DOCSLIB.ORG

Philips Lighting (Euronext Amsterdam Ticker: LIGHT)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Philips Lighting (Euronext Amsterdam Ticker: LIGHT) Philips Lighting (Euronext Amsterdam ticker: LIGHT) - a global leader in lighting products, systems and services - delivers innovations that unlock business value; providing rich user experiences that help improve lives. Serving professional and consumer markets alike, Philips leads the lighting industry in leveraging the Internet of Things (IoT) to transform homes, buildings and urban spaces. With 2015 sales of EUR 7.5 billion, Philips has approximately 36,000 employees in over 70 countries. Through the application of multiple tools and techniques within the Project Management (IPECC, PDCA), Lean, and Six Sigma methodologies within its ‘End-to-End Outdoor Made-to-Order’ (Outdoor MTO) project initiative, Philips Lighting achieved the following advances over 18 months: Consistent delivery reliability exceeding 96% (up from 75%) Committed 4-week customer lead-times increased from 1% to 42% of Outdoor portfolio Agent NPS scores improved from -56 to +4 Improvements replicated across over 50% of the Outdoor North America portfolio, impacting a projected $125m+ of annual revenue coverage Strategic Objectives and Scope Starting in 2013, Philips Lighting experienced a decline in market share year-over-year with a cumulative 15% revenue decline in the North America Outdoor Professional Channel, amidst an 11% growth trend in the market at large. In addition, external sales agent Net Promoter Scores (NPS) were extremely poor, indicating three deficiencies in the eyes of the customer: uncompetitive product lead-times, unreliable service, and poor communication. To reverse the negative trend, Philips Lighting launched the first Site phase of the End-to-End (“E2E”) Outdoor Made-to- Order (“Outdoor MTO”) transformation. With executive sponsorship aligned, a Project Management Office (“PMO”) was formed. The PMO consisted of a Six Sigma Master Black Belt, two Six Sigma Black Belts, a Six Sigma Green Belt (Black Belt in-training), and a certified Project Manager, contributing advanced Lean techniques to boot. All team members had thorough grounding in process design and continuous improvement, and each contributed varying degrees of expertise in stakeholder management, organizational dynamics, and relevant functional areas such as Sales & Marketing, Supply Chain, Operations, and Procurement. The PMO designed a project plan and project team that designated workstream leads in the relevant cross-functional business areas and partnered them with members of the Business Transformation organization, with the purpose of applying Lean techniques to address root causes plaguing poor customer service experience and a focus on establishing market-competitive lead times. The rationale for the program was that a stronger service foundation will enable Philips Lighting to win back the trust of its customer base, drive higher sales and ultimately regain market share. At the same time, employing business functions in lead roles of the program created a much higher likelihood of sustainable change management, as the business owners were highly engaged and contributing toward the very improvements that would become the future state way of working. The PMO quickly engaged and developed an overall strategy and project plan based on the Voice of the Customer (“VoC”), which came from direct customer feedback aggregated through external sales agent, distributor, and end user surveys and interviews, as well as direct sales team and other internal stakeholder feedback, to define the overarching goals of the program. The goals of the project were tracked against 4 primary KPIs. Two leading indicators of delivery reliability and lead-time improvement combined with two lagging indicators of Net Promoter Score and Financial results. Project Implementation and timeline For project implementation, a plan to resource eight workstreams with a three phase (Site phase) approach was launched. The high-level deliverables of each workstream against the timeline of Site Phase 1 of the program are shown below. Once the transformation achieved critical milestones in the first Site Phase, the program scaled and replicated the improvement efforts to the other key strategic areas of the Outdoor portfolio. The PMO approached each workstream utilizing different Lean, Six Sigma, Project Management, and Analytical tools depending on the specific goals of the workstream. Some of the select highlights are mentioned below. Value stream and swim-lane process mapping was used to map the flow of how to handle the tracking, communication, and execution of sales opportunities and component risk-buys in the Sales and Operations