44 2016 ANNUAL REPORT 2016 ANNUAL REPORT 45
GOVERNANCE AND RESULTSGOVERNANCE AND RESULTS
Net sales for 2016 In millions of euro
2016
2015
2014
4,418.4
4,441.9
4,606.9
Net sales fell slightly by 0.5% compared to 2015. Organic growth nevertheless amounted to +2.2% with particular support from markets outside France. Group structure had no impact. The foreign exchange impact at -2.7%, reflects essentially the weakening against the euro of the currencies of Latin America, of the yuan and of the pound sterling. 70.3% of net sales were achieved outside France.
Net sales for 2016 and 2016-2015 variance By business and in millions of euro
Cheese Products Other Dairy Products Other activities: - 135.1m
1,941.8 -1%
2,611.7 +0.4%
Cheese Products accounted for 59.1% of consolidated net sales, with organic growth of +1.5% and a foreign exchange impact of -1.1%.
Other Dairy Products accounted for 43.9% of consoli- dated net sales, with organic growth of +4.1% and a foreign exchange impact of -5%.
Group share of net income In millions of euro
2016
2015
2014 restated*
104.5
57.0
39.7
The Group s share of net income rose by 83.3%. Non- recurring expenses decreased by 27.1 million whilst net borrowing costs increased by 1.7 million. The Group s share of results of associates fell by 2.2 million and its corporate income tax rose by 8.5 million.
Current operating profit In millions of euro and operating margin as a % of net sales
2016
2015
2014 restated*
187.1/4.2%
151.9/3.4%
110.0/2.4%
Current operating profit rose by 23.2% as a result essen- tially of the favorable development of the Group s strategic brands, the reinforcement of our international positions and our efforts for industrial productivity.
Current operating profit for 2016 and 2016-2015 variance By business and in millions of euro
Cheese Products Other Dairy Products Other activities: -16M
47.0 +42%
156.1 +12.5%
Current operating profit for Cheese Products gained 12.5%. Current operating margin rose from 5.3% to 6%, mainly as a result of the improvement of our product portfolio and the reinforcement of the Group s international activities.
Current operating profit for Other Dairy Products rose by 42% essentially reflecting international development. The current operating margin rate rose from 1.7% to 2.4%.
Net debt/equity In percent
2016
2015
2014 restated*
25.0%
30.6%
38.4%
Investment in tangible and intangible assets amounted to 180.3 million, up by 14.3%. There were no acquisitions in 2016 (compared to 55.9 million in 2015).
Net borrowings fell by 48.4 million to 340.1 million. Equity increased by 90.8 million over 2015.
KEY FIGURES
Employees Average total employees including temporary staff
2016
2015
2014
19,307
18,911
19,246
Average workforce rose by 2.1%. Half our employees have more than ten years past service, and more than a quarter more than twenty, thus bearing witness to their attachment to the Group.
Training In hours
2016
2015
2014
225,383
208,561
216,541
64.0% of employees attended at least one training course. Training leading to a diploma is encouraged.
Safety Number of accidents requiring time off work per million hours worked
2016
2015
2014
8.6
9.1
11.0
The Group s accident frequency rate fell by 5.5%. The severity rate remained stable in comparison with 2015.
Water consumption (Like-for-like/all sites) in millions of cubic meters
2016
2015
15.8
16.0
Water consumption per ton of production fell by 2.1% like- for-like. 96.5% of wastewater is treated before release into the natural environment.
Energy consumption (Like-for-like/production sites) in GJ/ton produced
2016
2015
6.7
6.5
Like-for-like, direct energy consumption per ton of produc- tion fell by 2.0% over 2015.
Non-dangerous industrial waste (Like-for-like/production sites) in thousands of tons
2016
2015
48.2
47.0
Non-dangerous industrial waste tonnage at our production sites, which account for almost all waste produced, increased by 2.6% like-for-like.
* The key figures for 2014 have been restated for reasons of consistency to reflect the application of IFRIC 21, Levies.