Full Year 2020 Results
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An N U Al R Ep O R T 2018 Annual Report
ANNUAL REPORT 2018 ANNUAL REPORT The Annual Report in English is a translation of the French Document de référence provided for information purposes. This translation is qualified in its entirety by reference to the Document de référence. The Annual Report is available on the Company’s website www.vivendi.com II –— VIVENDI –— ANNUAL REPORT 2018 –— –— VIVENDI –— ANNUAL REPORT 2018 –— 01 Content QUESTIONS FOR YANNICK BOLLORÉ AND ARNAUD DE PUYFONTAINE 02 PROFILE OF THE GROUP — STRATEGY AND VALUE CREATION — BUSINESSES, FINANCIAL COMMUNICATION, TAX POLICY AND REGULATORY ENVIRONMENT — NON-FINANCIAL PERFORMANCE 04 1. Profile of the Group 06 1 2. Strategy and Value Creation 12 3. Businesses – Financial Communication – Tax Policy and Regulatory Environment 24 4. Non-financial Performance 48 RISK FACTORS — INTERNAL CONTROL AND RISK MANAGEMENT — COMPLIANCE POLICY 96 1. Risk Factors 98 2. Internal Control and Risk Management 102 2 3. Compliance Policy 108 CORPORATE GOVERNANCE OF VIVENDI — COMPENSATION OF CORPORATE OFFICERS OF VIVENDI — GENERAL INFORMATION ABOUT THE COMPANY 112 1. Corporate Governance of Vivendi 114 2. Compensation of Corporate Officers of Vivendi 150 3 3. General Information about the Company 184 FINANCIAL REPORT — STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS — CONSOLIDATED FINANCIAL STATEMENTS — STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS — STATUTORY FINANCIAL STATEMENTS 196 Key Consolidated Financial Data for the last five years 198 4 I – 2018 Financial Report 199 II – Appendix to the Financial Report 222 III – Audited Consolidated Financial Statements for the year ended December 31, 2018 223 IV – 2018 Statutory Financial Statements 319 RECENT EVENTS — OUTLOOK 358 1. Recent Events 360 5 2. Outlook 361 RESPONSIBILITY FOR AUDITING THE FINANCIAL STATEMENTS 362 1. -
Form 20-F 2011 UNITED STATES SECURITIES and EXCHANGE COMMISSION WASHINGTON, D.C
Form 20-F 2011 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 20-F/A (Amendment No. 1) (Mark One) ‘ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR Í ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2011 OR ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ‘ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 1-10888 TOTAL S.A. (Exact Name of Registrant as Specified in Its Charter) Republic of France (Jurisdiction of Incorporation or Organization) 2, place Jean Millier La Défense 6 92400 Courbevoie France (Address of Principal Executive Offices) Patrick de La Chevardière Chief Financial Officer TOTAL S.A. 2, place Jean Millier La Défense 6 92400 Courbevoie France Tel: +33 (0)1 47 44 45 46 Fax: +33 (0)1 47 44 49 44 (Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of each class Name of each exchange on which registered Shares New York Stock Exchange* American Depositary Shares New York Stock Exchange * Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the Securities and Exchange Commission. -
Adjusted Operating Income (Ebita)
2020 RESULTS MARCH 4, 2021 CONTENTS 1 Summary 3 2 Business review 17 3 Appendixes 29 2 1 SUMMARY 3 SUMMARY OF 2020 EARNINGS in millions of euros 2020 2019 Change ▪ Good results for all business lines despite the Revenue 24 109 24 843 (3%) pandemic. EBITDA (1) 3 265 2 913 12% Adjusted operating income: up 25% (+23% at constant scope and exchange rates) Adjusted operating income (EBITA(1)) 2 043 1 634 25% Bolloré Transportation & Logistics 607 637 (5%) Communications 1 627 1 526 7% Electricity Storage and Systems (102) (434) 76% ▪ Net income, Group share: +79%. Net income 1 563 1 408 11% This does not include the gain on the sale of 10% of the share capital of UMG on March 31, 2020, on Net income group share 426 237 79% the basis of an enterprise value of €30 billion for 100% of UMG. The sale was recognized in equity in the amount of €2.8 billion. ▪ Continued reduction in Bolloré's debt, excluding Net debt 9 136 8 720 415 Vivendi. o/w Bolloré excl. Vivendi 4 183 4 656 -473 ▪ Continued high level of liquidity of €9.2 billion at January 31, 2021, including €2.9 billion at Bolloré Gearing 35% 34% level. ▪ Proposed dividend: €0.06 (including €0.02 interim already paid in September 2020). (1) See glossary 4 GROUP STRUCTURE: ▪ Universal Music Group ▪ Sale of 20% of UMG to a Tencent-led consortium 10% on March 31, 2020 for €2,842 million based on an enterprise value of €30 billion for 100% of UMG and another 10% on January 29, 2021 for €2,847 million. -
To Download a PDF of an Interview with Jaleh Bradea, Chief Diversity
