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Annual Report -
2013
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Vivendi
Societal,
Social
and Environmental Information
Key Messages
The Group’s telecom subsidiaries concerned by this issue maintain this
dialog throughout the year:
in a constant attempt to maintain vigilance and transparency, SFR
continues to provide information to its customers, in particular
by distributing the leaflet “My Mobile and My Health”, which is
updated regularly to reflect current developments (the latest version
was published in November 2013). More generally, SFR conveys
precautions for use that help reduce exposure to radio waves,
such as the use of a headset (provided free in all SFR packs), or the
recommendation to make calls in areas with good radio reception.
Lastly, pursuant to regulation, the operator displays the maximum
level of exposure (Specific Absorption Rate: SAR) for mobile
terminals in its commercial brochures, on displays in its distribution
networks, on its websites and in advertisements;
Maroc Telecom is available for local residents wishing more
information on the installation of new relay antennae. It holds
information meetings to answer their questions and address their
potential concerns. The Group is particularly concerned to ensure
that all roll-out operations or ones involving changes in antenna
technology are accompanied with briefings for the benefit of local
residents, in response to their health-related concerns.
Section 3
Social Information
3.1.
Key Messages
3.1.1.
An Ambitious Employee Shareownership Policy
Vivendi is committed to ensuring that employees’ contributions to the
Group are rewarded and distributed equitably. Consequently, the Group
has implemented a profit sharing policy that exceeds legal requirements
and strongly encourages employee Shareownership. In 2008, the Opus
program was created, which supplements the traditional annual
Shareownership plan reserved for employees of the Group’s French
companies. In 2013, initiatives were carried out in continuation of this
policy.
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3.1.1.1. Development of Employee Savings
Plans in France
In 2013, the total net amounts received by the employees of the Group’s
French companies in the form of optional profit sharing plans, statutory
profit sharing plans and employer’s contributions to the Vivendi Group
Savings Plan (Plan d’épargne groupe or PEG) amounted to €98.8 million,
a decrease of 10% from the record year 2012. This amount corresponds
to a gross expenditure of €128.6 million for the Group’s companies.
The total amount of new employee savings amounted to €77.8 million,
which breaks down as follows: €57.5 million invested in the various
employee share savings plans and €20.3 million allocated by employees
either to retirement savings schemes (€11.7 million to the collective
pension savings plans of SFR and Universal Music France), or to various
funds or plans specific to their companies.
In 2013, in the context of a relative decrease in the sums distributed
under optional and statutory profit sharing plans, a growing portion of
employee savings was allocated to employee shareholding (45.9% of
the amounts invested). Investments in money market mutual funds fell
significantly at the same time, accounting for only 28% of investments,
compared with 38% in 2012. This trend can be interpreted as an
indicator that employees are adopting the profit-sharing policy pursued
by Vivendi Group through employee shareholding.
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3.1.1.2. Share Capital Increase Reserved for
Employees
Pursuant to a decision of the Management Board dated April 29,
2013, and authorizations granted by the Shareholders’ Meeting held
on April 30, 2013, the annual share capital increase reserved for
employees of the Group’s companies under the Group Savings Plan
(PEG) was approved on July 25, 2013. For the sixth consecutive year, the
capital increase involved the simultaneous launch of a regular employee
share offering (in France) and a French and international leveraged and
guaranteed capital plan, entitled Opus 13.
As in previous years, the guaranteed capital feature of Opus was
supplemented by an capitalized minimum return guarantee, which,
since 2012, has seen a rise in the annual rate from 2.5% to 4%. The
Opus 13 plan was opened to employees of the Group’s main operating
countries (France, the United States, Brazil, Morocco, the United
Kingdom, Germany and the Netherlands), accounting for 80% of the
Group’s employees.
Despite the continuing economic and market downturn, the share capital
increase reserved for employees, particularly the Opus plan, proved
highly successful: a total of 12.3 million Vivendi shares were subscribed
for, equaling the record set in 2012. The total amount subscribed
for equals €148.7 million, which is a new all-time record (an increase
of 17.4% over the €126.7 million subscribed in 2012 and an increase
of 3.9% over the record of €143.1 million subscribed in 2011). The
total number of subscribers, 10,682 employee participants, equals
the 2011 record of 10,861 subscribers.
In detail:
the Opus 13 subscription of €123.8 million for 10.2 million
shares subscribed exceeds the record Opus subscription
in 2011 (€115 million for 7.5 million shares subscribed); and
the increase of subscription to the traditional share capital
(€24.9 million compared with €28.5 million in 2011) resulted
in a subscription of 2 million shares, or a 14% increase compared
to 2011.
