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  • Thermador Groupe - Company governance
    is a listed company the Auditors mission is framed by A M F procedures At this stage we have already had three control phases of which one from outside the company the Auditors The Board of Directors according to these controls acts as guarantor for the Annual General Meeting of shareholders which is the legally sovereign body Currently the Board of Directors serves as an audit committee and dedicates two meetings during the year to auditing and approving the accounts half yearly and annual These meetings are preceded by a detailed report audit drawn up by the Financial Director Marylène Boyer and sent ahead of the meeting to board members It should be noted that some of our board members have a financial background qualifications practice and experience of audits 3 Earnings According to our practices there is no earnings committee but once a year at the end of the year the Board reviews executives earnings comprising monthly salary and endof year bonus The final decisions are down to the Boards of the subsidiaries concerned for the Managers of the subsidiaries At this meeting the Board members take decisions on executives salaries This is a delicate exercise but we have always managed to find a coherent and reasonable consensus on salary levels The Chairman and CEO and the Deputy CEO of the group receive salaries from their subsidiary which re invoices on to Thermador Groupe the part which corresponds to their group services on to Thermador Groupe In 2013 gross earnings allocated for the financial year including all direct and indirect benefits for each corporate representative of the group consolidating company and controlled companies included according to article 357 1 of the law on commercial companies to Members of the Board on account of their functions totalled 1 895 million divided up as mentioned above Table of earnings in thousands of Euros Earnings correspond to a corporate mandate except for Marylène Boyer who has an employment contract The variable portion depends on the company s performance for those working for the subsidiaries or on the Group s performance for group functions The level of achievement required for these quantitative criteria was established in a precise manner but cannot be made public for reasons of confidentiality since they reflect internal annual results Managers have no fringe benefits car etc The earnings indicated on the table above are therefore salary only 4 Attendance fees Executive Board members do not receive attendance fees In 2013 independent board members received 1 650 per Board meeting on condition that they were present Guy Vincent received 8 250 Milena Negri 8 250 and Karine Gaudin 8 250 Their attendance rate was 100 In addition to the time spent at the Board meetings they studied detailed reports of all the subsidiaries every month and attended the annual presentation of projects so as to keep in touch with our companies The Annual General Meeting of April 2nd 2012 voted an overall maximum annual amount of 30 000 in

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/group/company-governance (2014-03-04)
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  • Thermador Groupe - Internal control
    is designed to ensure that employees comply with prevailing laws and regulations as well as with the standards and principles of our group so as to avoid any risk of error or fraud 2 Organisation of control procedure 2 1 Within the parent company Thermador Groupe defines and implements the group s development strategy and co ordinates its different business activities Thermador Groupe defines and monitors the proper implementation of consistent rules on accounting legal fiscal and IT issues The same IT system ERP Générix has been used since 2001 allowing us to have consistent exhaustive real time information Resources have been mobilized to maintain constant availability of IT tools and to ensure the integrity and confidentiality of information stored in the company s computer system Thermador Groupe owns all or practically all the capital of its subsidiaries and is present as are its top executives on the Boards of the various subsidiaries Our consolidated accounts are prepared internally This is made easier by the simplicity of our legal structure having a single chart of accounts and isolated movements within the group and common principles for the statement of accounts 2 2 For the subsidiaries the key areas are to do with sales purchasing and margin controls Each subsidiary has a general management team an administrative department a sales department and a purchasing department each is autonomous in the definition and implementation of its strategy in line with the regulations defined within the group Only the Chairman and Managing Director and the administrative department are signatories Cross departmental meetings involving those performing the same roles in the different subsidiaries allow a pooling of experiences and validation of proper implementation of procedures Frequent complete or rotating physical inventories means that discrepancies can be detected and the efficiency of procedures checked We

