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Eurazeo: 3rd Quarter 2012 Financial Information

  Eurazeo: 3rd Quarter 2012 Financial Information

  *GOOD RESILIENCE FOR 3^rd QUARTER 2012 REVENUES

       *3^rd Quarter 2012 consolidated revenues: € 1,241.9m, +1.8% on a
         restated basis^1
       *3^rd Quarter 2012 economic revenues^2: € 2,298.9m, up +3.2% on a
         restated basis^1

  *COMPLETION OF ACQUISITIONS AND DISPOSALS:

       *Accor: sale of Motel 6 / Studio 6 in the United States and
         acquisition of Grupo Posadas’ South American hotel park
       *Rexel: second strategic acquisition in the United States with Munro
         Distributing Company in the eastern United States and California,
         following Platt Electric Supply in the western United States in July
       *ANF Immobilier: divestiture in process of 160 B&B hotels and part of
         Lyons property holdings

  *A STRENGTHENED FINANCIAL SITUATION

       *Cash of € 87m as of September 30, 2012, which would increase to €
         313m after including net proceeds from ANF Immobilier divestiture

  *NAV GROWTH: € 54.7 PER SHARE AS OF SEPTEMBER 30 COMPARED WITH € 51.7 AS OF
    JUNE 30, 2012^3, +5.8%
  *RECOGNITION FOR CORPORATE SOCIAL RESPONSIBILITY COMMITMENT

       *Entry September 24 into SRI Aspi Eurozone index
       *Eurazeo awarded Transparency Grand Prize for the financial companies
         industry

Business Wire

PARIS -- November 09, 2012

Regulatory News:

Eurazeo (Paris:RF):

Eurazeo CEO Patrick Sayer commented: "Eurazeo companies confirmed their
resilience during the 3^rd Quarter 2012, with some even improving their
revenue momentum. This demonstrates once again that our diversified and
balanced portfolio enables us to withstand cyclical effects and difficult
economic conditions. Our companies have also seized opportunities for
acquisitions and disposals, including Accor, Rexel and ANF Immobilier. The
upcoming sale of part of ANF Immobilier’s property holdings should result in
the payment of 258 million euros to Eurazeo, while enabling ANF Immobilier to
consider new acquisitions for growth. Nonetheless, we remain prudent with
regard to the future in light of economic, legislative and regulatory
uncertainties which make visibility particularly difficult for some of our
activities."

^1 See detailed table on page 2.
^2 Consolidated revenues + proportional share of revenues from companies
consolidated by the equity method according to their % held.
^3 Unlisted investments are held at their June 30, 2012 value in accordance
with the methodology applied by Eurazeo. The NAV as of September 30 reflects
the impact of divestitures and the distribution announced by ANF Immobilier.

I- 3^RD QUARTER 2012 PERFORMANCE OF GROUP COMPANIES

Evolution of consolidated revenues as reported and restated *
Consolidated       2012           2011           2011           Change         Change
sales           Reported    Reported    Restated    Reported    Restated
(€m)
Q1              988.2       866.8       964.6       +14.0%      +2.4%
Q2                 1,141.2        1,040.9        1,143.5        +9.6%          -0.2%
Q3                 1,241.9        1,215.9        1,220.4        +2.1%          +1.8%
                                                           
9 months        3,371.2     3,123.6     3,328.5     +7.9%       +1.3%


Economic revenues as reported and restated*
                                                                                       
                   Q3                                                                          9 months
                                 2011           2011           Change          Change                        2011           2011           Change          Change
               2012       Reported    Restated    2012/2011    2012/2011       2012       Reported    Restated    2012/2011    2012/2011
                                                               Reported        Restated                                                    Reported        Restated
Consolidated                                                                                                                      
sales
Eurazeo            1.4           4.9            4.9            -71.7%          -71.7%          10.4          17.5           17.5           -40.6%          -40.6%
Autres             5.1           3.6            3.6            +39.8%          +39.8%          36.8          25.4           25.4           +44.8%          +44.8%
ANF                19.2          19.0           19.0           +1.4%           +1.4%           57.7          64.2           64.2           -10.1%          -10.1%
Immobilier
APCOA              174.5         178.8          178.8          -2.4%           -2.4%           514.6         538.2          538.2          -4.4%           -4.4%
ELIS               310.0         303.1          303.1          +2.3%           +2.3%           890.7         862.1          862.1          +3.3%           +3.3%
Europcar           616.6         616.0          616.0          +0.1%           +0.1%           1,504.7       1,525.5        1,525.5        -1.4%           -1.4%
Eurazeo PME        106.0         90.6           79.6           +17.0%          +33.2%          324.4         90.6           250.8          +257.9%         +29.4%
3SP Group          8.7           -              15.5           N/A             -44.3%          30.9          -              44.7           N/A             -30.8%
Autres          0.4        -           -           N/A          N/A          1.0        0.0         0.0         N/A          N/A
Consolidated    1,241.9    1,215.9     1,220.4     +2.1%        +1.8%        3,371.2    3,123.6     3,328.5     +7.9%        +1.3%
sales

