Annual Report 2011 - Analist.be

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Accounts at 31 December 2011 - Notes4.2. Details on personnel costsIn EUR million 2011 2010 2009Remuneration (4.9) (5.2) (4.9)Social security (1.0) (1.1) (1.0)Contribution to defined benefit pension plans (1.2) (1.4) (0.9)Other (0.5) (0.3) (0.3)Total personnel costs – investing activities (7.6) (8.0) (7.1)Remuneration (447.1) - -Social security (97.9) - -Contribution to defined benefit pension plans (27.3) - -Other (0.7) - -Total personnel costs – consolidated operating activities (573.0) - -Remuneration for GBL Directors and contributions to their pension plans are shown under “Services and miscellaneous goods”.5. Résultat financierIn EUR million 2011 2010 2009Interest income on net cash and non-current assets 6.0 7.3 14.3Interest expenses on financial debts (36.2) (21.9) (26.1)Results on trading assets and derivatives (8.2) (6.5) (16.1)Other financial income/(expenses) (5.4) (3.3) 6.1Financial income and expenses – investing activities (43.8) (24.4) (21.8)Interest income on net cash and non-current assets 2.0 - -Interest expenses on financial debts (52.8) - -Results on trading assets and derivatives 0.7 - -Other financial expenses (0.2) - -Financial income and expenses – operating activities (50.3) - -Interest income and expenses related to investing activities totalled EUR - 30 million (compared to EUR - 15 million in 2010).This change results on the one hand from the higher interest expenses related to the 2017 bond issue (EUR 350 million) finalisedat the end of June 2010 and the cost of financing the 2011 acquisition of Imerys shares in the amount of more than EUR 1 billion.Results on trading assets and derivatives in the amount of EUR - 8 million stemmed primarily from the result of settlementof an interest rate swap (EUR 4 million) counterbalanced by the result on stock options (EUR - 7 million) and the mark to marketon the trading portfolio (EUR - 8 million). The results of EUR - 7 million and EUR - 16 million for the periods compared mainlyinclude the impact of the interest rate swap.Financial income and expenses on consolidated operating activities resulted essentially from interest expenses on Imerys’ debt,for an amount of EUR 44 million.92 Annual Report 2011
6. TurnoverIn EUR million 2011 2010 2009Sales of goods 2,580.3 - -Services 370.1 - -Other 0.6 - -Total 2,951.0 - -7. Intangible assetsIn EUR millionDevelopmentcostsSoftwareMiningrightsPatents,licences andconcessions Other TotalGross carrying amountAt 31 December 2008 - - - - - -Investments - - - - - -Group structure changes/Business combinations - - - - - -Transfers between categories - - - - - -Disposals and withdrawals - - - - - -Currency translation adjustments - - - - - -Other - - - - - -At 31 December 2009 - - - - - -Investments - - - - - -Group structure changes/Business combinations 1.9 - - 5.7 6.5 14.1Transfers between categories - - - - - -Disposals and withdrawals - - - - - -Currency translation adjustments - - - - - -Other - - - - - -At 31 December 2010 1.9 - - 5.7 6.5 14.1Investments 9.9 2.6 0.1 1.3 1.9 15.8Group structure changes/Business combinations 21.3 69.5 19.8 17.1 30.4 158.1Transfers between categories 0.3 0.3 (0.2) 0.2 (1.0) (0.4)Disposals and withdrawals - (1.0) (2.9) - (0.3) (4.2)Currency translation adjustments 0.2 2.8 (1.0) 0.2 1.8 4.0Other 0.1 - - 1.4 49.9 51.4At 31 December 2011 33.7 74.2 15.8 25.9 89.2 238.8Accounts at 31 December 2011Annual Report 2011 93
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Annual Report2011 Groupe Bruxelles
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Responsible persons1 Responsibility
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Message to shareholdersLadies and G
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Stock Exchange dataShareholder info
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Selected Portfolio and financial ad
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Consolidated result analysisThe tab
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Consolidated figures IFRSIn 2011, t
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20 Annual Report 2011
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Total is a global, integrated oil a
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GDF SUEZ is a world reference energ
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Overview of the activities - GDF SU
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The world’s co-leader in Wine & S
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Main financial data30 June 2011 30
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With a presence in 64 countries, La
Page 45 and 46: Environment variables and operating
Page 47 and 48: Data on Stock Exchange and on GBL
Page 49 and 50: Percentage of share capital .......
Page 51 and 52: Environment variables and operating
Page 54 and 55: Suez Environnement is a global lead
Page 58 and 59: Overview of the activities - Suez E
Page 62 and 63: Overview of the activities - Arkema
Page 64 and 65: Overview of the activities - Arkema
Page 66 and 67: Other investmentsIberdrola(http://w
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Page 70 and 71: Consolidated balance sheet at 31 De
Page 72 and 73: Consolidated statement of changes i
Page 74 and 75: Accounting policiesGroupe Bruxelles
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Page 79 and 80: Pension liabilities and similar obl
Page 81 and 82: When such estimates are established
Page 83 and 84: Changes in group structureThe most
Page 85: NotesFor the sake of consistency, t
Page 88 and 89: Accounts at 31 December 2011 - Note
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Page 99 and 100: In EUR millionLand andbuildingsMine
Page 101 and 102: 11. InventoriesIn EUR million 2011
Page 103 and 104: Bank loans (GBL)GBL drew on its cre
Page 105 and 106: 16. ProvisionsIn EUR million Legal
Page 107 and 108: Asset plan distributionIn % 2011 20
Page 109 and 110: 18. Other current liabilitiesIn EUR
Page 111 and 112: 19.2. Change in net balance sheet p
Page 113 and 114: ImerysImerys has put in place an in
Page 115: Fair value and carrying amountTo re
Page 118 and 119: Statutory Auditor’s report116 Ann
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Page 122 and 123: Dividend policyThe profit appropria
Page 124 and 125: Accounts at 31 December 2011 - Hist
Page 126 and 127: Corporate governance statementIan G
Page 128 and 129: Corporate governance statement1.1.2
Page 130 and 131: Corporate governance statementGéra
Page 132 and 133: Corporate governance statementAmaur
Page 134 and 135: Corporate governance statementNumbe
Page 136 and 137: Corporate governance statementThe a
Page 138 and 139: Corporate governance statementThe t
Page 140 and 141: Corporate governance statement3.2.
Page 142 and 143: Corporate governance statement3.4.1
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6. Risk management and internal con
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Six specific risks have been identi
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7. Policy on conflicts of interestC
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Extract of the minutes of the meeti
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Chain of ownershipPaul G.Desmarais6
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9.3.3. Organisation chart of shareh
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11.9. Capital11.9.1. Issued capital
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Resolutions proposed to shareholder
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• Regent and Member of the Budget
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Paul DesmaraisVice-Chairman of the
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• Director of 152245 Canada Inc.
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List of activities and other mandat
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• Director of Pargesa Holding S.A
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• Director of Great-West Lifeco I
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Amaury de SezeDirectorList of activ
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• Director of 4400046 Canada Inc.
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Gross annual returnThe gross annual
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Groupe Bruxelles Lambertwww.gbl.be
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