financial report and registration document 2011 - Groupe SEB

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5 Notes Consolidated fi nancial statements to the consolidated fi nancial statements Assumptions France 2011 Germany 2011 Economic assumptions Rate of salary increases 3.00% 2.50% Discount rate 4.75% 4.75% Expected return on plan assets 3.95% Average remaining service life of participating employees Demographic assumptions 6 to 9 years Retirement age 60 to 65 (a) RRG 2007 Staff turnover 0% to 11% Mortality tables INSEE TV 2007-2009 HEUBECK 2005 G (a) Depending on the age of employees and their category (management or other). Assumptions France 2010 Germany 2010 Economic assumptions Rate of salary increases 3.00% 2.50% Discount rate 4.25% 4.25% Expected return on plan assets 4.00% Average remaining service life of participating employees Demographic assumptions 7 to 9 years Retirement age 60 to 65 (a) RRG 2007 Staff turnover 0% to 11% Mortality tables INSEE TV 2006-2008 HEUBECK 2005 G (a) Depending on the age of employees and their category (management or other) Assumptions France 2009 Germany 2009 Economic assumptions Rate of salary increases 3.00% 2.50% Discount rate 5.25% 5.25% Expected return on plan assets 4.50% Average remaining service life of participating employees Demographic assumptions 7 to 10 years Retirement age 60 to 65 (a) RRG 2007 Staff turnover 0% to 11% (a) Mortality tables INSEE TV 2004-2006 HEUBECK 2005 G (a) Depending on the age of employees and their category (management or other). 114 GROUPE SEB Financial Report and Registration Document 2011
Financial Report and Registration Document 2011 5 Consolidated fi nancial statements Notes to the consolidated fi nancial statements Note 22.2. ANALYSIS OF PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS The total obligation breaks down as follows: (in € millions) 2011 France Germany Other countries Total Projected benefi t obligation based on fi nal salaries 83.0 57.7 28.3 169.0 Present value of plan assets (32.1) (2.8) (14.0) (48.9) DEFICIT 50.9 54.9 14.3 120.1 Unrecognised gains and (losses) (23.1) (3.9) (3.2) (30.2) Initial benefi t obligation 0.0 Unrecognised past service cost 0.0 Recognised liability Recognised asset 27.8 51.0 11.1 89.9 NET 27.8 51.0 11.1 89.9 (in € millions) France Germany Other countries 2010 Total Projected benefi t obligation based on fi nal salaries 82.6 62.2 25.6 170.4 Present value of plan assets (32.8) (2.5) (13.8) (49.1) DEFICIT 49.8 59.7 11.8 121.3 Unrecognised gains and (losses) Initial benefi t obligation Unrecognised past service cost (26.6) (7.8) (2.9) (37.3) Recognised liability Recognised asset 23.2 51.9 8.9 84.0 NET 23.2 51.9 8.9 84.0 (in € millions) France Germany Other countries 2009 Total Projected benefi t obligation based on fi nal salaries 68.7 56.7 20.0 145.4 Present value of plan assets (26.2) (2.3) (10.8) (39.3) DEFICIT 42.5 54.4 9.2 106.1 Unrecognised gains and (losses) Initial benefi t obligation Unrecognised past service cost (19.6) (1.6) (0.9) (22.1) Recognised liability Recognised asset 22.9 52.8 8.3 84.0 NET 22.9 52.8 8.3 84.0 Obligations for the payment of jubilees, calculated using the same actuarial assumptions as for pension obligations, amounted to €5.7 million at 31 December 2011, €6.0 million at 31 December 2010 and €5.7 million at 31 December 2009. GROUPE SEB 5 115
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FINANCIAL REPORT and REGISTRATION D
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This Registration Document was fi l
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1Presentation of the Group 1.1. KEY
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Financial Report and Registration D
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1.3. BUSINESS SECTORS As a global l
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1.4. GROUP STRATEGY A long-term str
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In 2011, with only a few rare excep
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for an amount of €465 million, mo
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policy (monitored by a Steering Com
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INTEREST-RATE RISK AND CURRENCY RIS
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2Corporate governance 2.1. BOARD OF
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DAMARYS BRAIDA Member of the Founde
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JEAN-NOËL LABROUE Independent dire
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Attendance fees The maximum amount
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2.3. GROUP MANAGEMENT BODIES Group
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BENEFITS IN KIND Thierry de La Tour
