DOCSLIB.ORG

Fromageries Bel REGISTRATION DOCUMENT Including the Annual Financial Report SUMMARY

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fromageries Bel REGISTRATION DOCUMENT Including the Annual Financial Report SUMMARY 2017 Fromageries Bel REGISTRATION DOCUMENT including the Annual Financial Report SUMMARY KEY FIGURES 2 FINANCIAL AND ACCOUNTING 5 INFORMATION 115 PRESENTATION OF ACTIVITIES 5 5.1 Historical fi nancial information 116 5.2 Pro forma fi nancial information 116 1 1.1 Group presentation 6 5.3 Review of fi nancial position and results 117 1.2 Market trends 13 5.4 Cash and cash equivalents and capital 1.3 Markets and activities in 2017 14 sources 118 1.4 Trends likely to affect production, 5.5 Financial statements 120 sales and inventories in 2018 16 5.6 Auditing of annual fi nancial information 201 1.5 Property, plant and equipment 17 5.7 Date of latest fi nancial information 202 5.8 Financial information for interim RISK FACTORS AND INSURANCE 19 and other periods 203 5.9 Dividend payout policy 203 2 2.1 General risk management policy 20 5.10 Legal and arbitration proceedings 203 2.2 Risks related to the external environment 21 5.11 Signifi cant change in the issuer’s 2.3 Risks related to the external environment 25 fi nancial or trading position 203 2.4 Financial risks 33 2.5 Insurance and risk coverage policies 35 SHAREHOLDING AND SHARE CORPORATE SOCIAL RESPONSIBILITY 37 6 TRANSACTIONS 205 3 3.1 A policy with a central place 6.1 Shareholding and share capital 206 in the Group’s strategy 38 6.2 Stock exchange 211 3.2 Working for the people well-being 40 3.3 Committing to sustainable farming 57 COMBINED GENERAL MEETING 3.4 Promoting caring nutrition 61 7 OF MAY 14, 2018 215 3.5 Reducing the environmental footprint 67 3.6 Methodological note 77 7.1 Agenda 216 3.7 Statutory Auditors’ reasonable 7.2 Text of the draft resolutions 217 assurance report on a selection of consolidated employee-related and environmental information included ADDITIONAL INFORMATION 221 in the Management Report 79 8 8.1 Individual responsible for the 3.8 Report by one of the Statutory Auditors, Registration Document and the Annual appointed as an independent third party, Financial Report 222 on the consolidated employee-related, 8.2 Information on the Company 223 environmental and social information 8.3 Information on subsidiaries and interests 224 included in the Management Report 81 8.4 Important contracts 226 8.5 Documents accessible to the public 226 CORPORATE GOVERNANCE 87 8.6 Cross references 227 4 4.1 Governance principles 88 4.2 Remuneration and benefi ts 104 4.3 Risk management and internal control procedures 108 4.4 Related-party transactions 112 Fromageries Bel A French limited company (société anonyme) with share capital of €10,308,502.50 Head offi ce: 2 allée de Longchamp, 92150 Suresnes SIREN No. 542 088 067 – Nanterre Trade and Companies Register 2017 REGISTRATION DOCUMENT including the Annual Financial Report The original French version of this translated Registration Document was fi led with the Autorité des marchés fi nanciers (AMF) on March 29, 2017, in accordance with Article 212-13 of the AMF General Regulations. It may be used in support of a fi nancial transaction provided that it is accompanied by an Information Memorandum approved by the Autorité des marché fi nanciers. This Registration Document was prepared by the issuer and its signatories are liable for its content. It may be used in support of a financial transaction The cross-reference tables between the paragraphs of provided that it is accompanied by an Information the Registration Document (Annex I to EU Regulation