Reference Document Annual Financial Report

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Reference Document Annual Financial Report Year 2008 Year Annual Financial Report Financial Annual including the including Reference Document including the Reference Document Document Reference Annual Financial Report Year 2008 www.lagardere.com Document prepared by the Corporate Communications Department This document is printed on paper from environmentally certifi ed sustainably PEFC/10-31-1222 managed forests. (PEFC/10-31-1222) 817_REFdoc_covHD_v4-c03_UK.indd 1 15/04/09 16:10 LAGARDÈRE SCA A French limited partnership with shares, with share capital of €799,913,044.60 divided into 131,133,286 shares of €6.10 par value each Head ofÞ ce: 4 rue de Presbourg - 75016 Paris (France) Commercial Register 320 366 446 RCS Paris website: www.lagardere.com Reference Document including the Annual Financial Report Year 2008 The original version of this Reference Document (Document de référence) in French was Þ led with the French Financial Market Authority (Autorité des Marchés Financiers - AMF) on 24 March 2009 in accordance with article 212-13 of the AMF Règlement Général (1). It may be used in connection with a Þ nancial transaction if completed by an Information notice approved by the AMF. (1) This is an English translation of the version which replaced the initial Reference Document fi led and made available online on 24 March 2009, and corrected the erroneous inclusion of a preliminary version of the Statutory Auditors’ report on internal control procedures in chapter 7, section 7-4-3-3, page 279. The fi nal version of that report, unchanged in substance, follows the model report recommended by the French National Institute of Statutory Auditors (Compagnie Nationale des Commissaires aux Comptes). The Annual Financial Report prepared in compliance with article L.451-1-2 of the French Financial and Monetary Code and article 222-3 of the General Regulation of the French Financial Market Authority is comprised of the information, documents and reports listed below, which are presented in the accompanying Reference Document, in the chapters, sections and pages indicated. Statement by the persons responsible for the information, documents and reports (Certifi cation by the persons responsible for the Annual Financial Report and the Reference Document) _______Chapter 1 page 6 Parent company fi nancial statements for 2008 ____________________________________________ Chapter 6-5 page 212 Consolidated fi nancial statements for 2008 ____________________________________________________ Chapter 6-3 page 127 Management report: Activities of the Company and the Group _______________________________________________ Chapter 5 page 30 ______________________________________________________________________________________________________________________________ Chapter 8-3 page 299 ___________________________________________________________________________________________________________________ Chapter 9 page 302 Results and Þ nancial position _________________________________________________________________________ Chapter 6-1 page 120 ______________________________________________________________________________________________________________________________ Chapter 6-2 page 122 ___________________________________________________________________________________________________________________ Chapter 6-4 page 210 Major risks _______________________________________________________________________________________________________________________ Chapter 3 page 14 Organisation of the Company and the Group, Corporate governance ___________________________________________________________________________________________ Chapter 7 page 232 Share capital, major shareholders, share buyback programmes etc., and principal provisions of the by-laws ___________________________________________________ Chapter 8 page 282 Statutory Auditors’ report on the parent company fi nancial statements _____________________________________________________________________________________ Chapter 6-6 page 228 Statutory Auditors’ report on the consolidated fi nancial statements ______________________________________________________________________________________________________________ Chapter 6-7 page 229 Reference Document Year 2008 Summary Chapter 1 Persons responsible for the Reference Document and persons responsible for the audit of the fi nancial statements ____________________________________________________ 6 Chapter 2 Consolidated key fi gures for 2008 ________________________________________________________________________________________________ 10 Chapter 3 Risk factors _______________________________________________________________________________________________________________________________________________________ 14 Chapter 4 General description of Lagardère SCA ________________________________________________________________________________________ 22 Chapter 5 Information on the business activities of the Company and the Group ________ 30 Chapter 6 Net assets – Financial position – Results ___________________________________________________________________________ 118 Chapter 7 Organisation of the Company and the Group – Corporate Governance _______ 232 Chapter 8 Other information on the Company ____________________________________________________________________________________________ 282 Chapter 9 Recent developments and outlook ____________________________________________________________________________________________ 302 Chapter 10 Documents available to the public _____________________________________________________________________________________________ 308 Chapter 11 Cross-reference index between the Reference Document and the schedule established by European legislation ____________________________________________ 310 This English language version of Lagard•reÕs Reference Document is a translation of the original Document de référence Þ led with the Autorité des Marchés Financiers. It is intended for general information only and is not a binding document. Lagardère – Reference Document 2008 CHAPTER 1 Persons responsible for the Reference Document and persons responsible for the audit of the Þ nancial statements 6 Chapter 1 – Persons responsible for the Reference Document and persons responsible for the audit of the fi nancial statements Chapter 1 – Persons responsible for the Reference Document and persons responsible for the audit of the fi nancial statements 1 1 - 1 Persons responsible for the information contained in the Reference Document _________________________________________________________________________________________________________________________ 8 Managing Partners ____________________________________________________________________________________________________________________________________ 8 1 - 2 Certifi cation by the persons responsible ________________________________________________________________________________________ 8 Certifi cation of the Managing Partners _____________________________________________________________________________________________ 8 1 - 3 Names and addresses of the Auditors _______________________________________________________________________________________________ 9 Lagardère – Reference Document 2008 7 Lagardère – Reference Document 2008 PERSONS RESPONSIBLE FOR THE INFORMATION CONTAINED 1 - 1 IN THE REFERENCE DOCUMENT Managing Partners ¥ Mr. Arnaud Lagard•re, ¥ Arjil CommanditŽe-Arco, represented by: Ð Mr. Arnaud Lagard•re, Chairman and Chief Executive OfÞ cer, Ð Mr. Philippe Camus, Deputy Chairman and Chief Operating OfÞ cer, Ð Mr. Pierre Leroy, Director and Chief Operating OfÞ cer. 1 - 2 CERTIFICATION BY THE PERSONS RESPONSIBLE Certifi cation of the Managing Partners ÒWe certify, after taking all reasonable measures to this effect, that to the best of our knowledge, the information set out in this Reference Document is accurate and contains no omissions which could impair its meaning. We certify that to the best of our knowledge, the Þ nancial statements have been prepared in compliance with the applicable accounting standards and provide a true and fair view of the assets, Þ nancial position and net income of the Company and all the entities included in the consolidation, and that the accompanying management report (chapter 3 pages 14 to 21; chapter 4 pages 22 to 29; chapter 5 pages 30 to 117; chapter 6-1 pages 120 to 121; chapter 6-2 pages 122 to 126; chapter 7 pages 232 to 281; chapter 8 pages 282 to 301; chapter 9 pages 302 to 307) fairly presents changes in the business, results and Þ nancial position of the Company and all the entities included in the consolidation, together with a description of the main risks and uncertainties encountered. We have obtained from the Auditors a letter issued upon completion of their engagement, stating that they have veri- Þ ed the information concerning the Þ nancial position and Þ nancial statements presented in this Reference Document and that they have read the entire Reference Document. The historical Þ nancial information presented in this document is covered by the reports of the Auditors which can be found on pages 228 to 230 of this Reference Document, and the information included by reference for 2006 and 2007 is covered by the AuditorsÕ reports contained in pages 286 to 289 of the 2006 Reference Document and pages 240 to 241 of the 2007 Reference Document.Ó Paris, 23 March 2009 Arnaud Lagard•re For Arjil CommanditŽe-Arco: Arnaud Lagard•re - Philippe Camus - Pierre Leroy 8 Chapter 1 – Persons responsible for the Reference Document and persons responsible for the audit of the fi nancial
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