- Auchan . com

Transcription

- Auchan . com

2005 REPORT ON ACTIVITY
CONTENTS
2 EDITORIAL
4 2005 STATEMENT
Free translation of a French language original
6 LOCATION
8 HYPERMARKETS
18 SUPERMARKETS
24 IMMOCHAN
28 BANQUE ACCORD
32 ORGANISATION CHART
Editorial
In 2005, the Auchan Group achieved
its objective for growth and
profitability, except in France which
had a difficult year.
International growth was strong in 2005 but with a highly uneven distribution:
moderate, even weak, in Western Europe but dynamic in Eastern Europe and China.
The Group’s performances reflect these differentials and, as such, 2005 was a year of
365
654
11
€33,6 billion
€41 billion
hypermarkets of which 360 are consolidated
supermarkets in 6 countries
countries
of revenue before tax (+10.6%)
of revenue including tax, for the chains
(+4.6% on a comparable basis) – 372 hypermarkets
– 2,181 supermarkets and minimarkets
02 Auchan 2005 REPORT ON ACTIVITY
contrasts: on the one hand between the mature markets, where the deflationary
pressure increased even further due to lower spending on food and the pressure of
competition, and developing markets and, on the other hand, between the retail sector
and the banking and real estate sectors, which confirmed the solid nature of their
contribution to the profits of the Group.
Analysis of the results demonstrates the strong resilience of our Company. Owned by
its original shareholders, the Mulliez family, together with its employees, Auchan
understands how to make the most of this special aspect, enabling it to develop its
strategies whilst enjoying a freedom that listed companies are sometimes denied and
to build for the long term. In remaining faithful to our vision, we are making a day to
day contribution to the purchasing power and quality of life of our ever-growing
number of customers.
The revenue before tax is 33.6 billion euros, a rise of +10.6% (+2.5% on a comparable
basis), and the recurring operating income is running at 1.3 billion euros, a rise of
+13.4% (+7.5% on a comparable basis).
The EBITDA, at 2.1 billion euros, has risen by +12% (+3.6% on a comparable basis).
The net income attributable to equity holders of the parent is 964 million euros (+44.6%).
However, recalculating to allow for the significant surplus of 225 million euros made
through the disposal of the clothing and DIY activities in Italy, its growth reached +10.5%.
The Group achieved its objectives for growth and profitability, except in France which
had a difficult year due to the sluggishness of consumption and the fall in the average
price per item and the average trolley. In the latter country, moreover, the results were
hit by the increased intensity of regulatory an competitive pressures; they were significantly
down compared with 2004. We were able to partly offset this fall, on a comparable basis,
thanks to the contribution from abroad, which rose to a significant extent.
All of the sectors and countries covered by the Group worked together to achieve
these results and to maintain the capacity of the Group for sustainable growth:
reinforced discount policies, the search for new business dynamics, work on stock
rotation, new structures such as was the case for Auchan France, even more drastic
selection of investments, rigorous management applied within the various countries
and business sectors covered by the Group.
As a result, we have been able to maintain and even improve the financial equilibrium
of the Group: our gearing is running at the very reasonable rate of 44%. In fact,
Standard & Poor’s has maintained its good rating levels in 2005 for the Group and for
21
, 48 million
€750 million
Banque Accord.
€
The strategic choices to focus investments on a smaller number of countries are starting
of EBITDA (+12.0%) (1)
to demonstrate their soundness; this year, 45% of the turnover was achieved abroad.
At the same time and more than ever, we have intensified our quest for marketing
innovations, testing large numbers of new ideas, in order to thus feed our organic
growth and provide a growing contribution to the progress of retail business.
The strong reaffirmation and the continuation of participative management at all levels
net income from continuing operations
(+10.5%)
of the business correspond to a genuine mindset widely shared by all of the teams.
The diversity of the workforce, the call on their initiative and the trust placed in
964 million
them are real assets for a creative business, focused on customer expectations.
€
This is equally a guarantee for social cohesion and economic efficiency, but also a factor
Net income attributable to equity holders
of the parent (+44.6%) of which M€ 225
surplus from disposals.
in the personal development of the individuals in the workforce.
It is this continuous search for harmonious growth, concerned for people and the
environment, this economic and social project into which we are fully committed that
1,589 million
makes and will make the Auchan Group a lasting business.
€
In 2006, the Group will benefit from the experience acquired through these new trials
from cash flows from operations (+14.6%)
of novel marketing formats and by the dynamism introduced by more participative
management on the ground, but it must also face up to the deflationary trends in food
consumption in Western Europe, to the continuation of ever more lively competition,
to the increase in tariffs for some major international suppliers and to the unhelpful
consequences of the regulatory environment in France.
44%
174,600
gearing ratio (2)
I know that I will be able to rely on the 174,600 employees of the Company to get
through these short term challenges and I would like to take the opportunity to thank
them publicly for their daily and unwavering commitment to the service of our millions
of customers.
employees (average headcount, full time
equivalent)
CHRISTOPHE DUBRULLE
Chairman of the Board
(1) Recurring operating income before other
recurring operating income and expenses,
depreciation, amortisation and provisions.
(2) Financial debts reduced by cash and cash
equivalents plus or minus derivative financial
instruments.
2005 REPORT ON ACTIVITY Auchan 03
2005 Statement
1.13
billion customers
(till receipts) in
the stores during 2005
Building a lasting business
A strategic commitment for the long term
For the second year running, the Company has had to face
a difficult economic climate in several of the countries
where it operates. Especially in France and Italy, the chains
have come up against the problem of the rapid change in
consumption patterns and a reduction in spending on food,
not to mention increased competition. In addition,
preparation in France of the new regulatory framework
introduced by the loi Dutreil has heightened legal insecurity
surrounding commercial relations.
In this unsettled climate, the Group has continued the
strategy that it set itself, being consistent with its vision, by
operating an aggressive discount policy. This relies on the
lowering of prices and a reinforcement of the range of deep
discount products. In every country, it has been accompanied
with a reduction in expenses and investment costs.
Most of the chains succeeded in retaining their market
shares and saw the number of customers and items sold
continue to rise. The activities abroad also continued their
rise in strength. In 2005 this accounted for more than 45% of
the turnover for the Group. For their part, the real estate and
banking divisions again recorded very good results this year.
Everywhere, the chains are endeavouring to offer an
appropriate range of products to meet the expectations of
the customers.
Over
They have developed a large selection of Auchan brand
products and, again, reinforced the deep discount ranges,
“Budget Booster” in particular; in 2005, these were launched
in Russia in the Auchan hypermarkets, as well as in Morocco
in the Acima supermarkets. “Self-discount” areas have been
created in the hypermarkets, particularly in France and
in Spain. Banque Accord has maintained its discount
positioning, by offering the cheapest bank cards, revolving
credit and personal loans on the market.
1,000
The ranges of regional products have been extended
through close partnerships with the SMEs.
55%
of the revenue
achieved in France
integrated stores at the end
of 2005
In order to match their distribution formats to the changes in
consumption, the chains have continued to test new
commercial ideas. Some of these began their deployment,
such as, in France, the Halles d’Auchan and Au Marché Vrac.
A non-listed family group,
held at 85% by the Mulliez family
and at 15% by the workforce.
The commercial website Auchandirect opened a 3rd centre
for the preparation of orders.
Rigorous management and a solid
financial structure
To operate its discount policy in a sustainable manner,
the Company is committed to rigorous management.
The approach to the optimisation of investments and
reduction in costs has been strengthened, contributing
significantly to the profitability of the Company.
Continuing the policy of diversification of its sources of
funding, initiated in 2003, Groupe Auchan SA launched
2 bond issues for a total sum of 675 million euros.
The prudent policy followed by the Group has enabled it
to retain its Standard & Poor’s rating for the last three
years: A for the long term and A1 for the short term. At the
end of 2005, the gearing ratio was still contained at 44%.
Banque Accord also carried out a new bond issue for a sum
of 200 million euros, to fund its growth. At the beginning of
2005 it signed a syndicated loan for 500 million euros to
fund its general requirements. Moreover, the banking
subsidiary of the Group saw its Standard & Poor’s ratings
confirmed (A- for the long term and A2 for the short term).
A clear and lasting organisation based on
business sector
After having adopted, in 2004, a new and clear
organisation based on business sectors, in 2005 the
company continued the operational implementation of
its four divisions: hypermarkets, supermarkets, real
estate and banking.
The synergies between the business sectors have been
strengthened, thereby enabling the improved
performances of the company through the optimisation of
processes and the reduction of costs. These are operational
in the fields of quality and purchasing and will be extended
to IT activities at the beginning of 2006.
Organisation around
4 business sectors.
+19 hypermarkets
and +23 supermarkets
integrated.
The service supplier structures
The WWRE market place, of which Auchan is one of the
founder members, merged with GNX to create Agentrics,
