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Reference Document Including the Annual Financial Report

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Reference Document Including the Annual Financial Report REFERENCE DOCUMENT INCLUDING THE ANNUAL FINANCIAL REPORT 2012 PROFILE LAGARDÈRE, A WORLD-CLASS PURE-PLAY MEDIA GROUP LED BY ARNAUD LAGARDÈRE, OPERATES IN AROUND 30 COUNTRIES AND IS STRUCTURED AROUND FOUR DISTINCT, COMPLEMENTARY DIVISIONS: • Lagardère Publishing: Book and e-Publishing; • Lagardère Active: Press, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage; • Lagardère Services: Travel Retail and Distribution; • Lagardère Unlimited: Sport Industry and Entertainment. EXE LOGO L'Identité / Le Logo Les cotes indiquées sont données à titre indicatif et devront être vérifiées par les entrepreneurs. Ceux-ci devront soumettre leurs dessins Echelle: d’éxécution pour approbation avant réalisation. L’étude technique des travaux concernant les éléments porteurs concourant la stabilité ou la solidité du bâtiment et tous autres éléments qui leur sont intégrés ou forment corps avec eux, devra être vérifié par un bureau d’étude qualifié. Agence d'architecture intérieure LAGARDERE - Concept C5 - O’CLOCK Optimisation Les entrepreneurs devront s’engager à executer les travaux selon les règles de l’art et dans le respect des règlementations en vigueur. Ce 15, rue Colbert 78000 Versailles Date : 13 01 2010 dessin est la propriété de : VERSIONS - 15, rue Colbert - 78000 Versailles. Ne peut être reproduit sans autorisation. tél : 01 30 97 03 03 fax : 01 30 97 03 00 e.mail : [email protected] PANTONE 382C PANTONE PANTONE 382C PANTONE Informer, Rassurer, Partager PROCESS BLACK C PROCESS BLACK C Les cotes indiquées sont données à titre indicatif et devront être vérifiées par les entrepreneurs. Ceux-ci devront soumettre leurs dessins d’éxécution pour approbation avant réalisation. L’étude technique des travaux concernant les éléments porteurs concourant la stabilité ou la Echelle: Agence d'architecture intérieure solidité du bâtiment et tous autres éléments qui leur sont intégrés ou forment corps avec eux, devra être vérifié par un bureau d’étude qualifié. 15 rue Colbert 78000 Versailles AVANT PROJET DETAILLE Les entrepreneurs devront s’engager à executer les travaux selon les règles de l’art et dans le respect des règlementations en vigueur. Ce tél : 0130970303 - fax : 0130970300 Date : 25/08/2010 dessin est la propriété de : VERSIONS - 15, rue Colbert - 78000 Versailles. Ne peut être reproduit sans autorisation. email:[email protected] Grasset Pantone: Quadri: ••• ••• ••• ••• Lagardère SCA French partnership limited by shares (société en commandite par actions) with share capital of €799,913,044.60 divided into 131,133,286 shares with a par value of €6.10. Registered office: 4 rue de Presbourg - 75116 Paris - France Telephone: + 33 (0)1 40 69 16 00 Lagardère is registered with the Paris Trade and Companies Registry (Registre du commerce et des sociétés) under number 320 366 446 Corporate website: www.lagardere.com REFERENCE DOCUMENT including the Annual Financial Report 2012 The original version of this Reference Document (Document de référence) in French was filed with the French financial markets authority (Autorité des Marchés Financiers – AMF) on 5 April 2013 in accordance with article 212-13 of the AMF’s General Regulations. It may be used in connection with a financial transaction if supplemented by an information notice approved by the AMF. This document has been prepared by the Company under the responsibility of the persons who signed the French original Document de référence. 2012 REFERENCE DOCUMENT CONTENTS PERSONS RESPONSIBLE FOR THE REFERENCE 6.6 Statutory Auditors’ report on the parent DOCUMENT AND STATUTORY AUDITORS AFR 5 Company financial statements AFR 196 1 1.1 Persons responsible 6.7 Statutory Auditors’ report on the consolidated for the information contained financial statements AFR 197 in the Reference Document 6 6.8 Special Statutory Auditors’ report on 1.2 Declaration by the persons responsible regulated agreements and commitments 198 for the Reference Document 6 1.3 Details of the Statutory Auditors 6 ORGANISATION OF THE COMPANY AND THE GROUP – CORPORATE GOVERNANCE AFR 199 CONSOLIDATED KEY FIGURES FOR 2012 7 7 7.1 General presentation of French partnerships 2 2.1 Consolidated key figures 8 limited by shares and of Lagardère SCA 200 2.2 Per share data 8 7.2 General Partners, Managing Partners and members of the Supervisory Board 201 RISK FACTORS AFR 9 7.3 Remuneration and benefits 213 3.1 Risks associated 7.4 Organisation, operation and control 3 with the economic environment 10 of the Company and the Group 227 3.2 Risks associated with the business activity 11 7.5 Transactions with related parties 3.3 Legal risks 12 (Managing Partners and members of the Supervisory Board) 241 3.4 Financial or market