Memorandum approved by the Autorité des marchés No. 804/2004) and those of the Financial Report fi nanciers. provided for in article L. 451-1-2 of the French Monetary and Financial Code, as well as those of the This Registration Document was prepared by the issuer Management Report provided for in Articles L. 225-100 and its signatories are liable for its content. et seq. and Articles L. 225-102-1 et seq. of the French This report serves as the Registration Document of Commercial Code (according to the “Grenelle II” law the company Fromageries Bel, fi led thereunder with of July 2010, as amended by the “Warsmann” law of the Autorité des marchés fi nanciers pursuant to Article March 2012) are contained in chapter 8. 212-13 of the AMF General Regulations, including: For the purposes of this report (hereinafter the P the Annual Financial Report issued pursuant to “Registration Document”), unless otherwise stated, the Article L. 451-1-2-1 I and II of the French Monetary terms “Fromageries Bel” or “the Company” refer to the and Financial Code; Fromageries Bel company and the terms “Group” or P Fromageries Bel’s Management Report approved “Bel Group” refer to the Fromageries Bel company and by the Board of Directors pursuant to Articles its consolidated subsidiaries. L. 225-100 et seq. and Articles L. 225-102-1 et seq. of the French Commercial Code (according to the “Grenelle II” law of July 2010, as amended by the “Warsmann” law of March 2012); and P the Chairman’s Report prepared in accordance with Article L. 225-37 of the French Commercial Code. Fromageries Bel • Registration document 2017 1 A GLOBAL PLAYER IN HEALTHY DAIRY AND FRUIT SNACKING KEY FIGURES over 30 € 3,346 bn INTERNATIONAL AND LOCAL BRANDS IN SALES € 180 m € 215 M IN NET PROFIT - IN OPERATING 18 GROUP SHARE PROFITS BILLION 12,700 EMPLOYEES (2) PORTIONS SOLD 6.4% + € 168 m OPERATING MARGIN CHANGE IN CASH FLOW over 30 3 values ENTITIES DARE, CARE, COMMIT € 2,347 m TOTAL CAPITAL INVESTED (1) Other financial and accounting information, as well as the detailed financial statements, can be found in chapter 5 and in the table on the following page. (2) Operating margin corresponds to operating income divided by net sales. BREAKDOWN OF 2017 SALES 56% Europe €1,856 m IN SALES 22 % Americas, Asia-Pacifi c €750 M IN SALES 22 % 2 ORGANIC GROWTH Middle East, 75 50 250 -25 -50 -75 Greater Africa € 740 m (in millions of euros) IN SALES 2 Fromageries Bel • Registration document 2017 KEY FIGURES A GROUP COMMITTED TO A SUSTAINABLE BUSINESS MODEL Our “We care in every portion” CSR program embodies the positive innovation dynamic to offer consumers increasingly responsible products creating shared value. 4 PILLARS structure our constant improvement approach and guide Group employees as they support the development of Bel’s sustainable growth model. SUSTAINABLE CARING ENVIRONMENTAL PEOPLE FARMING NUTRITION FOOTPRINT WELL-BEING 2,650 400 millions 32 12,700 FARMER PARTNERS CONSUMERS PRODUCTION SITES EMPLOYEES AND 10,000 SUPPLIERS Taking action for a Enhancing the Reducing the Care about people – sustainable upstream nutritional value of environmental impact our own people and dairy leading the way our products and of producing and all the people we work for our farmer partners promoting healthier consuming our products with every day today and defi ning eating habits and standards of excellence lifestyles for tomorrow CREATING SHARED VALUE (in millions of euros) 3,600 6,400** 12,700 suppliers of dairy other employees raw materials suppliers Amortization and provisions -107 and packaging Net operating profit +215 Investment capacity -1,298 -1,160 -566 39% 35% 