2009 / REFERENCE DOCUMENT ENGINEERING & INNOVATION CONSULTANCY

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1 2009 / REFERENCE DOCUMENT ENGINEERING & INNOVATION CONSULTANCY

2 KEY FIGURES KEY FIGURES FOR THE YEAR 2009 DISTRIBUTION OF REVENUE BY CLIENT BUSINESS SEGMENT (ESTABLISHED OVER 85% OF 2009 REVENUES) 37% Aeronautics 9% Automobile 10% Energy 23% Nuclear 9% Defence 2% Telecom 2% Pharmaceuticals 8% Miscellaneous 1.20% Employee mutual fund (FCP) 3.00% Members of the Supervisory Board and Management Board 2.80% Treasury Stock DISTRIBUTION OF CAPITAL AS OF 31/12/ % CDC Group * 48.00% Public ASSYSTEM SHARE PRICES AND AVERAGE DAILY VOLUMES J09 F09 M09 A09 M09 J09 J09 A09 S09 O09 N09 D09 J10 F10 800, , , , , , , , % D.Louis / HDL Group Volume Highest Lowest *15% held by the FSI and 2.60% by the CDC ASSYSTEM REFERENCE DOCUMENT 2009

3 KEY FIGURES REVENUE BY GEOGRAPHICAL AREA (IN M) REVENUE BY COUNTRY (IN M) REVENUE BY DIVISION (IN M) France Outside France France 73.8 Germany 60.2 United Kingdom 5.8 Italy 8.8 Spain/Portugal 2.1 Romania 28.9 Others Plant Engineering & Operations Aerospace Mechanical Engineering Technology & Product Engineering Others WORKFORCE EVOLUTION WORKFORCE BY COUNTRY WORKFORCE BY DIVISION 8,734 9,275 8,539 6,488 6,753 6,257 2,246 2,522 2, France Outside France 6257 France 859 Germany 492 United Kingdom* 232 India * without subcontractors 149 Italy 151 Spain/Portugal 145 Romania 254 Others Plant Engineering & Operations Aerospace Mechanical Engineering Technology & Product Engineering Others NET DEBT / EQUITY NET DEBT / EBITDA* OPERATING RESULT FROM CONTINUING OPERATIONS (IN M) 19% 14% 1% gathering the Energy & Nuclear and Facilities divisions. 2 gathering the Aeronautics divisions. 3 gathering the Automobile, Industries, Naval & Defence, Technologies and Silver Atena divisions * EBITDA = Operating income + depreciation and amortization + net provisions allocations.

4 2009 REFERENCE DOCUMENT ENGINEERING & INNOVATION CONSULTANCY / CONTENTS Key figures / Flap Profile / 03 Letter from the President of the Supervisory Board / 04 Letter from the President of the Management Board / 05 Corporate Governance / 06 Highlights / ASSYSTEM, INDUSTRIAL ENGINEER / 14 INTERNATIONAL PRESENCE / France / 16 Germany / 18 United Kingdom / 19 Spain / 20 Portugal / 20 Italy / 20 Romania / 21 India / FINANCIAL REPORT / Design & layout: Les Éditions Stratégiques (0) Photos: Assystem - Corbis - Getty Published: May 2010.

5 03 PROFILE ASSYSTEM AN INTERNATIONAL ENGINEERING GROUP / ASSYSTEM is an international engineering and innovation consultancy group with French roots. Our culture of industry, major technological projects and service provision has been built up over our forty year history. OUR MISSION is to help our clients most effectively manage the development of their products and optimise their industrial investments over their lifecycle. WITH OVER 8,500 EMPLOYEES worldwide, we bring our technical, scientific and methodological expertise to bear in leading-edge innovation sectors such as aerospace, energy, nuclear, defence and transportation. OUR ENGINEERING CENTRES combined with the mobility of our teams enable us to perform worldwide without compromising the Made in Assystem quality REVENUE / 613 Million TOTAL EMPLOYEES / 8, % INTERNATIONAL PORTION OF REVENUE / ASSYSTEM REFERENCE DOCUMENT 2009