Planning (“S&OP”) workstream. This visual method helped optimize the future process. Supply Optimization (Procurement) Workstream followed PDCA or “Plan – Do – Check – Act” methodology for structured problem solving and determination of how to best optimize the flow of Outdoor lighting components from external suppliers. The “3C” or “Concern – Cause – Countermeasure” approach was used throughout the project in order to deep- dive any performance misses on primary or secondary KPI metrics. The program governance structure contained four groups: Steering Committee (“SteerCo”), Guiding Team, PMO, and Functional workstreams. The PMO served as the coordinating body between the key stakeholders - meeting daily with the workstream leads, receiving guidance and management bi-weekly from the Guiding team, and receiving direction and support on project risks monthly from the executive SteerCo. Size of the project challenge Philips Lighting in North America has four (4) Outdoor factories and over 300 product families that generate over $150M in annual revenue, and ultimately, required analysis and optimization for lead-times and serviceability. While there is some overlap, each factory produces essentially unique products for varying applications that prevented a true one-size- fits-all solution. Combined, the factory site, field teams, and Lighting headquarters’ core and extended project members represented over 200 stakeholders, including a cross-continental executive leadership situated in North America and Europe. Accordingly, the sites were thus split into phases and underlying product family ‘waves,’ allowing the PMO to prove success and then scale up and leverage best practices accordingly. The families were broken down into multiple waves based on a Pareto approach in order to make the implementation of the improved Customer Service Offering practical. The goal of the first three waves in a given factory site was to target products accounting for up to approximately 80% of 2014/2015 top-line sales, and then transition toward a self-sustained way of working, amongst the business functional owners, for subsequent improvements thereafter. The top 80% of sales was driven by approximately 20% of the Outdoor product families, thus enabling the PMO to focus project scope on a more manageable, yet highly impactful, portion of the portfolio. The business results of the E2E Outdoor Made-to-Order transformation As Philips’ Professional North America organization aspires toward taking the leap toward new heights in the lighting industry and connected/IoT space, it acknowledged at the outset of the Outdoor program, that having stable business processes would be critical in realizing its ambition. Executing on all the business fundamentals (service, delivery, and communication), would instill confidence in its customer network, from which sustained business growth could be built. Below are some of the key highlights/results from this program: Lead time: A very prominent shift in the CSO distribution resulted via the program’s efforts. Through an integration of sheer improvements, validation, and data cleansing, there was a tremendous increase in the more-competitive ‘4-week’ lead-time bucket: up from 1% in the beginning of the program, to over 42% of the covered product families being committed to 4-week lead-times. Service Reliability: All 4 Outdoor North America factories (San Marcos, Boisbriand, Camargo, and Littlestown) embraced improvement efforts and realized outsize performance results in service for the program’s targeted product families scaled up over the 18 month timeline. Consistent delivery reliability was proven: 96%+ service offer reliability & execution reliability across all product families launched in the program. Net Promoter Score: Agent NPS scores for the core areas that Outdoor MTO efforts impacted, improved drastically over the time period, from an average of -56 in January 2015, to +4 in June 2016. Financial Results: Positive impact on over 50% of the Outdoor portfolio (by revenue) - a projected $125m+ of revenue by year-end 2016, and average sales growth of 20% on covered product families. The final capstone of the project was to author and communicate a playbook containing problem description, methodology, techniques, KPIs, governance, and lessons learned based upon the activities and results of the transformation. This comprehensive, proven-concept document was published within the Philips community to replicate to other categories of the Professional North America organization, as well as inspire similar efforts globally. The playbook has since become the foundation for a comparable Indoor Retail portfolio project that kicked-off Q3-2016, with plans to scale to the remaining Indoor Office/Industry portion in 2017. .