17% Self-financing Purchasing Other purchasing Payroll +157 5,600 Sales after dividends retailers +3,346 100% Taxes Dividends Bank charges External +113 -71 -70 -24 funding sources 3% 2% 0.5% Balance 26 1,600 30 Operating Financial Change in Governments Shareholders Financial cash position institutions investments* investments * Industrial investments, IT systems and business growth (change in working capital requirement). -107* +5 +168 3% 0% ** With annual sales exceeding €10,000. Fromageries Bel • Registration document 2017 3 KEY FIGURES SELECTED FINANCIAL INFORMATION (1) (in millions of euros) 2017 2016 Change SALES 3,346 2,936 14.0% Gross margin 1,020 1,053 -3.2% Gross margin (as a % of sales) 30.5% 35.9% OPERATING INCOME 215 298 -27.9% Of which: current operating income 226 327 -31.0% other non-recurring income and expenses -11 -29 -63.2% OPERATING MARGIN (2) 6.4% 10.2% NET PROFIT 181 217 -14.3% Of which: Group share 180 213 -15.6% Non controlling interests 6 4 -47.0% Diluted per share (in euros) 26.50 31.41 -15.6% TOTAL EQUITY INVESTED 2,347 2,355 -0.4% Of which: equity, Group share 1,629 1.577 3.3% non-controlling interests 85 90 net financial debt 632 688 Cash flow From operating activities 281 289 From investing activities (130) (906) From financing activities 17 257 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 168 (360) (1) Other financial and accounting information, as well as the detailed financial statements, can be found in chapter 5. (2) Operating margin corresponds to operating income divided by net sales. 4 Fromageries Bel • Registration document 2017 1 PRESENTATION OF ACTIVITIES 1.1 GROUP PRESENTATION 6 1.2 MARKET TRENDS 13 1.3 MARKETS AND ACTIVITIES IN 2017 14 1.4 TRENDS LIKELY TO AFFECT PRODUCTION, SALES AND INVENTORIES IN 2018 16 1.5 PROPERTY, PLANT AND EQUIPMENT 17 Fromageries Bel • Registration document 2017 5 1 PRESENTATION OF ACTIVITIES Group presentation 1.1 GROUP PRESENTATION 1.1.1 Group profi le Bel is an international family-owned business currently led by the Bel is committed to a sustainable growth strategy . Backed by fi fth generation of family managers. At over 150 years old, the the commitment of its 12,700 employees, its “We care in every Bel Group is a historical player on the cheese market and world portion ” CSR program embodies the positive innovation that the leader in portioned cheese.
Load more

Recommended publications
  • List of the Top Dairy Processors in the Dairy 100
    DAIRY 100 In Millions Code to Type: C=Cooperative; Pr=Privately-held company; Pu=Publicly-traded company; S=Subsidiary; An asterisk on a sales figure denotes a Dairy Foods estimate. SALES SALES COMPANY LOCATION DAIRY EXECUTIVE TYPE PARENT COMPANY, LOCATION FY END ‘11 ‘10 1. Dean Foods Co. Dallas, TX Gregg Engles, Chairman/CEO Pu 12/31/2011 $12,700 $12,123 Brands: Alpro (Europe), Alta Dena, Arctic Splash, Atlanta Dairies, Barbers, Barbe’s, Berkeley Farms, Broughton, Borden (licensed brand), Brown Cow, Brown’s Dairy, Bud’s Ice Cream, Chug, Country Charm, Country Churn, Country Delite, Country Fresh, Country Love, Creamland, Dairy Fresh, Dean’s, Dipzz, Fieldcrest, Foremost (licensed brand), Friendship, Gandy’s, Garelick Farms, Hershey’s (licensed brand), Horizon Organic, Hygeia, International Delight, Jilbert, Knudsen (licensed brand), LAND O LAKES (licensed brand), Land-O-Sun & design, Lehigh Valley Dairy Farms, Liberty, Louis Trauth Dairy Inc, Maplehurst, Mayfield, McArthur, Meadow Brook, Meadow Gold, Mile High Ice Cream, Model Dairy, Morning Glory, Nature’s Pride, Nurture, Nutty Buddy, Oak Farms, Over the Moon, Pet (licensed brand), Pog (licensed brand), Price’s, Provamel (Europe), Purity, Reiter, Robinson, Saunders, Schenkel’s All*Star, Schepps, Shenandoah’s Pride, Silk, Silk Pure Almond, Silk Pure Coconut, Stok, Stroh’s, Swiss Dairy, Swiss Premium, Trumoo, T.GLee, Tuscan, Turtle Tracks, Verifine, Viva. Products: Milk, cultured dairy, juice/drinks, water, creamers, whipping cream, ice cream mix, ice cream novelties. Plants: Fresh Dairy
