Escolar Documentos
Profissional Documentos
Cultura Documentos
COMPTE DE RESULTAT
Vente de biens et services produits
vente de marchandises
CHIFFRE D'AFFAIRES
dont l'exportation (% du CA)
Immobilisation produite par l'entreprise elle-mme
Variation de stocks de produits
PRODUCTION (100%)
achats de matires et d'approvisionnements
- variation de stocks de matires et d'approvisionnements
consommation de matires et d'approvisionnements
achats de marchandises
- variation de stocks marchandises
cot d'achat des marchandises vendues
Consommation
MARGE BRUTE SUR CONSOMMATION DE MATIERES ET MARCHANDISES
autres charges externes
VALEUR AJOUTEE
Charges de personnel
impt et taxes
Autres charges d'exploitation
subventions d'exploitation
dotations aux provisions sur actif circulant
autres dotations aux provisions d'exploitation
reprises sur provisions sur actifs circulants
autres reprises sur provisions d'exploitation
dotations aux provisions d'exploitation nettes des reprises
autres produits d'exploitation
autres charges d'exploitation
soldes des autres produits et charges d'exploitation
EXCEDENT BRUT D'EXPLOITATION
dotations aux amortissements
reprises sur amortissements
dotations aux amortissements nettes des reprises
dotations aux provisions sur actifs immobiliss
reprises sur provisions sur actifs immobiliss
dotations aux provisions sur actifs immobiliss nettes des reprises
RESULTAT D'EXPLOITATION
Charges d'intrts
Pertes de change
Autres charges financires
charges financires
produits financiers
gains de change
produits financiers sur actif immobilis
produits financiers
produits sur cession de titres de placement
charge sur cession de titres de placement
solde + ou - values cessions de titres de placement
dotations aux provisions financires
reprises sur provisions financires
dotations aux provisions financires nettes des reprises
2007
926,986,000.00
0.00
926,986,000.0
0.00
0.00
950,972,000.0
1,877,958,000.0
1,640,220,000.0
0.00
1,640,220,000.0
0.00
0.00
0.00
1,640,220,000.00
237,738,000.00
16,293,000.0
221,445,000.00
38,710,000.00
291,000.00
1,250,000.00
0.00
0.00
0.00
0.00
0.00
0.00
22,624,000.00
1,250,000.00
21,374,000.00
203,818,000.00
19,672,000.00
135,805,000.00
-116,133,000.00
0.00
0.00
0.00
319,951,000.00
10,605,000.00
0.00
0.00
10,605,000.00
0.00
0.00
37,310,000.00
37,310,000.00
0.00
0.00
0.00
0.00
0.00
0.00
2008
1,189,061,925.08
0.00
1,189,061,925.1
0.00
0.00
973,821,727.87
2,162,883,653.0
1,737,714,623.01
0.00
1,737,714,623.0
0.00
0.00
0.00
1,737,714,623.01
425,169,029.94
30,718,217.35
394,450,812.59
66,542,656.97
151,698.76
700,000.00
0.00
0.00
0.00
0.00
0.00
0.00
4,458,210.49
700,000.00
3,758,210.49
331,514,667.35
53,564,681.75
88,648,255.25
-35,083,573.50
0.00
0.00
0.00
366,598,240.85
32,806,050.70
203,653.93
0.00
33,009,704.63
0.00
201,556.87
58,579,984.89
58,781,541.76
0.00
0.00
0.00
RESULTAT FINANCIER
RESULTAT COURANT
plus (moins) values de cession
subventions d'quilibre
reprises sur subventions d'investissement
autres produits exceptionnels
reprises exceptionnelles
valeurs nettes d'amort des immob cdes
subventions accordes
autres charges exceptionnelles
dotations exceptionnelles aux amort & aux prov
RESULTAT AVANT IMPOT
rsultat des socits mises en quivalence
impt sur les bnfices
amortissement de la survaleur
RESULTAT NET
rsultat revenant aux intrts minoritaires
26,705,000.00
346,656,000.00
22,916,000.00
0.00
0.00
22,465,000.00
1,758,000.00
4,747,000.00
0.00
3,043,000.00
2,500,000.00
383,505,000.00
0.00
129,455,000.00
0.00
254,050,000.00
0.00
25,771,837.13
392,370,077.98
239,800,000.00
0.00
0.00
350,068.17
2,069,028.87
110,450,000.00
0.00
55,222.31
0.00
524,083,952.71
0.00
137,374,740.00
0.00
386,709,212.71
0.00
254,050,000.00
107,832,700.00
386,709,212.71
221,535,195.10
2007
0.00
60,420,000.00
0.00
60,420,000.00
354,000.00
0.00
0.00
2,142,000.00
2,496,000.00
204,000.00
9,054,000.00
0.00
1,000.00
4,608,000.00
0.00
0.00
13,867,000.00
15,083,000.00
77,000.00
557,156,000.00
0.00
572,316,000.00
0.00
0.00
0.00
649,099,000.00
0.00
1,292,046,000.00
591,214,000.00
0.00
90,320,000.00
1,973,580,000.00
78,867,000.00
7,732,000.00
8,189,000.00
90,517,000.00
657,442,000.00
284,378,000.00
16,293,000.00
1,143,418,000.00
0.00
1,004,674,000.00
2008
0.00
45,314,646.37
0.00
45,314,646.37
124,843.75
0.00
0.00
1,705,303.34
1,830,147.09
204,344.47
9,915,855.55
0.00
0.00
9,587,050.82
27,000.00
0.00
19,734,250.84
7,991,915.73
76,579.50
882,705,879.00
0.00
890,774,374.23
0.00
0.00
0.00
957,653,418.53
0.00
1,730,684,283.49
939,711,579.34
0.00
279,438,391.20
2,949,834,254.03
79,990,090.29
539,322,653.53
4,723,608.16
233,841,605.14
215,537,728.74
433,368,373.16
2,276,580.94
1,509,060,639.96
35,686.48
991,093,109.72
4,121,672,000.00
768,000.00
284,395,000.00
13,000.00
285,176,000.00
5,055,947,000.00
1,840,800,000.00
0.00
1,881,216,000.00
0.00
12,521,000.00
10,088,000.00
0.00
3,578,000.00
0.00
254,049,000.00
4,002,252,000.00
3,664,000.00
0.00
3,664,000.00
0.00
0.00
0.00
647,000.00
16,875,000.00
17,522,000.00
0.00
0.00
0.00
4,023,438,000.00
273,897,000.00
304,090,000.00
2,503,000.00
1,345,000.00
125,855,000.00
500,000.00
292,181,000.00
2,541,000.00
1,002,912,000.00
0.00
0.00
1,002,912,000.00
0.00
0.00
29,597,000.00
29,597,000.00
5,055,947,000.00
3,974,788,200.00
4,995,527,000.00
1,032,509,000.00
-11,770,200.00
3,974,788,200.00
4,005,916,000.00
42,898,000.00
4,133,301,160.27
6,556,216,348.34
2,421,696,655.49
1,218,532.58
4,133,301,160.27
4,132,065,850.40
-2,453,842.45
BILAN
frais prliminaires
charges repartir sur plusieurs exercices
prime de rembourssemenet des emprunts obligataires
immobilisations en non valeur
immobilisations en recherches et developpement
marques, brevets, fonds de commerce
fonds commercial
autres
immobilisations incorporelles
terrains
constructions
installations techniques matriel, outillage ...
