financial report and registration document 2011 - Groupe SEB

More documents

Recommendations

Info

5 Financial Consolidated fi nancial statements statements Consolidated cash fl ow statement Years ended 31 December (in € millions) 2011 2010 2009 PROFIT ATTRIBUTABLE TO OWNERS OF THE PARENT 234.6 220.4 146.0 Depreciation, amortisation and impairment losses (Notes 10 and 11) 113.0 117.6 123.6 Change in provisions (Note 21) (14.4) (4.2) 17.6 Unrealised gains and losses on fi nancial instruments (Note 25) 7.5 (8.4) 7.1 Income and expenses related to stock options (Note 19.2) 5.0 6.2 6.0 Gains and losses on disposals of assets (14.0) 1.8 0.4 Other 0.1 0.1 Non-controlling interests (Note 20) 26.4 23.2 16.8 Current and deferred taxes (Note 8) 112.4 89.4 58.1 Finance costs, net (Note 7) 20.1 12.0 22.6 CASH FLOW (a) 490.4 458.0 398.3 Change in inventories (Note 15) (41.9) (138.6) 155.9 Change in trade receivables (Note 16) (83.1) (67.4) 31.3 Change in trade payables (Note 23) 9.6 82.1 28.1 Change in other receivables and payables (Notes 17 and 23) (23.4) 35.0 24.8 Income taxes paid (89.7) (100.9) (58.3) Interest paid, net (20.1) (12) (22.5) NET CASH FROM OPERATING ACTIVITIES 241.8 256.1 557.6 Proceeds from disposals of assets (Note 11) 21.7 20.9 6.5 Purchases of property, plant and equipment (Note 11) (111.9) (120.6) (92.2) Purchases of software and other intangible assets (Note 10) (18.6) (20.2) (17.0) Purchases of fi nancial assets (Note 13) (1.0) 0.3 0.4 Acquisitions of subsidiaries, net of the cash acquired (Note 2) (103.1) 0.0 Effect of other changes in scope of consolidation (Note 2) 0.1 NET CASH USED BY INVESTING ACTIVITIES (212.9) (119.6) (102.2) Change in long-term borrowings (Note 24) 332.2 (99.3) 87.6 Change in short-term borrowings (Note 24) 101.3 (80.1) (419.4) Transactions between owners (Note 20) (407.9) 0.7 Change in treasury stock (Note 19.4) (34.4) 33.4 8.8 Dividends paid, including to non-controlling shareholders (66.8) (55.9) (50.2) NET CASH USED BY FINANCING ACTIVITIES (75.7) (201.9) (372.5) Effect of changes in foreign exchange rates 6.1 (5.8) 0.3 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (40.7) (71.2) 83.2 Cash and cash equivalents at beginning of period (Note 18) 236.6 307.8 224.6 Cash and cash equivalents at end of period (Note 18) 196.0 236.6 307.8 (a) Before interest paid, net and income taxes paid. 80 GROUPE SEB Financial Report and Registration Document 2011
Consolidated statement of changes in equity (in € millions) Share capital Financial Report and Registration Document 2011 Share premium account Other reserves and retained earnings Translation reserve 5 Consolidated fi nancial statements Financial statements Treasury stock Equity attributable to owners of the parent Noncontrolling interests Equity AT 31 DECEMBER 2008 50.9 107.9 872.3 25.5 (150.7) 905.9 131.6 1,037.5 Profi t for the period 145.9 145.9 16.9 162.8 Other comprehensive income 41.7 13.0 54.7 (4.8) 49.9 Comprehensive income 0.0 0.0 187.6 13.0 0.0 200.6 12.1 212.7 Dividends paid (45.4) (45.4) (4.8) (50.2) Issue of share capital 0.7 0.7 0.7 Reduction of share capital 0.0 0.0 Changes in treasury stock Gains (losses) on sales of treasury (0.9) (29.7) 41.9 11.3 11.3 stock, after tax (2.5) (2.5) (2.5) Exercise of stock options 6.0 6.0 6.0 Other movements 4.7 4.7 (0.1) 4.6 AT 31 DECEMBER 2009 (NOTE 19) 50.0 78.9 1,022.7 38.5 (108.8) 1,081.3 138.8 1,220.1 Profi t for the period 220.4 220.4 23.2 243.6 Other comprehensive income 7.6 95.8 103.4 15.8 119.2 Comprehensive income 0.0 0.0 228.0 95.8 0.0 323.8 39.0 362.8 Dividends paid (51.2) (51.2) (4.7) (55.9) Issue of share capital 0.0 0.0 Reduction of share capital 0.0 0.0 Changes in treasury stock Gains (losses) on sales of treasury 47.1 47.1 47.1 stock, after tax (9.0) (9.0) (9.0) Exercise of stock options 6.2 6.2 6.2 Other movements (1.4) 1.4 0.0 0.0 AT 31 DECEMBER 2010 (NOTE 19) 50.0 78.9 1,195.3 135.7 (61.7) 1,398.2 173.1 1,571.3 Profi t for the period 234.5 234.5 26.4 260.9 Other comprehensive