persons responsible person in charge of the registration document 1.1 and the annual financial ...

316 Pages·2017·6.13 MB·English

Registration
2O17Document
including the annual financial report
ENGINEERING AND TECHNOLOGY CONSULTING
Registration
2O17Document
including the annual financial report
“This document and the accompanying financial report constitute the ALTEN registration document for 2017. It was filed with
the French Financial Markets Authority (Autorité des Marchés Financiers, or AMF) on 27 april 2018, in accordance with
Article 212-13 of the AMF General Regulation. It may only be used in support of a fi nancial transaction if accompanied
by a securities note authorised by the AMF.

Pursuant to Article 28 of Regulation (EC) No. 809/2004, the following information is incorporated by reference in this
Registration Document:
• T he separate and consolidated financial statements at 31 December 2016, and Statutory Auditors’ reports, found on
pages 209 to 259 of Registration Document No. D.17-0463, filed with the AMF on 28 April 2017.
• T he separate and consolidated financial statements at 31 December 2015, and Statutory Auditors’ reports, found on
pages 195 to 247 of Registration Document No. n° D.16-0395 filed with the AMF on 25 April 2016 ;

This document was prepared by the issuer and the signatories are responsible for its contents.

Copies of this Registration Document are available for free at the issuer’s head office (40 avenue André Morizet, 92100
Boulogne-Billancourt), as well as on the issuer’s website (www.alten.com) and on the AMF website (www.amf-france.org).”
Registration
Document
CONTENTS
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04 Interview with Simon Azoulay
05 ALTEN Group governance
05 Board of Directors
06 Executive Committee
07 The Group Management Board
09 Profile
10 Key figures 2017
12 ALTEN in the world
14 The benefits of development
16 1. ALTEN, TECHNOLOGY PARTNER
18 Changes in global R&D and market trends in R&D outsourcing
20 ALTEN’s positioning
21 Range of services
24 2. OUR CUSTOMERS
26 Automotive
28 Rail
30 Aerospace
32 Defence and security
34 Energy and Environmental Management
36 Life and Health sciences
38 Telecommunications and Multimedia
40 Banking/Finance/Insurance
42 3. O PERATIONAL EXCELLENCE
AND SUSTAINABLE DEVELOPMENT
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Interview with
Simon Azoulay
What were the highlights of 2017 for ALTEN? in all the countries where we operate with the aim of
expanding our positions in Eastern Europe, North America
ALTEN reinforced its position as a key player in the and Asia, through organic growth and acquisitions, to
Engineering and Technology Consulting sector, with 28,000 achieve over 2,000 engineers per geographical area. In
employees at end 2017, including 24,700 engineers, Germany, our top European country in terms of potential
revenue of €1.975 billion (up 13%) and an operating profit for outsourcing R&D, we will continue with the successful
on activity of nearly 10%. Workpackage transformation, achieve a critical mass of
4,000 engineers and restore the operating margin (≥ 10%).
The Group’s organic growth accelerated throughout 2017,
in France and internationally, particularly in the last quarter. Lastly, we will consolidate ALTEN’s leadership of our
On a mature and competitive market, France newly customers’ transformation programmes in the fields of digital
experienced a sustained growth (+10.1%). Internationally, transformation, Big data, Industry 4.0, etc. Our historic
growth continued to be strong at +15.6%, half of which positioning in outsourced R&D, Telecoms and IT enables
from acquisitions. us to cover the entire embedded systems value chain –
Connectivity – Cloud – Data processing – Man-Machine
All geographical areas (except UK) were up and international Interface. We are capitalising on this major competitive
business now accounts for nearly 54% of the Group’s advantage to seize upon the strong growth in this market.
revenue.
The operating margin on activity, penalised by a negative
calendar effect, remained satisfactory. It rose in the second In conclusion?
half to 10.2% of revenue.
I am optimistic about the deployment of our three-year
In 2017, ALTEN made six international acquisitions, two in plan across all geographical areas. We have all the
Germany and Switzerland and four in the United States. A assets that are key to achieve our objectives, especially
number of acquisitions initiated in 2017 should be finalised an HR policy that is unique in the market, all the
in the first half of 2018. technical expertise required to respond to our customers’
challenges, a mature Technical Department with its
A number of internal projects (CRM, HR follow-up and skills Workpackage offering, a network of well-structured and
development, project and technical delivery management) high-performance offshore and nearshore delivery centres
were successfully completed, optimising the company’s and, lastly, a sound financial structure enabling us to
organisation and processes. We also structured our successfully implement our acquisitions policy.
nearshore and offshore delivery centres in Morocco, India