DIVERSITY & INCLUSION The Power of Individuality An Interview with Jaleh Bradea, Chief Diversity and Inclusion Offi cer, Vivendi SA EDITORS’ NOTE Jaleh Bradea has in our group. We can now see that, in With so many companies under the served as a TV producer on major order to be creative, innovative and Vivendi umbrella, is it important to have a French TV channels with a focus able to adapt to the changing expec- consistent, seamless D&I program or is it on women-related content and as tations of our clients, we have to be customized based on the different brand director of the audiovisual depart- diverse. cultures and businesses? ment at a successful telecommu- You mentioned diversity, I think it’s both. All these companies exist nication startup. In 2014, she inclusion, and belonging. How do without Vivendi itself. They have their own started working on Corporate Social these three areas relate to each successful businesses. They have their own HR Responsibility (CSR) initiatives at other? and, sometimes, even their own CSR. However, Canal+ Group. Bradea also works If you take a picture of the world, we have common initiatives led by Vivendi such with the French media regulator to it represents diversity. But what are as a CSR Committee. More recently, we created promote a fair representation of eth- you going to do with that diversity? a Diversity Committee where we share the best nicity, gender, and minority com- Jaleh Bradea This becomes inclusion. Belonging is practices in D&I from all the companies and munities in the French media. -
Financial Statement 2008
Jahresabschluss und Lagebericht Deutsche Telekom AG Lagebericht 1 1 Deutsche Telekom AG Annual financial statements and management report as of December 31, 2008 Contents. Management report of Deutsche Telekom AG 6 Organizational structure and business activities 10 The economic environment 13 Development of business 17 Corporate responsibility 18 Research and development 21 Employees 24 Risk and opportunity management 32 Supplemental report 32 Other disclosures 33 Outlook Annual financial statements of Deutsche Telekom AG 36 Statement of income 37 Balance sheet 38 Notes to the financial statements 38 Summary of accounting policies 42 Notes to the statement of income 49 Notes to the balance sheet 67 Other disclosures 86 Responsibility statement 87 Auditors’ report Further Information 90 List of abbreviations 92 Contacts 93 Disclaimer Deutsche Telekom AG's single-entity financial statements and management report for the 2008 financial year are published in the electronic Federal Gazette (Bundesanzeiger) and can also be accessed on the website of the register of companies. 4 4 5 Management report of Deutsche Telekom AG 6 Organizational structure and business activities 10 The economic environment 13 Development of business 17 Corporate responsibility 18 Research and development 21 Employees 24 Risk and opportunity management 32 Supplemental report 32 Other disclosures 33 Outlook 6 Management report of Deutsche Telekom AG. Organizational structure and Management, with the consent of the Supervisory Board, to increase the capital stock by up to EUR 38,400,000 by issuing up to 15,000,000 registered no par business activities. value shares for cash and/or non-cash contributions in the period up to May 2, 2011. -
Amendment to the 2020 Universal Registration Document
AMENDMENT TO THE 2020 UNIVERSAL REGISTRATION DOCUMENT including the 2021 Interim Financial Report The Amendment to the Universal Registration Document was filed on 26 July 2021 with the AMF as competent authority under Regulation (EU) 2017/1129 without prior approval pursuant to Article 9 of said Regulation. The Universal Registration Document may be used for the purposes of an offer to the public of securities or admission of securities to trading on a regulated market if approved by the AMF, together with any amendments, if applicable, and a securities note and summary, in accordance with Regulation (EU) 2017/1129. This Amendment updates, and should be read in conjunction with, the 2020 Universal Registration Document filed with the AMF on 29 April 2021 under number D.21-0385. The Amendment contains a cross-reference table allowing readers to easily locate information incorporated by reference and information that has been updated or amended. The 2020 Universal Registration Document together with this Amendment are available on the corporate website of Lagardère SA (www.lagardere.com) in the Shareholders and Investors/Regulatory Information section, as well as on the website of the AMF (www.amf-france.org). CONTENTS 1 2021 INTERIM MANAGEMENT REPORT ........................................................... 5 2 2021 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ..... 18 3 STATUTORY AUDITORS’ REVIEW REPORT ON THE HALF-YEARLY FINANCIAL INFORMATION ........................................................................... 60 4 CORPORATE GOVERNANCE ........................................................................ 62 5 ADDITIONAL INFORMATION ....................................................................... 138 This English version of this document has been prepared for the convenience of English-speaking readers. It is a translation of the original French Amendment to the 2020 Universal Registration Document. It is intended for general information only and in case of discrepancies the French original shall prevail. -
Tencent-Led Consortium and Vivendi Sign Agreement on UMG Investment
