2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

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4PARENT COMPANY FINANCIAL STATEMENTSNotes to the income statement and balance sheet4.6. NOTES TO THE INCOME STATEMENTAND BALANCE SHEETNOTE 1. OPERATING PROFITBreakdown€ millions 2010 2009Revenue from services (excluding VAT) 153.7 151.2Other revenue 9.0 9.4Reversals of provisions 3.9 3.3Operating income 166.6 163.9Purchases and external charges (98.3) (85.3)Taxes other than on income (3.6) (2.5)Employee benefits expense (22.5) (21.0)Additions to depreciation, amortisation, impairment and provisions:• non-current assets(1.8) (1.4)• provisions for contingencies(2.3) (1.4)Other expenses (0.5) (0.8)Operating expense (129.0) (112.4)OPERATING PROFIT 37.6 51.5Expense transfers break down as follows:€ millions 2010 2009Purchases and external charges 0.7 -Employee benefits expense 1.0 0.5Additions to depreciation, amortisation and provisions 0.1 0.1EXPENSE TRANSFERS 1.8 0.6Revenue from services (excluding VAT)€ millions 2010 2009Seconded employees 6.3 3.3Brand royalties 52.7 53.3Other 94.7 94.6REVENUE FROM SERVICES (EXCLUDING VAT) 153.7 151.2As the parent and holding company for Groupe Casino, Casino, Guichard-Perrachon’s revenue mainly corresponds to royalties received fromsubsidiaries for the use of trademarks and brands owned by the company, as well as management fees billed to subsidiaries.Casino, Guichard-Perrachon generates 99% of its revenue with companies based in France.Average number of employeesNumber of employees 2010 2009Managers 40 37Supervisors 2 2Other - -TOTAL 42 39134 Casino Group | Registration Document 2010
PARENT COMPANY FINANCIAL STATEMENTSNotes to the income statement and balance sheet4NOTE 2. FINANCIAL INCOME AND EXPENSE€ millions 2010 2009Income from investments in subsidiaries and associates:• Distribution Casino France149.7 -• Immobilière Groupe Casino98.2 350.5• Finovadis- 26.8• Monoprix55.8 70.2• Vindémia25.1 70.0• Plouescadis12.6 -• Other7.0 9.4Total 348.4 526.9Other investment income 0.5 1.0Other financial income 222.9 172.9Provision and impairment reversals 2.5 30.2Net income from disposals of marketable securities 1.2 6.0Financial income 575.5 737.0Interest expense:• Bonds(257.0) (275.9)• Additions to amortisation and provisions(13.9) (29.7)• Other financial expense(174.6) (162.4)• Net expenses on disposals of marketable securities(4.9) (7.7)Financial expense (450.4) (475.7)NET FINANCIAL INCOME/(EXPENSE) 125.1 261.3Other financial income and expense mainly comprises interest oncurrent accounts with subsidiaries and gains and losses on interestratehedges.Net income and expense from disposals of marketable securitiesmainly included a €3.9 million loss on sales of treasury shares.The main movement in provisions and impairment in 2010 wasa €12.6 million provision for amortisation of bond redemptionpremiums.The main movements in provisions in 2009 were as follows:■■■provision for impairment of Finovadis shares (€25.5 million) andGéant Argentina shares (€2.2 million);reversal of provision for impairment of Latic shares (€17.6 million);reversal of provisions for liabilities recorded in relation to theredemption price of bonds indexed to the Casino share price(€7.7 million).NOTE 3. NET NON-RECURRING INCOME/(EXPENSE)€ millions 2010 2009Net gains/(losses) on disposals of intangible assets and property, plant and equipment 0.2 -Net gains/(losses) on disposals of investments in subsidiaries and associates - (247.6)Gains/(losses) on disposal of non-current assets 0.2 (247.6)Provision expense (11.1) (26.1)Provision reversals 104.1 262.8Other non-recurring expense (17.8) (33.6)Other non-recurring income 0.7 18.2NET NON-RECURRING INCOME/(EXPENSE) 76.1 (26.3)In 2010, net non-recurring income mainly comprised a reversalof the provision for potential repayment of recognised tax savingsto subsidiaries (see note 4).In 2009, net gains and losses on disposals of investments insubsidiaries and associates primarily included:■■loss generated on the dividend distribution in Mercialys(€11.1 million);loss on the disposal of Finovadis shares (€153.3 million), fullyprovided for in prior years;Registration Document 2010 | Casino Group135
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Registration Document2010
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KEEPING AHEADIN A CHANGING WORLDCas
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1PRESENTATION OFTHE CASINO GROUP1.1
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PRESENTATION OF THE CASINO GROUPBus
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SCCR/SS/GE/13/3 Prov.page 945. The
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PRESENTATION OF THE CASINO GROUPRea
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2MANAGEMENTREPORTAT 31 DECEMBER 201
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31 DECEMBER 2010Business Review22.1
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31 DECEMBER 2010Business Review22.1
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31 DECEMBER 2010Business Review2Mai
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31 DECEMBER 2010Parent Company Busi
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31 DECEMBER 2010Subsidiaries and As
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31 DECEMBER 2010Subsidiaries and As
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31 DECEMBER 2010Subsequent Events2C
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31 DECEMBER 2010Share Capital and S
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31 DECEMBER 2010Risk Factors and In
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31 DECEMBER 2010Environmental Repor
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31 DECEMBER 2010Environmental Repor
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31 DECEMBER 2010Employment Report22
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3CONSOLIDATEDFINANCIALSTATEMENTS3.1
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CONSOLIDATED FINANCIAL STATEMENTSCo
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CONSOLIDATED FINANCIAL STATEMENTSNo
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CORPORATE GOVERNANCEChairman’s Re
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CORPORATE GOVERNANCEAppendix: Board
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6GENERALMEETING6.1. Report of the B
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GENERAL MEETINGReport of the Board
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GENERAL MEETINGReport of the Board
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GENERAL MEETINGStatutory Auditors
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GENERAL MEETINGProposed resolutions
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7ADDITIONALINFORMATION7.1. General
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ADDITIONAL INFORMATIONGeneral infor
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ADDITIONAL INFORMATIONGeneral infor
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ADDITIONAL INFORMATIONHistory of th
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ADDITIONAL INFORMATIONThe market fo
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ADDITIONAL INFORMATIONStore network
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ADDITIONAL INFORMATIONPerson respon
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ADDITIONAL INFORMATIONTable of corr
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Investor RelationsNadine COULMAline
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2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

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