sain t-gobain annu al report 2008 annual report

More documents

Recommendations

Info

The level of coverage is considered as compatible with the Group’s US operations. Exclusions are in line with current market practice in the United States and primarily concern contractual liability and third party consequential loss. Within the operating units, action is taken to raise awareness of liability risks. In the case of a claim, the deductible is paid directly by the unit concerned, representing an added incentive to contain these risks. Deductibles do not, however, constitute self-insurance. Saint-Gobain also runs a risk prevention program at its operating units with the support of the Environment, Health and Safety Department. Exceptions Joint ventures and companies not controlled by the Group are excluded from the above programs. These entities purchase separate insurance coverage, based on the advice of the Risks and Insurance Department. 126 Saint-Gobain - 2008 Annual Report
Consolidated financial statements 128 • Consolidated balance sheet 130 • Consolidated income statement 131 • Consolidated cash flow statement 132 • Statement of recognized income and expense 133 • Consolidated statement of changes in equity 134 • Notes to the consolidated financial statements 134 • Note 1 - Accounting principles and policies 143 • Note 2 - Changes in group structure 145 • Note 3 - Goodwill 146 • Note 4 - Other intangible assets 147 • Note 5 - Property, plant and equipment 148 • Note 6 - Investments in associates 149 • Note 7 - Other non-current assets 150 • Note 8 - Inventories 150 • Note 9 - Trade and other accounts receivable 150 • Note 10 - Equity 151 • Note 11 - Stock option plans 153 • Note 12 - Group savings plan (“PEG”) 154 • Note 13 - Provisions for pensions and other employee benefits 159 • Note 14 - Current and deferred taxes 161 • Note 15 - Other current and non-current liabilities and provisions 162 • Note 16 - Trade and other accounts payable and accrued expenses 163 • Note 17 - Risk factors 165 • Note 18 - Net debt 168 • Note 19 - Financial instruments 169 • Note 20 - Financial assets and liabilities 170 • Note 21 - Business income by expense type 170 • Note 22 - Net financial expense 171 • Note 23 - Recurring net income and cash flow from operations 171 • Note 24 - Earnings per share 172 • Note 25 - Commitments 173 • Note 26 - Litigation 175 • Note 27 - Environment – Health – Safety (EHS) 176 • Note 28 - Related-party transactions 176 • Note 29 - Joint ventures 176 • Note 30 - Management compensation 177 • Note 31 - Employees 177 • Note 32 - Segment information 181 • Note 33 - Principal fully consolidated companies 182 • Note 34 - Subsequent events 127 CONSOLIDATED FINANCIAL STATEMENTS Saint-Gobain – Financial Report 2008
Page 1 and 2:
2008 annual report
Page 3 and 4:
Contents 05 • Strategy and busine
Page 5 and 6:
3 STRATEGY AND BUSINESSES Jean-Loui
Page 7 and 8:
Strategy and Businesses of Saint-Go
Page 9 and 10:
Responding to recession by demonstr
Page 11 and 12:
The High-Performance Materials Divi
Page 13 and 14:
High-Performance Materials Business
Page 15 and 16:
Insulation products are made from m
Page 17 and 18:
Construction Products Businesses an
Page 19 and 20:
Finland, Estonia, Lithuania and Pol
Page 21 and 22:
ecovered glass can be recycled inde
Page 23:
The “Germ-free Surfaces” progra
Page 26 and 27:
24 2008 results dampened by the fin
Page 28 and 29:
holders of the parent contracted 7.
Page 30 and 31:
28 2008 business review 2008 sales
Page 32 and 33:
30 The Division also continued to e
Page 34 and 35:
32 In the Nordic countries, Dahl de
Page 36 and 37:
Sustainable development 34 Sustaina
Page 38 and 39:
Environment Challenges Action taken
Page 40 and 41:
38 I. Products and services contrib
Page 42 and 43:
40 Sun Saint-Gobain is a major supp
Page 44 and 45:
42 a British trade association that
Page 46 and 47:
44 Mobilizing resources to deploy t
Page 48 and 49:
46 EHS auditors are drawn from a po
Page 50 and 51:
48 Lastly, we make every effort to
Page 52 and 53:
To help them to implement the plan,
Page 54 and 55:
52 Wood dust is primarily an issue
Page 56 and 57:
54 BRØDRENE DAHL’S PROGRAM FOR R
Page 58 and 59:
56 2008-2010 OBJECTIVE Saint-Gobain
Page 60 and 61:
58 warehouses and other similar spa
Page 62 and 63:
product developed in 2006 by Lapeyr
Page 64 and 65:
62 Internships during a student’s
Page 66 and 67:
64 Geographical and job mobility is
Page 68 and 69:
66 SAINT-GOBAIN AND THE BROAD-BASED
Page 70 and 71:
68 Honest, open, high quality socia
Page 72 and 73:
70 Construction Products The Constr
Page 74 and 75:
72 IV. Values supporting responsibl
Page 76 and 77:
74 INTERNATIONAL CORPORATE FOUNDATI
Page 78 and 79: 76 In countries facing certain soci
Page 80 and 81: 78 for example, 91% of the Group’
Page 82 and 83: ENVIRONMENTAL INDICATORS 2007 2008
Page 84 and 85: Trading volume since September 2007
Page 86 and 87: Trading volume since September 2007
Page 88 and 89: Changes in capital over the last fi
Page 90 and 91: 88 The decision to grant stock opti
Page 92 and 93: Information Policy and 2009 Financi
Page 94 and 95: 92 Yuko HARAYAMA Professor at Tohok
Page 96 and 97: Other directorships and positions h
Page 98 and 99: 96 Director’s name and current ma
Page 100 and 101: 98 • Committees of the Board. Thr
Page 102 and 103: 100 The Committee’s remit, as def
Page 104 and 105: • The Annual General Meeting of J
Page 106 and 107: 4. Stock options granted to the Cha
Page 108 and 109: 106 Management compensation In Grou
Page 110 and 111: Fees paid by the Group to the Audit
Page 112 and 113: 110 Related party agreements Relate
Page 114 and 115: 112 The audits are based on a 20-st
Page 116 and 117: 114 being applied. The TAS framewor
Page 118 and 119: Statutory Auditors’ report Prepar
Page 120 and 121: Commitment concerning the payment o
Page 122 and 123: 120 Restructuring risks The Group h
Page 124 and 125: 122 • Volumes are not material, o
Page 126 and 127: 124 or any specific illness or phys
Page 130 and 131: Consolidated balance sheet at 31 De
Page 132 and 133: Consolidated income statement (in
Page 134 and 135: Statement of recognized income and
Page 136 and 137: Notes to the consolidated financial
Page 138 and 139: 136 Non-current assets held for sal
Page 140 and 141: 138 asset’s fair value less costs
Page 142 and 143: 140 Fair value of financial instrum
Page 144 and 145: 142 Other business income and expen
Page 146 and 147: 2006 In 2005, the Group acquired th
Page 148 and 149: NOTE 4 Other intangible assets Pate
Page 150 and 151: NOTE 6 Investments in associates (i
Page 152 and 153: 150 NOTE 8 Inventories Dec. 31, Dec
Page 154 and 155: Movements relating to stock options
Page 156 and 157: The plan costs are calculated under
Page 158 and 159: The following tables show the funde
Page 160 and 161: Actuarial assumptions used to measu
Page 162 and 163: The effective tax rate paid by the
Page 164 and 165: Provisions for claims and litigatio
Page 166 and 167: isks is hedged wherever possible wi
Page 168 and 169: Bond issues On June 13, 2008, Saint
Page 170 and 171: NOTE 19 Financial instruments Deriv
Page 172 and 173: NOTE 21 Business income by expense
Page 174 and 175: The weighted average number of shar
Page 176 and 177: 174 In addition, as of December 31,
Page 178 and 179:
NOTE 28 Related-party transactions
Page 180 and 181:
Innovative Construction Building Pa
Page 182 and 183:
Information by geographic area Fran
Page 184 and 185:
182 Principal fully consolidated co
Page 186 and 187:
II - Justification of our assessmen
Page 188 and 189:
Income statement at December, 31 (i
Page 190 and 191:
Balance sheet at December, 31 ASSET
Page 192 and 193:
Cash flow statement (in € thousan
Page 194 and 195:
Risk management/Financial instrumen
Page 196 and 197:
NOTE 5 Intangible assets Intangible
Page 198 and 199:
Changes in Compagnie de Saint-Gobai
Page 200 and 201:
Grant stock options exercisable for
Page 202 and 203:
9.4 Compagnie de Saint-Gobain Group
Page 204 and 205:
NOTE 12 Debt and payables Total deb
Page 206 and 207:
12.1 Perpetual bonds In 1985, Compa
Page 208 and 209:
NOTE 14 Investment portfolio Countr
Page 210 and 211:
COMPANIES Capital Reserves % Book v
Page 212 and 213:
NOTE 18 Fees paid to the Statutory
Page 214 and 215:
Asbestos-related litigation in Braz
Page 216 and 217:
Statutory Auditors’ report on the
Page 218 and 219:
Main subsidiaries by country and de
Page 220 and 221:
Saint-Gobain Vetrotex Deutschland G
Page 222 and 223:
Saint-Gobain Construction Products
Page 224 and 225:
Saint-Gobain Building Distribution
Page 226 and 227:
Subsidiaries: Saint-Gobain Technica
Page 228 and 229:
CHINA €1 = CNY 10.227 Saint-Gobai
Page 230 and 231:
Table of concordance 1 Person respo
Page 232 and 233:
COMPAGNIE DE SAINT-GOBAIN France He
Page 234 and 235:
Notes 232 Saint-Gobain - Financial
Page 236:
Saint-Gobain photo library ; p1 ©
show all

sain t-gobain annu al report 2008 annual report

Create successful ePaper yourself

Delete template?

Save as template?