For Immediate Release Tencent-Led Consortium and Vivendi Sign Agreement on UMG Investment Hong Kong, December 31, 2019 – Tencent Holdings Limited (00700.HK, “Tencent”) announced that a Tencent-led consortium (the “Consortium”) and Vivendi S.A. (VIV.PA, “Vivendi”) today signed a share purchase agreement for the Consortium to acquire a 10% equity stake in Universal Music Group (“UMG”) from Vivendi, at an enterprise value of EUR30 billion (the “Transaction”). The Tencent-led Consortium is joined by Tencent Music Entertainment Group (NYSE: TME, “Tencent Music”) and certain global financial investors. Until January 15, 2021, the Consortium has the option to acquire up to an additional 10% equity stake in UMG at the same enterprise value as in the Transaction. Prior to the closing of the Consortium-UMG Transaction, TME and UMG also intend to enter into a second agreement that grants TME an option to acquire a minority equity stake in UMG’s Greater China business. This transaction will be subject to the receipt of regulatory approvals and other customary closing conditions, and is expected to close by the end of the first half of 2020. Vivendi is very happy with the arrival of Tencent and its co-investors. They will enable UMG to further develop in the Asian market. Tencent and the Consortium members are excited to support UMG’s growth through this investment. Together with Vivendi, Tencent and TME will work to broaden the opportunities for artists and to enrich experiences for music fans, further promoting a thriving music and entertainment industry.” -End- About Tencent Tencent uses technology to enrich the lives of Internet users. -
Bonne Progression Du Chiffre D'affaires Du Groupe Au Premier
COMMUNIQUÉ DE PRESSE Information financière du premier trimestre 2021 Le 22 avril 2021 Bonne progression du chiffre d’affaires du Groupe au premier trimestre 2021 : 6 102 millions d’euros, en hausse de 6 % à périmètre et taux de change constants Chiffre d’affaires du premier trimestre 2021 A périmètre et taux de change constants, le chiffre d’affaires du premier trimestre 2021 du Groupe est en progression de 6 % à 6 102 millions d’euros. Cette évolution intègre principalement : . ❖ une croissance de 15 % de l’activité transport et logistique grâce à la commission de transport notamment portée par la hausse des volumes et des taux de fret dans le trafic aérien et maritime. La contraction des activités logistiques en Afrique est en grande partie compensée par la bonne marche de l’activité des concessions portuaires ; ❖ le retrait de 10 % de l’activité logistique pétrolière en raison de la baisse des prix des produits pétroliers et des volumes vendus ; ❖ la progression des activités communication (+5 %) portée essentiellement par la croissance d’Universal Music Group (+9 %) et d’Editis (+40 %) ; ❖ la progression de l’activité stockage d’électricité et systèmes (+24 %) principalement grâce à la croissance de Blue Solutions et BlueBus. En données publiées, le chiffre d’affaires progresse de 2 % par rapport au chiffre d’affaires du premier trimestre 2020, compte tenu d’effets de change défavorables de -213 millions d’euros et d’un effet de périmètre de +20 millions d’euros. Page 1 Évolution du chiffre d’affaires par activité (en millions d’euros) -
And Duet Announce an Alliance to Present and Market the On-Demand Music Subscription Service Created by Sony Music Entertainment and Universal Music Group
Yahoo! and Duet Announce an Alliance to Present and Market the On-Demand Music Subscription Service Created by Sony Music Entertainment and Universal Music Group SANTA CLARA, NEW YORK and PARIS -- April 5, 2001 -- Today, Yahoo! Inc. (Nasdaq: YHOO), a leading global Internet communications, commerce and media company, and Duet, the online digital music subscription service created by the world's two largest music companies, Universal Music Group and Sony Music Entertainment, announced an alliance to present and market Duet's U.S. service to visitors to the Yahoo! network and Yahoo!® Music (http://music.yahoo.com). The Duet subscription service is expected to launch this summer. The on-demand Duet subscription service will offer consumers the opportunity to access a broad range of quality music online with speed, ease of use, and reliability while respecting artists' rights. The service will provide music enthusiasts with the ability to compile personalized playlists and to share them with other Duet members, among other features. The Duet service is expected to launch with streaming music and plans to add downloads shortly thereafter. The Duet subscription service will offer music from Sony Music and Universal Music on a non-exclusive basis. Duet also expects to offer music from other companies, in order to provide consumers with the best experience and access to the most compelling selection of music available. "Yahoo! is pleased to join Sony Music and Universal Music, the world's two largest music companies, to promote the Duet subscription service to U.S. music fans," said Jeff Mallett, president and chief operating officer, Yahoo! Inc. -
France Fund A-Euro for Investment Professionals Only FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET FRANCE FUND A-EURO 31 AUGUST 2021
