Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Resultats Exercice 2012 Air France KLM

Resultats Exercice 2012 Air France KLM

Ratings: (0)|Views: 29|Likes:
Published by Eric Veillo

More info:

Published by: Eric Veillo on Feb 22, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

03/05/2013

pdf

text

original

 
6LWHLQWHUQHW
ZZZDLUIUDQFHNOPFRP

Le 22 février 2013
(;(5&,&(
48$75,(0(75,0(675(
+DXVVHGHGXFKLIIUHG¶DIIDLUHVjPLOOLDUGVG¶HXURVKRUVFKDQJH
%DLVVHGHGXFRWXQLWDLUHjFKDQJHHWSUL[GXFDUEXUDQWFRQVWDQWV
5pGXFWLRQGHODSHUWHG¶H[SORLWDWLRQPLOOLRQVG¶HXURVFRQWUHPLOOLRQVG¶HXURVDXGpFHPEUH
5(68/7$76$118(/6
+DXVVHGHGXFKLIIUHG¶DIIDLUHVjPLOOLDUGVG¶HXURVKRUVFKDQJH
$XJPHQWDWLRQGHPLOOLRQVG¶HXURVGHODIDFWXUHSpWUROLqUH
5pGXFWLRQGHODSHUWHG¶H[SORLWDWLRQPLOOLRQVG¶HXURVFRQWUHPLOOLRQVG¶HXURVDXGpFHPEUH
5pVXOWDWQHWQpJDWLIGHPLOOLDUGG¶HXURVDSUqVPLOOLRQVGHFKDUJHVGHUHVWUXFWXUDWLRQ
'HWWHQHWWHUDPHQpHjPLOOLDUGVG¶HXURVPLOOLDUGVG¶HXURVXQDQSOXVW{W
2%-(&7,)
3RXUVXLWHGHODUpGXFWLRQGHVFRWVXQLWDLUHVHWGHODGHWWHQHWWH
/H&RQVHLOGDGPLQLVWUDWLRQGHODVRFLpWp$LU)UDQFH./0VRXVODSUpVLGHQFHGH-HDQ&\ULO6SLQHWWDV¶HVWUpXQLOHIpYULHUSRXUDUUrWHUOHVFRPSWHVDQQXHOVGHO¶H[HUFLFH-HDQ&\ULO6SLQHWWDDIDLWOHVFRPPHQWDLUHVVXLYDQWV©
L’année 201
2, caractérisée par un ralen-tissement de la croissance mondiale et une situation de récession en Europe, a cependant enregistréune forte augmentation du prix du pétrole. Dans ce contexte très difficile, nos résultats sont conformes à nos prévisions, les premiers effets du plan Transform ayant permis une réduction de la
 perte d’exploitation.
 
L’année
2012 a surtout été celle de la restauration de tous nos fondamentaux, préalableindispensable au redressement de notre groupe. Notre cadre social a été rénové, de nouveaux projetsindustriels ont été décidés pour chacun de nos métiers, nos coûts ont été réduits et notre situationfinancière a été améliorée.En 2013, nous maintiendrons une stricte discipline dans la gestion de nos capacités et la maîtrise denos investissements et de nos coûts. Ce sera auss
i l’année de la mise en œuvre de tous nos projets.C’est donc une année cruciale pour 
la réussite du Plan Transform et le retour à une rentabilité pérenne. Au nom du Conseil,
 je voudrais remercier l’ensemble des salariés du groupe pour leur engagement et le travail qu’ils ont accompli au cours de ces douze derniers mois.
»
$FKDQJHHWSUL[GXFDUEXUDQWFRQVWDQWV
 
2
&KLIIUHVFOpV
(QPLOOLRQVG¶HXURVVDXIOHUpVXOWDWSDUDFWLRQHQHXUR
7ULPHVWUHDXGpFHPEUH([HUFLFHDXGpFHPEUH
Variation
3URIRUPD
Variation
&KLIIUHGDIIDLUHV
4,6%
5,2%
(%,7'$5
14,4%
9,7%
5pVXOWDWGH[SORLWDWLRQFRXUDQW
ns
ns
5pVXOWDWGH[SORLWDWLRQDMXVWp
ns
ns
5pVXOWDWQHWSDUWGXJURXSH
ns
ns
5pVXOWDWQHWSDUDFWLRQ