Load more

Recommended publications
  • Euronext Amsterdam Notice
    DEPARTMENT: Euronext Amsterdam Listing Department ISSUE DATE: Tuesday 13 April 2021 EFFECTIVE DATE: Tuesday 13 April 2021 Document type: Euronext Amsterdam Notice Subject: EURONEXT AMSTERDAM PENALTY BENCH END DATE INTRODUCTION Pursuant to Rule 6903/3, Euronext Amsterdam may decide to include a Security to the Penalty Bench if the Issuer fails to comply with the Rules. This Notice sets out Euronext Amsterdam’s policy with respect to the term a Security can be allocated to the Penalty Bench after which it may be removed from trading. DETAILS Policy for delisting of issuers on the Penalty Bench When Euronext Amsterdam establishes that an Issuer fails to remedy the violation(s) of the Rule(s) that caused the transfer of its instruments to the Penalty Bench and the instruments have been on the Penalty bench for at least 24 months(*), Euronext will consider the violation(s) as a manifest failure of the Issuer to comply with the obligations imposed and the requirements set pursuant to the Rules in accordance with 6905/1(a). The process to come to a decision to remove the Securities will then commence. The final decision will be taken taking all relevant circumstances into account including but not limited to the the investors’ interests and the orderly functioning of the market. The process to delist will be applied in accordance with Rule 6905/1(ii) jo 6905/2 with the following specifications: - The date of the delisting will be at least 6 months after the formal decision. In the meantime, the instrument remains on the Penalty Bench and trading is possible, provided that trading is not suspended.
    [Show full text]
  • Esg Disclosures in Asia Pacific
    ESG DISCLOSURES IN ASIA PACIFIC A Review of ESG Disclosure Regimes for Listed Companies in Selected Markets ESG DISCLOSURES IN ASIA PACIFIC A Review of ESG Disclosure Regimes for Listed Companies in Selected Markets The mission of CFA Institute is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Institute, with more than 164,000 members worldwide, is the not-for-profit organization that awards the Chartered Financial Analyst® (CFA) and Certificate in Investment Performance Measurement® (CIPM) designations. CFA®, Chartered Financial Analyst®, AIMR-PPS®, and GIPS® are just a few of the trademarks owned by CFA Institute. To view a list of CFA Institute trademarks and the Guide for the Use of CFA Institute Marks, please visit our website at www.cfainstitute.org. © 2019 CFA Institute. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the copyright holder. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. Contents 1. Executive Summary 1 1.1 Key Observations 3 1.2 Recommendations 4 2. Introduction 6 3. Asia-Pacific Overview 8 3.1 Compliance 14 4.
    [Show full text]
  • Terms & Conditions Applicable to the Admission to Listing And/Or Trading
    TERMS & CONDITIONS APPLICABLE TO THE ADMISSION TO LISTING AND/OR TRADING OF DEBT SECURITIES ON A EUROPEAN MARKET OPERATED BY EURONEXT DEFINITIONS Application Form means the application form prescribed to be completed and signed by an Applicant pursuant to the Rules when applying for admission to listing and/or trading of Debt Securities on either a Euronext Regulated Market or an MTF operated by Euronext, such application form to include by reference the relevant Terms and Conditions and Technical Term Sheet. Beneficial Owner means any natural person(s) who ultimately owns or controls the issuer/or the natural person(s) on whose behalf a transaction or activity is being conducted. A natural person with a direct or indirect shareholding or an ownership interest of more than 25% in the issuer qualifies as a Beneficial Owner. Debt Securities means any transferable instrument representing debt including, without limitation, bonds (including convertible bonds that have not (yet) been converted into Equity Securities), notes and money market instruments. Euronext means the corporate group consisting of Euronext N.V., a company with limited liability (“naamloze vennootschap”) organised under the laws of the Netherlands, the Euronext Market Undertakings and/or any other subsidiary of Euronext N.V., as the context may require. Euronext Access means the multilateral trading facility within the scope of Article 4(1)(15) of MIFID (hereinafter “MTF”) operated by Euronext Brussels, Euronext Lisbon and Euronext Paris, under the commercial name “Euronext Access”. Euronext Growth or Euronext Growth Market means Alternext a multilateral trading facility within the scope of Article 4(1)(15) of MIFID (an MTF) operated by Euronext under the commercial name “Euronext Growth”.
