1
CONSUMER GOODS
HEALTHCARE
2016 Profile
EQUIPMENT
2
CFAO at a glance Present in Africa for over
160 years
34
Operations in countries in Africa, 7 French Overseas Territories, Vietnam and Cambodia AFRICAN OPERATIONS
Registered office in France
€3.4 billion
2015 revenue of of which 78 % in Africa
12,370 employees 145 operating subsidiaries Listed on NYSE Euronext Paris 97 % owned by Toyota Tsusho Corporation
Algeria Angola Benin Burkina Faso Cameroon Congo Côte d’Ivoire Gabon Gambia Ghana Guinea Guinea-Bissau Equatorial Guinea Mauritius Kenya Liberia Madagascar
Malawi Mali Morocco Mauritania Niger Nigeria Uganda Central African Republic Democratic Republic of the Congo São Tomé and Príncipe Senegal Sierra Leone Tanzania Chad Togo Zambia Zimbabwe
FRENCH OVERSEAS TERRITORIES (FOTs), VIETNAM AND CAMBODIA French Guiana French Polynesia Guadeloupe Martinique
New Caledonia Reunion Saint-Martin
3
Partner leading brands in Africa
06
4
An integrated offering for penetrate into the African markets in a profitable and long-lasting way
Import
Production & Packaging
Logistics
Wholesale
Retail
E-commerce
5
With ten plants and a host of projects in the pipeline, CFAO contributes to enriching Africa's industrial fabric
6
Average growth double that of African GDP over the last 15 years 3,585 3,628 3,560
3,435
3,124 2,864 2,582 2,676
2,535 2,219 2,034 1,477
1,620 1,718
1,859
1,247 1,049 9.8%
9.0%
9.1%
9.1%
9.2%
8.4%
8.2%
8.2%
9.2%
9.6% 8.4%
8.3%
8.2%
8.1%
7.4%
7.6%
7.8%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Revenue in € millions
Recurring operating margin
7
Growth and population in Africa
Source: IMF
07 07
Source: United Nations
8
The emergence of a middle class is driving African growth and creating new opportunities for CFAO
0807
The middle class in Africa: realities and challenges? A survey conducted at 2015 first-half: 5 countries: Morocco, Cameroon, Côte d'Ivoire, Nigeria, Kenya 4,000 interviews 50 ethnographic surveys
Uper class Scope of the CFAO's study, with Ipsos
> $20/pers/day: 6%
Upper-middle class
between $10 and $20/pers/day: 5%
Lower-middle class
between $4 and $10/pers/day: 9%
Floating class
between $2 and $4/pers/day: 20%
< $2/pers/day: 60% Below the poverty line
Source: CFAO BearingPoint, based on ADB data, 2015
9
The emergence of a middle class guides CFAO towards a best balance
B2B
B2C
10
3 business sectors
EQUIPMENT & SERVICES 54% OF REVENUE
04
HEALTHCARE
36% OF REVENUE
CONSUMER GOODS 10% OF REVENUE
11
7 business units EQUIPMENT & SERVICES
05
HEALTHCARE HEALTHCARE
CONSUMER GOODS
REVENUE
€345 m
REVENUE
€1,741 m West Africa
Eurafrica
23 countries
Maghreb, East Africa, FOTs & Asia
REVENUE
Production plants in 5 African countries operations in 17 countries
€1,251 m REVENUE
22 African countries, 7 FOTs, Denmark, Portugal, Italy and India
€5 m 8 countries in West and Central Africa
REVENUE
€93 m 9 subsidiaries, 21 countries
An innovative e-commerce offering in Africa www.africashop.com
12
Benin I Burkina Faso I Cameroon I Central African Republic I Congo I Côte d'Ivoire I Democratic Republic of Congo I Equatorial Guinea I Gabon I Sao Tomé I Gambia I Ghana I Guinea I Guinea Bissau I Liberia I Mali I Mauritania I Niger I Nigeria I Senegal I Sierra Leone I Chad I Togo
Rental Services
Toyota 19 I Suzuki 16 I Mitsubishi 5 Peugeot 11 I Citroën 5 I Yamaha 17
Renault Trucks 10 I DAF Trucks 4 I Fuso 4 JCB 16 I Toyota Forklift 14 I Bridgestone 18 Otis 20 I Massey Ferguson® 5
13
MAGHREB, EAST AFRICA, FOTs & ASIA
MAGHREB Algeria & Morocco
EAST AFRICA Kenya l Madagascar l Malawi l Mauritius Uganda I Tanzania l Zambia l Zimbabwe
FOTs French Guiana New Caledonia l Reunion
Toyota 2 I Ford 2 I Peugeot I Citroën 2 Mercedes-Benz 2 I Fuso Opel I Chevrolet
ASIA
Vietnam & Cambodia
Chevrolet 2 I Opel 2 I Fuso DAF Trucks 2 I JCB
Volkswagen 6 I Mercedes-Benz 4 Ford 2 I Hyundai 6
Audi 2
14
13
Integration and maintenance of IT infrastructure and software and telecommunications systems in partnership with leading global brands (IBM, Cisco, Oracle, Microsoft, APC, etc.) Recent development of new high value-added services: audit and advisory, outsourcing / managed services and radiocommunications solutions Turnkey installation of data centers as part of our rapid development of cloud solutions for Africa Countries with CFAO Technologies subsidiaries Other countries in which CFAO Technologies operates
15
Import and resale in French-speaking Sub-Saharan Africa's regulated markets and in the FOTs Partner and agent to the world's leading laboratories for the management of exports to Africa (pre-wholesale) and distribution in English-speaking Sub-Saharan Africa Development, within Missionpharma and Fazzini, of a range of generics and medical supplies and equipment tailored to institutional customers: hospitals, clinics, NGOs, public entities, etc.