materiel de transport
mobilier materiel de bureau et amnag divers
autres immob corporelles
immobilisations corporelles en cours
immobilisations corporelles
prets immobiliss
autres crances financires
titres de participation
autres titres immobiliss
immobilisations financires
diminition des creances immobilises
augmentation des dettes de financement
ecart de convertion actif
ACTIF IMMOBILISE
stock de marchandises
stock de matires et fournitures consommables
stock de produits en cours
produits intern,et prod resid
produits finis
stock total
Fourniss, dbiteur, avances et accomptes
Clients et CR
Personnel
Etat
Comptes assoc
Autres dbiteurs
Comptes de rgul actif
Crances de l'actif circultant
Ecart de conversion actif
TVP
ACTIF CIRCULANT
Chques et val encaisser
Banque TG et CP
Caisse regies d'avances et accreditifs
TRESORERIES ACTIF
TOTAL ACTIF
PASSIF
capital social
Actionnaires, CSNA, C.APP. Non verse
prime d'emission, de fusion,
ecart de reevaluation
reserve legale
autres reserves
reserves reglementees
report nouveau
resultats net en instance d'affectation
resultats net de l exercice
capitaux propres
subventionsd'investissment
provisions reglements
capitaux propres assimils
emprunts obigataire
autres dettes de financement
dettes de financement
provisions pour risques
provisons pour charges
provisions durables pour risques et charges
augmentation des crances immobilises
dimunition des dettes de financement
ecart de convertion passif
TOTAL FINANCEMENT PERMANENT
Fournisseurs et CR
client crditeurs, avances et acomptes
personnel
organismes sociaux
Etat
comptes d'associs
autres cranciers
compte de rgularisation passif
Dettes du passif circulant
autres provisions pour risques et charges
ecart de convertion passif
TOTAL PASSIF CIRCULANT
Crdits d'escompte
crdits de trsorerie
banque (solde crditeur)
TOTAL TRSORERIE PASSIF
TOTAL PASSIF
VE
Prix par action
variation (en %)
28.27%
0.00%
28.27%
0.00%
0.00%
2.40%
15.17%
5.94%
0.00%
5.94%
0.00%
0.00%
0.00%
5.94%
78.84%
88.54%
78.13%
71.90%
-47.87%
-44.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-80.29%
-44.00%
-82.42%
62.65%
172.29%
-34.72%
-69.79%
0.00%
0.00%
0.00%
14.58%
209.35%
0.00%
0.00%
211.27%
0.00%
100.00%
57.01%
57.55%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-3.49%
13.19%
946.43%
0.00%
0.00%
-98.44%
17.69%
2226.73%
0.00%
-98.19%
-100.00%
36.66%
0.00%
6.12%
0.00%
52.22%
0.00%
52.22%
105.44%
2009
1,611,234,091.99
0.00
1,611,234,092.0
0.00
0.00
870,036,689.73
2,481,270,781.7
2,270,807,271.04
0.00
2,270,807,271.0
0.00
0.00
0.00
2,270,807,271.04
210,463,510.68
49,151,956.56
161,311,554.12
77,003,777.77
3,472,316.28
0.00
0.00
0.00
0.00
0.00
0.00
0.00
672,094.76
0.00
672,094.76
81,507,554.83
42,546,411.65
395,895,204.63
-353,348,792.98
0.00
0.00
0.00
434,856,347.81
33,139,868.06
188,424.74
59,098,677.72
92,426,970.52
200,000,000.00
192,434.42
18,588,998.17
218,781,432.59
0.00
0.00
0.00
0.00
0.00
0.00
2009
0.00
30,209,764.24
0.00
30,209,764.24
0.00
0.00
0.00
2,379,128.10
2,379,128.10
204,344.47
9,145,007.79
0.00
128,067.25
9,949,733.48
27,000.00
0.00
19,454,152.99
4,755,810.61
76,579.50
1,208,838,224.00
0.00
1,213,670,614.11
0.00
0.00
0.00
1,265,713,659.44
0.00
2,138,184,176.08
840,289,346.27
0.00
871,094,364.20
3,849,567,886.55
107,209,404.30
1,052,491,644.80
3,697,482.26
323,951,074.82
581,513,934.94
891,309,791.99
2,907,991.75
2,963,081,324.86
0.00
0.00
5,450,023,690.19
489,010.23
193,376,780.77
23,781.47
193,889,572.47
6,601,566,681.19
variation en %
0.00%
-25.00%
0.00%
-25.00%
-64.73%
0.00%
0.00%
-20.39%
-26.68%
0.17%
9.52%
0.00%
-100.00%
108.05%
100.00%
0.00%
42.31%
-47.01%
-0.55%
58.43%
0.00%
55.64%
0.00%
0.00%
0.00%
47.54%
0.00%
33.95%
58.95%
0.00%
209.39%
49.47%
1.42%
6875.20%
-42.32%
158.34%
-67.22%
52.39%
-86.03%
31.98%
100.00%
-1.35%
32.23%
-36.33%
-32.00%
82.93%
-32.01%
30.57%
1,840,800,000.00
0.00
1,881,216,000.00
0.00
25,223,518.77
11,845,826.91
0.00
43,810,614.71
0.00
327,574,848.23
4,130,470,808.62
0.00
1,595,041.78
1,595,041.78
0.00
0.00
0.00
847,450.00
16,939,771.97
17,787,221.97
0.00
0.00
0.00
4,149,853,072.37
551,279,324.11
898,509,781.89
11,889,310.37
1,935,052.40
103,149,808.38
505,346.00
380,901,018.64
4,121,637.95
1,952,291,279.74
29,994,157.89
22,795.44
1,982,308,233.07
0.00
0.00
469,405,375.75
469,405,375.75
6,601,566,681.19
0.00%
0.00%
0.00%
0.00%
101.45%
17.42%
0.00%
1124.44%
0.00%
28.94%
3.20%
-100.00%
100.00%
-56.47%
0.00%
0.00%
0.00%
30.98%
0.38%
1.51%
0.00%
0.00%
0.00%
3.14%
101.27%
195.47%
375.00%
43.87%
-18.04%
1.07%
30.36%
62.21%
94.66%
100.00%
100.00%
97.66%
0.00%
0.00%
1485.99%
1485.99%
30.57%
0.00
0.00
0.00
variation en %
35.50%
0.00%
35.50%
0.00%
0.00%
-10.66%
14.72%
30.68%
0.00%
30.68%
0.00%
0.00%
0.00%
30.68%
-50.50%
60.01%
-59.10%
15.72%
2188.95%
-100.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-84.92%
-100.00%
-82.12%
-75.41%
-20.57%
346.59%
907.16%
0.00%
0.00%
0.00%
18.62%
1.02%
-7.48%
0.00%
180.00%
0.00%
-4.53%
-68.27%
272.19%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
390.28%
43.03%
-2.00%
0.00%
0.00%
-100.00%
-59.04%
-0.27%
0.00%
4885.89%
0.00%
24.88%
0.00%
33.55%
0.00%
21.80%
0.00%
21.80%
-122.10%
2010
1,940,272,428.95
0.00
1,940,272,429.0
0.00
0.00
305,439,259.85
2,245,711,688.8
1,771,904,882.61
0.00
1,771,904,882.6
0.00
0.00
0.00
1,771,904,882.61
473,806,806.19
67,153,118.32