bringing together 24 founder members.
The international service support company for the global
brands, IRTS, also developed new services intended for the
SMEs, in order to help them to export to countries where
the Group is established: 13 contracts were concluded with
SMEs from 4 European countries.
A gradual and controlled
international growth
Consolidating the policy followed for the last 4 years, in
2005 the Auchan Group continued to grow abroad, in
Western Europe, in Central Europe and in Asia.
This implantation strategy is enabling it to establish firm
positions in the countries where it is present.
The company is focused on its favoured mode of
development – organic growth – and this year has not
carried out any operation of external growth within its
hypermarket and supermarket divisions. With an increase
similar to previous years of about 40 stores – in 2005, an
additional 19 hypermarkets and 23 supermarkets – the Group
has passed the milestone of 1,000 integrated stores. At the
end of the year, it comprised 365 hypermarkets, 360 of which
are consolidated, and 654 supermarkets.
The policy of internal growth of the company was also
reflected in a programme of refurbishment and enlargement
of 17 hypermarkets and about 30 supermarkets.
Finally, the year saw the closure of operations that were
running during 2004. In Argentina, the 3 stores were
disposed of. In Italy, since the buyback from the IFIL Group of
its shares in the food activities of La Rinascente, these are
now nearly wholly owned by the Auchan Group. In parallel,
the disposal of the non-food activities (Rinascente
department stores and UPIM stores) and DIY (50% of SIB
S.p.A) was finalised in the 1st half of 2005.
Supporting the growth of the Group, the growth of the real
estate and banking activities continued. Immochan opened
about 60,000 m2 of premises in shopping malls. Banque
Accord became established in a 7th country, Russia, and
created its electronic banking division CardOps. In Portugal,
the bank bought out the 49% of its Crediplus subsidiary held
by Cofinoga.
A constant policy towards human
resources, encouraging social progress
These training courses have underpinned the policy of
empowerment pursued by the company. The involvement
of the employees in initiatives for progress and the
development of their autonomy have helped to strengthen
the close relationship with the customer and to develop a
relevant business in each catchment area.
In total, 2.67 million hours of training were provided
within the 4 divisions of the Group, i.e. nearly 120,000
hours more than in 2004.
Faithful to its fundamental values, the company has
continued to support social progress. Certain chains, such
as Auchan Hungary, have set up social security schemes
for the benefit of their employees. In France, Banque
Accord in 2005 and then Auchan in January 2006 have
signed the “Charter on Diversity”.
The integration of disabled workers continued in all the
European countries, as well as in China. For example, these
represent 6.13% of the workforce of Atac, in France, which
is 2 percentage points above the average for private
companies.
As soon as possible, the company aims at settling
employee share ownership schemes in most of the
countries where it is established. Already in place in
6 countries*, it is due to be launched in 2006 in Italy, within
the hypermarkets division, and then in China within the
next few years. In 2005, the number of employee
shareholders passed the 100,000 mark. They hold nearly
15% of the capital of the Group through the Valauchan
mutual investment fund.
A policy of sustainable development
Wherever it is established, the Company aspires to act in
a responsible manner. Special attention is paid to the
social conditions for the manufacture of products, through
the carrying out of social audits.
Environmental protection remains a priority: management
of waste, “green tills”, energy savings and architectural
integration are among the actions demonstrating the
commitment of the company.
Whether at a local or a national level, the chains of the
Auchan Group fully play their role as supportive
economic players. New actions have been undertaken to
help young persons and children in particular.
Banque Accord is putting great efforts into the battle
against over indebtedness.
* France, Spain, Portugal, Luxembourg, Poland and Hungary
Within each sector, the success of the business depends
on the quality of the teams. Playing a pivotal role
in human resources policy, training remains a priority.
It is fundamental in the countries where the Group has
more recently become established. In Russia, for example,
all employees received at least one training course during
the year.
2.67 million hours
of training provided.
Rigorous management:
gearing ratio of 44%.
Over 100,000 employee
shareholders.
Location
FRANCE
SPAIN
PORTUGAL
120 Auchan hypermarkets
46 Alcampo hypermarkets
17 Jumbo hypermarkets
123 Sabeco supermarkets
and 112 associated minimarkets
17 shopping centres of which
8 are managed by Immochan
Crediplus
of which 4 are Les Halles d’Auchan
€14.4 billion consolidated revenue
before tax
6 hypermarkets in the Auchan
chain belonging to the Schiever
Group
419 supermarkets
365
hypermarkets of which
360 are consolidated
integrated (of which 272 are
Atac), 59 franchised and 82
associated with the Schiever Group
120 shopping centres
of which 102 are managed by
Immochan
654
supermarkets
€33.6 billion
consolidated revenue
before tax
Banque Accord
2.4 million customers
68,900 employees
ITALY
42 hypermarkets
of which 41 are in the Auchan chain
1,492 Sma and Cityper
supermarkets of which 218 are
integrated, 542 franchised and
732 associated
11
countries
43 shopping centres managed
by Gallerie Commerciali Italia(1)
Banque Accord
Accord Italia
18,500 employees
MOROCCO(2)
12 Marjane hypermarkets
20 Acima supermarkets
12 shopping centres
managed by Immochan
in partnership with ONA
4,300 employees
Average headcount, full time equivalent
Banque Accord
AccordFin
1.2 million customers
17,740 employees
Banque Accord
6,200 employees
The Auchan Group
at December 31, 2005
LUXEMBOURG
HUNGARY
POLAND
RUSSIA
1 Auchan hypermarket
19 Auchan hypermarkets(3)
1 shopping centre
managed by Immochan
14 Elea and A-tak
supermarkets
1 Atak supermarket
Banque Accord
640 employees
Accord Magyarorszàg
4,550 employees
Banque Accord
7 shopping centres
managed by Immochan
Banque Accord
BA Finans
Accord Finance
8,400 employees
10,200 employees
MAINLAND CHINA
13 Auchan hypermarkets(4)
13 shopping centres(4)
managed by Immochan
59 RT Mart hypermarkets
6,300 employees
TAIWAN
19 hypermarchés RT Mart
14 of which are consolidated
19 shopping centres
managed by Immochan
4,700 employees
(1) G.C.I. owned 51% by Immochan International and 49% by Simon Property Group.
(2) The Group is present in Morocco through the subsidiaries Marjane and Acima, owned 51% by ONA and 49% by Auchan.
(3) of which 16 wholly owned and 3 owned by Schiever Polska, a subsidiary owned 50% by Auchan and 50% by Schiever.
(4) Partnership with Ruentex: 67.2% of Auchan hypermarkets and 32.8% of RT Mart hypermarkets held by the Auchan Group.
Hypermarkets
« 2005 has been a contrasting year for the hypermarkets division. It has been faced with a difficult environment in Western Europe, especially in France and
in Italy, whilst at the same time benefiting from the
steady rise in strength of its activities abroad.
Everywhere, the priority for the chains has been to
26.2 billion
€
consolidated revenue
before tax in 2005
(+8.0%)
11
countries
23
hypermarkets
opened in 2005
365
hypermarkets
(of which 360 were
consolidated)
at December 31, 2005
142,900
employees
develop an appropriate product range, through the
reinforcement of discount, commercial dynamism and
adaptation to the local context. It has relied on a
strong policy of raising the professional standards and
empowerment of teams. »
(average headcount,
full time equivalent)
Christophe Dubrulle, Chairman and General Manager
of the revenue
for the Group
78%
Hypermarkets
854
million customers
(till receipts)
93%
of the revenue for
the division achieved
in Europe, of which 55%
was in France
Continuation of the discount policy
In an economic environment differing according to the
country, the hypermarkets division has had a relatively
satisfactory year.
Up by 8% (+1.2% against comparable stores), the revenue
for the division came to 26.2 billion euros. Representing
78% of the revenue for the Group, the breakdown was
55% in France and 45% abroad. Europe still generated
93% of the revenue for the division.
In France, it was a difficult year with a slight fall in revenue
and a fall in the level of margin and profit. The main
reasons for this somewhat disappointing performance were
a distinct sluggishness in consumption, a smaller average
trolley, the impact of the « Sarkozy agreements » and
intensifying competitive pressures. Italy also experienced a
difficult period because of the fall in consumption and in the
amount of the average trolley. The growth of activities
abroad, including in Spain, was able to offset the results in
France and Italy.
In order to offer products that meet the needs of all
customers, the hypermarkets are developing broader
ranges. These include an extended range of own brand
products, Auchan and “Budget Booster”. The success of
these with customers is confirmed, especially in France and
in Italy where their market shares are growing.
In all countries, the policy of improving the discount was
based on building up the range of economy goods and
on substantial lowering of prices. The average selling
prices were reduced by more than 4% in France and in
Italy. This voluntarist policy enabled the chains to maintain
their good price positioning. A traditional strength of the
company, the seasonal ranges also helped to give impetus
to the business, particularly towards the end of the year.
Bringing together basic low price products, especially sold
in bulk or pick & mix, the “self-discount” areas continued to
be deployed in France. This was initiated in Spain and
Poland and will continue, in 2006, in Hungary and Italy.
Product quality remains a priority. In Italy and France, for
example, the chains are offering a still wider selection of
regional products and those from the agricultural supply
lines and have strengthened their activities with regard to
food safety. While in Morocco Marjane developed local
supply chains, in China a range of fresh vegetables coming
Deployment of “self-discount”
areas in 131 hypermarkets
in 5 European countries.
from the “Auchan Selection” suppliers was launched this
year. In this sector, the chains are working closely with local