6 04 INTERVIEW MICHEL COMBES / LETTER FROM THE PRESIDENT OF THE SUPERVISORY BOARD / «ASSYSTEM S CORPORATE GOVERNANCE BALANCE ENABLED IT TO ACT QUICKLY.» The annus horribilis 2009 gives us an opportunity for reflection, as is the remit of the Supervisory Board. Mid-sized company, Assystem enjoys twin and complementary characteristics: those, historically, of an SME and those of a large group in the making. It benefits from the robustness and responsiveness that are characteristic of entrepreneurial management and a Corporate Governance structure befitting the largest companies. Once again this year, the balance of Assystem s Corporate Governance, underpinned by the stability of its shareholder base, enabled it to take swift action, in accord with its values and with a view to its long-term sustainability. As a result of its make-up, the Supervisory Board serves to anchor the Company. Its members have formerly held management positions in Assystem s customer sectors: they are fully aware of their fundamentals and structural developments. This closeness enabled them to act as a lookout, and to shed light on operational decisions. In 2009, Assystem maintained its core strategic outlook, while adapting to a fundamentally altered environment. Better still, the Group was able to restructure to prepare for the future, which it faces with its forces refocused on its major markets and a certain financial flexibility. This is the result of effective cooperation between the Management Board and the Supervisory Board, each within their respective remit. This coherence, a precondition for sound Governance, is a powerful driver of performance today and of growth tomorrow. Sound Governance is a powerful driver of performance today and of growth tomorrow. ASSYSTEM REFERENCE DOCUMENT 2009

7 05 INTERVIEW DOMINIQUE LOUIS / LETTER FROM THE PRESIDENT OF THE MANAGEMENT BOARD / In 2009, we faced a crisis of previously unseen suddenness and scale. Despite this, Assystem continued to carry out the transformations required to prepare its future with steadfastness and determination. It did not deviate from its strategic goals. On the contrary, it strengthened its hand by retaining its employees and maintaining its financial capacities. This twin necessity reflected the main concern of the Management Board: safeguarding the company s long-term development. «ASSYSTEM S TRANSFORMATION WENT HAND-IN-HAND WITH THAT OF ITS CLIENTS.» Despite the decline in revenue on the back of the collapse of the automotive sector, diversification made it possible to dampen the impact. The Group s resilience and responsiveness resulted both in the career changes of over 300 engineers during the year and in the cutting of indirect costs, particularly in France. Its ability to recover, evident in the second half, positively positions Assystem to take advantage of new growth opportunities. We are exiting the crisis with a stronger balance sheet and increased financial flexibility. Our major assets include our singular know-how in a sector with substantial long-term growth potential, namely nuclear power a sector in which we strengthened our positions in But a real dynamic of change spread everywhere, made possible by the solidarity and flexibility of the teams. Assystem s transformation went hand-in-hand with that of its clients. The trials of 2009 reaffirmed its ability to adapt, the strength of its expertise, the coherence of its vision. While remaining true to its fundamentals, the company set itself free. Keep moving forward, that is the aim of any strategy in a world where nothing is certain, except uncertainty. Keep moving forward, that is the aim of any strategy in a world where nothing is certain, except uncertainty. ASSYSTEM REFERENCE DOCUMENT 2009

