Groupe E SA

Fribourg, Switzerland

Groupe E SA

Fribourg, Switzerland
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News Article | May 22, 2017
Site: globenewswire.com

Michel Grass elected Chairman of the Supervisory Board of Groupe BPCE The BPCE Supervisory Board - which met following the Shareholders' Meeting held today and in the presence of the Chairman of the Management Board, François Pérol  - voted to appoint Michel Grass as Chairman of the BPCE Supervisory Board, in addition to his functions as Chairman of the Board of Directors of Banque Populaire Bourgogne Franche-Comté. The Supervisory Board also appointed Nicolas Plantrou as Vice-Chairman of the BPCE Supervisory Board, in addition to his functions as Chairman of the Steering and Supervisory Board of Caisse d'Epargne Normandie. The composition of the Supervisory Board is to remain unchanged until the Shareholders' Meeting of 2021. The Management Board of Groupe BPCE, whose mandate runs until May 2020, also remains unchanged. The Supervisory Board of Groupe BPCE comprises 19 directors, elected for a term of 6 years. In addition to its Chairman, Michel Grass, the other 6 members of the Supervisory Board nominated on the proposal of the Fédération Nationale des Banques Populaires are : In addition to its Vice-Chairman, Nicolas Plantrou, the other 6 members of the Supervisory Board nominated on the proposal of the Fédération Nationale des Caisses d'Epargne are : The three independent directors appointed on the proposal of the Appointments Committee, remain unchanged. They are: The two employee representatives, appointed by the trade unions representing Group employees are: The following also participate in the capacity of non-voting members (censeurs): Michel Grass said: "The strength of the Group's position in financing the French economy and the responsibility it confers upon us must continue to serve as a permanent guideline for our collective actions. Within the strict remit issued to the Chairman of the Supervisory Board, I shall do everything needed to support all of the measures aimed at protecting the interests of our cooperative shareholders who are our customers, together with those of our staff, while helping the Group to progress in all respects and upholding the cooperative values of our networks of regional banks". About Groupe BPCE Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary cooperative commercial banking networks: the network of 15 Banque Populaire banks and the network of 16 Caisses d'Epargne. It also works through Crédit Foncier in the area of real estate financing. It is a major player in Investment Solutions & Insurance, Corporate & Investment Banking and Specialized Financial Services with Natixis. Groupe BPCE, with its 108,000 employees, serves a total of 31.2 million customers and enjoys a strong local presence in France with 8,000 branches and 9 million cooperative shareholders.


News Article | July 20, 2017
Site: www.businesswire.com

Chaque entreprise peut en quelques clics découvrir les offres les plus innovantes et leurs tarifs au sein d’une interface ergonomique et simple d’usage. A propos de Groupe Open Avec 3700 collaborateurs et un chiffre d’affaires de 305 M€ en 2016, Open se positionne comme un acteur majeur des services du numérique et intervient principalement en France et à l’international en Belgique, aux Pays Bas, Luxembourg et en Chine. Open accompagne au quotidien les entreprises et les organisations dans leur transformation industrielle et digitale avec une offre de bout en bout, IT et digitale, efficace sur toute la chaine de valeurs des entreprises. Son objectif : Transformer les systèmes d’information de ses clients pour répondre à leurs nouveaux Business Model digitaux avec une garantie de stabilité, de contrôle et de coûts maîtrisés en répondant aux enjeux de ‘Time to Market’, d’agilité, de rapidité et d’expérimentations. Open inscrit sa démarche dans une logique d’avenir au travers de la mise en oeuvre de ses valeurs d’entreprise : Pertinence, Audace, Ethique & Responsabilité, Passion et Engagement. Pour en savoir plus sur le groupe Open : www.open.global