ns
ns
5pVXOWDWQHWSDUDFWLRQGLOXp
ns
ns
5pVXOWDWQHWSDUDFWLRQDYDQWFKDUJHVGHUHVWUXFWXUDWLRQ
-
ns
4XDWULqPHWULPHVWUH
$FWLYLWpSRXUVXLWHGXFRQWU{OHGHVFDSDFLWpV
/¶DFWLYLWpSDVVDJHDFRQWLQXpG¶DPpOLRUHUVDSHUIRUPDQFHDXqPHWULPHVWUHFRQWUDLUHPHQWjO¶DFWLYLWpFDUJR/¶DFWLYLWp
SDVVDJH
DHQUHJLVWUpXQWUDILFVWDEOHGHVFDSDFLWpVHQEDLVVHGHHWXQFRHIILFLHQWG¶RFFXSDWLRQjSRLQW/DUHFHWWHXQLWDLUHDXVLqJHNLORPqWUHRIIHUW56.2HVWHQKDXVVHGHHWGHKRUVFKDQJH/HFKLIIUHG¶DIIDLUHVV¶pOqYHjPLOOLDUGVG¶HXURVDSUqVXQHIIHWGHFKDQJHIDYRUDEOHGH/HUpVXOWDWG¶H[SORLWDWLRQGHO¶DFWLYLWpSDVVDJHUHVVRUWjPLOOLRQVG¶HXURVPLOOLRQVG¶HXURVDXGpFHPEUHDSUqVXQHDXJPHQWDWLRQGHODIDFWXUHSpWUROLqUHGHPLOOLRQVG¶HXURV/DEDLVVHGXWUDILF
FDUJR
DpWpHQOLJQHDYHFFHOOHGHVFDSDFLWpVDPHQDQWXQHTXDVLVWDELOLWpGXFRHIILFLHQWGHUHPSOLVVDJHjSRLQW/DUHFHWWHXQLWDLUHjODWRQQHNLORPqWUHRIIHUWH57.2HVWHQDXJPHQWDWLRQGHKRUVFKDQJH/DIDLEOHVVHGHVYROXPHVDSHVpVXUOHFKLIIUHG¶DIIDLUHVTXLV¶pOqYHjPLOOLRQVG¶HXURV/DSHUWHG¶H[SORLWDWLRQV¶pOqYHjPLOOLRQVG¶HXURVFRQWUHXQUpVXOWDWjO¶pTXLOLEUHXQDQSOXVW{W/¶DFWLYLWp
PDLQWHQDQFH
DGpJDJpXQFKLIIUHG¶DIIDLUHVGHPLOOLRQVG¶HXURVPLOOLRQVG¶HXURVXQDQSOXVW{WHWXQUpVXOWDWG¶H[SORLWDWLRQGHPLOOLRQVPLOOLRQVG¶HXURVDX
qPH
WULPHVWUH/HFKLIIUHDIIDLUHVGHV
DXWUHVDFWLYLWpV
pWDEOLWjPLOOLRQVHXURVHWOHUpVXOWDWG¶H[SORLWDWLRQjPLOOLRQVPLOOLRQVG¶HXURVXQDQSOXVW{W/HFKLIIUHG¶DIIDLUHVWRWDOGXJURXSHV¶pOqYHjPLOOLDUGVG¶HXURVFRQWUHPLOOLDUGVG¶HXURVDXGpFHPEUHVRLWXQHKDXVVHGHDSUqVXQHIIHWGHFKDQJHIDYRUDEOHGH
5pGXFWLRQGHODSHUWHG¶H[SORLWDWLRQ
/HVFKDUJHVG¶H[SORLWDWLRQRQWpWpELHQFRQWU{OpHVDSUqVXQHIIHWGHFKDQJHGpIDYRUDEOHGH+RUVFDUEXUDQWHOOHVQHSURJUHVVHQWTXHGH0HVXUpHQpTXLYDOHQWVLqJHNLORPqWUHRIIHUW(6.2OHFRWXQLWDLUHSURJUHVVHGHPDLVEDLVVHGHjFKDQJHHWSUL[GXFDUEXUDQWFRQVWDQWVSRXUXQHSURGXFWLRQPHVXUpHHQ(6.2HQUHWUDLWGH/HVSULQFLSDOHVDXJPHQWDWLRQVFRQFHUQHQWOHVFKDUJHVG¶H[SORLWDWLRQjGRPLQDQWHGROODUFDUEXUDQWOR\HUVRSpUDWLRQQHOVHWHQWUHWLHQDpURQDXWLTXH(QHIIHWFHOXLFLV¶HVWDSSUpFLpGHDXFRXUVGXWULPHVWUH/DIDFWXUHFDUEXUDQWDDXJPHQWpGHPLOOLRQVjPLOOLDUGG¶HXURVVRXVOHVHIIHWVFRPELQpVG¶XQHEDLVVHGHVYROXPHVGHG¶XQHIIHWGHFKDQJHGpIDYRUDEOHGHHWG¶XQHEDLVVHGXSUL[GXFDUEXUDQWDSUqVFRXYHUWXUHGH/HVFKDUJHVGHSHUVRQQHOSURJUHVVHQWGHjPLOOLDUGG¶HXURVDSUqVODFRPSWDELOLVDWLRQFKH]./0G¶XQHFKDUJHFRPSOpPHQWDLUHGHUHWUDLWHGHPLOOLRQVG¶HXURVGXHDX[K\SRWKqVHVDFWXDULHOOHVUHWHQXHVDXGpFHPEUH
 