8 06 CORPORATE GOVERNANCE ASSYSTEM is a public limited company with a Management Board and a Supervisory Board. This corporate form allows for effective separation of management and control functions. Management at Assystem places great importance on the efficiency of its process for taking major decisions and on the flow of information within the Group, with this constant concern notably stemming from its highly decentralised structure. THE SUPERVISORY BOARD In accordance with the Articles of Association and its rules of procedure the Supervisory Board meets as often as required by the Company s interests and at least four times a year. In order to properly carry out its duties, it is consistently and fully informed on matters submitted to it prior to its meetings, covering all the items on the agenda and in particular, every quarter, the running of the Company. The Supervisory Board currently has nine members from different walks of life, seven of whom satisfy the independence criteria as laid down in the Corporate Governance Code for listed companies published by AFEP-MEDEF. In November 2009, the Remuneration and Nominations Committee reviewed each member s status as regards these criteria. The Supervisory Board met six times over the past year and received the corresponding preparatory material. The attendance rate was 70%. The Board has its own rules of procedure, which in particular set out the rules governing the operation of the Board. To this end, the Supervisory Board decided to directly handle issues relating to the Group s strategic outlook and set up two Board committees, namely: an Audit Committee and a Remuneration and Nominations Committee, each with its own rules of procedure. THE AUDIT COMMITTEE The Audit Committee met six times in 2009 and had an attendance rate of 92%. The Audit Committee is responsible for assisting the Supervisory Board with the carrying out of its financial and audit-related duties and responsibilities. THE REMUNERATION AND NOMINATIONS COMMITTEE The Remuneration and Nominations Committee met five times in 2009 and had an attendance rate of 93%. It is tasked with making proposals to the Supervisory Board regarding the appointment of members of the Supervisory Board, members of the Management Board, the President of the Management Board, any executive officers and members of the Audit Committee. The President of the Supervisory Board also keeps it informed of the appointment of other Group executives. THE MANAGEMENT BOARD The Management Board, chaired by Dominique Louis, currently has six members, bringing together the main functional and operational know-how required to run the Group. BY VIRTUE OF THEIR KNOW-HOW AND EXPERTISE, EACH MEMBER ENHANCES THE WORK OF THE TEAM. THAT IS THE BASIS FOR THE HARMONIOUS CORPORATE GOVERNANCE, IDENTITY OF ASSYSTEM ASSYSTEM REFERENCE DOCUMENT 2009

9 07 CORPORATE GOVERNANCE THE MANAGEMENT BOARD Dominique LOUIS PRESIDENT Stéphane AUBARBIER David BRADLEY Gérard BRESCON Martine GRIFFON-FOUCO Gilbert VIDAL THE SUPERVISORY BOARD Michel COMBES PRESIDENT Jean-Pierre DESGEORGES VICE-PRESIDENT Pierre GUÉNANT Gilbert LEHMANN Rémy CHARDON Stanislas CHAPRON Armand CARLIER Jean-Pascal TRANIÉ Bertrand FINET THE REMUNERATION AND NOMINATIONS COMMITTEE Jean-Pierre DESGEORGES PRESIDENT Stanislas CHAPRON Rémy CHARDON THE AUDIT COMMITTEE Jean-Pascal TRANIÉ PRESIDENT Armand CARLIER Pierre GUÉNANT Gilbert LEHMANN Bertrand FINET The Management Board, from left to right: Dominique Louis, President of the Management Board; Gérard Brescon, Human Resources; Gilbert Vidal, Finance; Stéphane Aubarbier, David Bradley, Martine Griffon-Fouco, Operations. ASSYSTEM REFERENCE DOCUMENT 2009

10 08 HIGHLIGHTS / 2009 ECONOMIC CRISIS / AUTOMOTIVE SECTOR PARTICULARLY HIT / > Beginning in Autumn 2008, the crisis peaked in the first half of The French automotive industry, which was particularly affected, had 452,000 idle hours in January alone. Assystem s revenue in this sector was cut in half in 2009 and reaches less than 10% over the year. NUCLEAR FUSION / EMERGENCE OF A MAJOR PLAYER / > The growth of the nuclear market led to a merging of the energy and nuclear operations of Assystem France and Assystem Facilities creating a force of over 3,000 engineers and technicians. The Group thus established for itself a singular skills cluster in its core field, and an offering that is also comprehensive ranging from engineering to the combustible cycle. GLOBALLY / SUPPORTING OUR CLIENTS INTERNATIONALLY / > Assystem assisted Renault with its project to build an automotive plant in Tangiers (Morocco), with the first line going into production in 2012 and the second in The Group provides project management support for the building component of this plant. RESPONSIVENESS / SAFEGUARDING THE FUTURE: HUMAN RESOURCES / > Once the first signs of a fall-off in sales appeared, Assystem took the necessary measures: reduction in indirect costs, staff reassignment. No social plan was implemented except in Italy. Sectorial retraining programmes were established. Following training, 320 employees were transferred from the automotive sector to growth businesses. The restructuring was made possible as a result of the mobility of the employees in question, and the solidarity of the host teams. Its success substantially increased the sense of belonging. BOUNCING BACK / RESOURCES FOR GROWTH / > Assystem continues to generate cash and has cut its net debt to zero. The improved balance sheet structure makes it possible to plan for the future, and to become highly manoeuvrable as we exit the crisis. As Assystem has no debt, it is ready to bounce back by taking growth opportunities that are in line with its strategy. ASSYSTEM REFERENCE DOCUMENT 2009

