PowerPoint Template - Landscape - Accueil - Bolloré€¢ India, Haiti, Timor-Leste…...

1

2015 RESULTS MARCH 24, 2016

2

2015 RESULTS

Modifiez les styles du texte du masque





3

GROUPE BOLLORÉ 2015 RESULTS

(1) Source: Datastream, monthly average stock market price as at March 21, 2016 (after the 100-for-1 split).

CHANGES IN SHARE PRICE(1) MARKET CAPITALIZATION as at March 17, 2016: €10.7 billion

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

1/1/2005 1/1/2006 1/1/2007 1/1/2008 1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016

Bolloré SBF 120 Indexé

Δ (%) 1 an 10 ans

Bolloré (27.6%) 160.1%

SBF 120 (10.1%) (5.0%)

2015 RESULTS KEY FIGURES

4

Group turnover: €10,824 million + 2% (- 2% at constant scope and exchange rates)

EBITDA: €1,114 million, + 9%

Operating income: €701million, + 8%

Group share of net income: €564 million, + 161%

Net Cash Flow from activities: €1,133 million, up by €350 million over 2014

Net debt: €4,281 million, (gearing 38%) | Market value of portfolio (12/31/2015): €4,977 million

Proposed dividend: €0.06 per share of which €0.02 already paid, payable in cash or in shares, identical to that paid for 2014

5

GROUPE BOLLORÉ GROUP STRUCTURE

(1) Directly by Sofibol and by its 99.5% subsidiary Compagnie de Guénolé. Sofibol is controlled by Vincent Bolloré. (2) Companies in the Rivaud group, controlled by Bolloré. (3) Of which 0.5% by Imperial Mediterranean and SBA, Bolloré subsidiaries

ECONOMIC ORGANIZATIONAL CHART AS AT 12/31/2015 (in % of capital)

90.8% (1)

(2) Sofibol: 55.3%

Cie du Cambodge: 19.1% Financière Artois: 5.6%

Financière de Moncey: 4.9% Imperial Mediterranean: 3.6%

Nord Sumatra Investissements: 2.3%

Havas

Exchange offer with Havas finalized in February 2015, obtaining a majority shareholding in Havas company capital

March 2015 – Placement of 22.5% in the capital of Havas

‐ Holding in Havas established at 60%

‐ Income from placement: €590 million

OPERATIONS IN 2015

Vivendi

Holding in 2015 increased from 5.1% to 14.4%

Further investment made: ~ €3 billion

Market value of shareholding: €4 billion for 14.4% of the equity, of which 11.9% exposed to changes in the share price and 2.5% hedged (2-year maturity).

Arranged financing on securities: €2.5 billion

64.4(3)

TRANSPORT ET

LOGISTIQUECOMMUNICATION

STOCKAGE ELECTRICITÉ ET

SOLUTIONS

Bolloré Logistics Havas Blue Solutions

Bolloré Ports Médias, TélécomBlue Applications -

Terminaux et systèmes

spécialisés

Bolloré Railways Films Plastiques

LOGISTIQUE PÉTROLIÈRE

Bolloré Energie

AUTRES ACTIFS

Portefeuille de

participations

Bolloré

Financière de l'Odet

6

GROUPE BOLLORÉ 2015 RESULTS

(1)

(2)

(1) including income from operating companies accounted for via the equity method: €22 million vs €19 million (2) excluding treasury shares. (3) taking into account the impact from financing on Vivendi securities (4) restated amendment of the IAS 41 standard.

SUMMARY OF MAIN FINANCIAL ITEMS IN 2015

EBITDA up by 9% and OPERATING INCOME up by 8% thanks to good

performance by the Transportation & Logistics and Communications divisions.

FINANCIAL INCOME benefiting from

dividends received from Vivendi

Net debt up further to the increased

holding in Vivendi

(3)

en millions d'euros 2015 2014 (4) Variation

Chiffre d'affaires 10 824 10 604 2%

EBITDA 1 114 1 022 9%

Amortissements et provisions (413) (372) 11%

Résultat opérationnel 701 650 8%

Résultat financier 187 (85)

Part dans le résultat net des sociétés mises en

équivalence non-opérationnelles 104 65

Impôts (265) (236)

Résultat net des activités destinées à la vente - 7

Résultat Net 727 401 81%

Résultat Net Part du Groupe 564 217 161%

Minoritaires 163 185

Benéfice par action 0,20 0,09 128%

Cash Flow Opérationnel 1 133 783 350

Investissements industriels nets (771) (617) (154)

Investissements financiers nets (2 539) 18 (2 557)

Endettement net 4 281 1 771 2 509

Gearing 38% 18%

Valeur de marché du portefeuille de titres cotés 4 977 2 177 2 800

7

GROUPE BOLLORÉ TURNOVER BY BUSINESS SECTOR

CHANGES IN TURNOVER BY BUSINESS SECTOR

Main items of the 2015 fiscal year:

At constant scope and exchange rates, turnover fell by 2% for the 2015 fiscal year. These developments were the result of the 20% decline in Oil Logistics business subsequent to the drop in prices for petroleum products. They also factor in the good performance of the Transportation & Logistics (+ 4%), Communications (+ 5%), and Electricity Storage and Solutions (+ 9%) activities;

In unadjusted figures, currency fluctuations primarily affecting Transportation & Logistics and Communications, had a positive impact on Group turnover of €364 million.

en millions d'euros

2015 2014Croissance

publiée (%)

Croissance à

périmètre et

change

constants (%)

Transport & Logistique 6 051 5 629 7% 4%

Logistique Pétrolière 2 238 2 781 (20%) (20%)

Communication (Havas, Médias, Télécoms) 2 247 1 931 16% 5%

Stockage d'Electricité et Solutions 265 237 12% 9%

Autres (Actifs Agricoles, Holdings) 22 26 (13%) (14%)

Total Chiffre d'Affaires Groupe Bolloré 10 824 10 604 2% (2%)

8

GROUPE BOLLORÉ OPERATING INCOME BY BUSINESS SECTOR

CHANGES IN OPERATING INCOME BY BUSINESS SECTOR

Operating income increased by 8% on account of:

growth in net income from Transportation & Logistics, boosted by a strong performance from global freight forwarding and the expansion of the Port terminals in Africa (EBITDA for Transportation & Logistics up by 5%);

the upturn in oil logistics business thanks to the good performance reported by distribution in France and by logistics and depots;

growth in the communications sector owing to the increased income of Havas;

expenditure incurred in electricity storage (batteries, supercapacitors, electric vehicles, stationary power generation).