    [Show full text]
  • JOHN HANCOCK VARIABLE INSURANCE TRUST Form NPORT
    SECURITIES AND EXCHANGE COMMISSION FORM NPORT-P Filing Date: 2020-05-29 | Period of Report: 2020-03-31 SEC Accession No. 0001145549-20-031561 (HTML Version on secdatabase.com) FILER JOHN HANCOCK VARIABLE INSURANCE TRUST Mailing Address Business Address C/O JOHN HANCOCK FUNDSC/O JOHN HANCOCK FUNDS CIK:756913| IRS No.: 000000000 | State of Incorp.:MA | Fiscal Year End: 0630 200 BERKELEY STREET 200 BERKELEY STREET Type: NPORT-P | Act: 40 | File No.: 811-04146 | Film No.: 20923310 BOSTON MA 02116 BOSTON MA 02116 617-663-3000 Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document John Hancock Variable Insurance Trust Portfolio of Investments — March 31, 2020 (unaudited) (showing percentage of total net assets) 500 Index Trust 500 Index Trust (continued) Shares or Shares or Principal Principal Amount Value Amount Value COMMON STOCKS – 96.8% COMMON STOCKS (continued) Communication Hotels, restaurants and leisure (continued) services – 10.4% McDonald's Corp. 166,576 $ 27,543,342 Diversified telecommunication services – 2.0% MGM Resorts International 113,909 1,344,126 AT&T, Inc. 1,615,787 $ 47,100,191 Norwegian Cruise Line Holdings, CenturyLink, Inc. 217,032 2,053,123 Ltd. (A) 47,060 515,778 Verizon Royal Caribbean Cruises, Ltd. (B) 38,022 1,223,168 Communications, Inc. 914,791 49,151,720 Starbucks Corp. 261,224 17,172,866 98,305,034 Wynn Resorts, Ltd. 21,371 1,286,320 Entertainment – 2.0% Yum! Brands, Inc. 66,901 4,584,726 Activision Blizzard, 71,938,966 Inc. 169,931 10,107,496 Household durables – 0.3% Electronic Arts, D.R.
    [Show full text]
  • The Annual General Meeting of Lucas Bols N.V. Thursday 7 September
    The annual general meeting of Lucas Bols N.V. Thursday 7 September 2017 14.00 CET De Hermitage Amstel 51 1018 EJ Amsterdam The Netherlands 1 CONVOCATION Dear Shareholder, We have the pleasure of inviting you to the annual general meeting of Lucas Bols N.V. (Lucas Bols or Company), to be held at 14.00 CET on Thursday 7 September 2017 at de Hermitage, Amstel 51, 1018 EJ Amsterdam, the Netherlands. This invitation has to be read in conjunction with the following documents, which are attached hereto: 1. Agenda 2. Explanatory notes to agenda 3. General information 4. Annual report 2016/17 5. Annual accounts 2016/17 Lucas Bols N.V. the management board Amsterdam, 30 June 2017 2 1. AGENDA 1. Opening 2. Annual report 2016/17 3. Annual accounts 2016/17 (a) Implementation of the remuneration policy in financial year 2016/17 (b) Adoption of the annual accounts 2016/17 (voting item) (c) Adoption of the dividend proposal (voting item) 4. Discharge (a) Discharge from liability of members of the management board for the performance of their duties in financial year 2016/17 (voting item) (b) Discharge from liability of members of the supervisory board for the performance of their duties in financial year 2016/17 (voting item) 5. Appointment as supervisory board member of: (a) Mr R. (Ralph) Wisbrun (voting item) 6. Prolongation of the designation of the management board as the body authorized: (a) To issue shares and/or grant rights to acquire shares (voting item) (b) To restrict or exclude pre-emptive rights upon the issue of shares and/or the granting of rights to acquire shares as described under 6(a) (voting item) 7.
