Newrest Activity Report 2014/15

ACTIVITY REPORT 2014 ∙ 15

With origins in Group Catair in 1996, and founded by its Co-CEO’s Olivier Sadran and Jonathan Stent-Torriani in Toulouse (France), Newrest is today a global leader in multi-sector catering. With 2014/15 revenues under management of almost 1.5 Billion Euros and more than 28,000 employees worldwide, Newrest is present in 50 countries.

Newrest is the only major catering company active in all catering and related hospitality segments including airline catering, rail catering, contract catering, concession retail, buy-on-board, Remote site and support services.

A CT I V I T Y R E P O R T 2014 ∙ 15

▲ “Newrest ‒ Catering unlimited” artwork

by Marc Giraud ‒ Newrest Morocco, created for the 10th Anniversary of Newrest and inspired

by Pierre Javelle and Akiko Ida.

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SUMMARY

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01

▼ G R OUP P R ESENTATI ON

P. 06

02

▼ GROUP ACTIVITIES

03

P. 22

OPERATING PERFORMANCE

P. 44

P. 008

I N F L I G H T P. 024

K E Y E V E N TS

P. 046

H I STO R Y P. 010

R A I L P. 028

EUROPE DIVISION

P. 048

G R O U P ST R U CT U R E P. 012

REMOTE SITE

N E W R E ST I S . . .

P. 032

GLOBAL NETWORK

P. 014

C AT E R I N G P. 036

KEY FIGURES

P. 016

R E TA I L P. 040

SHAREHOLDER ST R U CT U R E P. 017 EXECUTIVE BOARD

P. 018

O R G A N I Z AT I O N C H A RT P. 020

N O RT H A F R I C A D I V I S I O N P. 062 SOUTHERN AFRICA D I V I S I O N P. 072 M I D D L E - E A ST, A S I A & O C E A N I A D I V I S I O N P. 084 AMERICA DIVISION

P. 092

003

▼

04

G R OUP COMMI TMENTS

P. 102

N E W R E ST ' S CO M M I T M E N TS …

TO I TS C L I E N TS A N D CO N S U M E R S

P. 104

TO I TS E M P L O Y E E S

P. 110

TO I TS PA R T N E R S

P. 116

TO I TS S O C I A L E N V I R O N M E N T P. 118 TO T H E P L A N E T

P. 123

Newrest/Matmut sailing boat skipped

by Fabrice Amedeo and Éric Péron ▼

004

I N T R O D U CT I O N Airplane loading for Emirates – Athens airport (ATH), Greece ▶

954.9 M€

1,495.0 M €

Consolidated sales 2014∙15

Sales under management 2014∙15

▲ + 12.9%

Consolidated operating profit 2014∙15

2014/15 was a challenging year in all aspects for Newrest Group.

Despite a number of international headwinds the group managed to produce an excellent overall result.

Global consolidated sales grew by 8.5%, while consolidated operating profit was improved by 12.9% over prior year. The year was particular in that it was dedicated to consolidating dimensional changes in our key sectors, while at the same time taking advantage of our healthy financial situation in order to accelerate purposeful organic growth of our portfolio of companies as well as targeted acquisitions to enhance our network in various sectors.

The spectre of terrorism, aggravated by the conflicts in Syria and the Ukraine has pressured the European tourist industry, while the growing issue of the refugee crisis in Europe is placing enormous pressure on governments and populations in general in terms of security, social costs, and political extremism.

Faced in addition with a complicated environment due to the general European debt crisis, Greek political and economic situation, Russian monetary (and tourism) decline and oil price effect, and the global decline of oil & gas and commodity prices, the Group

invested significant efforts in operational execution, cost reductions and productivity improvements, supply chain aggregation and simplification, global commercial offering, and a high focus on quality and service in order to solidify a reliable long-term business capable of withstanding external shocks, irrespective of sector.

Key highlights during the year were the finalisation of the construction of new catering units in Toronto and Santiago de Chile, four new catering units in the United Kingdom, new units in Brussels and Charleroi in Belgium, completion of our brand new unit at the airport in Accra, and finally a new unit in Casablanca, Morocco. Further we have invested in our Central and South American growth strategy with the acquisition of Casa Philips in Costa Rica and the launching of operations in Colombia. In the retail sector, four new points of sales were opened in Casablanca, including Paul and Illy franchises, and six new Sky Sales outlets in Saudi Arabia. Despite a challenging

global oil & commodity market, the Group progressed again in the remote site sector with the new operations of Saipem TAD-1 rig operations in Congo and the launch of our major operation in New Caledonia on behalf of Vale at their Deep South nickel-cobalt plant. In terms of airline lounges and lounge management, the Group has almost doubled the number of lounges it manages for airline customers to 44 in 2015. Finally we have restructured our contract with the SNCF in France, a key contract in our rail sector, for a win-win with the client in order to improve innovation, efficiency, productivity, reliability and customer service while extending our relationship until 2020.

We have simplified our central structures in order to be more efficient, reduce our overheads, and streamline our decision-making processes. We reduced the number of zones in Africa to two from three as our local management structures have become more mature and capable. We have centralised a single Marketing & Sales structure with a focus on our key B-to-B structures of Inflight, Rail, Remote Site, and Catering in order to harmonize our offering, centralise our tool kits, and speed up customer response.

We have invested hundreds of thousands of hours in training and skills upgrade for our managers and employees worldwide, in order to support internal promotion, being well aware that our people are our most valuable resource. We instituted and enhanced share purchase program in order to help more than 100 of our key managers acquire shares, or increase their shareholding, in our company, reflecting our absolute belief in the value of employee ownership of the company in order to develop leaders and attract talent. Strong, stable ownership and our formidable independence, allows us to concentrate on a long-term view for a durable business; and we are convinced this model is a major differentiating factor over our major competitors in all our key business sectors and brings key value to our customers.

We are currently in the second year of our 3-year strategic plan and have already achieved all the key objectives set in Cape Town in 2013/14; we are already in the process of developing our new 3-year plan which we expect to roll out in January 2016. We will review and try to overcome our weaknesses, further reduce unnecessary costs, and focus incessantly on cost-effective purchasing and logistics.

Where possible we wish to be part of the fabric of the

local environment, to contribute to the social economic development both in our business processes and in terms of culture, respect and humanity. We will continue to invest in growth markets, while focusing on our fundamentals in more mature markets. We need to innovate with new business models and services, but also focus on our core strengths in catering going forward. We will certainly increase our focus on mature industrial catering markets, where we believe our simple low cost, high service quality model will appeal to customers and consumers alike.

We will strive to continue to improve, to stay lean but to accelerate our execution, and to drive ourselves to be better every day. We are well aware that our customers determine our success; we will endeavour to increase quality while offering highly competitive costs and services. Newrest also intends to actively embrace the digital age: we have already established a competence centre focussed only on digital technology in our headquarters in order to take advantage of a digital industry that has created a knowledge-based society surrounded by a hightech global economy, which influences how manufacturing throughput and the service sector operate in an efficient and convenient way. The information technology industry allows individuals to explore their personalized needs, therefore simplifying the procedure of making decisions for transactions and significantly lowering costs for both producers and buyers; we intend to take advantage of this digital technology in order to get closer to our customers and consumers and smarter and more efficient in our processes. Finally we need to learn and adapt in ever changing markets in order to build a better, more resilient company, while retaining our “family” company values and ethics.

2014/15 was an arduous but successful year. We expect major challenges in the coming year and have geared up our teams for the tasks ahead of us. We would like to thank our customers for their trust and loyalty, our staff for their hard work and dedication, and our multiple stakeholders for their confidence and cooperation.

Olivier Sadran

Jonathan Stent-Torriani

Activit y Repor t 2014 ∙ 1 5 ▶ Introduc tion

005

006

G R O U P P R E S E N TAT I O N

007

01

A320 airplane loading ‒ Athens airport (ATH), Greece ◀

008

N E W R E ST I S . . .

5

A CT I V I T Y S E CTO R S

1,000,000 MEALS SERVED PER DAY

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

009

50

CO U N T R I E S

954.9 M € Consolidated sales 2014∙15

1,495.0 M €

€

Sales under management 2014∙15

28,000 EMPLOYEES

010

H I STO R Y

1996

2005

C R E AT I O N O F C ATA I R

C R E AT I O N OF NEWREST

by Olivier Sadran

2001 Merger of Catair with Eurest Inflight (Compass inflight catering division)

2006 Opening of the inflight catering unit at Paris Charles de Gaulle

14 COU NTR I E S 2 ACTI VI TY S E CTORS 8,000

E MPLOY E E S

2015

Acquisition of Compagnie des wagons-lits Acquisition of Airshop

Joint venture dnata Newrest in South Africa and Newrest Gulf in Qatar, Kuwait, Bahrain and UEA Award of SNCF train contract in France

Newrest celebrates its 10th Anniversary

Acquisition of Casa Phillips in Costa Rica Starting of operations in New Caledonia

2010

2008

2013

2012

Joint venture with Saudia Catering in Saudi Arabia, and Wacasco in Oman

Joint venture with SOS in the Philippines and Red Med in Algeria

Acquisition of LSG Sky Chefs in Spain

I PO Saudia Airlines Catering

2014 Acquisition of Atasa in Morocco Acquisition of 100% of First Catering in Ghana, Zambia and RSA

28 CO U N T R I E S

46 COU NTR I E S

49 COU NTR I E S

4 ACT I V I TY S E CTO RS

5 ACTI VI TY S E CTORS

5 ACTI VI TY S E CTORS

12,100 E M P LOY E E S

23,000 E MPLOY E E S

28,000 E MPLOY E E S

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

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012

G R O U P ST R U CT U R E TUR N OVER BY B USINESS (Managed ∙ excluding Saudia Catering)

15.2% R E M OTE SI TE

44.1% IN F LIGHT

13.1% CATE R I NG

24.4%

3.2% R E TA I L

RAIL

* Managed excluding Saudia Catering

I NFLI G HT

RAIL

REMOTE SITE

30 CO U N T R I E S

4 COU NTR I E S

24 COU NTR I E S

429.5 M€ Turnover*

236.9 M€ Turnover*

147.4 M€ Turnover*

ACTI V I TI ES

ACTIVITIES

ACTIVITIES

• C atering • V IP Catering • B uy on board • D uty Free on bord • L ounges • I ntegrated mangagement services • L ogistics

• C atering •H otel services • L ogistics • S ervices to passengers (B to C) • C ounsel & technical assistance (B to B)

•C amp construction & management •H otel services • C atering • L eisure • F acility management

▼

▼

▼

SUBS I DA R I E S

SUBSIDARY

SUBSIDARY

• Newrest Inflight • Airshop Solutions • Airshop

Newrest Wagons-Lits

Newrest Remote site

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

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ACTI VITY DISTRIB UTION (Total number of served meals in 2014/15)

18.6% CATE R I NG 12.9% R E M OTE SI TE

59.3% IN F LIGHT

5.6% RA I L 3.6% R E TA I L

C ATER I NG

RETAIL

26 CO U N T R I E S

14 COU NTR I E S

127.5 M€ Turnover*

31.4 M€ Turnover*

ACTI V I TI ES

ACTIVITIES

Catering in:

• Proprietary brands • I nternational franchises • L ocal franchises

• C ompanies • A dministration • Education • H ealth system • F acility management

•B ars, shops and restaurants in airports, at highway service stations, on board ships and at bus terminals

▼

▼

S U BS I DA RY

SUBSIDARY

Newrest Catering

Newrest Retail

◀ Lunch service at Mejillones’ petrol extraction camp – Chile

014

GLOBAL NETWORK

EUROPE Austria Belgium Croatia Cyprus France

French West Indies Greece The Netherlands Portugal Reunion Island Spain Switzerland United Kingdom

M IDDL E-EAST, ASIA & OCEANIA Bahrain Kuwait New Caledonia new Oman Philippines Qatar Saudi Arabia United Arab Emirates

AM E RI C A Bolivia Brazil Canada

Chile Costa Rica French Polynesia Mexico Panama Peru

AF RICA new

NORTH AFRICA

SOUTHERN AFRICA

Algeria Egypt Ghana Guinea-Conakry Liberia Libya Morocco Niger Nigeria Tunisia

Angola Cameroon Congo-Brazzaville Gabon Madagascar Mozambique South Africa Tanzania new Uganda Zambia

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

015

TUR NOVER BY DIVISION (Managed)

39.9% E UR OPE

8.2% AMERICA 7.8%

NO RT H AF RICA

5.6%

S O U T H E R N AF RICA

38.5%

M I DDLE -E A ST, A SI A & OCE A NI A

G R OUP ’S TUR NOVER EVOLUTION BY DIVISION (Managed turnover between 2013/ 1 4 and 2014/ 1 5)

EURO P E

A MERIC A

N ORTH A F R I C A

SOUTH E R N A F R I CA

▲ +6.1%

M I D D L E - E A ST, A SI A & OC E A N I A

▲ +17.2%

600 M€

4 00 M€

▲ +9.5%

▲ +4.0%

200 M€

▲ +8.0% 0 M€

2 0 1 4 / 15: 5 96. 2 M€ 2 0 1 3 / 14: 5 61. 9 M€

201 4/ 1 5: 1 21. 9 M€ 201 3/ 14: 1 1 1. 3 M€

2014/15: 117.2 M€ 2013/14: 112.8 M€

2014 /15: 83.6 M€ 2013/14: 77.4 M€

2014/15: 576.2 M€ 2013/14: 4 91.8 M€

016

KEY FIGURES G R OUP ’S TURNOVER EVOLUTION (in million euros)

1,495.0

1,6 0 0 M€

1, 200 M€

0 M€

307.1

2006/ 07

2009/10

2010/11

880.3

987.3 662.0

2008 /09

595.1

893.9 2 0 0 4 / 0 5 2005/ 06

282.1

261.0

241.5

196.0

200 M€

569.5

638.6 384.6

2007/ 08

4 00 M€

432.1

618.2 372.6

6 00 M€

716.0

800 M€

1,085.0

1, 00 0 M€

954.9

1,318.5

1, 40 0 M€

2011/12

2012/13

2013/14

2014/15

■ Consolidated turnover ¦ ■ Managed turnover (including Saudia Catering)

SAUD I A C ATER ING’ S TURNOVER EVOLUTION (Not consolidated, minority shareholding under Newrest management)

542 M$

555 M$

75 %

2008

2009

2010

69 %

383 M$

69 %

77 %

272 M$

313 M$

80 %

200 M$

84 %

236 M$

284 M$

72 %

4 00 M$

69 %

446 M$

597 M$

67 %

6 00 M$

0 M$ 2007

2011

2012

■ Airline Catering ¦ ■ Other activities

2013

2014

2015

G R OUP ’S FI V E MAJ OR COUNTRIES TURNOVERS (% of Group’s total managed turnover 2014/ 1 5 ∙ excluding Saudia Catering)

F RAN CE

35.9% 348.8 M€

SPAIN

11.7% 114.1 M€

OT H E R CO UN TRIES

37.5% 364.1 M€

M OR OCCO

6.7 % 65.6 M€ G R E E CE

4.1% 40.1 M€ PE R U

4.1% 39.5 M€

S H A R E H O L D E R S ST R U CT U R E A solid economic development of a company requires a solid shareholder structure. Newrest Group’s capital is majority-owned by its management – Newrest is held at 90.2% by over 250 managers – with the

remaining shares held by trusted private investors.

The company is therefore in control of its strategic choices – and shall continue to choose long-term sustainable development over short-term gains.

9.8 %

FI N A NCIAL I N V ESTORS :

5.4 %

NA X I C A P PA RTN ERS

2.9 %

A R D I A N ( E X . A X A PE)

1.5 %

B NP PA R I BAS DVP

90.2 % M A N AGEM EN T

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

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018

EXECUTIVE BOARD

1

2

3

4

5

6

7

8

9

10

11

12

13

14

▶

1OLIVIER SADRAN

2JONATHAN STENT-TORRIANI

Olivier Sadran is the founder of Catair in France in 1996 and was principally responsible for the development of the company under the name of Eurest Inflight Services. French entrepreneur, he is the principal shareholder of several French companies in different sectors.

Previously CEO of Compass Group Southern Europe, and partner of Olivier Sadran in a number of ventures, he brings his strategic and senior management experience acquired over numerous years in the airline catering, industrial catering and hotel services industries to the Group.

3Emmanuelle B O CC AR D O P UI G

5Benoît VIGNON

CHIEF EXECUTIVE OFFICER

VICE PRESIDENT EUROPE DIVISION

4Olivier MAURICETTE VICE PRESIDENT FRANCE

CHIEF EXECUTIVE OFFICER

M A J O R P R OJ E CTS & A U D I T D I R E CTO R

6Monika TRAWINSKA

G E N E R A L S E C R E TA R Y

Graduate of Essec in 1991, Emmanuelle initially worked for Arthur Andersen and Ernst & Young.

Recruited in 2000, she was in charge of Group Finance, Country Manager (France) and Internal Audit. Emmanuelle has operational responsibility for Europe Division and is based in Toulouse, France.

Olivier has worked for the Group in several positions for over a decade, amongst which Country Manager (France, Tunisia), head of North Africa Division and Vice President Africa. Finally, he was promoted to Vice President France. Olivier is based in Toulouse, France.

Benoît graduated from Business School and joined Newrest in 2012 after gaining several years of experience working with E&Y in Paris. He brought his expertise in process structuring to the Group, first occupying the post of Internal Auditor before being named Director for Major Projects & Audits in 2015. Benoît is based in Toulouse, France.

7 P ierre BRUGÈRE

8 Pascal REGIMBAUD

9Jessica HAYES

10 Matthieu JEANDEL

After many years of experience in airlines (United Airlines, Air France, UTA), airline catering and concession contract companies (LSG, Elior), Pierre joined Newrest in 2007. Previously VP of Europe, Pierre has now the commercial responsibility for all activity sectors. He is based in Toulouse, France.

Pascal Regimbaud was in charge of operations and later of the commercial department for Universal Sodexo, before being in charge of the commercial division of CIS. He joined Newrest in 2008 in order to develop the Remote site Division, bringing new competence and know-how. Pascal is based in Toulouse, France.

After having graduated from International Management and gathered years of experience in the hotel industry working for Marriots Hotels, Jessica joined Newrest – formerly Catair – in 2002. She held several financial and commercial positions before being promoted to Commercial Director for inflight and rail in 2015. Jessica is based in Toulouse, France.

Matthieu held various financial roles first with Thalès, then with Deloitte & Touche Corporate Finance. He joined Compass Group in 2003, based in Dubai with responsibility for finance in the Middle East and Africa. Joining Newrest in 2006, Matthieu is today in charge of Finance and Administration. He is based in Toulouse, France.

11 Olivier LAURAC

12 F a b i e n R EVOL

13 O livier SUAREZ

14 Marc STARKÉ

Graduate of Science Specialization Finance, Olivier worked in several countries around the world. He was recruited in 2008, and held positions as Country Manager in Oman, Angola and COO in South Africa Division.

Olivier is now Vice President in charge of America Division. He is based in Santiago de Chile, Chile.

Fabien is graduated in economics & marketing with a masterin international business. His specialization in Asian cultures brought him to Asia before joining Newrest in 2010 as Operations Director.

Today, Fabien is Country Manager Qatar and COO Middle-East (excluding Saudi Arabia). He is based in Doha, Qatar.

Olivier works for the Group since 1998. Graduated in International Public Law, he hold several positions as Commercial and Countr y Manager (France, Spain).

Today, Olivier is Country Manager Morocco and in charge of Northern Africa Division. He is based in Casablanca, Morocco.

Holding a MBA in Hospitality Business, Marc has developed his skills working in Asia, the Middle-East and Africa. He joined Newrest Group in 2013 as Country Manager Angola. Marc is now COO of Southern Africa Division.

He is based in Johannesburg, South Africa.

VICE PRESIDENT S A L E S & M A RKETIN G

VICE PRESIDENT A M E R I C A D I V ISIO N

VICE PRESIDENT REMOTE SITE

CO O MIDDLE- EAST DIVISIO N , ASIA & OCE A NI A

CO M M E R C I A L D I R E CTO R INFLIGHT & RAIL

CO O N O R T H A F R I C A DI V I SI ON

Graduate of International Business Law, Monika joined Newrest in 2006 as Legal Counsel. After assisting the presidents during several years, she was promoted in 2012 to Corporate Secretary.

Monika is responsible for legal Group’s activities and is based in Toulouse, France.

VICE PRESIDENT FINANCES & A DM I NI STRAT I ON

CO O S O U T H E R N A F R I C A DI V I SI ON

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

019

020

CEOs

O R G A N I Z AT I O N C H A RT OLIVIER SADRAN CO - C E O

E UR O P E Emmanuelle BOCC AR D O PUIG

NORTH AFRIC A Olivier SUAREZ

DIVISIONS

VICE PRESIDENT

Olivier MAURICETTE VICE PRESIDENT FRANCE

COO

Bernard MARTINEZ (Benelux) / J. VAN DE PORT (Amsterdam) / F. THEVENON (Brussels)

Bruno HERICHÉ / Arezki AMIR · Remote site ALGERIA

BENELUX

Olivier SUAREZ / Marc GIRAUD

Frédéric GATTEAU / Louis SHENOUDA · Duty Free

MOROCCO

SPA IN & P O RTUG A L

Nicolas LETELLIER

Pierre MAGNARD

TUNISIA

AUSTRIA

E. LEPRÊTRE · Inflight / F. CARPENTIER · Rail / FRANCE

Thomas GINOUVES

FRENCH WEST INDIES

Jean-Charles BOUQUET REUNION ISL AND

Xavier TERRIER

Manuella KAPAGIANNIDI

GHANA

GREECE & CYPRUS

Sébastien JOLY

Xavier DELALANDE

GUINE A- CONAKRY

C R O AT I A

Jean-Luc SADRAN

Philippe TÉTU

LIBERIA

SWITZERL AND

Jean-Pierre DE VIDO

Peter BERKELEY

NIGER

UNITED KINGDOM

Laurent MOUSSARD

M AT R I X

NIGERIA

SALES & MARKETING

FINANCES & ADMINISTRATION

Pierre BRUGÈRE

Matthieu JEANDEL

VICE PRESIDENT SALES & MARKETING

VICE PRESIDENT FINANCES & A D M I N I S T R AT I O N

Pa s c al REG IMB AUD

Th o ma s L I A RTE

Je s sic a H AY E S

A le x an dre CEL L IER- CO URTIL

VICE PRESIDENT REMOTE SITE COMMERCIAL DIRECTOR INFLIGHT & RAIL

C at h e r in e CH A PL A IN

C O M M E R C I A L D I R E C T O R C AT E R I N G

HUMAN RESOURCES

Guillaume JARLAN Teresa ESPADA

C O N S O L I D AT I O N & R E P O R T I N G

GROUP TREASURER

X av ie r PA L A ISE G R O U P TA X

QHSE

HUMAN RESOURCES DIREC TOR

QHSE DIREC TOR

PA RTNER

+ Pa t r i c k T I M B A RT COUNSEL TO THE CEOS

J O N AT H A N S T E N T- TO R R I A N I CO - C E O

SO U TH E R N AFRICA M a rc STARKÉ COO

A M E R ICA & FR E NCH PO LYNESIA Olivier LAURAC VICE PRESIDENT

Activit y Repor t 2014 ∙ 1 5 ▶ 01 Group Presentation

021

Henri FISZER

MIDDLE- EAST, ASIA & OC EANIA Fabien REVOL COO

M I DDLE -E AST Yvon MARTINEZ

Louis MALIKITÉ

BOLIVIA

CAMEROON

Frédéric HILLION

Abraham BALIMA

CANADA

CONGO -BR A ZZ AVILLE

Oriane MARRAUD DES GROTTES

Erik DELFOUR GABON

Thomas MATTHEY

CHILE

Sountou BOUSSO

C O S TA R I C A

Alexandre LELIÈVRE

MEXICO

Zied MANOUBI

PERU

Jean-Charles LANCIAUX

F R E N C H P O LY N E S I A

M I DDLE -E AST

Wajdy ALGHABBAN

C E O O F S A U D I A C AT E R I N G

Nicolas PAULY

Martial VERINE · Catering & Remote site

OMAN

Fabien REVOL

SAUDIA AR ABIA

Q ATA R

Jaap ROEST · Inflight & CPU SAUDIA AR ABIA

Pierre MARTENS

SOUTH AFRICA

Felicia GASPAR

ANGOLA

Olivier BILLEREY

MADAGASCAR

O C E ANI A

ASI A

Aurélie GUEGUEN

Louis-Paul HEUSSAFF

NEW CALEDONIA

PHILIPPINES

Arnaud PRADEL

UGANDA ZAMBIA

MAJOR PROJECTS & INTERNAL AUDIT

IT SERVICES

COMMUNICATION

DIGITAL

LEGAL

Benoît VIGNON

Christophe BAJON

Dominique PILATTE

Baptiste CHANOURDIE

Monika TRAWINSKA

MAJOR PROJECTS & INTERNAL AUDIT DIREC TOR

Nico la s GO NZ A L E S

INTERNAL AUDITOR INFLIGHT

Emmanu e l B O NNIN PROJECT MANAGER

IT DIREC TOR

C O M M U N I C AT I O N DIREC TOR

D I G I TA L P R O J E C T MANAGER

G E N E R A L S E C R E TA R Y

G R O U P A CT I V I T I E S

02 Small dishes proposed in our airport lounge in Johannesburg – South Africa ◀

Newrest is today a global leader in multi-sector catering. The Group is the only major catering company active in all catering and related hospitality segments including airline catering, buy-on-board, rail catering, concession retail, duty-free, contract catering, Remote site and support services. Newrest is committed to constant improvement and innovation for its clients, the well-being and progress of its employees and managers, a sustainable and durable development of the company, and total respect of social and environmental values in all of its activities.