    [Show full text]
  • Reinvent Snacking
    Reinvent Snacking. www.thelaughingcow.com www.facebook.com/LaughingCowFanPage www.twitter.com/thelaughingcow Creamy Turkey Wraps Wrap up a great-tasting moment with The Laughing Cow®, delicious turkey and colorful, crunchy kale. Enjoy every bite of this creamy, substantial snack. INGREDIENts • 2 wedges of The Laughing Cow® Creamy Swiss Light cheese • 4 large kale leaves • 4 slices thin, hickory-smoked turkey PREPARAtiON Spread The Laughing Cow® cheese onto the kale leaves. Top with hickory-smoked turkey and roll up. Secure with a toothpick, or wrap with foil if you’re packing them to eat later. Revel in the creamy texture and smoky flavor. Classic, Tart & Tasty Sometimes simple is best. Savor the creaminess of The Laughing Cow® with the fresh, tart and sweet taste of apples and crackers. INGREDIENts • 2 wedges of The Laughing Cow® Creamy Swiss Original cheese • 6 stone-ground crackers • Sliced Fuji or Honeydew apple • Fresh clover honey PREPARAtiON Spread The Laughing Cow® cheese onto stone-ground crackers. Top with apple slices. Drizzle with clover honey. Delight in every creamy, delicious bite. Garlic & Herb Grape Delight Awaken your senses with this tantalizing combo of The Laughing Cow® Creamy Swiss Garlic & Herb on crackers — topped with succulent, juicy grapes! INGREDIENts • Red grapes sliced in half, roasted if you’d like a deeper flavor • 2 wedges of The Laughing Cow® Creamy Swiss Garlic & Herb cheese • Sesame-seed crackers PREPARAtiON Roast the grapes on a cookie sheet in the oven at 450ºF for about 15 minutes or until skins are slightly crisp but the grapes are still soft and juicy on the inside; serve warm or at room temperature.
    [Show full text]
  • 2016 Bel Corporate Brochure.Pdf
    W E ARE BEL 3 — 4 OUR MISSION: SHARING SMILES THR O U G H U N I Q U E E X P E R I E N C E S O F D A I R Y GooDNESS. WE ARE BEL 5 — 6 WE MAKE SUPER ICONIC CHEESE BRANDS PEOPLE LOVE. 30+ brands, inc luding icons like The Laughing Cow, Kiri, Mini Babybel, Leerdammer and Boursin. WE ARE BEL 6 — 7 (3) (8) (2) OUR 12,000 EMPLOYEES WORLDWIDE ARE COMMITTED TO THE PLEASURE OF OUR CONSUMERS Headquarters Subsidiaries Plants R&D centers A M E R I C A AFRICA & & ASIA MIDDLE EAST EUROPE Australia Algeria Brazil Belgium Portugal (3) Egypt Canada Czech Republic Slovakia Iran China France (8) (2) Spain Ivory Coast Japan Germany Sweden Lebanon Korea Greece Switzerland Morocco (2) A 150-YEARS-OLD PRODUCTS SOLD 30+ COUNTRIES WITH Mexico Italy Ukraine Syria (activity suspended) FRENCH FAMILY IN 130 COUNTRIES A GROUP PRESENCE United States (3) The Netherlands (3) United Kingdom Turkey COMPANY & 30 ACTIVE Vietnam Poland United Arab Emirates PRODUCTION SITES WE ARE BEL 9 — 10 We believe We promote IN THE BENEFITS OF GOOD EATING HABITS DAIRY GooDNESS AROUND THE woRLD WE BRING HEALTHY SNACKING TO EVERYONE We want We invent DAIRY GooDNESS NEW WAYS TO SHARE TO BE ACCESSIBLE TO ALL PEOPLE DAIRY GooDNESS WE ARE BEL 11 — 12 Combining food safety, nutritional value, convenience and pleasure, our products bring dairy goodness all over the world. 110 + PRODUCT RENEWALS HAVE IMPROVED NUTRITIONAL QUALITY OR NATURAL CONTENT SINCE 2012 400 M + C O NSU M E R S IN ALmoST 130 COUNTRIES WE ARE BEL 13 — 14 We are industrial & manufacturing experts.