    [Show full text]
  • Benchmark Statement
    0 Benchmark Statement Index Family: Euronext France 20-40 Challengers EW Administrator: Euronext Paris indices.euronext.com Version notes latest version April 2020 EuronextFR France 20-40 Challengers EW Dates Version notes Euronext France 20-40 Challengers EW 4 April-19 First publication 1 1 July-19 Update of website links after euronext.com migration 2 2 Update text and links to current documents ; addition of “changes to or cessation of indices” and February-20 3 3 specification of ESG factor application April-20 Updated version with Climate Disclosures 4 4 5 6 This publication is for information purposes only and is not a recommendation to engage in investment activities. This publication is provided “as is” without representation or warranty of any kind. Whilst all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. All proprietary rights and interest in or connected with this publication shall vest in Euronext. No part of it may be redistributed or reproduced in any form without the prior written permission of Euronext. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at : www.euronext.com/terms-use For further information in relation to Euronext Indices please contact: [email protected] 1 TABLE OF CONTENTS 1. INTRODUCTION…………………………………………….…………............…............3 2. INDEX CHARACTERISTICS………..……………………….……..…............…............…............4 3. POLICIES………………………..………………………………………….…............…............5 4. BENCHMARK STATEMENT REVIEW AND UPDATE….…............…............…............6 5.
    [Show full text]
  • GO Public EURONEXT AMSTERDAM’S IPO
    GO Public EURONEXT AMSTERDAM’S IPO 2021 PREPARATION PROGRAMME GO Public Programme The Description format SEMINARS GO Public Amsterdam is presented through five different methods: a series of academic & business courses, Participants will join a interactive workshops, one-on-one coaching and pitching cohort of GO Public peers sessions. Programme content is provided by leading who will follow each module partners from the financial industry: investment banks, collectively over a period of legal and financial advisors, independent specialist six months. A combination advisors and communication agencies. of theoretical and practical seminars will be presented by programme partners. From February to May 2021, the participants will convene for a monthly meeting. Listing ceremony of CM.com WHO CAN APPLY ACADEMIC WORKSHOPS BUSINESS Practical sessions presented JULY TO GO Public Amsterdam is an Participants are selected for their ability to COURSES by industry specialists on how become a dominant player in their respective OCTOBER 2020 executive educational course A series of academic to accelerate your business field, based on their size, sector of operation Application and business courses offered strategy, create and develop selection of launching in 2021 with the and desire to accelerate growth. by one of Europe’s leading your company’s equity candidates ambition to further educate Companies that meet the following criteria can business schools, Rotterdam story, establish accounting established companies apply: School of Management, in principles
    [Show full text]
  • Royal Ahold Delhaize Form 6-K Current Report Filed 2017-03-14
    SECURITIES AND EXCHANGE COMMISSION FORM 6-K Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments Filing Date: 2017-03-14 | Period of Report: 2017-03-14 SEC Accession No. 0001193125-17-082017 (HTML Version on secdatabase.com) FILER Royal Ahold Delhaize Mailing Address Business Address PROVINCIALEWEG 11 PROVINCIALEWEG 11 CIK:869425| IRS No.: 000000000 | Fiscal Year End: 1231 ZAANDAM P7 1506 MA ZAANDAM P7 1506 MA Type: 6-K | Act: 34 | File No.: 001-12510 | Film No.: 17688098 31-20-509-5100 SIC: 5411 Grocery stores Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2017 Commission File Number: 001-12510 KONINKLIJKE AHOLD DELHAIZE N.V. (Exact name of registrant as specified in its charter) ROYAL AHOLD DELHAIZE (Translation of registrants name into English) Provincialeweg 11 1506 MA Zaandam The Netherlands (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ Copyright © 2013 www.secdatabase.com.