CHANGE IN OPERATING INCOME, BOLLORÉ TRANSPORTATION & LOGISTICS

195 219

277 316

366 400

442

535 580 593 606

-

100

200

300

400

500

600

700

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

(1) Restated amendment of the IAS 41 standard. (2) Before trademark fees.

en millions d'euros 2015 2014 (1) Variation (%)

Transport & Logistique 569 567 0,4%

Logistique Pétrolière 37 26 44%

Bolloré Transport & Logistics 606 593 2%% CA 7,3% 7,0% 27 bps

Communication (Havas, Médias, Télécoms) 255 210 21%% CA 11,3% 10,9% 43 bps

Stockage d'Electricté et Solutions (126) (120)

Autres (Actifs Agricoles, Holdings) (34) (33)

Total Résultat Opérationnel Groupe Bolloré 701 650 8%% CA 6,5% 6,1% 35 bps

(2)

(2)

9

GROUPE BOLLORÉ FINANCIAL AND EQUITY ACCOUNTED INCOME

CHANGE IN FINANCIAL INCOME

CHANGE IN INCOME FROM PARTNER COMPANIES

Financial income 2015

€187 million including €325 million in dividends received from Vivendi (vs. €44 million in 2014).

Equity Accounted Income 2015

A lower contribution from Groupe Socfin and strong growth in Mediobanca income.

(1) Restated amendment of the IAS 41 standard.

en millions d'euros 2015 2014 Variation (M€)

Dividendes et revenus nets de VMP 336 55 281

Coût net du financement (92) (95) 3

Autres charges et produits financiers (57) (45) (12)

Résultat Financier 187 (85) 272

en millions d'euros 2015 2014 (1) Variation (M€)

Part dans le résultat net des sociétés MEE non

opérationnelles 104 65 39

10

GROUPE BOLLORÉ CHANGES IN NET DEBT

CHANGES IN NET DEBT (€ MILLIONS)(1)

(1) Cash-flow after elimination of gains and before financial charges

(1)

en millions d'euros 2015 2014 Variation (M€)

Marge brute d'autofinancement 1 207 806 401

Variation du BFR (+ = réduction) (73) (23) (50)

Flux net de trésorerie de l'activité 1 133 783 350

Investissements industriels nets (771) (617) (154)

Investissements financiers nets (2 539) 18 (2 557)

Dividendes versés (254) (151) (103)

Frais financiers nets payés (86) (94) 8

Augmentation de capital, variation de juste valeur et autres éléments 8 83 (75)00

Variation de l'endettement (- = augmentation de l'endettement) (2 509) 23 (2 532)

11

GROUPE BOLLORÉ BALANCE SHEET - PORTFOLIO - LIQUIDITY

NET DEBT AND VALUE OF THE PORTFOLIO

(2)

(1) Gearing ratio = Net debt to shareholder equity. (2) Taking into account the impact from financing on Vivendi securities. (3) Excluding Havas (4) Restated amendment of the IAS 41 standard.

CHANGE IN GEARING RATIO (%)(1)

(3)

en millions d'euros 31-déc-15 31-déc-14 (4) Variation (M)

Capitaux propres 11 285 9 707 1 578

dont part du Groupe 9 947 8 051 1 896

Endettement net 4 281 1 771 2 509

Gearing (%) 37,9% 18,1%

Valeur boursière du portefeuille de titres cotés 4 977 2 177 2 800

Montant disponible non tiré ~1 800 ~1 600 200

12

GROUPE BOLLORÉ

DIVIDEND

CHANGE IN DIVIDENDS PAID(1)

(1) After the 100-for-1 split of January 1, 2016 (2) Proposed distribution submitted to the AGM of June 3, 2016.

Company income 2015

€100 million

Distributable amount

€2,078 million

General Meeting

June 3, 2016

Ex-dividend date

June 8, 2016

Payment

June 29, 2016

KEY DATES

(2)

Proposed dividend: €0.06

of which an installment of €0.02 already paid in 2015;

payable in cash or in shares;

maximum amount of €173 million.

13






BUSINESS REVIEW 2015

14

A LEADING OPERATOR IN PORT OPERATIONS

A MAJOR OPERATOR IN RAIL CONCESSIONS IN AFRICA

A MAJOR PLAYER IN OIL DISTRIBUTION AND LOGISTICS

IN FRANCE

BOLLORÉ TRANSPORTATION & LOGISTICS

BOLLORÉ TRANSPORT & LOGISTICS A NEW ORGANIZATION - FOUR BUSINESS UNITS TO PROVIDE A WORLD CLASS LOGISTICS OFFERING

The N° 1 operator for port concessions in Africa

• 17 port concessions

A port operator in France

95 shipping branch offices

36,000 employees in 102 countries

A recognized operator of rail concessions in Africa

A major investment program for existing concessions, for the new Benirail concession and for other rail projects in Africa

• Sitarail: Ivory Coast – Burkina Faso

• Camrail: Cameroon

• Benirail: Niger-Benin

A GLOBAL PLAYER IN TRANSPORTATION &

LOGISTICS

One of the top 10 global freight forwarding groups

A global footprint in international transportation and value-added services

Business Lines: • Multimodal transportation; • Customs & Excise and

Regulatory Compliance; • Global Supply Chain; • Industrial Projects.

The leading distributor of household fuel oil in France

Strong presence in the oil logistics field in France and Europe

An operator of international port concessions

• India, Haiti, Timor-Leste…

TRANSPORTATION & LOGISTICS KEY FIGURES

15 (1) before trademark income.