024

INFLIGHT Newrest high loader on the way to client’s airplane – Athens airport (ATH), Greece ▶

429.5 M€

593,000

71

Managed turnover 2014∙15 excluding SACC

Meals served per day

Production units

MEALS SERVED BY DIVISIONS (Served meals in inflight business)

55.4% EURO PE

7.5% A M E R I CA

31.8%

2.0% NORTH A FR I CA

MIDDLE- EAST

3.3% SOUT H E R N A FR I CA

Newrest inflight’s international network counts 71 production units and 21 logistic centres in 30 countries all around the world, mainly in Europe and America.

Activit y Repor t 2014 ∙ 1 5 ▶ 02 Group Ac tivities

025

Inflight catering, duty-free on board, integrated management of inflight and logistics.

By providing all of these services, Newrest Inflight is taking responsibility for everything that is not a core part of the airline business.

I N F L I G H T C AT E R I N G Newrest Inflight creates customized meals adapted to meet the high quality standards of airlines. Every day, our production units develop thousands of recipes for the most prestigious airlines as well as low-cost companies who choose a more simplified

catering service. Whether based on religious, cultural, medical, or health reasons, our passengers’ dietary requests are always fulfilled. Our nutritionists offer advice and support in orienting airlines’ requirements. Health and quality experts are always available to ensure that quality, hygiene, and food safety standards are optimal. We rigorously implement HACCP standards and most of our units are ISO 9001 certified. Our teams have ongoing training to guarantee an excellent level of service on a constant basis. Recording data related to the reception and handling of ingredients for each service guarantees accessible and easily consulted traceability.

D U T Y- F R E E & B U Y- O N - B O A R D Newrest integrated the management of all inflight services to its subsidiary Airshop Solutions for airlines offering paid services (snack and dutyfree sales) on board their flights. With regard to

INFLIGHT

026

▶ Opposite: Trolley preparation and loading Below: Departure of charged trolleys for delivery Newrest Servair’s production unit – Santiago de Chile, Chile

230

15,570

44

Clients

Flights delivered per week

Airport Lounges

marketing, our teams regularly renew the ranges of products for sale, organize promotions for passengers and incentives for the crew, and develop attractive communication tools (on-board brochures, videos, and announcements). Regarding logistics, they manage the entire process, which they adapt to the specific requirements of each company.

I N T E G R AT E D M A N A G E M E N T SERVICES Airshop Solutions, a Newrest subsidiary, coordinates all catering, logistics and supply-chain services for on-board products, manages clients’ worldwide catering network and negotiates with all catering

and service companies on behalf of our clients. They work in operations, logistics & equipment, hygiene & quality, finance & reporting, and purchase & marketing. Airlines who hire Airshop Solutions are freed from all responsibilities that are not directly related to air transport.

V I P C AT E R I N G Newrest Inflight has developed specific expertise in business-class and VIP flights. Our teams can meet the requests of important clients on a case by case basis. They listen to clients in order to develop ideal menus, select exceptional wines, and implement all services that help make the flight an unforgettable experience. They also rely on a network of wellknown suppliers who contribute to the service’s excellence and refinement.

AIRPORT LOUNGES Newrest Inflight manages welcome lounges for airlines and airports. As part of this service, we manage all aspects of the lounge: layout and design of the room, supplying equipment, welcoming travelers, and purchasing food and beverages.

Activit y Repor t 2014 ∙ 1 5 ▶ 02 Group Ac tivities

027

AI R P ORT LOUNGES & V I P C AT E R I N G D ED I C ATED UNITS NETWORK 1 C HI L E ‒

4

13

12

Santiago (SCL)

2 C R OAT I A ‒

2

3 CY P R US ‒

6

9

Dubrovnik (DBV)

Larnaca (LCA)

4 F RA N C E ‒ Le Bourget (LBG) / Charles de Gaulle (CDG)

3 11

7

Nice (NCE) /

5 F R EN C H W EST I N D I ES ‒ Pointe-à-Pitre (PTP) / Fort-de-France (FDF) 6 G R EEC E ‒ Athens (ATH) / Thessaloniki (SKG)

5

7 MO R O CCO ‒ Casablanca (CMN) / Marrakesh (RAK) / Tangier (TNG) 8 N I G ER I A ‒

8

9 P O RT U GA L ‒

14

Lagos (LOS) /

Abuja (ABV)

Faro (FAO)

10 S O U T H A F R I C A ‒ Cape Town (CPT) / Johannesburg (JNB) 1 1 S AU D I A RA B I A ‒ Dammam (DMM) / Jeddah (JED) / Medina (MED) / Riyadh (RUH)

1

Airport lounges VIP catering dedicated units

10

1 2 S PA I N ‒ Ibiza (IBZ) / Madrid (MAD) / Malaga (AGP) / Palma de Mallorca (PMI) 13 S W I TZ ER L A N D ‒ 14 ZA MB I A ‒

Geneva (GVA)

Lusaka (LUN)

Left: Swiss Air airport lounge at Geneva airport (GVA) – Switzerland ◀

SOME REFERENCES

028

RAIL Newrest Wagons-Lits’ on board sales representatives – Vienna’s central station, Austria ▶

236.9 M€

56,000

17

Turnover 2014∙15

Meals served per day

Logistic centers

TUR N OVER BY COUNTRY (Total consolidated 2014/ 1 5 rail turnover)

7.6% AUST R I A 0.8% PORT UG A L

91.4% F RAN CE

0.2% CA NA DA

Newrest Wagons-Lits’ 2,900 employees offer services to 9 railway companies in 4 different countries.

Activit y Repor t 2014 ∙ 1 5 ▶ 02 Group Ac tivities

029

Creator of services for railway operators, Newrest Wagons-Lits offers a wide range of catering and hotel services. It also provides numerous services to ensure that travel is easy and enjoyable for passengers.

O N - B O A R D C AT E R I N G Newrest Wagons-Lits offers a full range of on-board services: bar, dining car, and catering. Passengers can relax and have a bite to eat at bars and dining cars. In first class, meal trays are served at the

seat. In standard class, the trolley serves drinks and snacks. We provide services that meet passenger expectations during their entire trip.

HOTEL SERVICES We have a versatile crew, attentive to the comfort and safety of our passengers. They ensure the maintenance and cleanliness of trains and provide peace of mind for passengers. We are the only operator offering a global service concept combining railway safety and on-board services.

S E R V I C E S F O R PA S S E N G E R S The full range of services offered by Newrest Wagons-Lits corresponds to each part of the journey:

RAIL

030

Opposite: Newrest Wagons-Lits' sales representative serving a client in TGV’s first class – France Below: Bar service on Alfa Pendular trains – Newrest Wagons-Lits for Comboios de Portugal ▶

280,000 Trains delivered per year

32,700 Night train voyagers per day

welcome, assistance, information, ticket sales and checks, access control, baggage assistance, and hotel and taxi reservations. We also escort passengers with specific needs: children, seniors, and persons with reduced mobility.

L O G I ST I C S A CT I V I T I E S & CO M P L E M E N TA R Y S E R V I C E S Responsible for supplying the trains, we prepare, manage, and stock all products necessary for on-board services to run smoothly and for passengers to be comfortable. Thus, Newrest Wagons-Lits offers rail operators a complete and coherent service chain: stock purchase and management; synchronized loading and unloading of products, containers and materials; and diagnostic and control services before departure.

CO N S U LT I N G & T E C H N I C A L A S S I STA N C E F O R R A I L O P E R AT O R S Newrest Wagons-Lits also offers support services for railway operators, consulting and technical assistance: defining innovative sales and on-board

2,900 Employees around the world

service concepts, design, a selection of product ranges that correspond to passengers’ expectations, and optimal organization of on-board services and logistical operations.

ACTI VITY DISTRIB UTION (Total number of served meals in 2014/ 1 5)

29.9% AT-SE AT-SE RV I CE

66.9%

B AR SERVICE

3.2% NI G H T T RA I NS

Newrest Wagons-Lits applies its know-how on board of more than 5,400 trains per week and helps its clients with logistic activities on 8,500 trains a year.

OUR REFERENCES

▲

▲

Trolley loading for “Gare de Lyon” and “Gare Montparnasse” train stations – Paris, France

On board complementary service on Alfa Pendular trains – Newrest Wagons-Lits for Comboios de Portugal

Activit y Repor t 2014 ∙ 1 5 ▶ 02 Group Ac tivities

031

032

R E M OT E S I T E Lunch service at Mejillones’ petrol extraction camp – Chile ▶

147.4 M€

39,000

Managed turnover 2014∙15 excluding SACC

POB served per day

185

Operation sites

TURNOVER DIVISIONS (Total 2014/ 1 5 Remote site turnover ∙ excluding Saudia Catering)

38.0%

S OUTHERN AF RICA

35.5% AMERICA

16.1% NORT H A FR I CA 10.4% M I DDLE -E A ST,

A SI A & OCE A NI A

Newrest Remote site operates on 185 sites located in 24 countries, primarily in challenging and isolated work environments: offshore platforms, camps in the desert, jungle operations, high altitude mining sites…

Activit y Repor t 2014 ∙ 1 5 ▶ 02 Group Ac tivities

033

Over the past few years, Newrest Remote site has demonstrated its ability to respond to the incredibly varied needs of their clients in the oil and mining industries. Thus, we became one of the references in the field of Remote site management.

We work primarily in challenging and isolated work environments.

Remote site provides turnkey remote camps in deserts, jungles, or high altitude areas. We assemble and develop the design for prefabricated camps as well as install and manage telecommunications equipment and all camp utilities (water, electricity, waste water, garbage, etc.). We support the economy by hiring local entrepreneurs to provide some if not all works or services during the construction phase.

REMOTE SITE MANAGEMENT: H O T E L S E R V I C E S , C AT E R I N G AND LEISURE

R E M OT E S I T E CO N ST R U CT I O N

We manage all aspects of the remote site once construction is complete and it becomes operational.

Newrest Remote site also manages remote sites that were built by our clients. This is the case with offshore oil rigs.

Working in areas that are isolated or difficult to access is a major logistical challenge. Newrest

This management includes catering from central and satellite canteens. The experience acquired in

R E M OT E S I T E

034

▜ Opposite: Camp employees taking a break Below: Logistic activities QDVC Um Al Hawaya labour community ‒ Qatar

6,100 Employees

this field by the Newrest Group allows us to develop meals that respect nutrition standards as well as our clients’ eating habits. We also maintain accommodations for the entire workforce and provide laundry services. Team managers have hotel training, they ensure that cleaning and laundry procedures meet the strictest standards in the sector. Our services includes utility management and site safety, as well as creating and running leisure spaces: sports rooms and fields, movie theaters, libraries, bars, etc. Specific staff members are dedicated to each activity sector.

A S S O C I AT E D S E R V I C E S In the countries where remote sites are located, we also manage guest houses, villas, offices, and other infrastructure belonging to our clients in large cities.

In the areas surrounding our operations, Newrest Remote site asks its teams to devote some time to training the local population in fields related to its activities: cooking classes, hygiene training, school meals, etc.

155 Clients

24 Countries

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035

TY P O LOGY OF CL IENTS (Total 2014/ 1 5 Remote site turnover ∙ excluding Saudia Catering)

35.0% M I NI NG COM PA NI E S 48.0%

O I L & G A S CO MPAN IES

17.0% OT H E R CLI E NTS

Newrest Remote site counts on the expertise of its 6,100 specialised employees, which are specially trained to operate in extreme environments

SOME REFERENCES

◀ Opposite: Kitchen Left: Laundry Services QDVC Um Al Hawaya labour community ‒ Qatar

036

C AT E R I N G Self service in corporate canteen – Chile ▶

127.5 M€

186,000

Managed turnover 2014∙15 excluding SACC

Meals served per day

455

Clients & Institutions

MEALS SERVED BY DIVISIONS (Total number of served catering meals ∙ excluding Saudia Catering)

24.0% A M E R I CA 56.9% NO RTH AF RICA

8.9% E UR OPE 8.9% M I DDLE -E A ST,

A SI A & OCE A NI A

1.3% SOUT H E R N A FR I CA Offering its know-how in 26 countries all around the world, Newrest Catering is the reference of industrial catering in North Africa: more than a half of total served meals are produced in the North Africa division.

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037

Every day around the world, our clients benefit from Newrest Catering’s expertise and trust them to manage their restaurants or canteens.

H E A LT H Newrest Catering manages meals for patients and staff in hospital centers and clinics, as well as snacks, bars, and cafeterias for visitors (hospitality services). We believe that good meals improve health and help sick patients recover. That is why our teams are attentive to the needs of each patient and scrupulously comply with dietary requirements.

CO M PA N I E S & A D M I N I S T R AT I O N S

E D U C AT I O N

A number of public and private companies, administrations and embassies have trusted Newrest Catering to manage their restaurant, cafeteria, or reception lounge. We are convinced that employees who consume their daily meal in a pleasant environment, while being able to choose from a selection of fresh, appetizing, and carefully presented products will be more efficient. Intellectual capacity and productivity are conditionedby the quality of the meal break.

Newrest Catering manages a number of refectories, canteens, restaurants, and hospitality services for teaching establishments including public and private elementary schools, secondary schools and universities. We know that children, adolescents and university students with a healthy, balanced, varied diet have a greater chance of intellectual success.

We are fully aware of our responsibility to introduce children and youth to a variety of flavors.

038

C AT E R I N G

▶ Opposite: Newrest employee in a university restaurant – Chile Below: Meal preparation in a hospital – Oman

6,700

97,500

26

Employees

Meals served in North Africa

Countries

FA C I L I T Y M A N A G E M E N T In companies and hospitals, we offer our clients a mobile food and beverage service. We can also provide this type of service with a store in the establishment. In every country, our production units are ready to provide catered food tailored to your needs: meal trays, sandwiches, and any other meal requested.

A S I N G L E S TA N D A R D In all the establishments we manage, we are guided by an identical passion for excellence in all fields related to our management. Newrest Catering believes in the vital importance of nutrition and healthy eating. To this end, we hire qualified staff to collaborate with our clients and develop diverse menus. With regard to food safety, continuous verification of the food manufacturing process is guaranteed by our scrupulous compliance with specifications. When we design our restaurants and canteens, our first priority is to make them as pleasant as possible. We believe that this aspect of our management expresses our ongoing passion for excellence with regard to the standard of living.

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039

TY P O LOGY OF CL IENTS (Total number of catering customers ∙ excluding Saudia Catering)

26.5% SCH OOLS

& UNI V E RSI T I E S

65.1% CO MPAN IES

4.8% H OSPI TA LS & CLI NI CS 3.6% A DM I NI STRAT I ONS

Newrest Catering’s 6,700 employees, specially dedicated to industrial catering, elaborate and serve more than 186'000 meals every day.

SOME REFERENCES

Student going through the checkout in a high school canteen ‒ Chile ◀

040

R E TA I L Retail point of sale illy Espressamente – Casablanca airport (CMN), Morocco ▶

31.4 M€

36,000

Managed turnover 2014∙15 excluding SACC

Clients served per day

94

Points of sale

MEALS SERVED BY DIVISIONS (Total number of served clients ∙ excluding Saudia Catering)

8.2% A M E R I CA 81.1% NORTH AF RICA

6.0% E UR OPE 3.6% SOUTH E R N A FR I CA 1.1 % M I DDLE -E A ST,

A SI A & OCE A NI A

Newrest Retail has own-brands and international and local franchises.

Our retail restaurants, bars and shops are located in 14 countries all around the globe.

Almost ¾ of retail clients are served in the North Africa Division.

Activit y Repor t 2014 ∙ 1 5 ▶ 02 Group Ac tivities

041

In airports, at highway service stations, on board ships and at bus terminals, Newrest Retail creates and manages retail outlets dedicated to food services, as well as shops.

To manage these outlets, Newrest Retail structured three chains to best satisfy market demand: brands specific to Newrest Retail, international franchises and local franchises.

P R O P R I E TA R Y B R A N D S To meet consumer expectations, Newrest Retail has designed a portfolio of internal brands such as Daily

Break, Caffé Lindo, Sky Shop, The Lunch and Malinche. The marketing policy for these brands targets harmonisation of points of sale. In each country, Newrest Retail adapts part of the offering to precisely match specific regional consumer practices.

I N T E R N AT I O N A L & L O C A L FRANCHISES For its franchise brand development, Newrest Retail has relied on the services of international groups such as Paul, Illy Café, Pomme de Pain, etc.

In certain countries, local, customised franchise concepts allow Newrest Retail to support site managers by providing region-specific offerings. The inclusion of local franchise brands is one of the tools used, for example Medina and Monsieur Brochette in Morocco.

042

R E TA I L

▶ Opposite: Retail point of sale Paul – Casablanca airport (CMN), Morocco Below: Retail point of sale Caffé Lindo – Dubrovnik airport (DBV), Croatia

30

19,500

14

Brands

Coffees served per day

Countries

A -Z M A N A G E M E N T

C R E AT I V E E X P E R T I S E

Before opening a franchise, Newrest Retail manages the entire creation process. We rigorously analyse the constraints and advantages of the future outlet in accordance with its location, visitor traffic, and the number and profile of potential customers. We define the interior design, the furniture, decor, uniforms and communication visuals, and monitor the construction of the premises. We select the range of products that will best suit our clientele of international or national travellers, while taking into account local traditions in terms of taste preferences and the mandatory requirements of franchise brands.

The expertise acquired by Newrest Retail allows it to continue to create other customised retail concepts for new markets and to negotiate partnership contracts with prestigious local partners and international brands based on the development of franchises.

Once the outlets have opened, we take over full management of the premises, which includes purchasing and selling the products at the best quality/price ratio. This service also includes occasional events and promotions to boost traffic, avoid monotony, favour impulse buying and thereby offer a dynamic image of our points of sale. This management also obviously includes maintenance and cleaning. The site director, technical management team and all of the employees are Newrest personnel. To ensure the quality of our service is always optimal, we provide continuous training to our teams.

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043

TY P OLOGY OF LOCATIONS (Total number of points of sale ∙ excluding Saudia Catering)

11.7% M OTOR WAYS

86.2% AIRPO RTS

2.1% OT H E R LOCAT I ONS

Newrest Retail counts 94 points of sale specially developed for the different needs of our clients: 81 points of sale are located in airports and 13 along motorways and other locations

SOME REFERENCES

◀ Opposite: Retail point of sale Calao – Libreville airport (LBV), Gabon Left: Food offer illy Espressamente – Morocco

03

Self service in Remote site – Mejillones, Chile

â—€

O P E R AT I N G P E R F O R M A N C E 2 0 1 4 / 1 5

K E Y E V E N TS 2014 ∙ 1 5

CANADA

03 / 2015

A new inflight unit in Toronto (YYZ) A 4,600 m² kitchen and maximum production capacity of 25,000 meals per day are now available to serve new clients such as Aeromexico, Air France, Jazz and KLM.

GHANA

04/ 2015

A new inflight unit in Accra (ACC)

CO STA R I C A

An almost 2,500 m² kitchen is now available to serve clients such as Emirates, British Airways and Lufthansa.

04 /2015 Operations launched in Costa Rica The Newrest Group, having acquired the Costa Rican company Casa Phillips, launches operations in the inflight catering and airport retail sectors.

CO N G O - B R A Z A V I L L E

08 / 2015 Launch of operations for Saipem on the TAD-1 offshore rig Newrest in Congo launches operations for Saipem on the TAD-1 oil platform. The Congolese subsidiary works for the offshore rig, managed on behalf of Eni, the oil company, serving close to 100 individuals.

NEW CALEDONIA

UNITED KINGDOM

07/ 2015 Four new inflight units In the United Kingdom, Newrest Servair inaugurates four new logistics centres.

The Group now also serves our inflight clients out of Edinburgh, Birmingham, Bristol and Exeter.

P O RT U G A L

10/ 2015 An increase in services for Comboios de Portugal

09/ 2015

Having been awarded the contract for catering on board Comboios de Portugal's Alfa Pendular trains, Newrest launches operations for the Portuguese railway company. The Group is now responsible for catering on board the 20 daily Alfa Pendular trains, in addition to the night and inter-city trains it already serves.

Operations launched in New Caledonia Having been awarded the Vale contract, Newrest expands its presence in Oceania by launching Remote site activities in New Caledonia. The Group manages accommodation and catering for the nickelcobalt production complex at the Deep South plant.

SAUDI ARABIA

07/ 2015 Opening of 4 new lounges and a duty-free outlet Newrest in Saudi Arabia inaugurates this year 4 new lounges in Riyadh (RUH), Medina (MED) and Dammam (DMM) for Saudi Arabian Airlines, and a duty-free outlet in Jeddah (JED).

M O R O CCO

04/ 2015

05/ 2015

Launch of catering in penitentiaries

Four points of sales and a new inflight catering unit open in Casablanca

Seventy dedicated Newrest employees in Morocco launch operations for the DGPAR (general delegation for penitentiary and re-insertion services) regarding the management of 21 institutions spread out over the kingdom.

