Annual Report 2011 - Analist.be

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Accounts at 31 December 2011 - Notes17. Pension and similar commitmentsDefined contribution plansIn this type of pension plan, the employer commits to pay regular contributions to the management body (pension funds,insurance companies, financial establishments) on a mandatory basis (legal or regulatory provisions) or an optional basis(supplementary pension plan provided by the company), without offering any guarantee on the level of benefits to be paid.These plans are offered to the personnel of Imerys and to ECP III’s operating subsidiaries.The amounts are paid during the year in which they are due. Total contributions of EUR 15 million were paid in 2011(EUR 0 million for 2010 and 2009) for defined contribution pension plans.Defined benefits pension plansThe valuation of pension and similar commitments is carried out by independent actuaries. These plans can be financed byinsurance companies (group insurance), pension funds or separate entities.The pension liabilities of the Group on 31 December 2011 are hedged and detailed below:In EUR million 2011 2010 2009Fair value of plan assets 914.3 65.0 61.3Present value of funded obligations (1,045.2) (57.8) (49.3)(Deficit)/surplus of plans funded (130.9) 7.2 12.0Present value of obligations unfunded (101.9) - -Funding (deficit)/surplus (232.8) 7.2 12.0Unrecognised past service costs 3.5 - -Effect on the asset ceiling (IAS 19 § 58(b)) (0.7) (1.2) (6.0)Fair value of repayment rights (IAS 19, § 104A) 6.6 - -Amount included on balance sheet (223.4) 6.0 6.0Of which: Non-current liabilities (233.9) - -Non-current assets 10.5 - -Current assets - 6.0 6.0At 31 December 2009 and 2010, an amount of EUR 6 million was recorded as an advance to the pension fund pursuant to IFRIC 14.Fair value of plan assetsIn EUR million 2011 2010 2009Balance at 1 January 65.0 61.3 54.7Expected return on assets 40.9 3.5 6.5Employer's contributions 22.8 1.4 4.0Participants' contributions 1.1 - -Benefits paid (67.5) (1.2) (3.9)Currency translation adjustments 51.5 - -Actuarial gains/(losses) recognised on plan assets (13.8) - -Group structure changes/Business combinations 816.2 - -Other movements (1.9) - -Balance at 31 December 914.3 65.0 61.3104 Annual Report 2011
Asset plan distributionIn % 2011 2010 2009Shares 44% 39% 37%Bonds 52% 47% 52%Real estate 1% 5% 4%Other 3% 9% 7%Total 100% 100% 100%Change in fair value of recognised repayment rights in accordance with IAS 19,§ 104AIn EUR million 2011 2010 2009Balance at 1 January - - -Expected return on assets 0.2 - -Employer's contributions 0.2 - -Benefits paid (0.1) - -Actuarial gains/(losses) recognised on plan assets (0.4) - -Group structure changes/Business combinations 6.7 - -Balance at 31 December 6.6 - -Plan commitments – funded plansIn EUR million 2011 2010 2009Balance at 1 January 57.8 49.3 48.3Present value of funded obligations of the period 10.2 1.5 1.3Financial cost 37.2 2.5 2.6Actuarial loss/(gain) 46.1 5.7 1.0Benefits paid (67.7) (1.2) (3.9)Group structure change/Business combinations 898.8 - -Currency translation adjustments 59.6 - -Other movements 3.2 - -Balance at 31 December 1,045.2 57.8 49.3Accounts at 31 December 2011Plan commitments – unfunded plansIn EUR million 2011 2010 2009Balance at 1 January - - -Present value of funded obligations of the period 2.2 - -Financial cost 2.9 - -Actuarial loss/(gain) (3.1) - -Benefits paid (4.0) - -Group structure change/Business combinations 102.7 - -Currency translation adjustments 1.7 - -Other movements (0.5) - -Balance at 31 December 101.9 - -Annual Report 2011 105
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Annual Report2011 Groupe Bruxelles
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Responsible persons1 Responsibility
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Message to shareholdersLadies and G
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Stock Exchange dataShareholder info
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Selected Portfolio and financial ad
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Consolidated result analysisThe tab
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Consolidated figures IFRSIn 2011, t
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20 Annual Report 2011
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Total is a global, integrated oil a
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GDF SUEZ is a world reference energ
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Overview of the activities - GDF SU
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The world’s co-leader in Wine & S
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Main financial data30 June 2011 30
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With a presence in 64 countries, La
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Environment variables and operating
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Data on Stock Exchange and on GBL
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Percentage of share capital .......
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Environment variables and operating
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Suez Environnement is a global lead
Page 58 and 59: Overview of the activities - Suez E
Page 62 and 63: Overview of the activities - Arkema
Page 64 and 65: Overview of the activities - Arkema
Page 66 and 67: Other investmentsIberdrola(http://w
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Page 70 and 71: Consolidated balance sheet at 31 De
Page 72 and 73: Consolidated statement of changes i
Page 74 and 75: Accounting policiesGroupe Bruxelles
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Page 81 and 82: When such estimates are established
Page 83 and 84: Changes in group structureThe most
Page 85: NotesFor the sake of consistency, t
Page 88 and 89: Accounts at 31 December 2011 - Note
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Page 99 and 100: In EUR millionLand andbuildingsMine
Page 101 and 102: 11. InventoriesIn EUR million 2011
Page 103 and 104: Bank loans (GBL)GBL drew on its cre
Page 105: 16. ProvisionsIn EUR million Legal
Page 109 and 110: 18. Other current liabilitiesIn EUR
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Page 113 and 114: ImerysImerys has put in place an in
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Page 118 and 119: Statutory Auditor’s report116 Ann
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Page 122 and 123: Dividend policyThe profit appropria
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Page 126 and 127: Corporate governance statementIan G
Page 128 and 129: Corporate governance statement1.1.2
Page 130 and 131: Corporate governance statementGéra
Page 132 and 133: Corporate governance statementAmaur
Page 134 and 135: Corporate governance statementNumbe
Page 136 and 137: Corporate governance statementThe a
Page 138 and 139: Corporate governance statementThe t
Page 140 and 141: Corporate governance statement3.2.
Page 142 and 143: Corporate governance statement3.4.1
Page 145 and 146: 6. Risk management and internal con
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Page 149 and 150: 7. Policy on conflicts of interestC
Page 151 and 152: Extract of the minutes of the meeti
Page 153 and 154: Chain of ownershipPaul G.Desmarais6
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11.9. Capital11.9.1. Issued capital
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Resolutions proposed to shareholder
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• Regent and Member of the Budget
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Paul DesmaraisVice-Chairman of the
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• Director of 152245 Canada Inc.
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List of activities and other mandat
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• Director of Pargesa Holding S.A
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• Director of Great-West Lifeco I
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Amaury de SezeDirectorList of activ
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• Director of 4400046 Canada Inc.
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Gross annual returnThe gross annual
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Groupe Bruxelles Lambertwww.gbl.be
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