406,653,687.87
87,996,066.65
993,324.08
0.00
0.00
0.00
0.00
0.00
0.00
0.00
622,764.88
0.00
622,764.88
318,287,062.02
28,853,654.23
177,315,555.01
-148,461,900.78
0.00
0.00
0.00
466,748,962.80
50,015,824.80
171,434.29
0.00
50,187,259.09
50,000,000.00
205,047.42
38,721,392.91
88,926,440.33
0.00
0.00
0.00
15,000,000.00
45,854,632.18
-30,854,632.18
2010
0.00
31,740,632.18
0.00
31,740,632.18
0.00
0.00
0.00
3,722,650.47
3,722,650.47
204,344.47
9,719,780.65
0.00
0.00
8,560,811.76
27,000.00
0.00
18,511,936.88
140,124.14
76,579.50
1,238,638,224.00
0.00
1,238,854,927.64
6,812,649,211.41
0.00
223,483,031.67
20,307.23
223,503,338.90
8,301,866,209.75
variation en %
0.00%
-33.33%
0.00%
-33.33%
-100.00%
0.00%
0.00%
39.51%
30.00%
0.00%
-7.77%
0.00%
100.00%
3.78%
0.00%
0.00%
-1.42%
-40.49%
0.00%
36.95%
0.00%
36.25%
0.00%
0.00%
0.00%
32.17%
0.00%
23.55%
-10.58%
0.00%
211.73%
30.50%
34.03%
95.15%
-21.72%
38.53%
169.80%
105.67%
27.74%
96.35%
-100.00%
-100.00%
25.00%
-100.00%
15.57%
-14.61%
15.27%
25.76%
1,840,800,000.00
0.00
1,881,216,000.00
0.00
41,602,261.18
13,914,855.78
0.00
76,817,691.66
0.00
555,038,630.65
4,409,389,439.27
19,683,644.60
747,500.30
20,431,144.90
0.00
0.00
0.00
58,332,210.23
15,517,188.21
73,849,398.44
0.00
0.00
0.00
4,503,669,982.61
1,074,162,338.22
1,291,134,211.86
16,055,409.47
1,569,415.54
146,675,084.41
505,192.15
256,932,051.62
40,281,396.92
2,827,315,100.19
32,502,115.90
0.00
2,859,817,216.09
0.00
0.00
938,379,011.05
938,379,011.05
8,301,866,209.75
0.00%
0.00%
0.00%
0.00%
64.93%
17.47%
0.00%
75.34%
0.00%
69.44%
6.75%
100.00%
-53.14%
1180.92%
0.00%
0.00%
0.00%
6783.26%
-8.40%
315.18%
0.00%
0.00%
0.00%
8.53%
94.85%
43.70%
35.04%
-18.90%
42.20%
-0.03%
-32.55%
877.32%
44.82%
8.36%
-100.00%
44.27%
0.00%
0.00%
99.91%
99.91%
25.76%
126,354,462.07
561,210,809.88
235,000,000.00
0.00
10,316,355.40
0.00
847,541.48
110,150,000.00
0.00
2,753,320.92
40,000,000.00
654,471,385.84
0.00
183,459,230.00
0.00
471,012,155.84
0.00
471,012,155.84
-48,949,349.51
variation en %
20.42%
0.00%
20.42%
0.00%
0.00%
-64.89%
-9.49%
-21.97%
0.00%
-21.97%
0.00%
0.00%
0.00%
-21.97%
125.13%
36.62%
152.09%
14.27%
-71.39%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-7.34%
0.00%
-7.34%
290.50%
-32.18%
-55.21%
-57.98%
0.00%
0.00%
0.00%
7.33%
50.92%
-9.02%
-100.00%
-45.70%
-75.00%
6.55%
108.30%
-59.35%
0.00%
0.00%
0.00%
100.00%
100.00%
-100.00%
-44.92%
-4.43%
-99.97%
0.00%
-37.41%
100.00%
-14.09%
-99.81%
0.00%
699.59%
-100.00%
-18.39%
0.00%
-18.09%
0.00%
-18.51%
0.00%
-18.51%
-464.18%
2011
2,450,960,168.23
0.00
2,450,960,168.2
0.00
0.00
353,402,938.12
2,804,363,106.4
2,317,182,698.05
0.00
2,317,182,698.1
0.00
0.00
0.00
2,317,182,698.05
487,180,408.30
51,811,710.61
435,368,697.69
91,967,434.69
2,590,968.60
7,626,727.46
0.00
0.00
0.00
0.00
0.00
0.00
842,603.21
7,626,727.46
-6,784,124.25
334,026,170.15
30,166,500.01
183,858,112.99
-153,691,612.98
0.00
0.00
0.00
487,717,783.13
106,485,621.96
91,644.97
0.00
106,577,266.93
100,000,000.00
38,500.73
60,250,034.75
160,288,535.48
0.00
0.00
0.00
0.00
55,754,588.43
-55,754,588.43
2011
0.00
12,476,812.54
0.00
12,476,812.54
0.00
0.00
0.00
6,626,643.60
6,626,643.60
204,344.47
10,581,306.64
0.00
9,562.50
8,141,690.18
27,000.00
866,769.50
19,830,673.29
708,013.27
169,732.59
2,091,538,824.00
0.00
2,092,416,569.86
8,351,645,390.75
8,001,868.26
783,196,016.17
44,038.69
791,241,923.12
10,435,717,461.04
variation en %
0.00%
5.07%
0.00%
5.07%
0.00%
0.00%
0.00%
56.47%
56.47%
0.00%
6.29%
0.00%
-100.00%
-13.96%
0.00%
#DIV/0!
-4.84%
-97.05%
0.00%
2.47%
0.00%
2.08%
0.00%
0.00%
0.00%
2.14%
0.00%
3.22%
42.42%
0.00%
-7.09%
9.44%
162.92%
53.73%
-80.61%
44.44%
105.20%
-36.72%
340.63%
39.67%
0.00%
0.00%
22.59%
100.00%
250.45%
116.86%
254.02%
25.70%
8,312,157,389.23
3,340,515.00
733,189,661.52
136,750.06
736,666,926.58
11,180,175,015.10
variation en %
0.00%
-60.69%
0.00%
-60.69%
0.00%
0.00%
0.00%
78.01%
78.01%
0.00%
8.86%
0.00%
100.00%
-4.90%
0.00%
100.00%
7.12%
405.28%
121.64%
68.86%
0.00%
68.90%
0.00%
0.00%
0.00%
64.86%
0.00%
-0.88%
-3.41%
0.00%
61.38%
10.36%
0.67%
-21.06%
29.84%
10.01%
-34.44%
13.80%
225.85%
-14.40%
0.00%
100.00%
-0.47%
-58.25%
-6.38%
210.52%
-6.90%
7.13%
1,840,800,000.00
0.00
1,881,216,000.00
0.00
69,354,192.71
14,762,397.26
0.00
290,320,849.30
0.00
383,828,639.19
4,480,282,078.46
13,226,663.87
19,348.82
13,246,012.69
1,500,000,000.00
0.00
1,500,000,000.00
58,342,983.03
19,297,980.21
77,640,963.24
0.00
0.00
0.00
6,071,169,054.39
1,137,276,806.32
2,023,639,549.86
18,624,097.16
2,207,641.50
167,201,291.56
200,545,192.15
443,750,969.87
17,489,870.16
4,010,735,418.58
32,710,486.98
0.00
4,043,445,905.56
0.00
0.00
321,101,501.09
321,101,501.09
10,435,716,461.04
0.00%
0.00%
0.00%
0.00%
66.71%
6.09%
0.00%
277.93%
0.00%
-30.85%
1.61%
-32.80%
-97.41%
-35.17%
100.00%
0.00%
100.00%
0.02%
24.37%
5.13%
0.00%
0.00%
0.00%
34.80%
5.88%
56.73%
16.00%
40.67%
13.99%
39596.81%
72.71%
-56.58%
41.86%
0.64%
0.00%
41.39%
0.00%
0.00%
-65.78%
-65.78%
25.70%
1,840,800,000.00
0.00
1,881,216,000.00
0.00
88,545,624.67
15,312,869.76
0.00
323,063,584.03
0.00
438,414,821.36
4,587,352,899.82
8,987,302.41
0.00
8,987,302.41
1,500,000,000.00
65,000,000.00
1,565,000,000.00
55,370,883.73
17,054,572.21
72,425,455.94
0.00
0.00
0.00
6,233,765,658.17
1,534,894,242.23
2,182,666,052.68
19,461,066.60
159,181.99
271,246,861.65
545,252.16