    [Show full text]
  • Facing the Fats
    Face the Fats Fats are important nutrients your body Saturated Fats needs. There are 4 types of fats in foods that Solid at room temperature. we eat: saturated, trans-, monounsaturated, and polyunsaturated. Different fats have Main sources: different effects on blood cholesterol levels. • All meats; fatty beef, lamb, pork, poultry skin, tallow (beef fat), lard Mono- and Polyunsaturated Fats • All dairy; butter, cream cheese, sour Liquid at room temperature. Vegetable oils, cream, ice cream nuts, seeds, and fatty fish are good sources. • All tropical oils; coconut, palm kernel and palm oils Sources of mono: • Canola, olive, and safflower oil These fats increase bad cholesterol and risk • Peanuts, peanut butter, pecans, of heart disease and stroke. Limit to 11-13g almonds per day. • Sesame seeds and sesame oil Trans Fats Sources of poly (omega-3): Solid at room temperature. • Soybean, corn and sunflower oils • Fatty fish like salmon, mackerel, Main sources are processed foods. herring, trout • Donuts, cakes, pie crusts, biscuits • Walnuts, sunflower seeds, tofu, • Frozen pizzas soybeans • Cookies, some crackers • Stick margarine Should be the main type of fat in your diet • Shortening or should replace saturated and trans fats. • Store-bought frosting Will help reduce LDL (“bad”) cholesterol • Small amounts in milk and meat and heart disease risk. Can increase weight products such as beef, lamb, butterfat if eaten in excess. These fats increase bad cholesterol and Include 2 servings of fatty fish per week. lower good cholesterol. They increase the One serving is 3.5 ounces cooked, or about risk of heart disease and stroke. Avoid these ¾ cup of flaked fish such as salmon, fats as much as you can.
    [Show full text]
  • Stage III/Soft Foods Diet
    Stage III/Soft Foods Diet MEAL IDEAS & RECIPES Stage III/Soft Foods Diet Stage 3: Soft Foods Gastric Bypass or Sleeve Gastrectomy: Starts: 14 days post surgery Duration: 21-30 days Tips for Tolerating Foods • Keep meats tender and moist. • Use a slow cooker. • Poach meat in broth. • Marinate meats in lemon juice or vinegar to tenderize. • Flavors are fine! You can use seasonings and spices. • Use low-fat, condiments for flavor and to moisten food -- salsa, mustard, plain fat-free Greek yogurt (Try it mixed w/ dill or parsely, lemon juice, salt & pepper), 1 tsp light mayo (1 fat), 1-2 tbsp avocado (1 fat), or 2 tbsp hummus (1 fat). • Slow down when you eat. Take at least 20 min minimum to eat your meal. • Take tiny bites the size of a dime. • Chew, chew, chew. Count for at least 20 chews; 30is even better when trying new foods. • Pause after each bite; wait for the food to reach your stomach to see how you feel. Eggs (1 whole egg or 2 egg whites or ¼ cup egg beaters = 1 Protein) ・ Scrambled or poached--don’t overcook! ・ Fried - Fry over easy or sunny side up using cooking spray. ・ Frittata (2 Protein, 1 Dairy) o Mix eggs and seasoning (i.e. salt, pepper, onion powder, paprika, etc) in a bowl. Add 1 oz reduced fat cheese per serving of eggs. Pour mixture into muffin pan which has been greased with Pam cooking spray. Bake at 350 degrees for 30 min (or until toothpick comes out clean). Store in fridge. Reheat in microwave.