News Article | May 9, 2017
Site: globenewswire.com

RESULTS[1] FOR THE FIRST QUARTER OF 2017 OF GROUPE BPCE Good performance achieved by all the business lines in the first quarter of 2017 Attributable net income of €948m[2], up by 8.2% EXCELLENT LEVEL OF ACTIVITY ACHIEVED BY THE BUSINESS LINES Asset management: return to positive inflows in the USA Corporate & Investment Banking: greater momentum enjoyed by Global markets and increased contribution from the international platforms               INCOME BEFORE TAX UP BY 11.6%[4] YEAR-ON-YEAR Sharp increase in the CIB division's contribution to income before tax: +81.4%, to €422m2 Gross operating income4: +11.9% year-on-year (despite the higher contribution to the SRF) Cost of risk stable at 22bp, lower than the business cycle average (30 to 35bp) Operating expenses down in the retail banking networks: if transformation expenses are excluded, the cost base changed as follows: Banque Populaire network -0.1% and Caisse d'Epargne network -1.7% Mergers: 31 regional banks in May 2017 vs. 35 one year ago CET1 ratio of 14.4%[5], up 10bp in Q1-17 TLAC ratio of 19.7%5 On May 9, 2017, the Supervisory Board of Groupe BPCE convened a meeting chaired by Pierre Valentin to examine the Group's financial statements for the first quarter of 2017. François Pérol, Chairman of the Management Board of Groupe BPCE, said: "Our first quarter results confirm the strength of our fundamentals and the resilience of our universal banking model. Thanks to business growth in all our major business lines, our revenues have increased by 4.9%4 with, in particular, 4.5% growth in the loan outstandings position of our Retail Banking division, strong development of our insurance business, the extremely significant expansion of our capital market activities this quarter, and the return of our asset management business to positive growth. Closely managed operating expenses and a new decline in the cost of risk have allowed our net income to increase by 8.2%2."    1. CONSOLIDATED RESULTS[6] OF GROUPE BPCE FOR THE FIRST QUARTER OF 2017 Groupe BPCE has published robust results for the first quarter of 2017, with a 4.9%4 increase in its revenues as a whole, emphasizing the good performance of the Group's three business divisions: Retail Banking, Investment Solutions, Corporate & Investment Banking (see below). Despite the low interest-rate environment, the revenues posted by the Retail Banking division only declined by 0.8% (excluding changes in provisions for home purchase savings schemes) thanks to strong business dynamics. Both the Corporate & Investment Banking and Investment Solutions divisions posted extremely good results, with 25.9% and 8.1% growth in revenues respectively. In this context, the Group's results improved still further in the first quarter of 2017: net income attributable to equity holders of the parent rose 8.2% to reach a total of 948 million euros2. Groupe BPCE boasts a robust, enhanced financial structure with a fully loaded TLAC ratio equal to 19.6% at March 31, 2017, exceeding the 19.5% required at the beginning of 2019. In the first quarter of the year, Groupe BPCE was also able to enjoy strong momentum in its operational excellence initiative pending the launch of the next strategic plan for 2018-2020 to be presented at the Investor Days event scheduled for November 20, 2017 for Natixis and November 29, 2017 for Groupe BPCE. Changes in segment reporting in the first quarter of 2017 Starting in the first quarter of 2017, information about the Group's different divisions is presented as follows: A Corporate center division, which includes the Corporate Center as such (BPCE SA and the Corporate center division of Natixis), Equity interests, and Other activities (cross-functional activities, investment activities, real-estate subsidiaries, etc.). Consolidated results for the first quarter of 2017: net income attributable to equity holders of the parent equal to 948 million euros2, up 8.2% The net banking income[7] of Groupe BPCE for the first quarter of 2017 came to 6,069 million euros, equal to an increase of 4.9% compared with the first quarter of 2016 thanks to extremely strong growth in revenues posted by the Corporate & Investment Banking division (+25.9%), a sharp rebound in the Investment Solutions division (+8.1%) driven by Asset management in Europe and strong momentum in Insurance activities, and a limited decline in revenues posted by the Retail Banking division (-0.8%, excluding changes in provisions for home purchase savings schemes). Retail Banking revenues only suffered a limited dip thanks to the strong resilience of the net banking income generated by the Banque Populaire and Caisse d'Epargne networks in a business environment characterized by continuous pressure on net interest margins, a favorable trend in commissions as well as net banking income generated by the Specialized financing business line (now included in the Retail Banking division) which enjoyed growth in all its different segments. The Group's operating expenses7 came to 4,504 million euros for the first quarter of 2017, representing year-on-year growth of 2.6%. This increase in expenses can be explained by a number of reasons, notably the increase in different regulatory contributions (accounted for in the Corporate center division). If we exclude the increase in the estimated contribution to the SRF of 256 million euros in the first quarter of 2017 (against 229 million euros in the first quarter last year), the Group's operating expenses increased by 2.0%. The operating expenses of the Retail Banking division have declined by 0.5%7, while the expenses of the Investment Solutions and Corporate & Investment Banking divisions experienced a moderate increase given the buoyant growth in their activities. The Group's gross operating income7 came to 1,565 million euros, up by 11.9% compared with the first quarter of 2016. The Group's cost of risk stood at 366 million euros7 for the first quarter of 2017. It was down 1.6%7 compared with the first quarter of 2016, reaching 22 basis points[8] in the first quarter of 2017 (against 24 basis points in the first quarter of 2016). This low level is equivalent to the average annual cost of risk observed in 2016. The ratio of non-performing loans to gross loan outstandings has declined, falling from 3.6% at March 31, 2016 to 3.4% at March 31, 2017, and the impaired loans coverage ratio (including guarantees related to impaired outstandings) came to 82.5% at March 31, 2017 (against 82.3% at March 31, 2016). The Group's income before tax7 has risen by a substantial 11.6% to reach 1,274 million euros in the first quarter of 2017. The Group's income tax7 charge comes to 497 million euros, up 11.1% compared with the first quarter of 2016. The tax rate is structurally high in the first quarter of the year (41.6% in the first quarter of 2017 and 40.6% in the same period of 2016) as the contribution to the Single Resolution Fund (SRF) and the tax on systemic banking risks (TSB) are not deductible from taxable income. Net income attributable to equity holders of the parent7 has risen by 9.7% compared with the first quarter of 2016 to reach a total of 664 million euros. After restatement to account for the impact of IFRIC 21, net income attributable to equity holders of the parent7 stands at 948 million euros, up by 8.2%, the cost/income ratio7 has declined by 1.6 percentage points to 68.3% and the Group's ROE7 comes to 6.2%, stable on a year-on-year basis. After accounting for non-economic and exceptional items and cancelling restatements made to account for the impact of IFRIC 21, published net income attributable to equity holders of the parent stands at 623 million euros, up by 8.8%. CONSOLIDATED RESULTS OF GROUPE BPCE FOR THE FIRST QUARTER OF 2017 Q1-2016 pro forma, cf. the notes on methodology at the end of this press release 2. HIGH LEVEL OF CAPITAL ADEQUACY RATIOS PUTS THE GROUP IN A STRONG POSITION TO MEET FUTURE REGULATORY REQUIREMENTS The CET1[9] ratio of Groupe BPCE continued to progress in the first quarter of 2017, reaching a level estimated at 14.4% at March 31, 2017, up from 14.3% at December 31, 2016, equal to an increase of 10 basis points. The increase in the CET19 ratio reflects the continuous generation of Common Equity Tier 1 thanks to the Group's policy regarding retained earnings (+13 basis points since December 31, 2016) and the issue of cooperative shares (+15 basis points since December 31, 2016). The total capital ratio9, with a level estimated at 18.7% at March 31, 2017, has stabilized vis-à-vis December 31, 2016 with a 190 basis-point rise since January 1st, 2016 on a pro forma basis. The total capital ratio without transitional measures, which came to an estimated 18.7% at March 31, 2017, is pursuing its upward trajectory with an increase of 20 basis points since the beginning of 2017 and an increase of 200 basis points since January 1st, 2016 pro forma. Total capital9 increased by 0.3 billion euros in the first quarter of 2017, rising from 73.0 billion euros at December 31, 2016 to an estimated 73.3 billion euros at March 31, 2017. This growth in the Group's total capital is mostly related to the increase in CET1 (thanks, in particular, to retained earnings) which amounted to an estimated 56.5 billion euros at March 31, 2017 vs. 56.0 billion euros at December 31, 2016. Risk-weighted assets remain under tight control, at 391 billion euros at March 31, 2017, stable compared with their level at December 31, 2016 (at current exchange rates). 2.2 TLAC ratio required for early 2019 attained as of the first quarter of 2017 Total loss-absorbing capacity[10] (TLAC) stood at 76.9 billion euros9 at the end of March 2017. The TLAC ratio9 (expressed as a percentage of risk-weighted assets), which stood at an estimated 19.7% at March 31, 2017, is already higher than the TLAC level of 19.5% required at the beginning of 2019. In order to remain compliant with this requirement, Groupe BPCE plans to issue senior non-preferred debt of between 1.5 and 3.5 billion euros per year, and does not anticipate having recourse to the fixed portion of senior preferred debt. In view of Groupe BPCE's TLAC policy, it is now more likely that the call options attached to former additional Tier-1 capital instruments issued by BPCE without step-up clauses will be exercised subject, however, to obtaining prior approval from the banking supervisory authorities. At March 31, 2017, the leverage ratio9,[11] was equal to 5.0%, stable compared with the December 31, 2016 ratio. At March 31, 2017, Groupe BPCE's total liquidity reserves[12] stood at 215 billion euros at March 31, 2017, including 61 billion euros in available assets eligible for central bank funding, 69 billion euros in securities eligible for the Liquidity Coverage Ratio (LCR), and 85 billion euros in cash placed with central banks. At March 31, 2017, the total liquidity reserves of Groupe BPCE covered 154% of total short-term funding outstandings and medium-/long-term debt maturing within one year or less (against 158% at December 31, 2016). The LCR remained in excess of 110% at March 31, 2017. 2.4 A wholesale medium-/long-term funding plan for 2017 already 60% completed as at April 30, 2017 Groupe BPCE's ability to access major debt markets allowed it to raise medium-/long-term (MLT) resources for an aggregate total of 11.9 billion euros at April 30, 2017, equal to 60% of the 2017 program (20 billion euros). This total includes an issue of 1.85 billion dollars raised in a pre-funding operation for 2017, completed on November 29, 2016. The average maturity at issue stands at 8.6 years and the average interest rate is equal to mid-swap +32 basis points. During this period, 58% of MLT funding was completed in the form of public bond issues and 42% in the form of private placements. The 11.9 billion euros raised as at April 30, 2017 can be broken down as follows: During this period, Groupe BPCE continued to raise substantial funds thanks to the considerably broad diversification of its investor base. As a result, 54% of the bonds issued in the unsecured segment were placed in currencies other than the euro (notably 34% in US dollars and 15% in Japanese yen). 3. RESULTS[13] OF THE BUSINESS LINES: EXCELLENT LEVEL OF ACTIVITY ACHIEVED BY THE BUSINESS LINES The contribution of the business lines to the results of Groupe BPCE in the first quarter of 2017 can be broken down as follows (excluding the Corporate center division): The Retail Banking division groups together the activities pursued by the Banque Populaire and Caisse d'Epargne retail banking networks, the Specialized Financial Services of Natixis and the activities of the Other networks comprised of Crédit Foncier, Banque Palatine and BPCE International. The Retail Banking division maintained strong commercial momentum in the first quarter of 2017. With new loan production in excess of 33 billion euros in the first quarter of this year, the result of strong growth in all business segments, the Retail Banking division is playing an active role in financing the French economy: increase in home loans and equipment loans of 86% and 35% respectively and 22% growth in consumer loans. Loan outstandings enjoy regular growth, reaching an aggregate total of 521 billion euros at March 31, 2017, equal to growth of 4.5% since March 31, 2016. Total deposits & savings of the Retail Banking division came to 672 billion euros at March 31, 2017, up 2.0% since March 31, 2016 (representing an increase of more than 13 billion euros). This growth is largely the result of an increase in on-balance sheet deposits & savings driven, in particular, by strong growth in demand deposits (+13.7%). Synergies between the Retail Banking activities and the business lines of Natixis continued to be developed in the first quarter of 2017: Retail Banking: financial results for the first quarter of 2017 The net banking income of the Retail Banking division came to 4,122 million euros (excluding changes in provisions for home purchase savings schemes) in the first quarter of 2017, representing a marginal decline of 0.8% over the previous 12-month period. The environment characterized by historically low interest rates continued to depress net interest income. Commissions have risen, buoyed up by growth in the customer base and by the wider use of banking products and services, as have commissions related to payment processing. Commissions related to early loan redemption also enjoyed substantial growth during the first quarter of the year. Operating expenses (excluding exceptional items[14]) came to 2,814 million euros for the first quarter of 2017, marginally down compared with the first quarter of 2016 (-0.5%). Gross operating income (excluding exceptional items) remained virtually unchanged (-0.1%) in the first quarter of 2017 and stands at 1,295 million euros. The cost of risk, which reached 304 million euros in the first quarter of 2017, has risen by 8.3% compared with the first quarter of 2016 (this increase is chiefly due to BPCE International while the cost of risk has declined in the Banque Populaire and Caisse d'Epargne retail banking networks). The contribution of the Retail Banking division to the Group's income before tax (excluding exceptional items) came to 1,003 million euros in the first quarter of 2017, down 4.0% compared with the same period in 2016. Restated to reflect the impact of IFRIC 21 and excluding exceptional items, income before tax stood at 1,125 million euros in the first quarter of 2017, translating a decline of 4.1% compared with the first quarter of 2016, while the cost/income ratio rose marginally (+0.1 percentage point) to 65.5%. If account is taken of exceptional items and the restatement of the impact of IFRIC 21 is cancelled, published income before tax came to a total of 973 million euros in the first quarter of 2017, down by 5.4% compared with the first quarter of 2016. 