SMEs.
The determination of the chains, through a commercial
strategy to which they are committed for the long term,
has enabled the hypermarkets division yet again to
achieve an increase in its number of customers and in
the number of items sold.
A policy of steady internal growth
With 23 new stores opened and the enlargement of 17
in 2005, the hypermarkets division continued its policy
of steady internal growth.
More than 200,000 m2 of sales area has been created in
this way during the course of the year.
About a third of new store openings were on the
European continent, comprising 7 stores, 3 of which were
in Italy and 1 each in Spain, Portugal, Hungary and Russia.
The Cinisello hypermarket in Italy was closed for
refurbishment work. In France, La Cave in Coignières (78)
changed for « Les Halles d’Auchan » chain and the Schiever
Group opened its 6th store, with the Auchan chain, in
Châtillon-sur-Seine (21).
In mainland China, the Group inaugurated 2 Auchan
hypermarkets in Ningbo and in Tianjin, as well as 12 RT
Mart stores. In Morocco, 2 Marjane hypermarkets were
opened in Meknès and in Derb Sultan (Casablanca). Finally,
the disposal of the 3 Argentinian hypermarkets, announced
in December 2004, was finalised at the end of the
1st quarter of 2005.
Continuous improvement in
professionalism
A traditional pillar of the company, the professional
development of employees is supported by a strong
policy of empowerment. From the employee to the store
manager, autonomy and decision making by each, within
their remit, is encouraged. In Poland and in Russia, for
example, the workers in the departments can become
15 hypermarkets enlarged
and 7 opened in Europe.
Strengthening
of participative
management.
FRANCE www.auchan.fr
■ Revenue of 14.4 billion euros before tax, slightly
down in a difficult economic climate. Rise in pressure from
Training, the key to the professionalism of teams, was
reinforced in every country, being adapted to the local
context of each. In order to support the policy of
empowerment, the emphasis was put on management
training. Following Western Europe and Poland, e-learning
was launched in China in 2005. During the course of the
year, almost 2.5 million hours of training were provided in
the hypermarkets division, i.e. nearly 103,000 more than in
2004 (+4.3%).
Internal promotion continued to be encouraged; on
average this reached 30% by the end of 2005 and it was
already achieving a good level in the countries where the
Company has more recently become established, such as
Poland where it had exceeded 35% at the end of 2005.
Carried out regularly among staff, particularly in 2005, in
France, in Taiwan and, for the first time, in Italy, internal
opinion polls reflected a good level of satisfaction among
the teams. In Portugal, Italy and France, the chains
appeared in the highest ranks of classification of
“companies where it is good to work”. The noticeable
reduction in absenteeism and the low rate of staff turnover,
generally lower than average for the profession, also
demonstrate the confidence of the teams.
Responsible chains
Fully playing their role as part of a socially aware
company, the chains have again undertaken actions of
solidarity, helping children and young people. This has
been the case in Portugal, for example, where 50,000 of
them have been given assistance, in Spain, Italy and
France, through the Fondation Auchan pour la jeunesse
(Auchan Youth Fondation).
Recognising the commitment of the company to the
protection of the environment, certification to the
ISO 14001 environmental standard was obtained by the
stores in Santiago in Spain and Villebon and Fontenay in
France. At the end of 2005, 11 hypermarkets were thus
certified, of which 8 were in France, 2 in Spain and 1 in
Hungary.
2.47 million hours
of training (+ 4.3%).
■ New organisation, in order to bring together the
general management of the stores – a level in the
hierarchy was eliminated – to simplify the company and
enable it to more smoothly whilst reducing operating costs.
The tightened up general management comprises
5 operational departments and 5 functional departments.
■ Opening of the 4th food distribution discount store, Les
Halles d’Auchan, in Coignières (78), replacing the trial store
La Cave.
■ Refurbishment or enlargement of 11 stores: Aubière
(63), Belfort (90), Bordeaux-Le-Lac (33), Gien (45), Hirson
(02), Laxou (54), Maurepas (78), Melun (77), Perpignan
(66), Saint-Quentin (02) and Villeneuve-d’Ascq (59).
■ Opening by the Schiever Group of the 6th hypermarket
with the Auchan chain, in Châtillon-sur-Seine (21).
■ Take-up of a majority shareholding in the capital of
Grosbill, Internet based consumer electronics chain.
■ Creation of an EDI (electronic data exchange) centre, in
order to optimise and increase the reliability of data
exchanged with suppliers.
■ Reinforcement of the policy on training and
empowerment. More than 87% of employees attended
at least one training course during the year. Participative
management approach, through progress groups.
■ 2nd internal opinion poll involving the entire workforce:
results showed improvement in most areas.
11 stores achieved
ISO 14001 certification.
FRANCE
“segment experts”. The “participative management”
approach is also reflected in the deployment of progress
groups.
competition, reduction in food consumption and unfavourable changes in the regulatory environment. Increase in
number of visits and items sold, but fall in the average
trolley.
■ Deep-rooted discount policy: average selling prices
down by 4.3%.
● Overhaul of stock selections and continuation of the
lowering of prices: in self-service food, – 3.2% on branded
products and – 5.6% on the Auchan brand.
● Deployment of “self-discount” in 88 stores at the end of
2005. To be set up in 19 others in 2006.
● Success of new marketing campaigns, “1 euro” in
particular.
■ 7.1 million customers holding the Waaoh loyalty card.
■ Partnership with SMEs:
● At the proposal of Auchan, nearly 200 SMEs had joined the
“triple net” without back margin, by the end of 2005.
● Organisation of forums in North and in Normandy regions.
14.4 billion euros
of revenue before tax,
in 2005.
Hypermarkets
■ Significant reduction in absenteeism and staff turnover.
■ Internal promotion on the increase: more than 30% of
managers are former shop floor workers.
■ Signing of a new partnership agreement with the
ANPE. The objective: to better satisfy the recruitment
needs of the company, to diversify the methods of
recruitment and to encourage occupational integration.
■ 52,300 employees: 4,678 taken on in 2005, 51% of
which were through conversion from fixed term to
permanent contracts.
■ Increasingly strong approach to encourage the
employment of disabled persons: 1,892 disabled
employees, 167 of whom were taken on in 2005, i.e. an
employment rate of 5.14%.
■ Substantial new activities to support sustainable
development:
1,159 Auchan brand products labelled in Braille.
Strong commitments to help the environment:
● Obtaining of the ISO 14001 environmental standard
certification by the stores in Villebon (91) and Fontenaysous-Bois (94).
● 51% reduction in the number of carrier bags handed out
at the tills, i.e. 2.5 times better than the objective of 20%.
At the end of 2005, 56 stores were “100% green tills”, no
longer handing out single use plastic carrier bags.
● Eco-design approach; a reduction of packaging for
Auchan and “Budget Booster” brand products by 2,300
tonnes over 2 years.
■ Continuation of activities run to assist under-privileged
and young people:
● 22 projects supported by the Fondation Auchan pour la
jeunesse (Auchan Youth Fondation). Partnership with the Adie*
during Microcredit Week.
● Production of the 2006 greetings card in support of the
Nastenka Foundation, in Russia, to accommodate and care
for children suffering from cancer.
■ Auchan awarded the “Prize for excellence for commitment
to society” as part of the “Grand Prix for family-owned
companies” of the ASMEP and with the Special 1st Prize for
Sustainable Development from the SITL (International Week
for transport and logistics) for its activities in support of the
development of river transport, with its transport partners
Logiseine, Port de Lille and Rhône Saône Conteneur.
■
■
ITALY www.auchan.it
■ Maintaining rank as leader on price positioning for
the chain, despite lively competition. Revenue in slight
decline in a climate of economic recession and a consumer
crisis. Stagnation in its number of customers and items
sold.
● Reinforced ranges of deep discount products: 1,500 listed
items of which 1,000 are “Budget Booster”. Strong growth
in their sales.
● Average selling prices down by 4.1%.
● Creation of “self-discount” areas in Bergame and Fiumicino
(Rome). To be set up in about twenty stores in 2006.
■ Enhancement of the fresh produce ranges. Expansion of
ranges of products sourced from agricultural supply lines.
■ Success of the “Sma Auchan” range of 4,500 products.
■ Continuation of the policy on innovations and services.
● Second filling station for the Auchan chain, in partnership
with the petroleum company Tamoil, in Curno (Bergame). In
2006, new filling stations planned for opening in Cuneo
(Piedmont) and in Rescaldina (Lombardy).
● Creation of “jewellery sections” in 7 stores and “optician
areas” in 4 stores.
■ Opening of 3 hypermarkets in Cesano Boscone
(Lombardy), Volla (Naples) and Fiumicino (Rome). Closure
of Cinisello (Milan) for enlargement. Extension of Sassari
(Sardinia).
■ In 2006, opening of a hypermarket in Giugliano (Naples).
■ Finalisation of the logistics in Sicily: creation of a staple
goods warehouse in Catania (Sicily). Opening of a frozen
foods warehouse in Rome Santa Palomba.
■ Disposal of clothing activities (UPIM and La Rinascente
chains) to a consortium comprising Investitori Associati SGR
S.p.A., DB Estate Global Opportunities IB L.P, Pirelli Re S.p.A
and the Borletti family. Disposal of DIY activities (50% of
SIB S.p.A. – Leroy-Merlin and Bricocenter chains) to Leroy
Merlin.
Opening of a 4th hypermarket
in the Les Halles d’Auchan
chain.
Take-up of a major
shareholding in the capital
of Grosbill.
ITALY
FRANCE
* Association for the right to economic initiative.
Average selling prices
down by 4.1% in 2005.
■ Reinforcement of the “Auchan Controlled
Production ” range, coming from agricultural supply lines:
more than 120 products, i.e. about 40 more than in 2004.
■ New services offered. Possibility of ordering textbooks
on the site www.alcampo.es. “Alcampo Telecom” fixed line
telephony at low prices.
■ Opening of the 46th Alcampo hypermarket in