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TABLE 4 Stock option allocation for
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TABLE 10 General information about
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� respect for rules governing div
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THE INFORMATION SYSTEMS DEPARTMENT
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3Corporate, social and environmenta
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Breakdown of changes in staffi ng (
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Persons with disabilities (Worldwid
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Overtime (Worldwide) 2011: In Franc
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Bonuses and profi t sharing (France
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3 Corporate, social and environment
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4Commentary on the fi nancial year
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Raw materials The Group’s busines
Page 65 and 66: Groupe SEB receives recognition As
Page 67 and 68: Quarterly curve of 2010 organic gro
Page 69 and 70: In North America, 2011 was marked b
Page 71 and 72: in 2010 to €261 million in 2011)
Page 73 and 74: Cash fl ow and investment In €M 3
Page 75 and 76: 4.5. FINANCIAL REVIEW OF SEB S.A. S
Page 77 and 78: 5Consolidated fi nancial statements
Page 79 and 80: 5.2. CONSOLIDATED RATIOS (in %) 201
Page 81 and 82: Consolidated balance sheet At 31 De
Page 83 and 84: Consolidated statement of changes i
Page 85 and 86: 5.4. NOTES TO THE CONSOLIDATED FINA
Page 87 and 88: The assumptions used - which mainly
Page 89 and 90: Derivative instruments designated a
Page 91 and 92: C) RESTRUCTURING PROVISIONS The Gro
Page 93 and 94: The provisional value assigned to t
Page 95 and 96: (in € millions) France Financial
Page 97 and 98: Note 3.2. REVENUE BY GEOGRAPHICAL L
Page 99 and 100: � €1 million in compensation co
Page 101 and 102: NOTE 8 INCOME TAXES Note 8.1. INCOM
Page 103 and 104: NOTE 9 EARNINGS PER SHARE Financial
Page 105 and 106: The discount rates used were determ
Page 107 and 108: 2009 (in € millions) Land Buildin
Page 109 and 110: Financial Report and Registration D
Page 111 and 112: NOTE 19 EQUITY Note 19.1. SHARE CAP
Page 113 and 114: Note 19.3. RESERVES AND RETAINED EA
Page 115: Note 21.1. PRODUCT WARRANTIES Provi
Page 121 and 122: NOTE 23 TRADE PAYABLES AND OTHER LI
Page 123 and 124: Note 24.2. NET DEBT Financial Repor
Page 125 and 126: Non-current financial assets consis
Page 127 and 128: currencies are partly hedged by mea
Page 129 and 130: The following table analyses fi nan
Page 131 and 132: (in € millions) Expenses Financia
Page 133 and 134: IFRIC interpretation no. 6 adopted
Page 135 and 136: NOTE 32 LIST OF CONSOLIDATED COMPAN
Page 139 and 140: Specifi c verifi cation Financial R
Page 141 and 142: 6Company fi nancial statements 6.1.
Page 147 and 148: Note 2.3. NON-CURRENT FINANCIAL ASS
Page 149 and 150: NOTE 4 OTHER RECEIVABLES Financial
Page 151 and 152: NOTE 9 ACCRUALS ACCOUNTS Note 9.1.
Page 153 and 154: NOTE 13 OFF-BALANCE SHEET COMMITMEN
Page 157 and 158: 6.4. STATUTORY AUDITORS’ REPORT O
Page 159 and 160: 7Information on the Company and its
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7.3. FINANCIAL AUTHORISATIONS Finan
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HOLDING CONDITIONS APPLICABLE TO TH
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7.5. STOCK MARKET AND DIVIDEND INFO
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8Annual General Meeting 8.1. REPORT
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Board of Directors Financial Report
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8.3. PROPOSED RESOLUTIONS Proposed
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AUTHORISATION TO TRADE IN THE COMPA
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AUTHORISATION TO MAKE PERFORMANCE S
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� that the Board of Directors sha
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SEVENTEENTH RESOLUTION: EMPLOYEE SH
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9Additional information 9.1. CONSUL
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Fees paid to Statutory auditors The
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9.6. REGISTRATION DOCUMENT CROSS- R
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21 - ADDITIONAL INFORMATION Financi
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NOTES Financial Report and Registra
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FINANCIAL AGENDA 2012 26 APRIL AFTE
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