11 09 HIGHLIGHTS STREAMLINED PANELS / TARGETED OFFERING, INCREASED MARKET SHARE / > With a view to cutting their costs and improving performance, all key accounts have streamlined their preferred supplier lists. Assystem is one of the leading service companies retained by EADS, MTU, Rolls-Royce, Thales, etc. This presence attests to the trust built up over the years and an ever more targeted offering. It would be expected to result in additional market share in ONE HUNDREDTH / A FIGURE OF CONFIDENCE / > In September 2009, Assystem carried out its one hundredth assignment coordinating the shutdown of the Reactor Building housing the primary circuit of the nuclear plants. Assystem is asked, by EDF, to handle an average of fifteen shutdowns per annum, each requiring the carrying out of thousands of individual tasks. This symbolic milestone marks the trust placed in Assystem s know-how by the EDF French operator. ENGAGE FOR ITER / ARCHITECT ENGINEER / > Assystem, as lead partner, joined up with European engineering specialists: Atkins (United Kingdom), Empresiarios Agrupados (Spain) and Iosis (France) to establish the Engage Consortium and bid on a tender from the European Fusion For Energy (F4E) agency regarding the design and the construction of 34 buildings as part of the international ITER project. SPIRIT AEROSPACE / A GLOBAL PARTNERSHIP / > Sales to Spirit Aerospace rose by a factor of six in 2009: the US equipment manufacturer is one of the Group s top ten clients. This relationship can be seen in transnational agreements in Canada, Russia, Germany and the United Kingdom. Assystem notably works for Airbus in Europe, and for the aircraft manufacturer Bombardier in Canada. This is testament to our leadership as the leading European Design Office in aerostructures. ANI / BROADENING EXPERTISE / > The lack of investment in the nuclear field over the past two decades has led to a dearth of expertise. It is with a view to building it back up that Assystem founded the Assystem Nuclear Institute (ANI). In 2009, this training centre, run by the leading experts, welcomed 513 trainees from all corners of the Group. ASSYSTEM REFERENCE DOCUMENT 2009

12 10 ASSYSTEM, INDUSTRIAL ENGINEER «RESPONSIVENESS, SOLIDARITY, CREATIVITY: THAT IS THE ASSYSTEM BRAND.» Dominique LOUIS, PRESIDENT OF THE MANAGEMENT BOARD OVERVIEW OF THE GROUP The Assystem Group is one of the leading global players in Engineering and Innovation Consultancy. Working at the heart of industry for over forty years, Assystem supports its clients with the development of their products and the optimisation of their industrial investments over their lifecycle. The Group has over 8,500 employees worldwide, and posted revenue of 613 million in ASSYSTEM REFERENCE DOCUMENT 2009