■ Nearly 180,000 hours of training, i.e. +12%
compared with 2004. Development of self-training in all
stores. Training in crisis management.
■ Creation of progress groups, in every store.
■ Launch of a quarterly commercial counter bonus.
■ 10,000 employees. Low rate of staff turnover: less than 8%.
■ Almost 44% of section heads coming through internal
promotion.
■ Good results from the first internal opinion poll.
■ Signing of agreements with the authorities, for the
integration of disabled workers.
■ Launch of the employee share scheme planned for 2006.
■ Creation of “Eco-tills”, in Fiumicino (Rome), no longer
handing out carrier bags and intended for customers using
reusable bags.
■ Activities and awareness-raising on the problems of
orphans throughout the world. Partnership with the “Amici
dei Bambini”. 1% of sales of more than 200 Rik & Rok
products paid to a family resource centre in Reggio Calabria.
■ Mobilisation in support of the Telethon: 870,000 euros
raised.
SPAIN www.alcampo.es
46 Alcampo hypermarkets
■ Good growth in revenue, despite the slowdown in
Opening of 3 Auchan
hypermarkets.
SPAIN
consumption in the 2nd half. Increase in number of
customers and items sold.
■ Chain continuing to lead in price positioning in a
climate of very lively competition.
● Creation of “self-discount” areas in 31 hypermarkets.
Spreading to about forty stores in 2006.
● Success of the “1 euro” campaign, run on 2 occasions.
Albacete, Castille la Manche.
■ Transfer of the Castellón store and launch of the second
phase of extension of its shopping centre.
■ Enlargement of the Motril hypermarket.
■ Creation of new filling stations for the Alcampo chain,
in Motril and, in 2006, in Albacete.
■ In 2006, opening of a hypermarket in Murcia.
■ Active policy supporting the integration of disabled
persons: nearly 300 employees, i.e. 2.6% of the
workforce, the legal rate being 2%. In Motril, opening of
the 8th filling station managed entirely by disabled workers.
■ Deployment of e-learning and introduction of new
training courses, in particular for managers. More than
211,000 hours provided, i.e. +30% compared with 2004.
■ Launch of more than 80 progress groups. Objective of
rolling out to all stores in 2006.
■ 12,500 employees.
■ 35% of section heads coming through internal promotion.
■ Chain rewarded on several occasions for its strong
commitments to society, particularly in support of
disabled persons and children in difficulty. Regular support
for numerous foundations, notably “Save the Children” and
“Crecer Jugando”. Development of partnerships through the
Rik & Rok club.
■ Almost 300 Auchan brand products labelled in Braille.
■ Promotion of fair trade, in partnership with Intermon
Oxfam. Success of the Fair Trade Fortnight, run for the
2nd consecutive year.
■ Achievement of the ISO 14001 and EMAS* environmental
quality certification* by the Santiago store. Establishment of
green tills in Albacete, no longer handing out single-use plastic
carrier bags: wider use of reusable bags.
* Eco-Management and Audit Scheme.
Opening of the 46th
Alcampo hypermarket
in Albacete.
Opening
of 31 “self-discount”
areas.
Hypermarkets
PORTUGAL www.auchan.pt
17 Jumbo hypermarkets
■ Jumbo, leading chain in the hypermarkets sector in
terms of increased revenue and gains in market
share, in the face of rising competitive pressure and a
slowdown in consumption.
Well-established chain leader in price positioning,
acknowledged through a study by the Treasury Minister as
being the cheapest in the country. Seasonal and “low price”
campaigns. Broadening of the economy goods range: more
than 1,300 listed items.
■ Enhanced quality approach.
● For fresh produce, “Auchan stamp” based on hygiene and
traceability criteria awarded to 320 suppliers, i.e. about a
hundred more than in 2004.
● Certification of fresh produce departments awarded by
SGS/ICS to Alfragide. Including Almada and Maia, 3 stores
certified at the end of 2005.
● Extended range of “Vida Auchan” products coming from
agricultural supply lines: 24 new items i.e. a total of 74 at
the end of 2005. More than 100 organic products.
■ Support for the export of Portuguese products to the
stores of the Group in France, Luxembourg, Italy and Spain:
working closely with 150 suppliers.
■ Company recognised as socially responsible by the
Portuguese government, for the 3rd year running.
Involvement in child aid: 50,000 children supported
through 250 institutions.
■ Environment action plan in each store. Implementation
of indicators to measure progress. Awareness-raising
campaign “Because the environment deserves better”
involving employees and customers.
■ Nearly 350 Auchan brand products labelled in Braille.
■
■ Opening of the 17th Jumbo hypermarket, in Coimbra.
■ Creation
LUXEMBOURG www.auchan.lu
1 Auchan hypermarket
■ Reinforced position as the least expensive chain,
in a climate of slowing consumption and stronger
competition. Rise in number of customers for the 5th year
running.
● Average selling prices down by 2.7%.
● Market share for deep discount products growing strongly.
● Success of the “1,000 cheapest products in Luxembourg”
campaign.
■ Stock selections adapted to the expectations of the
international communities present in the Grand Duchy.
In 2006, reorganisation of the non-food areas.
■ 640 employees.
of a first filling station, in Aveiro.
■ 173,000 hours of training, i.e. +14% compared with
Opening of the 17th
Jumbo hypermarket
in Coimbra.
50,000 children helped
through 250 institutions.
LUXEMBOURG
PORTUGAL
2004. Development of e-learning and launch of new
training courses, notably on new technologies and for
managers.
■ 6,100 employees. Falling rate of staff turnover: less than 8%.
■ Increase in internal promotion: 55% of section heads
by this route.
■ Initiative in support of the integration of disabled
workers.
The least expensive chain
in the Grand Duchy.
HUNGARY www.auchan.hu
POLAND
■ Auchan acknowledged as the leader on prices in all
catchment areas, in the face of increasingly intense
competition and a still low purchasing power, due in
particular to the high rate of unemployment.
● Chain ranked 1 st on prices, notably by the economic
weekly Polityka, for the 2nd consecutive year, and by the
daily, Fakt.
■ “Self-discount” areas (“Bazarek Luz”) opened in
8 hypermarkets: sale of products in bulk, at very low prices.
■ Innovative seasonal campaigns: swimming pools and
summer games, digital convergence, wines, major
“Everything at 4 zlotys” discount campaigns etc.
■ Confirmed success of the “Skarbonka” loyalty card,
after 2 years in existence.
■ In 2005, enlargement of Piaseczno.
■ During the 2 nd half of 2006, opening of a store in
Rzeszow in the south-east of the country.
■ Policy of empowerment and improvement of
professionalism.
Creation of “hit squads” – working groups for the
improvement of business performance.
● High rate of internal promotion. More than 35% of
section heads through this route. Three quarters of store
managers are Polish.
● More than 236,000 hours of training, i.e. 29 hours per
employee. Roll-out of e-learning.
●
■ Position confirmed as leader on prices, in a difficult
climate: tightening of regulations, slowdown in consumption
and intensified competition.
● Success of economy goods: nearly 600 listed items. “Low
price” marketing campaigns.
● First “self-discount” sections in Dunakeszi and Solymár.
Deployment in 3 other stores in 2006.
■ Food product range revised in order to adapt it to the
expectations of customers.
■ Planned launch of Auchan brand products, in 2006.
■ Opening of the 10th Auchan hypermarket, in
Solymár: strengthening positions to the north-west of
Budapest.
■ Refurbishment and enlargement of Soroksar. Creation
of a garden centre in Szigetszentmiklós.
■ Setting up of filling stations with discount prices in five
stores.
■ More than 300 jobs created on the opening of
Solymár, bringing the workforce up to 4,500 employees.
Significant fall in staff turnover.
■ More than 126,000 hours of training provided (+4.7%)
during the course of the year, i.e. 30 hours per worker, in
particular on basic hypermarket skills. Partnership with a
technical college for the training of butchers. Launch of the
first progress groups.
■ Creation of a “health protection” plan aimed at
employees.
■ New commitments in terms of sustainable
development.
More than 60% of paper and plastic waste recycled.
Adoption of more environmentally friendly carrier bags and
launch of reusable bags.
● Collaboration with the Ministry of Agriculture to develop
a code of ethics between the various partners from
producer to distributor.
● Involvement in activities of the Europrosperitas 2010
Foundation, encouraging sustainable development.
● Aid to the Red Cross, after the floods in the Nógrád region.
●
Opening of
8 “self-discount”
areas.
More than 35%
of section heads coming
through internal promotion.
HUNGARY
POLAND
■ Creation of an export cell. Support for export by Polish
SMEs to other countries where the Group is established.
■ Setting up of an ethics committee.
Opening of the 10th
Auchan hypermarket in
Solymár (Budapest).
Hypermarkets
RUSSIA www.auchan.ru
MAINLAND CHINA
13 Auchan
59 RT Mart
(1)
■ Strong discount positioning of the chain. Rise in
selling prices well below inflation.
● Stock selections mainly comprising local economy goods.
Launch in 2005 of a range of deep discount products
manufactured in Russia.
● Success of seasonal campaigns.
■ Broadened range of fresh produce and highly
developed approach to food safety. Strict quality controls.
■ First offers of credit, with Banque Accord.
(1)
hypermarkets
hypermarkets
■ Auchan, the least expensive chain in its catchment
areas, in a climate of rising competition.
“Budget Booster” deep discount products much
appreciated by customers. More than 800 listed items
offered, i.e. more than double that of 2004. “Low price”
marketing campaign: price reduction of 5% across the
range, maintained after the campaign.
● Success of the seasonal departments, back to school and
clothing in particular.
■ Development of Auchan brand products launched in
2004: more than 450 listed items.
■ Creation, in the store in Suzhou, of a range of fresh
vegetables, “Auchan Sélection” coming from sustainable
agriculture. Objective of extending the approach to other
stores and to the meat and fruit departments, to reach 70
listed items by the end of 2006.
■ Wider selection in the car and DIY departments.
●
■ Opening of the 7th Auchan hypermarket in Moscow
Altufievo.
■ Enlargement of the warehouse.
■ More than 266,000 hours of training provided, an
increase of 30% compared with 2004, i.e. 30 hours per