and Romania. These centres have around 2,000 high- This plan will enable us to maintain an operating profit on
level engineers working on European and North-American activity of around 10% despite wage pressures, and to
projects. conduct over 60% of our business outside France by end
2019 with over 28,000 engineers.
What are the main strategic focuses for your
new 2018-2020 three-year plan?
In the first instance, we remain committed to the top-end
positioning of our engineers, who have been at the very
core of the ALTEN Group since its creation. The high
added value of our projects enables us to recruit the best
candidates and the quality of our HR follow-up gives the
highest performers the chance to increase their responsibility
in the technical field, in terms of expertise or management,
or even to get involved in company development within
business management or support functions.
On a geographical level, we are deploying our organisation
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GOVERNANCE
Board of
Directors
COMPOSITION OF THE BOARD OF DIRECTORS Jane SEROUSSI, a French national, was born on 5
February 1966 in Paris, and was appointed by ALTEN’s
Article 16 of the Company’s Articles of Association provides Combined Ordinary and Extraordinary General Meeting
that the Board of Directors is composed of no fewer than of 18 June 2014. At 31 December 2017, she held no
three (3) and no more than eighteen (18) members. Company shares.
At 31 December 2017, the Board of Directors was Marc EISENBERG, a French national, was born on 9 April
composed of ten members: 1955 in Paris, and was appointed by ALTEN’s Combined
Ordinary and Extraordinary General Meeting of 18 June
S imon AZOULAY, who also serves as Chairman and 2014. At 31 December 2017, he held no Company
Chief Executive Officer; shares.
G érald ATTIA, who also serves as Deputy Chief Evelyne FELDMAN, a French national, was born on 19
Executive Officer; May 1957 in Paris, and was appointed by ALTEN’s
Emily AZOULAY ; Combined Ordinary and Extraordinary General Meeting
Anaëlle AZOULAY ; of 24 May 2016. At 31 December 2017, she held no
Company shares.
Jane SEROUSSI ;
M arc EISENBERG, independent director; Philippe TRIBAUDEAU, a French national, was born in
E velyne FELDMAN, independent director; Chaumont (France) on 29 May 1961. He was appointed
P hilippe TRIBAUDEAU, independent director; by ALTEN’s Combined Ordinary and Extraordinary General
Meeting of 24 May 2016. At 31 December 2017,
A liette MARDYKS, independent director; he held no Company shares.
M arwane METIOUI, director representing employees.
Aliette MARDYKS, a French national, was born on 8
Simon AZOULAY, a French national, was born on 29 May February 1956 in Tangier, and was appointed by ALTEN’s
1956 in Rabat (Morocco). He is a graduate of Supélec. Combined Ordinary and Extraordinary General Meeting
At 31 December 2017, he held in his own name and via of 22 June 2017. At 31 December 2017, she held no
SGTI, which he wholly controls, 15.07% of the Company’s Company shares.
capital.
Marwane METIOUI, a French national, was born on 28
Gérald ATTIA, a French national, was born on 6 April June 1975, in Tangier, and was appointed by ALTEN’s
1962 in Livry-Gargan (93) and holds an MBA from Works Council on 21 December 2017. His appointment
Hartford. At 31 December 2017, he held in his own name was duly acknowledged by the Board of Directors on
and via GMA, which he controls, 0.78% of the Company’s 26 January 2018. At 31 December 2017, he held no
capital. Company shares.
Emily AZOULAY, a French national, was born on 20 July
1948 in Rabat (Morocco). At 31 December 2017, she
held 0.01% of the Company’s capital.
Anaëlle AZOULAY, a French national, was born on 31
October 1990 in Paris, and was appointed by ALTEN’s
Combined Ordinary and Extraordinary General Meeting
of 18 June 2014. At 31 December 2017, she held no
Company shares.
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Executive
Committee
The Executive Committee meets at least once a month. It is made up of the Chairman and Chief Executive Officer and Deputy
Chief Executive Officers. It analyses the sales and financial performance, defines the development strategy, sets targets, and
implements operational measures.

Simon AZOULAY,
Chairman and Chief Executive Officer.
Gérald ATTIA, Bruno BENOLIEL, Pierre MARCEL,
Deputy Chief Executive Officer, Deputy Chief Executive Officer, Deputy Chief Executive Officer,
Responsible for Sales, Structured Responsible for Finance, Responsible for ALTEN France
Projects and International Legal and Information Systems. and Solutions subsidiaries.
area 2.
Olivier GRANGER, Pierre BONHOMME, Stéphane OUGIER,
Chief Operating Officer, Executive Vice President, ALTEN Executive Vice President
Responsible for International Technology France, UK and ALTEN Technology France
area 1. Northern Germany. and Solutions subsidiaries.
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GOVERNANCE
The Group
Management Board
The Group Management Board compound of the COMEX, the main
International Managers and Managers of Support functions,
comprises15 people among whom 4 are women
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Al
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