3.1.1 Banque Populaire: net banking income driven by the dynamism of commissions The Banque Populaire network comprises the 15 Banque Populaire banks, including CASDEN Banque Populaire and Crédit Coopératif and their subsidiaries, Crédit Maritime Mutuel and the Mutual Guarantee Companies. The Banque Populaire retail banking network expanded its customer base in the first quarter of 2017 with a 20% increase in the number of new relationships forged with individual customers (+137,000 customers). The Banque Populaire network pursued its strategy of increasing the delivery of banking services and products to its customers resulting, at the end of March 2017, in 2.6% year-on-year growth in the number of principal active customers aged 25 or more using banking services (or +84,300 customers including +78,000 customers using banking services). Loan outstandings came to 187 billion euros at the end of March 2017, representing 7.1% growth compared to March 31, 2016. Deposits & savings stood at 246 billion euros at March 31, 2017, equal to growth of 4.3% compared with March 31, 2016.                             Insurance activities continued to grow with a year-on-year increase in the portfolio of 10.0% for P&C/non-life insurance and of 8.3% for provident and health insurance. Net banking income stood at 1,614 million euros in the first quarter of 2017 (excluding changes in provisions for home purchase savings schemes), up 1.3% compared with the first quarter of 2016. This progress is the result, in particular, of an 8.3% decrease in customer net interest income (excluding changes in provisions for home purchase savings schemes), a substantial increase in early loan redemption fees (+61.4%), and a 6.3% rise in other commissions. Operating expenses (excluding exceptional items), which came to 1,107 million euros in the first quarter of 2017, are marginally down (-0.1%) compared with the same period in 2016. Gross operating income (excluding exceptional items) stood at 499 million euros in the first quarter of 2017, up 5.2% compared with the first quarter of last year. The cost of risk, which amounted to 105 million euros in the first quarter of 2017, enjoyed a significant drop of 19.9% compared with the first quarter of 2016. Income before tax (excluding exceptional items) came to 404 million euros in the first quarter of 2017, equal to growth of 8.5% compared with the first quarter of 2016. Restated to reflect the impact of IFRIC 21 and excluding exceptional items, income before tax stands at 449 million euros, up 7.3%, and the cost/income ratio declined by 1.0 percentage point to 66.1% in the first quarter of 2017. After taking account of exceptional items and the cancellation of the restatement of the impact of IFRIC 21, published income before tax came to 393 million euros in the first quarter of 2017, up 7.2% compared with the first quarter of 2016. 3.1.2 Caisse d'Epargne: commercial activities buoyed up by new customer influx and the take-up of banking services, leading to growth in commissions In the first quarter of 2017, the Caisse d'Epargne network comprised the 17 individual Caisses d'Epargne along with their subsidiaries. The Caisse d'Epargne Hauts de France, created from the merger between the Caisse d'Epargne Picardie and the Caisse d'Epargne Nord France Europe on May 1st, 2017, takes to 16 the number of Caisses d'Epargne as of this date. The strategy consisting in delivering banking services to the individual customers of the Caisse d'Epargne retail banking network continued during the first quarter of 2017 and led to 2.3% growth in the number of principal active customers aged 25 or more, i.e. 120,500 additional customers (of which 102,000 customers using banking services). In the professional customers market segment, the strategy aimed at attracting new customers made it possible to increase the number of active customers by 7.0% (+12,500 clients in the space of a year). In the corporate customer segment, the number of active customers increased by 8.7% (+1,400 customers). Loan outstandings stood at 240 billion euros at March 31, 2017, up 6.2% compared with March 31, 2016. Deposits & savings came to 404 billion euros at March 31, 2017. This figure represents a 1.1% increase over their level at March 31, 2016. The Caisse d'Epargne retail banking network saw significant expansion in its insurance activities, leading to 6.9% growth in its portfolio of P&C/non-life insurance contracts and 11.6% growth in provident and health insurance cover. Net banking income stood at 1,820 million euros in the first quarter of 2017 (excluding changes in provisions for home purchase savings schemes), down 2.9% compared with the first quarter of 2016. This change is the result, in particular, of a 10.5% reduction in customer net interest income (excluding changes in provisions for home purchase savings schemes), a significant rise in early loan redemption fees (+50.6%) and a 2.5% increase in other commissions. Operating expenses (excluding exceptional items) came to a total of 1,222 million euros in the first quarter of 2017, down 1.7% compared with the same period in 2016. Gross operating income (excluding exceptional items) stood at 594 million euros in the first quarter of 2017, down 2.6% compared with the first quarter of 2016. The cost of risk, which came to 81 million euros for the first quarter of 2017, is 4.5% lower than in the first quarter of 2016. Income before tax (excluding exceptional items) amounted to 513 million euros in the first quarter of 2017, down 2.0% on a year-on-year basis. When restated to reflect the impact of IFRIC 21 and excluding exceptional items, income before tax for the quarter stands at 564 million euros, down 2.2%, and the cost/income ratio is up by a 0.3 percentage point, at 64.5% for the first quarter of the year. After accounting for exceptional items and cancelling restatements made to account for the impact of IFRIC 21, published income before tax comes to 495 million euros for the first quarter of 2017, down 3.5% compared with the same period in 2016. 3.1.3 Specialized Financial Services: net banking income stands up well The Specialized Financial Services (SFS) division of Natixis includes eight activities organized within two business lines: Specialized financing (factoring, sureties & financial guarantees, consumer finance, lease financing, film industry financing) and Financial services (employee savings plans, payments, securities services). Net banking income stood at 344 million euros in the first quarter of 2017, virtually unchanged (+0.4%) compared with the first quarter of 2016. More particularly, the net banking income generated by the Specialized financing business line achieved year-on-year growth of 2% driven by Consumer finance (+2%), Factoring (+4%) and Lease financing (+5%). Operating expenses amounted to 231 million euros in the first quarter of 2017, up 2.7% compared with the first quarter of 2016. This increase is due to the inclusion of Groupe BPCE's payment structures within Natixis. Gross operating income came to 113 million euros in the first quarter of 2017, down 4.0% compared with the first quarter of 2016. The cost of risk, which came to 21 million euros for the first quarter of 2017, increased by a significant 65.9% versus the same period in 2016. This deterioration is chiefly due to the Lease financing activity (unfavorable basis of comparison) and the Consumer finance business (migration toward a new recovery system). Return to normal is expected in the second quarter of 2017. Income before tax amounted to 92 million euros in the first quarter of 2017, down 12.5% over a 12-month period. Restated to account for the impact of IFRIC 21, income before tax for the quarter stands at 99 million euros, representing a decline of 12.6%, while the cost/income ratio increases by a 1.8 percentage point to 65.2% for the first quarter of 2017. Figures specifying the contribution to Groupe BPCE are different from those published by Natixis. For a more detailed analysis of the business lines and results of Natixis, please refer to the press release published by Natixis that may be consulted online at www.natixis.com. The Other networks business line is chiefly comprised of the activities pursued by Crédit Foncier, Banque Palatine, and BPCE International. Crédit Foncier is the principal entity contributing to the Real estate Financing business line. Aggregate new loan production remained at a good level, comparable to that of the 4th quarter of 2016, with 3.2 billion euros in the first quarter of 2017 versus 2.1 billion euros in the same period last year. Home loans granted to individual customers accounted for 2.4 billion euros in the aggregate new loan production figure. At the same time, and chiefly owing to the high rate of early loan redemptions noted over the past nine months, Crédit Foncier has experienced a gradual decline in its loan outstandings position. As a result, loan outstandings stood at 80.7 billion euros at March 31, 2017 against 84.6 billion euros at March 31, 2016. Against a background of low interest rates and more intense competition, the contribution made by Crédit Foncier to the Group's income before tax has declined, falling from 39 million euros in the first quarter of 2016 (pro forma) to 12 million euros in the first quarter of this year. This downward trend should be viewed in the light of a 10.7% decline in net banking income as a result of early loan redemption and the booking in the first quarter of 2017 of a provision related to a retirement forecasting agreement; indeed, within the framework of a new operational efficiency plan, five agreements were signed at the beginning of the year with trade union organizations. Crédit Foncier is also pursuing its policy aimed at substantially cutting its costs. As a result, operating expenses - restated to account for the provision booked regarding the retirement forecasting agreement - declined by almost 7% in the first quarter of 2017. The average loan outstandings position has increased to stand at 8.6 billion euros (against 8.2 billion euros in the first quarter of 2016). In line with the policy to manage the cost of resources, the average level of deposits & savings has declined to 16.6 billion euros (against 17.7 billion euros in the first quarter of 2016). The contribution made by Banque Palatine to the Group's income before tax came to 18 million euros in the first quarter of 2017 against 14 million euros in the same period of 2016 on a pro forma basis. This increase is related to an improvement in the cost of risk; the net banking income and operating expenses, for their part, remain stable overall. BPCE International represents all the international subsidiaries of Groupe BPCE, with the exception of Natixis. Aggregate loan outstandings stand at 5.5 billion euros (against 5.8 billion euros in the first quarter of 2016). Deposits & savings amount to 5.0 billion euros (against 5.3 billion euros in the first quarter of 2016). The contribution of BPCE International to the Group's income before tax was negative in the first quarter of 2017 at -37 million euros. This sharp decline is due to the booking of additional provisions on loan portfolios in Tunisia. 