Slide 1: 2008 Results
2008 Results April 9, 2009 0 2008 Results
Slide 2: Changes in Bolloré's share price
CHANGES IN BOLLORÉ'S SHARE PRICE in euros (monthly averages) 160 140 120 100 80 60 40 20 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Bolloré SBF 250 indexé 1 2008 Results
Slide 3: Group structure at March 31, 2009
GROUP STRUCTURE AT MARCH 31, 2009 14,9 Compagnie du Cambodge SOFIBOL 5,0 Société Industrielle et Financière de l'Artois FINANCIÈRE DE L'ODET 54,1* 4,9 Financière Moncey 1,5 Nord-Sumatra Investissements 0,4 Imperial Mediterranean 67,1 99,9 4,0 Société Industrielle et Financière de l'Artois 3,8 Nord-S
Slide 4: 2008 Results
2008 RESULTS Overview: • Strong growth in revenue and operating income despite development costs for new activities. In € millions Revenue Operating income 2008 2007 2008 2007 Transportation and logistics, fuel distribution 6,895 5,980 316 277 Industry, media, telecoms, others 431 419 -192 -172 Tota
Slide 5: Key consolidated figures
KEY CONSOLIDATED FIGURES Headcount: 33 985 In € millions 2008 2007 Revenue 7,326 6,399 Operating income 124 105 Financial income 121 288 Share of income of affiliates (125) 39 Taxes (55) (84) Net income 65 348 of which Group share 50 322 Operating income +18%: very robust income from transportat
Slide 6: Key consolidated figures
KEY CONSOLIDATED FIGURES In € millions At December 31, 2008 At December 31, 2007 Shareholders’ equity 2,470 3,515 of which Group share 2,295 3,269 Net debt 1,398 1,301 Debt-to-equity ratio 0.57 0.37 Shareholders’ equity: €2,470m, after mark to market adjustment of shareholdings and the cancellatio
Slide 7: Revenue
REVENUE In € millions 2008 2007 Transportation and logistics 4,522 4,136 Fuel distribution 2,373 1,844 Industry 335 350 Media, telecoms, plantations and holding companies 96 69 Revenue 7,326 6,399 Revenue: +15% despite a negative foreign exchange effect of €90m. On a like-for-like and constant forex
Slide 8: Operating income by activity
OPERATING INCOME BY ACTIVITY In € millions 2008 2007 Transportation and logistics 297 251 Fuel distribution 18 26 Industry (99) (50) Media, telecoms, plantations and holding companies (92) (122) Operating income 124 105 Substantial rise in operating income from transportation and logistics (+18%).
Slide 9: Financial income
FINANCIAL INCOME In € millions 2008 2007 Dividends 25 35 Net cost of capital (72) (64) Other financial income and expenses 168 317 Total 121 288 Other financial income and expenses mainly includes: a capital gain of €358m on the sale of 3.6% of the Group's shareholdings in Vallourec (vs. €346m in 20
Slide 10: Share of income of affiliates
SHARE OF INCOME OF AFFILIATES In € millions 2008 2007 Share of income of affiliates (125) 39 Share of net income of affiliates primarily includes: Havas: a €34m share of income before a €209m write-down on the shares, despite a 25% increase in the Group share of Havas' net income to €104m. Plant
Slide 11: Cash flow statement
CASH FLOW STATEMENT In € millions December 31, 2008 December 31, 2007 Cash flow from operating activities 531 482 Capital gains and dividends from companies (342) (369) consolidated by equity method Change in WCR (+= reduction) (29) (44) Net cash flow from business 160 69 Net industrial investments
Slide 12: Parent company financial accounts / Dividend
PARENT COMPANY FINANCIAL ACCOUNTS / DIVIDEND In € millions 2008 2007 Operating income (25) (15) Financial income 17 177 Exceptional income (14) 81 Profit tax 62 27 Profit 40 270 Profit available for distribution: €695m Proposed dividend: €1.10 2008 2007 2006 2005 2004 Number of shares (in millions)
Slide 13: Transportation and logistics
TRANSPORTATION AND LOGISTICS In € millions 2008 2007 Revenue Revenue 4 4,522 522 4,136 +9% 297 251 +18% Operating Operating income income Investments(1)(1) Investments 174 202 Excellent results posted by International Logistics and Transportation and Logistics in Africa activities. Launch of Bol
Slide 14: International logistics
INTERNATIONAL LOGISTICS Robust growth maintained despite slower growth in international trade volumes and the ongoing shift from air traffic to maritime traffic. Development and targeted acquisitions strategy maintained with a view to expanding the international network: - joint acquisition of S
Slide 15: Transportation & logistics in Africa
TRANSPORTATION & LOGISTICS IN AFRICA Robust business growth in Africa and continued investments. 40% of income from activities in Africa generated in English-and Portuguese-speaking countries (20% five years ago). Western Africa: very strong results in Côte d’Ivoire (rise in volumes handled at
Slide 16: Fuel distribution
FUEL DISTRIBUTION In € millions 2008 2007 Revenue 2,373 1,844 Operating income 18 (1) 25 Investments 15 (2) 10 Revenue up 29% on the back of selling price increases and a sharp recovery in sales. Strong growth in operating income excluding a negative inventory effect linked to the decline in the
Slide 17: Industry
INDUSTRY In € millions 2008 2007 Revenue 335 350 Operating income (99) (1) (50) Investments 37 26 Increased expenditure dedicated to the development of new high-tech products : electric vehicles, electric batteries and supercapacitors. Earnings from other industrial activities include €17m in ex
Slide 18: Electric batteries, supercapacitors, electric vehicles
ELECTRIC BATTERIES, SUPERCAPACITORS, ELECTRIC VEHICLES R&D expenditure stepped up in electric batteries and supercapacitors. January 2008 launch of the industrial production unit for supercapacitors, able to manufacture one million units per year (representing an investment programme of €36m).