Newrest in Morocco inaugurates four points of sale at the Mohammed V Airport in Casablanca.

The Group has opened the international Paul and Illy franchises, as well as the local Mr Brochette and Medina concepts.

EUROPE

Austria Belgium Croatia Cyprus France

French West Indies Greece The Netherlands Portugal Reunion Island Spain Switzerland United Kingdom

342,400

596.2 M€

61.3 %

Meals served per day

Managed turnover 2014∙15

of Group’s managed turnover

TUR NOVER DISTRIB UTION (Total managed turnover 2014∙15 excluding Saudia Catering)

58.0% IN F LIGHT 39.7% RAIL

1.7%

CAT E R I NG

0.6%

R E TA I L

In Europe, despite a complex economic and political environment in some of the division's countries, Newrest saw its turnover grow by 5% over 2014/15, 3% of which in the inflight sector.

France, both for inflight and rail, worked on the quality of its services and the development of its expertise. This allowed the French subsidiaries to see the renewal of their clients' contracts, and to also be awarded major tenders, in particular for the management of lounges such as Emirates' at Roissy Charles de Gaulle. Newrest Wagons-Lits France was also certified ISO 9001.

Spain saw its turnover decrease this year. The strong growth in business for airlines such as Air Europa, Qatar Airways and Emirates did not offset the back-catering policies adopted by client airlines, in particular in the Palma de Mallorca and Canary Island airports. The Newrest Group must find more ways to diversify its business, in particular for maritime companies and private aviation.

In Greece, the political situation was particularly complicated this year, to which was added the rouble's depreciation which affected our Russian clients. Yet, thanks to tourism in the region and the growth of our client Aegean Airlines, our subsidiary managed to see an increase of 10% in its business.

Introduction

049

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

EUROPE DIVISION

North American airlines, as well as the additional flights of Qatar Airways, Emirates and Korean Air, contributed to this achievement.

Our subsidiary in Cyprus was heavily affected as well by the difficulties facing our Russian clients, leading to a decline in its turnover of close to 20%. We must now adjust our business model to develop business in other sectors.

The United Kingdom saw significant growth with the arrival of new clients such as Flybe and BMI Regional, which has allowed the Group to open four new units in this region. Our objective is to turn the United Kingdom into a region of excellence by achieving ISO certification in the upcoming year.

In Benelux, the Netherlands and Belgium started to share services, thereby creating the synergy that was required. In the Netherlands, the unit in Amsterdam was redesigned to better serve Middle Eastern airlines such as Qatar Airways, in particular, in June.

In Belgium, the year was marked by the inauguration of our new production unit, which will serve our new client Jetairfly as of November 2015.

In Switzerland, despite actions targeting purchases and synergies between the two businesses, Inflight and Catering, we were not able to archieve budget.

In the corporate catering sector, new contracts were signed, which led to growth in sales. In terms of Inflight, the drop in business of our two main clients was offset by a rise in business aviation and growth in Lounge activities, in particular thanks to the contracts signed with Air France, KLM and Dnata.

In Austria, 2014/15 saw the relocation of the Westbahnhof premises to Matzleinsdorferplatz in December. Hygiene and service quality allowed our Austrian subsidiary to reach high-quality performance levels.

Also, it was highly professional in managing the crisis resulting from the transportation of refugees from Vienna to other European capitals.

Over the past year, Croatia saw significant growth in its business due to an increase in passenger travel at the Dubrovnik airport and the investments made in training and marketing for the private aviation sector.

Despite a difficult year, Portugal was awarded the rail contract for Alfa Pendulares in October 2015.

Left: Airplane loading for Aegean Airlines – Athens airport (ATH), Greece ◀

050

A U ST R I A 2

Logistic centres

20

Trains per day

441,000 Passengers served this year

Car loading on train operated by Newrest Wagons-Lits – Vienna’s Central Station, Austria ▼

▼ - 1.0 %

Managed turnover decrease in Austria

2014/15 was a very successful year for Newrest Wagons-Lits in Austria. The financial year began with a big change for our subsidiary: after nearly 140 years of activity in Vienna’s Westbahnhof train station, our business unit was reorganized in December 2014 and our night train’s logistic centre was moved to Matzleinsdorfer Platz.

Operations on ÖBB night trains continue to be the main activity of our Austrian subsidiary. In 2014/15 a steadily increasing passenger flow was recorded (about 15%), with peaks of even 30% in some months.

This is also due to the European refugee crisis, which considerably affected our Austrian business: numerous special trains were programmed by the ÖBB in order to transport refugees from Vienna to different destinations in Germany and Italy. Despite the

considerable increase in work and stress for our staff, some of our employees pitched in voluntarily, assisting refugees in Vienna’s train stations or coordinating trains between Hungary and Austria. Not only did the refugee crisis affect our business, but it also affected our staff on a more personal level, since they were face to face with people whose lives had been turned upside down. Even in this difficult situation, our Austrian team maintained their professionalism and humanity.

A new business started for Newrest Wagons-Lits in Austria, as the German railway operator Deutsche Bahn, gradually stopped car transport service between Austria and Germany. As a replacement, ÖBB introduced a new train, connecting Vienna to Düsseldorf in Germany, also offering a wagon for passengers to load their cars for travel. After several months of preparation and training, our Austrian subsidiary took over logistic activities of these trains, including loadings of cars and motorbikes.

In early July, Newrest Wagons-Lits started a new contract for ÖBB-Postbus, offering cleaning services on board travel buses for the Austrian Railway Operator’s subsidiary. Some 1,350 buses have been successfully cleaned this summer in different locations all over Austria.

Austria / Belgium

As in previous years, ÖBB and Deutsche Bahn audited Newrest Wagons-Lits in Austria focusing on specific quality specifications in relation to train security and service quality. This summer, ÖBB implemented a new quality control system, checking each train before departure and during travel, in order to comply perfectly with local standards for Austrian regulation controls. The different checks carried out by our client, showed the high quality performance displayed by our staff on night trains with a failure rate of only 7‰ (best rate registered by ÖBB suppliers).

051

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

EUROPE DIVISION

unit at the Charleroi airport opened for business in September 2014 and the unit in Brussels was inaugurated in April 2015.

The 1,000m2 Charleroi unit, specialized in logistics and Pick & Pack, was designed to support Ryanair in its development at the airport and 4,500 flights per year.

Since January 2015, our Austrian subsidiary has been running a new bedding cleaning service for ÖBB (including bed linen, mattresses, etc.), in order to guarantee an even higher hygiene standard.

Newrest Wagons-Lits in Austria, ever conscious of sustainable development and ecology, also introduced biodegradable supplies (like bioplastic coffee cups, cutlery, and glasses) on all night trains.

BELGIUM 2

Production units

300

Meals served per day

High loaders being charged in Newrest Servair’s unit – Charleroi, Belgium

6

Clients

◀

Having obtained its second airport license for the Brussels airport, Newrest Servair invested €5 million in the construction of the 3,500m2 unit located in Machelen. This new unit has a production capacity of 10,000 meals per day and it has a “double flow” production zone: halal and non-halal.

▲ + 70.1 %

Managed turnover increase in Belgium

The year 2014/15 was decisive for Newrest Servair in Belgium, as our production capacity grew significantly thanks to two new production units: the logistics

Adding to the existing inflight sales business with Thomas Cook, new clients in the inflight catering and buy-on-board sector have joined Newrest Servair's client portfolio in Belgium: Ryanair, Tailwind Airlines, Corendon Airlines and BMI Regional, to name a few.

The additional turnover from these new contracts compensates the loss of the Luxair business in Luxembourg, as the contract was terminated during the year.

Furthermore, the joint venture was selected for the TUI Group's Buy on Board services. In the five Belgian airports (Brussels, Antwerp, Ostend, Liège and Charleroi), Newrest Servair will serve 10,000 annual flights for Jet Air Fly as of 1 November 2015.

052

Newrest Servair & Jet Air Fly team – Brussels’ Airport (BRU), Belgium

After an encouraging 2013/14, once again 2014/15 confirmed the solid health of our Croatian subsidiary. During the year, turnover increased significantly in all of Newrest in Croatia's business sectors.

▶

This new contract is a true challenge for the joint venture, both in terms of investments, with the purchase of 11 highloader trucks, and the teams, as 60 new employees will be joining the group in upcoming months. This new contract with the Belgian airline will boost the joint venture's reputation for its expertise and will allow the Newrest Group to even further develop its business in Benelux, more precisely in Belgium.

C R O AT I A 5

Inflight customers

3

Clients

4

Points of sale

Thanks to rising passenger travel (+6%) at the Dubrovnik airport, airport retail sales leaped by 15%. For its part, turnover from inflight rose by 9%, in particular thanks to growth in the private aviation sector, and reaped the benefits of the investments made in prior years in personnel training and marketing. Finally, the personnel consumption rate for catering was clearly on the rise, with a 29% increase in sales. Production and operating costs stayed at similar or lower levels than the previous year, with Newrest's profitability therefore mechanically rising significantly.

The inflight catering contract with Croatia Airlines was also renewed this year, as was the contract to fit out their trolleys. Three new contracts for the VIP market also added to the good news.

Since December 2014, our unit in Dubrovnik has been certified ISO 9001:2008, thereby complying with our strategy to ramp up Newrest Group's actions promoting Quality and Hygiene. In addition to the certification, this approach also allowed for the reengineering of the subsidiary's processes, as well

▲ + 13.8 %

Managed turnover increase in Croatia Retail point of sale Caffé Lindo – Dubrovnik airport (DBV), Croatia ▶

Belgium / Croatia / Cyprus

as the implementation of a continuous improvement policy that benefits all of our clients and employees.

With regard to training, our management visited the Newrest unit at Le Bourget, a kitchen close to Paris and that is essentially dedicated to catering for private aviation, in order to train on VIP recipes and cuisine. These exchanges will continue in the future, as they favour the improvement of services and the diversification of expertise that our Croatian subsidiary offers.

Finally, for the second consecutive year, Newrest in Croatia received the “Gold” award from the Croatian financial agency FINA for the HORECA (hotels, restaurants and catering) category. All of our employees are proud to have won this award, which recognizes the great performance of our subsidiary despite increasingly harsh competition within the most dynamic business sector of the Croatian economy.

Key forecasted European economic indicators are mostly negative and show only little signs of progress. Group’s Cypriot subsidiary mainly operates in the inflight business, serving more than 4,000 meals per day for more than 35 clients on our Larnaca production unit.

In addition to the difficult economic climate, some of the main local clients experienced major financial problems: Cyprus Airways announced the closure of the airline and all its activities in December 2014, and Transaero, the most important client of our Cypriot subsidiary, decided to do return catering for the flight departing to Moscow and St. Petersburg. One piece of bad news followed another, as their winter schedule was also cancelled, leaving our subsidiary with irregular charter activity. Additionally, in May 2015, Etihad Airways also announced its decision to stop the catering service provided by Newrest from our Larnaca unit, in order to begin return catering.

CYPRUS 37

Inflight customers

1

Client

Airplane loading at Larnaca’s airport (LCA) ‒ Cyprus

3,000

◀

Meals served every day

▼ - 23.4 %

Managed turnover decrease in Cyprus

Unfortunately, the year 2014/15 was another difficult year for Newrest in Cyprus, as the country could not shake itself free of the economic crisis brought on by the banking sector fallout in 2013.

053

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EUROPE DIVISION

Consequently, Newrest’s revenue fell by 23% in Cyprus, compared to the year 2013/14, and business was not able to meet target. The Larnaca unit had to redefine itself very quickly: our subsidiary gained momentum and began an in-depth restructuration in order to sustain its position as inflight catering leader in Larnaca.

During this dark period, the Cyprus team was able to rejoice in sme good news: in April, Aegean Airlines announced that Larnaca would become a yearly hub with 4 stationed aircrafts. Their new flight network was focused on Greece and in addition new traditional international routes were established, as operated by Cyprus Airways before. In July, Newrest in

054

Cyprus were honoured to start catering services for our client British Airways, an airline company, which has always had a strong presence in the Cypriot market. Additionally, the Cypriot subsidiary focused on VIP inflight catering, providing high quality services for private flights, and strengthening its relationship with VIP airlines and the local VIP handlers and agents. In the quality sector, Newrest in Cyprus renewed its Halal Certificate for 2014/15.

For next year, the Cypriot subsidiary has many key challenges to address, starting with a significant increase in productivity, strengthening its operations and seeking out alternative activity sectors in the catering business. With highly trained staff focused on strengthening relations with clients and suppliers, Newrest Cyprus welcomes these challenges and commits to excellence.

FRANCE FRANCE ∙ FRENCH WEST INDIES ∙ REUNION ISLAND

50

Clients

11

Logistic centres

2

Clients

1

Point of sale

▲ + 8.0 %

Managed turnover increase in France

In France, 2014/15 saw consolidation in every business sector: inflight catering, rail catering and catering for B&I, in

particular with regard to the operating bases and our teams.

Actions in all of the Group's areas, whether organizational or related to human resources, quality or purchases, were launched to achieve the balance required in terms of skills, competitiveness and greater quality in services provided.

In the rail sector, our teams worked throughout the year on the year's two major areas of focus: quality and dynamic sales activities. ISO 9001 certification was granted and many marketing events boosted sales, led by our sales teams acting as the main facilitators on board trains. Newrest Wagons-Lits in France is particularly proud of the renewed trust of its client Alléo, whose contract has been extended for two additional years.

In the inflight sector, the teams focused their attention on guaranteeing continuous quality of service.

This massive plan, which targets products, regularity in service and onboard sales contacts, was deployed throughout the year on all French stopovers. We achieved our goal, as 100% of our clients renewed their contracts for upcoming years. Finally, the deployment of a very high quality culinary offer, supported by the Newrest Group's expertise in reception and service, allowed us to win major invitations to tender for the management of airport lounges,

F ra n ce ∙ F r e n c h W e s t I n d i e s ∙ R e u n i o n I s l a n d / G r e e ce

Newrest Wagons-Lits sales representatives – Gare Montparnasse train station, Paris, France ▼

GREECE 90

Inflight customers

15

Clients

30,000 Meals served every day

▲ +7.5 %

Managed turnover increase in Greece

in particular Emirates' at Paris-Charles de Gaulle. This new contract is a true opportunity to meet the quality requirements and demands of this prestigious company as it serves its customers. In terms of prospects for the new year, Newrest in France is focusing its efforts on the launch of a new production unit in Nice.

Our Buy-on-Board and Duty Free on Board businesses changed significantly this year. A quality partnership with one of the world's leaders in Duty Free on Board has allowed us to develop exclusive offers for our clients. Throughout the year, Newrest in France worked on the customization of offers for each of our client companies and adopted an approach to gain share in this high-potential market.

In parallel, the Buy-on-Board business grew significantly, with the arrival of new clients on the French market, such as Volotea.

The contract between Seashop, a subsidiary of the Newrest Group that manages Duty-Free on board ships, and its sole client, Corsica Ferries, was renewed. This contractual renewal highlights a solid partnership with the maritime company, which has undertaken to renew its trust in the Newrest Group for the next five years.

Finally, our businesses in the French West Indies and Reunion Island continued to grow thanks to Newrest Group's expertise: Corsair entrusted to Newrest the management of its lounges in Fort-de-France and Pointe-à-Pitre, and Air Austral's Buy-on-Board contract for Reunion Island was renewed for three years.

2014/15 was a complicated year for Greece: the political and financial situation remains extremely difficult, and the Middle-East refugee crisis added enormous pressure, mainly to the Easternmost Greek islands. Lastly, the continued devaluation of the Russian rouble was damaging to the Greek island inflight sector.

In spite of these major crises, tourism in the Athens region prospered, which allowed Newrest in Greece to forge ahead and attain vital targets in the inflight sector. Our production unit in Athens witnessed a strong year in terms of revenue compared to last year’s results. This helped the Greek subsidiary to achieve an overall 9.7% gain in inflight turnover compared to 2013/14.

Key factors to this growth were Aegean Airlines’ fleet increase and its significant boost in international traffic and the destinations served. Ryanair also contributed, adding a fourth aircraft to its Athens fleet and long-haul inflight activity flourishing out of Athens.

055

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

EUROPE DIVISION

© Kopalas Kyriakos – NLS Studio

056

Opposite: Newrest on the way for our client American Airlines Below: Aegean Airlines aircraft loading Athens’ airport (ATH), Greece ▶

North American activity grew as Delta and Air Canada prolonged their respective summer seasons and introduced additional weekly flights. American Airlines and Air Transat also extended their summer seasons, which also resulted in higher revenue for Newrest in Greece. The Asian market grew as Qatar Airways introduced a third daily flight out of Athens.

Emirates, Singapore Airlines added summer flights and Korean Air started its first ever charter program to Athens. Unfortunately, Etihad stopped requesting catering services from Athens in March 2015.

Unlike Athens, the peripheral activity weakened, mainly due to the Russian crisis. Russian airlines continued to reduce their catering services and intensified return catering on all Moscow and St Petersburg flights. Small local Greek airlines such as Astra Airlines and Blue Bird, restructured their flight programs and demonstrated good performance.

In the catering sector, revenue decreased by 5%, as 3 contracts were lost —mainly the staff feeding contract at Athens International Airport— and there were no new contracts signed. The catering activity suffers from the deterioration of the market situation for many companies, the 10% increase in VAT imposed in the summer of 2015 and the drop in consumers’ purchasing power. Regarding the QHSE, our Greek subsidiary renewed Halal certification in 2014/15 and proudly obtained ISO 18001 certification at our Athens’s production unit for the first time.

Thanks to hard work from a close-knit and dedicated team, Newrest in Greece was able to make 2014/15 another strong year. Continuing these values is the key to ultimately reaching our goals for next year: our Greek subsidiary will face number of challenges, which include building on Athens’ achievement, seeking greater efficiency and productivity gains despite the pressure on sales costs from the continuous bank capital controls, increasing revenue by putting emphasis on the VIP inflight and extending our services to existing clients.

G r e e ce / T h e N e t h e r l a n d s

THE NETHERLANDS 1

Production unit

7,500 Meals served per day

16

Clients

▲ + 2.6 %

Managed turnover increase in the Netherlands

The year 2014/15 was a tough year for Newrest in the Netherlands. A difficult situation resulted on 3 different points: first of all, several renewed contracts of Dutch subsidiary resulted in the decrease of margins even if there was higher turnover.

In January, a new law was implemented in order to bring agency staff to the same basic conditions as fixed staff. This regulation resulted in 5% increase of Newrest in Netherlands overall labour costs. Additionally, new regulations of the European Union on provisioning of information on allergens needed amendment of our internal systems. Consequently, the key project for this year in Netherlands was to reduce costs in order to improve productivity.

Mainly Middle-East carriers’ deployed new routes to Amsterdam’s airport. In order to stay competitive in the local market our Dutch subsidiary, operating essentially on the inflight business, required a Halal kitchen. Investments were made in the inflight

057

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

EUROPE DIVISION

production unit: the complete rebuilding of the unit was finished January 2015 and resulted in the arrival of several high quality level customers during the year. Some new inflight clients are now served departing from Amsterdam, like Easyjet (3 based aircraft), Air Canada (6 flights per week and about 78.000 in house made meals per year), Qatar Airways (6 flights per week and about 85.000 in house made meals per year) and Yangtse River Express (about 1.500 in house made meals per year). Existing customers as Ryanair, Air Austral, Arkefly and Transavia renewed confidence to Newrest’s know how. These references will open doors for further development of the Dutch’s inflight portfolio.

In order to minimise costs and to improve the productivity, Newrest in the Netherland implemented a new procedure concerning stock movement and control. Consolidation process takes place directly on the floor and production staff is fully responsible for the stock movement and control. Through two eyes principle the returned trolleys are being counted and refilled in the system at the same time. This new procedure eliminates two side steps in the total process and allows a better control of stock. Additionally, synergies between activities in the Netherlands and in Belgium took place on the Finance, IT, Commercial and Purchasing sectors.

This will be further developed in 2015/16.

On the quality and hygiene sector, the Dutch subsidiary obtained ISO 9001 and Halal certifications.

Several clients’ audits took place with encouraging scores. For next year Newrest in the Netherlands has several ambitious projects as the construction of a new central unit for the Buy-on-Board and the Duty-Free operations, a common purchase project in synergy with Newrest in Belgium, and the introduction of new business sectors as for example a Buy-on-Board activity on international travel busses.

Airplane loading – Amsterdam’s airport (AMS), The Netherlands ◀

058

P O RT U G A L 92

Clients

1

Client

196

Catered trains per week

▼ - 4.5 %

Managed turnover decrease in Portugal

In the inflight sector, turnover rose by 3%. No new contracts were signed, but various contracts were renewed, including the Lounge contract for the airport in Faro. Services for Iberia stopped in early October 2015 as the Spanish company now back-caters for its flights out of Madrid. Despite the rise in turnover, financial results for the year were negative in light of the many investments, reorganisations and restructurings undertaken within the subsidiary. The objective of these structural changes is to optimise our performance and increase productivity. Finally, the inflight sector received good news: an airport license for the Porto airport related to the construction of a new production unit.

In the catering sector, business was stable, and the catering contract for the Faro airport was extended.

Newrest in Portugal serves approximately 200 meals per day at the airport.

In the rail sector, Newrest in Portugal currently manages two contracts for the local Comboios de Portugal rail company covering international and intercity trains. In 2014/15, performance for these two contracts was stable, with a slight increase in turnover as compared to the prior year (6%). Relations with the client improved considerably. As a result, at the end of the year, the Portuguese subsidiary was awarded a third contract for Comboios de Portugal for the Alfa Pendular high-speed trains. Operations started on 1 November 2015. This new contract will have a positive impact on our rail business and our production unit in Lisbon next year.

Newrest Wagons-Lits employee welcoming Alfa Pendulars voyagers – Lisboan train station, Portugal

In 2015/16, Newrest in Portugal intends to focus on its group catering business, B&I and event catering.

The Faro team is also examining potential airport retail opportunities with the creation of a café or restaurant in the airport.

▶

For Newrest in Portugal, 2014/15 was a successful year of restructuration. The subsidiary is dedicated in particular to inflight and rail services which respectively represent 75% and 22% of its turnover.

Po r t u g a l / S p a i n

059

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

EUROPE DIVISION

Emirates’ A380 loading – Madrid (MAD), Spain ▼

S PA I N 212

Inflight customers

144

Catering customers

122,000 Meals served every day

▼ - 2.5 %

Managed turnover decrease in Spain

For Newrest in Spain, the past year was difficult and turnover dropped by 2,5%.

The subsidiary was highly affected by political events in Eastern Europe: the crisis in Ukraine and the depreciation of the Russian rouble directly affected operations for Eastern European airlines, causing a 50% decline in flights to Barcelona, the most impacted unit in the Iberian peninsula.

In the Inflight sector, this drop in business was all the more harsh as a number of our medium-haul clients decided on back-catering for all of their flights to Spain. Our services for Air Berlin, Finnair, Air Algérie, Iberia Express and Novair were directly affected, especially at our units in the Canary Islands, but also throughout our production units. In addition, Newrest in Spain saw its Inflight market positioning shift due to competition from a number of new local operators. With the pressure rising, the Spanish subsidiary was forced to close down a number of operations, such as its services for Transaero, Pakistan Airways, Gambia Bird, Iberia, Hamburg Airways, Uzbekistan and Santa Barbara.