    [Show full text]
  • Registration Document 2016 Including the Annual Financial Report
    Fromageries Bel Fromageries Registration Document Registration including theAnnualFinancialReport 2016 SUMMARY Key information 2 4.3 Chairman’s Report on risk management procedures and internal control 89 4.4 Statutory Auditors’ report on the Report of 1 Presentation of the Activities 5 the Chairman of Fromageries Bel, 1.1 Presentation of the Group 6 prepared in accordance with Article L. 225-235 of the French Commercial 1.2 Market trends 11 Code 95 1.3 2016 markets and business 13 4.5 Related party transactions 96 1.4 Trends likely to affect production, sales and inventories in 2017 15 1.5 Property, plant and equipment 16 5 Financial and accounting information 99 2 Corporate Social Responsibility 19 5.1 Historical financial information 100 5.2 Pro forma financial information 100 5.3 Review of financial position and results 101 2.1 Overall approach and development 20 5.4 Cash and cash equivalents and capital 2.2 Ethical business conduct 21 sources 102 2.3 Access to the benefits of dairy products 26 5.5 Financial statements 104 2.4 Sustainable dairy production 29 5.6 Auditing of annual financial information 183 2.5 Sustainable packaging 31 5.7 Date of latest financial information 184 2.6 Retaining employees and attracting talent 33 5.8 Financial information for interim and other 2.7 Reducing the environmental footprint 41 periods 184 2.8 Note on methodology 47 5.9 Dividend policy 184 2.9 Statutory Auditors’ Reasonable Assurance 5.10 Legal and arbitration proceedings 184 Report on a selection of consolidated 5.11 Significant change in the
    [Show full text]
  • Registration Document Including the Annual Financial Report
    Registration Document including the Annual Financial Report Document 2013 Registration 2013 Fromageries Bel Fromageries Bel Fromageries Contents Presentation of the Group Financial and accounting 1 and its activities 3 4 information 147 1.1 Presentation of the Group 6 4.1 Historical financial information 148 1.2 Market trends 10 4.2 Pro forma financial information 148 1.3 2013 markets and business 10 4.3 Review of financial position and results 148 1.4 Trends likely to affect production, 4.4 Cash and cash equivalents and capital sales and inventories in 2014 13 sources 150 1.5 Property, plant and equipment 13 4.5 Financial statements 152 1.6 Risk factors and insurance policy 15 4.6 Auditing of annual financial information 235 4.7 Date of latest financial information 236 4.8 Financial information 2 Corporate Social Responsibility 23 for interim and other periods 236 4.9 Dividend payout policy 236 2.1 The Bel Group’s CSR program 24 4.10 Legal and arbitration proceedings 237 2.2 CSR at the heart of the Group’s activities 32 4.11 Significant changes in the issuer’s 2.3 Partnerships and society 38 financial or trading position 237 2.4 Environmental footprint 49 2.5 Nutrition and responsible products 64 2.6 Responsible communication 5 Shareholding and Stock market 239 and consumption 80 2.7 Committed employer 85 5.1 Shareholding and share capital 240 2.8 Note on methodology 105 5.2 Stock Market 245 2.9 Report of the Statutory Auditors, designated independent third‑party entities, on the review of 6 Combined General Meeting 249 environmental,
    [Show full text]
  • PRESS KIT the Laughing Cow® Continues to Prepare for Its 100Th Anniversary in 2021 with a Third Collector’S Edition Box by Artist Jonathan Monk
    t presqu al es e im in po rig s o si e b r le t . Ê » « “ B .” e le in b g si or os igin mp al is al most i PRESS KIT The Laughing Cow® continues to prepare for its 100th anniversary in 2021 with a third Collector’s Edition Box by artist Jonathan Monk. The Collector’s Edition Boxes: Sharing Contemporary Art The Laughing Cow® (La Vache qui rit®) is Once on sale, the Collector’s Edition Boxes more than a smile and good humor: it’s an will present consumers with a choice: to incredible story of innovation and creativity. eat the contents (the natural thing to do) That’s why in 2014 the company launched an or to leave them unopened, both for their impressive series of collaborations with ma- aesthetic value and because each box is jor contemporary artists, each of whom will a work of contemporary art by an interna- design a not-to-be-missed Collector’s Edition tionally renowned artist. Box in celebration of the brand’s 100th anni- versary in 2021. These collaborations contin- By bringing contemporary art to the broad- ue the special rapport that has always existed est audience possible in a way that’s both between The Laughing Cow® and the artists original and offbeat, the Collector’s Edition who have used this modern icon as a source Box project epitomizes the philosophy of of inspiration for nearly a century. Lab’Bel, the artistic labora-tory of the Bel Group created in 2010. Each Collector’s Edition Box is an original work of art in its own right, made available to thousands of consumers and collectors at the standard retail price.