worker. Creation of a school for management teams and,
for the employees responsible for a trade, a school for
experts in that trade.
■ Building of the teams for store openings, bringing the
workforce up to 8,400 employees. Appointment of the
1st Russian store manager.
■ Opening of 2 Auchan hypermarkets, in Ningbo
(200 km to the south of Shanghai) and in Tianjin (130 km to
the east of Beijing), and 12 RT Mart stores.
■ In 2006, opening of 4 Auchan hypermarkets, in the
regions of Shanghai and Chengdu.
■ Involvement of the stores in activities to support
children in difficulty. Production, with Auchan France, of
the 2006 greetings card in support of the Nastenka
Foundation, for children suffering from cancer. Nearly
23,000 euros paid to fund the care programmes.
■ Development and implementation of the Auchan
China company vision.
Launch of a range of
“Budget Booster”
deep discount products.
Opening of a 7th
hypermarket
in Moscow.
CHINA
RUSSIA
■ Almost 277,000 hours of training provided, a rise of
+18% compared with 2004, i.e. 48 hours per worker.
Launch of e-learning; roll-out planned for 2006. Setting up
of progress groups.
■ At the end of 2005, workforce increased by +15%
through store openings. 6,300 employees in the Auchan
hypermarkets.
■ Establishment of partnerships with schools and
universities, by each Auchan hypermarket.
Opening of 2 Auchan
hypermarkets, in Ningbo and in
Tianjin and of 12 RT Mart stores.
Creation of a fresh
product range,
“Auchan Sélection”.
■ Chain recognised by the authorities for its strong policy in
support of the integration of disabled workers.
share scheme under consideration.
■ Employee
■ Actions for the protection of the environment:
MOROCCO
12 Marjane
(3)
hypermarkets
recycling of 100% of packaging waste.
(1) Partnership with Ruentex: 67.2% of Auchan hypermarkets and 32.8%
of RT Mart hypermarkets held by the Auchan Group.
TAIWAN
19 RT Mart hypermarkets
(2)
■ Discount policy, on all products, in a very competitive
climate. Original marketing campaigns and a broader
selection of deep discount products: more than 1,500 listed
items, i.e. +80% compared with 2004.
■ Refurbishment of the store in Anping. Change from
Apic to RT Mart chain.
■ Renovation and expansion of the Neihu 1 shopping
mall, in Taipei.
■ At the end of 2005, a total of 23 stores integrated and
affiliated: 14 RT Mart fully owned and 5 under
management and supply contract, 3 Save & Safe and
1 Tuntex under central purchasing membership contract.
■ Work on the improvement of professionalism and
the stabilisation of teams.
Introduction of a progress bonus, a profit-sharing scheme
calculated on the basis of the improvements in turnover
and cash-flow.
● Creation of an internal bakery training college.
● New partnerships established with professional schools.
● In 2006, setting up of the first progress groups.
■ 4,700 employees. Falling staff turnover.
■ First internal opinion poll carried out among the staff.
■ Approach to encourage the integration of disabled
employees: number of workers up by +15%, above legal
requirements.
●
■ Good performances in the face of intensified
competition. Rise in number of customers and items sold.
■ Overhaul of stock selections and creation of a range of
“economy goods” manufactured in Morocco: 50 listed
items, mainly foods, sold at 10 to 15% cheaper that the
bottom-of-the-range branded products.
■ Success of the “10-15 dirhams” campaign.
■ Greater emphasis on heavier discounting adopted by
the Derb Sultan store.
■ Enhanced quality approach: awareness raising and
training of teams on food safety. Launch of monthly
horizontal audits. Creation of local supply chains for fruit and
vegetables and beef, with a quality specification stipulating
the benchmark standards for the methods of production.
■ Opening of 2 Marjane hypermarkets, in Meknès and
in Derb Sultan (Casablanca). Expansion of Hay Riad.
■ New import warehouse Staple and non food items, in
partnership with Acima.
■ In 2006, 2 store openings planned, in Marrakech and in Hay
Hassani .
■ Creation of 600 jobs for the openings, bringing the
workforce up to 3,300 employees.
■ Close partnership with Moroccan SMEs. Local supply
chains and support for exports: Morocco Fortnight
organised in the Auchan hypermarkets in France.
■ 7% reduction in energy consumption.
■ Continuation of actions on solidarity. Support for the
creation of a community centre beside Derb Sultan.
(3) The Auchan Group is present in Morocco through its Marjane
subsidiary, held 51% by the ONA and 49% by Auchan.
1,500 deep discount
products: + 80%
compared with 2004.
MOROCCO
TAIWAN
(2) of which 14 are consolidated.
Opening of the largest
hypermarket in Morocco,
in Derb Sultan (Casablanca).
Supermarkets
« Whilst it has had to face a difficult economic situation
in Europe, particularly in France and Italy, the supermarkets division showed a good resilience and has
retained its market shares.
By pursuing our marketing trials approach, we have
built on our business, through innovation and high
6.7 billion
€
of consolidated
revenue before
tax in 2005
6
countries
2,181
supermarkets
(of which 654 are integrated,
601 franchised and 926 associated)
as at 31 December 2005
29,150
employees
(average headcount,
performance to best meet the expectations of our
customers.
Finally, this year we have established ourselves in a
6th country, Russia, with the first Atak supermarket in
Moscow. »
Benoist Cirotteau, Chairman and General Manager
20%
of the revenue
for the Group
Supermarkets
23
additional integrated
supermarkets in 2005
50%
of the revenue for the
supermarkets division
achieved abroad
Seeking growth and innovation
In 2005, the whole of the European food distribution
industry, including the hard discounters, suffered, as in
the previous year, from an unfavourable economic
situation. In this difficult context, especially in France and
Italy, the supermarkets division succeeded in retaining its
markets shares and saw its number of customers continue
to increase. The growth in sales abroad, notably in Spain
and in Morocco, helped to offset the fall in revenue seen in
France and Italy. In 2005, the revenue for the division came
to 6.7 billion euros. This account for 20% of the Group
revenue.
The number of supermarkets grew by 154 sales outlets
(23 integrated, 37 franchised and 94 associated).
It includes 16 additional integrated stores in Western
Europe: 8 in France, 7 in Italy and 1 in Spain. The
refurbishment programme was continued in these
3 countries: it involved 19 supermarkets in France and 8 in
Spain, and was begun in Italy. The growth of the franchise
continued, notably in Italy where the total was increased
by about 40 stores.
The year was marked by the opening up of a 6th country
for the establishment of the division, Russia, where the
1st store of the Atak discount chain was unveiled in
Moscow in October. The A-tak chain was also trialled in
Poland, in 2 stores in Warsaw. Moreover, an Elea
supermarket was opened in Gdynia.
Finally, Acima opened 4 stores in Morocco and now has a
total of 20.
At the end of 2005, the supermarkets division had a total
of 2,181 stores in 6 countries, of which 654 were
integrated, 601 franchised and 926 associated.
A simple range to meet the needs
of every customer
In 2005, the supermarkets division continued its
aggressive and innovative marketing policy, endeavouring
to develop simple product ranges, covering the essential
needs of all customers, whatever their purchasing power.
Opening of a 1st Atak
in Russia.
The chains strengthened their discount positioning and
carried out new price reductions. These were accompanied
by low price marketing campaigns, for example “For 2 or
4 zlotys” in Elea. The new slogan adopted in Spain,
“Sabeco precios bajos, bajos” (“Sabeco, low, low prices”)
and the campaigns such as “Integral refund” in France and
“Birthday” in Italy, with a 20% reduction on the till receipt,
demonstrate the aggressive pricing policy of the chains.
Over the year, average selling prices were reduced by more
than 4% in France and 2.5% in Italy. In all of the European
countries, the deep discount product ranges were
extended and accounted for an increasing proportion of
sales. This year a range of “Budget Booster” economy
goods was launched in Morocco.
Work on the refining of stock ranges enabled the
development of a streamlined product range to meet the
expectations of customers. Within all of the chains, it is
adapted to the local context and includes a wide selection
of regional products. In order to enhance the close
relationship with customers, innovative new services were
created.
A strong point of the chains, the fresh foods sections were
extended. Product quality remains a priority.
A policy of marketing trials
The policy of marketing trials, initiated in 2004, was
continued. The trials conducted included reduced stock
selections, range of bulk-buy products, and new chains. In
France, a dozen Atac supermarkets reviewed their stock
selections to give priority to own brand products, and
“Maxi discount” sales areas were created in about fifty
stores. The Simply Market format, offering optimised
selections of products at the lowest price, in a colour-coded
and carefully designed environment, was trialled in Italy
and then in France and, from the beginning of 2006, in
Spain. Other chains, such as Easymarché in France and
A-tak in Poland were trialled, at one or more sales outlets.
+154 supermarkets in 2005:
23 integrated, 37 franchised
and 94 associated.
Policy of
marketing
trials.
Teams of retail entrepreneurs
With the ambition of creating teams of professional
employees, true “retail –entrepreneurs”, the Company
continued its strong policy of empowerment.
In all of the chains, training continued to increase, primarily
on skills, through the hands-on workshops. These were set
up in Morocco in 2005 and have been deployed in other
countries. In France, more than 1,000 fruit and vegetable
workers and 250 seafood workers have been trained in this
way.
The emphasis has also been placed on training for
management. In France in particular, Atac continued its
“Cap 3” approach, aimed at building a common
management culture, for greater empowerment and
autonomy.
In 2005, a total of almost 190,000 hours of training were
provided, within the supermarkets division, i.e. 17,000
more than in 2004 (+10%).
To continuously improve the business and to build a closer
relationship with customers, the policy of participative
management was also reflected in the roll-out of progress
groups. Following France and Poland, these were launched
this year in Spain.
The integration of disabled persons remains, moreover, a