483,445,146.50
105,015,206.82
4,597,433,010.63
37,909,225.45
0.00
4,635,342,236.08
0.00
0.00
311,067,120.85
311,067,120.85
11,180,175,015.10
0.00%
0.00%
0.00%
0.00%
27.67%
3.73%
0.00%
11.28%
0.00%
14.22%
2.39%
-32.05%
-100.00%
-32.15%
0.00%
100.00%
4.33%
-5.09%
-11.63%
-6.72%
0.00%
0.00%
0.00%
2.68%
34.96%
7.86%
4.49%
-92.79%
62.23%
-99.73%
8.95%
500.43%
14.63%
15.89%
0.00%
14.64%
0.00%
0.00%
-3.12%
-3.12%
7.13%
69,593,813.42
536,342,776.22
71,200.00
0.00
6,456,980.73
12,724,961.24
728,151.48
213,601.24
0.00
22,015,239.24
0.00
534,095,229.19
0.00
150,266,590.00
0.00
383,828,639.19
0.00
383,828,639.19
178,262,373.18
0.00
0.00
0.00
1,292,830,147.17
0.00
2,206,933,497.15
1,196,748,723.18
0.00
809,364,082.37
4,213,046,302.70
281,879,543.29
1,618,012,601.59
717,014.79
467,923,020.93
1,193,239,250.48
564,014,235.04
12,813,421.93
4,138,599,088.05
0.00
0.00
4,476,990,465.77
8,271,656,445.51
3,765,694,111.24
28,971,868.50
4,476,990,465.77
4,429,820,584.17
-76,141,750.10
4,544,582,859.97
10,403,976,828.86
5,831,836,919.67
27,557,049.22
4,544,581,859.97
4,493,528,091.15
-78,610,818.04
109,465,856.98
597,183,640.11
75,570.00
0.00
4,239,361.46
1,959,212.66
19,348.82
0.00
0.00
210,395.00
7,000,000.00
596,266,738.05
0.00
149,978,500.00
0.00
446,288,238.05
0.00
446,288,238.05
187,710,835.21
0.00
0.00
0.00
2,131,350,699.29
0.00
2,187,449,908.60
1,155,940,848.07
0.00
1,306,157,395.48
4,649,548,152.15
283,780,708.90
1,277,196,427.80
930,995.04
514,763,998.39
782,331,120.78
641,853,546.69
41,752,439.48
3,542,609,237.08
0.00
120,000,000.00
variation en %
26.32%
0.00%
26.32%
0.00%
0.00%
15.70%
24.88%
30.77%
0.00%
30.77%
0.00%
0.00%
0.00%
30.77%
2.82%
-22.85%
7.06%
4.51%
160.84%
100.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
35.30%
100.00%
-1189.36%
4.94%
4.55%
3.69%
3.52%
0.00%
0.00%
0.00%
4.49%
112.90%
-46.54%
100.00%
112.36%
100.00%
-81.22%
55.60%
80.25%
0.00%
0.00%
0.00%
-100.00%
21.59%
80.70%
57.29%
11.34%
6.14%
0.00%
-34.34%
-84.60%
-97.34%
-100.00%
0.00%
-99.04%
100.00%
11.64%
0.00%
-0.19%
0.00%
16.27%
0.00%
16.27%
5.30%
4,662,144,519.70
11,167,698,202.56
6,473,500,131.48
32,053,551.38
4,662,144,519.70
4,596,340,202.23
-97,857,868.85
2,584,355,191.54
140.39
rentabilit exige
TSR
Beta
prime de risque
cout des capitaux propres
taux d'impot
taux de la dette
cout de la dettes
12.52%
3.26%
1.06
8.74%
12.52%
30%
5.0%
0
CMCP
12.52%
3.26%
1.06
8.74%
12.52%
30%
5.0%
0%
12.52%
12.52%
2007
3,974,788,200.00
0.03
129,578,095.32
38,873,428.60
90,704,666.72
254,050,000.00
163,345,333.28
88.87%
145,164,367.26
145,164,367.26
2008
4,133,301,160.27
0.03
134,745,617.82
40,423,685.35
94,321,932.48
386,709,212.71
292,387,280.23
78.98%
230,921,868.94
376,086,236.20
12.52%
3.26%
1.06
8.74%
12.52%
30%
5.0%
0%
12.52%
3.26%
1.06
8.74%
10.64%
30%
5.0%
0.3754%
12.52%
2009
4,476,990,465.77
0.03
145,949,889.18
43,784,966.76
102,164,922.43
471,012,155.84
368,847,233.41
70.19%
258,884,716.78
634,970,952.98
2010
4,544,582,859.97
0.03
148,153,401.24
44,446,020.37
103,707,380.86
383,828,639.19
280,121,258.33
65.83%
184,413,718.75
819,384,671.73
nombre d'actions
12.52%
3.26%
1.06
8.74%
10.61%
30%
5.0%
0.889%
11.02%
11.50%
2011
4,662,144,519.70
0.03
151,985,911.34
45,595,773.40
106,390,137.94
446,288,238.05
339,898,100.11
58.02%
197,211,282.68
1,016,595,954.41
1,016,595,954.41
5,678,740,474.12
18,408,000.00
308.49
2007
3,974,788,200
12.52%
446,288,238
3,563,350,244.72
-411,437,955
-205,718,978
-205,718,978
3,769,069,222
18,408,000
204.752
Indicateurs fondamentaux
Secteur dactivit
Immobilier
Ciment
Ciment
Ciment
Profils en Aluminium
Ronds bton et fils
machines
Peinture de btiments
construction
Mtallurgie
CGI
Immobilier
2,450,960,168.23
Total secteur
20,451,166,421.38
Rsultat Net
2011(MDH)
1,834,953,547.00
975,900,000.00
575,290,000.00
1,660,417,000.00
58,781,979.47
106,700,000.00
54,000,000.00
-118,232,869.00
13,291,418.96
446,288,238.05
3,326,147,529.43
dettes
Actif
Resultat d'ex p
Fonds P ropres
DIVIDENDES
Nombre d'action
2011(MD H)
financir es
conomique
apres impot
10,518,238,171.00
1.50
315,000,000
5,827,145,372
25,672,145,372
2,193,457,368.00
5,785,043,000.00
35.00
14,436,004
1,983,250,000
2,892,718,252
1,257,961,000
1,848,361,659.46
130.00
4,210,000
1,796,712,459
2,061,942,459
1,103,225
5,094,585,000.00
66.00
17,469,113
30,333,093
1,130,887,212
2,348,789,000
465,954
36,119,770
65,474,872
77,246,676
380,973,969.16
120.00
3,900,000
433,619,511
679,319,511
164,388,373
1,372,138,960.63
0.00
292,417,093.02
3.00
9,000,000
31,657,114
598,657,114
104,108,269
428,750
137,768,979
164,780,229
(101,713,836)
13,909,616.40
0.00
367,844,245.14
5.00
1,438,984
6,437,737
97,093,729
20,293,615
4,587,352,899.82
15,155,273,543.81
19
2,768,130,998.00
18,408,000
1,211,825,650
384,756,805
###
24,291,800,365
33,363,018,750.74
Facteur d'imposiiton
Indicateurs Boursiers
Douja Promotion (Groupe ADDOHA)
Ciments du Maroc
Holcim
Lafarge Maroc
Aluminium du Maroc
Sonasid
Colorado
Mdiaco
Fnie-Brossette
Total secteur
La Socit CGI
Capitalisation
B oursire au
31/12/2011
PER 2011
P/B 2011
19,845,000,000.00
909,468,252.00
265,230,000.00
1,100,554,119.00
29,355,102.00
245,700,000.00
567,000,000.00
27,011,250.00
90,655,992.00
23,079,974,715.00
Applica tion du
PER se ctoriel 2 011
10.81
0.93
0.46
0.66
0.50
2.30
10.50
0.00
6.82
3.67
Application du
P/B s ectoriel 20 11
1,636,068,795.81