risks 14 3.5 Operational risks 14 OTHER INFORMATION ON THE COMPANY 243 GENERAL INFORMATION ABOUT LAGARDÈRE SCA 17 8.1 Share capital AFR 244 8 8.2 Principal provisions of the Company’s 4.1 General information about the issuer 18 Articles of Association AFR 249 4 4.2 History 19 8.3 Major contracts AFR 255 4.3 Organisation chart – principal subsidiaries – 8.4 Real estate property 256 relations between the parent Company and subsidiaries 20 AFR 4.4 Major investments 21 RECENT DEVELOPMENTS AND OUTLOOK 257 9.1 Recent developments 9 (since 1 January 2013) 258 INFORMATION ON THE BUSINESS ACTIVITIES OF THE COMPANY AND THE GROUP AFR 23 9.2 Outlook 259 5 5.1 Business activities and strategy 24 9.3 Earnings forecast 259 5.2 The Group’s principal activities and main markets – operations during 2012 25 DOCUMENTS ON DISPLAY 261 5.3 Corporate social responsibility and corporate citizenship – Ethics 52 10 NET ASSETS, FINANCIAL POSITION AND RESULTS 93 CROSS-REFERENCE TABLE 6.1 Per share data, dividend policy FOR THE REFERENCE DOCUMENT 263 6 and share performance AFR 94 11 6.2 Analysis of the Lagardère group’s financial position and results AFR 96 6.3 Consolidated financial statements at 31 December 2012 AFR 101 6.4 Analysis of the Lagardère SCA parent Company financial statements at 31 December 2012 AFR 180 6.5 Parent Company financial statements Items appearing in the Annual Financial Report at 31 December 2012 AFR 182 are cross-referenced with the following symbol AFR 2 The Annual Financial Report prepared in accordance with article L.451-1-2 of the French Financial and Monetary Code (Code monétaire et financier) and article 222-3 of the General Regulations of the French financial markets authority (Autorité des Marchés Financiers – AMF) comprises the information, documents and reports listed below, which are presented in the chapters, sections and pages indicated of the accompanying Reference Document. Statement by the persons responsible for the information (Statement by the persons responsible for the Annual Financial Report and Reference Document) ....................................................................... Chapter 1 ....................................... 5 Parent company financial statements for 2012 ................................................... Chapter 6.5 ............................... 182 Consolidated financial statements for 2012 ........................................................ Chapter 6.3 ............................... 101 Management report: Business activities of the Company and the Group ......................................... Chapter 5 ........................................ 23 Chapter 8.3 ................................... 255 Chapter 9 ...................................... 257 Results and financial position ........................................................................... Chapter 6.1 ..................................... 94 Chapter 6.2 ..................................... 96 Chapter 6.4 ................................... 180 Main risks ......................................................................................................... Chapter 3 .......................................... 9 Organisation of the Company and the Group – corporate governance ...................................................................................... Chapter 7 ...................................... 199 Information on the share capital, major shareholders, share buyback programmes and principal provisions of the Articles of Association Chapter 8.1 ................................... 244 Chapter 8.2 ................................... 249 Statutory Auditors’ report on the Parent Company financial statements ............ Chapter 6.6 ............................... 196 Statutory Auditors’ report on the consolidated financial statements .................. Chapter 6.7 ............................... 197 3 2012 Reference Document This page is left intentionally blank. CHAPTER 1 CHAPTER 2 CHAPTER 3 CHAPTER 4 CHAPTER 5 CHAPTER 6 4 04 06 07 08 09 16 17 22 23 92 93 198 Chapter 1 - Persons responsible for the Reference Document and Statutory Auditors 1 PERSONS RESPONSIBLE FOR THE REFERENCE DOCUMENT AND STATUTORY AUDITORS 1.1 PERSONS RESPONSIBLE FOR THE INFORMATION CONTAINED IN THE REFERENCE DOCUMENT AFR 6 Managing Partners 6 1.2 DECLARATION BY THE PERSONS RESPONSIBLE FOR THE REFERENCE DOCUMENT AFR 6 Declaration by the Managing Partners 6 Items appearing in the Annual Financial Report 1.3 DETAILS OF THE STATUTORY AUDITORS AFR 6 are cross-referenced with the following symbol AFR CHAPTER 7 CHAPTER 8 CHAPTER 9 CHAPTER 10 CHAPTER 11 93 198 199 242 243 256 257 260 261 262 263 267 5 2012 Reference Document 1.1 PERSONS RESPONSIBLE FOR THE INFORMATION CONTAINED IN THE REFERENCE DOCUMENT AFR MANAGING PARTNERS − Pierre Leroy, Deputy Chairman and Chief Operating
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