FINANCIAL ITEMS IN 2015

(1)

EBITBA:up 5%

Good overall performance from the port business in Africa (particularly in Ivory Coast, Cameroon, Ghana, Nigeria and Guinea) and from the logistics business, especially in Europe and Asia;

Falling commodity prices affecting industrial projects for oil and mining customers in Africa and activity in countries that are particularly exposed to oil (Gabon, Congo, Angola, Mozambique, Nigeria).

Operating income, up 0,4%:

In view of the increased depreciation and amortization linked to a ramp-up of investment in Africa;

(1)

en millions d'euros 2015 2014 Variation (%)

CA Bolloré Logistics 3 363 3 073 9,4%

CA Bolloré Africa Logistics 2 688 2 556 5,2%

Total Chiffres d'Affaires Transport et Logistique 6 051 5 629 7,5%

EBITDA Transport et Logistique 767 730 5,1%

Résultat opérationnel Transport et Logistique 569 567 0,4%

Total Investissements Transport et Logistique 426 350 21,7%

16


BOLLORÉ LOGISTICS

2015 RESULTS

Turnover in 2015: up by 2.4% at constant scope and exchange rates, to €3,363 million

Thanks to increased volumes in the freight forwarding business on the Asia-America, America-Africa and Europe-America lines.

2015 results marked by:

continued growth in operating income in France supported by an upturn in business from our major customers in the fields of distribution, luxury products, healthcare and aeronautics;

stronger results in Europe, specifically in the United Kingdom, Germany and Spain;

better results from the Asia-Pacific zone, driven by the good performance of subsidiaries in China, in Japan and in Southern Asia (India, the Philippines and Singapore);

good performances in the Americas due notably to strong growth in the United States, Mexico and Canada helped by new logistics contracts.

Continued development of our network

Branch offices opened in: Saudi Arabia, Qatar, Austria.

BOLLORÉ AFRICA LOGISTICS

17


Corridors Outlets Port concessions

2015 RESULTS

Bolloré Africa Logistics produced good results despite a business environment hit by a slump in commodity prices.

Turnover in 2015: up by 5.9% at constant scope and exchange rates to €2,688 million

Growth in volumes handled at container terminals despite the announced slow-down in mining and oil business in certain African countries (Nigeria, Gabon, Congo, Mozambique and Angola).

2015 results marked by:

good performances from our port activities, particularly at the DIT terminals in Cameroon, TICT in Nigeria, MPS in Ghana, Dakar Terminal in Senegal, Conakry Terminal in Guinea and Freetown Terminal in Sierra Leone, where the volumes handled have increased;

the impact of the falloff in mining and oil business on the logistics activity in some countries (Congo, Gabon, Mozambique, Angola and Nigeria);

growth in transportation & logistics business in Tanzania, Uganda and South Africa.

Continued development of our network

The winning of the port terminal concession at Kribi in Cameroon and in East Timor and Haiti;

A 25% financial holding in the terminal at Monrovia, Liberia.

BOLLORÉ AFRICA LOGISTICS

18


THREE RAIL CONCESSIONS 2015 RESULTS

An investment program in rail concessions

Benin and Niger: rehabilitation of the Cotonou – Parakou section. Completion of the Niamey-Dosso rail link (140 km) with a view to connecting West African rail concessions within a loop linking Lomé, Cotonou, Niamey, Ouagadougou and Abidjan (2,740 Gs);

Ivory Coast and Burkina Faso: Rehabilitation of 1,260 km of track linking Abidjan (Ivory Coast) to Kaya (Burkina Faso). The objective is to provide a facility geared to the expected growth of mining traffic exported through the port of Abidjan;

Study of rail links from Cotonou to Lomé in the west and to Nigeria in the east;

Developments in Cameroon and in Guinea (rehabilitation of a track designed to unclog the city of Conakry toward the inland container depots of Kagbelen managed by the Group).

Developments occurring in 2015

Signing of the Benirail concession on August 13, 2015;

Delayed commissioning owing to a legal dispute between the State of Benin and one of its constituents.

BOLLORÉ ÉNERGIE

19



A 20% fall in turnover in a context of strongly declining oil prices

A sharp rise in operating income: up by 44%

a good performance from the distribution sector in France (margins have held up well, tight management of charges, a less negative inventory effect than in 2014);

high levels of activity reported by logistics, transportation and depots;

a good performance from Calpam in Germany and CICA in Switzerland.

The acquisition of the depot facilities of Petroplus' former Petit-Couronne refinery in late 2015

will help to consolidate the distribution business of Bolloré Energie in the area and provide storage for strategic stocks;

a site boasting an exceptional location close to consumer catchments (capital and airports) with a pipeline connection between Le Havre and Paris.

Branch offices and depots

LCN (Branch offices and storage)

SFDM pipeline


Chiffre d'Affaires 2 238 2 781 (19,5%)

Résultat opérationnel 37 26 44,0%

Marge opérationnelle (%) 1,7% 0,9% 73 bps

Investissements 22 10 115,5%

20

COMMUNICATION

COMMUNICATION


Operating income in 2015 was boosted by a good performance from Havas

Good growth momentum over all geographic areas;

Further growth in returns, up by 30 basis points to 13.4%;

A sound and solid financial structure.


