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2020 Universal Registration Document

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2020 Universal Registration Document Universal registration document Annual fi nancial report Tab le of co ntents 1 5 Presentation of the issuer Financial statements AFR 95 and information on the universal 5.1 Consolidated financial statements 96 registration document 3 5.2 Separate financial statements 146 1.1 Presentation of the issuer 4 1.2 Information about the Statutory Auditors 5 6 1.3 Information on the universal registration Non-fi nancial performance AFR 167 document 6 6.1 SMCP’s CSR approach 168 1.4 Person responsible for the universal 6.2 Business model 173 registration document AFR 8 6.3 SMCProduct: developing a desirable 1.5 Documents available to the public 8 and responsible offering 175 6.4 SMCPlanet: preserving our planet and its natural resources 179 2 The Group and its activities 11 6.5 SMCPeople: revealing the potential of our passionate entrepreneurs 182 2.1 History 12 6.6 Conclusion 190 2.2 Activities 13 6.7 Our methodology 190 2.3 The ready-to-wear market and accessories 26 6.8 Summary table of indicators 193 2.4 Group strengths and competitive advantages 28 6.9 Independent third-party report 200 2.5 Strategic focus 33 2.6 Organisational structure 36 2.7 Legislative and regulatory environment 39 7 Corporate governance 203 7.1 Organisation of governance 205 3 Risk factors and internal control AFR 45 7.2 Compensation and Benefits 224 7.3 Commitments with related parties 3.1 Risk Factors 46 and Agreements 245 3.2 Insurance and risk coverage 63 3.3 Internal control and risk management 64 3.4 Supervisory bodies 65 8 Share capital and shareholders 251 3.5 The risk management mechanism 65 8.1 Shareholders AFR 252 8.2 Dividends AFR 257 4 SMCP activity in 2020 8.3 General Meeting and voting rights 258 8.4 Elements likely to have an impact and outlook for 2021 AFR 67 in the event of a public offering AFR 259 8.5 Change of control AFR 262 4.1 Highlights 68 8.6 Information on the share capital AFR 262 4.2 Analysis of activity and consolidated results 69 4.3 Cash flow 78 4.4 Financial structure 82 4.5 Capital expenditure 86 Cross-reference tables 270 4.6 Subsequent events 88 Items contained in the annual financial report are flagged in the Table of Contents with the following icon AFR This is a translation into English of the (universal) registration document of the Company issued in French and it is available on the website of the Issuer. The universal registration document was filed with the Autorité des Marchés Financiers, the AMF, on April 30, 2021, in its capacity as the competent authority according to Regulation (EU) 2017/1129, without prior approval as allowed by Article 9 of the said regulation. The universal registration document may be used for an offering of securities to the public or admission of securities to trading on a regulated market if supplemented by a prospectus and where appropriate, a summary and all the amendments made to the universal registration document. The resulting document package is then approved by the AMF in accordance with Regulation (EU) 2017/1129. Copies of this Universal registration document are available at no cost from the SMCP, 49, rue Etienne Marcel, 75001 Paris, France. It can also be downloaded from the SMsCP website (www.smcp.com) or from the AMF website (wwwHYPERLINK "http://www.amf-france.org" .amf-france.org). www.smcp.com Building on a strong entrepreneurial and family heritage, our Group has developed over time, driven by a search for desirability in its Brands and collections, and excellence in its quality of service. Almost 6,000 passionate entrepreneurs are driving our ambition, unique positioning in accessible luxury and desirable brands and our unique business model. In October 2020 we presented our strategic plan for the coming years, based on a new roadmap, adapted to the new world and new consumer trends. SMCP opens a new chapter of its history, DANIEL LALOND E with Global, Responsible and Phy-Gital Brands. CEO SMCP SA Our business model aims to be more robust, agile, fast and efficient. To support this ambition we have developed a CSR Strate which is based on three pillars: SMCProduct, SMCPlanet & SMCPeople, allowing us to fully integrate this dimension at the heart of our actions. Around these strong, structural values, ethics is at the heart of our activities, firmly anchored in our roots and our DNA. We are passionate entrepreneurs committed to writing the book that others will read one day. Universal registration document 2020 SMCP 1 2 Universal registration document 2020 SMCP www.smcp.com 1 Presentation of the issuer and information on the universal registration document 1.1 Presentation of the issuer 4 1.4 Person responsible for the universal registration document 8 1.4.1 Person responsible 8 1.2 Information about the Statutory 1.4.2 Statement by the person responsible 8 Auditors 5 1.5 Documents available to the public 8 1.3 Information on the universal registration document 6 Universal registration document 2020 SMCP 3 1 Presentation of the issuer and