2008 Annual Report

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2008 Annual Report 2008 Annual Report Head Office - General Management 35, rue de Bassano – 75008 Paris – France Phone : +33 1 44 31 11 00 Fa x: +33 1 44 31 11 30 email : [email protected] Web: www.cnim.com Incorporated in France as a “Société Anonyme” with Management Board and Super visor y Board with registred capital of 6,056,220 euros RCS Paris B662 043 595 SIR ET 662 043 595 00138 WorldReginfo - cfc675bd-acf1-4470-9e48-dbde71866e56 Key figures 40% € 35.7 678.1 M Consolidated sales 31.5% 26.5 € 26.5 M 20.5% Net income Environment Mechanical Engineering 8% Energy 2008 3,460 2007 Bertin Workforce, Compared net income Breakdown of sales 1,244 outside France 2007/2008 (in ME) by sector of activity 02 — Message from the Chairman of the Management Board 04 — Message from the Chairman of the Supervisory Board 07 — Stock Market 08 — Highlights 12 — The CNIM Group 18 — CNIM Business Sectors The L-CAT (Landing Catamaran), Design and production: launched in 2008, perfectly illustrates 44 — Organisation Chart the Group’s new signature: “Innovate Photos credit: Architrav, Astrium Space transportation, Bertin, CNIM, CNIM - Cybernétix - copyright Southern Fusion Contractors, and Act” DCNS, Detrois pour JP Viguier,LAb GmBH, Babcock Wanson Italiana, Babcock Wanson, Babcock Wanson UK, GRDF/Frédéric It perfectly symbolizes: — the creative energy which enables to 46 — Contacts Larivère, ITER, Saada/Schneider – Girafe – Photo. develop highly innovative technologies — its strong capacity to act based on This report is printed on Lys Attitude paper, which is certified by the Programme for the Endorsement of Forest Certification (PEFC), in the sound financial and industrial assets interest of sustainable forest development. It was printed by an Imprim’vert-certified printing company, which has undertaken not to use PEFC/10-3-1190 FCBA/08-00860 toxic products while ensuring that any harmful waste it produces is collected and processed in an environmental manner. WorldReginfo - cfc675bd-acf1-4470-9e48-dbde71866e56 Profile of the CNIM Group The CNIM Group provides turnkey industrial solutions with high technological content and offers research and expertise services through its subsidiary Bertin. Its main business sectors are Environmental, Engineering, Complex Systems for Defence and Industry, Transport, Energy and Life Sciences. CNIM’s industrial offer is structured along 5 specialized product and service lines: • Environment • Defence-Systems • Transport • Energy • Bertin Innovative, dynamic and efficient, CNIM aims to achieve technical excellence for each of its activities At the end of 2008, the CNIM Group decided to develop a new business sector by setting up a Solar Energy Division to rapidly position the company as developer and turnkey supplier of thermal solar power plants. WorldReginfo - cfc675bd-acf1-4470-9e48-dbde71866e56 02-03 CNIM › ANNUAL REPORT 2008 Message from the Chairman of the Management Board In 2008, the CNIM Group registered and within the Group’s portfolio a highly encouraging level of orders, of activities, is demonstrating its ability worth e924 million, and has an order to target totally new markets the right book amounting to e1 billion: the way. The huge contract won in threshold we had set as an objective Azerbaijan in the midst of a financial for the end of 2009. At the same time, storm, and the substantial progress our sales rose by 22%. in Bahrain are both excellent examples. This is clearly an already positive sign, and we can put a better face And there is still groundwork to be on the financial and economic crisis carried out in a number of new now shaking the world. territories, as it is becoming increasingly Even though the nature of our activities obvious to all objective observers that places us in a relatively protected the technologies we promote – recycling, position and absorbs the shocks, we are waste-to-energy processing, and under no illusion: we are not immune. methanisation to a lesser extent – It is clear that our key European private are the only economically and customers will be showing less environmentally satisfactory ways enthusiasm for new environmental forward in dealing with the serious investments by project financing problem of municipal waste. in 2009, just as it is evident that some new members of the European Union At the same time, the activity of our will be forced to revise their priorities. subsidiary LAB in flue gas treatment In this more difficult context, if it is has maintained a satisfactory level, to keep going, the CNIM Group will but logically, that is just the area where need to aim for growth: economic turbulence is felt the most. According to the economic logic that firstly, through stronger commercial prevailed before the crisis, action in emerging and solvent markets; environmental investments served as an adjustment variable. secondly, through a constantly sustained effort to innovate in its core We may hope that the new economic activities or directly related fields. state of affairs will include a real place for