Valeur globale
Valeur de l'action
2,584,355,191.54
140.39
2,584,355,191.54
Applica tion du
P/DIV sec tor ie l 20 11
VE/CA
42.00
1.80
0.48
0.95
0.53
21.00
12.60
8.34
Applic ation du
VE/C A s ectoriel 201 1
487,717,783
6,065,633,689.58
0.70
VE/Rex
2.751
0.729
0.590
0.203
0.085
0.124
0.953
4.511
0.195
1.631
16.720
3.285
2670.019
0.688
1.211
5.903
8.215
-2.314
6.835
7.858
Application du
VE/NOPATse ctoriel 2 011
3,998,374,878.24
3,832,301,872.76
2009
1,611,234,092
561,210,810
126,354,462
434,856,348
3,237,956,323
1,265,713,659
3,952,831,995
5,218,545,655
(714,875,672)
4,429,820,584
788,725,071
5,218,545,655
variation en %
35.50%
43.03%
390.28%
18.62%
1.43%
32.17%
13.99%
17.92%
159.47%
7.21%
168.91%
17.92%
140.39
Mthode du GoodWill
Mthode des praticiens(indirecte)
5,678,740,474.12
3,769,069,222.36
308.49
204.75
4,723,904,848.24
256.62
15,609,984,000.00
848.00
-11,955,853,980.11
-649.49
Mthode du PER
Mthode P/B
Mthode P/dividende
Mthode du coeiff VE/CA
Mthode du coeiff VE/Rex
1,636,068,795.81
6,986,082,344.91
2,916,143,535.96
3,998,374,878.24
3,832,301,872.76
88.88
379.51
158.42
217.21
208.19
3,873,794,285.54
210.44
15,609,984,000.00
848.00
-11,736,189,714.46
-637.56
1.89
0.16
0.14
0.22
0.08
0.18
1.94
1.94
0.25
1.52
6,986,082,344.91
2,916,143,535.96
3,873,794,285.54
210.44
P/Dividende
3,654,130,019.89
198.51
3,873,794,285.54
210.44
2007
926,986,000
346,656,000
26,705,000
319,951,000
3,374,339,000
649,099,000
3,118,760,000
3,767,859,000
255,579,000
4,005,916,000
(238,057,000)
3,767,859,000
2008 variation en %
1,189,061,925
28.27%
392,370,078
13.19%
25,771,837
-3.49%
366,598,241
14.58%
3,192,199,654
-5.40%
957,653,419
47.54%
3,467,715,457
11.19%
4,425,368,876
17.45%
(275,515,803)
-207.80%
4,132,065,850
3.15%
293,303,025
-223.21%
4,425,368,876
17.45%
30.00%
30.00%
5.94%
6.06%
0.11%
-7.85%
-0.06
27.41%
39.14%
26.18%
5.80%
6.65%
0.85%
6.15%
0.07
32.52%
40.38%
23.10%
30.00%
-0.15%
0.59%
0.73%
14.00%
13.04%
5.12%
1.24%
-3.08%
5.83%
8.87%
3.04%
11.21%
0.18
29.23%
37.21%
24.38%
2010
1,940,272,429
536,342,776
69,593,813
466,748,963
4,778,338,907
1,292,830,147
4,308,199,485
5,601,029,632
470,139,422
4,493,528,091
1,107,501,541
5,601,029,632
variation en %
20.42%
-4.43%
-44.92%
7.33%
47.57%
2.14%
8.99%
7.33%
-165.77%
1.44%
40.42%
7.33%
30.00%
0.03%
2.22%
2.19%
5.06%
10.71%
-3.29%
-3.17%
1.28%
5.83%
8.36%
2.52%
4.40%
0.25
19.78%
29.69%
19.35%
2011
2,450,960,168
597,183,640
109,465,857
487,717,783
4,102,414,959
2,131,350,699
3,676,815,153
5,808,165,852
425,599,806
4,596,340,202
1,211,825,650
5,808,165,852
variation en %
26.32%
11.34%
57.29%
4.49%
-14.15%
64.86%
-14.66%
3.70%
-9.47%
2.29%
9.42%
3.70%
30.00%
0.00%
-0.51%
-0.51%
-6.82%
6.84%
-9.45%
-7.52%
-5.03%
5.88%
9.09%
3.22%
6.32%
0.26
18.21%
20.94%
17.06%
0.04%
0.74%
0.70%
1.92%
1.72%
-1.57%
-8.75%
-2.29%
24.60%
94.06%
6.06%
0.00%
410.97%
214.19%
99.56%
0.00%
34.52%
26.87%
107.10%
6.65%
0.00%
274.93%
126.13%
99.57%
0.00%
30.83%
2007
20.00%
2.5023031632
50.0963895087
519.8001243736
0.0093455804
2008
20.00%
137.960833092
96.4950125852
733.3358313655
0.0081009599
2.27%
13.04%
0.59%
0.00%
-136.04%
-88.06%
0.01%
0.00%
-3.68%
variation en %
5413.35%
92.62%
41.08%
-13.32%
30.88%
117.80%
8.87%
0.00%
238.22%
103.61%
98.36%
0.00%
26.99%
4.01%
10.71%
2.22%
0.00%
-36.71%
-22.51%
-1.21%
0.00%
-3.84%
34.64%
124.65%
8.36%
14.37%
206.55%
102.35%
74.01%
471.27%
24.06%
3.77%
6.84%
-0.51%
14.37%
-31.67%
-1.26%
-24.35%
471.27%
-2.93%
42.20%
126.37%
9.09%
14.00%
179.32%
79.01%
73.73%
468.53%
19.90%
7.56%
1.72%
0.74%
-0.38%
-27.23%
-23.34%
-0.28%
-2.75%
-4.16%
2009
20.00%
198.6879975323
143.8802764295
732.3445490942
0.0068147074
0.05%
0.00%
44.02%
49.11%
-0.14%
-15.88%
2010
20.00%
253.6476281924
195.2258829752
1027.1634897724
0.0061678044
variation en %
0.00%
27.66%
35.69%
40.26%
-9.49%
2011
20.00%
158.5013845423
201.4790054051
866.8305712015
0.0041670916
variation en %
0.00%
-37.51%
3.20%
-15.61%
-32.44%
Structure Bilancielle
Fond de roulement (FR)
Besoin fond de roulement
TN
2007
3,374,339,000.00
3,118,760,000.00
255,579,000.00
2008
3,192,199,653.84
3,467,715,457.12
-275,515,803.28
La structure du CPC
6,000,000,000.00
5,000,000,000.00
Fond
4,000,000,000.00
Beso
3,000,000,000.00
TN
2,000,000,000.00
1,000,000,000.00
0.00
-1,000,000,000.00
Structure de Rsultat
2007
PRODUCTION (100%)
MARGE BRUTE
VALEUR AJOUTEE
EXCEDENT BRUT D'EXPLOITATIO
RESULTAT NET
CASHS FLOWS
2008
1,877,958,000.0
237,738,000.00
221,445,000.00
203,818,000.00
254,050,000.00
107,832,700.00
2,162,883,653.0
425,169,029.94
394,450,812.59
331,514,667.35
386,709,212.71
221,535,195.10
La structure du bilan
3,000,000,000.0
2,500,000,000.0
2,000,000,000.0
PRODUCTION (100%)
MARG
VALEUR AJOUTEE
EXCED
D'EXP
RESULTAT NET
CASH
1,500,000,000.0
1,000,000,000.0
500,000,000.0
(500,000,000.0)
500,000,000.0
(500,000,000.0)
2008
926,986,000.00
0.00
950,972,000.00
1,189,061,925.08
0.00
973,821,727.87
135,805,000.00
88,648,255.25
22,624,000.00
4,458,210.49
2,036,387,000.00
2,255,990,118.69
2008
1,640,220,000.00
1,737,714,623.01
16,293,000.00
30,718,217.35
Charges de personnel
38,710,000.00
66,542,656.97
impt et taxes
Autres charges d'exploitation
Dotations d'exploitation
291,000.00
1,250,000.00
19,672,000.00
151,698.76
700,000.00
53,564,681.75
1,716,436,000.00
1,889,391,877.84
VALEUR AJOUTEE
2007
221,445,000.00
2008
394,450,812.59
2007
203,818,000.00