strong area of focus, particularly in Spain and France.
Supportive chains
Responsible economic players, the chains have carried out
new actions of solidarity, at a local as well as at a national
level.
Whether in the form of financial support or food donations,
they regularly provide assistance to bodies and
associations.
In Italy, the Sma chain was again involved in helping
orphans and was, for the 4th year running, an official
partner for the Telethon.
In France, Atac renewed its partnership with the ADIE*,
taking part in Microcredit Week and producing its 2006
greetings card for the benefit of the association.
Actions to protect the environment were also continued. In
France, for example, 80% of Atac supermarkets no longer
hand out disposable carrier bags.
190,000 hours of
training provided
(+ 10%).
FRANCE
FRANCE www.atac.fr
419 supermarkets
278 integrated (of which 272 are Atac), 59 franchised
and 82 associated with the Schiever group
■ Slight fall in revenue in a difficult climate with
stagnation in consumption and unfavourable changes in the
regulatory environment. Stability of market share; rise in its
number of customers and in the number of items sold.
■ 20 th anniversary of the Atac chain. Strengthened
discount positioning.
● Enhancement of the deep discount ranges: strong growth
in their sales.
● Average selling prices lower by more than 4%.
● Success of the marketing campaigns “20 years of Atac”,
“Integral refund”, “Cheapest back to school in France” etc.
■ Policy of marketing trials:
● Discount chains: Simply Market, Easy Marché, Fredi,
Eurobounta.
● “Maxi discount” sales areas, in about fifteen stores:
simple packaging, bulk packs, staple products and
unbranded foods presented in their original packaging.
● In about a dozen stores, optimised and streamlined range
of goods: priority to own brand, Auchan and deep discount
products.
■ Promotion of the non–food seasonal range.
■ New loyalty card: opportunity to collect euros in a “kitty”
and personalised promotional offers.
■ 8 additional integrated sales outlets.
■ Continuation
of the renovation programme: 19 stores
enlarged or refurbished in 2005.
■ New information system for the management of stock
flows.
■ In 2006, opening of about 20 stores planned.
■ Strong initiatives for the improvement of
professionalism.
● Approach known as “Cap 3”: common management
culture, in order to reinforce empowerment and autonomy.
● Hands-on training workshops, primarily on fresh
products: more than 1,000 workers trained on fruit and
vegetables and 250 on seafood; begun for bread, cakes
and pastries.
● Initiative and progress groups: sharing of good practices
to improve the business.
● Development of training, in particular for managers and
for new recruits. Almost 100,000 hours provided, i.e. + 8%.
■ Partnership with the ANPE to develop the method of
recruitment based on competencies.
■ Continuation of the policy for the integration of disabled
workers, through the Handicap Atac programme: 6.13% of
workers, i.e. more than 2 percentage points above the
average for private companies. Awareness raising of teams.
Average selling prices
lower by more than 4%.
Nearly 1,000 fruit and vegetable
employees trained through the
”hands-on” training workshops.
Supermarkets
■ Extensive environmental approach:
■ 4th year as a partner in the Telethon: 730,000 euros
80% of stores no longer handing out carrier bags.
Cardboard and plastic recycling. More than 40 tonnes of
batteries collected (+10%).
● Investment to encourage architectural integration when
opening or refurbishing stores.
■ New actions on solidarity, at local and national levels.
Food donations, support for the Handisport federation.
Partnership with the ADIE*: participation in Microcredit
Week and production of the 2006 greetings card for the
benefit of the association.
raised.
■ Events and awareness-raising on the problems of
orphans throughout the world. Partnership with the
Friends of Children (Amici dei Bambini). 1% of sales of
more than 200 Rik & Rok products paid to a family resource
centre in Reggio Calabria.
■ Extension of the fair trade products range.
●
●
www.smasupermercati.it
ITALY www.cityper.it
1,492 supermarkets
of which 218 integrated Sma and Cityper(1),
542 franchised and 732 associated.
■ Aggressive pricing policy, in a difficult climate of
sluggish consumption and price wars. Stable revenue.
Average selling prices lower by 2.5%. “Birthday”
campaign, with a 20% reduction on the till receipt.
● More than 600 listed deep discount items: increase in
revenue and number of items sold.
● Trial of a new supermarket discount format, “Every day
low prices”, in the Simply Market chain: rationalisation of
the range of staple goods and conventional fresh products.
Emphasis placed on deep discounts and own brands.
9 Sma supermarkets transferred into the chain and 6 stores
opened.
● Bulk concept trialled since 2004, rolled out in 8 Cityper
stores.
■ Development of product ranges coming from agricultural
supply lines.
●
■ Opening of 6 Simply Market stores and one Cityper.
37 additional stores franchised.
■ Refurbishment and expansion of 2 stores.
■ Creation of a chilled products warehouse in Offagna
(Ancona). Expansion of the warehouse in Palma Torrazze
(Catania) and of the chilled products warehouse in Rome.
■ In 2006, planned opening of 5 integrated supermarkets.
(1) 161 Sma, 15 Simply Market, 42 Cityper.
SPAIN www.sabeco.es
235 stores
of which 123 integrated Sabeco supermarkets and
112 associated minimarkets.
■ Stable revenue in the face of intense competition.
Stronger positioning on discount.
● New slogan Sabeco precios bajos, bajos (Sabeco, low,
low prices).
● Trial of a discount concept in Lerida and, at the beginning
of 2006, of the Simply Market format.
■ Building up of the fresh products sections. Hot food
point in the bakery in 50 stores. Expansion of the fresh and
cooked meats sections.
■ Product range adapted to each catchment area, including
regional products.
■ 5 supermarkets opened and 3 bought out. Closure
of 7 sales outlets. Opening of 6 stores and expansion of
7 planned for 2006.
■ Continuation of the refurbishment programme: 8 stores
modernised.
■ Opening of a new distribution centre in Miranda de Ebro to
supply 51 stores in the north of the country.
■ Rollout of the order proposal system.
■ Extension of new hands-on training workshops for
fresh meats, fish and bakery. New training courses.
■ Creation of the 1st progress groups.
■ Partnership with Fundosa and the ONCE for the integration
of disabled workers.
■ Agreement with the government of Aragon for the
training and integration of young people.
■ Reinforcement of training.
+51% of hours provided compared with 2004.
New training modules (customer service, management,
training for trainers, crisis management). Hands-on training
workshops for fresh meat, cooked meats and cheese.
■ Partnership, in Rome, with the “Comunità Capodarco”
association, for the integration of disabled young people
into the workforce.
notably through supporting the activities of the Red Cross,
Intermon Oxfam and the IUVE Foundation. Agreement with
the Women’s Institute to provide employment to female
victims of domestic violence.
Average selling prices Opening of
lower by 2.5%.
7 integrated stores.
SPAIN
■ Assistance given to under-privileged persons;
●
ITALY
●
New slogan “Sabeco,
low, low prices”.
Buyout of
3 supermarkets
in Zaragoza.
RUSSIA
1 Atak supermarket
■ Opening of the first Atak supermarket in Moscow
Kluchevaya. Discount positioning and priority given to the
range of staple commodities.
■ 65 people recruited.
POLAND
MOROCCO
14 supermarkets
of which 12 Elea and 2 A-tak.
(2)
■ Acima consistently the number 1 supermarket
chain, on price positioning. Low price marketing
■ Active pricing policy, in a climate of stronger competition.
● Low price campaigns, “for 2 and 4 zlotys”, selling in bulk.
Deep discount ranges reinforced: nearly 900 listed items,
more than half of which are the “Budget Booster” brand.
● Trialling of a local discount format with the A-tak chain:
simplified product range and emphasis on fresh produce,
perfumery and services.
■ Priority given to the fresh food departments and expansion
of the range of regional products. Strong commitments to
quality: awareness-raising of teams about food safety.
■ Innovative services: bank withdrawal, Lotto, opportunity
to pay bills for telephone, water, electricity etc. at the till.
campaigns and creation of a range of “Budget Booster”
deep discount products manufactured by local companies.
■ New initiatives on food safety: increase in the number
of audits on fresh products and creation of hygiene and
safety committees.
■ Rapid expansion of the chain:
● 20 supermarkets opened in 4 years, 4 of which were in
2005, in Témara (Rabat), Massira (Marrakech), Hjajma
(Casablanca) and Tangiers.
● In 2006, 6 planned store openings: 4 in Casablanca, 1 in
Meknès and 1 in Fez.
■ Creation of a warehouse for staple products, in Casablanca.
■ Opening of an Elea in Gdynia and of 2 discount stores of
the A-tak chain, in Warsaw. Closure of the Elea store in
Bielsko Biala.
■ 3 store openings planned for 2006: 2 Elea and trialling
of an A-tak, in the provinces.
■ Creation, with the hypermarkets of Auchan Poland, of
the first logistical structures, for staple products and for
promotional campaigns. In 2006, launch of the supply
chain for fresh products.
■ 250 jobs created in 2005, bringing the workforce to
1,025 employees.
■ Emphasis on training: more than 27,000 hours provided,
i.e. 25 hours per employee.
● First hands-on training workshops on fresh meats, tills
and, beginning in 2006, on fruit and vegetables.
● Internal training programmes intended for store
managers and section heads.
■ 81% of staff given training in 2005. New training
courses for managers.
employees.
■ Continuation of the progress groups approach, for fresh
meats, fruits and vegetables, logistics. Mobilisation on
general cost reduction.
■ Support provided to several charitable organisations,
■ 750
in particular to help handicapped children.
(2) The Group is present in Morocco through its subsidiary Acima, held
51% by the ONA and 49% by Auchan.
Opening of the first Atak
supermarket, in Moscow.
MOROCCO
Trial of the A-tak chain.
RUSSIA
POLAND
■ Participation by stores in the Food Bank day of action.
opened in 5 years,
4 of which were in 2005.
Creation of a “Budget
Booster” deep discount
products range.
Immochan
« 2005 was another year of sustained growth for
Immochan. 60,000 m2 of commercial premises were
opened in our shopping malls and the setting up of
dedicated Immochan subsidiaries in each country,