Proportional
revenue
(EM)**
Accor
(restated          150.7         149.2          149.2          +1.0%           +1.0%           426.4         425.1          425.1          +0.3%           +0.3%
for Motel 6)
Edenred            26.2          25.0           25.0           +4.5%           +4.5%           78.4          76.2           76.2           +2.8%           +2.8%
Rexel              656.4         612.5          612.5          +7.2%           +7.2%           1,909.3       1,788.0        1,788.0        +6.8%           +6.8%
Moncler            102.2                        93.5           N/A             +9.3%           203.4         -              178.7          N/A             +13.9%
Foncia             55.8          59.1           59.1           -5.5%           -5.5%           170.7         59.1           178.3          +188.9%         -4.3%
Intercos           35.0          27.7           27.7           +26.5%          +26.5%          89.8          79.5           79.5           +12.9%          +12.9%
Fonroche           4.7           13.1           13.1           -64.5%          -64.5%          15.0          36.8           36.7           -59.2%          -59.2%
Fraikin         26.1       27.3        27.3        -4.3%        -4.3%        78.7       80.2        80.2        -1.9%        -1.9%
Proportional    1,057.1    913.9       1,007.4     +15.7%       +4.9%        2,971.6    2,545.0     2,842.9     +16.8%       +4.5%
revenue
                                                                                                                   
Economic        2,298.9    2,129.9     2,227.8     +7.9%        +3.2%        6,342.9    5,668.6     6,171.3     +11.9%       +2.8%
revenue
^** Equity
method

* Restated in 3^rd Quarter for disposals of Mors Smitt by Eurazeo PME and
Motel 6 by Accor and pro forma of the acquisitions of 3SP Group and Moncler.
For the first six months, the restatement reflects pro forma the acquisitions
of Moncler, Foncia and Eurazeo PME.

In a sluggish economic environment, Eurazeo’s overall portfolio recorded a
good performance for the 3^rd Quarter 2012, especially APCOA, excluding the
effects of contract renegotiations, Eurazeo PME, Moncler, Edenred and Elis.
Foncia resisted well despite a decline in real estate transactions. Europcar
revenues declined slightly.

During the first nine months of 2012, economic revenues were 6,342.9 million
euros, up +11.9% as reported, including +7.9% to 3,371.2 million euros for
fully consolidated companies and +16.8% to 2,971.6 million euros for companies
consolidated by the equity method.

In the 3^rd Quarter, economic revenues rose +3.2% to 2,298.9 million euros on
a restated basis, an increase of +1.8% for fully consolidated companies and
+4.9% for companies consolidated by the equity method.

Real Estate

ANF Immobilier (fully consolidated)

Continued increase in rents

ANF Immobilier 3^rd Quarter 2012 revenues were 19.2 million euros, stable
compared to the 3^rd Quarter of 2011.

Consolidated ANF Immobilier revenues were 57.7 million euros as of September
30, 2012, a 10% decrease compared to September 30, 2011. It should be noted
that September 30, 2011 accounts included one-off back rent payments from
previous years of 7.8 million euros. Excluding this exceptional item in 2011,
revenues rose +2.3% over the period. At constant scope - restated for
divestments in Lyons and Marseilles - rents increased +4.6%.

City-center property rents increased +5.9% at constant scope. For city-center
property, retail accounted for 48% of rents, residential for 24%, offices for
23%, with the remainder being other space (parking lots).

The process of the disposal of the B & B portfolio and a part of the Lyons
portfolio is continuing on schedule. The precedent condition related to the
filing of a squeeze-out tender offer on the basis of Article 236-6 of the
General Regulations of the AMF was waived following the decision of the
October 30, 2012 Board decision (see Information and Decision No. 212C1433
dated October 30, 2012). Execution dates are now planned by November 15, 2012
for most of these sales.

Mobility and leisure

APCOA (fully consolidated)

Growth remains strong through September

For the first nine months 2012, APCOA generated revenues of 514.6 million
euros, an increase of 2.5% at constant exchange rates and restated for the
impact of renegotiations of certain contracts, including transformation of
certain airport lease contracts into management contracts, in order to
increase portfolio profitability and flexibility.

Growth remained strong in the 3^rd Quarter in the main countries, improving
compared to 1^st Half 2012 trends. At constant exchange rates and adjusted for
contract renegotiations, revenues rose +1.4% in the 1^st Half and +4.8% in the
3^rd Quarter.