3.2 Investment Solutions: continued strong momentum enjoyed by Insurance activities and return to positive inflows in the USA The Investment Solutions business line includes the Asset management, Private banking and Insurance activities. Net banking income came to 891 million euros in the first quarter of 2017, up 8.1% compared with the first quarter of 2016. This sharp recovery can be explained by the strong momentum achieved by Asset management activities in Europe and by Insurance. Operating expenses (excluding exceptional items) came to 625 million euros in the first quarter of 2017, up 5.9% compared with the same period in 2016. Gross operating income (excluding exceptional items) stood at 266 million euros in the first quarter of 2017, up 13.6% compared with the same period in 2016. The cost of risk is zero, as in the first quarter of 2016. Income before tax (excluding exceptional items) stood at 280 million euros in the first quarter of 2017, up 8.4% year-on-year. If exceptional items are excluded, and after restating to account for the impact of IFRIC 21, income before tax came to 294 million euros in the first quarter of 2017, up 9.1% over the 12-month period, and the cost/income ratio improved by 1.6 percentage points, to 68.6% in the first quarter of 2017. After cancelling restatements made to account for the impact of IFRIC 21 and exceptional items, the quarter's published income before tax stands at 259 million euros, up 0.6%. Figures specifying the contribution to Groupe BPCE are different from those published by Natixis. For a more detailed analysis of the business lines and results of Natixis, please refer to the press release published by Natixis that may be consulted online at www.natixis.com. The Corporate & Investment Banking division includes the Global markets and Global finance & Investment banking activities of Natixis. Net banking income rose 25.9% in the first quarter of 2017 to reach a total of 984 million euros. If the CVA/DVA desk is excluded, net banking income rose by 20% on a year-on-year basis driven in particular, by the increased contribution from the international platforms. Operating expenses came to 563 million euros in the first quarter of 2017, up 10.0% compared with the first quarter of 2016. The increase in fixed costs is limited to 4%. Gross operating income amounted to 421 million euros in the first quarter of 2017, up 56.1% compared with the first quarter of 2016. The cost of risk, which stood at 29 million euros for the first quarter of 2017, has declined by a total of 58.9% compared with the first quarter of 2016. Income before tax stood at 394 million euros in the first quarter of 2017. It has almost doubled in the space of one year (+95.4%). When restated to account for the impact of IFRIC 21, the income before tax for the quarter comes to 422 million euros, equal to growth of 81.4%, while the cost/income ratio improved by 7.1 percentage points, to 54.4%, for the first quarter of 2017. Figures specifying the contribution to Groupe BPCE are different from those published by Natixis. For a more detailed analysis of the business lines and results of Natixis, please refer to the press release published by Natixis that may be consulted online at www.natixis.com. Q1-16 results are presented pro forma (cf. notes on methodology at the end of this press release) For further details about the financial results for the first quarter 2017, please consult the Investors/Results section of the corporate website www.groupebpce.fr The quarterly financial statements of Groupe BPCE for the period ended March 31, 2017 approved by the Management Board at a meeting convened on May 2, 2017, were verified and reviewed by the Supervisory Board at a meeting convened on May 9, 2017. The financial results contained in this presentation have not been reviewed by the statutory auditors. Presentation of 2016 pro-forma quarterly results The segment information was modified as of Q1-17, with the creation of the Retail Banking division, which includes the Banque Populaire and Caisse d'Epargne retail banking networks, the Specialized Financial Services division of Natixis and the Other networks division (Crédit Foncier, Banque Palatine and BPCE International). The SFS division includes two business lines: Specialized financing (factoring, sureties & financial guarantees, lease financing, consumer finance) and Financial services (payments, employee savings plans, and securities services), which are central to the Group's retail banking networks and at the service of their continuing growth. The minority equity interest in CNP Assurances, consolidated using the equity method and previously included for reporting purposes within the Commercial Banking & Insurance division, has been transferred to the Corporate center division. The IFRS 9 standard adopted in November 2016 permits the early adoption - starting with the financial year ended on Dec. 31, 2016 - of regulatory provisions governing the bank's own credit risk, to the effect that all changes will henceforth be recorded in shareholders' equity and no longer as previously in the income statement. The first three quarters of 2016 have been restated accordingly. When the Q1-16 results were published, the amount recognized as the Group's contribution to the Single Resolution Fund was based on an estimate. Following notification of the actual amount of the contribution in Q2-16, the amount of the SRF recognized in Q1-16 has been readjusted. Non-economic and exceptional items The non-economic and exceptional items and the reconciliation of the restated income statement with the income statement published by Groupe BPCE are specified in the table above. The Group has launched a number of transformation operations helping to simplify its organizational structure and to generate synergies. The resulting transformation costs (restructuring expenses specific to projects for the combination/merger of entities and the migration to existing IT platforms) have been isolated on a retrospective basis as of Q2-16. Restatement of the impact of IFRIC 21 The results, cost/income ratios and ROE, after being restated to account for the impact of IFRIC 21, are calculated on the basis of 1/4 of the amount of taxes and contributions resulting from the interpretation of IFRIC 21 for a given quarter, or 1/2 of the amount of taxes and contributions resulting from the interpretation of IFRIC 21 for a 6-month period. In practice, for Groupe BPCE, the principal taxes concerned by IFRIC 21 are the company social solidarity contribution (C3S) and contributions and levies of a regulatory nature (systemic risk tax levied on banking institutions, contribution to ACPR control costs, contribution to the Single Resolution Fund and to the Single Supervisory Mechanism). Net banking income Net customer interest income, excluding regulated home savings schemes, is computed on the basis of interest earned from transactions with customers, excluding net interest on centralized savings products (Livret A, Livret Développement Durable, Livret Epargne Logement passbook savings accounts) in addition to changes in provisions for regulated home purchase savings schemes. Net interest on centralized savings are assimilated to commissions. Operating expenses The operating expenses correspond to the aggregate total of the "Operating Expenses" (as presented in the Group's registration document, note 6.6 appended to the consolidated financial statements of Groupe BPCE) and "Depreciation, amortization and impairment for property, plant and equipment and intangible assets." Cost of risk The cost of risk is expressed in basis points and measures the level of risk per business line as a percentage of the volume of loan outstandings; it is calculated by comparing net provisions booked with respect to credit risks of the period to gross customer loan outstandings at the beginning of the period. Business line performance presented using Basel 3 standards The accounting ROE of Groupe BPCE, is the ratio between the following items: Net income attributable to equity holders of the parent restated to account for the interest expense related to deeply subordinated notes classified as equity and for non-economic and exceptional items Equity attributable to equity holders of the parent restated to account for the deeply subordinated notes classified as equity and for unrealized gains and losses The normative ROE of the business lines (Retail Banking; Investment Solutions and Corporate & Investment Banking), is the ratio between the following items: Business line contributory net income attributable to equity holders of the parent, less interest (computed at the standard rate of 3%) paid on surplus equity compared with normative capital and restated to account for non-economic and exceptional items Normative capital adjusted to reflect goodwill and intangible assets related to the business line Normative capital is allocated to Groupe BPCE business lines on the basis of 10% of Basel-3 average risk-weighted assets. Capital adequacy Common Equity Tier 1 is determined in accordance with the applicable CRR/CRD IV rules; fully-loaded equity is presented without the application of transitional measures, except for the restatement of deferred tax assets (DTA) on tax loss carryforwards and pro forma of the additional phase-in of the stock of DTA in accordance with regulation 2016/445. Additional Tier-1 capital takes account of subordinated debt issues that have become non-eligible and subject to ceilings at the phase-out rate in force. The leverage ratio is calculated using the rules of the Delegated Act published by the European Commission on October 10, 2014, without transitional measures, after restating to account for deferred tax assets on tax loss carryforwards. Securities financing operations carried out with clearing houses are offset on the basis of the criteria set forth in IAS 32, without consideration of maturity and currency criteria. Account has been taken in the total leverage exposure of savings deposits centralized with the Caisse des Dépôts et Consignations since Q1-16. Total loss-absorbing capacity The amount of liabilities eligible for inclusion in the numerator used to calculate the Total Loss-Absorbing Capacity (TLAC) ratio is determined on the basis of our understanding of the Term Sheet published by the FSB on November 9, 2015: "Principles on Loss-Absorbing and Recapitalization Capacity of G-SIBs in Resolution." This amount is comprised of the following 4 items: >Common Equity Tier 1 in accordance with the applicable CRR/CRD IV rules, >Additional Tier-1 capital in accordance with the applicable CRR/CRD IV rules, >Tier-2 capital in accordance with the applicable CRR/CRD IV rules, >Subordinated liabilities not recognized in the capital mentioned above and whose residual maturity is greater than 1 year, namely: Eligible amounts differ slightly from the amounts adopted for the numerator of the capital adequacy ratios; these eligible amounts are determined using the principles defined in the Term Sheet published by the FSB on November 9, 2015. Liquidity Total liquidity reserves include: >Central bank-eligible assets include: ECB-eligible securities not eligible for the LCR, taken for their ECB valuation (after ECB haircut), securities retained (securitization and covered bonds) that are available and ECB-eligible taken for their ECB valuation (after ECB haircut) and private receivables available and eligible for central bank funding (ECB and Federal Reserve), net of central bank funding. >LCR eligible assets comprising the Group's LCR reserve taken for their LCR valuation. >Liquid assets placed with central banks (ECB and the Federal Reserve), net of US Money Market Funds deposits and to which fiduciary money is added. Short-term funding corresponds to funding with an initial maturity of less than or equal to 1 year, and the short-term maturities of medium-/long-term debt correspond to debt with an initial maturity date of more than 1 year maturing within the next 12 months. The Group's LTD ratio (customer loan-to-deposit ratio) is the ratio between customer loans and centralized regulated passbook savings accounts in the numerator, and customer deposits in the denominator. The scope of the calculation excludes SCF (Compagnie de Financement Foncier, the Group's société de crédit foncier, a French covered bond issuer). These items are taken from the Group's accounting balance sheet after accounting for the insurance entities using the equity method. Customers' deposits are subject to the following adjustments: >Addition of security issues placed by the Banque Populaire and Caisse d'Epargne retail banking networks with their customers, and certain operations carried out with counterparties comparable to customer deposits >Withdrawal of short-term deposits held by certain financial customers collected by Natixis in pursuit of its intermediation activities. Loan outstandings and deposits & savings Restatements regarding transitions from book outstandings to outstandings under management (loans and deposits & savings) are as follows: >Deposits & savings: the scope of outstandings under management excludes debt securities (certificates of deposit and savings bonds) >Loan outstandings: the scope of outstandings under management excludes securities classified as customer loans and receivables and other securities classified as financial operations. About Groupe BPCE Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary cooperative commercial banking networks: the network of 15 Banque Populaire banks and the network of 16 Caisses d'Epargne. It also works through Crédit Foncier in the area of real estate financing. It is a major player in Investment Solutions & Insurance, Corporate & Investment Banking and Specialized Financial Services with Natixis. Groupe BPCE, with its 108,000 employees, serves a total of 31.2 million customers and enjoys a strong local presence in France with 8,000 branches and 9 million cooperative shareholders. [1] Q1-16 pro forma (cf. the note on methodology at the end of this press release) ; unless specified to the contrary, all changes use the same reference base of March 31, 2016 [2] Excluding non-economic and exceptional items and after restating to account for the impact of IFRIC 21 [3] Entities included: CNP Assurances, Natixis Assurances, Prépar vie (gross inflows from the Banque Populaire and Caisse d'Epargne retail banking networks) [5] Estimate at March 31, 2017 - CRR/CRD  IV without transitional measures (except for deferred tax assets on tax loss carryforwards); additional Tier-1 capital takes account of subordinated debt issues that have become ineligible and capped at the phase-out rate in force [6] Q1-16 pro forma (cf. the note on methodology at the end of this press release) ; unless specified to the contrary, all changes use the same reference base of March 31, 2016 [7] Excluding non-economic and exceptional items (presented at the end of this press release) [8] Cost of risk expressed in annualized basis points on gross customer outstandings at the beginning of the period [9] CRR/CRD IV without transitional measures (except for deferred tax assets on tax loss carryforwards - pro forma of the additional phase-in of the stock of DTA in accordance with regulation 2016/445 for periods prior to December 31, 2016); additional Tier-1 capital takes account of subordinated debt issues that have become ineligible and capped at the phase-out rate in force [10] According to the term sheet published by the Financial Stability Board on the "Total Loss-Absorbing Capacity" dated November 9, 2015 [11] Estimate at March 31, 2017 calculated using the rules of the Delegated Act published by the European Commission on October 10, 2014 [13] Q1-16 pro forma (cf. the note on methodology at the end of this press release); unless specified to the contrary, all changes use the same reference base of March 31, 2016 [14] The exceptional items correspond to transformation costs (cf. Notes on methodology at the end of this press release)


