Activities (1,3 MB) - Colruyt Group

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102 5.2.4. Salary costs and net salary in Belgium In EUR million In % Total salary costs 912,82 100% Employer’s NOSS contributions and insurance Gross remuneration of Belgian employees Employees’ NOSS contributions 210,36 702,46 76,95% 80,52 Withholding tax 137,84 Net salaries 484,10 53,03% The employees receive EUR 484,10 million net, or 68,91% of the gross wages of EUR 702,46 million. The employer NOSS contributions and other statutory insurance together amounted to EUR 210,36 million. The total annual payroll costs for Colruyt Group thus amount to EUR 912,82 million (EUR 702,46 million + EUR 210,36 million). Of this sum, the employees received EUR 484,10 million or 53,03% net. In the financial year 2011/2012, Colruyt Group paid an amount of EUR 290,88 million (EUR 210,36 million + 80,52 million) to the social security. 5.2.5. Contributions paid to the Belgian Treasury The total contribution transferred to the Belgian Treasury represents 55,18% of the added value generated by Colruyt Group in Belgium. This added value equals the operating income less the cost of goods sold less services and miscellaneous goods, or EUR 1,58 billion in Belgium. In EUR million Social Security 290,88 Withholding tax on salaries 137,84 Corporation tax on profits 142,38 Difference between payable and deductible VAT 275,88 Withholding tax on income from moveable assets 13,13 Withholding tax on income from property 6,54 Provincial and municipal taxes and other federal taxes 4,85 Total 871,50 5.2.6. Financial involvement 5.2.6.1. Profit participation As a sign of appreciation for everyone’s contribution and efforts, Colruyt Group allows all the employees in Belgium to share in the profit. A different system applies to the employees in France in accordance with the French laws. History of the profit participation in Belgium - Since 1988, a substantial group of executives have participated in the capital of the company through a collective shareholdership. - In 1996, a ‘personnel dividend’ was paid out for the first time. - In 2002, a number of group companies set up a system of profit participation together with the social partners, which was based on the Act of 22 May 2001 regarding the profit participation in the capital and in the profit of the companies. The Collective Labour Agreement was extended a number of times. - As from the financial year 2007/2008, the system was expanded to include all companies within the group, for the employees working in Belgium. The participation varies in accordance with the operating result of the past financial year. It consists of a basic amount which is multiplied by coefficients for salary, seniority and position. Part of this is paid out in cash or in shares of the parent company as desired.
In this manner, in total EUR 152,46 million was paid out to the personnel working in Belgium in the period 2002 to 2010. - As from the financial year 2010/2011, the profit participation is determined in accordance with the Act of 22 May 2001 regarding employee participation in the capital and the profit of the companies, as well as in accordance with the Collective Labour Agreement 90 (CAO 90) of 20 December 2007 regarding the non-recurrent results-linked benefits. The benefits of the CAO 90 can only be paid out in cash. Year Amount profit participation In EUR million 2001- 2010 2010- 2011 2011 – 2012 Total employees In EUR million Number of employees Cash Shares In EUR million Number of Shares Number of employees 152,46 101.136 79,61 61.763 72,85 2.504.540 39.373 9,89 14,95 24,84 8,97 15,62 24,59 19.605 5,54 14,95 20,49 20.877 5,55 15,62 21,17 11.985 4,35 101.339 7.620 13.797 3,42 97.196 7.080 TOTAL 201,89 121,27 80,62 2.703.075 5.2.6.2. Capital increase reserved for the personnel In order to allow the employees to share in the growth of the company, we stimulate them, since 1987, to participate in the capital. Via an annual reserved capital increase, the personnel can subscribe to shares of the parent company Etn. Fr. Colruyt NV at an advantageous price (within the statutory framework), which remains blocked for five years. During the most recent capital increase in November 2011, 2.171 employees subscribed for 225.194 shares, which represents a capital contribution of EUR 6,19 million. Since 1987, the employees of the Colruyt Group have already subscribed to (recalculated) 19.662.049 shares in their own company or in their parent company for a total amount of EUR 147,52 million. - A profit participation of EUR 8,97 million (62% in cash and 38% in shares) will be paid out for the financial year 2011/2012, subject to the approval of the General Assembly. The profit participation has been determined in accordance with the Act of 22 May 2001 regarding the employee participation in the capital and the profit of the companies. In addition, an amount of EUR 15,62 will be distributed in accordance with the CAO 90 of 20 December 2007 regarding non-recurrent results-linked benefits. The total profit participation thus amounts to EUR 24,59 million. Year Amount in EUR million Number of shares From 1987 to 2008 103,69 18.214.375 2009 13,74 506.895 2010 23,90 715.585 2011 6,19 225.194 TOTAL 147,52 19.662.049 annual report 2011•2012 00 01 02 03 04 05 103
Page 1 and 2: 03 Activities Retail ..............
Page 3 and 4: 3 Other activities • DATS 24: pet
Page 5 and 6: 343.003m2 total store surface area
Page 7 and 8: 1.2. OKay • Combined revenue OKay
Page 9 and 10: 1.4. DreamLand, DreamBaby and Colli
Page 11 and 12: In order to increase the interactio
Page 13 and 14: Developments Due to lower consumer
Page 15 and 16: custom-made and supervised by Intri
Page 17 and 18: With the roll-out of automatic stoc
Page 19 and 20: The Belgian foodservice companies C
Page 21 and 22: 3. Other activities 3.1. DATS 24 1
Page 23 and 24: to the external market more and mor
Page 25 and 26: annual report 2011•2012 00 01 02
Page 27 and 28: 4.2. Communication The internal com
Page 29 and 30: 5. Annexes 5.1. Activities 5.1.1. R
Page 31: 5.2. Personnel 5.2.1. Job creation

Activities (1,3 MB) - Colruyt Group

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