The strongest growth was from the airport, railway station and city-center
parking segments.

Revenues as reported declined 4.4% for the first nine months of 2012, with a
decrease of 5.4% in the 1^st Half and 2.4% in the 3^rd Quarter.

Europcar (fully consolidated)

Good resistance for 3^rd Quarter 2012 and initial results from improvement
projects launched by new management team

In a financially tight and competitive environment, which remained tense in
the 3^rd Quarter, Europcar’s performance improved satisfactorily over the 1^st
Half of 2012. This performance results primarily from reinforcement of the
Leisure offer and the very positive response in southern Europe markets
(Spain, Portugal) to the introduction of the Value For Money ("low cost")
offer, which generated growth in these countries during the 3^rd Quarter.

Consolidated revenues for the 3^rd Quarter - the most important quarter of the
year, due to the strong seasonal influence of European summer holidays - was
616.6 million euros, stable (+0.1%), as reported, compared to revenues for
3^rd Quarter 2011 (-2.4% as reported for the 1^st Half 2012) and a decrease of
only 2.2% at constant scope and exchange rates (-3.2% in the 1^st Half 2012).
Revenues for the first nine months of 2012 decreased 1.4%, to 1,504.7 million
euros.

The fleet utilization rate again increased, by 1.6 points to 78.9% for the
quarter, due to improved demand forecasting and better fleet allocation
management, helping to partially offset lower revenues.

Accor (equity method)

2012 operating income objective confirmed: € 510-530m

Accor generated revenues of 4,202 million euros^4 for the first nine months of
2012, an increase of +0.3% as reported and +2.8% at constant scope and
exchange rates. For the 3^rd Quarter, revenues increased by +1.0% as reported
and +1.3% on a comparable basis to 1,485 million euros, despite an unfavorable
calendar in certain key European markets.

The 3^rd Quarter was marked by an increase in revenues of +1.6%, on a
comparable basis, in the High and Midscale segment, reflecting higher average
prices, which offset the slight decline in occupation rates in some markets.
The Economy segment showed good resilience with revenues up +0.5% on a
comparable basis. Finally, the further development of the offer, with 26,400
rooms added since the beginning of the year (including 87% under management
and franchise agreements), contributed to revenues, with double-digit growth
in franchise and management royalties. As of the end of June, 56% of the
network was under management and franchise agreements ("asset-light").

In France, Accor’s largest market, revenues declined in the 3^rd Quarter 2012,
resulting in particular from the absence of the Congress of Cardiology in
August. Activity remained strong in emerging markets, despite a slowdown in
growth in China.

As a result, Accor remains cautiously optimistic for the end of the year. The
Group expects continued strong activity in the 4^th Quarter of 2012, which
will be supported by several positive events in key European markets (such as
the World Auto Show in Paris) and growth momentum in international markets.

Accor confirms its 2012 operating income objective of between 510 and 530
million euros.

Luxury and Personal Care

Moncler (equity method)

Strong momentum in directly operated stores in a quarter dominated by sales to
multibrand stores

As of the end of September 2012, the Group was continuing to grow rapidly.
Consolidated sales for the first nine months reached 452.1 million euros
compared with 396.9 million euros, an increase of +13.9% on a reported basis.
The Moncler brand represented 73% of Group sales during the period, compared
with 66% for the same period last year. Strong growth continues in Asia, with
sales in China doubling during the 3^rd Quarter 2012.

In the 3^rd Quarter 2012, sales rose by +9.3% to 227.0 million euros with
+17.8% growth for the Moncler brand. Moncler 3^rd Quarter sales are mainly
generated from multibrand stores, in anticipation of the fall-winter season.
These figures reflect the continuation of the development strategy of a
network of directly operated stores and the planned reduction in the number of
multi-brand doors^5.

Almost 70% of the 176 million euros in Moncler brand 3^rd Quarter revenues
were generated by multi-brand store sales, an increase of +2% compared to the
previous year, while directly operated stores generated revenue growth of 77%.

As of the end of October, Moncler was operating 74 directly-owned stores,
including seven opened during the 1^st Half (five in Asia, two in Europe) and
eight since July (two in the United States, four in Europe and two in Asia).

Traditionally, 4^th Quarter revenues are primarily generated through
directly-operated stores.

Services

Elis (fully consolidated)

Good performance in France, mixed internationally for first nine months of
2012

Elis recorded revenues of 890.7 million euros in the first nine months of
2012, up +3.3% as reported and +1.4% on a comparable basis. In France, the
lease-maintenance activity remained healthy during the period (+2.7% on a
reported basis), while international grew by 7.0% over the period.