News Article | June 22, 2017
Site: globenewswire.com

Today, BPCE has successfully completed the marketing of the first yen-denominated social impact bond on the Japanese market. This inaugural social issue totalling 58.1 billion yen (approximately €470 million) is intended to refinance loans granted to the clients of Groupe BPCE's 15 Banque Populaire banks and 16 regional Caisses d'Epargne in the education, healthcare and social sectors. Following the success of the issue of its euro-denominated green bond in December 2015, Groupe BPCE is opening up the Samurai social-impact bond market (Samurais are yen-denominated bonds made by non-domestic issuers). The issue, carried out notably with advice from Natixis and Mizuho on its social-impact component and under the leadership of five joint lead managers (Daiwa, Mitsubishi UFJ Morgan Stanley, Mizuho, Natixis, and SMBC Nikko) proposes a preferred senior debt format with four tranches of five, seven, ten and fifteen years. If conditions allow, Groupe BPCE plans to regularly return to the social-impact bond market, green and sustainable alike and regardless of currency. Convinced that retail banks have a fundamental role to play in the financing of the energy transition and the socially-responsible economy, and that their business is to finance clients and not just their projects, Groupe BPCE has decided to structure its issues in line with the nature of its clients, be they small caps, mid caps or public sector entities lacking direct access to the financial markets or project financing. The bonds are intended to refinance the loans granted since 1 January 2016 to the clients of its regional banks in the fields of education, healthcare and social endeavors. Eligible loans are selected according to the business activity of the clients and identified precisely using the French Classification of Economic Activities (NAF) published by INSEE, the national institute of statistics and economic studies. Groupe BPCE will report on the outstandings refinanced by activity sector every year on its website http://www.groupebpce.fr/en.The reporting will be audited by an independent expert. Commenting, Olivier Irisson, CFO of Groupe BPCE, said: "This social-impact bond once again demonstrates Groupe BPCE's commitment, through its 15 Banque Populaire banks and 16 regional Caisses d'Epargne, to local and regional development, enabling its small-cap and public-sector clients to access a market that is structurally inaccessible for them. This approach affirms the role of cooperative retail banks, working at local and regional level, in the transformation of economies through energy transition and rural development. BPCE has also long been committed to Japanese investors and is particularly pleased to propose an investment opportunity to players in sustainable development in the French regions." Orith Azoulay, Head of SRI Research at Natixis, said: "With this issue, BPCE is rolling out what we consider a useful approach, one that responds to the role that retail banks can and must play in this market, central to their core business. This is the initial structuring step towards the implementation of a long-term approach to financing and refinancing its green and socially-responsible lending policy and will initiate market discussions on the measurement of the impacts of this type of financing." Alexandra Bergmann, Head of Bond Origination, France, for Mizuho International, said: "This first Samurai social-impact bond issue responds to growing demand from Japanese investors in the field of socially-responsible investment. Since its inaugural issue on the Japanese market in 2012, Groupe BPCE has adopted an increasingly original positioning and strengthened its franchise and the diversification of its investment base through a social commitment shared with Japanese investors." Groupe BPCE has been making regular issues on the Japanese market since 2012. At 22 June 2017, it stood as the largest Samurai bond issuer. As a pioneer, Groupe BPCE was the first French banking group to issue a Tier 2 bond on the Japanese market in 2015, the first non-domestic issuer to invest Tier 2 debt on the Japanese retail market in 2016, and the first French bank to issue non-preferred senior Samurai debt, in January 2017. It also received an award from the financial services provider, Capital Eye, in the "Samurai Bond Market" category as the best issuer in 2015 and 2016. About Groupe BPCE Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary cooperative commercial banking networks: the network of 15 Banque Populaire banks and the network of 16 Caisses d'Epargne. It also works through Crédit Foncier in the area of real estate financing. It is a major player in Investment Solutions & Insurance, Corporate & Investment Banking and Specialized Financial Services with Natixis. Groupe BPCE, with its 108,000 employees, serves a total of 31.2 million customers and enjoys a strong local presence in France with 8,000 branches and 9 million cooperative shareholders.


News Article | June 22, 2017
Site: globenewswire.com

Today, BPCE has successfully completed the marketing of the first yen-denominated social impact bond on the Japanese market. This inaugural social issue totalling 58.1 billion yen (approximately €470 million) is intended to refinance loans granted to the clients of Groupe BPCE's 15 Banque Populaire banks and 16 regional Caisses d'Epargne in the education, healthcare and social sectors. Following the success of the issue of its euro-denominated green bond in December 2015, Groupe BPCE is opening up the Samurai social-impact bond market (Samurais are yen-denominated bonds made by non-domestic issuers). The issue, carried out notably with advice from Natixis and Mizuho on its social-impact component and under the leadership of five joint lead managers (Daiwa, Mitsubishi UFJ Morgan Stanley, Mizuho, Natixis, and SMBC Nikko) proposes a preferred senior debt format with four tranches of five, seven, ten and fifteen years. If conditions allow, Groupe BPCE plans to regularly return to the social-impact bond market, green and sustainable alike and regardless of currency. Convinced that retail banks have a fundamental role to play in the financing of the energy transition and the socially-responsible economy, and that their business is to finance clients and not just their projects, Groupe BPCE has decided to structure its issues in line with the nature of its clients, be they small caps, mid caps or public sector entities lacking direct access to the financial markets or project financing. The bonds are intended to refinance the loans granted since 1 January 2016 to the clients of its regional banks in the fields of education, healthcare and social endeavors. Eligible loans are selected according to the business activity of the clients and identified precisely using the French Classification of Economic Activities (NAF) published by INSEE, the national institute of statistics and economic studies. Groupe BPCE will report on the outstandings refinanced by activity sector every year on its website http://www.groupebpce.fr/en.The reporting will be audited by an independent expert. Commenting, Olivier Irisson, CFO of Groupe BPCE, said: "This social-impact bond once again demonstrates Groupe BPCE's commitment, through its 15 Banque Populaire banks and 16 regional Caisses d'Epargne, to local and regional development, enabling its small-cap and public-sector clients to access a market that is structurally inaccessible for them. This approach affirms the role of cooperative retail banks, working at local and regional level, in the transformation of economies through energy transition and rural development. BPCE has also long been committed to Japanese investors and is particularly pleased to propose an investment opportunity to players in sustainable development in the French regions." Orith Azoulay, Head of SRI Research at Natixis, said: "With this issue, BPCE is rolling out what we consider a useful approach, one that responds to the role that retail banks can and must play in this market, central to their core business. This is the initial structuring step towards the implementation of a long-term approach to financing and refinancing its green and socially-responsible lending policy and will initiate market discussions on the measurement of the impacts of this type of financing." Alexandra Bergmann, Head of Bond Origination, France, for Mizuho International, said: "This first Samurai social-impact bond issue responds to growing demand from Japanese investors in the field of socially-responsible investment. Since its inaugural issue on the Japanese market in 2012, Groupe BPCE has adopted an increasingly original positioning and strengthened its franchise and the diversification of its investment base through a social commitment shared with Japanese investors." Groupe BPCE has been making regular issues on the Japanese market since 2012. At 22 June 2017, it stood as the largest Samurai bond issuer. As a pioneer, Groupe BPCE was the first French banking group to issue a Tier 2 bond on the Japanese market in 2015, the first non-domestic issuer to issue Tier 2 debt on the Japanese retail market in 2016, and the first French bank to issue non-preferred senior Samurai debt, in January 2017. It also received an award from the financial services provider, Capital Eye, in the "Samurai Bond Market" category as the best issuer in 2015 and 2016. About Groupe BPCE Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary cooperative commercial banking networks: the network of 15 Banque Populaire banks and the network of 16 Caisses d'Epargne. It also works through Crédit Foncier in the area of real estate financing. It is a major player in Investment Solutions & Insurance, Corporate & Investment Banking and Specialized Financial Services with Natixis. Groupe BPCE, with its 108,000 employees, serves a total of 31.2 million customers and enjoys a strong local presence in France with 8,000 branches and 9 million cooperative shareholders.


