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Financial Report 2018 I AUCHAN HOLDING PRESENTATION

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Financial Report 2018 I AUCHAN HOLDING PRESENTATION Crédits photos : Médiathèque Auchan : Médiathèque photos Crédits 2018 ANNUAL FINANCIAL REPORT AND NON-FINANCIAL PERFORMANCE STATEMENT AND NON-FINANCIAL PERFORMANCE FINANCIAL REPORT ANNUAL 2018 AUCHAN HOLDING PRESENTATION 1 DECLARATION BY THE PERSON RESPONSIBLE FOR THE FINANCIAL REPORT 7 MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS OF AUCHAN HOLDING 9 2.1 Significant events in 2018 and main changes in the consolidation scope 10 2.2 Activities and results 11 2.3 Events after the reporting period 14 2.4 Outlook 14 2.5 Financial risk management 15 2.6 Internal control and risk management procedures implemented for all of the consolidated companies concerning the preparation and treatment of accounting and financial information 17 2.7 CSR policy 19 2.8 Vigilance plan 20 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 25 3.1 Consolidated assets 26 3.2 Consolidated equity and liabilities 27 3.3 Consolidated income statement 28 3.4 Consolidated statement of comprehensive income 29 3.5 Consolidated statement of net cash flows 30 3.6 Consolidated statement of changes in equity (before appropriation of profit) 31 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 33 STATUTORY AUDITORS' REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS 107 NON-FINANCIAL PERFORMANCE STATEMENT 113 6.1 Presentation of the business model 115 6.2 Employee chapter 121 6.3 Environment chapter 133 6.4 Partners chapter 143 6.5 Customers chapter 150 6.6 Activity of the foundations 156 6.7 Methodology 159 6.8 Report from one of the statutory auditors,on the consolidated non-financial performance statement 162 Financial report 2018 I AUCHAN HOLDING PRESENTATION Financial report 2018 I 1 Operating in 19 countries and 3 continents, Auchan Engaged in a transformation process since Holding combines 3 companies each working in 2016 and driven by its Vision 2030 plan, Immochan was renamed Ceetrus in June complementary lines of business: Auchan Retail, trading 2018. Evolving from commercial property in all forms of useful everyday consumer goods, Oney to a mixed-use retail estate developer, in banking to finance consumer buying, and Ceetrus Ceetrus’s mission is to contribute to in commercial real estate hosting our customers in developing the social bond that will drive modern and welcoming locations. Each business strives the city of the future through the creation of sustainable, smart and lively places to strengthen its position in its core market through an to live and shop. This evolution is taking economic and responsible approach while pursuing shape primarily on existing commercial profound transformations to achieve an ambitious sites. With the aim of enhancing their and meaningful vision for the future. Auchan Holding value and attractiveness to contribute is supporting these 3 in-depth, demanding but vital to the success of its traders and partners, Ceetrus reinvents commercial sites transformations through the engagement of its by integrating housing, offices, leisure 358,914 employees, who are proud of this unique and urban infrastructure. Keeping a experience in their company’s history. close eye on the city, the company also works with new programmes to provide each region with a comprehensive and tailored urban solution. The company has 1,124 employees. Auchan Retail combines all formats of the food trade with 4,084 banner sales outlets (hypermarkets, superstores, supermarkets and convenience stores), plus in some countries the welcome addition of e-commerce and drive-throughs. To build an all-powerful and modern business and change the lives of its customers, Auchan Retail’s every move is totally Oney is positioned as a different, customer-centred and focused on discount one-of-a-kind bank with a commercial prices, a wide range of choices, high quality background. Oney relies on an original service, adjustment to local markets, and full positioning and expertise developed over consideration for multichannel shopping habits. more than 35 years to create payment With 354,851 employees, the company solutions and innovative financial services. th is the world’s 35 largest employer. Every day, nearly 3,000 talents around the globe reinvent the bank, working for a more human relationship with the mission of “giving everyone the freedom to be and act”. With 400 business and e-commerce partners, Oney supports the projects completion of over 7.6 million customers around the globe by offering memorable shopping experiences in-store and online. 