APC 2010 Annual Report Download - page 271

ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETING
SUPERVISORY BOARD’S COMMENTS ONTHEMANAGEMENT BOARD’S REPORT, MADE IN ACCORDANCE WITHARTICLE L
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2. Supervisory Board’s comments
ontheManagement Board’s
report, made in accordance
witharticle L.225-68
oftheFrenchCommercial Code
The Supervisory Board would like to take this opportunity to
express its great appreciation of the Group’s teams headed by the
Management Board with which it has a relationship of considerable
confi dence.
The Group’s results for 2010 refl ect an impressive performance:
•sales of nearly EUR20billion, an increase of 24% (or 9.3% like-
for-like) over 2009;
•operating margin before restructuring costs and the cost of
integrating Areva Distribution amounting to 15.6% (16.2%
before the impact of the consolidation of Areva Distribution), up
2.8points over 2009;
•net profi t of EUR1,720million, exceeding the Group’s historical
high point achieved in 2008.
These successes are the fruit of the Group’s strategy focused on
energy effi ciency, developing solutions, strong presence in the new
economies, a new customer-driven organisation and committed and
capable teams.
The Supervisory Board salutes the hard work and commitment of the
entire corporate community in achieving this performance.
It is pleased to be able to propose the appointment or ratifi cation,
as members of the Supervisory Board, of the following candidates
who will provide the Board with a younger and more international
composition and enhance its capabilities: Betsy Atkins, Dominique
Sénéquier, Jeong H. Kim and Anand Mahindra.
In conclusion, the Supervisory Board recommends that shareholders
approve the resolutions tabled by the Management Board.
2010 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 269
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