1
5pVXOWDWG¶H[SORLWDWLRQDYDQWDPRUWLVVHPHQWVSURYLVLRQVHWOR\HUVRSpUDWLRQQHOV
2
5pVXOWDWG¶H[SORLWDWLRQDMXVWpGHODSDUWGHVOR\HUVRSpUDWLRQQHOVFRUUHVSRQGDQWDX[IUDLVILQDQFLHUV
 
3
/HUpVXOWDWGH[SORLWDWLRQHVWQpJDWLIGHPLOOLRQVG¶HXURVPLOOLRQVG¶HXURVXQDQSOXVW{W/HUpVXOWDWG¶H[SORLWDWLRQDMXVWpHVWQpJDWLIGHPLOOLRQVG¶HXURV3DUDLOOHXUVOHJURXSHDFRPSWDELOLVpXQHSURYLVLRQFRPSOpPHQWDLUHGHUHVWUXFWXUDWLRQGHPLOOLRQVG¶HXURVHQFKDUJHVQRQFRXUDQWHV/HFRWGHOHQGHWWHPHQWILQDQFLHUQHWEDLVVHG¶XQHGL]DLQHGHPLOOLRQVG¶HXURVjPLOOLRQVG¶HXURV/HVDXWUHVFKDUJHVHWSURGXLWVILQDQFLHUVHQUHJLVWUHQWXQVROGHSRVLWLIGHPLOOLRQVPLOOLRQVDX
qPH
WULPHVWUHGRQWPLOOLRQVG¶HXURVGHUpVXOWDWGHFKDQJH/HUpVXOWDWQHWSDUWGXJURXSHHVWQpJDWLIGHPLOOLRQVHXURVPLOOLRQVHXURVDXGpFHPEUH/HUpVXOWDWQHWSDUDFWLRQGHEDVHHWGLOXpUHVVRUWjHXURHXURDYDQWFKDUJHGHUHVWUXFWXUDWLRQ
5pVXOWDWVDQQXHOV
/¶DFWLYLWpSDVVDJHDHQUHJLVWUpXQWUDILFHWGHVFDSDFLWpVHQKDXVVHUHVSHFWLYHPHQWGHHWGH/HFRHIILFLHQWG¶RFFXSDWLRQDJDJQpSRLQWj/DUHFHWWHXQLWDLUHDXVLqJHNLORPqWUHRIIHUW56.2HVWHQKDXVVHGHHWGHKRUVFKDQJH'DQVDFWLYLWpFDUJROHWUDILFDIRUWHPHQWFKXWpSRXUGHVFDSDFLWpVHQEDLVVHGHDPHQDQWDLQVLXQUHFXOGHSRLQWGXFRHIILFLHQWGHUHPSOLVVDJHj/DUHFHWWHXQLWDLUHjODWRQQHNLORPqWUHRIIHUWH57.2HVWVWDEOHPDLVEDLVVHGHKRUVFKDQJH/HFKLIIUHG¶DIIDLUHVWRWDOV¶pOqYHjPLOOLDUGVG¶HXURVDSUqVXQHIIHWGHFKDQJHIDYRUDEOHGH/HVFKDUJHVH[SORLWDWLRQVRQWHQKDXVVHGHKRUVFDUEXUDQWHWGHDSUqVFDUEXUDQWHWXQHIIHWGHFKDQJHGpIDYRUDEOHGH/DSULQFLSDOHYDULDWLRQHVWODIDFWXUHFDUEXUDQWTXLDXJPHQWHGHPLOOLRQVHXURVjPLOOLDUGVHXURVHQUDLVRQSULQFLSDOHPHQWGHO¶DSSUpFLDWLRQGXGROODU/HVFKDUJHVGHSHUVRQQHOGHPLOOLDUGVG¶HXURVSURJUHVVHQWGHDSUqVPLOOLRQVHXURVGHFKDUJHFRPSOpPHQWDLUHGHUHWUDLWHFKH]./0GXHDX[K\SRWKqVHVDFWXDULHOOHVUHWHQXHVDXGpFHPEUH/HUpVXOWDWG¶H[SORLWDWLRQV¶pOqYHjPLOOLRQVG¶HXURVPLOOLRQVG¶HXURVDXGpFHPEUHHWOHUpVXOWDWG¶H[SORLWDWLRQDMXVWpHVWSRVLWLIGHPLOOLRQVG¶HXURV/HFRWGHODGHWWHQHWWHDEDLVVpjPLOOLRQVG¶HXURVFRQWUHPLOOLRQVG¶HXURVXQDQSOXVW{W/HVDXWUHVSURGXLWVHWFKDUJHVILQDQFLHUVVRQWSDVVpVG¶XQHFKDUJHGHPLOOLRQVG¶HXURVjXQSURGXLWGHPLOOLRQVG¶HXURVGRQWXQUpVXOWDWGHFKDQJHSRVLWLIGHPLOOLRQVG¶HXURVPLOOLRQVG¶HXURVDXGpFHPEUHHWXQHYDULDWLRQSRVLWLYHGHODYDOHXUGHVLQVWUXPHQWVGHFRXYHUWXUHGHPLOOLRQVG¶HXURVPLOOLRQVG¶HXURVSRXUO¶H[HUFLFH&RPSWHWHQXGHFHVpOpPHQWVHWGHODSURYLVLRQGHUHVWUXFWXUDWLRQGHPLOOLRQVG¶HXURVOHUpVXOWDWQHWSDUWGXJURXSHHVWQpJDWLIGHPLOOLDUGG¶HXURVPLOOLRQVG¶HXURVXQDQSOXVW{W/HUpVXOWDWQHWSDUDFWLRQGHEDVHHWGLOXpHVWQpJDWLIGHHXURVHXURVXQDQSOXVW{W+RUVSURYLVLRQGHUHVWUXFWXUDWLRQOHUpVXOWDWQHWSDUDFWLRQHVWGHHXURVHXURVDXGpFHPEUH
%DLVVHGHODGHWWHQHWWH
/HVLQYHVWLVVHPHQWVVHVRQWpOHYpVjPLOOLDUGG¶HXURVHWOHVFHVVLRQVjPLOOLRQVG¶HXURVPLOOLDUGVHWPLOOLDUGG¶HXURVVXUO¶H[HUFLFH$FHVLQYHVWLVVHPHQWVV¶DMRXWHQWXQPRQWDQWGHPLOOLRQVGHWUDQVDFWLRQVQRQPRQpWDLUHV/HFDVKIORZRSpUDWLRQQHOHVWSRVLWLIGHPLOOLRQVG¶HXURV/HJURXSHGLVSRVHG¶XQHWUpVRUHULHGHPLOOLDUGVG¶HXURVHWGHOLJQHVGHFUpGLWHQWLqUHPHQWGLVSRQLEOHVGHPLOOLDUGG¶HXURV/HKROGLQJ$LU)UDQFH./0DSODFpXQHpPLVVLRQREOLJDWDLUHSRXUPLOOLRQVG¶HXURVDXWDX[GHjpFKpDQFH/HVFDSLWDX[SURSUHVV¶pOqYHQWjPLOOLDUGVG¶HXURV/DGHWWHQHWWHHVWSDVVpHGHPLOOLDUGVG¶HXURVDXGpFHPEUHjPLOOLDUGVG¶HXURVDXGpFHPEUHJUkFHQRWDPPHQWjODFHVVLRQXQHSDUWLHGHVWLWUHV$PDGHXV6RXVHIIHWGHODEDLVVHGHVFDSLWDX[SURSUHVOHUDWLRG¶HQGHWWHPHQW
HVWHQDXJPHQWDWLRQFRQWUHDXGpFHPEUH(QUHYDQFKHOHVUDWLRVILQDQFLHUVGHFRXYHUWXUHVRQWHQDPpOLRUDWLRQHWOHJURXSHUHVSHFWHWRXVVHVFRYHQDQWV
 
3
D
pILQLWLRQGDQVOHGRFXPHQWGHUpIpUHQFHSDJH7DEOHDXGHUpFRQFLOLDWLRQGLVSRQLEOHGDQVODSUpVHQWDWLRQGHVUpVXOWDWV

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->