Chiffre d'affaires 2 247 1 931 16,4%



Investissements 57 62 (7,3%)(1)

(1) Excluding financial investments made by Havas: €81 million in 2015

21

HAVAS

COMMUNICATION

FINANCIAL ITEMS IN 2015 PUBLISHED BY HAVAS

The Bolloré Group holds a 60% share in Havas, (which was already fully consolidated)

2015 results: another record year

Organic growth in turnover: up by 5.1% (+ 17.3% unadjusted);

Operating income: up by 20%, a further improvement in operating margin of 30 basis points;

Group share of net income: up by 23% to €172 million;

High level of net new business: €1,668 million;

Acquisitions: €81 million versus €34 million in 2014;

Net cash: €88 million versus €43 million as at end 2014.

en millions d'euros 2015 2014 Variation

Chiffre d'Affaires 2 188 1 865 17,3%dont croissance organique 5,1%



Résultat net 191 157 21,7%

Résultat net part du Groupe 172 140

Capitaux propres 1 653 1 460 193

Dette nette (88) (42) (46)

22

MEDIA & TELECOMS

DIRECT MATIN – The N°1 French daily in terms of circulation

Average circulation of nearly 900,000 copies(1) with 2.6 million readers per issue;

Digital edition, Directmatin.fr: 1.8 million visitors (825,000 in 2014) for 8 million pages viewed monthly(2).

(1) Source: OJD. (2) Source: Google Analytics December 2015.

COMMUNICATION

TELECOMS

WiMax:

22 regional licenses providing nationwide coverage;

Launch of network roll-out in 2015 reaching 1,630 stations (1,100 as at end December 2015);

Accumulated expenditures at this stage: more €140 million including licenses.

Wifirst:

Sales of a high-speed wireless Internet service, particularly in student residences and hotel resorts;

Turnover: €20 million, up by 26% over 2014;

The facility has grown quickly with 364,000 rooms/locations now equipped (vs. 300,000 in 2014);

A new contract was signed with La Poste group to equip 5,000 branch offices.

2015 RESULTS

ELECTRICITY STORAGE & SOLUTIONS

23

BLUE SOLUTIONS, BLUE APPLICATIONS, PLASTIC FILMS


(1)

(1) Excluding turnover from Blue Solutions with Group entities, eliminated in the Bolloré financial statements.


Turnover at constant scope and exchange rates: €265 million, up 9.1%

Turnover by Blue Solutions with Blue Applications entities in 2015 was €120 million (versus €95 million in 2014). This figure is eliminated at the Bolloré group level.

Continued growth in investments

Total amount invested: €250 million (€183 million in 2014) thanks to the growth in car-sharing and to developments in the bus business and stationary applications.


Chiffre d'Affaires 265 237 12%

dont croissance organique 9%

Résultat opérationnel (126) (120) NA

Investissements 250 183 45%


24

BLUE SOLUTIONS

(1) Bluecar-Bluecarsharing-Autolib’, Bluebus, Bluetram, Blueboat, Bluestorage, IER, Polyconseil.

FINANCIAL ITEMS IN 2015 PUBLISHED BY BLUE SOLUTIONS

Continued growth in battery deliveries and improvement of the profitability

2,930 battery packs equivalent to 30 kWh delivered in 2015 (2,396 packs in 2014);

turnover of €122 million, up by 25%.

Options exercisable by Blue Solutions on entities within the Blue Applications perimeter(1):

September 2016 to June 2018.



Chiffre d'Affaires 122 97 25%

EBITDA 22 10 115%

Résultat opérationnel 3 (6)

Marge opérationnelle (%) 2,6% (6,2%)

Résultat financier (3) 0

Résultat net 0 (6)

Résultat net part du Groupe 0 (6)

Outlook

completion as expected of seven car-sharing projects by the end of 2017.

improvement in the quality of batteries, both in terms of their life cycle and their density (greater kWh content), allowing Blue Solutions to target, subject to the development of 12-meter buses and ongoing projects with Citroën (including E-Mehari), annual sales of 3,000 to 4,000 batteries by 2017, and 5,000 to 6,000 batteries by 2018/2019.

SHARE PRICE CHANGES SINCE THE IPO (Oct. 30, 2013 at €14.50)

71%

18%

11%

Bolloré Bolloré Part. Public

SHAREHOLDING

BLUE APPLICATIONS - Mobility

25

ACHIEVEMENTS IN 2015

Car-sharing (1)

A fleet of 4,300 electric vehicles | of which 3,540 Autolib’ cars;

1,300 stations fitted with 7,000 charging terminals | of which 1,100 stations and 6,000 terminals for Autolib’;

106,000 active annual premium subscribers (versus 71,000 at the end of 2014, i.e. up by 49%);

5.3 million annual rentals;

Inauguration of the car-sharing service in London in June 2015;

Introduction of the car-sharing service in Turin, March 18, 2016.

(1) Autolib’ Paris, Bluely Lyon, Bluecub Bordeaux, BlueIndy Indianapolis started up September 25, 2015.

Bluebus

Unveiling of the 12-meter bus selected by RATP (city transit) for line N° 365 in Paris starting in 2016;

Development of the production and sale of 6-meter Bluebuses: 44 buses versus 17 in 2014 | deliveries in Amiens, Reims and Mulhouse;

Inauguration of the new Bluebus plant in January 2016 | Output capacity of 200 Bluebuses p.a.

Bluetram

Presented in Paris at COP 21;

Inauguration of the new Bluetram plant in January 2015;

Sums invested: €10 million | capacity of 100 Bluetrams p.a., upgraded to 200 Bluetram.

Bluecar - Bluesummer

Partneships with Renault for the production of Bluecars and with the PSA-Peugeot-Citroën group to develop the Bluesummer/E-Mehari.


BLUE APPLICATIONS - Stationary applications, IER, Polyconseil and Plastic Films

26

ACHIEVEMENTS IN 2015

Stationary applications Bluestorage: electricity storage solutions, LMP batteries in containers to optimize energy consumption and

offset the intermittent supply of renewable energies. Partnership with Total-Sunpower by way of a Bluesun joint venture for the supply of latest generation solar panels.

Bluezone: A ground-breaking solution for the African continent: Bluezones, with LMP batteries and photovoltaic panels, are able to produce, store and distribute clean and free electricity. The Group now has 10 Bluezones (Benin, Guinea, Niger, Togo).

Development of a totally self-sufficient energy solution (a station connecting LMP batteries to solar panels) making it possible to recharge electric vehicles (Bluebus, Bluecar and Bluesummer) in Abidjan, at the Angkor site in Cambodia, and in Fort-de-France.

