Thales 2017 Registration Document

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Thales 2017 Registration Document www.thalesgroup.com 2016 Registration Document Including the Annual Financial Report WorldReginfo - 4cd4fc29-234b-4680-85ba-6c698b5f3f1f TABLE OF CONTENTS CHAIRMAN’S FOREWORD 2 OVERVIEW OF THE GROUP 3 KEY FIGURES AND HISTORY 4 1. 2016 FINANCIAL INFORMATION 6 1.1 Management report 8 1.2 Consolidated financial statements 27 1.3 Parent company management report and financial statements 72 2. BUSINESS REVIEW 102 2.1 Operating segments 104 2.2 Research and innovation 112 2.3 Relations between Thales and its subsidiaries 115 2.4 Information about major operational subsidiaries and manufacturing sites 117 3. CORPORATE GOVERNANCE 120 3.1 Composition of the Board of Directors at 31 December 2016 122 3.2 Chairman’s report to the General Meeting of 17 May 2017 on corporate governance, internal control and risk management 130 3.3 Statutory auditors’ report prepared in accordance with Article L. 225-235 of the French Commercial Code (Code de commerce) on the report of the Chairman of the Board of Directors of Thales 143 3.4 Corporate management 144 3.5 Compensation of directors and senior corporate officers 145 3.6 Incentives and profit-sharing 157 3.7 Statutory auditors 158 4. COMPANY AND SHARE CAPITAL 160 4.1 General information about the Company 162 4.2 Annual General Meetings 163 4.3 Share capital and shareholders 164 4.4 Related-party agreements 176 4.5 Stock market information and financial communication 179 5. CORPORATE RESPONSIBILITY 184 5.1 Human resources information 186 5.2 Environmental information 201 5.3 Social Information 213 5.4 Statutory auditors’ Independent Third-Party report on consolidated social, environmental and societal information published in the management report 220 5.5 Table of reconciliation (Articles L. 225-102-1 and R. 225-105-1 of the French Commercial Code) 222 DECLARATION FROM THE PERSON RESPONSIBLE FOR THE REGISTRATION DOCUMENT 225 EUROPEAN CROSS-REFERENCE TABLE (ANNEX 1 OF THE EUROPEAN REGULATION NO. 809/ 2004) 226 ANNUAL FINANCIAL REPORT RECONCILIATION TABLE 230 WorldReginfo - 4cd4fc29-234b-4680-85ba-6c698b5f3f1f 2016 REGISTRATION DOCUMENT INCLUDING THE ANNUAL FINANCIAL REPORT This Registration Document was filed with the French financial markets authority (Autorité des marchés financiers, AMF) on 5 April 2017, in accordance with Article 212-13 of the AMF General Regulations. It may only be used in support of a financial transaction if accompanied by an offering circular authorised by the AMF. It was drawn up by the issuer and its signatories accept liability. The English language version of this report is a free translation from the original, which was prepared and filed with the AMF in French. All possible care has been taken to ensure that the translation is an accurate presentation of the original. However, in all matters of interpretation, views or opinions expressed in the original language version of the document in French take precedence over the translation. In accordance with Article 28 of Commission Regulation (EC) No. 809 / 2004, the following information is incorporated by reference in this Registration Document: • the consolidated financial statements and corresponding audit reports presented on pages 29 to 86 of the 2014 Registration Document filed with the AMF on 1 April 2015; • the Group’s financial information, key figures and management report, presented respectively on pages 5 and 8 to 28 of the 2014 Registration Document filed with the AMF on 1 April 2015; • the consolidated financial statements and corresponding audit reports presented on pages 29 to 87 of the 2015 Registration Document filed with the AMF on 31 March 2016; • the Group’s financial information, key figures and management report, presented respectively on pages 5 and 8 to 28 of the 2015 Registration Document filed with the AMF on 31 March 2016. The omitted sections of these documents are either irrelevant to the investor, or addressed elsewhere in this Registration Document. 2016 Registration Document — THALES 1 WorldReginfo - 4cd4fc29-234b-4680-85ba-6c698b5f3f1f CHAIRMAN’S FOREWORD “2016 represented another successful milestone for our profitable growth strategy. Order intake remained at a high level, outperforming sales for the fourth year in a row. The Group enjoyed significant commercial successes in in-flight entertainment, urban rail signalling, with the extension of the Dubai metro, and Defence & Security, with the order of 36 Rafale fighter aircraft by the Indian government. The fact that these major contracts were signed confirmed the Group’s momentum in emerging markets, which has been one of our strategic priorities since 2013. Organic sales growth came out at +7%, with all of our businesses contributing to this performance. Profitability continued to increase in line with our medium-term targets. At the same time, we were able to increase our investments in innovation, digital transformation and talent development. The Group’s strategic priorities remain unchanged for the coming years. We are staying focused on leveraging all the performance drivers identified in our Ambition 10 strategy: growth, competitiveness and people – the latter being key to the success of a high-tech Group such as Thales. Thales will be able to count on a solid momentum in its civil markets, driven by long-term trends such as the growth in air travel, the increasing urbanisation of emerging markets, and the need for more efficient transport infrastructure in mature markets. The Group also expects to benefit from the inflection of defence budgets, which has reached a political consensus in most European countries. Furthermore, the digital transformation that both our civil and military customers are undergoing represents an excellent development opportunity for Thales. The nature of our business, typically focused on processing sensor-generated data, has enabled us to develop an extensive expertise in four key digital technologies: connectivity and mobility, crucial to the internet of Things, “Big Data”, the processing “ANOTHER SUCCESSFUL of very large data sets, Artificial Intelligence, and cyber-security, essential in every digital transformation project. By leveraging these MILESTONE FOR skills, and strengthening them through increased Research & Development as well as targeted acquisitions where necessary, not OUR PROFITABLE only will we be able to grow the incremental innovations we offer our customers, but we will also have the ability to conceive breakthrough GROWTH STRATEGY” innovations that may open up new markets. At the same time, we will continue to implement the many initiatives already underway that are designed to improve our competitiveness, such as rolling out best practices in engineering, ramping up purchasing initiatives and pursuing the transformation of our support functions. Thanks to the commitment of all its teams, Thales is driving a deep transformation that will foster profitable and sustainable growth.” Patrice Caine Chairman & Chief Executive Officer THALES — 2016 Registration Document 2 WorldReginfo - 4cd4fc29-234b-4680-85ba-6c698b5f3f1f OVERVIEW OF THE GROUP Thales is a global company helping to make the world a safer place. Wherever complex environments exist, the Group partners locally and internationally with public stakeholders and business clients in order to provide reliable, efficient and secure solutions, across five key markets: Aeronautics, Space, Ground Transportation, Defence and Security. In Aeronautics, Thales equips pilots, crews and controllers AERONAUTICS with fully connected, technology-enabled avionics and TOGETHER, air traffic control solutions suited to this complex and demanding environment. Whilst ensuring safety and security, the connected solutions SAFER, simplify operational management in aircraft flying in more densely crowded skies; they further increase fuel and operational efficiencies, shorten journey and turn- EVERYWHERE. around times; and provide passengers with an ever more entertaining and connected flying experience. Thales integrates smart technologies, In Space, Thales is a premier manufacturer of satellites systems, software, services and equipment. SPACE and space technologies. Thales designs, integrates, The Group innovates, develops and builds deploys and operates innovative space systems. end-to-end solutions, at the heart of which Featuring cutting edge technologies, these systems meet the needs of commercial, are infrastructure operators, controllers, government, scientific, defense and security customers. Thales sets the global pilots, armed forces and crews, the people standard for space systems that provide communications and navigation services, whose role it is to make critical decisions monitor our environment and the oceans, help us to gain a better understanding of every day. Thales places at their disposal climate change and drive scientific progress. sensors and cyber secure data In Ground Transportation, Thales works in partnership communications, decision support systems, GROUND with customers to deliver innovative, integrated, end-to-end services, controlled and automated TRANSPORTATION signalling, supervision and ticketing solutions that bring response systems. significant levels of operational automation, efficiency, With solutions embedded into critical control and safety, whilst delivering enhanced passenger experiences and improved operating environments, Thales ensures network capacities. that decisions-makers are better equipped In Defence, Thales equips defence forces in the air, on to assess and respond to the operational DEFENCE
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