begun last year, is in the process of being finalised.
Everywhere, the growth in our activities has been
307
shopping centres
in the Group, of which
257
are managed
by Immochan
250
employees
(average headcount,
full time equivalent) in
11
countries
1.1
million m2 of shopping
malls of which
dependent on strong human contributions. Training
and the sharing of expertise have contributed significantly to improving the professionalism in each of our
four skills areas as property developer, marketer,
manager and investor. »
41%
Vianney Mulliez, Chairman
abroad
are in France and
59%
Immochan
Sustained growth of activity
60,000 m
2
of commercial premises created
in malls in 2005
+500
new leases in the shopping
malls in 2005
Reached the
300
million euros mark for
revenue in 2005, of which 52%
was in France
4
skills areas: property developer,
marketer, manager, investor
The real estate subsidiary of the Auchan Group and one of
the leading European companies for developing, owning
and operating shopping centres, Immochan has had
another year of sustained growth.
The creation of the holding company Immochan
International, in 2004, was followed by the setting up, in
every country, of dedicated and adapted legal and
managerial structures. In this way, the company Immochan
Hungary was created in 2005. The reorganisation of the real
estate division of the Group will be completed in 2006, with
the creation of Immochan companies in Poland and in
Portugal.
In a highly dynamic market climate, Immochan recorded
very good results for 2005 and remains a key element in
the profitability of the Group. In all countries, the rates of
vacant premises in the shopping malls stayed at a very low
level (5% on average), particularly in Portugal, Italy and
Poland where they came close to 2%. In Europe, 20% of all
leases were renewed during the year.
The development of activities abroad was continued.
During the course of the year, 60,000 m2 of commercial
premises were created in shopping malls, in particular
45,000 m2 in Europe, mainly in Italy, Hungary and Russia,
where a shopping centre was opened in each of these
three countries, and 13,000 m2 in Asia, where 2 Auchan
shopping centres were inaugurated in China. At the end of
2005, the share of revenue from abroad came to 48%.
The development of business parks has also continued,
notably in France, where 50 middle-sized outlets were
opened. It was started in Poland and in Hungary, where it
will continue in 2006.
At the end of 2005, the Group had a total of 307 shopping
centres, 257 of which are managed by Immochan.
A policy for the development of high
quality shopping centres
The priority for Immochan is to develop high quality and
user friendly shopping centres, true life spaces where every
customer feels good. Visible throughout their visit to the
shopping centre, the visual identity created two years ago has
Creation of the dedicated Immochan
subsidiary in Hungary in 2005, then in
Portugal and in Poland in 2006.
been rolled out to about twenty shopping centres in France.
It has also been partially deployed in Poland and in Hungary.
In order to monitor the quality of the shopping centres,
analytical tools are regularly used, such as Qualicentre, rolled
out in France in 2005. From access and parking to the facilities
and services offered, about 300 aspects are checked, 4 times
per year. This external audit makes it possible to identify
aspects for improvement and to measure progress.
The mix of shops itself is decided on the basis of each
catchment area. Key partners, the chains are bringing their
expertise together with that of Immochan to provide,
together, a range relevant and appropriate to the local
situation.
In order to build steady relations with them, Immochan is also
continuously listening to the retailers operating in its shopping
malls, through a “flash satisfaction” survey, initiated in 2005.
Adopting a sustainable development approach, Immochan
is committed to optimising the use of natural resources and to
blending each shopping centre into its environment. The real
estate subsidiary works on their architectural integration, by
encouraging the use of local materials and by placing an
emphasis on green spaces. In 2005, for example, the
expansion and renovation of the Quentin de la Tour shopping
centre (Saint-Quentin – 02), in France, was the subject of
architectural and landscaping specifications to achieve
effective harmony of the building and its parking areas within
their environment. To emphasise their local roots, baked clay
bricks were used and more than 4,000 shrubs were planted.
Teams of recognised experts
The growth of the real estate activity is accompanied in
every country by significant investment in the teams.
Training courses have been created in order to extend skills
through the transfer of expertise abroad.
After the formalisation of a reference system, performance
criteria have been defined and good practices have been
identified. These have been made available to all, through
new tools, in particular via the IT systems that were rolled
out in all countries in 2005.
5 shopping centres opened
and 8 expanded in 2005.
Rate of vacant premises in
shopping malls at less than 5%.
CENTRAL AND EASTERN EUROPE
FRANCE www.immochan.com
www.immochan.com
36 shopping centres
of which 102 are managed by Immochan
■ Finalisation of the reorganisation of Immochan
France into skills areas. Reinforcement of property
development and operational teams. Extension of training.
■ Renovation and enlargement of 5 shopping centres:
Saint Sébastien (44), Bordeaux Le Lac (33), Saint-Quentin
(02), Illkirch (67) and Laxou (54). More than 3,000 m2
created in shopping malls during the course of the year.
■ Creation of the company Immochan Hungary.
■ Development of retail parks on the Auchan sites: opening
of 3 Decathlon stores in Budapest, of a DIY centre in
Csömör and of a household electrical appliances centre in
Dunakeszi. Plan for a strip mall (open air, out-of-town retail
park) in Dunakeszi at the beginning of 2006.
■ Creation of 19 shops upon the opening of Solymár.
■ Very low rate of vacant premises in Poland.
■ Nearly 2,800 leases in shopping malls and 370 on
retail parks, at the end of 2005.
■ More than 75,000 m2 of commercial premises
authorised in 2005, on the business parks and in
shopping malls.
Plan for the creation of a “Furniture City” in Melun (77), in
partnership with Ségécé: 31,000 m2 of premises
specialising in fittings for the home.
■ Rolling out of the visual identity created 2 years ago:
■ Work on the improvement of professionalism and on the
consolidation of the teams.
■ Development of retail parks on the Auchan sites:
establishment of specialist centres in Wroclaw, Bialystok
and Zory. In 2006, opening of a strip mall in Bielsko Biala.
■ In 2006, creation of the company Immochan Poland
during the 1st half and renewal of 40% of the leases in the
shopping malls. Opening of a shopping centre in Rzeszow.
■ Creation of 72 shops in Russia, upon the opening of
Auchan Moscow Altufievo. Reinforcement of teams in
terms of property development skills.
adopted by 18 shopping centres by the end of 2005.
MOROCCO www.immochan.com
WESTERN EUROPE
www.immochan.com
12 shopping centres
managed by Immochan, in partnership with ONA
■ Gallerie commerciali Italia (G.C.I.)*: leadership in the
commercial real estate market in Italy. 43 shopping centres
managed: nearly 300,000 m2 of commercial premises in malls.
■ Reinforcement of the teams.
■ Creation of 56 shops when the shopping centre was
opened in Cesano Boscone (Milan).
■ Plans for the opening of regional shopping centres,
notably in Giugliano (Naples) in 2006.
■ In Spain, expansion of the La Laguna mall (Tenerife).
Doubling in size to reach 9,600 m2.
■ Creation of about 40 shops upon the opening of the
hypermarkets in Marjane in Meknès and Derb Sultan
(Casablanca).
ASIA www.immochan.com
32 shopping centres
managed by Immochan
■ 60 shops created in China during the course of the
year: opening of malls in Ningbo and Tianjin, expansion of
Wuxi. 390 shops in total at the end of 2005.
■ In Taiwan, expansion of the mall in Neihu 1 (Taipei):
■ Creation of the company Immochan Portugal, during the
13 shops created.
1st half of 2006. Very low rate of vacant premises.
* G.C.I. held 51% by Immochan International and 49% by Simon
Property Group.
45,000 m2 of commercial premises
created in shopping malls in Europe
and 13,000 m2 in Asia.
Finalisation of the skills reference
system and extension of training.
Banque Accord
« 2005 was a very good year for Banque Accord. Our
net banking income rose by 27%, our net income by
42% and our outstanding credits by 20%. The total
amount paid with Banque Accord cards was also on the
increase by 20%. The year was notable for the integration of the Egg France activities and the repurchase of
the shares in our subsidiary in Portugal from Cofinoga.
4.3
million customers
of which
2.4
million are in France
1,000
employees
(average headcount,
of which
760
are in France
We have also launched in our 7th country, Russia, and
signed new partnership agreements in Hungary, Spain,
Italy and France. For us, 2006 will be the year of electronic banking, with the takeoff of our specialist
CardOps division, new chains conquests and the launch
of an activity in China. »
Jérôme Guillemard, Chairman
6.2 billion
€
paid with the cards
operated by Banque
Accord
(+20% compared with 2004)
Banque Accord
Durable performances
For the 6th consecutive year, in 2005 Banque Accord
maintained its two-figure growth and continued its
development of products, chains and countries. The
operating income rose by 34.9% to 52.5 million euros and
the Net Banking Income by 27%.
refinancing of bilateral loans and the improved availability
of liquid assets. The banking subsidiary of the Group gained
confirmation of its Standard & Poor’s ratings (A- for the
long term and A2 for the short term).
Up by 20% compared with 2004, the total amount paid
with the cards reached 6.2 billion euros. Continuing its
progress, the number of customers came to 4.3 million
card holders, 2.4 million of whom are in France and
1.2 million in Spain. This performance has been achieved
thanks to the innovative recruitment campaigns and to the
development of partnerships with the chains.
A bank close to its customers and
accessible to the greatest possible
number
The mission of Banque Accord is to make access to financial
products and services more democratic. In every country, in
2005 it has continued with its objective of being the least
expensive bank on the market. In a strongly competitive
climate, its bank cards, as much in France as in Italy and,