Even in this tense environment, the subsidiary achieved many successes: Newrest in Spain acquired numerous new clients as well as contract renewals. Since this year, the Barcelona unit has been working for TAM Airlines, Korean Air and Royal Flight and this business should increase even further this coming year. The volume of flights per week of a few client companies such as Qatar Airways, Emirates, Air Europa and Norwegian increased, much to the Spanish subsidiary's benefit. However, this new business was not able to offset the loss in turnover in the inflight sector in general on the Iberian peninsula. The production unit in Madrid was awarded the “Best Caterer Europe” prize from our Qatar Airways client. Another major event: the first supply service for Emirates' A380 at the Madrid airport in August.

In the catering sector, Newrest in Spain was highly successful in 2014/15: business in the Canary Islands increased by 10% and in the Balearic Islands by more than 50%, with two new contracts having been signed. Newrest serves the canteens

060 Swiss Air Lounge catered by Newrest Canonica – Geneva Airport (GVA), Suisse ▼

in public high schools for the government of the Balearic Islands and the Universitari Son Espases hospital.

In 2014/15, the Spanish subsidiary continued its efforts to diversify its business. In the retail sector for maritime companies, after having signed a contact with Fred Olsen, the Group also extended its collaboration with Balearia in the Balearic islands.

This orientation, which complies with the Group's diversification policy, must be extended even further next year, in particular targeting maritime companies but also private aviation.

S W I TZ E R L A N D 3

Airports lounges

12

Clients

8,600 Meals served every day

▲ + 12.6 %

Managed turnover increase in Switzerland

This year, business at Newrest Canonica, our Swiss joint venture, rose compared to the prior year: turnover in the inflight sector remained stable and turnover in catering increased slightly.

In terms of the inflight business, Newrest Canonica saw a clear drop in revenue per passenger due to its main clients' (United Airlines, Etihad Airways, Etihad Regional and Saudia Airlines) new product orientations. Unlike catering for airlines, our unit in Geneva

saw its sales increase by 2.5% for business aviation catering. Despite a 10% decrease in business aviation traffic at the Geneva airport in 2015, many contracts were signed with private airlines, such as Presidential Flight, Qatar Executive and Jetex. In parallel, the Lounge business grew both with the One World Lounge, thanks to the arrival of Iberia in addition to British Airways, but also thanks to a new contract signed in August for the Air France/KLM and Dnata lounges.

In terms of catering, Newrest Canonica signed new contracts, for example with ISO (provision of facility management and banqueting services) and SITA in June 2015. Finally, further to an invitation to tender, the joint venture was also awarded the management of the new cafeteria at the CERN (building 774), located in Prévessins, France, and the Natural History Museum restaurant in Geneva, which will open its doors in December 2015.

The teams in our unit were reorganized in early 2015, which stabilized the quality of services and led to the deployment of additional means to conquer new markets, such as Lounges and Catering. In 2014/15, the unit completed its renewal of its highloader truck fleet. Next year, the entire utility vehicle fleet will also be renewed.

Regarding Quality, Newrest Canonica in Switzerland successfully achieved ISO 9001, 22000 and 14001 certification. The joint venture is also committed to having its catering units certified through local quality accreditations, such as Fourchette Verte and GRTA. Furthermore, a project targeting a production kitchen dedicated to the delivery of food services, intended for the market outside of the airport, was

approved and will meet the rising requirements of our clients. This project will also allow us to see a greater impact on the new pre-order module on the joint venture's website, which was launched in the early part of the year: the new ecommerce section of www.newrest-canonica.eu allows clients to place orders on line for meal trays delivered directly to the workplace. This offer directly targets businesses who do not have cafeterias and who want to offer quality meals to their employees.

UNITED KINGDOM 6

Production units & logistic centres

1,285

Flights catered per week

5

Clients

▲ + 72.1 %

Managed turnover increase in the United Kingdom

The financial year 2014/15 was very successful for Newrest Servair in the United Kingdom: the joint venture, exclusively dedicated to inflight business, embarked on a growth strategy that increase turnover by 72% in one year.

A total of 4 new operation units were opened in Birmingham, Bristol, Exeter and Edinburgh, an encouraging fact for potential clients.

It wasn’t long before the joint venture felt the positive

effects of these openings: several new inflight contracts were signed during the financial year. Since July, Newrest Servair in the United Kingdom provides Buy-on-Board services for the British airline company Flybe at 14 airports all around the UK. This contract by itself now almost half of the joint venture’s turnover with more than 400 catered flights per week. In addition, another important success has been the signature of a new inflight contract with BMI Regional: since June, Newrest Servair has provided bar service, single-class sandwiches and extensive VIP services, serving about 400 meals per day. These new contracts considerably increased activities for our joint venture and represented a great challenge for the whole team.

In terms of existing contracts, Newrest Servair has been serving British Airways City Flyer since 2009.

Working closely with the airline and suppliers has revealed that the service quality level could be greatly improved for British Airways, especially by continuously seeking new solutions and new products to make the passenger experience even more enjoyable. After regularly analyzing passenger feedback and market competition, the joint venture decided to shift budget money and to focus on specific routes and times of day. This improved the passenger experience without increasing overall expenditure for the airline. Furthermore, the introduction of a concierge service allowing airline’s crew to optimize additional stock at any of the 14 British airports has generated a true win / win position for client’s airlines and Newrest Servair.

Forecasts for next financial year remain very optimistic: the joint venture plans to further expand its network in the UK. Internal team development is a core concern of Newrest Servair and the joint venture will implement an internal development plan, without which growth and sustainable delivery of service to our existing customers would be impossible.

061

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

Spain / Switzerland / United Kingdom

EUROPE DIVISION

N O RT H A F R I C A

Algeria

Egypt Ghana Guinea-Conakry Liberia Libya Morocco Niger

Nigeria Tunisia

148,500

117.2 M €

12.1 %

Meals served per day

Managed turnover 2014∙15

of Group’s managed turnover

TUR NOVER DISTRIB UTION (Total managed turnover 2014∙15 excluding Saudia Catering)

20.2%

R E M OT E SI T E

42.7% CATERIN G

19.0%

R E TA I L

18.1%

I NFLI G H T

The North African Division saw growth in its turnover of 7,9% in 2014/15, for a financial result that rose by 20% compared to last year.

This positive overall performance was not uniform across all of the region's countries but is due for the most part to the very good sales, operational and economic performance of one country: Morocco.

The North African Division is growing and now includes eight countries: Morocco, Algeria, Tunisia, Guinea-Conakry, Liberia, Niger, Ghana and Nigeria.

The sales of our subsidiary in the Cherifian realm represent 65% of the turnover for the zone and 91% of its financial result. In terms of catering, Newrest in Morocco once again confirmed its leadership position by signing many major contracts and by entering the penitentiary market segment. The retail concession business is also doing very well, as the Moroccan teams opened four points of sale in Casablanca's airport this year. Finally, the Moroccan subsidiary inaugurated a new inflight production unit in Casablanca - a modern structure with last-generation equipment that complies with international standards applicable in the sector.

In Algeria, the Group's turnover doubled thanks to a number of new Remote site contracts (KCA Deutag, Petrofac and Lead) and Catering contracts (Lycée International Alexandre Dumas and the French embassy). Airport retail sales also rose by close to 20% in Algiers thanks to renovations in all of the points of sale and the introduction of new concepts.

However, this significant growth was not reflected in the expected financial performance: the Algerian teams must still stabilise their operations for our clients and sustainably implement the Group's management processes and tools. Various appointments to the senior management of the subsidiary (Arezki Amir: Director General of the Remote site business; Bruno Heriché: Director General of all of the subsidiaries; Samia Louz: Secretary General) will consolidate our Algerian businesses and ensure an improvement in financial performance.

Introduction

In Tunisia, the geopolitical events and their impact on tourism obviously had a very negative effect on Newrest's business. Passenger travel in Tunisian airports dropped considerably during the year (-70% for Djerba and -35% for Tunis Carthage), leading to a mechanical contraction in turnover and the performance of the retail business in the country. Catering and Remote sites also felt the negative impact, with turnover declining by 15% and a financial result that is also behind prior years. These two businesses must improve their results in 2015/16.

Despite Newrest's complete dedication to its historic partnership with Tunisair and its holdings in Tunisie Catering's capital, the Group decided to withdraw from Tunisie Catering's management and capital. As Tunisie Catering has not been paid for services rendered to its principal client Tunisair, it has been placed under receivership since March 2015. Despite this difficult state of affairs, the Group intends to remain present in the country in order to reinforce its relations with OACA and sustainably develop its business.

In Nigeria, the Newrest Group increased its equity in the ASL inflight catering operator in the summer of 2015, adding two more sites to its African inflight network: one in Lagos and one in Abuja. For next year, the Nigerian subsidiary is also considering development in other business sectors such as Remote site management in the southern part of the country where major oil and gas operators are highly present.

Finally, Newrest closed its subsidiary in Mauritania in February 2015 as the commercial environment stagnated and the local economy could no longer offer any opportunities for the Group's development.

For the 2015/16 financial year, the region's objectives are well-defined: to maintain and consolidate the Group's positioning in Morocco, in particular with the launch of high-speed train lines; to effectively implement our management processes in Algeria, and to increase business in Tunisia, Guinea, Liberia, Ghana, Niger and Nigeria.

063

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

NORTH AFRICA DIVISION

064

ALGERIA 6

Clients

19

Sites of operation

8

Points of sale

▲ + 90.4 %

Managed turnover increase in Algeria

Retail points of sale Opposite: Sahara Tea Right: Timgad – Alger airport (ALG), Algeria ▶

In 2014/15, Newrest confirmed its sustainable implantation in Algeria with significant development of all business. In order to control this growth, the management team was reinforced at headquarters and in the field.

Trainers and operational managers contributed their skills to supervise local teams and thus improve quality of services.

Turnover for airport concession activity increased by 20%. All points of sale were renovated to better meet consumer needs by offering welcoming sitting areas and an extended range of products. The Algerian subsidiary managed two events in collaboration with the airport in Algers: Strawberry Weeks in April and “The Airport celebrates number 31” for yearend festivities. On these occasions, points of sale for Newrest in Algeria offered special menus and products.

The corporate catering sector rose to the challenge in terms of development, by securing new contracts and boosting turnover by 50%. The Algerian subsidiary is now collaborating with players in education (Lycée International Alexandre Dumas since January 2015 and Petite Ecole d’Hydra since September 2015), but also in the administrative sector with the takeover of the French Embassy restaurant since July 2015. The portfolio of prospects appears optimistic in terms of business growth in Algeria.

Where Remote sites are concerned, Newrest in Algeria experienced close to 300% growth by attracting top clients and strengthening operations already underway since the previous year. The subsidiary signed contracts with KCA-Deutag, LEAD, Petrofac, Tecnicas Reunidas, Groupement Touatgaz, CCC, Duro Felguera, Sinotharwa and Belectric, thus guaranteeing a presence over the entire south of Algeria.

In addition to management, logistical means were implemented with the creation of a logistics base in Adrar, to complete the operational headquarters at Hassi-Messaoud. The range of services was also increased: catering, accommodation, overall maintenance of camps and treatment of domestic waste. The objective for 2016 is to stabilize current operations in order to continuously improve client satisfaction.

Algeria / Ghana

GHANA 1

Production unit

6,000 Meals served per day

7

Clients

065

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

NORTH AFRICA DIVISION

following its launch of a new Accra - Washington DC route in August 2015, which we are proud to serve.

A new contract has also been signed with Qatar Airways for its Cargo operations in Ghana, which started in December 2014.

In summary, the Ghanaian subsidiary continued to maintain excellent customer relations and trust.

Overall, a total number of more than 2,000,000 meals, 1,700,000 passengers and 5'000 flights were served during 2014/15. New menus were created for our 3 major clients, whose contracts were renewed last year, with positive remarks received throughout the year.

▲ + 15.6 %

Managed turnover increase in Ghana

In 2014/15, Newrest in Ghana experienced a very turbulent year. The subsidiary, essentially dedicated to the inflight business and operating a production unit next to Accra’s international airport, suffered the consequences of the Ebola epidemic, as did several countries in Newrest’s Western African network.

Inflight activities with local airlines were reduced due to the crisis. The Ghanaian subsidiary lost its client Gambia Bird Airlines, which had to suspend commercial operations as from December 2014 and was finally liquidated. Kenya Airways had to reduce the number of weekly flights to Accra, operating only half of scheduled flights and cancelling its routes to Sierra Leone and Liberia until March 2015. This fact contributed to the drop in Ghanaian turnover by 2% compared to the previous fiscal year.

Nevertheless, Newrest in Ghana also had some good news in 2014/15: this fiscal year saw the increase of flight operations for South African Airways by 50%,

Looking ahead to 2015/16, Newrest in Ghana will strongly position itself to retain client trust. In order to expand its business to developing local activity (corporate restaurant management, food service, outdoor catering for Embassies and High Commissions among others) a new food production unit was constructed located less than 300 meters from Accra’s airport: operations will start at the end of 2015. In the inflight business, the Ghanaian subsidiary is optimistic for new contracts with other European airline companies like SN Brussels Airlines and KLM. Moreover, for the coming financial year, Newrest in Ghana plans to modernize and enlarge its high-loader fleet and to increase its raw-material purchase volume from the local market maintaining its primary objective of good quality products.

Catering for our client South African Airlines – Accra Airport (ACC), Ghana ◀

066

G U I N E A - CO N A K R Y 1

Production unit

Right: Catering & management for the French Army – Conakry airport, Guinea-Conakry

1

Site of operation

1,500 Meals served per day

In order to gain additional revenue, the joint venture diversified its business in 2014/15 after signing a contract in the Remote site sector. Between January and August 2015, CGA Newrest was

▲ + 74.6 %

Managed turnover increase in Guinea-Conakry

▶

The year 2014/15 was intense for our joint venture in Guinea, CGA Newrest. The country's economy is unstable and is still suffering from the impact of the Ebola virus on the country.

The epidemic, which reached its climax during the last half of 2014, continued in 2014/15 to the detriment of the local economy.

In the Inflight sector, the joint venture had to face the direct consequences of this epidemic: most airlines landing at Conakry were obliged to considerably reduce or in fact halt their flights to the Guinean capital. The joint venture's inflight business was particularly affected by Asky's cancellation of flights, the end of Brussels Airlines' operations, the sharp drop in traffic on Air France flights and the indefinite postponement of the launch of Emirates' flights to Conakry's airport. This resulted in a drop in the country's inflight turnover of 60%, with the inflight business only representing 30% of the joint venture's turnover (as compared to 100% in the prior financial year).

responsible for the complete management of the French Army's remote site in the Guinean capital close to our production site at Conakry's airport. The site hosts the Army's healthcare services and the treatment centre for Ebola patients. CGA Newrest worked over an eight-month period, serving 77,000 meals to the military and patients. In addition to the catering services, the joint venture provided hotel, laundry, waste management and pest extermination services.

The Ebola virus epidemic is still active today in the country. The partnership with the CGA company remains very bright, however, for the upcoming year: we hope to see a rapid end to the epidemic, which should allow for economic activities to recover and, more particularly, for CGA Newrest to gain new market share in the Inflight and Remote site sectors.

G u i n e a - C o n a k r y / L i b e r i a / M o r o cco

LIBERIA The year 2014/15 was a very difficult one for Newrest's Liberian subsidiary as business came to a complete halt in August 2014.

After setting up its structure in Liberia in 2008, Newrest invested heavily in Monrovia: in 2013, a brand new inflight production unit was built close to the Roberts Field airport. Following the launch of activities at the end of 2013, the Ebola epidemic had a tremendous impact on the company, forcing airlines to considerably reduce or even suspend their flights to the Liberian capital. Newrest in Liberia was therefore obliged to cease operations in 2014 and they have not started up again as of today. Despite the official declaration indicating that the epidemic ended in Liberia in June 2015, hopes of recovery in airline traffic and airport business remain minimal. Today, only one airline, Kenya Airways, serves Monrovia.

M O R O CCO 33

Clients

10

Sites of operation

148 Clients

38

Point of sale

067

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

NORTH AFRICA DIVISION

In 2014/15, Newrest in Morocco experienced strong growth in terms of operational performance, finishing the financial year with managed turnover, 20% higher than the previous year.

This growth is mainly thanks to the addition of major contracts for corporate catering, the opening of concessions at Mohammed V airport in Casablanca, and also a very positive season in airline catering. The results of the Moroccan joint venture are the fruit of teams’ operational effort. They were also optimized by mutualization and grouping of purchases.

During the financial year, structuring projects were initiated and will continue to have a positive impact on Moroccan activity next year. In the airport concession sector, Newrest in Morocco developed points of sale at airports in Casablanca, Fez, and Rabat with franchises such as Paul, Café Illy, Médina and Mr. Brochette among others.

In terms of corporate catering, the core of Newrest’s business in Morocco, new contracts were signed (e.g. CHU, Cheikh Khalifa hospital, University housing complexes, Ciments du Maroc and Attijariwafa).

Moreover, the Moroccan joint venture invested over 14 million Moroccan dirhams into the Casablanca and Marrakech CHUs, equipping them with a modern meal-distribution system thanks to dual-temperature trolleys. Newrest in Morocco participated in the opening of the market in the penitentiary sector by managing 21 establishments scattered across the center and south of the Kingdom.

Retail point of sale Monsieur Brochette – Casablanca airport (CMN), Morocco ◀

▲ + 20.7 %

Managed turnover increase in Morocco

068

Retail point of sale Medina – Casablanca airport (CMN), Morocco

NIGER 1

Client

▶

3

Sites of operation

2

Points of sale

▼ - 44.5 %

Managed turnover decrease in Niger

With loyalty-building work surpassing 97% of its contracts in bids and obtaining several new contracts, the joint venture’s corporate catering business is bringing in excellent results. A partnership was established with the Mohammedia Hotel School, and 12 graduates were recruited in order to train future managers in corporate catering techniques.

Simultaneously, Newrest in Morocco entered to local airline catering market after the buyout of Atasa at the end of 2013, and with the construction of a Casablanca production unit. Inaugurated in spring 2015, this unit now serves 1,000 meals per day to approximately 30 clients, not only in the onboard catering sector, but also for private airlines.

The upcoming year is promising in terms of projects: after building and fitting out the new headquarters, the Moroccan joint venture will open its own academy in 2015/16. It will be located at headquarters and equipped with a training restaurant so that employees can learn all the Group’s areas of trade.

This focus on talent training should allow Newrest to maintain its strategic line in Morocco: sustain its position as leader on the market for corporate catering and airport concessions, while continuing its growth on airline and rail catering markets.

The year 2014/15 was eventful for Newrest in Niger. In a difficult economic environment and in light of lesser development of mining companies operating in the country, Niger's subsidiary saw a substantial drop in its business, leading to a decrease in turnover of 44%.

Newrest in Niger is a subsidiary for which 80% of its turnover results from its Remote site business and it was significantly affected by the closure of the Imouraren site, a uranium mine managed by Areva, at the end of 2014. In the prior year, this contract alone accounted for 52% of the subsidiary's turnover. With the closure of this project, Newrest in Niger was obliged to implement an overall restructuring programme: Imouraren employees were relocated to other sites in the zone of Arlit, Cominak and Somaïr. Newrest in Niger continues to provide services to the two remote sites operated by other Areva Group subsidiaries and provides more than 400 meals per day.

M o r o cco / N i g e r / N i g e r i a

Despite these difficulties, the entire local team used all of their expertise to face the challenge and initiate actions to develop business within the country. In 2015, the efforts were rewarded in the form of two new remote site and catering contracts. Newrest in Niger works for the Barchan Force of the French Army based in Arlit in their restaurant, serving more than 120 men. The second contract includes the management of the Orange company restaurant in Niamey and covers 40 meals per day.

069

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

NORTH AFRICA DIVISION

NIGERIA 3

Production units

3,000 Meals served per day

With regard to retail, our two Daily Break points of sale located in highway service stations have been open for a year now. As the restaurants got off to a slow start, the subsidiary in Niger reviewed its range of products and sales prices to better adapt them to the local purchasing power and the culinary tastes of consumers. A “take-away” option will also be available by the end of the year. Since the complete redesign of the menu, Newrest in Niger has seen an increase in turnover of more than 90%.

The Newrest Group remains very committed to its presence in Niger. In the coming year, the subsidiary in Niger intends not only to consolidate its existing commercial partnerships but also to develop other activities by proposing innovative and competitive catering and hotel solutions to economic operators.

ASL Nigeria, a public company in Nigeria, entered Newrest’s portfolio in August 2015.

ASL provides airlines catering services in Lagos, Abuja and Kigali (Rwanda) as well as lounge services (Lagos & Abuja), retail and duty free outlets.

Newrest has significantly strengthened its shareholding in ASL in 2015, and in agreement with the board, instituted a number of management changes for the company. Richard Akerele, previously CEO, has taken on the role of non-Executive Chairman, while Laurent Moussard was given the responsibility as country manager for Nigeria. Alain Masson has taken over the new position of General Secretary, assuming he responsibility for Finance, Administration, Legal and Human Resources.

An entire task force, made up of almost a dozen Newrest staff was sent to Nigeria for 2 months in order to institute changes in processes, procedures, unit changes, HACCP audit, financial audit,

Left: Point of sale Daily Break managed for Total – Niger ◀

070

Right: Newrest employee serving a client – Tunisia ▶

IT evaluation, commercial integration, retail and lounges as well as brand strategy, in order to boost ASL and to confront the major competitive issues that ASL is facing with the entrance of 2 new competitors in Lagos, change of government, and depressed international oil & gas prices putting major pressure on Nigerian GDP. The process of change at ASL is still in early days, but management is convinced that Nigeria, country with the largest and growing population in Africa, offers major opportunities for growth and improvement in the future and our group will put major efforts into rightsizing the company and preparing it for a successful future.

TUNISIA 28

Clients

10

Sites of operation

27 Points of sale

▼ - 41.2 %

Managed turnover decrease in Tunisia

In 2014/15, Tunisia faced many major events, especially involving security, which dashed the hopes of an immediate economic recovery and worsened tensions within society.

In this difficult environment, the year was marked by a significant drop in the scope of business for Newrest in Tunisia, especially in Inflight and Retail.

In the Inflight sector, despite extreme efforts and the unshaken commitment of the Group, all of the inflight catering activities came to a complete halt.

The airport retail business, for its part, was heavily affected by the drop in tourist travel of close to 70% in 2014/15.

A pioneer in catering trades, Newrest in Tunisia continued to work on consolidating its historic presence in the country despite all odds and on strengthening its position in catering, Remote sites and retail. With regard to catering, which represents close to half of the subsidiary's turnover, Newrest in Tunisia limited the loss of business thanks in particular to the retention of its major clients, including British Gas, Total and the Etablissements d'Enseignement Français en Tunisie. The subsidiary was also able to add new clients to its portfolio: it manages a canteen of AMI Assurances and four sites for the private El Amen clinic, serving 750 meals per day.

In the Remote site sector, the year was successful for Newrest in Tunisia: new onshore and offshore contracts for Rowan Drilling and ECC/TCC were signed, bringing our services up to 570 POB. The development of the supply business for a number of remote operators and the new contract with OMV Gaz Sud must allow the subsidiary to recover growth in the early part of next year.