    [Show full text]
  • Az Alábbi Táblázatokban Szerepel, Az Egyes Rating Csoportokhoz Tartozó Fedezeti Követelmények Vagy Fedezeti Értékek
    CFD fedezeti követelmény és Részvény fedezeti érték változások 2014. december 14-től! Az alábbi táblázatokban szerepel, az egyes rating csoportokhoz tartozó fedezeti követelmények vagy fedezeti értékek. CFD rating Fedezeti követelmény Részvény rating Fedezeti érték 1 1% 1 n/a 2 10% 2 75% 3 20% 3 75% 4 30% 4 50% 5 50% 5 50% 6 100% 6 0% 7 100% 7 0% 8 100% 8 0% Az alábbi példában illusztráljuk a változást CFD tekintetében A Infineon Technologies CFD jelenleg rating 3-as kategóriába tartozik, ami azt jelenti, hogy a fedezeti követelménye 20%. December 14-én a Infineon Technologies CFD átsorolásra kerül 4-es rating kategóriába, így a fedezeti követelménye 30%-ra változik. Az alábbi példában illusztráljuk a változást részvények tekintetében Infineon Technologies jelenleg rating 3-as kategóriába tartozik, ami azt jelenti, hogy a részvények fedezeti érétke az aktuális piaci ár 75%-a. December 14-én átsorolásra kerül rating 4-es kategóriába, ami azt fogja jelenteni, hogy a részvények fedezeti értéke az aktuális piaci ár 50%-a. Jelenlegi Symbol kód Értékpapír neve Új Rating Rating Athens Exchange TPEIR:xath Piraeus Bank SA 7 8 ETE:xath National Bank of Greece SA 7 8 ALPHA:xath Alpha Bank AE 7 8 HTO:xath Hellenic Telecommunication Organisation 6 8 EUROB:xath Eurobank Ergasias SA 7 8 OPAP:xath Greek Organisation of Football Prognostics SA 6 8 FFGRP:xath Folli Follie Group 6 8 TITK:xath Titan Cement Company SA 6 8 PPC:xath Public Power Corporation SA 6 8 ELPE:xath Hellenic Petroleum SA 6 8 BELA:xath Jumbo SA 6 8 MOH:xath Motor Oil (Hellas) Corinth Refineries SA 6 8 MYTIL:xath Mytilineos Holdings SA 6 8 EYDAP:xath Athens Water Supply & Sewerage Co.
    [Show full text]
  • Information Regarding Optional Dividend - Koninklijke Philips N.V
    Information Regarding Optional Dividend - Koninklijke Philips N.V. (Royal Philips) The General Meeting of Shareholders approved the distribution of EUR 0.85 per common share, at its annual meeting held on May 9, 2019. The distribution will be payable in cash or shares, at the option of the shareholder, against the net income for 2018. The company will calculate the number of share dividend rights entitled to one new common share, such that the gross dividend in shares will be approximately equal to the gross dividend in cash. Dividend in cash is in principle subject to 15% Dutch dividend withholding tax, which will be deducted from the dividend in cash paid to the shareholders. Dividend in shares paid out of net income and retained earnings is in principle subject to 15% dividend withholding tax, but only in respect of the par value of the shares (which value amounts to EUR 0.20 per share). By distributing an optional dividend, the company allows its shareholders to choose between receiving cash or shares. You are given the opportunity as of Wednesday, May 15, 2019, until: (1) Thursday June 6, 2019 (10.00 a.m. EST) if you are a holder of New York Registry Shares traded on the New York Stock Exchange; and (2) Friday June 7, 2019 (03.00 p.m. CET) if you are a holder of shares that are traded on the stock market of Euronext Amsterdam or a holder of registered shares included in the company’s shareholders register, to indicate your choice between cash and shares. If no choice is made during this election period the dividend will be paid in cash.