    [Show full text]
  • Document Including the Annual Financial Report
    Registration Document including the Annual Financial Report Document 2014 Registration 2014 Fromageries Bel Fromageries Bel Fromageries Contents Presentation of the Group Financial and accounting 1 and its activities 3 4 information 117 1.1 Presentation of the Group 6 4.1 Historical financial information 118 1.2 Market trends 11 4.2 Pro forma financial information 118 1.3 2014 markets and business 11 4.3 Review of financial position and results 118 1.4 Trends likely to affect production, 4.4 Cash and cash equivalents sales and inventories in 2015 14 and capital sources 119 1.5 Property, plant and equipment 15 4.5 Financial statements 122 1.6 Risk factors and insurance policy 16 4.6 Auditing of annual financial information 199 4.7 Date of latest financial information 200 4.8 Financial information 2 Corporate Social Responsibility 25 for interim and other periods 200 4.9 Dividend payout policy 200 2.1 Vision of sustainable growth 26 4.10 Legal and arbitration proceedings 200 2.2 Ethical behavior 32 4.11 Significant change in the issuer’s 2.3 Bel model 40 financial or trading position 200 2.4 Reducing the environmental footprint 53 2.5 Portions 60 2.6 Trusted brands 66 5 Shareholding and Stock market 201 2.7 Note on methodology 70 5.1 Shareholding and share capital 202 2.8 Statutory Auditors’ Reasonable Assurance Report on a selection 5.2 Stock market 207 of social and environmental information 72 2.9 Report from one of the Statutory Auditors, appointed as independent Combined General Meeting third party, on the consolidated 6 on May 12,
    [Show full text]
  • Bel Csr Program 2018 Communication on Progress a Policy with a Central Place 1 in the Group’S Strategy 7
    BEL CSR PROGRAM 2018 COMMUNICATION ON PROGRESS A POLICY WITH A CENTRAL PLACE 1 IN THE GROUP’S STRATEGY 7 WORKING FOR THE WELL-BEING 2 OF ALL 9 COMMITTING TO SUSTAINABLE 3 FARMING 28 PROMOTING CARING NUTRITION 34 contents 4 REDUCING THE ENVIRONMENTAL 5 FOOTPRINT 40 6 APPENDIX 51 About this document Where can this information be found? This document describes the Bel Group’s corporate social To provide further information on certain topics, this report refers responsibility (CSR) approach and its resulting actions with a to the Group’s Registration Document (available on the website view to creating value over the short, medium and long term. www.groupe bel.com). It specifi cally outlines the progress made in incorporating the principles of the UN Global Compact, which the Bel Group This document is available on the www.groupe bel.com joined in 2003. website, as well as on Global Compact website: www.unglobalcompact.org. The data published in this document cover all of Bel’s entities and subsidiaries, as consolidated in its Annual Financial Report. These data cover the period from January 1 to December 31, 2018, or provide a snapshot at December 31, 2018. When historical data is available, they cover the last three fi nancial years in order to provide an overview of the Group’s progress. For environmental data, Bel believes its progress is better illustrated over a longer timeframe. For this data, the baseline year is 2008. STATEMENT OF SUPPORT FOR THE UNITED NATIONS GLOBAL COMPACT In 2018, we made substantial progress in rolling out our “We care in every portion” CSR program with the ambition to make our brands ever more innovative and responsible.˝ Antoine FIÉVET Bel Group Chairman and Chief Executive Officer June 11, 2019 t Bel, we have always sought to make a positive Thanks to the engagement of our 12,600 employees impact on our global economic ecosystem and worldwide, 2018 was another year of accomplishments.