Regarding Quality and Hygiene, however, 2014/15 was particularly busy, with the renewal of the ISO 22000 certification for the Lycée PierreMendès-France and British Gas sites, but especially the new ISO 9001, ISO 14001 and OHSAS 18001 certifications.

N i g e r i a / Tu n i s i a

071

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

NORTH AFRICA DIVISION

Next year, despite very serious economic difficulties facing the country, the Newrest Group intends to consolidate its positioning in Tunisia in all business sectors. Every crisis provides opportunities to those who know how to adapt. This is Newrest's challenge in Tunisia for upcoming years.

SOUTHERN AFRICA

Angola

Cameroon

Congo-Brazzaville Gabon Madagascar Mozambique South Africa new Tanzania Uganda Zambia

44,700

83.6 M €

8.6 %

Meals served per day

Managed turnover 2014∙15

of Group’s managed turnover

TUR NOVER DISTRIB UTION (Total managed turnover 2014∙15 excluding Saudia Catering)

31.3%

I NFLI G H T

67.0%

REMOTE SITE

1.6%

R E TA I L

0.1%

CAT E R I NG

In Central and Southern Africa, the Newrest Group underwent substantial changes in general organization, with restructuration reducing Divisions from three to two on the continent.

This allowed Cameroon, Congo and Gabon to be attached to existing countries.

In the Remote site business, the integration of those three countries and the start-up of Remote site activities in Angola created constructive synergies and savings for Newrest and also for clients. Our offshore clients, for example, can now move their equipment from one country to another, with continued service guaranteed, and without borders. In the inflight business, multiple airport projects will be initiated next year, resulting in the construction of several brand new terminals. Drawing from our extensive inflight network, as well as our longstanding experience in retail on the continent, we are today able to work in collaboration with airport authorities offering innovative projects and guaranteeing adequate integration of our assets. Developing catering activities in the division remains a strategic priority: although the South African catering market is mature and contracts are limited, Newrest challenges the competition by maximizing its assets.

Introduction

In Uganda our joint venture with UIS renewed our retail contract for the Entebbe airport. This also led to multiple catering contracts in the B&I sector with stakeholders of the airport. These new contracts validate our strategy based on activity diversification.

In Angola, the signature of a major offshore Remote site contract in Soyo has been the opportunity to enlarge our ship supply activity and to propose significant activity coverage to clients and prospects in the country. A new sales team was contracted, and they brought expected dynamism and experience to new contracts.

In Madagascar, the Group’s priority is intensive support for Ambatovy, our key local client, during these extremely difficult economic times. By doing so, Newrest has demonstrated its skill in working alongside clients, to reduce cost while maintaining a high quality of services.

Recognition for dnata Newrest has shot up over the past year amongst airport stakeholders in South Africa. Carried by an ambitious action plan and a highly motivated partner company, the joint venture continues supporting historical customers, and plans to welcome new clients.

In Congo, the mobilization of four new offshore contracts in the space of two months, supporting more than 400 POB, demonstrated Newrest’s competence in the Remote site sector. All necessary means have been deployed, including a new logistic hub.

During its restructuration, Newrest in Gabon, obtained a long-term contract with Total, off the coast of Port-Gentil. This is a guarantee of the Group’s continued presence in this country. The dynamism of our retail activity at the Libreville airport will be confirmed through the inauguration of a new Newrest-managed retail point.

In Zambia, Newrest is seeking new activities within Lusaka’s airport. Operations should increase over the next few years, thanks to the project for a new airport terminal, which will be operational in 2017.

073

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

SOUTHERN AFRICA DIVISION

074

ANGOLA 2

Clients

8

Sites of operation

9,000 Meals served per day

Containers being charged – Angola ▼

▼ - 26.6 %

Managed turnover decrease in Angola

For Newrest in Angola, 2014/15 was a transitional year. A number of new contracts were signed, which consolidated its solid positioning on the local catering market. The subsidiary, which is mainly devoted to management and catering for off-shore platforms and ship supply, also relies on its expertise to provide group catering services.

In terms of the Remote site sector, the year was successful for Newrest in Angola, which saw its Ship Supply business grow considerably. The subsidiary increased operations by a factor of two on the Sonils site in Luanda and acquired new clients, such as Somoil, an Angolan oil company, as well as CGG. Newrest in Angola thereby considerably strengthened its presence in the country's different ports, in particular Soyo, but also Port Ambouin, Dande and

Lobito, to name a few. The management contract for the historic African Worker barge ended this year after operations ceased and it was demobilised. In the Remote site sector, 400 dedicated employees work for seven clients and serve 2,000 POB. In the group catering and hotel services sector, the year was not as bright: after five years of operations, the Angolan subsidiary lost its management contract with Total for the Chicala hotel. Nevertheless, the AFM contract for the Torre Atlantico company restaurant in Luanda was renewed in January 2015 and covers 600 meals per day.

With regard to safety, Newrest's teams in Angola celebrated 12 consecutive accident-free months on a number of sites, a perfect illustration of the teams' commitment to occupational safety. This commitment undeniably contributes to improving the satisfaction of the Angolan subsidiary's clients, who know they can count on our dedication in every way.

In view of the complex economic environment facing 2015/16, Newrest in Angola has started to work on innovative solutions to support its clients in their cost reduction processes. The diversification of activities, which had already started over recent years, will also be one of the central themes of this new year.

CAMEROON 1

Client

5

Sites of operation

4,000 Meals served per day

Newrest staff – Cameroon ▼

▲ + 16.4 %

Managed turnover increase in Cameroon

Despite the bearish economic climate in the oil sector, Newrest experienced a year of growth in 2014/15, with a rise of over 16% in turnover. Perenco renewed its trust in Newrest for management of all its offshore sites, particularly with the inauguration of the new Munja flotel in July, able to accommodate 200 people.

Based on the Group’s policy for diversification of activity in every country of implantation, the Cameroonian subsidiary began business in corporate catering after winning the bid for the restaurant

at the training center for Eneo, the local national electricity producer and operator. Newrest provides catering services during the day, for 60 to 150 trainees per day. As part of this contract, the subsidiary also provides catering for the Zonals, an annual sporting event where all Eneo regional teams participate, or approximately 700 persons over one weekend.

The year was also synonymous with stability and security for operations with the implementation of new processes. Moreover, the Cameroonian subsidiary increased its autonomy, thanks in particular to a drilling operation that allowed for complete independence of water needs and also offered scope for freely supplying water to local populations.

As part of the kitchen training provided since the previous year, the Cameroonian subsidiary hired a pastry chef to train its offshore staff. About 20 employees benefitted from these cooking and pastry classes, with over 300 hours of training provided, equal to 15 hours of training per employee. Newrest in Cameroon plans to continue capitalizing on the human aspect of business, and has also implemented a mutual fund to cover the health expenses of its employees and their families.

All teams in Cameroon are dedicated to Quality, and are working hard towards obtaining ISO 9001 certification, with the new version in October 2015. After its successful investments, and thanks to securing its operations, the subsidiary has positioned itself as a key player in Cameroon’s catering sector.

075

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

Angola / Cameroon

SOUTHERN AFRICA DIVISION

076

CO N G O - B RAZZAV I L L E 6

Sites of operation

1,200 Meals served per day

6

Clients

▼ - 50.2 %

Managed turnover decrease in Congo-Brazzaville

In Congo, following the loss of the main ENI contract in July 2014, which alone represented over 60% of turnover, the 2014/15 financial year was a challenging one, between structural readjustment and business dynamism.

The sudden, sharp and sustained drop in oil prices weakened sales even further, ending in the departure of the Triumph barge, owned by our offshore client SFG, in April 2015, followed by the termination of an onshore contract for Caroil in May 2015. For the Above: Bourbon's refueling ship Opposite: Hercules 260 Offshore activity in CongoBrazzaville ▶

same reasons, the Geoocean flotel, purchased by the Congolese subsidiary, which was scheduled to collaborate with one of the major companies (ENI or Total), experienced a major plunge in activity.

As a consequence, the strategy of Newrest in Congo had to be refocused on improving competitiveness with optimized rates, management of structure fees, better responsiveness with partners and greater support from headquarters along all management levels.

Thanks to this active support, particularly on the commercial front, the end of the financial year was marked by a solid rise in business for the Congolese subsidiary, with several new contracts. A contract was thus signed with Saipem for the TAD1 oil platform, an offshore rig with 100 POB for ENI. Moreover, operations began on the Hercules 260, an offshore drilling rig with 90 POB also for ENI. Their catering services had been managed by the Group’s Gabonese subsidiary until then. Newrest also signed a new test contract in Congo with Bourbon, for a refueling ship of 15 POB. This should lead to the management of 9 other such ships, and two larger vessels (100 POB for each one on average).

Simultaneously, the Congolese subsidiary successfully completed an 8-week contract on the Halani 1, a flotel accommodating over 200 POB, chartered by Petro Services, for Total. Positive feedback has been received from all players involved.

Should things continue in this vein, the upcoming year will allow the Congolese subsidiary to stabilize its activity thanks to proper execution of ongoing

C o n g o - B ra z z a v i l l e / G a b o n

077

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

SOUTHERN AFRICA DIVISION

contracts, and further structuring to respond to the major bids scheduled for the end of 2016. Newrest also plans to diversify its activity in Congo to include the public catering market at the Pointe Noire airport.

GABON 6

Sites of operation

3

Points of sale

3,000 Meals served per day

▼ - 25.2 %

Managed turnover decrease in Gabon

In Gabon, as with many other Newrest subsidiaries in Africa, the year 2014/15 was strongly marked by a drop in oil sector business. In eight months, Gabonese subsidiary experienced an important drop in turnover and the number of clients fell from ten to three.

In terms of Remote sites, which were particularly affected by the crisis, several contracts were terminated for various reasons: departure of barge from Gabon, termination of drilling after the drop in oil prices or contract lost to another company. Nonetheless, the Gabonese subsidiary was able to achieve a few exploits: after 6 months of fruitful collaboration on the Hercules 260 offshore drilling ring, which accommodates 90 POB for ENI, the ship continued its route towards Congolese waters. The Newrest Group thus shows that its expertise knows no limits, and offers its clients offshore catering solutions in various African countries. Moreover, Total renewed its trust in Newrest’s Gabon subsidiary with respect to its offshore facilities, particularly with the addition of the OTT01 flotel, with a foreseen capacity of 350 POB. The diversification of its Remote site activities was solicited by SEEG (Gabonese electricity provider) in order to manage its accommodation, catering and event services at its national training center, as well as its two remote sites for hydro electrical dams in Tchimbélé and Kinguélé.

In the airport concession sector, business also dropped during the year, despite the successful renovation of Calao and Caffé Lindo outlets at the Libreville airport. Newrest in Gabon plants to carry out major managerial changes and implement an exchange of expertise with the North African Division, while applying management basics well-known in the zone. The three points of sale operated by the subsidiary will thus become a window for the Group’s expertise in terms of concessions in the South African zone.

Where Health and Safety is concerned, the Gabonese subsidiary is proud to have obtained health approval from the AGASA (health agency for companies and organizations in the food sector) in September 2015.

Above: Container loading in Remote site activity – Gabon Left: Retail point of sale Calao – Libreville airport (LBV), Gabon ◀

078

Prospects are ambitious for next year: the key condition for a pick-up in growth is continued structuring of the management team, by implementing internal Group management systems (e.g.

Winrest) and by restructuring its central services.

MADAGASCAR 6,000 POB

4

Points of sale

7

Contracts

▲ + 19.5 %

Managed turnover increase in Madagascar

Present in Madagascar since 2006, Newrest significantly increased its business on the island in 2013 when the Remote site contract was launched with Ambatovy for a nickel and cobalt refining site. The subsidiary in Madagascar supplies approximatively 6,000 POB per day on three main sites for this client: two in Tamatave and one in Moramanga.

Left: Meal preparation at Ambatovy Remote site – Madagascar ▶

The entire local team relies on its expertise to ensure the satisfaction of this client, in particular by supporting its efforts to reduce costs in light of the current drop in prices of raw materials. In the

second quarter of 2015, for example, when the nickel price hit the lowest level since the beginning of the mine construction in 2007, Ambatovy had to put part of its employees on technical leave and reduce the number of subcontractors working on the Tamatave site. Between April and June, Newrest in Madagascar had to terminate the contracts of close to 100 employees working on this site - 15% of its personnel - due directly to the drop in the number of meals served. This reduction impacted both local and expatriate workers.

In this difficult work environment, the subsidiary in Madagascar doubled its efforts to offer Ambatovy's employees a living environment that is as pleasant as possible. Newrest's teams in Madagascar were, for example, involved in the organisation of site events.

Throughout the year, the subsidiary organises festive events to brighten the various living areas on the sites: national day celebrations honouring Madagascar as well as other countries, Christmas concerts and shows, theme-based lunch and evening events, etc.

From a sales perspective, Newrest in Madagascar also extended its client portfolio thanks to two new corporate catering contracts. The subsidiary is now working for its new client Sacimem in Antsirabe, serving close to 100 meals a day, and in Holcim in Tamatave, where it serves around 50.

As part of its continuous improvement process for services, Newrest in Madagascar successfully passed the annual ISO 9001 certification examination. This result reflects the efforts of the teams in Madagascar to implement processes targeting maximum customer satisfaction. In parallel, new partnerships with the Institut Pasteur and the Royal Environmental Health Institute of Scotland respectively contribute to the approval of the quality of meals served, based on bacteriological tests, and to the training of Newrest's employees in Madagascar.

Gabon / Madagascar / Mozambique

079

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

SOUTHERN AFRICA DIVISION

Warehouse at Ambatovy Remote site – Madagascar ◀

M OZ A M B I Q U E In Mozambique, the oil industry slowdown and the overall economic context prevented the Group from solidifying its operations, despite local presence and solid partnerships.

The Group remains confident however, given the potential of the local market. Field resources offer many opportunities, particularly in the field of Remote sites, but also in corporate and inflight catering. Mozambique therefore shows wonderful prospects for growth in the upcoming year. Several projects have been presented in response to numerous bids.

080

SOUTH AFRICA 2

Production units

12,000 Meals served per day

18

Clients

▼ - 0.2 %

Managed turnover decrease in South Africa

The year 2014/15 was a successful one for dnata Newrest in South Africa. The joint venture, which is for the most part dedicated to the inflight sector, saw its turnover increase by 8% as compared to last year.

Dnata Newrest operates two production sites in Cape Town and Johannesburg, and offers inflight catering, VIP catering, lounge management and Duty Free on Board services to 18 clients.

Opposite: Inflight VIP meal Above: dnata Newrest high loader catering client’s airplane – South Africa ▶

In terms of sales, 2014/15 was a success: relations with our clients improved considerably thanks to the implementation of monthly meetings. A new lounge contract for the Cape Town airport was signed: from February 2016, the joint venture will provide catering and hotel services, and a dedicated team of 18 individuals will serve more than 100 meals per day.

For its part, inflight catering, despite two contracts having been lost (Singapore Airlines in Cape Town and Johannesburg, and Thai Airways in Johannesburg), saw its turnover rise thanks to an increase in business with a few existing clients: Emirates increased its flights from three to four per day to Johannesburg starting in October 2014. Air Namibia inaugurated a new service in March to Walvis Bay in Namibia to the tune of an additional four flights per day. And Malawian Airlines increased its weekly flights from seven to nine in August. Also, the joint venture is awaiting a number of answers to tenders, in particular from Air France KLM for both Johannesburg and Cape Town.

In terms of Quality and Hygiene, the joint venture is in the last stage of the ISO 9001:22000 certification process and the certificate should be issued in December 2015. The HACCP documentation was significantly improved and a Medina audit was conducted. Dnata Newrest is awaiting the results and is confident about the results.

So 2014/15 was a year of stabilisation and consolidation in the joint venture's businesses: after the merger with dnata in 2013 and a rocky, difficult 2013/14, the future is bright for dnata Newrest.

UGANDA 10

Inflight customers

1

Client

1

Point of sale

TA N Z A N I A 1

Client

1

Site of operation

▲ + 21.2 %

Managed turnover increase in Uganda

Newrest Group experienced a constructive year in Tanzania, where it officially established its subsidiary amongst rich potential.

After several projects in the airport concession sector, operations finally kicked off, integrating Remote site activities for Caroil. Newrest successfully established itself at the Mtwara site by managing the Rig C2 camp. Although this contract is for a short time, Newrest is confident that many other opportunities will come knocking in its various sectors of business.

2014/15 has been a successful year for our joint venture in Uganda with UIS (Uganda Inflight Services): the general turnover is on the rise and client satisfaction is high.

Newrest UIS, which operates in the inflight, catering and retail sector, received various recommendation letters from important clients, which encouraged our local team even more.

In the inflight business, existing contracts with KLM, Brussels Airlines, Qatar Airways, South African Airways and Flydubai were successfully renewed.

Newrest UIS, whose inflight turnover represents 94% of its global turnover, is operating an inflight kitchen next to Entebee airport: the 2,300m2 sized unit produces 2,100 meals daily for 10 standard and private flights. Operations ceased for Ethiopian Airlines: a regional decision leads the airline company to back caterer their flights departing from Addis-Abeba, Ethiopia. This could be partially compensated by the launch of two new contracts in the inflight catering activity: British Airways has loaded its meals at Entebee airport since January 2015, with Newrest UIS

081

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

S o u t h A f r i c a / Ta n z a n i a / U g a n d a

SOUTHERN AFRICA DIVISION

082

serving 200 daily meals for the British airline company. Additionally, the Ugandan joint venture could add another new client to its customer portfolio: since June 2015 Newrest UIS has served 120 daily meals for DFS.

ZAMBIA 1

Production unit

2

Clients

3,500 Meals served every day

In the retail sector, the joint venture also had a very successful year: renovation of “Voyager Restaurant” was completed in September. The Newrest UIS team is very motivated to provide high quality services at this new and welcoming place: the fully refurbished restaurant is now ready to offer the best dining experience for the passengers and Airport employees.

For Quality and Health, the Ugandan joint venture successfully renewed its ISO 22000:2005 certification in July and the Halal Certificate in August 2015.

In addition, several major audits with successful scores were conducted by Qatar Airways, Rwandair, NSF on behalf of British Airways (Amber) and Medina on behalf of KLM. For 2015/16, Newrest UIS will work even harder on its network, specially monitoring all opportunities in the catering activity: the joint venture was awarded the contract of the Ugandan Civil Aviation for their staff canteen. The contract started on October 2015, Newrest UIS serving an average of 300 meals a day.

Other final decisions for catering are expected soon: a bid for Monusco, a mission of the United Nations Organization, was submitted in February and we are still awaiting the answer to the bid.

Food preparation for inflight business – Entebbe inflight kitchen (EBB), Uganda ▶

▲ + 53.7 %

Managed turnover increase in Zambia

Newrest in Zambia, which operates an inflight production unit based next to Lusaka’s international airport, is mainly dedicated to inflight business (including inflight catering and lounge management), which represents more than 96% of global turnover. The inflight unit spans 3,400m 2 and serves 5,000 meals per day for 6 customers.

During the financial year 2014/15 all inflight contracts held by the Zambian subsidiary were renewed.

Our clients Emirates and South African Airways renewed their contract for two more years, confirming their satisfaction with the services provided. The efforts put forth by the Zambian team were key in retaining these contracts and in considerably improving the financial situation of the subsidiary, which can now operate independently of the Newrest Group’s financial support. In July 2015, a contract was signed

Uganda / Zambia

083

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

SOUTHERN AFRICA DIVISION

Newrest team in the inflight kitchen Lusaka (LUN) – Zambia ◀

with the Zambian airline Proflight: Newrest in Zambia is now catering an average of 20 flights a day for this local company. With this new contract the Lusaka’s inflight production unit has significantly increased its daily food production activities.

The Newrest Group strategy requires activity diversification in each country of business. Our Zambian subsidiary started catering activity providing daily meals to the French School of Lusaka. Newrest in Zambia delivers daily lunches for students and teachers, and the contract has been renewed for the new school year 2015/16, a sign of client satisfaction.

After having renewed its major contracts, Newrest Zambia is now focusing on new challenges such as ISO 9001 certification (expected in December 2015), diversification of activities and renewal of production assets. To this end, new high-loader trucks are expected over the course of the year, and other investments toward facility improvement are being considered.

M I D D L E - E A ST, A S I A & O C E A N I A

Bahrain Kuwait New Caledonia new Oman Philippines Qatar Saudi Arabia United Arab Emirates

292,400

576.2 M€

38.5 %

Meals served per day

Managed turnover 2014∙15

of Group’s managed turnover

TUR NOVER DISTRIB UTION (Total managed turnover 2014∙15 including Saudia Catering)

17.0%

CATE R I NG

75.4% IN F LIGHT

4.9%

R E TA I L

2.7%

R E M OTE SI TE

Introduction

085

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

M I D D L E - E A ST, A S I A & O C E A N I A D I V I S I O N

The year 2014/15 was a busy one for our Middle East, Asia and Oceania Division.

Overall, the Group's positioning in the geographic zone gained strength. This region represents a source of significant growth for the Group but also faces tension in the oil, gas and mining sectors.

Alfursan lounge – Riyadh airport (RUH), Saudi Arabia

For these reasons, the Division was forced to oblige all of its subsidiaries to rigorously manage their activities and operations in order to achieve optimal productivity and competitiveness.

In Oman, in a complex economic environment, Newrest Wacasco, our joint venture, stabilised its sales, in particular in the oil and gas sectors. A drastic cost reduction policy was launched and productivity improvement plans were implemented. These measures rapidly met with success: net income increased as compared to 2013/14. Thanks to its sales plan and the demonstration of its expertise, the joint venture saw contracts renewed and also signed new ones: Newrest Wacasco now works for clients such as Oman Refreshment Company, the French school in Muscat, Bauer and Galfar, to name a few. In the catering sector, Oman's joint venture implemented a “Healthy Living” programme, which was deployed on most of the sites it manages. This awareness campaign on balanced diets increased our clients' and consumers' satisfaction.

In Qatar and Bahrain, 2014/15 was a key period for our Newrest Gulf joint venture. A number of new contracts were launched: Newrest Gulf serves its client QDVC, Vinci's local joint venture, thousands of meals per day and also signed a contract with the Ministry of the Interior for the management of the national command centre cafeteria. These new contracts illustrate the Qatari joint venture's expertise in terms of quality and QHSE. Next year, Newrest Gulf is counting on many ambitious projects and intends to achieve ISO 22000 certification.

◀

In the Philippines, our joint venture with Supply Oilfield Services stabilised its business and turnover in 2014/15. The work of Newrest SOS's teams was particularly focused on the quality of services rendered and customer satisfaction. Newrest SOS also started working on a new contract for Technip this year.

This year was an important one for the Middle East, Asia and Oceania Division with the startup of activities in New Caledonia. After awarding the contract for accommodation and catering services, Vale decided to entrust Newrest with the management of its nickel-cobalt production site “Usine du GrandSud” plant in New Caledonia. This plant covers 19 hectares. It produces 60,000 tonnes of nickel oxide and 4,500 of cobalt carbonate. Vale in New Caledonia employs 1,400 individuals directly and 2,800 through 70 subcontractors. This is a €4.3 billion project, one of the largest investments in France after the nuclear power plant in Flamanville in the Manche region and investments made in microelectronics by STMicroelectronics and various partners in Crolles, Isère. Since early November 2015, Newrest's team of 230 in New Caledonia provides all of the Remote site support and management services, including catering, accommodation, laundry, cleaning and maintenance. This new contract once again solidifies Newrest Group's positioning in the mining sector.

