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Financial Report 2019 I 2019 ANNUAL FINANCIAL REPORT AND NON-FINANCIAL PERFORMANCE STATEMENT AND NON-FINANCIAL PERFORMANCE FINANCIAL REPORT ANNUAL 2019 Financial report 2019 I DECLARATION BY THE PERSON FOR THE FINANCIAL REPORT 8 PRESENTATION OF THE BUSINESS AND MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS 9 1.1 Significant events and main changes in scope 10 1.2 Activities and results 12 1.3 Corporate social responsibility 16 1.4 Events after the reporting period 18 1.5 Outlook 18 RISK MANAGEMENT 19 2.1 Financial risk management 20 2.2 Internal control procedure 21 2.3 Vigilance plan 23 CONSOLIDATED FINANCIAL STATEMENTS 29 3.1 Consolidated Financial statements 30 3.2 Notes to the consolidated financial statements 37 Summary STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS 113 NON-FINANCIAL PERFORMANCE STATEMENT 119 5.1 Introduction 120 5.2 Employees 123 5.3 Environment 136 5.4 Partners 148 5.5 Customers 155 5.6 Activity of the Foundations 162 5.7 Methodology 166 5.8 Report from one of the statutory auditors,on the consolidated non-financial performance statement 170 Financial report 2019 I 1 Auchan Holding combines two companies and an equity investment which operate in complementary business lines: Auchan Retail, a new generation retailer; Ceetrus, which develops Present in 14 countries, Auchan Retail covers all and manages sustainable, intelligent living spaces food retail formats (hypermarkets, supermarket, and stores. convenience stores and drive-throughs) with 2,293 With the support of Auchan Holding, each points of sale. Auchan Retail places inhabitants at the business line is taking a responsible approach to heart of everything it does, offering them a “phygital” strengthening its positions on its core markets, by shopping experience, which combines physical stores making profound transformations to achieve their with the digital ecosystem, and exclusive, high-quality vision, thanks to their 331,099 employees. products at the best price. Auchan Holding also holds an equity investment New generation retailers, “players for what is good, of 49.3% in Oney Bank, which since 2019 has healthy and local” market, the 329,694 Auchan Retail benefited from the joint expertise of BPCE and employees help everyone to live better by eating Auchan Holding to speed up its growth and better, by way of a responsible approach with all increase its presence in Europe in payment, finance their stakeholders (customers, producers, suppliers, and digital identification solutions associations, start-ups, etc.) BREAKDOWN OF SALES BY BUSINESS LINE KEY SALES FIGURES* €46.4bn 98.7% 1.3% SALES BY GEOGRAPHICAL AREA Southern Europe 13 France 3 20 Presence Central 29 in 15 countries and Eastern ON 3 CONTINENTS Europe Asia and Africa * Excluding Oney Bank. On 22 October 2019, Auchan Holding completed the disposal of 50.1% of the capital of Oney Bank to BPCE, which is now consolidating this entity. 2 Financial report 2019 I Involved in a transformation process since 2016 and driven by On 22 October 2019, Auchan Holding its 2030 Vision, Ceetrus continues to move from a commercial completed the disposal of 50.1% of the property company to a mixed use property developer. capital of Oney Bank to BPCE, which is now consolidating this entity. Ceetrus has set itself the aim of helping develop social ties that will drive the city of the future, creating sustainable, Oney Bank will now benefit from the joint expertise of BPCE and Auchan Holding connected and lively living spaces and stores. This evolution to speed up its growth and increase its is taking shape primarily on existing commercial sites. With presence in Europe in payment, finance the aim of enhancing their value and attractiveness to and digital identification solutions. contribute to the success of its traders and partners, Ceetrus reinvents commercial sites by integrating housing, offices, leisure and urban infrastructure. Keeping a 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: 950 employees. AUCHAN RETAIL CEETRUS 331,099 EMPLOYEES 329,694 950 of which 234,342 Employees Employees shareholding employees OPERATING PROFIT FROM CONTINUING NET FINANCIAL OPERATIONS EBITDA(1) : DEBT 2019 2019 2019 1,042 M€ 2,913 M€ 3,870 M€ (1) EBITDA is defined as Operating profit from continuing operations excluding other recurring operating profit and expenses, depreciation, impairment and provisions. Financial report 2019 I 3 BUSINESS_MODEL_AUCHAN_UK-HD-V2.pdf 1 19/03/2020 08:56 provide a phygital shopping experience combining the best aspects of products, our teams, suppliers and producers offer