13 11 ASSYSTEM INDUSTRIAL ENGINEER Assystem has developed core competences in two very different fields: optimisation of industrial investments over their lifecycle (process engineering and production support), and outsourced R&D (product and electronic engineering, IT and software). By bringing its industrial investment optimisation activities together under the Plant Engineering & Operations division, the Group has reaffirmed its leadership position in the design and management of projects involving factories, power plants and other facilities, in testing and commissioning and in operation and training. Assystem offers its clients knowledge of complex, heavily regulated environments, built up on its long experience in the nuclear industry. In the field of outsourced R&D, Assystem is active throughout the product engineering value chain, from functional analysis to validation, not to mention design, computing and testing. Its expertise in mechanical engineering has made Assystem s Aerospace Mechanical Engineering division a European leader in the aerospace field. The Technology & Product Engineering division houses the key expertise required for hardware and software development, systems integration and validation in the automotive, rail transport and new technologies sectors. Its ability to identify and bring together cutting-edge resources makes Assystem one of the leading engineering partners of major international industrial players, as can be seen from its reference listings at EADS, Alstom Transport and Siemens. With an organisation that is firmly grounded in the realities of its markets, Assystem offers the flexibility and expertise sought by its clients, enabling it, both in times of crisis and growth, to ensure the company s long-term sustainability. «OUR BUSINESS IS BUILT ON TRUST. WITH IT, ANYTHING IS POSSIBLE.» David BRADLEY, MEMBER OF THE MANAGEMENT BOARD «OUR CLIENTS CROSS NATIONAL BOUNDARIES, AND WE ACCOMPANY THEM.» MARTINE GRIFFON-FOUCO, MEMBER OF THE MANAGEMENT BOARD MARKETS AND CLIENTS Assystem s stature and international positioning are key to its credibility and competitiveness. They enable it to recruit worldwide, and for its clients represent a decisive selection criterion in terms of the definition and spreading of risks. One of the essential components of this approach is the Group s sales structure. Drawing on that of its major buyers, it is cross-company and global. Assystem has assigned each of its key accounts to a single account manager, who can provide them with an unified offer covering all of their needs and benefiting from optimal allocation of its resources, from one country to the next. With expanded and transnational resources, Assystem supports its clients with their international expansion, and thereby shares expertise as close as possible to mature or emerging markets. This strategic choice provides the Group with the necessary responsiveness to maintain a close relationship with its clients. ASSYSTEM REFERENCE DOCUMENT 2009

14 12 ASSYSTEM INDUSTRIAL ENGINEER It enables them to identify their needs, even before they are expressed, to put in place the human resources necessary to meet them, or to launch upstream training programmes to respond to them the moment they will appear. The cultural affinity with major nuclear players like EDF and Areva thus represents a considerable advantage for the Group. «RESPONSIBILITY DOES NOT MEAN TRANSFERRING RISK, BUT CONTROLLING IT.» Stéphane AUBARBIER, MEMBER OF THE MANAGEMENT BOARD Because it has built up expertise in all the fields in which it operates and is able to provide it to its clients right where they need it, the Assystem Group is a preferred supplier of leading global buyers. Assystem in fact offers its clients a unique set of core competences. Competences that it has built up over forty years in the nuclear field, from plant design to the combustion cycle, working on major projects worldwide for clients such as EDF, Areva, the CEA and British Energy. Recognised internationally, this expertise earned it a part in the ITER project. A testament to the trust placed in it by EDF, Assystem helps train its plant operators, engineers and technicians. In response to changes in how clients are contracting out work, marked by the widespread use of fixed-price arrangements, the Assystem Group expanded its recruitment globally, merged its teams and internationalised its project culture. This adaptation to the globalisation of the operations of its clients has, for example, enabled Assystem to become one of the leading European Design Offices in aerostructures. The scale and structure of the Assystem Group enables it to work side-by-side with its clients no matter where they are, using shared resources and expertise. The Assystem Group supports them, under offset agreements, and is even moving into emerging markets, via offshore activities. It thus mirrors the presence of leading global aerospace and automotive manufacturers in Romania, Morocco and India. This dynamic of growing in tandem with market expectations and developments has been made possible by the Group s financial solidity. It has allowed it to channel and control its development, to respond to innovation challenges, to take opportunities to make acquisitions. Thanks to the stability of its shareholder base and in particular its governance structure, Assystem is in a position to follow a policy of dynamic growth and innovation, and to position itself as a leading international player in Engineering and Innovation Consultancy. ASSYSTEM REFERENCE DOCUMENT 2009