News Article | February 27, 2017
Site: www.businesswire.com

Dans le cadre de cette publication, le Président-Directeur Général a déclaré : «Vicat a enregistré une bonne performance en 2016 dans un environnement géopolitique et monétaire très perturbé. La marge opérationnelle progresse et les résultats traduisent le dynamisme commercial des équipes du Groupe, allié à une très bonne maîtrise des coûts. 2016 aura notamment été marquée par un retour bénéfique de la croissance en Égypte et en France ainsi que par la poursuite de l’amélioration aux États-Unis. La forte génération de cash-flow libre a permis au Groupe de réduire sensiblement son niveau d’endettement, conformément à nos engagements. En s’appuyant sur les investissements réalisés au cours des années récentes et sur ses fortes positions de marché, Vicat entend poursuivre sa forte génération de cash-flows et la réduction de son niveau d'endettement.» Le Groupe n’ayant aujourd’hui que des quotas alloués gratuitement par l’Etat dans le cadre des Plans Nationaux d’Affectation des Quotas, l’application de ces règles conduit donc désormais à les enregistrer en stock pour une valeur nulle. Par ailleurs, des excédents étant à ce jour constatés par le Groupe, aucune dette n’est comptabilisée au bilan, et en l’absence de cession, aucun montant n‘est comptabilisé au compte de résultat. Avant le 1er janvier 2016, les quotas détenus en excédent des émissions réelles cumulées étaient enregistrés à l’actif en autres immobilisations incorporelles à la clôture et la constatation des excédents, les ventes de quotas ainsi que les échanges de quotas (EUA) contre des Certificats de Réduction d’Emission (CER) étaient comptabilisés dans le résultat de l’exercice. Les états financiers de l’exercice 2015 ont été retraités en conformité avec la nouvelle méthode à des fins de comparaison. Les impacts détaillés de ce changement sur les états financiers 2015 sont présentés dans la note 1.7 des Etats financiers annuels 2016. Il est à noter que dans le cadre de l’analyse comparative par zone géographique et par métier, seule la France et l’activité Ciment sont concernées par ce changement de méthode comptable. Dans l’ensemble de cette analyse, et sauf indication contraire, toutes les variations sont exprimées à titre consolidé, sur une base annuelle (2016/2015 retraité), et à périmètre et taux de change constants. Le chiffre d’affaires consolidé du Groupe Vicat sur l’exercice 2016 atteint 2 454 millions d’euros, stable en base publiée (-0,2%), et en progression de +4,1% à périmètre et taux de change constants par rapport à la même période en 2015. L’évolution du chiffre d’affaires consolidé par région, hors effets de périmètre et de change, traduit : L’EBITDA consolidé du Groupe augmente de +3,2%, à 458 millions d’euros, et de +8,0% à périmètre et taux de change constants, par rapport à l’EBITDA 2015 retraité. Sur cette base, la marge d’EBITDA sur le chiffre d’affaires consolidé s’améliore à 18,7% contre 18,1% en 2015 (retraité). Cette amélioration de l’EBITDA par rapport à l’EBITDA 2015 (retraité) à périmètre et change constants résulte pour l’essentiel : L’EBIT consolidé s’établit à 258 millions d’euros. Il s’affiche en progression par rapport à l’EBIT 2015 retraité de +5,0% sur la période, et de +9,6% à périmètre et taux de change constants. La marge d’EBIT s’améliore légèrement et s’établit à 10,5% en 2016 contre 10,0% en 2015 (retraité). La charge d’impôt augmente de +7,6% par rapport à 2015 retraité, à -66,7 millions d’euros et reflète d’une part la croissance de +10,8% du résultat avant impôt publié et d’autre part une diminution du taux d’impôt qui s’établit en 2016 à 30,6% du résultat avant impôts publié contre 31,6% en 2015 retraité. Cette diminution de la pression fiscale provient notamment de la France, avec la suppression de la contribution exceptionnelle de 10% et la diminution du taux d’impôt à l’horizon 2020, ayant un impact positif dans le compte de résultat de +2,9 millions d’euros. Le chiffre d’affaires au 31 décembre 2016 en Europe, hors France, recule de -3,2% en base publiée et de -1,2% à périmètre et taux de change constants. Sur le 4ème trimestre, le chiffre d’affaires consolidé progresse de +4,7% en base publiée et de +4,1% à périmètre et change constants. Sur l’ensemble de l’exercice, l’EBITDA fléchit quant à lui de -8,0% en base publiée et de -6,1% à périmètre et taux de change constants. Sur ces bases, la marge d’EBITDA s’établit à 22,9% contre 24,1% en 2015. En Suisse, le chiffre d’affaires consolidé du Groupe en 2016 recule de -3,3% en base publiée. A périmètre et taux de change constants, il recule de -1,3%. En revanche, sur le 4ème trimestre, le chiffre d’affaires consolidé progresse de +5,1% en base publiée et de +4,5% à périmètre et change constants. L’EBITDA généré en 2016 est en retrait de -7,5% en base publiée et de -5,6% à périmètre et change constants, reflétant une baisse de la marge d’EBITDA sur le chiffre d’affaires consolidé à 23,3% contre 24,4% en 2015. L’activité aux États-Unis poursuit sa croissance dans un environnement macro-économique bien orienté et favorable au secteur de la construction. Dans ce contexte, le chiffre d’affaires consolidé du Groupe affiche une progression de +6,2% en base publiée et de +5,9% à périmètre et change constants. Le chiffre d’affaires au 4ème trimestre affiche une progression de +7,3% en base publiée et de +5,7% à périmètre et change constants. Le chiffre d’affaires s’établit sur l’ensemble de la région à 538 millions d’euros, en baisse de -5,3% en base publiée mais en progression de +5,3% à périmètre et taux de change constants. Sur le 4ème trimestre, l’activité progresse de +3,9% en base publiée et de +5,8% à périmètre et change constants. En Turquie, le chiffre d’affaires consolidé sur l’exercice s’établit à 219 millions d’euros, en hausse de +3,4% à périmètre et taux de change constants, mais en recul de -6,5% en base publiée. L’activité générée au cours du 4ème trimestre s’affiche en baisse de -11,3% en base publiée et de -1,3% à périmètre et change constants. Sur l’ensemble de l’exercice, l’EBITDA progresse de +3,4% à périmètre et change constants (-6,5% en base publiée), avec un taux de marge stable à 21,6% du chiffre d’affaires consolidé. En Inde, au cours de l’exercice 2016, le Groupe a enregistré un chiffre d’affaires consolidé de 275 millions d’euros en progression de +7,0% à périmètre et taux de change constants, et de +2,4% en base publiée. Cette performance se caractérise par une progression des volumes au cours de l’exercice, en hausse de plus de +20%. Avec plus de 4,8 millions de tonnes vendues en 2016, cette progression reflète la stratégie mise en place par le Groupe depuis la fin de l’exercice 2015 consistant à saisir les opportunités offertes par l’amélioration constatée de l’environnement macro-économique et sectoriel, avec notamment le démarrage d’un certain nombre de grands projets. Quant aux prix moyens de vente, ceux-ci sont en recul compte tenu d’une pression concurrentielle accrue et d’un mix géographique nettement défavorable. Au cours du 4ème trimestre, le chiffre d’affaires progresse de +13,1% à périmètre et taux de change constant (+12,2% en base publiée), la mise en place de la mesure de démonétisation n’ayant eu qu’un impact temporaire sur l’activité du Groupe. Il est important de noter qu’au cours de cette dernière période, les prix moyens de vente s’affichent en très légère progression. Sur l’exercice 2016, l’EBITDA généré par le Groupe en Inde s’affiche en très légère baisse de -1,4% à périmètre et taux de change constants (-5,6% en base publiée). La marge d’EBITDA sur le chiffre d’affaires opérationnel recule pour s’établir à 22,1% contre 24,1% en 2015. Le Kazakhstan enregistre un chiffre d’affaires de 44 millions d’euros, soit une progression de +4,9% à périmètre et taux de change constants. En base publiée, compte tenu de la très forte dévaluation du tengué au second semestre 2015, le chiffre d’affaires recule quant à lui de -32,5%. La bonne performance opérationnelle s’explique par une nouvelle progression des volumes de +2%, mais aussi des prix de vente sur l’ensemble de la période. Le chiffre d’affaires consolidé généré au Kazakhstan au 4ème trimestre est en légère progression de +0,8% à périmètre et taux de change constants, et progresse très sensiblement en base publiée (+255%) compte tenu de la réévaluation du tengué. La baisse des volumes, de l’ordre de -9%, a été compensée par une solide amélioration du prix moyen de vente. Dans ce contexte, et compte tenu de l’impact négatif et significatif de la dévaluation du tengué sur certains coûts fixes, l’EBITDA généré sur la période fléchit de -12,6% à périmètre et taux de change constants. La marge d’EBITDA sur le chiffre d’affaires s’établit ainsi à 25,4% contre 30,4% en 2015. Dans la région Afrique et Moyen-Orient, le chiffre d’affaires s’établit à 346 millions d’euros, stable (+0,1%) en base publiée, mais en croissance de +10,7% à périmètre et taux de change constants. Sur le 4ème trimestre, l’activité progresse très sensiblement de +33,1% à périmètre et change constants et de +2,5% en base publiée. En Égypte, le chiffre d’affaires annuel s’établit à 117 millions d’euros, en progression de +33,7% à périmètre et taux de change constants (+3,5% en base publiée). Cette évolution est le résultat d’une forte progression des volumes vendus de plus de +27%. Les prix moyens de vente enregistrent une légère progression sur l’ensemble de l’exercice. Sur le 4ème trimestre ce marché a été marqué par la très forte dévaluation de la livre égyptienne intervenue au début du mois de novembre. Ainsi, le chiffre d’affaires consolidé est en baisse de -3,2% en base publiée, mais progresse de +100,4% à périmètre et change constants soutenu par une forte augmentation des volumes vendus de près de +61% et une hausse des prix, elle aussi significative. Dans ce contexte, favorisé par la baisse des coûts de l’énergie liée au démarrage des deux broyeurs charbon au deuxième semestre 2015, l’EBITDA généré sur l’ensemble de l’exercice 2016 a été multiplié par 5 à périmètre et change constants. Il s’élève à 19,5 millions d’euros contre 4,8 millions d’euros en 2015. Sur la zone Afrique de l’Ouest, le chiffre d’affaires consolidé s’établit à 229 millions d’euros stable (-0,5%) à périmètre et taux de change constants, et en recul de -1,6% en base publiée. Les volumes enregistrent une progression de près de +3% sur l’ensemble de la période, la hausse enregistrée au Sénégal ayant permis de largement compenser la baisse sensible affichée en Mauritanie. Quant aux prix moyens de vente, ceux-ci fléchissent légèrement sur l’exercice compte tenu du contexte concurrentiel. Sur le 4ème trimestre, le chiffre d’affaires consolidé progresse de +5,9% à périmètre et taux de change constants (+4,7% en base publiée), soutenu par une progression des volumes ciment de près de +2% et d’un environnement prix légèrement plus favorable. Sur ces bases, l’EBITDA généré par le Groupe dans cette région est stable avec néanmoins un taux de marge sur le chiffre d’affaires opérationnel qui progresse légèrement sous l’effet de la baisse des coûts combustibles et de mesures de réduction de coûts prises en vue de s’adapter au nouvel environnement concurrentiel. Le chiffre d’affaires opérationnel de l’activité Ciment progresse de +5,8% à périmètre et taux de change constants, et reste quasi stable en base publiée (-0,4%). Le chiffre d’affaires consolidé recule quant à lui de -0,9% en base publiée mais progresse de +6,1% à périmètre et change constants. Cette amélioration de l’activité à périmètre et change constants s’explique essentiellement par une progression des volumes vendus de +10,5%. Tous les pays ont participé à cette performance. Les prix moyens de vente s’affichent globalement en baisse sur l’exercice, l’amélioration enregistrée aux États-Unis, en Égypte et au Kazakhstan ne permettant pas de compenser la baisse affichée dans les autres pays et plus particulièrement en Inde, en Turquie et en Suisse. Cette baisse a été plus limitée en Italie, au Sénégal et en France. Il est à noter qu’au 4ème trimestre, le chiffre d’affaires opérationnel est en progression de +4,8% en base publiée (+5,4% en consolidé) et de +11,5% à périmètre et change constants (+13,3% en consolidé). L’EBITDA s’établit à 380 millions d’euros, en progression de +12,2% à périmètre et taux de change constants par rapport à l’EBITDA 2015 (retraité). Cette évolution tient compte d’une progression marquée de la contribution en montants de l’Égypte, des États-Unis et de la France. Cette progression est plus légère en ce qui concerne la Suisse et la Turquie, et recule en Afrique de l’Ouest, et, dans une moindre mesure, en Inde et en Italie. En ce qui concerne la marge d’EBITDA sur le chiffre d’affaires opérationnel, elle affiche une nette amélioration sur l’exercice, à 25,5% contre 23,9% en 2015. Cette performance reflète une progression sensible de la marge en Égypte, aux États-Unis, en France, et, dans une moindre mesure, en Suisse, permettant de compenser le recul au Kazakhstan, en Inde et en Italie. Elle est quasi stable en Afrique de l’Ouest et en Turquie. Enfin, en 2016, l’EBIT s’améliore par rapport à l’EBIT 2015 (retraité) de +19,6% à périmètre et change constants (+14,4% en base publiée), et s’établit à 239 millions d’euros contre 209 millions d’euros en 2015 (retraité). Le chiffre d’affaires opérationnel de l’activité Béton & Granulats est en progression de +1,6% en base publiée et de +3,1% à périmètre et change constants. Les volumes de béton livrés sont en progression de +3,4% sur la période, soutenue par une progression en Turquie et en France qui a permis de compenser la baisse enregistrée aux États-Unis. Ils sont quasi stables en Suisse. Les volumes de granulats progressent quant à eux de +5,5%, la progression en Turquie et en Afrique de l’Ouest permettant de très largement compenser la baisse observée en Suisse. Les volumes sont quasi stables en France. Les prix de vente moyens baissent globalement, avec un recul en France dans le béton et dans les granulats, une baisse dans le béton en Suisse et en Turquie. Ces baisses ont été en partie compensées par une hausse des prix moyens dans le béton aux États-Unis et dans les granulats en Suisse et au Sénégal. Il est à noter qu’au 4ème trimestre, le chiffre d’affaires opérationnel est en très léger retrait de -0,7% en base publiée (-1,0% en consolidé) et qu’il est stable à périmètre et change constants (-0,3% en consolidé). Compte tenu de ces éléments, l’EBITDA recule de -5,9% à périmètre et taux de change constants. La marge d’EBITDA sur le chiffre d’affaires opérationnel recule légèrement à 6,1% contre 6,7% en 2015. Cette contraction résulte d’une baisse en France et, mais de façon moins sensible, aux États-Unis, en partie compensée par une amélioration au Sénégal et en Turquie. Elle est stable en Suisse. L’EBIT se contracte quant à lui de -9,3% à périmètre et taux de change constants, s’établissant à 16 millions d’euros contre 18 millions d’euros en 2015. Le chiffre d’affaires opérationnel de l’activité Autres Produits & Services est quasi stable (-0,4%) en base publiée et progresse légèrement de +1,1% à périmètre et change constants. Le chiffre d’affaires consolidé recule quant à lui de -1,6% en base publiée et de -0,7% à périmètre et change constants. La bonne performance de l’activité en France n’a pas permis de compenser le fort recul observé en Suisse essentiellement en raison d’une baisse des ventes de traverses ferroviaires suite au démarrage repoussé à 2017 de projets et d’une plus forte pression sur les prix de certains produits préfabriqués suite à la réévaluation du franc suisse. Il est à noter qu’au 4ème trimestre, le chiffre d’affaires opérationnel est en retrait de -1,4% en base publiée (-1,1% en consolidé) et de -0,7% à périmètre et change constants (-1,4% en consolidé). Sur ces bases, l’EBITDA recule à 20 millions d’euros contre 25 millions d’euros en 2015, la marge d’EBITDA sur le chiffre d’affaires opérationnel s’établissant désormais à 5,1% contre 6,2% en 2015. L’EBIT recule très sensiblement sur l’exercice, pour s’établir à 3 millions d’euros contre 19 millions d’euros en 2015. Les investissements industriels réalisés par Vicat se sont élevés à 136 millions d’euros en 2016 contre 162 millions d’euros en 2015 retraité. Cette baisse est le résultat d’investissements de maintenance qui sont restés globalement stables par rapport à 2015, et de la fin des investissements réalisés en 2015 en Égypte, liés à la construction des deux broyeurs charbon, et en Turquie, liés au redémarrage du four 1 de Bastas. Les investissements financiers réalisés sur la période s’élèvent à 63 millions d’euros contre 19 millions d’euros en 2015. Ils correspondent essentiellement à des décaissements effectués pour renforcer le maillage du Groupe dans l’activité Béton et Granulats en France, au travers d’accords de partenariat et/ou de rachats de participation, ainsi que de titres divers, créances et prêts. Par ailleurs, ce montant prend en compte le reclassement en créance à hauteur de 20 millions d’euros de disponibilités ayant fait l’objet d’une saisie conservatoire sur les comptes d’une société indienne du Groupe, Bharathi Cement, dans le cadre d’une procédure d’enquête diligentée par les autorités administratives et judiciaires sur des faits antérieurs à l’entrée de Vicat dans son capital. En 2015, les investissements financiers étaient principalement constitués de prêts, créances et avances consentis. Sur l’exercice 2017, le Groupe s’attend à une amélioration de ses performances, s’appuyant sur la poursuite de la croissance aux États-Unis, en France, en Inde et au retour à la croissance en Europe (hors France) et au Kazakhstan. Ces éléments devraient permettre de compenser la hausse attendue des coûts de l’énergie et la baisse de la profitabilité en Égypte, compte tenu de la très forte dévaluation intervenue fin 2016. Dans ce contexte, le Groupe poursuivra en 2017 sa politique d’optimisation de ses cash-flows et de réduction de son niveau d'endettement. À PROPOS DU GROUPE VICAT Le groupe Vicat emploie plus de 8 000 personnes et a réalisé un chiffre d’affaires consolidé de 2,454 milliards d'euros en 2016, provenant de ses activités de production de Ciment, de Béton & Granulats et Autres Produits & Services. Le Groupe est présent dans 11 pays : France, Suisse, Italie, États-Unis, Turquie, Égypte, Sénégal, Mali, Mauritanie, Kazakhstan et Inde. Plus de 68% de son chiffre d’affaires est réalisé à l’international. Le groupe Vicat est l'héritier d'une tradition industrielle débutée en 1817 avec l'invention du ciment artificiel par Louis Vicat. Créé en 1853, le groupe Vicat exerce aujourd’hui 3 métiers principaux que sont le Ciment, le Béton Prêt à l'Emploi (BPE) et les Granulats, ainsi que des activités complémentaires à ces métiers de base. Avertissement : Ce communiqué de presse peut contenir des informations de nature prévisionnelle. Ces informations constituent soit des tendances, soit des objectifs, et ne sauraient être regardées comme des prévisions de résultat ou de tout autre indicateur de performance. Ces informations sont soumises par nature à des risques et incertitudes, tels que décrits dans le Document de Référence de la Société disponible sur son site Internet (www.vicat.fr). Elles ne reflètent donc pas les performances futures de la Société, qui peuvent en différer sensiblement. La Société ne prend aucun engagement quant à la mise à jour de ces informations. Des informations plus complètes sur Vicat sont disponibles sur son site Internet www.vicat.fr.