sustainable development, which The results of the actions carried out would have positive consequences or completed in 2008 for each large sector for LAB in the medium term. of activity already illustrate these two approaches: the effective and selective The Defence-Systems sector is expansion of our global presence, continuing to carry out long term and innovation as our guiding principle. programmes while accelerating its effort in research and innovation, The Environmental sector, which including in the field of new energies, is consolidating its pole position, both mechanised bridge vehicles, composite externally in the European market materials and nuclear-related activities. WorldReginfo - cfc675bd-acf1-4470-9e48-dbde71866e56 Stefano COSTA Dominique DELAHAYE Member of the Management Board Member of the Management Board Director of Environment Division Director of Administration and Finance Two major events took place in this In addition, the opening of a subsidiary period of crisis as best we can, but also respect. in Algeria will enhance and assert to be in a position to continue growing Firstly, in October, the launching of the presence of CNIM Babcock Services once it is past. the L-CAT (Landing Catamaran), which in the Mediterranean basin. completed a series of trials at sea to In terms of financial performance, validate its performances, confirming Bertin, a subsidiary integrated into the sales figure in 2008 came to e678 its completely original capacities for the CNIM Group a year ago, is million: an increase of 22%. The current military and civil landing operations, a reference player in activities with operating income rose to e21 million: including on coasts hitherto inaccessible. a strong technological content, a modest level mainly due to increased Prospects for orders look highly both in carrying out studies and in commercial and technological encouraging. the design and provision of innovative “investment”. Its improvement is equipment. It is the contract R&D a priority for the Management Board. Secondly, the creation of a Solar Energy reference for third parties. Bertin has Net profit came to e26.5 million, Division, in view of making CNIM its own customers, and also operates down 26% from 2007, marked a player in this up-and-coming field in synergy with the CNIM Divisions to by an exceptional gain in real-estate as a technological designer, particularly organise proposals and undertake major transactions. in concentrated solar power, and projects, both within and outside France. a supplier of turnkey power stations. CNIM aims to gain from an active As we had anticipated when the recruitment policy to further boost the The Transport sector has been acquisition was decided, Bertin is proportion of fresh young talent among considerably restructured with the the “pioneering researcher” in new its employees. With the rapid growth set-up of an operational centre for design domains for CNIM. This is particularly of our order book, we need to take action and industrialisation in China. We have the case with the life sciences, where in order to attract the best collaborators added new items to our catalogue in the subsidiaries SPI-Bio, Elipse, and and integrate them well. This is also response to specific projects for fitting the latest acquisition Biotec make up a good way of preparing the future out large commercial buildings and a highly competitive centre of excellence. clear-headedly and with ambition. increasing safety in subways. The order registered for the Singapore subway In order to continue developing and is a fine illustration of our original constantly increase our productivity Philippe SOULIÉ positioning as specialist in heavy duty over the next few years, our aim Chairman of the Management Board escalators and lifts. is to set up a global organisation in the medium term, so that we can follow The Energy sector, specialising in our customers, and thus our markets, tertiary and industrial boilers, where as closely as possible. This organisation the competition is particularly fierce, needs to be decentralised and adaptable, has succeeded in stepping up its level giving our sectors of activity and of orders and boosting its activities subsidiaries the flexibility and reactivity through technical innovation and needed for our expansion. a broader service range. For example, Babcock Wanson has introduced an The progressive adaptation of our operating support system called the OAM structures to the size of this new set-up BW 720, which radically changes the will be all the more vital in that we need economic performance of boiler houses. not only to get through this current WorldReginfo - cfc675bd-acf1-4470-9e48-dbde71866e56 04-05 CNIM › ANNUAL REPORT 2008 Message from the Chairman of the Supervisory Board While we complain increasingly “Savoir-faire”: the know-how of the in France of the lack of mid-sized Americans. The control of techniques German type companies that succeed and production methods remains in global markets, we are amazed that an irreplaceable factor.
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