FRENCH POLYNESIA, GUADELOUPE, MARTINIQUE, SAINT-MARTIN, FRENCH GUIANA, NEW CALEDONIA, REUNION, PORTUGAL, DENMARK , INDIA AND ITALY
Import and resale Distribution agent
16
A 20-year partnership with Heineken In the Brasseries du Congo joint venture. Brewing more than 2 million hectoliters and marketing the Coca-Cola range Built a new brewery in Côte d’Ivoire with Heineken: Brassivoire A 40-year partnership with the BIC® group Manufacturing pens and razors in 4 plants in Nigeria, Côte d’Ivoire, Cameroon and Ghana. Marketing BIC® products in 17 countries A partnership with L’Oréal Manufacturing and distributing beauty products across Côte d’Ivoire Partnerships with major brands in Nigeria and Ghana Distributing brand products for Ferrero, FrieslandCampina, and Mondelez among others
17
Developing and operating a network of Carrefour stores in various formats in 8 major markets in West and Central Africa: Cameroon, Congo, Côte d’Ivoire, Gabon, Ghana, Nigeria, Democratic Republic of Congo and Senegal Opening of the first shopping center PlaYce Marcory in December 2015 (Abidjan) Setting up and operating a franchised network of shops for international brands: the CFAO Club of Brands Building and operating a network of welcoming PlaYce shopping centres: • Carrefour stores • CFAO Club of Brands • Shops and services • Food court
The CFAO Club of Brands Mode/ Fashion Bonobo (Beaumanoir group) Cache Cache (Beaumanoir group) Jules Kaporal La Halle Chaussures & Maroquinerie (Vivarte group) La Halle Mode & Accessoires (Vivarte group) Morgan (Beaumanoir group) San Marina (Vivarte group) Beauty Beauty Success L’Occitane en Provence Games &Toys La Grande Récré (Ludendo group) Food court Baïla Pizza Brioche Dorée (Le Duff group) El Rancho Jeff de Bruges
18
An innovative e-commerce offering in Africa with www.africashop.com, tailored to the needs of consumers among the continent's emerging middle class. Launched in Côte d'Ivoire and Senegal in April 2016. Direct, easy access to leading international brands such as La Redoute, Vertbaudet, Devred, Etam, Somewhere and Maty, along with African designers like Sawa, De La Sébure and Manoir Coloré. Services: • option to create a single, multi-brand basket • points of sale • adapted, secure payment solutions • all-in-one offering including transport, customs clearance and home delivery
19
Committed to sustainable development in Africa
EDUCATION AND TRAINING
SCHOLARSHIP PROGRAM Secondary and higher education
ROAD SAFETY Let’s do the right thing!