Trademark
Groupe E SA | Date: 2016-07-25

Clothing, tee-shirts, polo-neck jerseys, vest tops, shirts, blouses, sweat shirts, waistcoats, cardigans, jumpers trousers, long and short overalls, underpants and swimming trunks, skirts, gowns, combinations (clothing), swimming costumes, jackets (clothing), underwear (briefs, undershirts, knickers, bodies (undergarments)), slippers, socks, tights, lingerie, pyjamas, nighties, bath-wraps, bibs, bibs not of paper, footwear canvas and leather shoes, sneakers, boots, rain boots, sandals, flexible-soled footwear and soles for walking footwear, belt (clothing) headgear, ear muffs (clothing), sashes for wear, caps (headwear). Advertising, Business administration, computerised file management, public relations services, commercial administration of the licensing of the goods of other and for the processing of sales conducted by others, assistance in management of business activities, procurement services for others, dissemination of advertisements and of advertising material (flyers, brochures, leaflets and samples), business organisation, publicity and sales promotion services, wholesaling and retailing and sales via the Internet and via telephone of clothing, footwear and headgear. Financial affairs, holding company services, mutual funds, acquisition and financial participation. Research and design in the field of textiles and fashion, stylization of clothes.


Trademark
Groupe E SA | Date: 2016-07-25

Clothing, tee-shirts, polo-neck jerseys, vest tops, shirts, blouses, sweat shirts, waistcoats, cardigans, jumpers trousers, long and short overalls, underpants and swimming trunks, skirts, gowns, combinations (clothing), swimming costumes, jackets (clothing), underwear (briefs, undershirts, knickers, bodies (undergarments)), slippers, socks, tights, lingerie, pyjamas, nighties, bath-wraps, bibs, bibs not of paper, footwear canvas and leather shoes, sneakers, boots, rain boots, sandals, flexible-soled footwear and soles for walking footwear, belt (clothing) headgear, ear muffs (clothing), sashes for wear, caps (headwear). Advertising, Business administration, computerised file management, public relations services, commercial administration of the licensing of the goods of other and for the processing of sales conducted by others, assistance in management of business activities, procurement services for others, dissemination of advertisements and of advertising material (flyers, brochures, leaflets and samples), business organisation, publicity and sales promotion services, wholesaling and retailing and sales via the Internet and via telephone of clothing, footwear and headgear. Financial affairs, holding company services, mutual funds, acquisition and financial participation. Research and design in the field of textiles and fashion, stylization of clothes.