During the 3^rd Quarter 2012, revenues rose +2.3% on a reported basis and
+0.6% on a comparable basis to 310 million euros. In France, despite more
moderate growth in the Hotel and Restaurant segment (+3.7% over the first nine
months of 2012, including +1.6% in the 3^rd Quarter), Rental and Cleaning
activity remained on track for the quarter (+2.3%) with continued sustained
activity in the Healthcare sector (+5.5% for the first nine months of 2012,
including +4.7% as of the 3^rd Quarter), boosted in particular by the new
contract with Caen University Hospital. The Industry, Commerce and Services
activity increased +1.3% for the 3^rd Quarter.

Internationally, revenue growth of +7.0% as reported during the first nine
months of 2012 (-2.6% on a comparable basis) includes acquisitions integrated
within Elis’ perimeter and, as in the 1^st Half, reflects a contrasting
situation across geographic zones: strong growth in Germany and a decline in
both countries of the Iberian Peninsula due to the economic environment.

At the beginning of October, Elis strengthened its presence in German-speaking
Switzerland with the acquisition of Domeisen (3.8 million euros in 2011
revenues). The Swiss subsidiary of Elis now has more than 450 employees in
Switzerland at 10 industrial sites and generates consolidated revenues of more
than 42.1 million euros.

Foncia (equity method)

Stability in Property Management, decline in Real Estate Transactions

For the first nine months of the year, Foncia revenues were 426.1 million
euros, down 4.3% on a reported basis, primarily due to the decrease, as
anticipated, in Transactions activity (-21%), adversely affected by the
economic and tax situation in France and to a lesser extent, by lower turnover
in rental properties and the stopping of certain activities. Revenues for the
3^rd Quarter 2012 decreased 5.5% to 139.4 million euros.

The Property Management activity (88% of the Group’s revenues as of the end of
September 2012) demonstrated good resilience with almost stable revenues,
driven by Lease Management and Joint Property Management. These activities,
generating strong cash flow, enabled Foncia to further reduce its net debt
compared to 2011.

The transformation plan continued to go forward as planned, focused on three
priority areas: the evolution of the offer and customer relations, human
resources management and efficiency of agency and central function operations.
For 2012, the initial results from this work should be reflected in an
improved EBITDA margin.

Edenred (equity method)

Issue volume rose sharply, driven by the dynamism of Latin America - annual
objectives confirmed

During the first nine months of 2012, total issue volume was 11,864 million
euros, up 9.8% on a comparable basis. This increase reflects the strong
momentum in Latin America (+21.1%), slight growth in Europe (+1.9%, excluding
Hungary) and sustained growth in the rest of the world (+10.4%). Latin America
benefited from a favorable economic context characterized by job creation,
strong wage inflation and sustained business performance.

Total revenues increased +7.2% on a comparable basis to 767 million euros for
the first nine months, reflecting the positive trend in issue volume and
moderate growth in financial revenues (+4.0% on a comparable basis), affected
by a gradual decline in interest rates.

The Group confirms its targets of 6% to 14% like-for-like growth in issue
volume over the medium term and of €355 million to €375 million in 2012 EBIT.

^4 Restated for sale of Motel 6 in the U.S.
^5 Indirect distribution network.

BtoB Distribution

Rexel (equity method)

Resilient performance in a difficult environment - annual objectives for
profitability and cash flow confirmed - new strategic acquisition in the
United States

For the 3^rd Quarter, Rexel recorded revenues of 3,441.3 million euros, up
7.2% on a reported basis and down 3.6% on a comparable and constant number of
days basis. These figures reflect the more difficult conditions in its
principal markets - industrial, construction, residential and commercial - and
a high comparison basis, with the 3^rd Quarter of 2011 having increased by
7.5% on a comparable and constant number of days basis. For the first nine
months of 2012, Rexel generated consolidated revenues of 10,009.4 million
euros, up 6.8% on a reported basis.

During the first nine months of 2012, EBITA increased +8.2% to 561.2 million
euros, supported by acquisitions and a positive currency effect.

As a result of expected cash flows, the debt ratio (net debt / EBITDA) will be
reduced to approximately 2.8x at the end of 2012 compared with 3.07 x at the
end of September.

Rexel objectives for 2012 include: (1) growth in reported revenues between
+5.0% and +9.0%,; (2) reported EBITA growth between 5.0% and 9.0%. In
addition, despite the growing uncertainty in the macroeconomic environment,
Rexel confirms its profitability and cash flow objectives: (1) adjusted EBITA
margin of 5.7%, (2) free cash flow before interest and tax of around 600
million euros.