086

B A H R A I N & Q ATA R 3

Clients

1

Site of operation

17,000 Meals served per day

QDVC’s labor camp – Doha, Qatar ▼

Established in Doha in 2013, our joint venture Newrest Gulf not only operates in Qatar, but also covers business activities in Kuwait, Bahrain and the United Arab Emirates.

Only a short time after its creation, Newrest Gulf counted more than 450 employees and widespread between a vast panel of strategic projects with major actors of the construction, oil & gas and Governmental industries. At the moment, Newrest Gulf is the only catering and support services company of the Gulf region able to offer the perfect balance between quality service and competitiveness. The joint venture aims as much as possible to provide a comprehensive solution to its clients by not only operating services but also designing the working QDVC’s labor camp’s restaurant – Doha, Qatar ▶

facilities like kitchens, mess halls, laundry rooms, logistic docks, as per the highest sustainability and economic efficiency.

2014/15 was a successful year for the Qatari joint venture: client’s satisfaction is high and several new contracts and renewals were signed. Newrest Gulf counts new customers such as Shell HSE Monitoring (Qatar) and the Minister of Interior of Qatar (Qatar) and provides catering services for NOH2 Orbital Highway construction project (Qatar), Qatar Rail LRT Underground Lusail project (Qatar) and Nabors drilling project (Bahrain). Several client satisfaction requirements were established, concluding encouraging results: in QDVC’s labor camp, a food tasting session was conducted every week with a panel of camp residents and has resulted in overall satisfaction (more than 78%) with Newrest Gulf’s catering.

In the National Command Center, Minister of Interior, more than 80% of the cafeteria consumers have expressed their satisfaction on a daily basis through the electronic survey counter directly displayed in the dining hall.

In Quality and Health matters, Newrest Gulf’s team has ensured that each of the delivered onsite services was properly aligned to the standard of HACCP and ISO 22000 not only through processes but also thanks to constant and regular staff training with

incentives for the best of them. ISO 9001 certificate has already been obtained. ISO 22000 certification is underway and will be obtained by early 2016.

Fast-expanding, Newrest Gulf serves today a total of 15,000 daily meals and looks forward to double this figure by the end of 2016. To achieve this target, Newrest Gulf aims to initiate several key projects, such as the Police Training Institute of Qatar, the Head Office of the Internal Security Force of Qatar.

Additionally, the joint venture plans to initiate first catering contracts in the education sector with Qatar Foundations Schools and will finalize Central Kitchen’s project able to serve more than 20,000 meals per day.

NEW CALEDONIA 1

Site of operation

5,000 Meals served per day

1

B a h ra i n & Q a t a r / N e w C a l e d o n i a

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Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

M I D D L E - E A ST, A S I A & O C E A N I A D I V I S I O N

Teams manage accommodation and catering services for the nickel-cobalt production complex at the Grand-Sud factory. This is a global project, and one of the biggest French investments since the EPR in Flamanville in the Manche region, and the micro-electronics investment (STMicroelectronics) and other partners in Crolles, Isère region.

The Vale New Caledonia industrial complex has a surface area of 19 hectares and includes an open-air mine and an ore-processing plant. Production is rising steadily, and should reach 60,000 tons of nickel oxide and 4,500 tons of cobalt carbonate in the long term. To successfully complete these operations, Vale NC has a little over 3,000 employees, including 1,400 direct employees and 70 subcontractor companies. Newrest will provide services at the remote site and satellite structures for the Grand-Sud factory – a total of 1,000,000 meals and some 300,000 overnight stays per year.

Client

Self service restaurant, Usine du GrandSud plant – New Caledonia ◀

The end of the year 2014/15 was cruicial and intense, for Newrest teams in Oceanica and for teams responsible for Remote site operations within the Group.

After signing a new contract with Vale - which was already a client - the Newrest Group kicked off business in New Caledonia.

The Vale Group has thus decided to continue the collaboration already initiated with the Newrest group in the Sultanate of Oman, where close to 450 people have been served at the Sohar site’s restaurant since 2011. This new contract will allow the Newrest Group to continue its development in the overseas territories and establish itself in New Caledonia.

Newrest already has operations underway in French Polynesia.

088

OMAN 4

Clients

98

Sites of operation

1

Point of sale

▲ + 8.5 %

Managed turnover increase in Oman

expertise for new sites this year. Also, the diversification of activities that had already started continued and, in particular, major contracts were signed with construction operators such as BEC in Sohar and Galfar in Qarnalam, which started in 2014/15.

Similarly, two corporate and school catering contracts were successfully launched this year: for a few months now, canteens for the Pepsi company and for the Ecole Française de Mascate have been managed by the joint venture in Oman, which illustrates the ability of the Newrest Wacasco teams in developing an innovative, competitive offer for the B&I catering sector.

Opposite: Aurélie Guegen with Newrest Wacasco’s client the Ministry of Education Muscat, Oman ▶

Despite the oil crisis that struck most of our clients, 2014/15 was a success for the Newrest Wacasco joint venture in Oman.

The joint venture offset its losses in turnover and the drop in business on contracts with existing clients thanks to its commercial approach and many new contracts.

In the Remote site sector, oil or oil-related companies such as Schlumberger, Abraj, Halliburton and Great Wall, put their trust in the joint venture's

To enhance its image as a local reference for catering, Newrest Wacasco designed a program called “Healthy Living”, which it implemented throughout the year and deployed on most sites managed by the joint venture. Many events were organised based on themes such as sports, nutrition and well-being.

Our clients truly enjoyed this program, which will be renewed next year. Similarly, Newrest Wacasco

Oman / Philippines

089

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M I D D L E - E A ST, A S I A & O C E A N I A D I V I S I O N

consolidated its quality system by achieving the renewal of its ISO 9001 and ISO 22000 certifications in April 2015. Finally, the joint venture continued its efforts in terms of internal and external training, as well as the promotion of omanisation.

Thanks to these different actions, the joint venture in Oman continues to stand out from the competition both due to the quality of its services and its responsiveness. For the upcoming year, Newrest Wacasco is launching a major project to build a dedicated central kitchen and logistics centre, which will allow for new markets to be conquered while improving our competitiveness. This will also be an occasion to create a training centre, as well as offices and quality accommodation for local personnel.

PHILIPPINES 50

New or renewed contracts

330

Employees

Above: Ship charging

▲ + 18.6 %

Opposite: Newrest SOS employee

Managed turnover increase in Philippines

The year 2014/15 was one of success and stabilisation for our joint venture with Supply Oilfield Services in the Philippines.

During the year, Newrest SOS successfully maintained its activities and achieved its sales. The entire team's work was particularly focused on the quality of services rendered and customer satisfaction.

The joint venture, which operates notably in the Remote site and Supply sector, achieved commercial gains: a total of 50 contracts were signed or

Offshore activity – Newrest SOS, Philippines ◀

renewed, for example with Technip, Schlumberger, Siemens, Maersk Drilling and Total.

With regard to Quality and Hygiene, Newrest SOS passed the “MLC2006 Surveillance” audit in November 2014 and two client audits: Rubicon in April and Siem Offshore/Overseas Drilling Ltd in July.

No non-conformities were noted in any of the three audits – an encouraging result. Also, the joint venture extended its ISO 9001 and OHSAS 18001 certifications in January 2015.

090

SAUDI ARABIA

Inauguration of Alfursan airport lounge – Dammam airport (DMM), Saudi Arabia ▼

▲ + 7.6 %

Managed turnover increase in Saudi Arabia

SACC in the Kingdom of Saudi Arabia had an extremely challenging year but managed significant improvements in all aspects of its business processes.

Most importantly, SACC has managed to diversify its business revenues, compensating for a slight decline in inflight revenues primarily driven by reductions from Saudia as well as cost improvement programs from our clients. Revenue in the Kingdom increased by 7.6% y-o-y principally by increases in non-airline activities.

Key highlights in Human Resources were the nomination of Wajdy Al Ghabban as CEO, replacing Gerhard Marschitz, Martial Verine, as COO Support Services & Catering replacing Bruno Heriché, and Jaap Roest, as COO Inflight & CPU. In addition Mr. Sultan Al Booq was nominated to the new position as Genera Secretary for SACC. Major efforts were put into automation in production processes especially at the CPU in Riyadh. Automation of Costing & Invoicing processes linking it to

Saudia’s Air Vision Project was implemented during the year. Centralization of HR, Finance, Purchasing and IT was achieved and the total number of training programs conducted in the year reached almost 500. Finally the number of female employees was increased to 102, an almost 100% increase over prior year.

The important contract with Saudia Airlines, covering inflight, menu planning, equipment management, inflight sales and lounges was renewed for a period of 5-years until 2020. A brand new laundry unit was inaugurated at King Abdullah Economic City (KAEC) with a capacity of 20 tons of laundry per day. In Medinah a new Al Fursan lounge was opened, as well as the construction of a brand new Inflight Catering unit, which shall be opened in January 2016. With an exciting breakthrough in the retail sector, six retail and duty free units were opened in Riyadh and Jeddah during the year. Finally a staff accommodation complex housing more than 1’500 employees was terminated and will be in operation as of early 2016.

S a u d i A ra b i a

091

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M I D D L E - E A ST, A S I A & O C E A N I A D I V I S I O N

Above: Food offer in domestic lounge – Saudi Arabia Opposite: Skysales duty free shop – Jeddah airport (JED), Saudi Arabia ◀

Overall a very challenging but productive year; the team is prepared for major challenges in the new year, given the current oil price, and is convinced that SACC can continue to prosper and grow even further in 2016.

AMERICA

Bolivia Brazil Canada

Chile Costa Rica French Polynesia Mexico Panama Peru

new

118,800

121.9 M €

12.5 %

Meals served per day

Managed turnover 2014∙15

of Group’s managed turnover

TUR NOVER DISTRIB UTION (Total managed turnover 2014∙15 excluding Saudia Catering)

43.0% R E MOTE SITE 29.2% IN F LIGHT

24.0%

CATE R I NG

3.5%

R E TA I L

0.3%

RA I L

Despite a sharp slowdown in the Americas Division for the mining market, the economic situation remained favorable, and the region’s revenue increased by 9,5%. Moreover, in spite of a consolidation of the Group’s activity fundamentals, allowing for better results than the previous year, the Division has not grown proportionately, and the overall economic state of affairs is still disappointing.

In Bolivia, it was business as usual, despite a harsher mining economy. The Total contract in Incahuasi was postponed and is now scheduled for January 2016.

The production unit at Santa Cruz, which has been serving Air Europa since late 2014, now also provides services to Starbucks and KFC and has obtained ISO 22000 certification.

In Chile, Newrest Group kicked off Airline business by opening a production unit in Santiago and the end of 2014. Since the establishment of a joint venture with Servair, Newrest has been working for United Airlines, and has begun a VIP lounge contract with client Latam. In the Remote site sector, the upcoming year will be a pivotal one to finally win several contracts in a context where ore prices are forcing several of Chilean mines to close down.

The Peruvian subsidiary continued its growth significantly by maintaining cost-optimization, thus providing a doorway for their accounts to get out of the red. Newrest in Peru obtained and maintained, in addition to Remote site contracts, numerous contracts in corporate catering and in the concession sector. The Lima production unit which opened in 2013, welcomed new clients this year such as Sky Airlines, Copa and Starbucks.

Costa Rica joined the Newrest family in May 2015, through the purchase of local company Casa

Introduction

093

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

AMERICA DIVISION

Provedora Philipps, including two units of inflight production: one in San José and another in Liberia. The Costa Rican subsidiary si completing major works on the San José kitchen, which benefits from an upgrade. Moreover, in the concessions sector, Newrest in Costa Rica completed the first of three point-of-sale renovations, with a completely revamped sales offering.

Newrest in French Polynesia experienced a tough year, although revenue was kept up. In the airport concession sector, the Polynesian team had to tackle the opening of the Atrium dining area at the Papetee airport, with more disappointing results.

Another let-down was the closing of a retail point in Bora Bora because of low profitability. The Group must revisit its production plan in light of this bleak outlook, to offer the first price reductions to its clients in the long term and thus guarantee the subsidiary’s survival.

In Canada, after opening a new production unit in Toronto, teams obtained a contract with Jazz Airlines, which boasts a volume of over 200 flights per day between the three Canadian airports.

Air France / KLM broadened its network with the Newrest Servair joint venture, which now serves 4,000 meals per day for this client. Finally, the restructuring of Canadian teams allowed for a more long-term vision of business in the country, enabling teams to face the new year with buoyed spirits and a conquering mindset.

Lunch service at Mejillones’ petrol extraction camp – Chile ◀

094

BOLIVIA 1

Production unit

2

Clients

6

Sites of operation

Newrest employees celebration “Feria” – San Cristobal mine, Bolivia ▼

▲ + 24.5 %

Managed turnover increase in Bolivia

Financial year 2014/15 was one of transition and stabilization for Newrest in Bolivia, with an overhaul of all management procedures and an reorganization of the purchasing and logistics department.

A much-needed clean-up and upgrade was completed for adverse contracts. Renewed contracts with YPFB Refinación and Minera Manquiri resumed with profitability, whilst our clients GTB and YPFB Transporte, in a state of deficit, exited the client portfolio of the Peruvian subsidiary.

The difficult situation surrounding mineral ore and oil has created an overall drop in activity in the mining sector, and delays in the various oil and gas projects underway in Bolivia. The decrease in client's staff based on the San Cristobal and Manquiri mines has sharply affected the local turnover. Nonetheless, efforts in term of management procedures, purchases, operations and total payroll, have allowed for compensation and absorption of the impact of this cloudy economic climate, by improving profitability.

A new contract was signed with Total, for management of the Remote site for the Incahuasi project, a gas extraction site located in the Bolivian Andes.

Unfortunately, the operations will only begin in February 2016, despite an initially-scheduled date of April 2015. Spie Capag extended its collaboration with our Bolivian subsidiary until next year, and wishes to continue even beyond this time frame.

In the Bolivian corporate catering sector, Newrest began its partnership with Delosur in July 2015, a group which manages, among other brands, Starbucks and KFC. The development and brand awareness enjoyed by these franchises, as well as the high number of products that Newrest produces for them in Bolivia, clears the way for positive 2016 prospects.

In the airline sector, numerous discussions with Boliviana de Aviación Airline will hopefully allowed us to enter the long-haul market (flights to Madrid and Miami).

Bolivia / Canada

In the Remote site sector, the Yacuiba project for client Cassobra came to an end in September 2015 after a fruitful collaboration. Newrest provided catering and maintenance services in Bolivia for 80 POB. ISO 9001, ISO 14001, ISO 18001, and ISO 22000 certifications (Remote site sector) were renewed.

ISO 22000 certification was obtained for the production unit close to the Viru Viru airport. Our Bolivian subsidiary’s QHSE department was successful in strengthening our position in terms of business prospects, an important issue on which the Group wishes to concentrate its efforts. The past financial year was therefore a period of competitive positioning on the market, and the upcoming year will be one of business development for Newrest in Bolivia.

CANADA 3

Production units

1

Client

1

Client

095

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

AMERICA DIVISION

The 2014/15 year was a productive one for our joint venture with Servair in Canada, since revenue shot up by 65%.

This significant development is particularly due to our new production unit in Toronto, inaugurated in February 2015. Some 10 million dollars were invested to see the new kitchen to fruition, with two completely separate preparation spaces for Halal and non-Halal foods. Newrest Servair in Toronto can now provide up to 35,000 meals per day.

In addition to the unit opening, the signing of two major airline catering contracts with Jazz Airlines and Air France / KLM is another high point. The three companies are now catered at our three bases in Canada: Toronto, Montreal and Calgary, now representing half of the country’s inflight revenue. A total of over 8,500 meals are served for 250 flights every day.

Also in the airline catering sector, two bids were acquired: inflight catering for Aéromexico flights in Toronto and the renewal of the contract with Air Algérie at our Montreal base. No loss of contract was reported for Canada this year.

Newrest Servair in Canada also enjoyed a fruitful year in terms of Quality and Health, obtaining ISO 9001 certification for the Montreal unit, and BRC certification for the Calgary unit. These certifications have particularly allowed us to maintain a high level

▲ + 64.6 %

Managed turnover increase in Canada

Newrest high loader in Montreal airport (YUL) – Canada ◀

096

of performance for all the audits conducted by our clients. Two other certifications await finalization next year for Toronto: ISO 9001 certification in January and Halal certification in March.

For the upcoming year, the Canadian joint venture will not rest on its laurels; several projects are already underway. The Newrest Group hopes to put all its expertise to use and develop Remote site activity, particularly in Northern Canada, and set up retail concessions in at least one of the three bases.

The Vancouver and Quebec City airports are also included in our prospects for the upcoming years, with an airline-sector development project on the horizon.

CHILE 1

Production unit

7

Clients

2

Sites of operation

The Newrest Group’s Chilean subsidiary managed to bring improve on its performance in 2014/15, despite a particularly grim economic backdrop marked by a drop in raw material prices, which weighed heavily on the Chilean economy.

This improvement was firstly possible thanks to various new and renewed contracts: for Remote sites, the prestigious Alma Observatory contract was renewed for a further two years. The remote site, located in the Atacama Desert next to the largest-known astronomical project, accommodates over a hundred scientists from all over the world, and truly puts Newrest’s expertise to the challenge in Chile.

In the corporate catering sector, our Chilean subsidiary renewed all contracts coming to an end, and also won new contracts, for example the AES Gener project in Mejillones. This allowed the Group to strengthen its position in B&I in the Antofagasta region, in the north of the country. In the education sector, Newrest won the bid for the “Universidad Autónoma” (Autonomous University) in the very center of Santiago Chile.

▲ + 91.8 %

Managed turnover increase in Chile Newrest Servair inflight kitchen – Santiago de Chile, Chile ▶

In terms of airline business, the year was marked by the completion of works in the production unit in Santiago Chile, operated by the Newrest Servair joint venture. The contract began in December 2014 for United Airlines. In August, LAN Airlines also entrusted us with providing services for their new business lounge, the biggest in Latin America, at the Santiago airport. In just one year, Newrest was able to strengthen its inflight presence in the country, and thus become a credible player on this segment.

Where Quality is concerned, we are currently obtaining ISO 9001 certification for both the production unit and the head office. This certification should become official during the month of November. Evidently, the efforts made towards QHSE paid off in terms of company image, and the success of the most recent client audits, especially for Alma, only highlight this. In addition to Quality, the Group’s

Canada / Chile / Costa Rica

management tools were implemented and are now used on all sites.

In Chile, Newrest is looking calmly ahead: this will serve as an opportunity to develop a delivered catering offer (from our central kitchen), in order to develop our capital-based operations, and also our presence in the Antofagasta region.

CO STA R I C A 2

Production units

10

Clients

3

Points of sale

The year 2015 was a decisive one for Newrest in Costa Rica: in May, the Group recommenced activities through local company Casa Proveedora Phillips, which already had 68 years of experience.

Casa Proveedora Philipps was active in the airline catering sectors (its main business) with two establishments (one unit in San José and another in Liberia), and at airport concessions.

The bigger unit, in San José, spans over 3,000m2, producing an average of 5,500 meals daily, with a capacity of up to 9,000 meals. Newrest in Costa Rica has a large team to serve about fifty daily flights. A major plan for reconstruction was put in place during the purchase: in order to meet the most recent Quality standards and Newrest Group standards, the

097

Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

AMERICA DIVISION

Costa Rican subsidiary invested one million euros to renovate the production unit. Works will probably be completed by late December.

The second unit, based in the town of Liberia in the north-west, 200 kilometers from San José, has an available space of 250m2 to serve 600 meals on average per day on over 20 flights. Airport activity is highly seasonal since Liberia is mainly a tourist destination. Newrest in Costa Rica is currently studying a renovation project for the unit.

In the airport concession sector, three points of sale were purchased, all located in the San José airport.

A store called “Tienda de Malinche” located in arrivals in a public-access area; a restaurant “Malinche Restaurant” located in departures in the customs zone; and a cafeteria “Deli’ Malinche”, located in the public-access arrivals zone. Since acquiring Casa Proveedora Phillips, the Newrest Group put all of its retail expertise into completely revamping the existing “Malinche” concepts. Everything was entirely redone and improved, down to the décor. The Costa Rican subsidiary has already invested 250,000 € into rejuvenating the “Deli’ Malinche” and also plans to refurbish the other two points of sale next year.

In terms of airline sector business, two new contracts were acquired for Air Alaska and TUI at the San José and Liberia bases. The beginning of operations was scheduled for early November, with 8 flights per week for air Alaska and one flight per week for TUI. In terms of Quality and Health, our activities, have been certified ISO 9001:2008 and ISO 14001, with the latter renewed in October 2015. Numerous client audits were completed with highly satisfactory results for our subsidiary.

Airplane loading in San José airport (SJC) – Costa Rica ◀

098

M E X I CO 1

Production unit

3,000 Meals served per day

7

Clients

Russian economic crisis, causing the devaluation of the rouble and consequently, since March 2014, the removal of flights destined to Cancun from Russian airlines such as Transaero Airlines. The Mexican subsidiary was highly impacted since this was their second-biggest client, whose total sales share had been constantly increasing over the last several years. In 2013/14, Transaero Airlines accounted for almost a third of total sales.

▼ - 1.7 %

Managed turnover decrease in Mexico

The Newrest Group is present in Mexico, a country with a considerable surface area, with its production unit specialized in airline catering.

This unit is located close to the Cancun airport, the second largest in the country. Air routes mainly include chartered flights from the United States and Canada, offering meals loaded at the airport of departure, as well as transatlantic flights from Europe.

With two other airline catering companies working out of the same base, business is subject to stiff competition. The year was also market by the Production area in Newrest’s San José inflight kitchen – Costa Rica ▶

Despite this economic pitfall, Newrest in Mexico sprung back on its feet quickly and effectively, allowing it to pursue financial objectives while maintaining quality and hygienic standards. The subsidiary was able to optimize costs by restructuring its teams and integrating certain services internally, such as pastry services.

Commercially speaking, the Newrest landed a contract with a new client in Mexico, the American company JetBlue, which runs an average of 160 flights per month. Moreover, several bids were completed during the 2014/15 financial year, for companies such as Air Berlin and British Airways.

Newrest in Mexico is continuing its efforts in Quality and Health. Since obtaining ISO 9001:2008 certification in July 2004, the subsidiary constantly improved its QHSE standards, based on a strict policy led by the Group. These positive results were confirmed with the British Airways audit (93%). Moreover, client-related incidents have decreased significantly.

Special meals were the main issue, and the subsidiary decided to train all the staff involved and to put a guide in place: the special meals manual (SPML).

Loading of Wamos Air’s Boing 747 – Cancun, Mexico ▼

Financial year 2014/15 was an opportunity for Newrest to reinforce its position in Peru.

Within a tense economic climate, due to raw material prices, the subsidiary experienced turnover stabilization after two years of dynamic growth.

Newrest noticeably improved profitability in Peru, proving that the management and restructuration efforts of the previous financial year were not in vain.