2008
331,514,667.35
PRODUITS D'EXPLOITATION
2007
2,036,387,000.00
926,986,000.00
1,716,436,000.00
319,951,000.00
34.52%
2008
2,255,990,118.69
1,189,061,925.08
1,889,391,877.84
366,598,240.85
30.83%
PRODUITS FINANCIERS
CHARGES FINANCIERES
RESULTAT FINANCIER
2007
37,310,000.00
10,605,000.00
26,705,000.00
2008
58,781,541.76
33,009,704.63
25,771,837.13
2007
47,139,000.00
10,290,000.00
36,849,000.00
2008
242,219,097.04
110,505,222.31
131,713,874.73
RESULTAT D'EXPLOITATION
RESULTAT FINANCIER
RESULTAT COURANT
RESULTAT NON COURANT
RESULTAT AVANT IMPOT
IMPOT
RESULTAT NET
2007
319,951,000.00
26,705,000.00
346,656,000.00
36,849,000.00
383,505,000.00
115,051,500.00
268,453,500.00
2008
366,598,240.85
25,771,837.13
392,370,077.98
131,713,874.73
524,083,952.71
157,225,185.81
366,858,766.90
2007
60420000
2496000
13867000
572316000
2008
45314646.37
1830147.09
19734250.84
890774374.23
649099000
957653418.53
stock total
Crances de l'actif circultant
Ecart de conversion actif
TVP
ACTIF CIRCULANT
2007
1973580000
1143418000
0
1004674000
4121672000
2008
2949834254.03
1509060639.96
35686.48
991093109.72
5450023690.19
Analyse du stock
stock de marchandises
stock de matires et fournitures
consommables
stock de produits en cours
produits intern,et prod resid
produits finis
achat consomm
ratio de rotation de stock
2007
0
1,292,046,000.00
591,214,000.00
0.00
90,320,000.00
1,640,220,000.00
519.80
2008
0
1,730,684,283.49
939,711,579.34
0.00
279,438,391.20
1,737,714,623.01
733.34
2007
Fourniss, dbiteur, avances et
accomptes
Clients et CR
Personnel
Etat
Comptes assoc
Autres dbiteurs
Comptes de rgul actif
CA
Dlais de rglement clients
78,867,000.00
7,732,000.00
8,189,000.00
90,517,000.00
657,442,000.00
284,378,000.00
16,293,000.00
926,986,000.00
2.50
2008
79,990,090.29
539,322,653.53
4,723,608.16
233,841,605.14
215,537,728.74
433,368,373.16
2,276,580.94
1,189,061,925.08
137.96
2007
768,000.00
284,395,000.00
2008
489,010.23
193,376,780.77
13,000.00
23,781.47
capitaux propres
capitaux propres assimils
dettes de financement
provisions durables pour risques
et charges
ecart de convertion passif
2007
4,002,252,000.00
3,664,000.00
0.00
2008
4,130,470,808.62
1,595,041.78
0.00
17,522,000.00
0.00
17,787,221.97
0.00
capital social
prime d'emission, de fusion,
reserve legale
autres reserves
report nouveau
resultats net de l exercice
capitaux propres
2007
1,840,800,000.00
1,881,216,000.00
12,521,000.00
10,088,000.00
3,578,000.00
254,049,000.00
4,002,252,000.00
2008
1,840,800,000.00
1,881,216,000.00
25,223,518.77
11,845,826.91
43,810,614.71
327,574,848.23
4,130,470,808.62
subventions d'investissement
provisions reglements
capitaux propres assimils
2007
3,664,000.00
0.00
3,664,000.00
2008
0.00
1,595,041.78
1,595,041.78
dettes de financement
2007
0.00
2008
0.00
2008
17,522,000.00
17,787,221.97
Fournisseurs et CR
client crditeurs, avances et
acomptes
personnel
organismes sociaux
Etat
comptes d'associs
autres cranciers
compte de rgularisation passif
autres provisions pour risques et
charges
ecart de convertion passif
passif circulant
2007
273,897,000.00
2008
551,279,324.11
304,090,000.00
2,503,000.00
1,345,000.00
125,855,000.00
500,000.00
292,181,000.00
898,509,781.89
11,889,310.37
1,935,052.40
103,149,808.38
505,346.00
380,901,018.64
2,541,000.00
4,121,637.95
0.00
0.00
1,002,912,000.00
29,994,157.89
22,795.44
1,982,308,233.07
Crdits d'escompte
crdits de trsorerie
banque (solde crditeur)
trsorerie actif
2007
0.00
0.00
29,597,000.00
29,597,000.00
2008
0.00
0.00
469,405,375.75
469,405,375.75
e Bilancielle
2009
3,237,956,323.17
3,952,831,995.32
-714,875,672.15
2010
4,778,338,907.22
4,308,199,485.19
470,139,422.03
2011
4,102,414,958.88
3,676,815,153.15
425,599,805.73
ucture du CPC
e de Rsultat
2009
2010
2,481,270,781.7
210,463,510.68
161,311,554.12
81,507,554.83
471,012,155.84
-48,949,349.51
2011
2,245,711,688.8
473,806,806.19
406,653,687.87
318,287,062.02
383,828,639.19
178,262,373.18
ure du bilan
PRODUCTION (100%)
MARGE BRUTE
VALEUR AJOUTEE
EXCEDENT BRUT
D'EXPLOITATION
RESULTAT NET
CASHS FLOWS
2,804,363,106.4
487,180,408.30
435,368,697.69
334,026,170.15
446,288,238.05
187,710,835.21
2009
28.27%
var
1,611,234,091.99
0.00%
2.40%
0.00
870,036,689.73
2010
35.50%
0.00%
-10.66%
1,940,272,428.95
0.00
305,439,259.85
-34.72%
395,895,204.63
346.59%
177,315,555.01
-80.29%
672,094.76
-84.92%
622,764.88
10.78%
2,877,838,081.11
27.56%
2,423,650,008.69
2009 Variation
2010
5.94%
2,270,807,271.04
30.68%
1,771,904,882.61
88.54%
49,151,956.56
60.01%
67,153,118.32
71.90%
77,003,777.77
15.72%
87,996,066.65
-47.87%
-44.00%
172.29%
3,472,316.28
0.00
42,546,411.65
2188.95%
-100.00%
-20.57%
993,324.08
0.00
28,853,654.23
10.08%
2,442,981,733.30
29.30%
1,956,901,045.89
var
78.13%
2009 var
161,311,554.12
-59.10%
2010
406,653,687.87
-75.41%
2010
318,287,062.02
2009 var
81,507,554.83
se du rsultat d'exploitation
var
10.78%
28.27%
10.08%
14.58%
-3.68%
2009 var
2,877,838,081.11
1,611,234,091.99
2,442,981,733.30
434,856,347.81
26.99%
2010
27.56%
2,423,650,008.69
35.50% 1,940,272,428.95
29.30% 1,956,901,045.89
18.62% 466,748,962.80
-3.84%
24.06%
2009 var
218,781,432.59
92,426,970.52
126,354,462.07
272.19%
180.00%
390.28%
2010
88,926,440.33
50,187,259.09
38,739,181.24
1.63%
38.37%
-29.19%
2010
19,981,293.45
22,228,840.48
-2,247,547.03
2009 var
434,856,347.81
126,354,462.07
561,210,809.88
93,260,575.96
654,471,385.84
196,341,415.75
458,129,970.09
18.62%
390.28%
43.03%
-29.19%
24.88%
24.88%
24.88%
2010
466,748,962.80
38,739,181.24
505,488,144.04
-2,247,547.03
503,240,597.01
150,972,179.10
352,268,417.91
2009 var
30209764.24
2379128.1
19454152.99
1213670614.11
-33.33%
30.00%
-1.42%
36.25%
2010
31740632.18
3722650.47
18511936.88
1238854927.64
var
57.55%
211.27%
-3.49%
2009 var
246,163,896.88
152,903,320.92
93,260,575.96
var
-25.00%
-26.68%
42.31%
55.64%
47.54%
1265713659.44
32.17%
1292830147.17
2009 var
3849567886.55
2963081324.86
0
0
6812649211.41
30.50%
96.35%
-100.00%
-100.00%
25.00%
2010
4213046302.7
4138599088.05
0
0
8351645390.75
2009 var
0
0.00%
2010
0
var
49.47%
31.98%
100.00%
-1.35%
32.23%
Analyse du stock
var
0.00%
33.95%
58.95%
0.00%
209.39%
5.94%
41.08%
2,138,184,176.08
840,289,346.27
0.00
871,094,364.20
2,270,807,271.04
732.34
23.55% 2,206,933,497.15
-10.58% 1,196,748,723.18
0.00%
0.00
211.73%
809,364,082.37
30.68% 1,771,904,882.61
-0.14%
1,027.16
var
2009 var
1.42%
6875.20%
-42.32%
158.34%
-67.22%
52.39%
-86.03%
28.27%
5413.35%
107,209,404.30
1,052,491,644.80
3,697,482.26
323,951,074.82
581,513,934.94
891,309,791.99
2,907,991.75
1,611,234,091.99
198.6879975323
2010
34.03%
281,879,543.29
95.15% 1,618,012,601.59
-21.72%
717,014.79
38.53%
467,923,020.93
169.80% 1,193,239,250.48
105.67%
564,014,235.04
27.74%
12,813,421.93
35.50% 1,940,272,428.95
44.02%
253.65
var
-36.33%
-32.00%
2009 var
0.00
223,483,031.67
-100.00%
15.57%
2010
8,001,868.26
783,196,016.17
82.93%
20,307.23
-14.61%
44,038.69
e du financement permanent
var
3.20%
-56.47%
0.00%
1.51%
0.00%
2009 var
4,409,389,439.27
20,431,144.90
0.00
73,849,398.44
0.00
2010
6.75% 4,480,282,078.46
1180.92%
13,246,012.69
0.00% 1,500,000,000.00
315.18%
0.00%
77,640,963.24
0.00
2009 var
1,840,800,000.00
1,881,216,000.00
41,602,261.18
13,914,855.78
76,817,691.66
555,038,630.65
4,409,389,439.27
0.00%
0.00%
64.93%
17.47%
75.34%
69.44%
6.75%
2010
1,840,800,000.00
1,881,216,000.00
69,354,192.71
14,762,397.26
290,320,849.30
383,828,639.19
4,480,282,078.46
2009 var
19,683,644.60
747,500.30
20,431,144.90
100.00%
-53.14%
1180.92%
2010
13,226,663.87
19,348.82
13,246,012.69
var
0.00%
0.00%
101.45%
17.42%
1124.44%
28.94%
3.20%
var
0.00%
2009 var
0.00
2010
0.00% 1,500,000,000.00
2009 var
2010
1.51%
73,849,398.44
315.18%
77,640,963.24
2009 var
1,074,162,338.22
195.47%
375.00%
43.87%
-18.04%
1.07%
30.36%
1,291,134,211.86
16,055,409.47
1,569,415.54
146,675,084.41
505,192.15
256,932,051.62
62.21%
40,281,396.92
100.00%
100.00%
0.98
32,502,115.90
0.00
2,859,817,216.09
2010
94.85% 1,137,276,806.32
43.70% 2,023,639,549.86
35.04%
18,624,097.16
-18.90%
2,207,641.50
42.20%
167,201,291.56
-0.03%
200,545,192.15
-32.55%
443,750,969.87
877.32%
17,489,870.16
8.36%
32,710,486.98
-100.00%
0.00
0.44
4,043,445,905.56
var
0.00%
0.00%
1485.99%
1485.99%
2009 var
0.00
0.00
938,379,011.05
938,379,011.05
0.00%
0.00%
99.91%
99.91%
2010
0.00
0.00
321,101,501.09
321,101,501.09
3,500,000,000.00
2011
2,450,960,168.23
3,000,000,000.00
2,500,000,000.00
0.00
353,402,938.12
183,858,112.99
Le chiffre d'affaire
Immobilisation produite
par l'entreprise ellemme
Variation de stocks de
produits
autres produits
d'exploitation
total produits
d'exploitation
2,000,000,000.00
1,500,000,000.00
1,000,000,000.00
842,603.21
500,000,000.00
2,989,063,822.55
0.00
3,000,000,000.00
51,811,710.61
2,500,000,000.00
91,967,434.69
2,000,000,000.00
2,590,968.60
7,626,727.46
30,166,500.01
1,500,000,000.00
2,501,346,039.42
Achats de MP
Charges de personnel
impt et taxes
Autres charges
d'exploitation
Dotations d'exploitation
total charges
d'exploitation
1,000,000,000.00
500,000,000.00
0.00
2011
435,368,697.69
VALEUR AJOUTEE
500,000,000.00
400,000,000.00
VALEUR AJOUTEE
300,000,000.00
200,000,000.00
100,000,000.00
2011
334,026,170.15
0.00
2007
2008
2009
2010
2011
EXCEDENT BRUT
D'EXPLOITATION
250,000,000.00
200,000,000.00
150,000,000.00
100,000,000.00
50,000,000.00
0.00
2007
2011
160,288,535.48
106,577,266.93
53,711,268.55
2008
2009
2010
2011
80,000,000.00
2011
6,293,492.94
7,210,395.00
-916,902.06
60,000,000.00
40,000,000.00
20,000,000.00
0.00
2007 2008 2009 2010 2011
2011
487,717,783.13
53,711,268.55
541,429,051.68
-916,902.06
540,512,149.62
162,153,644.89
378,358,504.73
RESULTAT NON
COURANT
80,000,000.00
60,000,000.00
40,000,000.00
20,000,000.00
0.00
2007
-20,000,000.00
2011
12476812.54
6626643.6
19830673.29
2092416569.86
2008
2009
2010
2011
RESULTAT NET
500,000,000.00
450,000,000.00
400,000,000.00
350,000,000.00
300,000,000.00
250,000,000.00
RESULTAT NET
RESULTAT NET
2131350699.29
2011
4649548152.15
3542609237.08
0
120000000
8312157389.23
2011
0
2,187,449,908.60
1,155,940,848.07
0.00
1,306,157,395.48
2,317,182,698.05
866.83
500,000,000.00
450,000,000.00
400,000,000.00
350,000,000.00
300,000,000.00
250,000,000.00
200,000,000.00
150,000,000.00
100,000,000.00
50,000,000.00
-
RESULTAT NET
2007
2008
2009
2010
2011
Actif immobilis
2500000000
immobilisations en non
valeur
2000000000
immobilisations
incorporelles
1500000000
immobilisations
corporelles
1000000000
immobilisations
financires
total actif immobilis
500000000
0
8000000000
stock total
7000000000
Crances de l'actif
circultant
6000000000
Ecart de conversion
actif
5000000000
4000000000
TVP
3000000000
ACTIF CIRCULANT
2000000000
1000000000
0
2007
2008
2009
2010