A Load-Shedding and Grid-Balancing Operator. Bids entered in response to State tenders for solar power plants. Set-up of a showroom in Santa Monica.

IER: A major player in the sale of car-sharing solutions and smart connected recharging technology (creation of terminals for Autolib, Bluely, Bluecub, BlueIndy and London, together with onboard software for Bluecar vehicles). Clear growth in sales of printers and terminals for the air and rail sectors and for La Poste, plus logistics tracking systems (Carrefour). Significant growth in business for Automatic Systems in the field of access control equipping subway networks, stations, highways, head offices, amusement parks, etc.

Polyconseil, which delivers IT services and consulting and designs software, also plays an important role in car-sharing systems and electricity storage management.

Plastic films: Plastic Films activity was sustained by a rise in sales of dielectric and packaging films in 2015. Strong improvement in operating income.


OTHER ASSETS (1/3)

27

(1) Taking into account financing on Vivendi securities.

(2) Equity accounted.

(3) of which 0.02% held by Financière de l'Odet.

MARKET VALUE OF THE LISTED SHARE PORTFOLIO: €4,977 MILLION(Dec. 31, 2015)

Vivendi (14.4%):

Holding increased from 5.1% to 14.4% during 2015, of which 2.5% is hedged;

Market value of shareholding at 12/31/2015: €4,041 million (1).

Socfin

Socfin(2) (38.7%) - Socfinasia(2) (21.8%) - Socfinaf(2) (8.6%);

Market value of shareholding: €231 million.

Miscellaneous

Gaumont (9.6%), market value of shareholding: €22 million;

Vallourec (1.5%), market value of shareholding: €18 million;

Big Ben Interactive (21.4%), market value of shareholding: €14 million .

Mediobanca(2) (7.9%) - Generali (0.13%) and Unipolsaï (0.04%)(3)

Market value of shareholdings: €649 million;

Main equity holding: Mediobanca, in which the Group is the second largest shareholder and has three representatives on the Board of Directors;

The Group's shareholding rose from 7.46% to 7.9% in 2015, then to 8,0% in March 2016.

OTHER ASSETS

OTHER ASSETS (2/3)

28

(1) Company data before restatement under IFRS. Socfin group plantations are accounted for under the equity method in the Bolloré financial statements.

(2) Not consolidated.

GROUPE SOCFIN AND OTHER AGRICULTURAL ASSETS

Groupe Socfin(1)

the Group holds nearly 38,.% of Socfin, which manages 187,000 hectares (461,890 acres) of plantations in Asia and Africa. Net income was generally held back by a drop in the average price of rubber (down by 20%) and palm oil (down by 24 %) compared to the 2014 fiscal year.

OTHER ASSETS

Surfaces plantées Résultat net (en mill ions d'euros)

(hectares) 2015 2014 Variation (%)

Socfindo Indonésie 48 000 42,6 55,4 (23%) Baisse des cours de l'huile de palme et du caoutchouc

Okomu Nigéria 18 500 13,5 7,4 82% Hausse de la production d'huile de palme de 12%, soutien du prix de

vente de l'huile de palme

Socaplam Cameroun 35 100 Hausse de la production d'huile de palme et soutien des cours

Ferme Suisse Suisse Unité de raffinage

Safa Cameroun Cameroun 9 800 2,8 2,8 2% Baisse des cours, compensée par la hausse de la production

Lac Nigéria 13 800 (5,1) (0,3) na Net recul de la production et baisse des cours du caoutchouc

Brabanta Congo 6 200 (7,1) - - 1ère année de production, quantités produites encourageantes

mais retard des ventes

SOGB Côte d'Ivoire 23 400 9,1 7,0 30% Bonnes performances du caoutchouc et niveau élévé de production

ont compensé la baisse des cours des matières premières

Société Pays Commentaires sur les résultats

9,9 9,0 10%

OTHER ASSETS (3/3)

29

OTHER ASSETS

GROUPE SOCFIN AND OTHER AGRICULTURAL ASSETS

Other agricultural assets

American farms: the three farms cover 3,000 hectares. Management is assigned to Groupe Socfin.

‐ Production: primarily soya and cotton,

‐ EBITDA: €0.1 million versus -€0.6 million in 2014,

‐ An investment project (€30 USD) to convert the farms into olive groves over a two-year period;

Vineyards: “La Croix” and “La Bastide Blanche” estates cover 242 hectares including 116 hectares with wine-farming rights Increased turnover to €3.9 million (up by 12%) with volume sales increased 5% (610,000 bottles). The EBITDA of this business is now positive.

30






APPENDIX

31

BALANCE SHEET 2015 FINANCIAL RESULTS

en millions d'euros 31-déc-15 31-déc-14(1)

Actif

Goodwill 2 964,9 2 798,2Immobilisations incorporelles 1 233,9 1 080,1Immobilisations corporelles 2 151,2 1 834,8Titres mis en équivalence 891,6 729,8Autres actifs financiers non courants 9 161,0 5 969,6Impôts différés 238,5 202,2Autres actifs non courants 185,4 143,6Actifs non courants 16 826,5 12 758,3Stocks et en-cours 340,4 278,4Clients et autres débiteurs 4 666,7 4 349,9Impôts courants 75,5 68,1Autres actifs financiers courants 54,2 15,7Autres actifs courants 93,5 86,8Trésorerie et équivalents de trésorerie 1 543,2 1 379,1Actifs destinés à être cédés - ,0Actifs courants 6 773,5 6 178,0Total Actif 23 600,0 18 936,3

en millions d'euros 31-déc-15 31-déc-14(1)

Passif

Capital 463,2 439,7Primes liées au capital 1 163,6 549,3Réserves consolidées 8 320,1 7 062,3Capitaux propres, part du Groupe 9 946,9 8 051,3Intérêts minoritaires 1 337,8 1 656,0Capitaux propres 11 284,7 9 707,3