    [Show full text]
  • Dairy100 Table-ONLINE.Indd
    DAIRY 100 In Millions Code to Type (ownership): C=Cooperative; Pr=Privately held company; Pu=Publicly traded company; An asterisk on a sales figure denotes a Dairy Foods estimate. SALES SALES COMPANY LOCATION DAIRY EXECUTIVE TYPE PARENT COMPANY, LOCATION FY END ‘12 ‘11 1. Nestlé USA Oakland, CA Chris Johnson, EVP, Zone Director Pu Nestle, Vevey Switzerland 12/2012 $11,174 $10,443 Includes powdered and liquid beverages, milk products and ice cream in the Americas. Converted from Swiss francs. Brands: Dreyer’s/Edy’s Grand, Slow Churned, Dibs, Fruit Bars, Drumstick, Push- Up, Frosty Paws, Eskimo Pie, Skinny Cow, Häagen-Dazs, Nesquik, Coffee-mate Product: Ice cream, novelties, sherbet, sorbet, frozen yogurt, milk-based beverages, juices Plants (9). California: Bakersfield (ice cream, sherbet, novelties, frozen desserts), Tulare (ice cream, novelties, frozen yogurt, sorbet); Illinois: Jacksonville (Coffee-mate creamer); Indiana: Fort Wayne (ice cream, novelties); Anderson (RTD flavored milk, liquid nondairy creamers); Iowa: Waverly (Nestle Carnation instant breakfast, hot cocoa, Coffee-mate, Nestea, Newquik strawberry); Maryland: Laurel (ice cream, frozen desserts, novelties); New Jersey: Freehold (Taster’s Choice soluble coffee, Nestea soluble tea); Utah: Salt Lake City (ice cream, sherbet, frozen desserts). 2. Dean Foods Co. Dallas, TX Gregg Tanner, CEO Pu 12/2012 $9,320 $12,700 Sold Morningtar business to Saputo. Retains minority interest in WhiteWave. Brands: Alta Dena, Arctic Splash, Atlanta Dairies, Barbers, Barbe’s, Berkeley Farms,
    [Show full text]
  • Hungry Girl's Official 2014 Supermarket List
    Hungry Girl’s Official 2014 Supermarket List Abbreviations: FF = fat-free, RF = reduced-fat, LF = low-fat, SF = sugar-free, NSA = no-sugar-added DAIRY Eggs (for hard-boiled whites) Boneless skinless chicken breast & turkey breast (raw breasts, tenders & cutlets; Cheese Milk, Milk Swaps & Creamers precooked cutlets, strips & chopped) FF & RF shredded cheese Blue Diamond Unsweetened Vanilla Tyson Grilled & Ready, Applegate Sargento, Kraft, Weight Watchers, Lifetime Almond Breeze Naturals FF & RF slices So Delicious Dairy Free Almond Plus Applegate Naturals Chicken Nuggets Sargento, Kraft, Weight Watchers 5X Protein! (frozen) FF & RF block-style cheese Light vanilla soymilk (refrigerated) Lean chicken burgers Lifetime, Cabot Light, Kraft 8th Continent, Silk Weight Watchers (frozen), Al Fresco RF cheese snacks with 100 calories or less FF dairy milk (refrigerated) Mini Babybel, Weight Watchers, Cabot Unsweetened coconut milk beverage Fully cooked chicken sausage Serious Snacking (refrigerated & shelf-stable) (refrigerated) Light string cheese So Delicious, Blue Diamond Almond Al Fresco, Applegate Organics Frigo, Sargento, Weight Watchers Coconut Breeze Al Fresco All Natural Chicken Meatballs FF & RF crumbled feta cheese Good Karma Flax Milk (refrigerated) (refrigerated) Athenos, President FF & LF non-dairy liquid creamer Lean ground turkey (7% fat or less) The Laughing Cow Light cheese wedges Coffee-mate, Coffee-mate Natural Lean turkey burger patties (refrigerated & (new White Cheddar!) Bliss, So Delicious Original
    [Show full text]