Slide 19: Plastic film, paper, dedicated terminals and systems (IER)
PLASTIC FILM, PAPER, DEDICATED TERMINALS AND SYSTEMS (IER) Plastic film: Rise in sales of dielectric film despite a substantial decline in demand over the second half. Sales of shrink wrap packaging were impacted by the drop in household consumption in Europe. The weak dollar and high commodit
Slide 20: Plantations
PLANTATIONS Very good earnings from plantations, which benefited from high average prices of palm oil (+20%) and rubber (+18%), despite the steep drop starting in the summer. Safa Cameroun (8,500 hectares of palm and rubber trees): 18% increase in oil production (12,800 tonnes) and 20% in rubber
Slide 21: Plantations
PLANTATIONS – Swiss farm (3,700 hectares of palm trees) in Cameroon: net income doubled to €0.6m vs €0.3m at end- 2007, thanks to a 31% rise in the average selling price. – Lac, in Liberia, (14,000 hectares of rubber trees): 4.2% rise in income to €7.4m, – SOGB, in Côte-d’Ivoire, (22,000 hectares of
Slide 22: Communication, media
COMMUNICATION, MEDIA Ongoing development of the communication-media activities Increased contribution of free television and press • Direct 8: - very sharp audience increase: tripled over one year (2.3% audience share in early 2009), - over 26 million TV viewers per month, - Personal mobile tele
Slide 23: Communication, media
COMMUNICATION, MEDIA Investment in advertising and market research • Havas (32.9%), excellent fiscal year 2008: - income of €1,568m, record organic growth of +4.7% among the highest in the sector, - operating income: €189m (+12.5%), - net income Group share: €104m (+25%), - net debt: €79m at Decem
Slide 24: Shareholdings
SHAREHOLDINGS Vallourec: - sale of 3.6% stake in 2008 for €400m, capital gain of €358m (vs. €346m in 2007), - reinforcement of the shareholding in 2008 and early 2009, bringing it to 5.7% at present (market value at April 3, 2009: €239m). Havas (1) (32.9%): - share in income of affiliates: €34m
Slide 25: Detailed consolidated accounts 2008
DETAILED CONSOLIDATED ACCOUNTS 2008 24 2008 Results
Slide 26: Detailed income statements
DETAILED INCOME STATEMENTS in thousands of euros 2008 2007 Revenue 7,325,578 6,399,384 External purchases and expenses (6,124,785) (5,283,834) Personnel expenses (922,576) (849,383) Amortisation, depreciation and provisions (146,653) (109,182) Other operating income and expenses (7,775) (51,734) Ope
Slide 27: Detailed balance sheet
DETAILED BALANCE SHEET in thousands of euros At December 31, 2008 At December 31, 2007 Assets Goodwill 990,104 968,181 Intangible assets 165,161 143,118 Tangible assets 991,382 926,674 Shareholdings consolidated under the 916,786 745,718 Other financial assets 1,052,685 2,282,024 Deferred taxes 29,2
Slide 28: Cash flow statement
CASH FLOW STATEMENT in thousands of euros 2008 2007 Cash flow from operations Net income Group share 50,344 321,605 Share of minority interests 15,196 26,839 Consolidated net income 65,54 348,444 Income and expenses without effect on cash flow: - elimination of amortisation and provisions 254,879 25
Slide 29: Change in shareholders' equity
CHANGE IN SHAREHOLDERS' EQUITY Additional- Fair value Shareholders' Number Treasury Conversion of Minority Capital paid in IAS 32 / Reserves equity, of shares sharse reserves interests capital 39 Group share in thousands of euros Shareholders' equity at December 31, 2006 23,098,279 395,218 235,614 (