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/group/internal-control (2014-03-04)
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  • Thermador Groupe - Information on risks
    sustainable development risks We are little affected by the actual nature of our activity distribution The only environmental risk is linked to the consequences of a fire air pollution by toxic fumes or of the underground by effluent So as to guard against these risks and respect regulations the most recent buildings have been equipped with automatic fire protection systems and retention tanks to retrieve any polluted water 3 Credit risks We detailed our customer risk management situation on page 12 as well as in Note 22 of the appendix to the consolidated accounts p 55 We have no credit insurance 4 Foreign exchange risks Around 26 of our purchases primarily in China are settled in US dollars Our policy is to buy dollars the day that we need to settle our invoices Certain subsidiaries use hedging for major suppliers or the purchase of options so as to fix the rate at the time of purchase Mathematically a variation of 10 in the value of the US dollar would have an impact of 4 6 million on our margins In any event the actual purchasing price is incorporated into our cost prices and transferred to our sales price as far as possible We do not therefore consider the differences in exchange rate to be a risk but as part of our cost price 5 Variation in raw material prices It is our manufacturing suppliers who handle the purchase of raw materials included in our products In case of major variations in the prices of certain raw materials copper steel etc we may face increases in our purchase price that we try to pass on as well as we can in our sales price There are so many different cases depending on suppliers and products making precise statistics impossible with the

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/group/information-on-risks (2014-03-04)
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  • Thermador Groupe - Corporate Social Responsibility
    statements Consolidated figures Regulated information Share performance Share price trend Stock exchange data figures Make up of capital Annual General Meeting Relationship shareholders shareholders area Practical information Home Presentation film News Our business Our markets Our business Our suppliers Our French customers Our International customers Subsidiaries Subsidiaries general overview Thermador PBtub Axelair Isocel Sferaco Sectoriel Jetly Dipra Thermador International Opaline Contact News October 15th 2013 release of 3rd quaterly turnover

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/group/corporate-social-responsibility (2014-03-04)
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  • Thermador Groupe - Real estate
    shareholders shareholders area Practical information Home Presentation film News Our business Our markets Our business Our suppliers Our French customers Our International customers Subsidiaries Subsidiaries general overview Thermador PBtub Axelair Isocel Sferaco Sectoriel Jetly Dipra Thermador International Opaline Contact News October 15th 2013 release of 3rd quaterly turnover November 22nd 23rd 2013 Actionaria January 15th 2014 Release of 2013 turnover February 14th 2014 Release of 2013 annual results Home Group

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/group/real-estate (2014-03-04)
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  • Thermador Groupe - Financial statement
    statement Equity variation statements Consolidated figures Regulated information Share performance Share price trend Stock exchange data figures Make up of capital Annual General Meeting Relationship shareholders shareholders area Practical information Home Presentation film News Our business Our markets Our business Our suppliers Our French customers Our International customers Subsidiaries Subsidiaries general overview Thermador PBtub Axelair Isocel Sferaco Sectoriel Jetly Dipra Thermador International Opaline Contact News October 15th 2013 release of

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/financial-information (2014-03-04)
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  • Thermador Groupe - Financial statement
    Equity variation statements Consolidated figures Regulated information Share performance Share price trend Stock exchange data figures Make up of capital Annual General Meeting Relationship shareholders shareholders area Practical information Home Presentation film News Our business Our markets Our business Our suppliers Our French customers Our International customers Subsidiaries Subsidiaries general overview Thermador PBtub Axelair Isocel Sferaco Sectoriel Jetly Dipra Thermador International Opaline Contact News October 15th 2013 release of 3rd

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/financial-information/financial-statement (2014-03-04)
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  • Thermador Groupe - Global consolidated profit statement
    exchange data figures Make up of capital Annual General Meeting Relationship shareholders shareholders area Practical information Home Presentation film News Our business Our markets Our business Our suppliers Our French customers Our International customers Subsidiaries Subsidiaries general overview Thermador PBtub Axelair Isocel Sferaco Sectoriel Jetly Dipra Thermador International Opaline Contact News October 15th 2013 release of 3rd quaterly turnover November 22nd 23rd 2013 Actionaria January 15th 2014 Release of 2013

    Original URL path: http://www2.thermador-groupe.fr/vdoc/easysite/tg/en/mn/financial-information/global-consolidated (2014-03-04)
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