shareholders calendarEventD
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) Annual financial reportInformatio
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