In addition to the acquisition of Platt in the western United States, Rexel
announces agreement to acquire Munro Distributing Company, a distributor of
innovative electrical products and solutions in the eastern United States and
California, specializing in energy conservation efficiency and solutions. Its
annual 2012 revenues are expected to be approximately 115 million euros,
compared with 88 million euros in 2011.

Eurazeo PME (fully consolidated)

Revenue growth of 33% for 3^rd Quarter related to international acquisitions,
up 16.6% on a comparable basis, more than double 1^st Half 2012 growth

Eurazeo PME’s good 3^rd Quarter performance was driven by FDS Group - the
portfolio’s largest company in terms of revenues - with double-digit revenue
growth, excluding acquisitions. Eurazeo PME 3^rd Quarter 2012 revenue was 106
million euros, compared with 90.6 million euros for the 3^rd Quarter 2011, an
increase of 17% on a reported basis. At constant scope, Eurazeo PME revenues
rose 33% over the period. Incorporating the effect of acquisitions made by
portfolio companies, growth was 17%, a significant increase compared with the
1^st Half 2012.

Continuing its performance since the beginning of the year, FDS Group
experienced strong growth on a constant basis in the 3^rd Quarter, driven by
the demand and the positive evolution of the product mix, as well as the very
good performance in Canada of the company AGS Flexitallic Inc., acquired in
January 2012. FDS revenues for the nine months rose +91%, and +24% on a
comparable basis.

Dessange International: Revenues as of the end of September 2012 increased
16%, primarily due to the acquisition in January of the group Fantastic Sams
in the United States. On a comparable basis, growth was +7%.

Leon de Bruxelles: Revenues for the first nine months of the year rose by +3%,
growth achieved through the opening of three new restaurants over the last 12
months.

Gault et Fremont: Revenues at the end of September 2012 increased +8%,
including +3% on a comparable basis, adjusted for the impact of acquisitions
carried out in 2011.

Eurazeo Croissance

Confirmation of the French presence and first significant divestitures of
power plants for Fonroche, restarting the undersea production line and strong
growth of land activity for 3SP Group

Fonroche was very active in the 3^rd Quarter with the completion of the
construction and ramping up of the first wave of its fleet of photovoltaic
plants in France (these plants with a total capacity of 64MW, would represent,
excluding disposals, recurring revenues of approximately 30 million euros with
a high margin). The decrease in Fonroche’s consolidated revenues to 42.2
million euros during the first nine months of 2012 reflects, as already
indicated last quarter, the refocusing of activities for its own account, for
which the contribution is canceled out in consolidation.

In addition, during the quarter, Fonroche signed an agreement with the Dutch
electrical utility company Eneco, for the sale of a park 5.6 MW for 21 million
euros. Through this transaction, Fonroche demonstrates its ability to sell its
own developed assets.

3SP Group continued to be affected by the flooding in Thailand at the end of
2011 but restarted, as planned, the production line for submarine components
in France, enabling a resumption of sales in this field during the 4^th
Quarter of 2012. For the terrestrial segment, growth remained strong during
the 3^rd Quarter 2012, at nearly 40%.

II- CASH

                                     Sept. 30,        Sept. 30,       June 30,
In millions of euros              2012          2012         2012
                                     Pro forma*
Cash immediately available           276.9            18.5            83.0
Accrued interest on bonds
exchangeable for                     -13.5            -13.5           -2.5
Danone shares
Other assets - liabilities        50.0          81.8         76.7
Cash                              313.3         86.8         157.2
Unallocated debt                     -110.4           -110.4          -110.4
Net cash                          203.0         -23.6        46.8

* Pro forma of announced transactions of ANF Immobilier

Disposals by ANF Immobilier of 160 hotel properties and a part of Lyons
properties, planned before the end of November, should generate an increase in
cash immediately available of 258 million euros for Eurazeo. Cash pro forma of
these transactions would amount to 313.3 million euros as of September 30,
2012 compared with 86.8 million euros.

Deferred taxes related to the divestitures announced by ANF Immobilier were
transferred to "other assets-liabilities" for an amount of 31.5 million euros.
This tax should not lead to a disbursement given the carry-back receivable of
129 million euros as of September 30, 2012.

In addition, Eurazeo has a syndicated credit line of one billion euros
maturing in July 2016. This line is undrawn and remains fully available.

III- NET ASSET VALUE

Eurazeo’s Net Asset Value as of September 30, 2012, pro forma of announced ANF
Immobilier transactions^6, was 54.7 euros per share, an increase of 5.8%
compared with June 30, 2012, with unlisted securities maintained at their
value as of June 30, according to the methodology applied.

If ANF Immobilier were valued at its Net Asset Value instead of its share
price, NAV as of September 30, 2012 would be 55.3 euros per share, compared
with 53.2 euros per share as of June 30, 2012.