Dettes financières non courantes 4 245,4 1 623,2Provisions pour avantages au personnel 266,0 254,6Autres provisions non courantes 176,4 181,6Impôts différés 255,8 231,4Autres passifs non courants 185,7 136,1Passifs non courants 5 129,3 2 426,9Dettes financières courantes 1 581,7 1 533,9Provisions courantes 99,4 85,3Fournisseurs et autres créditeurs 5 227,4 4 835,1Impôts courants 124,2 118,9Autres passifs courants 153,3 228,9Passifs destinés à être cédés ,0 ,0Passifs courants 7 186,0 6 802,1Total Passif 23 600,0 18 936,3(1) Retraité Amendement IAS41

32

CONSOLIDATED INCOME STATEMENT 2015 FINANCIAL RESULTS

en millions d'euros 2015 2014(1)

Chiffre d'affaires 10 824,0 10 603,7

Achats et charges externes (7 155,6) (7 286,0)

Frais de personnel (2 645,7) (2 359,1)

Amortissements et provisions (413,1) (372,2)

Autres produits opérationnels 265,3 219,5

Autres charges opérationnelles (195,6) (175,3)

Part dans le résultat net des sociétés mises en équivalence opérationnelles 21,7 19,3

Résultat opérationnel 701,0 649,9

Coût net du financement (91,7) (94,5)

Autres produits financiers 673,2 203,1

Autres charges financières (394,1) (193,2)

Résultat financier 187,4 (84,6)

Part dans le résultat net des sociétés mises en équivalence non opérationnelles 103,6 65,1

Impôts sur les résultats (264,7) (235,7)

Résultat net des activités poursuivies 727,3 394,7

Résultat net des activités abandonnées 0,0 6,5

Résultat net consolidé 727,3 401,2

Résultat net consolidé, part du Groupe 564,2 216,5

Intérêts minoritaires 163,1 184,7

(1) Retraité Amendement IAS41

Résultat par action (1) (en euros) :

en millions d'euros 2015 2014Résultat net part du Groupe :

- de base 0,20 0,09

- dilué 0,20 0,09

Résultat net part du Groupe des activités poursuivies :

- de base 0,20 0,09

- dilué 0,20 0,09

(1) Hors titres d'autocontrô le

33

CHANGE IN CONSOLIDATED CASH FLOW FINANCIAL RESULTS

en millions d'euros 2015 2014(1)

Flux de trésorerie liés à l'activité

Résultat net part du Groupe des activi tés poursuivies 564,2 210,7

Part des intérêts minori ta i res des activi tés poursuivies 163,1 184,0

Résultat net consolidé des activités poursuivies 727,3 394,7

Charges et produits sans effet sur la trésorerie :

- él imination des amortissements et provis ions 441,6 406,7

- él imination de la variation des impôts di fférés (5,7) (14,5)

- autres produits et charges sans incidence de trésorerie ou non l iés à l 'activi té (106,9) (95,4)

- él imination des plus ou moins-va lues de cess ion 4,5 (13,6)

Autres retra i tements :

- coût net du financement 91,7 94,5

- produits des dividendes reçus (406,4) (77,5)

- charges d'impôts sur les sociétés 258,9 238,7

Dividendes reçus :

- dividendes reçus des sociétés mises en équiva lence 33,4 40,3

- dividendes reçus des sociétés non consol idées et des activi tés abandonnées 406,4 78,8

Impôts sur les sociétés décaissés (238,3) (246,9)

Incidence de la variation du besoin en fonds de roulement : (73,3) (22,6)

- dont stocks et en-cours (51,6) 91,6

- dont dettes 308,3 122,5

- dont créances (330,0) (236,7)

Flux nets de trésorerie provenant des activités opérationnelles poursuivies 1 133,2 783,2

Flux d'investissement

Décaissements l iés à des acquis i tions :

- immobi l i sations corporel les (588,9) (475,4)

- immobi l i sations incorporel les (68,2) (71,7)

- immobi l i sations du domaine concédé (128,3) (92,2)

- ti tres et autres immobi l i sations financières (3 033,6) (94,5)Encaissements l iés à des cess ions : - immobi l i sations corporel les 9,4 19,2

- immobi l i sations incorporel les 0,0 0,2

- ti tres 8,6 25,5

- autres immobi l i sations financières 31,1 9,4

Incidence des variations de périmètre sur la trésorerie (139,4) (82,0)

Flux nets de trésorerie sur investissements des activités poursuivies (3 909,3) (761,5)

Flux de financement

Décaissements :

- dividendes versés aux actionnaires de la société mère (136,4) (43,2)

- dividendes versés aux minori ta i res nets des impôts de dis tribution (117,7) (107,4)

- remboursements des dettes financières (1 030,9) (918,8)

- acquis i tion d'intérêts minori ta i res et d'actions d'autocontrôle (33,3) (44,5)

Encaissements :

- augmentation de capita l 12,4 45,3

- subventions d'investissements 4,6 3,3

- augmentation des dettes financières 3 678,1 635,5

- cess ion aux minori ta i res et d'actions d'autocontrôle 630,9 211,40,0 0,0

Intérêts nets décaissés (86,5) (94,0)

Flux nets de trésorerie sur opérations de financement des activités poursuivies 2 921,2 (312,4)

Incidence des variations de cours des devises 22,0 41,4

Autres 0,0 0,1

Variation de la trésorerie des activités poursuivies 167,1 (249,2)

Trésorerie à l 'ouverture 1 200,1 1 449,3

Trésorerie à la clôture 1 367,2 1 200,1

(1) Retra i té Amendement IAS41

34

CHANGES IN SHAREHOLDERS’ EQUITY FINANCIAL RESULTS

(en millions d'euros)

Nombre

d'actions hors

autocontrôle

Capital Primes

Titres

d'auto-

contrôle

Juste

valeur

IAS 39

Réserves de

conversion

Pertes et

gains

actuariels

Réserves

Capitaux

propres part

du Groupe

Intérêts

minoritairesTOTAL

Capitaux propres au 01/01/2014 (1) 2 463 354 600 437,5 508,1 (184,9) 3 928,6 (94,6) (27,1) 3 096,8 7 664,5 1 564,0 9 228,5