    [Show full text]
  • 2015 Registration Document | 02
    2015 REGISTRATION DOCUMENT | 02 CONTENTS Risks 2 5 Operating and fi nancial review 75 Strategic Risks 3 5.1 Overview 76 Financial Risks 5 5.2 Material contracts and related party Operational Risks 6 Transactions 96 5.3 Legal Proceedings 98 5.4 Insurance 100 Presentation of the Group 9 1 5.5 Liquidity and Capital Resources 101 1.1 Company Profi le 10 5.6 Tangible Fixed Assets 102 1.2 Strategy 12 1.3 Description of the Business 13 Financial Statements 103 1.4 Regulation 25 6 6.1 Consolidated Income Statement 104 6.2 Consolidated Statement Corporate Governance 29 2 of Comprehensive Income 105 2.1 Corporate Governance 30 6.3 Consolidated Balance Sheet 106 2.2 Management & Control Structure 32 6.4 Consolidated Statement of Cash Flows 107 2.3 Report of the Supervisory Board 43 6.5 Consolidated Statement of Changes 2.4 Remuneration report 45 in Parent’s Net Investment 2.5 Corporate Social Responsibility 50 and Shareholders’ Equity 108 6.6 Notes to the Consolidated Financial Statements 110 3 Selected historical combined fi nancial 6.7 Euronext N.V. Company Financial Statements information and other fi nancial for the year ended 31 December 2015 151 information 57 6.8 Notes to Euronext N.V. Financial Statements 153 6.9 Other information 167 4 General description of the Company and its share capital 61 Glossary 169 4.1 Legal Information on the Company 62 G 4.2 Share Capital 62 4.3 Shareholder structure 64 4.4 Share Classes and Major Shareholders 64 4.5 General Meeting of Shareholders and Voting Rights 69 4.6 Anti-Takeover Provisions 70 4.7 Obligations of Shareholders and Members of the Managing Board to Disclose Holdings 70 4.8 Short Positions 71 4.9 Market Abuse Regime 72 4.10 Transparency Directive 72 4.11 Dutch Financial Reporting Supervision Act 73 4.12 Dividends and Other Distributions 73 4.13 Financial Calendar 74 - 2015 Registration document 2015 Registration Document including the Annual Financial Report Euronext N.V.
    [Show full text]
  • Ahold Delhaize Commences €1 Billion Share Buyback Program Zaandam
    Ahold Delhaize commences €1 billion share buyback program Zaandam, the Netherlands, January 9, 2017 - Ahold Delhaize today commences the €1 billion share buyback program announced on December 7, 2016 and expects to complete the program before the end of 2017. Maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders is part of Ahold Delhaize’s financial framework to support its Better Together strategy. The purpose of the program is to reduce the capital of Ahold Delhaize, by cancelling all or part of the common shares acquired through the program. The program will be executed by intermediaries allowing the execution of share repurchases in the open market during open and closed periods. The program will be executed within the limits of relevant laws and regulations and the existing authority granted at Ahold’s 2016 annual general meeting of shareholders on April 19, 2016 and of the authority (if granted) by the annual general meeting on April 12, 2017. Ahold Delhaize will provide regular updates on the progress of the program by means of press releases. For more information: Press office: +31 88 659 5134 Investor relations: +31 88 659 5213 Social media: Twitter: @AholdDelhaizeNews YouTube: @CommunicationsAholdDelhaize LinkedIn: @Ahold-Delhaize Ahold Delhaize is one of the world’s largest food retail groups and a leader in both supermarkets and e-commerce. Its family of strong, local brands serves more than 50 million customers each week in 11 countries. Together, these brands employ more than 375,000 associates in 6,500 grocery and specialty stores and include the top online retailer in the Benelux and the leading online grocers in the Benelux and the United States.
    [Show full text]