PERU 3

Clients

8

Sites of operation

46

Clients

2

Points of sale

Airline catering showed a marked increase in turnover, more than doubling, thanks to the Copa Airlines and Sky Airlines contracts. The unit also developed a synergy with the B&I catering sector: Newrest in Peru produces a large number of sandwiches every day for Starbucks, sold at 140 outlets across the country. In the production unit, management efforts - combined with the business boost and the new contract for a line of buses (Transportes Cruz del Sur), beginning in November 2015 and offering over 3,000 meals a day - allowed the subsidiary to draw closer to breaking even, which should be accomplished by end 2015.

Airline business has committed to ISO 9001, which should be completed end 2015, bearing in mind that the unit renewed its BASC certification and passed Starbucks’ extremely strict homologation audits with flying colors.

In the Remote site sector, the loss of two unprofitable contracts and the significant reduction in staff for the Constancia project weighed on the turnover recorded. That being said, new contracts and the renewal of our main contracts allowed the Group to strengthen business and envisage new prospects built on solid foundations. Moreover, and in conformity with the Group’s strategy, Newrest in Peru rose to the challenge of diversification, since the subsidiary entered the market for oil and gas companies, with the Olympic contract in Piura and the Cepsa contract in the Peruvian Amazon.

▲ + 7.1 %

Managed turnover increase in Peru

For corporate catering, the Group reached a 100% client-retention point. Simultaneously, we landed several contracts: Petrex, Mota Engil, Inkafarma, Kimberly Clark, Belcorp and the Ministry of Foreign

099

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M e x i co / Pe r u

AMERICA DIVISION

100

▲ Self service restaurant of our catering client TASA – Peru

Business among others. In terms of education, we also had successful business with the Universidad Catolica, Universidad Heredia Cayetano in Lima and the Universidad de Piura, and can now boast true legitimacy in this sector of activity. These developments strengthen our leading position on the B&I catering segment.

In terms of retail, Caffé Lindo, located at Lima airport, experienced an excellent year for customer traffic, thanks to the increase in passengers using the Lima airport. The Peruvian subsidiary also acquired a cafeteria in the Cusco airport, operated under the Deli’ Malinche brand, which opened its doors at the end of September 2015.

The continuation of expected growth on the airline catering sector as well as the dynamism occurring in Newrest’s other business sectors in Peru, allow the Group to envisage a 2015/16 financial year with a harmony of growth and performance.

F R E N C H P O LY N E S I A 1

Production unit

11

Clients

▲ + 2.7 %

Managed turnover increase in French Polynesia

3

Points of sale

Against a contrasting economic and social backdrop, the Newrest Group launched, in French Polynesia, several projects essential for its continued existence. The Group’s dynamic effort, motivated by our desire for growth, brought in the first results this year.

Newrest’s turnover in French Polynesia experienced a contrasted year. On the one hand, some unprofitable activities were voluntarily ended or limited. On the other hand, economic tensions appeared in a difficult and restricted overall economic context, such as the financial difficulties encountered by several of our clients, and tensions created by issues of purchasing power for Polynesian families.

In order to preserve our markets, the Group’s Polynesian subsidiary worked long and hard to improve its productivity on a clearly defined roadmap: industrial organizations were reworked, with a switch to cook and chill process for the central kitchen at Fa’aa, production organization was rationalized, with a transfer of hospital / clinic activity to the main Papara kitchen, units were secured and anti-shrinkage actions implemented, as well as management tools to improve day-today operational performance.

This year also saw the creation of a centralized purchasing function to improve supplier performance, homogenization of menu plans per client type and the improvement of ordering and delivery procedures across all businesses.

Moreover, in favor of implementing these new structures, the work organization of the production units were revisited as part of the restructuring, and a voluntary departure plan was put in place, in close and constructive collaboration with social partners.

These performances, strengthened by massive improvements in cash collection with clients, allowed the Polynesian subsidiary to improve its operational profitability by 17%.

Pe r u / F r e n c h Po l y n e s i a

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Activit y Repor t 2014 ∙ 1 5 ▶ 03 Operating Per for mance

AMERICA DIVISION

Newrest employee on the road to Mejillones – Chili ◀

Commercially speaking, Newrest reinforced its main contracts and initiated processes with public markets and associations, particularly with the public service concession, in light of self-managed school cafeterias.

Our Polynesian subsidiary also strengthened its quality process by requesting ISO 22000 certification for its two production centers (Fa’aa and Papara) and by forging ahead with several actions related to nutrition (particularly in schools, but also in collaboration with the State Directorate for Health). In this context, the Group highlighted its interventions and citizenship on the territory by implementing partnerships with educational organizations, for example their sponsorship of the University of French Polynesia and agreements with the Puna’auia Hotel School.

Finally, the Newrest Group Polynesian subsidiary reaffirmed its ambitions for the upcoming years by launching a new study on a new industrial production tool, synonymous with an investment of over 5M €. within the current economic context, this strong message was well received and appreciated by local public authorities, and will allow Newrest to build its future in a more serene manner in Polynesia.

O UR CO MMI T MEN TS

04 Food preparation ‒ QDVC Um Al Hawaya labour community, Qatar ◀

Whether with regard to its employees, clients or suppliers, Newrest is committed to excellence in essential areas: the taste and dietary balance of meals, the quality and safety of products and services, respect for human rights and working conditions, as well as the environment, and the fight against corruption.

Newrest also strictly complies with international standards and recommendations and takes all measures required to ensure conformity.

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N E W R E S T ' S CO M M I T M E N TS

TO I TS C L IEN TS A N D CO NS U M ER S Gastronomic meal prepared at Charles de Gaulle's unit (CDG) – Paris, France ▶

3,032

gastronomic meals served per week

954 chefs employed by the Group

1,350

cooking workshops in 2014∙15

In all of our kitchens and canteens, our employees are committed to offering consumers balanced, varied and tasty meals, while scrupulously complying with hygiene standards.

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A PA SSION FOR TA S TE At Newrest, meals are not just about eating. We make sure meals are delightful for the palate and a pleasant moment of sharing.

G ROUP ∙ TA STING PA NEL (1 ) We have created a panel in all of our business sectors to taste the dishes we plan to offer our consumers. In partnership with our clients, these taste tests help us evaluate the organoleptic properties of our dishes so we can adapt them to demand. The frequency of these taste tests depends on the business sector: for example, for our Remote sites, each meal is systematically tasted by a Chef and the Newrest team before being offered to employees.

PERU ∙ G A STRONOM Y DAYS (3) On a number of Remote sites, Newrest's team in Peru launched the weekly “Gastronomy Days” concept. These events allow Remote site staff to discover exotic as well as local dishes. A specific decor enhances the premises on each of these Days.

FR A NCE ∙ “BOCO” ON B OARD THE TG V (2)

ALGERIA ∙ THE HYDR A SCHOOL TASTE WORKSHOP (4)

A partnership with the “boco” collective has been entered into regarding catering for the SNCF trains.

Close to 12 Michelin-starred Chefs and Pastry Chefs prepare new recipes every four months, which are then offered on board TGV trains.

Training the palates of children is important to teach them good dietary habits at the earliest age. During the “Semaine du Goût” taste training week, children in the Petite Ecole d'Hydra (PEH) in Algiers participated in a taste-test workshop organised by the Newrest team in Algeria.

106

its own educational programme, the “Healthy Living” campaign, in February 2015. This nutritional awareness campaign is present on the 105 sites managed

by Newrest Wacasco and targets 1,600 employees who serve close to 5,000 meals per day.

HE ALTH Y NUTRITION Newrest establishes healthy meal plans in all of its locations in partnership with its clients.

On group catering and Remote site premises, we have implemented a nutrition campaign called “Marcel & Linda” for adults and “Madeleine” for children.

A poster campaign raises personnel's awareness on dietary balance, the importance of physical activity, the prevention of cardiovascular problems, etc. This communication often includes a nutritional assessment that is offered to consumers.

18,500

children trained in 2014/15 in the school catering sector

54

nutrition campaigns in 2014/15

86 %

of our restaurants decorated with “Marcel & Linda”

Newrest Wacasco's objective is to train as many people as possible to provide our employees and clients as well as the local population with healthy lifestyle rules. This campaign focuses on five key areas: choosing a sport, adopting a healthy diet, being more active, eating better and taking care of one's heart.

These topics are addressed through activities and contests, with prizes awarded at the end.

PERU ∙ “ V IDA S A LUDA BLE” C A MPA IGN To fight pathologies caused by poor diets and lack of physical activity (diabetes, high blood pressure, obesity and cardiovascular diseases), Newrest in Peru has just launched the “Vida Saludable” (“healthy lifestyle”) campaign. This programme calls on nutritional experts who organise personal nutritional consulting, and includes training and “health and nutrition” awareness campaigns, as well as recreational and sports activities. It is already in place in 20 corporate canteens and will be extended to other sites next year. The Peruvian subsidiary offers all consumers a “light menu” composed of vegetable cream soups, salads, fish or white meat and a fruit.

G ROUP ∙ SUPPORTING OUR CLIENTS WITH THEIR HE A LTH ORIENTED A PPROACHES In most of the catering or Remote site canteens, an optional dietetic menu is offered. The calorie breakdown of dishes is displayed so everyone can customise a menu best suited to their dietary needs.

On some sites, a nutritionist is available on a regular basis and offers anyone who wishes a personal programme that includes sports activities and lifestyle recommendations.

OM A N ∙ “HE ALTH Y LI V ING” C AMPAIGN (5) Aware of the importance of a healthy diet, Newrest Wacasco, our joint venture in Oman, implemented

TUNISI A ∙ “DIA BE TES PRE V ENTION” DAY On the World Diabetes Day, Newrest in Tunisia, in collaboration with the “Med Diet” association, organised a diabetes prevention day to raise the awareness of consumers regarding an illness that is

TO ITS CLIENTS AND CONSUMERS

widespread in the country: diabetes. On this occasion, the QHSE team facilitated a meeting to provide information, backed by communication materials. A special menu that scrupulously complied with recommendations regarding the consumption of sugar was also provided.

M A DAG A SC A R ∙ FOOD DI V ERSIFIC ATION PROJEC T IN TA NJONDROA (6) Newrest in Madagascar supports a food diversification project in a school in Tanjondroa in collaboration with the Aéropartage and B’SaN Asso associations. Since June 2015, this monthly programme has been offered to 294 children in collaboration with the Bien-être Santé Nutrition association. Its objective is to ensure meals include the right amount of proteins and calcium. The subsidiary in Madagascar participates by making a monthly donation of food products. The programme's objective is to use the existing structure, design projects that support the daily well-being and health of the children, fight hunger and promote better education.

OP TIM A L QUA LIT Y A ND H YGIENE CONDITIONS The Newrest Group applies very strict hygiene and quality rules, which is required in a stringent, demanding and sensitive sector: Catering.

Service quality is at the heart of employee concerns.

Every day, they endeavour to satisfy the needs and requirements of our clients.

Newrest has implemented a Quality Management System that includes very strict processes covering all of the stages of the preparation of a meal, from menu design to service. These processes apply to all of the Newrest Group teams. In fact, the objective of our Management System is to be integrated, which has allowed us to achieve other certifications when our clients so require for their markets.

SPA IN ∙ M A DELEINE AND SCHO OL C ATERING (7) Newrest in Spain is very involved in the dietary balance issue, in particular at kindergarten and primary school canteens. Discussions in small groups are organised for children with our nutritionists and cover subjects related to healthy diets. Educational but entertaining workshops focus on the “food pyramid”, and the Madeleine stuffed toy tells children food-related stories. The Spanish subsidiary also organises Zumba dance classes in schools to promote physical activity.

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NE WREST'S COMMITMENTS

61 %

of our turnover certified ISO 9001

42.5 %

of our turnover certified ISO 22000

▲ + 75 %

of certifications between 2013 and 2015

∙ IS O 9 0 01 Ce r tif ication In September 2015, for Hygiene and Quality, ISO 9001-certified activities represented 61% of our turnover for the entire Group and 99.4% of turnover in the rail sector.

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∙ ISO 2 20 0 0 Ce r tif ication In September 2015, in the food safety sector (ISO 22000 or BRC standard), certified activities represented 42.6% of our turnover.

∙ ISO 14 0 01 Ce r tif ication In September 2015, in the environmental management sector, ISO 14001-certified activities represented 14.3% of our turnover.

A NGOL A ∙ CONSUMER S ATISFAC TION FOLLOW- UP ON THE L A NCELOT

CUSTOMER SATISFAC TION Newrest implemented a number of tools to identify the level of satisfaction of its clients.

For Inflight catering, the Group created a common QMS database for all of the businesses, which includes all incidents of which the Group has been informed. However, when we are in direct contact with the client, such as in canteens or corporate cafeterias and on Remote sites, areas of improvement are identified through customised satisfaction surveys.

80 %

of client audits score over 90%

Our Austrian Newrest Wagons-Lits subsidiary, formerly “Compagnie des Wagons-Lits”, has been serving its main client for over 85 years: the Austrian rail company ÖBB. This is an optimal collaboration, based on trust. These positive commercial results were rewarded this year in the form of an evaluation of our service: “ghost travellers” now assess the quality of our services - cleaning, service quality, meal quality, information for travellers, etc. - every month. The result is extremely encouraging and the incident rate is 0.7%.

83 %

Contract renewal rate in countries in which we have been present for over three years

AUS TRI A ∙ COLL A BOR ATION FOR THE PA ST 8 5 Y E ARS WITH ÖBB (8)

On the Lancelot barge hotel, satisfaction surveys are regularly conducted via samples and complaint forms. In 2014/15, the consumer satisfaction rate reached 90%, an increase of 6% over the prior year.

SPA IN ∙ NE WREST ELEC TED “BEST EUROPE C ATERER 2014”

BY QATA R A IRWAYS The production unit of Newrest in Spain, which is located in Madrid, was named the “Best Europe Caterer 2014” by Qatar Airways. Overall, the contract renewal rate for Newrest in Spain with its clients is 95%.

OM A N ∙ IMPLEMENTATION OF A “H A PP Y OR NOT” S ATISFAC TION SUR V E Y In all of its canteens in Oman, Newrest Wacasco has installed a computer terminal to evaluate the level of satisfaction of consumers with the quality of their meals. They can provide their opinion by indicating whether they are happy or not.

TUNISI A ∙ 97% OF CONTR AC TS A RE RENE WA L S Tunisia has implemented a very sophisticated system to exchange information with its clients based on satisfaction surveys conducted every six months and regular telephone conversations. This initiative has been successful: the contract renewal rate for Newrest in Tunisia is 97%. For example, its oldest client is the Club Méditerranée, which it has served for 10 years.

∙ The “ W inf light ” tool For over eight years, in-house software has been developed for our inflight catering business. This software allows for the design of menus for each airline, with the printing of related recipes. Requirements can be updated to reflect the seat occupancy rate of the flights. Inventory and the cost of food products can be managed and special dietary requests of passengers (gluten-free, vegetarian, etc.) can be fulfilled.

∙ The “ W inre s t ” tool Winrest, formerly Unirest, is a software package specific to group and Remote site catering, and allows Newrest's teams to better manage their business.

Detailed menu plans can be created to meet the specific needs of each client, as well as recipes with a list of the food products required. Food product inventory is optimally managed, and the nutritional impact of each dish is described. Since its launch in 2012, this software has allowed for a significant optimisation of the food product inventory. Winrest is currently used in 60% of our countries that provide group and/or Remote site catering, and it should be deployed in 80% of these countries next year.

OPER ATIONAL OPTIMI SATION A N D I T TO O L S A LONG -TERM VISION Thanks to its constant search for innovative solutions to optimise its operations and improve its responsiveness, Newrest has acquired specific expertise in catering.

By reducing its costs in the procurement chain and by realising internal synergies, the Group can offer its clients the best service at the best price. With this in mind, we have acquired specific IT tools to allow our employees to better manage their tasks on a daily basis: Winflight and Winrest software.

2,482

training hours on Winflight and Winrest in 2014∙15

85 %

of countries involved in the Inflight sector use Winflight

Newrest's strategic choices are based on an overall vision that includes calculated risk-taking, and favours solid opportunities and long-term investments.

To promote this long-term vision of the business among management, Newrest constantly ensures transparency and equity.

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N E W R E S T ' S CO M M I T M E N TS

TO I TS EM PLOY EE S Employees receiving certificates ‒ QDVC Um Al Hawaya labour community, Qatar ▶

800,000 training hours taken in 2014∙15

33 %

of employees are 25 to 34 years of age

415

youth hired on apprenticeship programmes in 2014∙15

Newrest is very vigilant in terms of human resources to ensure it provides quality services to its clients. The optimal management of employees and skill development for all personnel are the cornerstone of our strategy. The Group takes the position that respect for working conditions is a fundamental value.

It also undertakes to motivate its teams and promote the continuous training of personnel.

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EQUAL OPPORTUNIT Y & ANTI-DISCRIMINATION IN EMPLOY MENT Newrest is committed to ensuring all employees are treated equally. In accordance with its recruitment policy, it is attentive to the experience and dynamism of applicants while guaranteeing equal opportunity for everyone.

AUS TRI A ∙ COLL A BOR ATION WITH THE “LEBENSHILFE WIEN” A S SOCIATION Newrest Wagons-Lits in Austria has worked with the “Lebenshilfe Wien” organisation, which offers paid work to the disabled, for a number of years. A group of approximately 10 attend our Austrian subsidiary at its premises in Matzleinsdorfer Platz to work for one day a week. They complete packaging tasks for night trains. This programme allows disabled individuals to find paid work and be involved in a normal work activity in a business environment in contact with able individuals.

C A N A DA ∙ COLL A BOR ATION WITH “CIWA” Our production unit in Calgary has worked for a number of years with “CIWA” (Calgary Immigrant Women's Association). This association helps individuals, in particular women, who have immigrated to Canada, do not speak English and have difficulty finding a job. The association trains these women, who are then found a permanent job in our production unit. Until 2015, our Canadian subsidiary was able to hire around 10 women, three of which remained for lengthy periods.

A part of Santiago's unit team ‒ Chili ◀

SPAIN ∙ “GENDER EQUALIT Y” PL AN Since 2011, Newrest in Spain has been highly involved in issues related to gender equality. Our subsidiary was the first company in the catering sector in Spain to sign the “Plano de igualdad de oportunidades entre hombres y mujeres”. In this framework, Newrest in Spain also works with local associations such as Cáritas Empleo Madrid and Federación de Mujeres Progresístas, which focus on access to employment for women who are excluded and beaten. This collaboration resulted in the hiring of three women in the Madrid centre. Next year, our Spanish subsidiary's objective is to achieve the “Distintivo de Igualdad” gender equality certification awarded by the Spanish government.

OMAN ∙ SCHOL ARSHIPS Our Newrest Wacasco joint venture signed an agreement with the Ministry of Higher Education of Oman in September 2015 with a view to financing the studies of 44 students at the Waljat College of Applied Sciences. Scholarship beneficiaries were selected by a unified admission centre. A three-year programme will allow the beneficiaries to graduate with diverse university degrees.

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OPTIMAL WORKING CO N D I T I O N S & O CCU PAT I O N A L S A F E T Y

site, supervised and monitored by Newrest in Lima.

Five-minute daily meetings take place on site, and our Peruvian subsidiary works hand in hand with our clients on their safety campaigns.

The Group is committed to strict compliance with labour laws and to offering its employees a comfortable, healthy and safe work environment.

W E L L- B E I N G O F E M PLOY E E S

÷ 5

of number of occupational accidents between 2005 and 2015

26 ‰

Occupational accident rate for 2014∙15

OM A N ∙ THE SIX TH ACCIDENT- FREE Y E A R AT PE TRO G A S In November 2014, Newrest Wacasco celebrated its sixth year free of incidents leading to medical leave on the Petrogas LLC site. On its Sahmah site, it organised an awareness-raising day on the topic of occupational health and safety.

PERU ∙ 2,70 0,0 0 0 ACCIDENT- FREE HOURS (1) In 2014/15, Newrest in Peru celebrated three major events related to safety at work: 2,000,000 accident-free hours at Hudbay; 500,000 accident-free hours at Goldfields and 200,000 accident-free hours at Tintaya/Antapaccay. These positive results can be attributed to the highly effective QHSE structure on

Newrest is very attentive to the health and well-being of its employees the Group takes all possible measures to offer the best access possible to healthcare services, in particular in the developing countries in which it operates.

Through small and more extensive actions, Newrest is also committed to making sure the daily work environment is more pleasant and comfortable for all of its employees.

GREECE ∙ C A SH A DVA NCES FOR EMERGENCIES In a difficult economic environment, Newrest in Greece offers its employees cash advances for emergencies, in particular when health problems occur. This programme provides for a maximum advance of two months' salary, which must be reimbursed within a time-frame defined at the time the advance is made. Since this system has been in place, 13 employees have taken advantage of this opportunity.

ME XICO ∙ PERSONA L NUTRITION CONSULTING In this country, the rate of obesity is close to 30% and 70% of the population is overweight. Hence, nutrition is a serious problem. In 2014/15, a full medical exam focused on nutrition and obesity was launched for all employees. After the exam, a personal nutrition plan was designed to allow everyone to take preventive and corrective measures.

specific to aviation (aviation safety, safety procedures for aircraft access, airplane landing for the inflight handling business, etc.), and topics specific to Remote sites (HUET and BOSIET for offshore oil sites, survival at sea, etc.). This training is provided either externally or internally by our HSE managers, site managers or chef trainers.

Increase of

+470 %

in the number of training hours as compared to 2013∙14

More than

20,000

toolbox training sessions for more than 5,000 employees

OM A N ∙ BRE A ST C A NCER SCREENING (2)

MOROCCO ∙ 5 39,136 TR A INING HOURS

Our joint venture in Oman, Newrest Wacasco, partnered with a hospital in support of an awareness campaign to encourage its workers to undergo breast cancer screening. Early detection can save lives, as we all know, with a recovery rate of up to 98%.

Newrest in Morocco provided a total of 539,136 training hours to its 624 employees, regardless of their position within the company. The training covered catering, human resources, safety and management.

B OLI V I A ∙ PAY MENT OF SCHO OL SUPPLIES In Bolivia, Newrest partially pays for the school supplies of the children of its employees who work at the Minera San Cristobal. This grant allows them to purchase pens, notebooks and other required supplies. In 2014/15, close to 230 employees were able to take advantage of this measure.

QATA R ∙ TR A INING OF 10 0 % OF NE WREST GULF EMPLOY EES (3) Newrest Gulf, our joint venture in Qatar, trained all of its 224 employees for a total of 2,862 training hours. The training covered hygiene, HACCP, safety and customer relations. Also, 365 toolbox sessions were organised.

EM PLOY E E T R A I N I N G In a market in constant change, skills must be upgraded. Newrest is highly committed to the professionalism of its employees and takes every measure required to offer appropriate training regardless of the employee's position.

This training relates to general subjects (languages, computers, team management, etc.); topics specific to catering trades (food safety, HACCP, kitchen production, food allergies, traceability, etc.); subjects

GH A N A ∙ 6,0 0 0 TR A INING HOURS Newrest in Ghana provided 6,000 training hours to all of its employees. The most important subjects

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TO ITS EMPLOYEES

NE WREST'S COMMITMENTS

114

were safety, HACCP, driving and halal cuisine.

The Ghanaian subsidiary trains 10 employees every week via toolbox training: in 2014/15, close to 50 training sessions took place.

A NGOL A ∙ TR AINING OF ALL EMPLOY EES In 2014/15, every Newrest employee in Angola took training. In total, close to 3,800 training hours and 6,570 toolbox sessions were provided to 500 employees. The majority of the topics related to food safety, occupational safety, hygiene and HACCP.