HEALTHCARE & SAFETY IN THE WORK
HEALTH, DISABILITY AND DEATH INSURANCE HEALTH PROGRAM Health by CFAO
PREVENTION OF PROFESSIONAL RISKS Prisk health-safety in the work
NGO PARTNERSHIPS ONG
ENVIRONMENT
ENVIRONMENTAL MANAGEMENT SYSTEM WASTE MANAGEMENT Selective sorting Partnerships with waste treatment facilities
20
Training: a priority area for CFAO
3,978 employees received training in 2015 A training budget of More than
€4.4 million
128,648 hours of training given
An average of
32 hours of training per employee
A program of cross-functional training courses offered by CFAO Operational/job-specific training offered by the business units
21
19
KEY FIGURES
A solid financial structure
(in € millions)
Distribution revenue by geographic area
2015 revenue
€3,435.7m
47 % 6% 14 % 11 % 22 %
French-speaking Sub-Saharan Africa
2015
Simplified balance sheet
Maghreb
Intangible assets
English- and Portuguese-speaking Sub-Saharan Africa
Property, plant and equipment
261.8 521.5
Working capital requirement
727.3
Direct sales to Africa*
Other assets and liabilities
41.8
FOTs and other**
(*) Export (**) FOTs , Vietnam and Cambodge
Capital employed
1,552.1
Total equity (including equity attributable to non-controlling interests)
1,012.2
Net debt
540
€269 m
€47 m
Free operating cashflow
53 % Gearing (net debt/equity)
€107 m Group net income
Net operating investments
€148 m
18.9 %
Recurring operating income
ROCE (return on capital employed)
22
General Management Committee
1
2
3
4
1
Marc HIRSCHFELD Chief Executive Officer CFAO Automotive Equipment & Services Eurafrica
2
Marc FERREOL Chief Executive Officer CFAO Automotive Equipment & Services West Africa
3 4
6
5
Cécile DESREZ Vice President Human Resources and Corporate Social Responsibility Jean-Marc LECCIA Chairman and Chief Executive Officer Eurapharma
5 6 7 8
7
9
8
Alain PÉCHEUR Chief Financial Officer and member of the Management Board
10
9
Richard NOUNI Chief Executive Officer CFAO Technologies
Toshimitsu IMAI Vice Chairman of the Management Board Corporate Planning and Alliance Development
10
Xavier DESJOBERT Chief Executive Officer CFAO Retail
Richard BIELLE Chairman of the Management Board
11
Olivier MARZLOFF Executive Vice President and Corporate Secretary, and member of the Management Board
12
11
12
Françoise LE GUENNOU-REMARCK Vice President Institutional Relationship and Communications Marc BANDELIER Chief Executive Officer CFAO FMCG Industries & Distribution
23
Executive committee CORPORATE
EQUIPMENT CFAO Automotive Equipment & Services
Richard BIELLE Chairman of the Management Board Toshimitsu IMAI Vice Chairman of the Management Board, Corporate Planning and Alliance Development Olivier MARZLOFF Executive Vice President and Corporate Secretary, and member of the Management Board Alain PÉCHEUR Chief Financial Officer, and member of the Management Board
Jun SHIRATORI Vice President Alliance Office – Corporate Toshinari SAKABE Vice President Alliance Office – Business Stéphane HENRY AutoParts and LOXEA Director Didier LEFEBVRE Goup Information Systems Director Pierre-Henri LEGRAND General Counsel
Cécile DESREZ Vice President Human Resources and Corporate Social Responsibility
Florent MONTAUBIN Group Development and Strategic Planning Director
Françoise LE GUENNOU-REMARCK Vice President Institutional Relationship and Communications
Régis de PONCINS Head of Safety, Insurances and Risks Emmanuel ROZIER Head of Internal Audit & Kaizen
General Management Committee members
HEALTHCARE SANTE Eurapharma
CONSUMER GOODS CFAO FMCG Industries & Distribution
West Africa
Marc FERREOL Chief Executive Officer Patrick CESSANS Chief Operating Officer Thomas GAJAN Used Cars, Two Wheels and Marine Director Frédéric NONET Equipment Director Eurafrica
Marc HIRSCHFELD Chief Executive Officer Pascal LAFFARGUE Chief Operating Officer East Africa CFAO Technologies Richard NOUNI Chief Executive Officer
Jean-Marc LECCIA Chairman and Chief Executive Officer Guy FAUCHET Head of French Overseas Territories Benoît JACQUOT Pre-wholesale Director, head of English- and Portuguesespeaking Africa zone & the Maghreb Ken ACCAJOU Head of French-speaking Africa & Madagascar zone Denis MAURICE Corporate Development Director and Director of Healthcare Institutional Clients
Marc BANDELIER Chief Executive Officer
CFAO Retail
Xavier DESJOBERT Chief Executive Officer
E-commerce Development
Olivier NGUYEN-KHAC Chief Executive Officer Africashop
24
Governing bodies THE MANAGEMENT BOARD Richard Bielle Chairman A graduate of the Ecole Supérieure de Commerce de Paris (ESCP), Richard Bielle began his career in the financial sector. In 1988, he joined Renault Trucks where he held various financial management positions. In 1997, he joined ING Barings as Senior Manager in charge of project financing, and then CFAO in 1999 as Development Director for the Automotive division’s operations. He became CFAO’s head of finance in 2002 and he was appointed Chief Operating Officer of CFAO Automotive in 2005. He was appointed Chairman of the Management Board in 2009, and was succeeded by Alain Viry in September 2012. In December 2013, Richard Bielle resumed the Chairmanship of the Management Board.