The valuation methodology conforms to the recommendations of the International
Private Equity Valuation Board (IPEV). The valuation of unlisted investments
is mainly based on multiples of comparable or transactions and was maintained
at the June 30, 2012 value. For listed investments, the value used is the
average 20-day volume weighted price. Listed assets, net cash and treasury
shares have been updated as of September 30, 2012.

^6 See Appendix 2

                                    * * *

Conference Call

Eurazeo will hold a conference call today at 8:00 am (French time) to comment
on these figures. Interested parties may access the call by dialing
+44203367 9454. A recording will be available beginning at 11:00 am (French
time) at +44203367 9460 (Reference # 278385).

About Eurazeo

With a diversified portfolio of nearly 4 billion euros in assets, Eurazeo is
one of the leading listed investment companies in Europe. Its mission is to
identify, accelerate and enhance the transformation potential of companies in
which it invests. Its solid family shareholder base, its lack of debt and its
flexible investment horizon enable Eurazeo to support its companies over the
long term. Eurazeo is the majority or leading shareholder in Accor, ANF
Immobilier, APCOA, Edenred, Elis, Europcar, Foncia, Moncler and Rexel.

Eurazeo’s shares are listed on the Paris Euronext Eurolist.
ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA

                                                                          
                           March 20, 2013    2012 results           
Eurazeo financial             May 6, 2013          1^st Quarter 2013
calendar                                           revenues
                           August 28,        1^st Half 2013          
                              2013                 results


 For more information, please visit Eurazeo’s Internet site: www.eurazeo.com

                                  APPENDICES

Appendix 1 – Net Asset Value as of September 30, 2012 (unaudited)
                                                             NAV as of        With NAV
                %        Nb shares     price    Sept.         at its
                    held                         (€)         30, 2012         NAV @ €
                                                             (€M)             41.2
Private                                           1,776.5      
Equity
Listed
Private                                                      1,253.4
Equity
Rexel               18.0%       48,790,605       15.92       776.6
Accor               8.9%        20,101,821       26.56       533.8
Edenred             8.9%        20,101,821       21.78       437.7
Accor/Edenred                                                -494.8
net debt
Accor/Edenred                   20,101,821                   476.8
net* ^(1)
Real Estate                                                  559.4            682.4
ANF                 51.6%       14,337,178       32.62       467.6            590.7
Immobilier
Colyzeo and
Colyzeo 2                                                    91.8
^(1)
Other listed
assets
Danone              2.6%        16,433,370       42.60       700.0
(pledged OEA)
Danone debt                                                  -700.0
(OEA)
Danone net*
Other assets                                                 18.7
Eurazeo                                                      0.6
Partners
Others (SFGI                                                 18.1
...)
Cash                                                         86.8
Non-affected                                                 -110.4
debt
Tax on
unrealized                                                   -84.4            -108.6
capital gains
Treasury         3.5%     2,300,820             74.1          
shares
Total value of assets                             3,574.0       3,672.9
after tax
NAV per share                                                54.1             55.6
Number of                                                    66,021,415       66,021,415
shares


Valuation methodology

The valuation methodology conforms to the recommendations of the International
Private Equity Valuation Board (IPEV). The valuations of non-listed
investments are based primarily on multiples of comparables or of
transactions. For listed investments, the retained value is the average over a
20-day period of the volume-weighted share price. The values retained for
non-listed companies were the subject of a detailed review by an independent
professional appraiser, Accuracy, as specified in the signed engagement
letter. This review supports the retained values and states that the
evaluation methodology conforms to IPEV recommendations.

^* Net of allocated debt
^(1) Accor/Edenred shares held indirectly through Colyzeo funds are included
on the line for these funds.

Appendix 2 – Net Asset Value as of September 30, 2012 pro forma of announced operations by
ANF Immobilier^(1)
(unaudited)
                                                 price           NAV as of        With NAV
                %        Nb shares                  Sept.         at its
                    held                         (€)             30, 2012         NAV @ €
                                                                 (€M)             31.0
Private                                              1 776,5      
Equity
Listed
Private                                                          1 253.4
Equity
Rexel               18.0%       48,790,605       15.92           776.6
Accor               8.9%        20,101,821       26.56           533.8
Edenred             8.9%        20,101,821       21.78           437.7
Accor/Edenred                                                    -494.8
net debt
Accor/Edenred                   20,101,821                       476.8
net* ^(2)
Real Estate                                                      327.9            373.9
ANF                 51.3%       9,090,804        25.98^(4)       236.2            282.2
Immobilier
Colyzeo and
Colyzeo 2                                                        91.8
^(2)
Other listed
assets
Danone              2.6%        16,433,370       42.60           700.0
(pledged OEA)
Danone debt                                                      -700.0
(OEA)
Danone net*
Other assets                                                     18.7
Eurazeo                                                          0.6
Partners
Others (SFGI                                                     18.1
...)
Cash^(3)                                                         313.3
Non-affected                                                     -110.4
debt
Tax on
unrealized                                                       -40.3            -49.3
capital
gains^(3)
Treasury         3.5%     2,300,820                 74.1          
shares
Total value of assets                                 3,613.2       3,650.2
after tax
NAV per share                                                    54.7             55,3
Number of                                                        66,021,415       66,021,415
shares