15 13 ASSYSTEM INDUSTRIAL ENGINEER «ONE OF OUR CONCERNS, IS THE SKILLS OF TOMORROW.» Gérard BRESCON, MEMBER OF THE MANAGEMENT BOARD It surrounds itself with a network of contacts and experts, who enrich strategic know-how and feed creativity. Each year, four hundred employees are invited to do training at the Assystem Nuclear Institute, with programmes designed to reinforce technical knowledge and strengthen quality control, but equally to develop experience sharing and knowledge transfer in the nuclear field. Assystem s human resources policy is inseparable from its financial goals. It ranks development of expertise as one of the key tools in improving the performance of its clients. OUR VALUES AND TEAM It is the men and women of the Assystem Group who ensure its performance, growth, and long-term sustainability: this belief underpins the corporate culture as regards human resources. This means demanding hiring, in line with needs, and constant upgrading of know-how to reflect cutting-edge developments. Assystem is driven by values that underpin its decisions and actions and constitute its brand: solidarity, responsiveness, creativity. The Company s dynamism is built on the promotion, spreading and sharing of these values. Particular emphasis is placed on the role of supervisory staff, who direct teams on a day-to-day basis and ensure increased cohesion: solidarity is a precondition for change. It makes possible changes made necessar y by economic realities, technological innovation and market globalisation. The requirement of responsiveness means that Assystem is continually identifying the skills of the future. To keep its offer at the very highest level, and thereby maintain balanced relations with its clients, the Group targets the diversity and complementarity of its activities and looks to renew its expertise. «THE GROUP HAS A SOLID BALANCE SHEET AND INCREASED FINANCIAL FLEXIBILITY, DRIVING GROWTH.» Gilbert VIDAL, MEMBER OF THE MANAGEMENT BOARD ASSYSTEM REFERENCE DOCUMENT 2009

16 14 INTERNATIONAL PRESENCE FRANCE / 16 GERMANY / 18 UNITED KINGDOM / 19 SPAIN, PORTUGAL, ITALY / 20 ROMANIA, INDIA / 21 ASSYSTEM REFERENCE DOCUMENT 2009

17 15 INTERNATIONAL PRESENCE THANKS TO ITS INTERNATIONAL PRESENCE, THE GROUP IS POSITIONED TO ACT AS A PREFERRED PARTNER TO ITS CLIENTS WORLDWIDE. The history of the Assystem Group began in 1966 with the creation of a French company called Atem by a team of nuclear engineers and technicians. Specializing in the commissioning of industrial units, the company s growth was fueled by the major nuclear power plant-building program initiated by the French government after the first oil crisis of In the 80s, the company began to diversify into project management, focusing mainly on control systems and industrial IT for the automotive, steelmaking, space and defense industries saw the creation of Alphatem, a company owned jointly with COGEMA, and originally focused on the testing and commissioning of COGEMA industrial investments programs at La Hague and Melox (France). In 1995, the Group adopted the name of Assystem and was listed on the Paris stock exchange marked the end of major state investment in nuclear power both in France and internationally, and the start of a new phase in the life of Assystem, as the company diversified decisively towards product engineering in the aeronautic and automotive industries without losing any of its skills and expertise in nuclear power. The merger with Brime Technologies in 2003 established Assystem as a major player in advanced technology consultancy and opened the door to the Group s globalization. A series of significant acquisitions, including Inbis Ltd., which became Assystem UK Ltd., as well as SKI and Atena in Germany, would then remodel the face of the Group. In 2008, Assystem s presence in India was further reinforced by the formation of Silver Atena; a company specialized in embedded critical safety systems. Assystem now has over 8,500 employees worldwide and posts close to a third of its revenue outside France. Its global scope means that it can act as a preferred partner for its clients across all their operations, making its core competences available to their major projects. TOP 10 CLIENTS EADS - EDF - Thales - General Electric - Areva Peugeot-PSA - Alstom - MTU - Renault - Spirit Aerospace ASSYSTEM REFERENCE DOCUMENT 2009

18 16 INTERNATIONAL PRESENCE FRANCE Strengthened, restructured, Assystem consolidates in its core markets, and reaffirms its positions in the growth sectors of the future. Assystem s operations in France account for 70% of the Group s revenue, and is primarily posted by two subsidiaries: Assystem France serving the needs of the outsourced R&D market and Assystem Engineering & Operation Services, resulting from the merger of the energy and nuclear operations of Assystem France and Assystem Facilities, optimising industrial investments over their lifespan. In 2009, Assystem was faced with an economic crisis that hit its sales volumes. Given the challenges created by the economic downturn, the Group responded vigorously, cutting overheads, more closely controlling headcount reduction, promoting the mobility of resources and expertise. The restructuring of operations and widespread use of Key Account Managers makes it possible to firm up offerings, skills and to take advantage of synergies between the various entities to support the changing needs of our clients. MAIN SUBSIDIARIES: > Assystem France / > Assystem Engineering & Operation Services / EMPLOYEES: 6, REVENUE: (IN M) ASSYSTEM REFERENCE DOCUMENT 2009