pro.en.xx.20210831.LU0048579410.pdf France Fund A-Euro For Investment Professionals Only FIDELITY FUNDS MONTHLY PROFESSIONAL FACTSHEET FRANCE FUND A-EURO 31 AUGUST 2021 Strategy Fund Facts Bertrand Puiffe uses an unconstrained approach to portfolio construction, investing in Launch date: 01.10.90 companies based on their merits and not taking into account their prominence in the Portfolio manager: Bertrand Puiffe index. He takes a long-term view that allows him to benefit from market inefficiencies Appointed to fund: 01.09.17 created by the shorter-term time horizon of other investors. Bertrand has a very Years at Fidelity: 15 disciplined investment process based on systematic scoring of companies on Fund size: €64m qualitative and quantitative factors. He typically invests in three types of companies: Number of positions in fund*: 35 turnaround stories, special situations and where the market underestimates how strong, Fund reference currency: Euro (EUR) and for how long, growth can be sustained. Bertrand has a disciplined approach to risk Fund domicile: Luxembourg management at the stock level and during the portfolio construction process. Fund legal structure: SICAV Management company: FIL Investment Management (Luxembourg) S.A. Capital guarantee: No Portfolio Turnover Cost (PTC): 0.02% Portfolio Turnover Rate (PTR): 21.73% *A definition of positions can be found on page 3 of this factsheet in the section titled “How data is calculated and presented.” Objectives & Investment Policy Share Class Facts • The fund aims to provide long-term capital growth with the level of income expected Other share classes may be available. Please refer to the prospectus for more details. -
The Globalization of K-Pop: the Interplay of External and Internal Forces
THE GLOBALIZATION OF K-POP: THE INTERPLAY OF EXTERNAL AND INTERNAL FORCES Master Thesis presented by Hiu Yan Kong Furtwangen University MBA WS14/16 Matriculation Number 249536 May, 2016 Sworn Statement I hereby solemnly declare on my oath that the work presented has been carried out by me alone without any form of illicit assistance. All sources used have been fully quoted. (Signature, Date) Abstract This thesis aims to provide a comprehensive and systematic analysis about the growing popularity of Korean pop music (K-pop) worldwide in recent years. On one hand, the international expansion of K-pop can be understood as a result of the strategic planning and business execution that are created and carried out by the entertainment agencies. On the other hand, external circumstances such as the rise of social media also create a wide array of opportunities for K-pop to broaden its global appeal. The research explores the ways how the interplay between external circumstances and organizational strategies has jointly contributed to the global circulation of K-pop. The research starts with providing a general descriptive overview of K-pop. Following that, quantitative methods are applied to measure and assess the international recognition and global spread of K-pop. Next, a systematic approach is used to identify and analyze factors and forces that have important influences and implications on K-pop’s globalization. The analysis is carried out based on three levels of business environment which are macro, operating, and internal level. PEST analysis is applied to identify critical macro-environmental factors including political, economic, socio-cultural, and technological. -
General Meeting Brochure
GENERAL MEETING BROCHURE Annual Ordinary and Extraordinary General Meeting Wednesday, 30 June 2021 at 10 a.m. $$ # % 4 !#$%% %)% !#%#$ 1 % #$ &% $ !# ! $ * % !#%#$ 27 1 ( % !#%!% % # % 2 5 #! #%$ % $&!#'$ #* # 78 2 # % & # 6 #! #%$ % $%%&% #* &% #$ 91 % 6 #"&$%$ # '#* 3 #! #% % !#%#$ 9 &%$ #% 105 Lagardère SCA French partnership limited by shares (société en commandite par actions) with a share capital of €799,913,044.60 Registered office: 4, rue de Presbourg - Paris 16e (75), France Registered with the Paris Trade and Companies Registry under number 320 366 446 (SIRET number 320 366 446 00013) This English version has been prepared for the convenience of English-speaking readers. It is a translation of the original French Brochure de convocation prepared for the Annual Ordinary and Extraordinary General Meeting. It is intended for general information only and in the event of discrepancies, the French original shall prevail. !,,#! "+)' -$! (#%(# +-(!+, a benchmark in its industry. Other Activities, Lagardère News and Lagardère Live Entertainment, bore the brunt of the crisis on the advertising market in particular, as well as suffering from the closure of performance venues. However, the teams adapted quickly and creatively to continue to inform and to entertain, all whilst maintaining a sharp focus on controlling costs. These results underscore the relevance of our strategic model resulting from the refocusing completed in 2020, which is now based on two activities with diverse and complementary business models – a resilient powerhouse in Lagardère Publishing, and Lagardère Travel Retail, the growth engine primed for the rebound once the health crisis is under control – as well as Other Activities, and its roster of strong brands. This unprecedented period has also demonstrated the importance of our commitment to corporate social responsibility.