^(1) In the case in which all shareholders tender their shares in response to
the offer (excepting treasury shares)
^(2) Accor/Edenred shares held indirectly through Colyzeo funds are included
on the line for these funds.
^(3) Deferred taxes related the divestitures announced by ANF Immobilier was
transferred to "various assets-liabilities" for an amount of € 31.5 million,
an effective rate of 12.2% compared to an expected rate of 19.6%. This tax
should not lead to a disbursement given the carry-back receivable of € 129
million as of September 30, 2012.
^(4) Weighted average volumes as of September 30, 2012 restated for
distributions announced by ANF Immobilier

^* Net of allocated debt

Appendix 3 – Revenues as reported by quarter

                                                                                                                                           
                   Q1                                           Q2                                           Q3                                           9 months
                                 2011           Change                        2011           Change                        2011           Change                        2011           Change
               2012       Reported    2012/2011       2012       Reported    2012/2011       2012       Reported    2012/2011       2012       Reported    2012/2011
                                                Reported                                     Reported                                     Reported                                     Reported
Consolidated                                                                                                                                                  
sales
Eurazeo            2.3           3.0            -22.3%          6.7           9.6            -30.5%          1.4           4.9            -71.7%          10.4          17.5           -40.6%
Autres             4.6           0.2                            27.2          21.6           +25.8%          5.1           3.6            +39.8%          36.8          25.4           +44.8%
ANF                19.4          18.4           +5.4%           19.1          26.9           -28.8%          19.2          19.0           +1.4%           57.7          64.2           -10.1%
Immobilier
APCOA              172.7         174.8          -1.2%           167.4         184.6          -9.4%           174.5         178.8          -2.4%           514.6         538.2          -4.4%
ELIS               280.5         268.0          +4.7%           300.2         291.1          +3.1%           310.0         303.1          +2.3%           890.7         862.1          +3.3%
Europcar           393.6         402.4          -2.2%           494.5         507.1          -2.5%           616.6         616.0          +0.1%           1,504.7       1,525.5        -1.4%
Eurazeo PME        105.3         -              N/A             113.1         -              N/A             106.0         90.6           +17.0%          324.4         90.6           +257.9%
3SP Group          9.7           -              N/A             12.5          -              N/A             8.7           -              N/A             30.9          -              N/A
Autres          -          -           N/A          0.6        0.0         N/A          0.4        -           N/A          1.0        0.0         N/A
Consolidated    988.2      866.8       +14.0%       1,141.2    1,040.9     +9.6%        1,241.9    1,215.9     +2.1%        3,371.2    3,123.6     +7.9%
sales

Proportional
revenue
(EM)*
Accor
(Reported          126.0         125.1          +0.7%           149.7         150.8          -0.8%           150.7         149.2          +1.0%           426.4         425.1          +0.3%
for Motel 6)
Edenred            26.3          25.5           +3.4%           25.9          25.7           +0.6%           26.2          25.0           +4.5%           78.4          76.2           +2.8%
Rexel              615.6         573.2          +7.4%           637.3         602.3          +5.8%           656.4         612.5          +7.2%           1,909.3       1,788.0        +6.8%
Moncler            74.0          -              N/A             27.2          -              N/A             102.2                        N/A             203.4         -              N/A
Foncia             55.0          -              N/A             59.8          -              N/A             55.8          59.1           -5.5%           170.7         59.1           +188.9%
Intercos           27.9          23.5           +18.5%          26.9          28.3           -5.0%           35.0          27.7           +26.5%          89.8          79.5           +12.9%
Fonroche           4.8           7.9            -39.5%          5.5           15.7           -64.7%          4.7           13.1           -64.5%          15.0          36.8           -59.2%
Fraikin         26.2       26.4        -0.5%        26.3       26.5        -0.9%        26.1       27.3        -4.3%        78.7       80.2        -1.9%
Proportional    955.9      781.6       +22.3%       958.7      849.5       +12.9%       1,057.1    913.9       +15.7%       2,971.6    2,545.0     +16.8%
revenue
                                                                                                                                       