19 17 INTERNATIONAL PRESENCE Thanks to its new sales structure, Assystem moved closer to its main clients to anticipate their needs. It offers its range of services to the current roster of clients and targeted prospects. It was the activities of the automotive sector that were the worst affected by the crisis in 2009 with a dramatic 50% fall in revenue. Plans to switch from this highly affected sector to growth sectors made it possible to retrain over 300 employees via targeted retraining programmes. Assystem consolidated its position in the nuclear sector, which enjoyed growth of 30%, like the EDF and Areva accounts saw progress on major projects. As part of the Engage consortium, where it is the lead partner, Assystem bid on a tender from the European Fusion For Energy (F4E) agency regarding the design and the construction of buildings of the ITER international programme, experimental thermonuclear reactor. New assignments were awarded to the Design Office as part of the Finnish EPR reactor project; a sign-off platform was developed for command & control system on the site of the Flamanville 3 EPR reactor. Assystem expanded its collaboration with EDF s Centre National d Equipement Nucléaire with regard to the operation of EPRs. Areva asked Assystem to carry out the testing and commissioning for the Georges Besse II enrichment site at Tricastin and the operating activities contracted out at the Cadarache site. The Design Office contract for mechanical works at CERN in Geneva was also renewed. Ever more active in the conventional energy sector, Assystem saw the Belfort site increase its work with GE Power and Alstom on balance of plant systems for gas turbines. Renewable energy will enable Assystem to grow and diversify its activities with groups such as GDF Suez, Total, Suez Environnement, Veolia, in particular in the field of waste and water treatment. Assystem employees are working on major hydro projects for EDF, Super Hydro and Renouveau. «TAKING ADVANTAGE OF SYNERGIES TO SUPPORT THE CHANGING NEEDS OF OUR CLIENTS.» For Compagnie Nationale du Rhône (GDF Suez Group), Assystem carried out supervisory studies on command & control facilities. The potential of the life sciences sector can be seen from the outsourced operations offering. Assystem moved forward in its long-standing activities of process certification and validation, in particular for GSK. The leading Design Office for aerostructures, Assystem works on the major programmes of its long-standing customer, Airbus, in Toulouse, but also for equipment makers like Aérolia, Liebherr Aerospace, Dassault and Snecma. Its teams of engineers work both upstream in design and downstream in support services and aircraft maintenance. The switch to flat-fee contracts from technical support has enabled Assystem to respond to increased demand for systems integration and outsourcing of functions. A major restructuring effort consolidated Assystem s position in France, and will enable it, in a more favourable economic climate, to discover new growth drivers. ASSYSTEM REFERENCE DOCUMENT 2009

20 18 INTERNATIONAL PRESENCE GERMANY Assystem meets the challenge of diversification in Germany, all the while capitalising on its expertise in aerospace. Assystem has major operations in Germany, the leading European economy. The three subsidiaries, Assystem Aero space Germany, Atena Engineering GmbH and Silver Atena GmbH employ over 800 engineers across the country. The challenge for Assystem in Germany is the diversification of its business; three quarters of its revenue is currently generated in the aerospace sector. The Group is developing its expertise in Germany to meet growing demand in other fields, notably in the conventional and renewable energy sectors. The aeronautic business, dominated by a single customer, Airbus, was marked in 2009 by the switch from Technical Support contracts to fixed-price work package. In parallel, Assystem experienced strong pressure on prices without it being possible to cut costs by the same proportions. In 2009, there was very strong demand for Silver Atena s expertise in embedded electronics and IT. They were in particular called upon as part of work on the control systems for the A400M engines on behalf of MTU. This recognised know-how in critical systems should result in sustained demand in Assystem has major ambitions in Germany and is investing in its capabilities. The future will bring major challenges in terms of human resources and customer offerings. The goal is to increase synergies within the Group and develop expertise in order to improve profitability and open up new markets. MAIN SUBSIDIARIES: > Assystem Aerospace Germany > Atena Engineering GmbH > Silver Atena GmbH EMPLOYEES: REVENUE: (IN M) 73.8 ASSYSTEM REFERENCE DOCUMENT 2009

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