2011
Analyse du stock
2500000000
2011
3,340,515.00
733,189,661.52
stock de marchandises
stock de matires et
fournitures
consommables
1500000000
stock de produits en
cours
1000000000
produits finis
achat consomm
2000000000
500000000
ratio de rotation de
stock
2500000000
stock de marchandises
stock de matires et
fournitures
consommables
1500000000
stock de produits en
cours
1000000000
produits finis
achat consomm
2000000000
136,750.06
ratio de rotation de
stock
500000000
0
2011
4,587,352,899.82
8,987,302.41
1,565,000,000.00
72,425,455.94
0.00
Fourniss, dbiteur,
avances et accomptes
Clients et CR
2,000,000,000.00
Personnel
Etat
Comptes assoc
Autres dbiteurs
CA
1,500,000,000.00
1,000,000,000.00
500,000,000.00
2011
1,840,800,000.00
1,881,216,000.00
88,545,624.67
15,312,869.76
323,063,584.03
438,414,821.36
4,587,352,899.82
2011
8,987,302.41
0.00
8,987,302.41
2011
1,565,000,000.00
2011
0.00
Dlais de rglement
clients
72,425,455.94
2011
1,534,894,242.23
2,182,666,052.68
19,461,066.60
159,181.99
271,246,861.65
545,252.16
483,445,146.50
105,015,206.82
37,909,225.45
0.00
4,635,342,236.08
2011
0.00
0.00
311,067,120.85
311,067,120.85
tion produite
prise elle-
eprises sur
d'exploitation
its
on
itation
ernes
ation
UR AJOUTEE
TION
TION
EDENT BRUT
PLOITATION
ier
T FINANCIER
SULTAT NON
OURANT
ESULTAT NET
ESULTAT NET
ations en non
ations
es
ations
s
ations
mmobilis
nt
otal
es de l'actif
nt
e conversion
CIRCULANT
matires et
ables
tern,et prod
somm
matires et
ables
tern,et prod
somm
'AC
ts et CR
es dbiteurs
Etude de l'quilibre
TOTAL FINANCEMENT
PERMANENT
ACTIF IMMOBILISE
Fond de roulement (FR)
ACTIF CIRCULANT
TOTAL PASSIF CIRCULANT
Besoin fond de roulement
La trsorerie actif
La trsorerie passif
Trsorerie nette
2007
2008
2009
4,023,438,000.00
649,099,000.00
3,374,339,000.00
4,121,672,000.00
1,002,912,000.00
3,118,760,000.00
285,176,000.00
29,597,000.00
255,579,000.00
4,149,853,072.37
957,653,418.53
3,192,199,653.84
5,450,023,690.19
1,982,308,233.07
3,467,715,457.12
193,889,572.47
469,405,375.75
-275,515,803.28
4,503,669,982.61
1,265,713,659.44
3,237,956,323.17
6,812,649,211.41
2,859,817,216.09
3,952,831,995.32
223,503,338.90
938,379,011.05
-714,875,672.15
Analyse de la Solv
2007
endettement net global (y compris
provisions et dividendes) (D)
-238,057,000.00
2008
293,303,025.25
2009
788,725,070.59
Analyse de liqui
2007
2008
2009
410.97%
274.93%
238.22%
214.19%
126.13%
103.61%
Analyse de l'endet
2007
2008
2009
0.00%
99.56%
0.00%
99.57%
0.00%
98.36%
Analyse de la rent
Rsultat d'exploitation
Rentabilit conomique
Rsultat financier
Rentabilit des capitaux propres
2007
319,951,000.00
5.94%
26,705,000.00
2008
366,598,240.85
5.80%
25,771,837.13
2009
434,856,347.81
5.83%
126,354,462.07
6.06%
6.65%
8.87%
6,000,000,000.00
2010
2011
6,071,169,054.39
1,292,830,147.17
4,778,338,907.22
8,351,645,390.75
4,043,445,905.56
4,308,199,485.19
791,241,923.12
321,101,501.09
470,140,422.03
6,233,765,658.17
2,131,350,699.29
4,102,414,958.88
8,312,157,389.23
4,635,342,236.08
3,676,815,153.15
736,666,926.58
311,067,120.85
425,599,805.73
5,000,000,000.00
4,000,000,000.00
Fond de rouleme
(FR)
3,000,000,000.00
Besoin fond de
roulement
2,000,000,000.00
Trsorerie nette
1,000,000,000.00
0.00
-1,000,000,000.00
Analyse de la Solvabilit :
2011
1,400,000,000.00
1,200,000,000.00
1,107,501,541.21
1,211,825,650.21
1,000,000,000.00
endettement net
global (y compris
provisions et
dividendes) (D)
800,000,000.00
600,000,000.00
Analyse de liquidit :
400,000,000.00
200,000,000.00
2010
2011
206.55%
179.32%
102.35%
79.01%
0.00
-200,000,000.00 2007 2008 2009 2010 2011
-400,000,000.00
Liquidit
700.00%
Ratio de liquidit
rduite= Actifs
Circulant - Stoc
Passifs Circulan
600.00%
500.00%
400.00%
Analyse de l'endettement
2010
2011
471.27%
74.01%
468.53%
73.73%
Ratio de liquidit
gnral= Actifs
Circulant / Pass
Circulant
300.00%
200.00%
100.00%
0.00%
2007
2008
2009
2010
2011
Analyse de la rentabilit :
Endettement
500.00%
450.00%
400.00%
350.00%
Remboursement
dettes LT
Endettement
2010
466,748,962.80
5.83%
69,593,813.42
2011
487,717,783.13
5.88%
109,465,856.98
8.36%
9.09%
500.00%
450.00%
400.00%
350.00%
300.00%
250.00%
200.00%
150.00%
100.00%
50.00%
0.00%
Remboursement
dettes LT
Ratio d'autonomie
financire
2007
2008
2009
2010
2011
Evolution de la Re et Rcp
16.00%
14.00%
Rentabilit de
capitaux prop
12.00%
10.00%
Rentabilit
conomique
8.00%
6.00%
4.00%
2.00%
0.00%
2007
2008
2009
2010
2011
e financier
Fond de roulement
(FR)
5,000,000,000.00
Besoin fond de
roulement
4,000,000,000.00
Trsorerie nette
en MDHS
3,000,000,000.00
2,000,000,000.00
1,000,000,000.00
011
0.00
2007
5,000,000,000.00
4,500,000,000.00
4,000,000,000.00
3,500,000,000.00
3,000,000,000.00
2,500,000,000.00
2,000,000,000.00
1,500,000,000.00
1,000,000,000.00
500,000,000.00
0.00
2007
2009
2010
400,000,000.00
200,000,000.00
en DHS
0.00
2007
-200,000,000.00
-600,000,000.00
-800,000,000.00
Remboursement des
dettes LT
2008
600,000,000.00
-400,000,000.00
ent
20
Trsorerie nette
Ratio de liquidit
rduite= Actifs
Circulant - Stocks/
Passifs Circulant
11
2009
en Dhs
Ratio de liquidit
gnral= Actifs
Circulant / Passif
Circulant
2008
2008
2009
2010
ent
Remboursement des
dettes LT
Ratio d'autonomie
financire
11
Re et Rcp
011
Rentabilit des
capitaux propres
Rentabilit
conomique
nt (FR)
2009
2010
2011
lement
2009
2010
2011
tte
2009
2010
2011