B<strong>al</strong>ance sheet at December, 31 ASSETS <strong>2008</strong> 2007 2006 Gross Depreciation, Net (in € thousands) amortization, and impairment Non-current assets Intangible assets (Note 5) Goodwill (1) 567 (567) – 23 45 Other intangible assets 43,350 (36,288) 7,062 11,609 10,845 Intangible assets in progress 3,221 3,221 1,153 4,380 Property and equipment (Note 6) Land 620 620 620 620 Buildings 13,799 (980) 12,819 12,439 211 Other 9,809 (5,760) 4,049 1,855 2,117 Assets under construction 1,129 1,129 2,795 10,426 Financi<strong>al</strong> investments (2) (Note 7) Investments in subsidiaries and affiliates 9,067,897 (639) 9,067,258 8,119,991 7,718,746 Loans and advances to subsidiaries and affiliates 12,667,017 12,667,017 11,724,206 11,439,395 Other investment securities 193,896 (66,494) 127,402 148,473 226,914 Other loans 1,000,373 1,000,373 902,005 639,158 Other financi<strong>al</strong> investments 459 459 584 604 CURRENT ASSETS (Note 8) Tot<strong>al</strong> I 23,002,137 (110,728) 22,891,409 20,925,753 20,053,461 Other receivabless (3) 3,384,266 3,384,266 2,525,316 2,688,401 Marketable securities 1,224,550 – 1,224,550 50,100 – Cash and cash equiv<strong>al</strong>ents 28,642 28,642 55,883 11,485 Accru<strong>al</strong>s Prepayments (3) 4,820 – 4,820 2,219 3,630 Tot<strong>al</strong> II 4,642,278 – 4,642,278 2,633,518 2,703,516 Deferred charges Tot<strong>al</strong> III 26,410 – 26,410 24,053 29,996 Translation losses Tot<strong>al</strong> IV – – – 39 283 TOTAL ASSETS 27,670,825 (110,728) 27,560,097 23,583,363 22,787,256 (1) including leasehold rights – – – – – (2) of which due within one year 2,639,381 2,710,071 2,185,787 (3) of which due beyond one year – – 2,878 3,166 11,044 188 Saint-Gobain – Financi<strong>al</strong> Report <strong>2008</strong>
SHAREHOLDERS’ EQUITY AND LIABILITIES <strong>2008</strong> 2007 2006 (in € thousands) SHAREHOLDERS’ EQUITY (Note 9) Capit<strong>al</strong> stock 1,530,288 1,496,865 1,473,679 Addition<strong>al</strong> paid-in capit<strong>al</strong> 3,786,714 3,467,466 3,167,609 Rev<strong>al</strong>uation reserve 55,532 55,532 56,242 Other reserves: Leg<strong>al</strong> reserve (a) 153,029 149,686 147,368 Untaxed reserves 2,617,758 2,617,758 2,617,757 Other reserves 301,428 301,428 301,428 Unappropriated retained earnings 1,610,624 1,506,206 1,278 081 Net income for the year 1,263,527 871,150 849,187 Untaxed provisions (Note 11) 6,439 6,438 6,439 Tot<strong>al</strong> I 11,325,339 10,472,529 9,897,790 OTHER EQUITY (Note 10) Non-voting participating securities Tot<strong>al</strong> I bis 170,035 170,035 170,035 PROVISIONS (Note 11) Provisions for contingencies 84,048 88,326 79,842 Provisions for charges 67,434 62,193 56,242 Tot<strong>al</strong> II 151,482 150,519 136,084 LIABILITIES (1) (Note 12) Bonds 6,258,699 5,680,066 3,206,394 Bank borrowings (2) 2,292,346 201,747 3,529,223 Other borrowings 7,174,125 6,807,481 5,695,018 Tax and soci<strong>al</strong> charges payable 113,379 57,769 88,192 Other payables 74,675 42,012 63,853 Accru<strong>al</strong>s Deferred income – – – Tot<strong>al</strong> III 15,913,224 12,789,075 12,582,680 Translation gains Tot<strong>al</strong> IV 17 1,205 667 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 27,560,097 23,583,363 22,787,256 (a) of which long-term capit<strong>al</strong> gains reserve 14,225 14,225 14,225 (1) of which due beyond one year 9,820,722 8,608,975 9,220,071 of which due within one year 6,092,502 4,180,101 3,362,609 (2) of which short-term bank loans and overdrafts 83,489 29,388 273,498 FINANCIAL STATEMENTS 189 Saint-Gobain – Financi<strong>al</strong> Report <strong>2008</strong>
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2008 annual report
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Contents 05 • Strategy and busine
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3 STRATEGY AND BUSINESSES Jean-Loui
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Strategy and Businesses of Saint-Go
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Responding to recession by demonstr
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The High-Performance Materials Divi
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High-Performance Materials Business
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Insulation products are made from m
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Construction Products Businesses an
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Finland, Estonia, Lithuania and Pol
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ecovered glass can be recycled inde
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The “Germ-free Surfaces” progra
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24 2008 results dampened by the fin
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holders of the parent contracted 7.
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28 2008 business review 2008 sales
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30 The Division also continued to e
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32 In the Nordic countries, Dahl de
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Sustainable development 34 Sustaina
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Environment Challenges Action taken
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38 I. Products and services contrib
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40 Sun Saint-Gobain is a major supp
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42 a British trade association that
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44 Mobilizing resources to deploy t
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46 EHS auditors are drawn from a po
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48 Lastly, we make every effort to
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To help them to implement the plan,
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52 Wood dust is primarily an issue
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54 BRØDRENE DAHL’S PROGRAM FOR R
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56 2008-2010 OBJECTIVE Saint-Gobain
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58 warehouses and other similar spa
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product developed in 2006 by Lapeyr
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62 Internships during a student’s
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64 Geographical and job mobility is
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66 SAINT-GOBAIN AND THE BROAD-BASED
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68 Honest, open, high quality socia
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70 Construction Products The Constr
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72 IV. Values supporting responsibl
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74 INTERNATIONAL CORPORATE FOUNDATI
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76 In countries facing certain soci
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78 for example, 91% of the Group’
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ENVIRONMENTAL INDICATORS 2007 2008
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Trading volume since September 2007
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Trading volume since September 2007
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Changes in capital over the last fi
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88 The decision to grant stock opti
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Information Policy and 2009 Financi
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92 Yuko HARAYAMA Professor at Tohok
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Other directorships and positions h
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96 Director’s name and current ma
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98 • Committees of the Board. Thr
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100 The Committee’s remit, as def
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• The Annual General Meeting of J
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4. Stock options granted to the Cha
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106 Management compensation In Grou
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Fees paid by the Group to the Audit
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110 Related party agreements Relate
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112 The audits are based on a 20-st
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114 being applied. The TAS framewor
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Statutory Auditors’ report Prepar
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Commitment concerning the payment o
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120 Restructuring risks The Group h
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122 • Volumes are not material, o
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124 or any specific illness or phys
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The level of coverage is considered
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Consolidated balance sheet at 31 De
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Consolidated income statement (in
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Statement of recognized income and
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Notes to the consolidated financial
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136 Non-current assets held for sal
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- 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
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- Page 218 and 219: Main subsidiaries by country and de
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- 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
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