DERICHEBOURG - Universal registration document 2018-2019

03

GROUP MANAGEMENT REPORT

Significant events during the fiscal year 3.1

87

Drop in volumes and prices in the recycling business 3.1.1

87 87 88 88 88 88 90 92 94 95 96 97 99

Available outlets for shredder residues 3.1.2

Signing of a loan agreement with the European Investment Bank 3.1.3 Signing of an agreement for the acquisition of the Lyrsa Group 3.1.4 Change in regulations relating to the cost of labor in France 3.1.5

Other changes in the scope of consolidation 3.1.6

Earnings from businesses and financial position 3.2

90

Group results 3.2.1

Environmental Services 3.2.2

Multiservices 3.2.3

Holding Companies 3.2.4

Outlook 3.2.5

The Group’s net financial debt 3.2.6

Investments 3.2.7

Risk factors 3.3

100

The risk analysis and monitoring process 3.3.1

100 100 102 104

Overview of principal risks identified and the risk management system 3.3.2

The internal control system 3.3.3

Insurance 3.3.4

Shareholder structure and threshold crossing 3.4

105

Shareholder structure 3.4.1 Threshold crossing 3.4.2

105 106 106

Analysis of the share capital by type of shareholder 3.4.3

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