a range of responsible, brick-and-mortar stores with the digital ecosystem to improve quality of fair solutions, products and services - bringing people together, creating ambition life for local residents. Actively committed to good, healthy and local experience and improving the quality of life through better eating. RESOURCES • Turnover: STRATEGIC PILLARS • Number of employee shareholders: 233,605 • EBITDA: offer HUMAN • Percentage of internal promotion from non-managers to managers: 31.39% • Number of sales outlets under brand name: • Share of permanent employee in total workforce: ine 73.52% Inhabitants Employees • Number of training hours per employee: • Share of full-time employees in total workforce: • Number of employees: 329,694 Drive 82.63% E-commerce –up • Percentage of C women managers: 49.6% • supported by foundations M • Percentage of employees J with disabilities: Hypermarket CM • Number of meetings between management and staff • Net promoter score: (operational in 8 countries) MJ Data representatives: 9,658 driven CJ CMJ User Supermarket centric • Evolution of carbon intensity N • Number of social audits Ultra-convenience of stores: on international suppliers: • Evolution of store energy consumption per sq m 1,127 of surface: • Signatory of the Global Compact, • Evolution of tonnage of member of the Consumer Good Forum Partners recovered waste: and the Initiative for Compliance and Sustainability • Evolution of waste recovery rate in hypermarkets: • allocated to foundations • plastic bottles collected 3 for recycling in Auchan stores in France To meet the requirements • Energy consumption: of surface Suppliers Encourage healthy eating of Auchan • Waste production in hyper: 1 brand products Encourage Fight food Control our Our social STAKEHOLDERS healthy eating waste carbon footprint commitments and the use Local of plastic Non- Trade national and Fight food waste and the use of plastic profits unions international 2 authorities Partners Industrial Local 3 Control our carbon footprint in sector partners producers 4 Financial report 2019 I BUSINESS_MODEL_AUCHAN_UK-HD-V2.pdf 1 19/03/2020 08:56 provide a phygital shopping experience combining the best aspects of products, our teams, suppliers and producers offer a range of responsible, brick-and-mortar stores with the digital ecosystem to improve quality of ambition eating. RESOURCES STRATEGIC PILLARS 233,605 offer HUMAN 31.39% Share of permanent employee in total workforce: 73.52% Inhabitants Employees • Share of full-time employees in total workforce: 329,694 Drive 82.63% E-commerce –up C women managers: 49.6% M J with disabilities: Hypermarket CM • Number of meetings between management and staff MJ 9,658 driven CJ CMJ Supermarket centric N Ultra-convenience 1,127 • Evolution of tonnage of Partners recovered waste: Sustainability • Evolution of waste recovery rate in hypermarkets: 3 Suppliers Encourage healthy eating of Auchan 1 brand products Encourage Fight food Control our Our social STAKEHOLDERS healthy eating waste carbon footprint commitments and the use Local of plastic Non- Trade national and Fight food waste and the use of plastic profits unions international 2 authorities Partners Industrial Local 3 Control our carbon footprint in sector partners producers Financial report 2019 I 5 BUSINESSMODEL_CEETRUS_AUCHAN_UK-HD.pdf 1 19/03/2020 09:03 Retail Business Developer Property Management Urban planning Investor model Asset Management CO-BUILT POSITIVE IMPACT TAILORED Mixed-use real Housing s »L etru iving estate developer Developer Ce a y re Promoter B a As Auchan's historic commercial « real estate partner, Ceetrus ensures the effective management of its MIXED-USE Office assets and enhances the OPEN TO LOCAL attractiveness of its sites by means space of mixed use developments ranging COMMUNITIES Developer from shops, housing and offices to Promoter leisure and urban infrastructure. Its new projects extend beyond purely commercial usages to all aspects of SERVICE BRINGING PEOPLE city life, Ceetrus provides global HUB TOGETHER urban solutions, co-constructed with local players and tailored to meet the needs of the local Service community. It strengthens bonds and leisure Lorem ipsum within these communities, by areas consulting local players and Developer ensuring the vibrancy of localities. Urban planning Planning Having first identified the needs of the local Development community by consulting and dialoguing with all relevant stakeholders, Ceetrus Restructuration co-creates and develops global and #Development Economic figures tailor-made urban solutions,
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