Toshimitsu Imai Vice Chairman, Corporate Planning and Alliance Development Toshimitsu Imai holds a degree in Marketing of Waseda University in Tokyo, Japan. He also obtained USCPA (Certified Public Accountant). He joined the Japanese company Toyota Tsusho Corporation (TTC), where he has been involved in Automotive Business of TTC. During his career at TTC, he worked as Chief Representative of TTC at Antananarivo (Madagascar) from 1990-1995, General Manager of Toyota Tsusho Africa at Johannesburg South Africa from 2000-2005 and General Manager of TTC Automotive Division Planning Department just before joining CFAO. Toshimitsu Imai joined CFAO in France as Vice President Alliance Office-Business in March 2013, the position he held until his appointment as member and Vice Chairman of the Management Board.
THE SUPERVISORY BOARD Olivier Marzloff Executive Vice President and Corporate Secretary Olivier Marzloff graduated from ISG with a degree in finance and accounting. He began his career as a Manager in the audit practice of PricewaterhouseCoopers. In 1994, he joined Kering (formerly PPR) as head of the group’s internal audit department and then joined Pinault Distribution as Chief Financial Officer. He was appointed Corporate Secretary of Pinault Bois et Matériaux (PBM) in 1998, and continued to hold this position after PBM was acquired by the British group Wolseley in 2003. He returned to Kering in May 2004 as Executive Vice-President and Chief Financial Officer of Redcats USA in New York. Olivier Marzloff joined CFAO in June 2008 as Corporate Secretary.
Jean-Charles Pauze Chairman
Pierre Guénant Vice Chairman
Member of the Supervisory Board since February 8, 2011 and Chairman since September 5, 2012
Member of the Supervisory Board since November 16, 2009
Nathalie Delapalme
Takashi Hattori
Member of the Supervisory Board since May 17, 2010
Member of the Supervisory Board since August 2, 2012
Corinne Le Goff
Sylvie Rucar
Member of the Supervisory Board since October 28, 2014
Member of the Supervisory Board since May 25, 2012
Yasuhiko Yokoi Member of the Supervisory Board since August 2, 2012
Alain Pécheur Chief Financial Officer Alain Pécheur is a graduate of the ESG where he specialized in chartered accountancy. He also holds an eMBA from HEC. He began his career at CFAO as an auditor before becoming a financial controller. In 1997, he was appointed Internal Audit Manager and he later became the Secretary General of the purchasing office. In 2002, he became the Head of Financial Services of CFAO and, in 2005, he joined CFAO Automotive as Chief Financial Officer. Alain Pécheur has held the position of Chief Financial Officer of CFAO since March 2009.
25
A stable shareholder structure with a long-term vision
TTC owns 97
% of CFAO’s share capital
Revenue of (03/31/2015) : JPY
8,663 billion
53,241 employees
in over 90 countries
Over 970 operating subsidiaries Listed on the Tokyo Stock Exchange, nearly
22% of TTC’s shares are owned by Toyota Extensive logistics and industrial expertise
TTC operates in six different divisions Metals Global Parts & Logistics Automotive Machinery, Energy & Project Chemicals & Electronics
Food & Consumer Services
26
CONSUMER GOODS
HEALTHCARE
EQUIPMENT
2016 Profile – English version – 2016.05.10 CFAO Group Registered office: 18 rue Troyon, 92316 Sèvres Cedex. France. RCS Nanterre B 552 056 152 www.cfaogroup.com
Design & production:
Communications department Photo credits: ©AMREF Flying Doctors, JCB, Joan Bardeletti, Boireau, Corbis, Raymond Djigla, Getty Images, Isabelle Nery, Thomas Renaut, Patrick Sagnes, ITT, Renault_Trucks_SAS, Shutterstock, Thinkstock, Volkswagen, CFAO Group all rights reserved. Alcohol abuse is bad for your health, drink responsibly.