information on the universal registration document PRESENTATION OF THE ISSUER 1.1 Presentation of the issuer Company name: SMCP SA In general, the Company is authorized to perform any commercial, industrial or financial transactions that may be directly or indirectly Company purpose: associated with the foregoing purpose, in full or in part, or with any The Company’s purpose, both in France and abroad, comprises the related or complementary activities or any activities that may contribute following: to its expansion or development. • the purchase, subscription, holding, management, transfer or Place and registration: Paris trade and companies register, number 819 contribution of shares or other securities in any French and foreign 816 943. companies and undertakings; Legal entity identifier (LEI): 96950034TTGHHKKEN547 any provision of services and advice concerning human resources, • Share capital: €83,267,404 IT, management, financial communication, law, marketing and purchasing for its subsidiaries and direct or indirect interests; Date of constitution and duration: April 20, 2016, for a duration of 99 years, except in the event of early dissolution or extension on the the holding, management and disposal of trademarks and patents; • collective decision of shareholders in accordance with the law and • the activities of a group financing company and, as such, the supply statutes. of any type of financial assistance for companies forming part of Date of commencement of the financial year: January 1 the group of companies to which the Company belongs, particularly any transactions authorized under Article L. 511-7 3 of the French Registered office: 49, rue Étienne-Marcel, 75001 Paris, France, Tel. Monetary and Financial Code; +33 1 55 80 51 00. • the granting of any bonds or guarantees to the benefit of any company Website: www.smcp.com in its group or within the scope of the normal business activities of Legal form and applicable law: French law limited company (société any companies in its group; anonyme). • and, in general, any transactions, whether financial, commercial, industrial or civil or related to immovable or movable property that may be associated directly or indirectly with the foregoing company purpose and any similar or related purposes, and of such a nature as to directly or indirectly encourage the Company’s aim and its expansion, development and assets. 4 Universal registration document 2020 SMCP www.smcp.com Presentation of the issuer and information on the universal registration document INFORMATION ABOUT THE STATUTORY AUDITORS 1.2 Information about the Statutory Auditors 1 Statutory Auditors KPMG SA Deloitte & Associés 2, avenue Gambetta 6, place de la Pyramide 92066 Paris La Défense, France 92908 Paris-la-Défense Represented by Valéry Foussé Represented by Albert Aidan KPMG SA was appointed on April 19, 2016 in the Articles of Association of The Shareholders’ Meeting of the Company held on September 25, 2017 the Company for a term of six fiscal years ending after the Shareholders’ appointed the firm of Deloitte & Associés as co-Statutory Auditor of Meeting to be held to approve the accounts for the fiscal year ending the Company for a term of six years, until the end of the Shareholders’ on December 31, 2021. Meeting called to approve the financial statements for the year ending December 31, 2022. KPMG SA is a member of the Compagnie Régionale des Commissaires aux Comptes de Versailles (Regional Company of Auditors of Versailles). Deloitte & Associés is a member of the Compagnie Régionale des Commissaires aux Comptes de Versailles (Regional Company of Auditors of Versailles). Alternative Statutory Auditors Salustro Reydel BEAS 2, avenue Gambetta Tour Majunga, 6, place de la Pyramide 92066 Paris La Défense, France 92908 Paris-la-Défense Represented by Isabelle Goalec Represented by Joel Assayah Salustro Reydel was appointed on April 19, 2016 in the Articles of The Shareholders’ Meeting of the Company held on September 25, 2017 Association of the Company for a term of six fiscal years ending after appointed the firm of BEAS as co-alternate auditor of the Company for the Shareholders’ Meeting to be held to approve the accounts for the a term of six years, until the end of the Shareholders’ Meeting called to fiscal year ending on December 31, 2021. approve the financial statements for the year ending December 31, 2022. Salustro Reydel is a member of the Compagnie Régionale des BEAS is a member of the Compagnie Régionale des Commissaires aux Commissaires aux Comptes de Versailles (Regional Company of Auditors Comptes de Versailles (Regional Company of Auditors of Versailles). of Versailles). Universal registration document 2020 SMCP 5 1 Presentation of the issuer and information on the universal registration document INFORMATION ON THE UNIVERSAL REGISTRATION DOCUMENT 1.3 Information on the universal registration document Unless otherwise stated, the amounts are expressed in millions of euros The financial information presented is taken from Chapter 4 “Activities and rounded off to the closest million.
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