Registration Document Including the Financial Report PROFILE
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2012 REGISTRATION DOCUMENT INCLUDING THE FINANCIAL REPORT PROFILE ALTEN, the technology partner of choice ALTEN, the European leader in Engineering and Technology Consulting, provides support for its clients’ development 1,198 strategies in the fields of innovation, R&D and IT systems. MILLION REVENUE Its 14,100 top engineers carry out studies and conception projects for the Technical and Information Systems divisions of large corporate clients in the industrial, telecommunications and services sectors. In a fast globalising world, ALTEN integrates with the R&D strategy of its clients to support performance and partner them in breaking into new markets. ALTEN is active in 16 countries, covers the whole development cycle and offers a choice of service levels, from technology consulting to full-blown project outsourcing. It is the technology partner of choice for Europe’s leading companies. This document and the corresponding financial report constitute the ALTEN Registration Document for the 2012 financial year. It was submitted to the Autorité des Marchés Financiers (the French Financial Market Authority, or AMF) on 26 April 2013 in accordance with Article 212-13 Le présent document ainsi que le rapport financier qui l’accompagne constituent le document de référence ALTEN sur l’exercice 2012. Celui-ci a été déposé of the Autorité des Marchés Financiers’ general regulations. auprès de l’Autorité des Marchés Financiers le 26 avril 2013, conformément à l’article 212-13 du règlement général de l’Autorité des Marchés Financiers. Il pourra This Registration Document may be used in connection with a financial transaction if it is accompanied by a prospectus approved by the Autorité des Marchés être utilisé à l’appui d’une opération financière s’il est complété par une note d’opération visée par l’Autorité des Marchés Financiers. Par ailleurs, en application Financiers. Furthermore, pursuant to Article 28 of European Regulation No. 809, 2004, the following information is included in this Registration Document: de l’article 28 du règlement européen 809/2004, les éléments suivants sont inclus par référence dans le présent document de référence : • The separate and consolidated financial statements as of 31 December 2011, along with the relevant reports prepared by the Statutory Auditors and presented • Les comptes sociaux et consolidés au 31 décembre 2011, ainsi que les rapports de nos Commissaires aux comptes y afférents, présentés de la page 173 à 239 du document on pages 173 to 239 of Registration Document No. D.12,0454 filed with the Autorité des Marchés Financiers on 27 April 2012. de référence n° D. 12-0454 déposé auprès de l’Autorité des marchés financiers le 27 avril 2012 ; • The separate and consolidated financial statements as of 31 December 2010, along with the relevant reports prepared by the Statutory Auditors and presented • Les comptes sociaux et consolidés au 31 décembre 2010, ainsi que les rapports de nos Commissaires aux comptes y afférents, présentés de la page 167 à 238 du document on pages 167 to 238 of Registration Document No. D.11,0420 filed with the Autorité des Marchés Financiers on 29 April 2011. de référence n° D. 11-0420 déposé auprès de l’Autorité des marchés financiers le 29 avril 2011. It was prepared by the issuer under the responsibility of the signatories. Il a été établi par l’émetteur et engage la responsabilité de ses signataires. CONTENTS INTERVIEW 02 WITH THE CHAIRMAN ALTEN GROUP: 03 GOVERNANCE 06 KEY FIGURES 2012 ALTEN 08 IN THE WORLD ALTEN, 12 TECHNOLOGY PARTNER 14 Growth of global R&D 15 Market trends 16 ALTEN’s 2 businesses 17 Positioning 18 The services 20 Consulting services and Workpackage services 22 BUSINESS SECTORS 24 Land transport 26 Aerospace and defence OPERATIONAL 28 Energy and life sciences EXCELLENCE 30 Telecoms and multimedia 34 32 Finance and tertiary 36 Talent and organisation 39 R&D and innovation A RESPONSIBLE 42 COMPANY 44 Map of Stakeholders 46 Sustainable Development Charter 47 Responsible Purchasing Charter 48 Code of Ethics 50 Developing skills 54 Revealing talent 58 Innovating with its partners 62 Protecting the environment 66 Our performance indicators 1 ALTEN GROUP Interview with Simon Azoulay Chairman and Chief Executive Officer BY THE BEGINNING OF 2017 WE SHOULD HAVE 20,000 EMPLOYEES, BE DOING MORE THAN HALF OF OUR BUSINESS ABROAD. How do you rate Where does ALTEN stand in its market? ALTEN’s performance in 2012? ALTEN has reaffirmed its position as a leader in France and interna- In volume terms, the first half of the year was very positive, despite tionally. We are developing strongly in all our target countries. We are the cautious noises we were hearing from many clients at the end staying