Transactions avec les actionnaires 58 382 700 2,2 41,1 54,7 9,6 0,1 0,1 59,3 167,2 (81,1) 86,2

Augmentation de capital 13 950 700 2,2 41,1 (0,6) 42,8 0,0 42,8

Dividendes distribués (615 300) (77,6) (77,6) (92,6) (170,2)

Opérations sur titres auto-détenus 45 047 300 54,7 150,1 204,8 2,9 207,7

Paiements fondés sur des actions 4,4 4,4 1,8 6,2

Variations de périmètre 9,6 (0,7) 0,0 (5,5) 3,4 4,7 8,1

Autres variations 0,8 0,1 (11,5) (10,5) 2,1 (8,4)

Eléments du résultat global (18,1) 40,2 (18,9) 216,5 219,7 172,9 392,5

Résultat de l'exercice 216,5 216,5 184,6 401,1

Variation des éléments recyclables en résultat

Variation des réserves de conversion des entités contrôlées 30,0 30,0 (0,8) 29,2

Variation de juste valeur des instruments financiers des entités contrôlées (47,8) (47,8) (3,8) (51,6)

Autres variations du résultat global 29,6 10,2 39,8 1,8 41,6

Variation des éléments non recyclables en résultat

Pertes et gains actuariels des entités contrôlées (18,8) (18,8) (8,8) (27,6)

Pertes et gains actuariels des entités en équivalence (0,1) (0,1) (0,1) (0,2)

Capitaux propres au 31/12/2014 2 521 737 300 439,7 549,3 (130,2) 3 920,1 (54,2) (45,9) 3 372,6 8 051,3 1 655,8 9 707,2

Transactions avec les actionnaires 357 940 304 23,5 614,4 105,4 20,6 (0,5) (7,6) 163,2 919,0 (495,1) 423,9

Augmentation de capital 146 853 142 23,5 614,4 0,0 637,9 637,9

Dividendes distribués (171,8) (171,8) (100,6) (272,4)

Opérations sur titres auto-détenus 211 087 162 105,4 664,4 769,7 8,7 778,4

Paiements fondés sur des actions 5,7 5,7 2,7 8,3

Variations de périmètre 20,6 (2,3) (7,6) (336,4) (325,8) (405,9) (731,6)

Autres variations 1,9 1,4 3,3 0,0 3,3

Eléments du résultat global 411,8 4,2 (3,6) 564,2 976,6 176,9 1 153,5

Résultat de l'exercice 564,2 564,2 163,1 727,3

Variation des éléments recyclables en résultat

Variation des réserves de conversion des entités contrôlées (3,9) (3,9) (4,2) (8,1)

Variation de juste valeur des instruments financiers des entités contrôlées 411,5 411,5 19,3 430,9

Autres variations du résultat global 0,3 8,1 8,4 0,0 8,4

Variation des éléments non recyclables en résultat

Pertes et gains actuariels des entités contrôlées (2,5) (2,5) (1,5) (4,0)

Pertes et gains actuariels des entités en équivalence (1,1) (1,1) (0,0) (1,1)

Capitaux propres au 31/12/2015 2 879 677 604 463,2 1 163,6 (24,8) 4 352,5 (50,5) (57,2) 4 100,0 9 946,9 1 337,6 11 284,6

(1) Retraité de l'amendement IAS41

19,1 (0,0) Compagnie du Cambodge**

5,6 (0,0) Société Industrielle et Financière de l'Artois**

4,9 (0,0) Financière Moncey**

3,6 (0,0) Imperial Mediterranean **

2,3 (0,0) Nord-Sumatra Investissements **

0,4 (0,0) Imperial Mediterranean **

0,1 (0,0) Société Bordelaise Africaine**

10,0 (2)

22,8

61,8 64,2

4,1(3)

36,7

15,2

14,0 8,9

48,2

42,1

71,2

17,8(9)

11,5

56,5

55,5

5,0

58,8

6,0

6,8

13,0

Sofibol

63,8 (8)

(64,2)

55,3(7)

(92,0)


8,9

64,6 (4)

LOGISTIQUE PETROLIERE

100,0 (1)

Bolloré Railways

Nord-Sumatra Investissements

67,2(1)

La Forestière Équatoriale

(Côte d'Ivoire)

Plantations des Terres Rouges

(Luxembourg)

Compagnie du Cambodge

Financière Moncey

32,5

Havas

Bolloré

Socfinaf 1,8 (12)

1,9 (6)

16,7

29,2(1)

90,5(1)

9,3

17,5

Médias, télécoms

Bolloré Energie

31,5

3,3(11)

37,1(1)

7,3

Société Industrielle et

Financière de l'Artois

26,6

25,3 (1)

28,6

15,1

25,9

100,00

100,0(1)

100,0 (10)

37,0 (5)

12,0

Bolloré Logistics

StOCKAGE D'ÉLECTRICITÉ

ET SOLUTIONS

Bolloré Ports

TRANSPORT ET LOGISTIQUE

COMMUNICATION

100,0

Compagnie des Tramways de Rouen

4,3*

3,7*

1,1*

2,5*

9,2*

Films plastiques

Financière deSainte-Marine

35,7*

Compagnie de Pleuven

Socfin ex-Socfinal

(Luxembourg)

Socfinasia(Luxembourg)

Société Bordelaise Africaine

Imperial Mediterranean

Blue Solutions

Financière du Perguet

Compagnie deCornouaille

6,0*

11,0*

40,0*

Société des Chemins de Fer et Tramways duVar et du Gard

3,9*

Blue Applications

IER

GROUP STRUCTURE AS AT MARCH 6, 2016 (IN % OF CAPITAL)

35

19.1 (0.0) Compagnie du Cambodge**

5.6 (0.0) Société Industrielle et Financière de l'Artois**

4.9 (0.0) Financière Moncey**

3.6 (0.0) Imperial Mediterranean **

2.3 (0.0) Nord-Sumatra Investissements **


0.1 (0.0) Société Bordelaise Africaine**

10.0(2)

22.8

61.8 64.2

4.1(3)

36.7

15.2

8.9

48.2

42.1 64.6(4)

71.2 14.0

17.8(9)

11.5

56.5

55.5

5.0

58.8

27.0

6.8

13

By convention, shareholdings under 1% are not mentioned.

(1) Directly and indirectly by fully-owned subsidiaries

(2) Of which < 10.0% by Compagnie du Cambodge.

(3) 4,10% by SFA, a 98.4%rowned subsidiary of Plantations des Terres Rouges.

(4) 64.6% by its 53.4%-owned direct subsidiary Socfrance.

(5) 30.2% by Société Bordelaise Africaine and 6.8% by its 53.4%-owned direct subsidiary Socfrance.

(6) 1.9% by Plantations des Terres Rouges.

(7) Of which 5.3% by its 99.5%-owned direct subsidiary Compagnie de Guénolé.

(8) including 0.002% owned by Bolloré Participations

(9) including 17.8% by Bolloré Participations

(10) Indirectly, by a fully-owned subsidiary.

8.9

31.5

100.0

100.0(10)

Bolloré Railways

12.0

26.6

7.3

27.4

Bolloré Énergie

Oil logistics

100.00



37.0(5)

Bolloré Logistics

ELECTRICITY STORAGE AND

SOLUTIONS

Bolloré Ports

BOLLORÉ

TRANSPORTATION &

LOGISTICS

Blue Applications

IER

Media, telecoms

52.4

100.0(1)

Listed companies

47.6

15.1

COMMUNICATION

Shareholdings

Plantations

1,9(6)

28.6

Percentage of share capital outside the Group

Bolloré Transport & Logistics

Energy storage and industry

Controlled by Bolloré

Communication, media, advertising and telecoms

16.7

1.8(1)Socfinaf

**

9.3

% (%) % of capital (% of voting rights at General Meeting)

*

32.5

Havas

Bolloré

Plantations des Terres

Rouges

(Luxembourg)

64.0(8)

(64.4)

100.0 (1)

Nord-Sumatra

Investissements

67.2(1)

55.3(7)

(92.0)


Forestière Équatoriale

(Republic of Côte

d'Ivoire)

Financière Moncey

17.5

3.3

37.1(1)

Sofibol

25.3(1)

Compagnie du

Cambodge

29.2(1)

90.5(1)


Société des Chemins de Fer et Tramways du

Var et du Gard

4.3*

3.7*

1.1*

4.6*6.0*

2.5*

9.2*

Plastic films


35.4*


Socfin ex-Socfinal

(Luxembourg)




Blue Solutions



6.0* 3.9*

11.0*

17.5*

19.1 (0.0) Compagnie du Cambodge**

5.6 (0.0) Société Industrielle et Financière de l'Artois**

4.9 (0.0) Financière Moncey**


2.3 (0.0) Nord-Sumatra Investissements **


0.1 (0.0) Société Bordelaise Africaine**

10.0(2)

22.8

61.8 64.2

4.1(3)

36.7

15.2

8.9

48.2

42.1 64.6(4)

71.2 14.0

17.8(9)

11.5

56.5

55.5

5.0

58.8

27.0

6.8

13

By convention, shareholdings under 1% are not mentioned.

(1) Directly and indirectly by fully-owned subsidiaries

(2) Of which < 10.0% by Compagnie du Cambodge.

(3) 4,10% by SFA, a 98.4%rowned subsidiary of Plantations des Terres Rouges.

(4) 64.6% by its 53.4%-owned direct subsidiary Socfrance.

(5) 30.2% by Société Bordelaise Africaine and 6.8% by its 53.4%-owned direct subsidiary Socfrance.

(6) 1.9% by Plantations des Terres Rouges.

(7) Of which 5.3% by its 99.5%-owned direct subsidiary Compagnie de Guénolé.

(8) including 0.002% owned by Bolloré Participations

(9) including 17.8% by Bolloré Participations

(10) Indirectly, by a fully-owned subsidiary.

8.9

31.5

100.0

100.0(10)

Bolloré Railways

12.0

26.6

7.3

27.4

Bolloré Énergie

Oil logistics

100.00



37.0(5)

Bolloré Logistics

ELECTRICITY STORAGE AND

SOLUTIONS

Bolloré Ports

BOLLORÉ

TRANSPORTATION &

LOGISTICS

Blue Applications

IER

Media, telecoms

52.4

100.0(1)

Listed companies

47.6

15.1

COMMUNICATION

Shareholdings

Plantations

1,9(6)

28.6

Percentage of share capital outside the Group

Bolloré Transport & Logistics

Energy storage and industry

Controlled by Bolloré

Communication, media, advertising and telecoms

16.7

1.8(1)Socfinaf

**

9.3

% (%) % of capital (% of voting rights at General Meeting)

*

32.5

Havas

Bolloré

Plantations des Terres

Rouges

(Luxembourg)

64.0(8)

(64.4)

100.0 (1)

Nord-Sumatra

Investissements

67.2(1)

55.3(7)

(92.0)


Forestière Équatoriale

(Republic of Côte

d'Ivoire)

Financière Moncey

17.5

3.3

37.1(1)

Sofibol

25.3(1)

Compagnie du

Cambodge

29.2(1)

90.5(1)


Société des Chemins de Fer et Tramways du

Var et du Gard

4.3*

3.7*

1.1*

4.6*6.0*

2.5*

9.2*

Plastic films


35.4*


Socfin ex-Socfinal

(Luxembourg)




Blue Solutions



6.0* 3.9*

11.0*

17.5*

PowerPoint Template - Landscape - Accueil - Bolloré€¢ India, Haiti, Timor-Leste…...

Documents

Transcript of PowerPoint Template - Landscape - Accueil - Bolloré€¢ India, Haiti, Timor-Leste…...