income (8.5) 24.4 15.9 15.0 30.9 Comprehensive income 0.0 0.0 226.0 24.4 0.0 250.4 41.4 291.8 Dividends paid (58.4) (58.4) (8.4) (66.8) Issue of share capital 0.0 0.0 Reduction of share capital 0.0 0.0 Changes in treasury stock Gains (losses) on sales of treasury (31.6) (31.6) (31.6) stock, after tax (1.9) (1.9) (1.9) Exercise of stock options 5.0 5.0 5.0 Other movements (a) (348.5) 25.2 (323.3) (82.7) (406.0) AT 31 DECEMBER 2011 (NOTE 19) 50.0 78.9 1,017.5 185.3 (93.3) 1,238.4 123.4 1,361.8 2011 recommended dividend (62.4) (62.4) (62.4) 2011 50.0 78.9 955.1 185.3 (93.3) 1,176.0 123.4 1,299.4 (a) “Other movements” for 2011 mainly correspond to the impact of the Group’s buyout of the 20% non-controlling interests in ZJ Supor on 13 December 2011. GROUPE SEB 5 81
Page 1 and 2:
FINANCIAL REPORT and REGISTRATION D
Page 3 and 4:
This Registration Document was fi l
Page 5 and 6:
1Presentation of the Group 1.1. KEY
Page 7 and 8:
Financial Report and Registration D
Page 9 and 10:
1.3. BUSINESS SECTORS As a global l
Page 11 and 12:
1.4. GROUP STRATEGY A long-term str
Page 13 and 14:
In 2011, with only a few rare excep
Page 15 and 16:
for an amount of €465 million, mo
Page 17 and 18:
policy (monitored by a Steering Com
Page 19 and 20:
INTEREST-RATE RISK AND CURRENCY RIS
Page 21 and 22:
2Corporate governance 2.1. BOARD OF
Page 23 and 24:
DAMARYS BRAIDA Member of the Founde
Page 25 and 26:
JEAN-NOËL LABROUE Independent dire
Page 27 and 28:
Page 29 and 30:
Attendance fees The maximum amount
Page 31 and 32: 2.3. GROUP MANAGEMENT BODIES Group
Page 33 and 34: BENEFITS IN KIND Thierry de La Tour
Page 35 and 36: TABLE 4 Stock option allocation for
Page 37 and 38: TABLE 10 General information about
Page 39 and 40: � respect for rules governing div
Page 41 and 42: THE INFORMATION SYSTEMS DEPARTMENT
Page 43 and 44: Financial Report and Registration D
Page 45 and 46: 3Corporate, social and environmenta
Page 49 and 50: Breakdown of changes in staffi ng (
Page 51 and 52: Persons with disabilities (Worldwid
Page 53 and 54: Overtime (Worldwide) 2011: In Franc
Page 55 and 56: Bonuses and profi t sharing (France
Page 59 and 60: 3 Corporate, social and environment
Page 61 and 62: 4Commentary on the fi nancial year
Page 63 and 64: 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: Consolidated balance sheet At 31 De
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 111 and 112: NOTE 19 EQUITY Note 19.1. SHARE CAP
Page 113 and 114: Note 19.3. RESERVES AND RETAINED EA
Page 115 and 116: 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 137 and 138:
Page 139 and 140:
Specifi c verifi cation Financial R
Page 141 and 142:
6Company fi nancial statements 6.1.
Page 143 and 144:
Page 145 and 146:
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 155 and 156:
Page 157 and 158:
6.4. STATUTORY AUDITORS’ REPORT O
Page 159 and 160:
7Information on the Company and its
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
7.3. FINANCIAL AUTHORISATIONS Finan
Page 169 and 170:
HOLDING CONDITIONS APPLICABLE TO TH
Page 171 and 172:
7.5. STOCK MARKET AND DIVIDEND INFO
Page 173 and 174:
8Annual General Meeting 8.1. REPORT
Page 175 and 176:
Board of Directors Financial Report
Page 177 and 178:
Page 179 and 180:
8.3. PROPOSED RESOLUTIONS Proposed
Page 181 and 182:
AUTHORISATION TO TRADE IN THE COMPA
Page 183 and 184:
AUTHORISATION TO MAKE PERFORMANCE S
Page 185 and 186:
� that the Board of Directors sha
Page 187 and 188:
SEVENTEENTH RESOLUTION: EMPLOYEE SH
Page 189 and 190:
9Additional information 9.1. CONSUL
Page 191 and 192:
Page 193 and 194:
Fees paid to Statutory auditors The
Page 195 and 196:
Page 197 and 198:
9.6. REGISTRATION DOCUMENT CROSS- R
Page 199 and 200:
21 - ADDITIONAL INFORMATION Financi
Page 201 and 202:
NOTES Financial Report and Registra
Page 203 and 204:
FINANCIAL AGENDA 2012 26 APRIL AFTE
show all

financial report and registration document 2011 - Groupe SEB

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

Delete template?

Save as template?