2 Financial report 2018 I 98.6% SALES 1.4 % €51 billion SALES BY GEOGRAPHICAL AREA The world’s Western largest food Europe France th retailer Deloitte Study “Global Powers of Retailing 2019” 19% 11 35% 19% 27% Operating Central and in 19 countries Eastern and 3 continents Europe Asia of which 263,376 shareholding employees358,914 employees 354,851employees employees1 ,124 employees2,581 OPERATING PROFIT FROM CONTINUING OPERATIONS NET FINANCIAL DEBT 2018 2018 €397 million €3,729 million EBITDA(1) : 2018 (1) EBITDA is defined as Operating profit from continuing operations €1,999 million excluding other recurring operating profit and expenses, depreciation, impairment and provisions. Financial report 2018 I 3 OUR CSR INDICATORS OUR CSR INDICATORS ENVIRONMENTAL IMPACT: ● of the average value of waste recovered by hypermarkets 65% and shopping malls of energy consumption per sq.m - 5.9% of surface area over a 1 year period CO emissions per sq.m over a 1 year period AUCHAN HOLDING MANAGEMENT BOARD - 7.1% 2 SOCIETAL IMPACT: 216 social projects projects supported by the foundations €2.8● million allocated to these projects ● Social Clause Initiative (ICS) conducted 1,103 on the factories making audits our own-brand products SOCIAL 62,277 permanent workers hired 13,162 meetings held with social partners 49%● of managers are women 4 Annual Financial Report 2018 I AUCHAN HOLDING SUPERVISORY OWNERSHIP BARTHÉLÉMY GUISLAIN CEO OF CAPITAL BOARD Auspar represented by THIERRY FOSSEUX 5%EMPLOYEE SHAREHOLDING JEAN-LOUIS CLAVEL MARION MENET-BUCHSENSCHUTZ 95%FAMILY SHAREHOLDING JÉRÔME MULLIEZ AUCHAN HOLDING MANAGEMENT BOARD An unlisted company with family shareholders and employee shareholders, Auchan Holding combines 3 independent companies: Auchan Retail, Ceetrus and Oney. EDGARD BONTE XAVIER VIANNEY DE MÉZERAC MULLIEZ Chairman of the Oney CEO Ceetrus Management CEO Board of Auchan Holding and CEO of Auchan Retail 3 INDEPENDENT COMPANIES EDGARD BENOIT BONTE JEAN-PIERRE LHEUREUX VIBOUD CEO General General Manager Manager Financial report 2018 I 5 6 Financial report 2018 I DECLARATION BY THE PERSON RESPONSIBLE FOR THE FINANCIAL REPORT Financial report 2018 I 7 CROIX, 8 MARCH 2019 I certify that, to my knowledge, the financial statements have been prepared in compliance with applicable accounting standards, and give a true view of the assets, financial situation and results of operations of the company and of all of the companies included within the consolidation scope. The management report provides an accurate description of the business trends, results of operations and financial situation of the company and all of the companies included in the consolidation scope, as well as a description of the main risks and uncertainties that they face. Edgard Bonte Chairman of the Management Board of Auchan Holding SA 8 Financial report 2018 I MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS OF AUCHAN HOLDING(1) FOR FINANCIAL YEAR 2018 (€Bn = Billions of euros, €M = Millions of euros) 2.1 Significant events in 2018 and main changes in the consolidation scope 10 2.2 Activities and results 11 2.3 Events after the reporting period 14 2.4 Outlook 14 2.5 Financial risk management 15 2.6 Internal control and risk management procedures implemented for all of the consolidated companies concerning the preparation and treatment of accounting and financial information 17 2.7 CSR policy 19 2.8 Vigilance plan 20 (1) In their entirety, with the exception of the Non-Financial Performance Statement (DPEF), the main principles of the Group's CSR policy are summarised in this publication Financial report 2018 I 9 MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS OF AUCHAN HOLDING 2 Significant events in 2018 and main changes in the consolidation scope A management report on Auchan Holding SA’s annual financial statements is also prepared. 2.1 SIGNIFICANT EVENTS IN 2018 AND MAIN CHANGES IN THE CONSOLIDATION SCOPE CHANGES IN THE STORE NETWORK ONEY BANK RECOGNISED AS "NON-CURRENT ASSETS HELD FOR SALE" The number of points of sale operated by Auchan Retail changed as follows in 2018: In 2018, negotiations were initiated for the disposal of the P in Western Europe, the number of points of sale decreased majority of shares in Oney Bank SA. At 31 December 2018, since by a net 4 units; the criteria established by IFRS 5 “non-current assets held for sale” were met, the contributions by Oney Bank and its in Central and Eastern Europe, the number of points of sale P subsidiaries to the income statement and statement of financial grew by a net 10 units, principally through 6 openings in position were classified under the relevant headings of Auchan Romania and 4 in Hungary; Holding’s consolidated financial statements (see note 2.6 to P in Asia and Africa, the store network grew by a net 284 units, consolidated financial statements). with 270 in China, 2 in Vietnam and 10 in Senegal. PARTNERSHIPS CHANGES IN THE CONSOLIDATION SCOPE Auchan Retail - Commercial partnership The consolidation scope changed as follows during 2018: with Casino Group, Metro and Shiever Auchan Retail Vietnam – Acquisition of Asia Investment In a first phase, on 3 April 2018, Auchan Retail and Casino Group On 28 February 2018, Auchan Retail Vietnam completed the announced that they had entered into exclusive negotiations 100% full-ownership acquisition of Asia Investment, the with a view to establishing, in compliance with competition operator of a Giant hypermarket at Crescent Mail. rules, a strategic partnership enabling them to jointly negotiate purchasing in France and internationally with their main Ceetrus Portugal multinational food and non-food suppliers.
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