Read the Registration Document - Guerbet

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Aged trial balance information for trade receivables at 31 December 2011 Cost Depreciation NetReceivables not due 64,495 (117) 64,378Receivables past due less than 3 months 8,086 (51) 8,035Receivables past due less than 6 months 4,546 (9) 4,537Receivables past due less than 1 year 6,563 (142) 6,421Receivables past due less than 2 years 3,466 (1,635) 1,831Receivables past due more than 2 years 785 (733) 52Total 87,941 (2,687) 85,254The balance of trade receivables outstanding at 31 December 2011 was reduced through non-recourseassignments of receivables for €1,598,000 in Italy and €1,237,000 in Spain in December 2011.1.2 – Financial assets measured at fair value through profit or loss2012 2011Financial assets measured at fair value through profit or loss excludingderivatives o.w.10,473 7,872Marketable securities - 3,536Cash at bank and in hand 10,473 4,336Total 10,473 7,872Foreign exchange and interest rate hedges generated a loss of €729,000 in 2011 compared with a gain of€888,000 in 2011.Marketable securities in 2010 and 2011 included OEIC money market funds (SICAV) and medium-termnotes. At 31 December 2012, the parent company no longer held such securities and placed €3,500,000 inan interest-bearing account, available at any time, offering a more attractive yield (1.2% per annum).SICAV 1 SICAV 2 Total2010 balance2011 purchases2011 disposalsNumber 27 -Value 3,479 - 3,479Number - 168Value - 37,419 37,419Number - 168Value - 37,419 37,419Number 27 -2011 balanceValue 3,479 - 3,47931/12/2011 Value 3,536 - 3,536Number - 9 -2012 purchasesValue - 2,020 2,020Number 27 9 -2012 disposalsValue 3,479 2,020 5,499Number - - -2012 balanceValue - - -31/12/2012 Value - - -85
1.3 – Financial assets given as collateralUnder the programme for the securitisation of trade receivables implemented in 2004, on 21 December2012 the Group assigned receivables of €20,121,000 that generated financing of €11,621,000.1.4 – Fair value of financial assetsFinancial instruments used for hedging foreign exchange and interest-rate risks are measured at fair valueand consequently marked to market. These valuations are carried out both by the financial institutions fromwhich Guerbet has obtained the financial instruments and by an independent firm. Provisions aremeasured and adjusted according to changes in value recognised for market instruments from one periodto another.Marketable securities are measured at the market price of 31 December.Note 2 – Financial liabilities2.0 - Breakdown of current and non-current financial liabilities2012 2011Current Non-current Total TotalBorrowings (Note 2.1) 42,439 67,043 109,482 107,911Trade payables 38,855 38,855 48,409Other payables (Note 2.6) o.w. 42,429 2,258 44,687 42,171Derivative financial instruments (see notes 3.4, 3.5 and 26) 2,258 2,258 -Total 123,723 69,301 193,024 198,4912.1 - Breakdown of current and non-current borrowings€ thousands 2012 2011Non-current borrowings o.w. 67,043 79,518Securitisation - 13,419Special profit-sharing reserve (blocked current accounts) 703 1,084Capital leases 2,347 1,775Medium-term borrowings 23,705 19,756Other borrowings 40,288 43,484Current borrowings o.w. 42,439 28,393Securitisation 11,621 -Capital leases 767 905Medium-term borrowings (maturities < 1 year) 5,885 320Other current borrowings and profit-sharing reserve 4,504 3,094Short-term bank loans & overdrafts 19,662 24,074Total borrowings 109,482 107,911This debt is primarily subject to floating-rate interest:2012 2011Floating-rate debt (before hedging) 96% 95%Fixed-rate debt 4% 5%86
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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
Page 36 and 37: II - Internal control and risk mana
Page 38 and 39: 4) Statutory Auditors’ report pre
Page 40 and 41: SHAREHOLDER INFORMATION1) The Guerb
Page 42 and 43: As at 31 December 2010SHARESVOTING
Page 44 and 45: considered to have automatically re
Page 46 and 47: 10) Provisions of the Articles of A
Page 48 and 49: c) Earnings highlightsIFRS(in thous
Page 50 and 51: 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 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 102 and 103: Change in net liabilities of the pe
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
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4) Auditors' report on the separate
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5) Auditors' special report on rela
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ORDINARY AND EXTRAORDINARY GENERAL
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RESOLUTION THREE (Special report of
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Extraordinary resolutionsRESOLUTION
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3) Report of the Board of Directors
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Application of legal provisions gov
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• 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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