Economic        1,944.0    1,648.4     +17.9%       2,099.9    1,890.4     +11.1%       2,298.9    2,129.9     +7.9%        6,342.9    5,668.6     +11.9%
revenue
^* Equity
method


Appendix 4 – Revenues restated by quarter*
                                                                                                                                                       
                   Q1                                           Q2                                           Q3                                           9 months
                                 2011           Change                        2011           Change                        2011           Change                        2011           Change
               2012       Restated    2012/2011       2012       Restated    2012/2011       2012       Restated    2012/2011       2012       Restated    2012/2011
                                                Restated                                     Restated                                     Restated                                     Restated
Consolidated
sales
Eurazeo            2.3           3.0            -22.3%          6.7           9.6            -30.5%          1.4           4.9            -71.7%          10.4          17.5           -40.6%
Autres             4.6           0.2            N/A             27.2          21.6           +25.8%          5.1           3.6            +39.8%          36.8          25.4           +44.8%
ANF                19.4          18.4           +5.4%           19.1          26.9           -28.8%          19.2          19.0           +1.4%           57.7          64.2           -10.1%
Immobilier
APCOA              172.7         174.8          -1.2%           167.4         184.6          -9.4%           174.5         178.8          -2.4%           514.6         538.2          -4.4%
ELIS               280.5         268.0          +4.7%           300.2         291.1          +3.1%           310.0         303.1          +2.3%           890.7         862.1          +3.3%
Europcar           393.6         402.4          -2.2%           494.5         507.1          -2.5%           616.6         616.0          +0.1%           1,504.7       1,525.5        -1.4%
Eurazeo PME        105.3         84.3           +24.9%          113.1         86.9           +30.2%          106.0         79.6           +33.2%          324.4         250.8          +29.4%
3SP Group          9.7           13.5           -27.7%          12.5          15.7           -20.2%          8.7           15.5           -44.3%          30.9          44.7           -30.8%
Autres          -          -           N/A          0.6        0.0         N/A          0.4        -           N/A          1.0        0.0         N/A
Consolidated    988.2      964.6       +2.4%        1,141.2    1,143.5     -0.2%        1,241.9    1,220.4     +1.8%        3,371.2    3,328.5     +1.3%
sales

Proportional
revenue
(EM)*
Accor
(restated          126.0         125.1          +0.7%           149.7         150.8          -0.8%           150.7         149.2          +1.0%           426.4         425.1          +0.3%
for Motel 6)
Edenred            26.3          25.5           +3.4%           25.9          25.7           +0.6%           26.2          25.0           +4.5%           78.4          76.2           +2.8%
Rexel              615.6         573.2          +7.4%           637.3         602.3          +5.8%           656.4         612.5          +7.2%           1,909.3       1,788.0        +6.8%
Moncler            74.0          63.1           +17.2%          27.2          22.1           +23.5%          102.2         93.5           +9.3%           203.4         178.7          +13.9%
Foncia             55.0          56.0           -1.9%           59.8          63.2           -5.3%           55.8          59.1           -5.5%           170.7         178.3          -4.3%
Intercos           27.9          23.5           +18.5%          26.9          28.3           -5.0%           35.0          27.7           +26.5%          89.8          79.5           +12.9%
Fonroche           4.8           7.9            -39.5%          5.5           15.7           -64.7%          4.7           13.1           -64.5%          15.0          36.7           -59.2%
Fraikin         26.2       26.4        -0.5%        26.3       26.5        -0.9%        26.1       27.3        -4.3%        78.7       80.2        -1.9%
Proportional    955.9      900.8       +6.2%        958.7      934.7       +2.6%        1,057.1    1,007.4     +4.9%        2,971.6    2,842.9     +4.5%
revenue
                                                                                                                                       
Economic        1,944.0    1,865.3     +4.2%        2,099.9    2,078.2     +1.0%        2,298.9    2,227.8     +3.2%        6,342.9    6,171.3     +2.8%
revenue
^* Equity
method

* Restated in Q3 disposals of Mors Smitt by Eurazeo PME and Motel 6 by Accor
and pro forma acquisition of 3SP Group, Moncler. In H1, the pro forma
restatement reflects the acquisitions of Moncler, Foncia and Eurazeo PME

Contact:

Eurazeo
Investor Relations:
Caroline Cohen, + 33 (0)1 44 15 16 76
ccohen@eurazeo.com
or
Corporate & Financial Communications:
Sandra Cadiou, + 33 (0)1 44 15 80 26
scadiou@eurazeo.com
or
Press
Havas Worldwide Paris:
Charles Fleming, +33 (0)1 58 47 94 40 / +33 (0)6 14 45 05 22
charles.fleming@havasww.com
 
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