HE A DQUA R TERS ∙ TR A INING OF 6 0 % OF THE HE AD OFFICE EMPLOY EES 60% of Newrest's head office employees in Toulouse took part in training sessions in 2014/15. For the most part, this training covered foreign languages, computer tools, finance, and quality and hygiene. To this end, the Group allocated 1.37% of its budget (the legal minimum being 0.9%).

SPORTS-BASED M OT I VAT I O N All sorts of different sports events were organised throughout the Group in 2014/15.

In fact, Newrest encourages its employees to participate in a sports activity on a regular basis, as well as in sports events. Sports, which are beneficial for both the body and mind, boost personal energy and favour a team spirit.

G ROUP ∙ PA RTNERSHIP WITH FABRICE AMEDEO (4) This year, the Group renewed its partnership with the skipper Fabrice Amedeo. Fabrice Amedeo sails an IMOCA bearing the “Newrest-Matmut” names.

In particular, he participated in the Transat Jacques Vabre race in October 2015. The race was passionately followed by a large number of our employees.

Many messages of encouragement from Le Havre to Brazil were sent to Fabrice Amedeo.

S W ITZERL A ND ∙ PA RTICIPATION IN THE CORPOR ATE G A MES (5) In July 2015, many employees who work at Newrest Canonica, our joint venture in Switzerland, participated in the Corporate Games at Annecy-le-Vieux in France. The competition, which has brought together employees from private companies, territorial authorities and institutions for the past 25 years, consisted in three days of sporting challenges. Our Swiss team participated with a great deal of enthusiasm.

OM A N ∙ NE WREST WAC A SCO'S CRICKE T TE A M (6) A number of Newrest Wacasco employees created a team to play cricket. The team trains regularly and performs well at competitions. In June 2015, our team came in second at the cricket tournament organised each year by the “Oman Cricket Council”.

TO ITS EMPLOYEES

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G H A N A ∙ PA RTICIPATION IN THE BUSINES S G AMES OLY MPIC S (7) In September 2015, a number of Newrest's employees in Ghana participated in the fourth edition of the Business Games Olympics in Accra. The Ghanaian subsidiary came in second out of the 40 companies that participated. Newrest Ghana's employees won a gold medal in swimming.

THE NE THERL A NDS ∙ A BOWLING TE AM & T WO VOLLE Y B ALL TE AMS (8) Newrest's and Airshop's employees in the Netherlands created a bowling team and two volleyball teams. The bowling team meets once per month and trains for the Business League in which four of our best players represent the Group. The volleyball teams compete in an inter-company tournament in April and October.

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TO I TS PA R T N ER S

Regardless of which country is involved, relations with the Newrest Group's partners must be fully transparent and based on honesty. This requirement applies in particular to our suppliers: unfair competition is not allowed.

FIGHT AGAINST CO R R U P T I O N

hygiene standards. All of these rules apply to every country, regardless of whether corruption is common or not.

The Group formally prohibits its employees from making gifts or offering cash to its clients' representatives or officials as incentives for the signing of contracts.

Newrest has implemented strict procedures to identify persons at risk (purchasing managers, commercial directors) who are monitored by national directors, zone directors and through internal audits that verify the financial statements of each country every month as well as procedures when they visit on a regular basis. Finally, an overall anti-corruption policy has been drafted and translated into a number of languages.

Additionally, Newrest personnel refuse any gift offered by suppliers or partners that are approved or seeking approval in order to close a deal or lower prices. The Group also prohibits all forms of pressure or bribery towards sanitation inspection personnel in order to have them ignore potential breaches of

ME XICO ∙ STRONGER A NTI - CORRUPTION PROCEDURES Despite the high level of corruption in the country, Newrest's operations in Cancun are transparent: no member of our personnel has given in to untoward propositions from suppliers or administrative authorities.

SOUTH A FRIC A ∙ IMPLEMENTATION OF AN “OPEN DOOR ” POLIC Y A transparency, anti-favouritism policy has been implemented internally. Our dnata Newrest joint venture maintains this transparency thanks to an open door policy that allows everyone to express their fears or report practices that do not comply with the anti-corruption policy.

S W ITZERL A ND ∙ B AN ON GIF TS & IN V ITATIONS No year-end gift is accepted from any supplier and invitations to any event whatsoever are politely declined.

FA I R CO M PE T I T I O N Foul play is unacceptable in any invitation to tender that Newrest Group responds to.

Contracts can only be won during normal tender processes involving various participants. Dumping practices regarding labour and prices do not comply with market rules and are not tolerated. Prices are studied independently. No agreements are made with the competition. Offers proposed for all contracts are evaluated jointly by country, zone and sales managers in the business corresponding to the invitation to tender. The process of answering and awarding contracts is also closely monitored by the matrix organisation.

freshness, transport system and a continuous cold chain. Supplier audit procedures and questionnaires have been established by Newrest and are used in all countries. During invitation to tender processes, each country must receive a price quote from at least three different suppliers and the process must be deployed at least once per year for all the families of products purchased. Obviously, contracts are always drafted locally to ensure there is a legal tie between Newrest's entities and the suppliers.

A NGOL A ∙ IMPLEMENTATION OF A PURCH A SING PRO CES S A new team took over the management of the purchasing department this year. Its primary objective was to implement a system to better control the purchasing process. Suppliers are now invited to the office and a questionnaire is filled out to better identify their capabilities and reliability. During negotiations on potential discounts, a number of management team members are present. Then all of the information is set out in the contract drafted by the legal department.

CROATI A ∙ CHOICE OF SUPPLI ERS B A SED ON QUA LIT Y Newrest in Croatia selects its suppliers and structures its client/supplier relations very carefully.

Negotiations cover not only price and quality but also compliance with QHSE rules, the supplier's reputation and its honesty. Our team has always strictly complied with the principles adopted despite various attempts at bribery. All fraudulent offers have been refused and management alerted immediately.

FA I R S U P P L I E R S E L EC T I O N

PHILIPPINE S ∙ PA RTICIPATION IN THE A NNUA L “INTEGRIT Y SUMMIT”

Suppliers are selected by external audit. To be approved, suppliers must imperatively comply with certain rules.

In September 2014, Newrest SOS participated in the annual “Integrity Summit” as an innovative company in terms of raising awareness on corruption.

The event was organised by the Business Centre of Makati. Many representatives of the public and private sectors, as well as youth representatives were present.

The only criteria on which we base our selection are quality of products, inventory management,

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N E W R E S T ' S CO M M I T M E N TS

TO I TS S O C I A L EN V IR O N M EN T Children in orphanage of “Family Outreach” Organization – Accra, Ghana ▶

4,789

individuals have benefited from Newrest's assistance (direct actions / donations)

320

employees involved in social actions

87 %

of purchases in the Group are made locally

Newrest is committed to the social environment of every country in which it is present. In light of our respect for the principles of the Universal Declaration of Human Rights, we support NGO activities in countries where we work or undertake our own actions.

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LO C A L PROCUREMENT & CO L L A B O R AT I O N W I T H CO O PE R AT I V E S To support local products, Newrest has entered into partnerships with farm cooperatives throughout the world.

These purchases may represent up to 12% of the amount of local purchases, as is the case, for example, in Morocco. Most of the products purchased from the cooperatives are fresh produce such as fruits and vegetables, dairy products and eggs.

In 45% of our countries

Up to

100 %

12 %

of purchases are made locally

of local purchases come from cooperatives

C A MEROUN ∙ COLL A BOR ATION WITH LO C AL PRODUCERS & SM ALL CO OPER ATI V ES To support local manufacturing and farm production, Newrest in Cameroon has increased its partnerships with local suppliers to purchase all of its products locally. For example, 100% of fruit and vegetable purchases made by the subsidiary in Cameroon come from small producers or cooperatives.

PERU ∙ LO C AL PURCHA SES AT HUAG AYO C (1) To entrench its local involvement in the area of the Huagayoc mine, Newrest in Peru decided to work with families in the community for all of its purchases. These families, who resell but are not producers, are organised in a “purchase-sale” structure.

Each product category (meat, dry products, fruits and vegetables) is supplied by a different family, which allows us to support as many families as we can. We also work with the community for our vehicle leases of pick-up trucks and lorries.

MOROCCO ∙ COLL A BOR ATION WITH THE “COPAG” COOPER ATI V E Newrest in Morocco works with COPAG, an agricultural cooperative that includes 39 farmers in the Taroudant region in the central part of the country.

Today, our Moroccan subsidiary purchases close to 12% of its products from this cooperative: milk, dairy products and fruit juices.

I N V O LV E M E N T I N LO C A L CO M M U N I T I E S Wherever the Newrest Group is present, it is involved in the life of local communities and neighbouring towns.

We hire our personnel close to our work sites, provide training and enter into partnerships to improve daily life in these communities.

85 %

of our countries hire more than 95% of their personnel within the local population

23

actions were conducted in 2014/15 in local communities

C A MERO ON ∙ CRE ATION OF A WELL In Cameroon, a well was dug on the land surrounding Newrest's warehouse in October 2014. The water is used in particular for the warehouse's requirements.

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for the communities. Located in Hudbay close to the Minera Constancia, this centre provides various theoretical and practical courses on cooking, food hygiene, and cleaning and maintenance, which are taught in part by Newrest employees. Our Peruvian subsidiary also introduces families in the Huaylla Huaylla community to the nutritional and medicinal benefits of the vegetables grown in their gardens.

Next year, the subsidiary in Cameroon intends to distribute this water to the communities and families who live close to the New Bell neighbourhood of Douala.

B OLI V I A ∙ COMMITMENT TO COMMUNITIES CLOSE TO MINER A S AN CRISTOB AL (2) Newrest in Bolivia is involved in local events organised by the three communities close to the San Cristobal mine. Via its foundation, our Bolivian subsidiary participates by donating food to the communities or purchasing gifts for their draws.

PERU ∙ TR A INING CENTRE AT MINER A CONSTANCIA In February 2015, Newrest in Peru launched training at the Training Centre for Sustainable Development

SOCIAL RESPONSIBILIT Y In the countries in which it is present, the Newrest Group participates in projects and social actions to which it is committed.

FR A NCE ∙ SUPPORT FOR THE TELE THON In December 2014, in support of the Telethon, a vast marathon was held to collect funds for research on rare diseases. Newrest Private participated in making a 75-metre long sausage roll. The gigantic sausage was sliced and sold in the streets of Versailles.

The organisers turned over all of the proceeds to the Telethon held in support of the Association Française contre les Myopathies.

M A DAG A SC A R ∙ COLL A BOR A TION WITH THE CI V IL DEFENCE UNIT OF TA M ATAV E In September 2015, Newrest in Madagascar signed a donation agreement in favour of the Civil Defence unit of Tamatave. By contributing equipment, the Group is supporting the construction of a new camp for this army corps whose primary role is to provide aid to the population. Construction work has started and the camp should open in approximately six months.

S W ITZERL A ND ∙ PA RTICIPATION IN “PA DDLE FOR C A NCER ” In August 2015, our joint venture in Switzerland, Newrest Canonica, partnered with “Paddle for Cancer”, an association that organises a sailing class

once per year, the profits of which are donated to the ESCA association (English Speaking Cancer Association) in Geneva. Newrest Canonica participated in this event by providing 50 lunch boxes to participants.

S O C I A L AC T I O NS I N FAV O U R OF CHILDREN In recent years, the Group has committed to the reduction of its budget for press ads and paid advertising, and to transfer these savings to social actions, in particular involving children.

TO ITS SOCIAL ENVIRONMENT

ME XICO ∙ COLL A BOR ATION WITH “DR . SONRIS A S” IN C A NCUN (4) Newrest in Mexico works with the local Dr. Sonrisas (“Doctor Smiles”) association. This charitable project consists in working with children in the terminal stages of chronic diseases. The team endeavours to alleviate their suffering with hope and happiness, in accordance with the association's slogan: “Our first responsibility is to be happy and then to make others happy.” The entire Newrest team participated in the project by preparing cakes for the 300 children in the Alamo school in Cancun.

M A DAG A SC A R ∙ “HE AR THE WORLD” PROJEC T IN AMB ATOV Y (3) Newrest in Madagascar has partnered with the “Hear the World” association in order to assist the children of Madagascar. Two surgeons and two anaesthetists who practise in Toulouse, France provide assistance and use their expertise to treat children and support the medical teams at the hospitals in Morafeno and Analakininina. In November 2015, the four physicians visited Tamatave. They examined around 30 children and operated on three. They also shared their expertise by training medical-surgical teams and provided medical equipment. Newrest in Madagascar supported this mission by making available logistical, financial and human resources.

S OUTH A FRIC A ∙ COLL A BOR A TION WITH “OLI V ER ’S HOUSE” IN JOH A NNESBURG (5) Our joint venture, dnata Newrest, worked with Oliver's House, an association that helps poor children and orphans in the slums of Johannesburg. In December 2014, the Association organised a graduation ceremony for children in its kindergarten, followed by a Christmas party. The dnata Newrest team participated in these celebrations by providing food, toys and clothing for the children. An interactive digital board was also donated to the school to improve its teaching environment.

C A MERO ON ∙ INTRODUC TION TO RUGBY FOR ORPH A NS In collaboration with the “Foyer Saint-Nicodème” that cares for orphans, Newrest in Cameroon organised an introduction to rugby day. Sixty orphans between the ages of five and twelve were able to participate in this sports event.

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NE WREST'S COMMITMENTS

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Meal distribution at the orphanage of “Family Outreach” Organization – Accra, Ghana ▶

B OLI V I A ∙ BRE A KFA ST FOR SCHOOLCHILDREN AT MINER A S AN CRISTOB AL Through its foundation, our Bolivian subsidiary provides breakfast every Monday to children who attend the school close to Minera San Cristobal. A hundred children benefit from this breakfast every week.

TO ITS SOCIAL ENVIRONMENT

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N E W R E S T ' S CO M M I T M E N TS

TO T H E PL A N E T

Servicing of solar panels on Madrid's unit roof ‒ Spain ◀

23,500

meals prepared every day with organic products

6

countries certified ISO 14001

1/5

of our subsidiaries decreased their waste in 2014∙15

An ecological balance is the one and only guarantee of achieving harmony between the needs of mankind and nature.

Newrest, aware of the importance of sustainable development, has adopted essential environmental values. The use of local seasonal products, waste treatment and reduction, and the “Zero Paper” policy are just a few examples of the Group's objectives.

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I S O 1 4 0 01 C E R T I F I C AT I O N POLICY In 2014, the Newrest Group launched an extensive ISO 14001 certification campaign for its units. ISO 14001 certification covers environmental management.

It is based on the principle of continuous improvement in environmental performance by managing the impact of the company's business. In the framework of this certification, today, 6 countries have been certified ISO 14001:2004: Austria, Bolivia, Greece, Cyprus, Switzerland and Tunisia.

farmed without pesticides, Newrest supports sustainable, responsible agriculture.

23,500 meals prepared ever y day with organic products

44 %

of our countries use pesticide-free products

CONGO ∙ PURCH A SES FROM THE “AGRO - CONTAC T” POULTRY COOPER ATI V E For the past two years, Newrest Congo has been procuring eggs from Wilfried Koutiki's (or Willy's) poultry project. This rural development engineer, who studied at the university in Brazzaville, manages the Agro-contact cooperative in Tchibamba. Our Congolese subsidiary is pleased to support local resources by purchasing all of the eggs laid in Willy's cooperative, as well as all of his vegetable production.

ME XICO ∙ SUSTA INA BLE FISHING In Mexico, 24% of Newrest's fish purchases come from sustainable fishing. The fish are farmed instead of being fished at sea. It should also be noted that 24% of the fish bought by Newrest Servair in Belgium is MSC-certified.

S W ITZERL A ND ∙ ME A L S PREPA RED WITH ORG A NIC PRODUC TS

LO C A L PR O CU R EMENT & ORGANIC PRODUCTS To minimise its environmental impact, a major policy of the Group targets the management of its purchases: by reducing transport and favouring produce

In the framework of its catering activities, Newrest Canonica, our joint venture which has been accredited as “Fourchette Verte” and “Région Terre d'Avenir”, offers special organic meals on most of its sites. These balanced, organic meals are backed by awareness campaigns and quizzes organised to introduce consumers to local products. It should be noted that 30% of purchases are made in cantons in which we operate.

SPA IN ∙ ORG A NIC PRODUC TS FOR SCHO OL C ATERING In Palma de Mallorca, Newrest in Spain has included special menus in its school catering offer: 10% of the food products purchased are sourced from certified

organic suppliers accredited by the “Consell Balear d'Agricultura Ecologica”. The Spanish subsidiary purchases pasta and rice from these suppliers in particular, but also fruits and vegetables when they are in season.

objects. When they are no longer used, they are donated to schools, NGOs or associations.

W A S T E R EC YC L I N G & REDUCTION POLICY A major endeavour to minimise our environmental footprint is the reduction and recycling of waste.

On all of our sites and in all of our production units, a waste-sorting process has been systematically created to reuse a large part of our waste, such as cardboard, glass, paper, electronic devices, green waste, etc.

65 %

of our countries sort their waste

85 %

of our units and sites have “Fight against food waste” communication materials

GROUP ∙ FIGHT AG A INST FO OD WA STE (1) An awareness campaign on waste, particularly food waste, was launched on a broad number of sites and units the use of Winflight software for inflight catering and Winrest software for group and Remote site catering allows many countries to optimally adjust their production to consumption. Winflight provides real-time forecasts of meals to be produced, leading to optimal use of raw materials.

GREECE & C Y PRUS ∙ RECOV ERY OF COOKING OIL TO PRODUCE BIODIESEL Our subsidiaries in Greece and Cyprus have found another use for their cooking oil. The oil is collected once per month by local accredited providers who take it to plants to be transformed into biodiesel. In 2014/15, in Greece, 1,670 kg of oil were recycled and, in Cyprus, 240 kg.

S W ITZERL A ND ∙ WA STE-SORTING A F TER FLIGHTS In the framework of the application of the ISO 14001 standards, Newrest Canonica in Switzerland organised waste sorting for return flights as part of its inflight business: dirty trolleys are recovered and the waste is sorted. Reusable and recyclable matter is sorted and food waste is taken to a pig-raising industrialist. The joint venture was able to recycle 40 tonnes of waste in 2014.

PHILIPPINE S ∙ REPAIR & REUSE

FRENCH P OLY NE SI A ∙ WINNER OF THE “SELEC TI V E WA STE SORTING PRIZE” FOR 2014

Instead of disposing of objects and machines, Newrest SOS in the Philippines attempts to repair them to give these objects as long a lifespan as possible: a workshop in the company manages the repairs and refurbishing of equipment. Objects such as chairs, tables, fans and water fountains are given a second life. When an object or machine can no longer be repaired, the parts are used to repair other

Newrest's Polynesian subsidiary, specifically the production unit in Faa'a, won the Selective Waste Sorting Prize for 2014. This prize is awarded to the company that launches the most waste management initiatives. Newrest in Polynesia recycles a large part of its waste by sorting cardboard, glass, steel and aluminium cans, and plastic materials, and then transporting them to local sorting units.

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Activit y Repor t 2014 ∙ 1 5 ▶ 04 Group Commitment s

TO THE PL ANET

NE WREST'S COMMITMENTS

126

“Recycled Christmas Decorations Competition” at Newrest Peru's headquarters in Lima

HE ADQUARTERS ∙ PRINTING ON 70 % REC YCLED PA PER Since 2012, all of the Head Office's printing uses non-toxic, 100% biodegradable ink. The paper used is 70% recycled and 100% recyclable. The use of this paper to print this business report saved 396 kg of CO2. Next year, our estimates are even more encouraging: we plan on reducing our quantities of printed materials by 15% by acquiring screens and organising awareness-raising sessions for our employees and partners. We estimate approximate savings of 101 tonnes of CO2.

▶

AUSTRIA ∙ USE OF REC YCL A BLE PACK AGING ON BOA RD THE ÖBB For services on board the ÖBB trains, our Austrian subsidiary has chosen 100% recycled and 100% recyclable coffee and tea cups and 70% recycled and 100% recyclable bags. Garbage bags are also made of biodegradable materials. Organic plastic glasses are reusable and the packaging of cutlery is biodegradable. This initiative has allowed our subsidiary to save 20 tonnes of waste every year.

FR ANCE ∙ INSTA LL ATION OF DIGITA L PL ATFORMS Newrest Wagons-Lits in France has put a number of IT tools in place to reduce the use of paper. A blog called “SAB Ensemble” was created to communicate with all of the subsidiary's 1,500 employees. Similarly, absences have been tracked since 2015 by a digital platform. New printers were purchased that provide more optimal use of ink.

L E S S U S E O F PA PE R

E N E R G Y CO N S U M P TION REDUCTION

Since the Group was founded, Newrest has committed to a paper reduction policy.

The Group's sustainable development plan sets out strict rules in terms of the reduction of electricity and fuel.

We favour digital communication while using - for paper copies that we cannot avoid - eco-friendly materials. The basic rule in this case is black and white printing on both sides of a sheet.

In prior years, simple initiatives allowed us to reduce our ecological footprint: systematic closing of doors and turning off lights, computers, heating and air conditioning.

TO THE PL ANET

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Activit y Repor t 2014 ∙ 1 5 ▶ 04 Group Commitment s

NE WREST'S COMMITMENTS

FRENCH POLYNESIA ∙ INSTA LL ATION OF A SOL AR- POWERED WATER HE ATER Our Polynesian subsidiary significantly reduced its energy consumption: last year, gas consumed to produce hot water declined by 100% in the Faa'a production unit once a solar-powered water heater was installed. Starting this year, all units have been systematically equipped with LED lighting.

SWITZERL AND ∙ C ARBON FOOTPRINT REDUC TION Since the beginning of 2015, our Swiss joint venture, Newrest Canonica, systematically uses an ecofriendly courier service for its deliveries in Geneva: a taxi-bike delivers administrative papers or files within the city, leaving a minimal carbon footprint.

Also, Newrest Canonica renewed its fleet of vehicles and purchased trucks that consume and pollute less.

The Swiss joint venture thereby reduced its fuel consumption by 15% compared to the previous year.

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V IS I T O U R W EB S I T E Newrest Activity Report 2014/ 1 5 is available on our website:

www.newrest.eu

PH OTO CRED I TS Frédéric Maligne for Newrest, Newrest Algeria, Newrest Angola, Newrest Bolivia, Newrest Cameroon, Newrest Canada, Alexandre Badot for Newrest Canonica, Newrest Canonica in Switzerland, CGA Newrest, Newrest Chile, Newrest Congo, Newre s t Cos ta Rica, Newre s t Croatia, Newre s t Cypr us , Stephan from Orangeline de Pretoria for dnata Newrest, dnata Newrest, Newrest French Polynesia, Newrest Gabon, Newrest Ghana, Kopalas Kyriakos from NLS Studio for Newrest Greece, Newrest Gulf, Rija Randrianasolo for Newrest Madagascar, Newrest Madagascar, Luis Javier Sandoval for Newrest Mexico, Newrest Mexico, Marc Giraud for Newrest Morocco, Newrest Morocco, Newrest Netherlands, Newrest New Caledonia, Newrest Niger, Newrest Peru, Mario Jorge for Newrest Wagons-Lits in Por tugal, Newrest Private, