2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

More documents

Recommendations

Info

1PRESENTATION OF THE CASINO GROUPReal estate and investments1.4.2 ROLLING OUT THE DUAL RETAILING AND PROPERTYDEVELOPMENT MODEL IN FRANCE AND ABROADThe Group’s expansion plan in France and abroad is based on abusiness model combining retailing with property. This model underpinsthe Group’s profitable growth strategy and meets two key objectives:to increase the appeal of its sites in order to drive the retail businessand to create a portfolio of valuable assets.Casino has set up a dedicated department in France called CasinoImmobilier et Développement, which comprises subsidiaries specialisingin areas ranging from land purchase and property development toproperty letting and asset value enhancement:■ Immobilière Groupe Casino (IGC), a wholly owned subsidiary,holds the Group’s store properties.■ Mercialys, a subsidiary of IGC, owns the Group’s shopping centresin France and is responsible for operating this high-potential retailspace with the goal of capturing its full value. Mercialys is oneof France’s biggest property companies and a leading shoppingcentre operator.■ Casino Développement coordinates expansion in France andinternationally.■ IGC Promotion, Onagan and Soderip promote the Group’s retailspace in France.■ IGC Services manages asset turnover and financial engineeringof the property portfolio.■ Mayland develops shopping centres in Central and EasternEurope.■ Sudeco manages shopping centre leases.■ GreenYellow installs solar panels on the store roofs and shoppingcentre car parks.1.4.3. ENHANCING THE VALUE OF EXISTING ASSETS:THE ALCUDIA/“ESPRIT VOISIN” PROGRAMMEMercialys, the owner of the Group’s shopping centres in France, aimsto redevelop its retail space to meet changing consumer trends. Byrenovating and extending high potential retail space, Mercialys attractsthe most active banners and contributes to enhancing the vitality ofCasino’s shopping centres.Three years ago, the Group set up the Alcudia plan, a majorprogramme to enhance the value of its retail properties with a view tocreating both real estate value and business value in France.Initiated in 2006, the plan aims to strengthen the appeal of the Group'sretail properties by extending shopping centres and creating thrivingsites that have their own personality and are deeply rooted in local life.The process of reviewing and defining a strategic plan for the Group’s109 sites was finalised in 2007 and the operational rollout phasebegan in 2008.In 2009, a major milestone was achieved when Casino contributedto Mercialys a €334 million portfolio of property assets comprising25 Casino development projects and hypermarket retail and storagespace.In addition, under the Alcudia/Esprit Voisin plan, five sites wereextended and nine converted to the Esprit Voisin concept.A further milestone was reached in 2010 when Mercialys sold45 assets for an amount of €120.1 million at the year-end. Thesewere mature assets comprising mainly service malls, food stores,individual assets, single store and restaurant properties, variousco-ownership lots and a shopping centre at Saint-Nazaire consideredto have reached maturity.The Esprit Voisin programme continued in 2010 with seven completionsduring the year.14 Casino Group | Registration Document 2010
2MANAGEMENTREPORTAT 31 DECEMBER 2010Financial highlights .........................................................162.1. Business Review ............................................................172.2. Parent Company Business Review ................................232.3. Subsidiaries and Associates ..........................................252.4. Subsequent Events ........................................................292.5. Outlook for 2011 and conclusion ...................................302.6. Share Capital and Share Ownership ..............................302.7. Risk Factors and Insurance............................................402.8. Environmental Report.....................................................432.9. Employment Report .......................................................46Registration Document 2010 | Casino Group15
Page 1 and 2: Registration Document2010
Page 3 and 4: KEEPING AHEADIN A CHANGING WORLDCas
Page 5 and 6: 1PRESENTATION OFTHE CASINO GROUP1.1
Page 7 and 8: PRESENTATION OF THE CASINO GROUPBus
Page 9 and 10: SCCR/SS/GE/13/3 Prov.page 945. The
Page 15: PRESENTATION OF THE CASINO GROUPRea
Page 19 and 20: 31 DECEMBER 2010Business Review22.1
Page 21 and 22: 31 DECEMBER 2010Business Review22.1
Page 23 and 24: 31 DECEMBER 2010Business Review2Mai
Page 25 and 26: 31 DECEMBER 2010Parent Company Busi
Page 27 and 28: 31 DECEMBER 2010Subsidiaries and As
Page 29 and 30: 31 DECEMBER 2010Subsidiaries and As
Page 31 and 32: 31 DECEMBER 2010Subsequent Events2C
Page 33 and 34: 31 DECEMBER 2010Share Capital and S
Page 43 and 44: 31 DECEMBER 2010Risk Factors and In
Page 45 and 46: 31 DECEMBER 2010Environmental Repor
Page 47 and 48: 31 DECEMBER 2010Environmental Repor
Page 49 and 50: 31 DECEMBER 2010Employment Report22
Page 55 and 56: 3CONSOLIDATEDFINANCIALSTATEMENTS3.1
Page 57 and 58: CONSOLIDATED FINANCIAL STATEMENTSCo
Page 65 and 66: CONSOLIDATED FINANCIAL STATEMENTSNo
Page 67 and 68:
CONSOLIDATED FINANCIAL STATEMENTSNo
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
4PARENT COMPANYFINANCIALSTATEMENTSA
Page 131 and 132:
PARENT COMPANY FINANCIAL STATEMENTS
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
5CORPORATEGOVERNANCE5.1. Board of D
Page 159 and 160:
CORPORATE GOVERNANCEBoard of Direct
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
CORPORATE GOVERNANCEManagement5Comp
Page 181 and 182:
CORPORATE GOVERNANCEManagement5Exec
Page 183 and 184:
CORPORATE GOVERNANCEChairman’s Re
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
CORPORATE GOVERNANCEAppendix: Board
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
6GENERALMEETING6.1. Report of the B
Page 203 and 204:
GENERAL MEETINGReport of the Board
Page 205 and 206:
GENERAL MEETINGReport of the Board
Page 207 and 208:
GENERAL MEETINGStatutory Auditors
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
GENERAL MEETINGProposed resolutions
Page 215 and 216:
Page 217 and 218:
Page 219 and 220:
Page 221 and 222:
Page 223 and 224:
7ADDITIONALINFORMATION7.1. General
Page 225 and 226:
ADDITIONAL INFORMATIONGeneral infor
Page 227 and 228:
ADDITIONAL INFORMATIONGeneral infor
Page 229 and 230:
ADDITIONAL INFORMATIONHistory of th
Page 231 and 232:
ADDITIONAL INFORMATIONThe market fo
Page 233 and 234:
ADDITIONAL INFORMATIONStore network
Page 235 and 236:
ADDITIONAL INFORMATIONPerson respon
Page 237 and 238:
ADDITIONAL INFORMATIONTable of corr
Page 239 and 240:
Investor RelationsNadine COULMAline
show all

2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?