Trademark
Groupe E SA | Date: 2016-12-01

: Clothing, namely, designer clothing featuring suits, jackets, trousers, vests, ties, dress shirts, cardigans, jeans, belts, boxers, and hats; Bespoke custom garments, namely, suits, jackets, trousers, vests, ties, dress shirts, and cardigans; Clothing, namely, suits, jackets, trousers, vests, ties, dress shirts, cardigans, jeans, belts, boxers, bags, wallets, and hats. Retail clothing store featuring designer labels, namely, suits, jackets, trousers, vests, ties, dress shirts, cardigans, jeans; Retail clothing store featuring accessories, namely, belts, bags, wallets, luggage, backpacks, handbags, purses, and cufflinks; Retail clothing store featuring bespoke suits, jackets, and trousers; Retail clothing store feature fashion, namely, small boutique designer clothing, namely, featuring suits, jackets, trousers, vests, ties, dress shirts, cardigans, jeans, belts, boxers, and hats.


Trademark
Groupe E SA | Date: 2016-06-15

Apparatus for broadcasting, recording, transmitting or reproducing sound, data or images; magnetic recording media; instruments for inputting, storing, processing information or data; media for recording and reproducing sounds, images, signals and data, modems (connection equipment for computer hardware); message transmission equipment; telecommunication control components, apparatus for capturing, counting, collecting, storing, converting, processing, inputting, broadcasting and transmitting information, data and signals; computers; computer peripherals; multimedia apparatus and instruments; multimedia casings; multimedia carriers (magnetic, optical, image and sound media, software); USB flash drives; dongles; telephone apparatus; radiotelephone apparatus; hands-free or voice-activated apparatus for sending, recording, transmitting or reproducing sound, data or images; data processing apparatus, computer memories, interfaces, magnetic tapes, data media especially optical, telematic, digital or magnetic; telecommunication transmitters; computer programs for wireless communication; data transmission and sending terminals using personal wireless network technology; media for recording and reproducing data, sound and images with analog or digitally encoding in the form of sheets, magnetic tapes, floppy disks, disks, disk batteries; electronic equipment for recording and reproducing sound, images and/or data; memory or microprocessor cards, magnetic cards, chip cards; memory card readers, video cards, sound cards, TV tuner cards, cards for electronic games (designed for use with telephone receivers); television decoders; antennas; writing and/or reading apparatus for memory or microprocessor or magnetic or chip cards; compact disks; CD-ROMs; video game cartridges; MP3 players; compact disc players; DVD players; DVDs; computer terminals and servers; interactive audio and video servers; interactive terminals for presentation and ordering of products and services; database server centers (software); software, software packages, recorded programs, software of all kinds irrespective of the media used for their recording or distribution (including software recorded on magnetic media or downloaded from an external computer network); software for decoders; computer game programs, video game control apparatus, namely, remote controls, game controllers (joysticks), interactive-control floor pads, steering wheels for video games, headphones, keyboards and mice (data processing), all for use with computers and consoles for video game platforms; accessories for computer hardware and computer monitors, namely, media players, display stands, covers, batteries, accumulators with chargers; wireless electronic controls and trackballs; touch keys (touch pads); computer keyboard controllers; computer mice; computer screens and keyboards; scanners; recorders; printers for use with computers; photocopiers, facsimile machines; video cameras; electric sockets; video projectors; overhead projectors; video telephones; microfiche readers; tablets, engraving styluses, electronic agendas, digital photo frames, pocket calculators; accessories for portable MP3 listening devices, namely, wireless remote controls, stands specially designed for holding MP3 players and FM frequency transmitters; accessories for mobile telephones, namely, headsets, chargers; audio equipment; loudspeaker cabinets; loudspeakers; cabinets for loudspeakers; audio amplifiers; audio and video mixing consoles; microphones; headsets; earphones; receivers audio, video; hands-free kits; earphones; electric cells (batteries); battery chargers; rechargeable electric batteries; exposed films; satchels, bags and covers for protecting and carrying apparatus for the sending, recording, transmission or reproduction of sounds, data or images, computers, computer peripheral devices, netbooks, tablets, personal digital assistants (PDAs), electronic books, digital or MP3 music players and games consoles; touch screens; protective filters for computer monitors; computer privacy screens in the form of anti-glare protection; protective cases for electronic apparatus; mouse pads; computer transmission codification authentication apparatus; electronic apparatus for industrial networks for high-speed data transmission; wireless data transmission apparatus; satellite reception system; computer apparatus and instruments especially designed for network and Internet security; computer security apparatus, namely, firewalls, content filters, intrusion alarms, computer programs, namely, antivirus protection software; routers particularly for Internet access or computer file sharing; switches (data switches); data concentrators for establishing a common connection between components of a star computer network, namely, hubs; local network apparatus designed to link several computers together in a network, apparatus for transmitting data from computers to computer peripheral devices and from computers to other computers; display screens; audiovisual apparatus; telecommunication apparatus; change-over switches for telecommunication apparatus; instruments for inputting, storing, processing information or data; materials for electricity mains wires, cables; sheaths for electric cables; electric couplings; electrical and computer wires and cables; electrical and computer extension wires and cables; computer or electric adapters; electric, computer, telephone, Ethernet, coaxial, fiber optic, video and/or audio cables; data security and access control apparatus; retractable electric cable drums; mobile electronic accessories, namely, docking stations, USB hubs, adapter cables, wireless connectors, connectors and sockets in the form of transmitters and receivers used for connecting computers and computer peripherals wirelessly; mechanisms for prepayment operated apparatus, cash registers, calculating machines; telephone cards, computer readable, magnetic or bar-code readable apparatus for payment or prepayment; card dispensers; interactive user manuals sold as a units with the aforesaid goods; software for creating, managing and using databases; software for managing, monitoring, orchestrating and virtualizing servers and networks; software for managing, processing, storing and handling data remotely. Subscription to an assistance service relating to the implementation of radiotelephony and telephony goods and services; subscriptions to a wireless local network, particularly a short-distance network; subscriptions to a center providing access to a computer network or a network for the transmission of data, sounds, images, moving pictures, particularly via a wireless network, particularly a short or long distance network; telephone subscriptions, radiotelephone subscriptions; subscriptions to a radio paging service; subscriptions to an Internet connection offer; subscriptions to a database server, subscriptions to a center providing access to a computer or data transmission network, especially a global communication network (Internet) or private or restricted access networks (intranet); subscriptions to electronic newspapers; arranging subscriptions to telecommunication services; arranging subscriptions to data transmission services via telematic means; subscriptions to telematic databases; subscriptions to computer databases; database updating services (inputting); information services relating to the updating of databases; data recording and processing services, namely, data input, compilation and systemization; computer file management services, particularly for image and sound files; collection of data in a computer database; systematization of data in a central file; database management. Communications by telephone, radio telephone and radio as well as by all remote data processing means, via interactive videography, and, in particular, via computer terminals, peripheral equipment or electronic and/or digital equipment, via videophone, video-intercom and video-conferencing; communications by computer terminals or by fiber-optic networks; communications by radio or telephone; electronic information exchange by telex, fax machines, telephones and server centers; digital audio programs; sending and reception of data, signals and information processed by computers or by telecommunication apparatus and instruments; radio or television programs (broadcasts); provision of access to databases; provision of access to global computer networks; provision of access to web sites for digital music on the Internet; provision of access to electronic catalogs and search engines; provision and use of electronic conferencing, online blogs, discussion groups, chat rooms and electronic bulletin boards; telecommunication information; rental of telecommunication apparatus; rental of access time to global computer networks; networking of audio and/or visual recordings; connection by telecommunications to a global computer network; provision of access to the intranet or to local networks; electronic bulletin board services (telecommunication services); electronic information dissemination services, especially for global communication networks (such as the Internet) or private or restricted-access networks (such as intranets); electronic messaging services; connection to the Internet or to local networks; electronic mail services; telecommunication gateway services; cellular telephone communication; routing and filtering of Internet addresses; teleconferencing services; services for data transmission, with access code; transmission of information held in data, sound and image bases and banks; telecommunications; transmission of news and information; transmission and dissemination of news by telephone, data communication, television and digital means; transmission of messages, encoded images, music and sounds; transmission of video, sound and data to mobile terminals; transmission and dissemination of data, sound and images via computer networks, via the Internet, via data communication networks, via databases or via computer database server centers, computer communications or telephone; transmission of commercial and/or advertising data via the Internet; transmission of information via electronic catalogs on Internet networks; transmission of information held in data and image banks; broadcasting services via subscriber television services (pay-per-view) including video-on-demand services; transmission and broadcasting of audio and video programs and in general of multimedia programs; satellite transmission. Computer system analysis; analysis for implementation of computer systems; design and development of operating software used for accessing and using a cloud computing network; design and development of computer systems; design and development of computers; design, installation, maintenance, updating and rental of software; computer technical consulting; conversion of computer programs and data (other than physical conversion); conversion of data or documents from physical to electronic media; creation of computer platforms for others; development of data storage systems; duplication of computer programs; software development (design); technical project studies, management and carrying out of projects; evaluations, estimates and research in the scientific and technological fields provided by engineers; provision of access to computer infrastructures and remote development environments; hosting of data and websites; cloud computing; rental of operating software for accessing and using a cloud computer network; software as a service (SaaS); provision of temporary use of on-line non-downloadable operating software for accessing and using a cloud computer network; updating and maintenance of software and software databases and computers; setting-up of Internet sites; programming of operating software for accessing and using a cloud computing network; programming for computers; research and development of new products; recovery of image and data bases; recovery of computer data; technical assistance in operating and supervising computer networks; technical assistance services (advice) in the fields of information technology and telecommunications; technical assistance (advice) for improving the implementation conditions of apparatus for recording, reproducing and processing data, sounds and images, telecommunication terminals, database servers, provision centers for access to computer or data transmission networks, monitoring and efficiency of the above apparatus and instruments; certification and authentication (monitoring) of messages and data transmitted via telecommunications; consultancy in the field of cloud computing networks and applications; graphic arts design services; technical standardization services, namely, design and development of standards for radio and television communication, data communication and information technology standards; programming services; data backup services; downloading services for video games, digital data and software; monitoring of data, signals, images and information processed by computers or by telecommunication devices and instruments.

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