faithful to the initial choices that made us successful, both of 2011 as the financial markets stagnated. The reality of the long business positioning – we are a company of engineers – and level of crisis in Europe caught up with us in the second half. Some clients intervention – we are firmly rooted in studies and conception. This had no visibility in their markets or on their future investment consistent approach has allowed us to hit our targets for profitable budgets. growth year after year. At end-2009, we set ourselves a target of having 16,000 employees by end-2014. We are already there. We In this tricky environment, ALTEN still managed to end the year are ahead of our road map and confident about the future. with organic growth of 8.7% and has consolidated its status as a major player in the European Engineering and Technology What is the outlook for 2013? Consulting market. Growth was stronger internationally, where We are still achieving a good occupation rate for our consultants. there are still many regions to conquer, than in France, which is a As long as we continue to get this right we will continue to grow more mature market when it comes to outsourcing practices and organically, as we start 2013 with a bigger operational workforce where we have already built a strong position. than in 2012. As for profitability, the key to any company’s profits is the quality What is your long-term vision for ALTEN? of its management and its organisation. There is currently a ALTEN is already a European leader. Now it must become a global 10-point disparity in the margins being made by different players leader in its field. Our capacity to manage major transnational proj- in the industry. ALten’s profitability has held up robustly ects can open the way to achieving critical mass – which we esti- throughout. Profitability remained in double digits in 2012, thanks mate at 1,500 people – in the countries we are interested in, in to our rapid international development into higher-margin regions. Western Europe, Asia and then the Americas. This global performance is all the more impressive as it was By the beginning of 2017 we should have 20,000 employees, be achieved just as we are accelerating the transformation of our doing more than half our business abroad and have a significant offer, moving towards a greater level of commitment and investing presence outside Europe. More generally, I am firmly convinced that heavily in a dedicated technical management organisation for engineering is a way for every country to remain internationally structured projects. After three years under construction, in 2012 competitive and perhaps even save part of its industry. It seems that this organisation reached a phase of maturity and continuous governments have realised this. This means ALTEN is now better improvement. positioned than ever. 2 ALTEN Activity report 2012 ALTEN GROUP: GOVERNANCE Board of Directors COMPOSITION Mr Simon Azoulay, a French national, was born on OF THE BOARD OF DIRECTORS 29 May 1956 in Rabat (Morocco). He is a graduate article 16 of the company’s Articles of Association of SUPELEC. At 31 December 2012, he held provides that the Board of Directors is composed 8,784,195 shares in his own name and via SGTI of no fewer than three (3) and no more than and SGTI 2, of which he controls 100%, a total eighteen (18) members. of 27.09% of the company’s capital. The appointment of each director is the subject Mr Gérald Attia, a French national, was born on of a separate resolution in accordance with the ninth 6 April 1962 in Livry-Gargan (93) and holds an MBA Recommendation of the Reference Code. from Hartford. At 31 December 2012, he held in his own name, 138,477 ALTEN shares or 0.43% The Board of Directors of the company’s capital. is composed of: Mr Simon Azoulay, Ms Catherine Behar, a French national, born who also serves as Chairman 18 November 1958 in Paris (14th arrondissement) and Chief Executive Officer; does not hold any shares in the Company as at 31 December 2012. Ms Catherine Behar; Mr Gérald Attia, Mr Bruno Benoliel, a French national, born who also serves as Deputy 13 May 1964 in Paris (17th arrondissement) holds Chief Executive Officer; as at 31 December 2012 52,800 ALTEN shares, i.e. 0.16% of the company’s capital. Mr Bruno Benoliel, who also serves as Deputy Ms Emily Luna, a French national, born Chief Executive Officer; 20 July 1948 in Rabat (Morocco), holds as Ms Emily Luna. at 31 December 2012, 4,330 ALTEN shares, i.e. 0.01% of the company’s capital. 3 ALTEN GROUP: GOVERNANCE General Management Olivier Granger, Pierre Marcel, Simon Azoulay, Gérald Attia, Bruno Benoliel, Chief Operating Officer Deputy Chief Executive Officer Chairman and Chief Deputy Chief Executive Officer Deputy Chief Executive Officer Responsible Responsible for ALTEN Executive Officer