soon, in Hungary and in Poland, remain the most
competitive on the market, as are its revolving rates and
rates for personal loans. Banque Accord France launched
several campaigns for personal loans at single rates of
2.60% and 2.90%, as well as a new life assurance product,
Accord Avenir.
+450,000
To support the growth of Auchan, Banque Accord has
created its Russian subsidiary: BA Finans. The first
financial product was offered in two Auchan hypermarkets
and a card will complete the range in 2006. Banque
Accord also repurchased its shares in Crediplus from
Cofinoga and now holds 100% of its Portuguese
subsidiary.
+27 %
The year 2005 saw the creation of a new electronic
banking division, Cardops, which will enable the volumes
of transactions to be massed together, thereby achieving
economies of scale. Each subsidiary will thus be able to
benefit from the expertise developed in France.
In order to build on its close relationship with its customers,
Banque Accord is developing banking areas within the
hypermarkets or their shopping malls. After France, in 2006
it will be opening its first areas in Poland and Spain.
The growth of the bank is, furthermore, reflected in the
launch of new direct brands of credit and personal loan.
After the takeover of its card and credit activities at the end
of 2004, in 2005 Egg France took up the name Oney.fr. In
Portugal, the Lyberdade brand was created.
A company open to all
new customers
net banking income
+42 %
net income
Finally, new partnerships have been developed with the
chains: Cityper and Leroy-Merlin in Italy, Norauto,
GrosBill.com and Electro Dépôt in France, Décathlon in
Hungary and Spain, Aki in Spain and Portugal.
To fund its growth, in September Banque Accord carried
out a new bond issue for a sum of 200 million euros. In
addition, at the beginning of the year it signed a
syndicated load for 500 million euros with eight banks to
fund the general needs of the company, including the
Creation, with Finansbank,
of the subsidiary BA Finans,
in Russia.
In 2005, the integration of a proportion of the workforce
of Egg France, in France, and the growth abroad enabled
Banque Accord to pass the 1,000 employees mark, of
whom 600 have been taken on in the last five years. This
rapid expansion of the business has represented significant
investment in human resources, particularly in relation to
career management, training and the detection of
potential. The emphasis has been most especially on
management training: in France, a set of management
benchmarks has been created.
The investment of the business in its teams is shown
equally by an active policy in favour of diversity in its
recruitment policy and in internal promotion. In France, the
workforce brings together about 760 employees of 17
nationalities. This strong commitment by Banque Accord
100% ownership of
Crediplus in Portugal.
Launch of new direct brands:
Oney.fr in France and Lyberdade
in Portugal.
was formalised in 2005 by the signing of the “Charter on
Diversity” with the Alliances association.
Buoyed by the values of the Auchan Group, whose mission
is to give purchasing power to the greatest possible
number of people, Banque Accord is endeavouring to
make access to consumption possible for everyone. In
France, it took part in the “Portable computer for 1 euro per
day” and “Driving licence for 1 euro per day”, campaigns
initiated by the Government.
In addition, acting as a responsible economic player, the
company joined forces in the battle against
overindebtedness. A partnership was signed with the
“Fédération Française des Associations Cresus” (French
Federation of Cresus Associations) which combats
overindebtedness.
Another illustration of the policy of Banque Accord towards
sustainable development in society was its involvement in
France in Microcredit Week, organised by the Adie*. In
2006, Banque Accord will fund the free phone number for
the association and will create a free Visa card aimed at
unemployed members creating new businesses.
PORTUGAL www.crediplus.pt
■ Rise
of more than 9% in its number of customers.
Repurchase from Cofinoga of its share (49%) in
Crediplus, now wholly owned by Banque Accord.
■ Doubling of the workforce. 130 employees (+55%).
■ Launch to the general public of the direct brand
Lyberdade and of a new insurance product.
■ Signing of a partnership with Aki.
■
ITALY www.cartaccord.it
■ New partnerships with the chains: Accord Card issued in
Cityper stores and trial of a personal credit card for Leroy
Merlin.
■ Deployment of the personal loan in Auchan hypermarkets.
POLAND www.swiataccord.pl
■ Opening
www.banque-accord.fr
FRANCE www.oney.fr
■ 2.4
million customers.
Creation of the direct brand, Oney.fr, to replace Egg
France.
■ Banque Accord areas in 8 Auchan hypermarkets.
■ Launch of a new life assurance product, “Accord Avenir”.
■ New partnerships with chains: Norauto, GrosBill.com,
Electro Dépôt and Mutant, a subsidiary of the April Group.
■ Almost 120 employees taken on In 2005.
■ www.banque-accord.fr, 7 th ranked French banking
website according to Médiamétrie (December 2005) on
the basis of the number of single hits.
■ Strong social commitments:
● Partnership with the French Federation of Cresus
Associations to combat overindebtedness.
● Banque Accord national partner in Microcredit Week
organised by the Adie(1).
● Signing of the ”Charter on Diversity“.
■
SPAIN www.accordfin.es
million customers.
with the Décathlon and test launch in 8 Aki
stores.
■ Expansion of services linked to the card: card protection
insurance and Internet telephony product.
■ Launch of the revolving personal loan.
■ Opening of 3 financial areas in Alcampo.
■ 1.2
■ Partnership
Creation of CardOps,
the electronic banking
division of Banque Accord.
of Accord areas in 3 Auchan hypermarkets.
of the Internet site www.swiataccord.pl.
■ Launch of the personal loan and, in 2006, of the Visa
Auchan Bank Card.
■ Creation
HUNGARY www.accord.hu
■ Partnership
with Décathlon.
■ Initiation of the personal loan activity. Three new products:
additional revolving, personal loan and cash loan(2).
of the Accord desk in an Auchan hypermarket.
■ In 2006, launch of the Auchan MasterCard bank card.
■ Trial
RUSSIA
of BA Finans, in partnership with Finansbank.
First offer of credit, in the stores in Khimki and Altufievo.
■ Creation
CHINA
■ Opening
of a representative office in Shanghai.
(1) Association for the right to economic initiative.
(2) Personal loan for a small sum granted in 30 minutes in the store.
Signing of new partnership agreements in
Europe with Décathlon, Norauto and Cityper.
Organisation chart
Legal organisation chart
Operational organisation chart - April 2006
SUPERVISORY
BOARD
HYPERMARKETS
GÉRARD MULLIEZ
FOUNDER, CHAIRMAN,
until June 6th 2006*
VIANNEY MULLIEZ
CHAIRMAN,
after June 6th 2006*
JEAN-BERNARD GUILLEBERT
VICE-CHAIRMAN
THIERRY MULLIEZ
VICE-CHAIRMAN
DANIEL BACROT
FRANÇOIS LECLERCQ
CHRISTOPHE DUBRULLE
Chairman and General Manager
XAVIER DE MÉZERAC
Group Finance
JEAN-ANDRÉ LAFFITTE
Group Management Control
HENRI MATHIAS
Group Support Services
VIANNEY MULLIEZ
Group Development
PHILIPPE SAUDO
Group Human Resources
COUNTRY BOARDS
WESTERN EUROPE
FRANCE
ARNAUD MULLIEZ, Chairman
HENRI MATHIAS, Vice-Chairman
PHILIPPE BAROUKH, General Manager
LUXEMBOURG
PHILIPPE BAROUKH, Chairman
FRANÇOIS REMY, General Manager
SPAIN
FRANCIS LEPOUTRE, Chairman
PATRICK COIGNARD, General Manager
ARNAUD MULLIEZ
LOUIS MULLIEZ
BOARD OF
DIRECTORS
CHRISTOPHE DUBRULLE
CHAIRMAN
BENOIST CIROTTEAU
SUPERMARKETS
BENOIST CIROTTEAU
Chairman and General Manager
PHILIPPE DELALANDE
Finance
JÉRÔME GUILLEMARD
BANQUE ACCORD
JÉRÔME GUILLEMARD
Chairman
DAMIEN GUERMONPREZ
General Manager
NICOLAS DREYFUS
Finance
IMMOCHAN
INTERNATIONAL
VIANNEY MULLIEZ
Chairman
ERIC DELEPLANQUE
General Manager
* Subject to the approval
of the supervisory board
VIANNEY DUMAS
Finance
COUNTRY BOARDS
FRANCE
BENOIST CIROTTEAU, Chairman
DENIS SIMON, General Manager
SPAIN
MIGUEL GANUZA, Chairman
OLIVIER TANGUY, General Manager
COUNTRY BOARDS
FRANCE
JEAN-PIERRE VIBOUD,
General Manager, Banque Accord
SPAIN
THIERRY VINUALEZ,
General Manager, Accordfin
COUNTRY BOARDS
FRANCE
HERVÉ MOTTE,
General Manager, Immochan France
SPAIN
VALENTIN SERRANO,
General Manager, Immochan Spain
PORTUGAL
FRANCIS LEPOUTRE, Chairman
EDUARDO IGREJAS, General Manager
HUNGARY
JEAN MAILLY, Chairman
JEAN-PAUL FILLIAT, General Manager
ITALY
BENOÎT LHEUREUX, Chairman,
Managing Director
PATRICK ESPASA, General Manager
RUSSIA
JEAN MAILLY, Chairman
PATRICK LONGUET, General Manager
AFRICA
CENTRAL AND EASTERN EUROPE
POLAND
PHILIPPE SAUDO, Chairman
FRANÇOIS COLOMBIÉ, General Manager
MOROCCO
TAJEDDINE GUENNOUNI, Chairman of
the Board of Marjane Holding
PHILIPPE LE GRIGNOU, General Manager
ITALY
BENOIST CIROTTEAU, Chairman,
BENOÎT LHEUREUX,
Managing Director
ANTONELLO SINIGAGLIA,
General Manager
POLAND
DENIS SIMON, Chairman
YVES LIERLEY, General Manager
PORTUGAL
DENIS MARDON,
General Manager, Crediplus
POLAND
DENIS VANBESELAERE,
General Manager, Accord Finance
ITALY
BENOÎT LIAGRE,
General Manager, Accord Italia
HUNGARY
BRIGITTE GALLIEZ,
General Manager, Accord Magyarorszàg
ITALY
HANS MAUTNER,
Chairman G.C.I.*
BENOÎT LHEUREUX,
Managing Director, G.C.I.*
EDOARDO FAVRO,
General Manager G.C.I.*
PORTUGAL
MARIO COSTA,
General Manager, Immochan Portugal
RUSSIA
PHILIPPE DELALANDE, Chairman
ALEC PICAPER, General Manager
ASIA
MAINLAND CHINA
AUCHAN
CHRISTIAN CLERC-BATUT, Chairman
BRUNO MERCIER, General Manager
RT MART
PETER HUANG, General Manager
CHRISTIAN CLERC-BATUT, Director
TAIWAN
CHRISTIAN CLERC-BATUT, Chairman
KAUFMAN WEI, General Manager
MOROCCO
NOUREDDINE BENMAKHLOUF,
Chairman of the Board of Acima
GILBERT INFANTÈS, General Manager
RUSSIA
JULIEN CAILLEAU,
General Manager, BA Finans
HUNGARY
MICHEL CHAIZE,
General Manager, Immochan Hungary
POLAND
ANDRÉ-PAUL LECLERCQ,
General Manager, Immochan Poland
* Gallerie Commerciali Italia.
- May 2006.
Redaction: Communication department - Design and production:
Photos: Auchan, P. Gueritot, R. Courtemanche, S. Dhote, G. Piat, C. Waeghemacker.
Communication department in charge of sustainable development 92, rue Réaumur – 75002 Paris
Tel. : +33 (0) 1 58 65 08 08 – Fax : +33 (0) 1 58 65 08 15 – www.auchan.com

- Auchan . com

Transcription

Similar documents

Air freshener MY SHALDAN V6

- Auchan . com

- Auchan . com

activity and corporate social repsonsability report 2014

PASADENA`S NEW LUXURY HOTEL

Investor brochure

Don Morgan (Federal Reserve Bank of New York)

Unique shopping mall with a complex range of home

Klahanie Shopping Center

help your family and friends save big on a new gm

qdoba mexican grill - LMS Commercial Real Estate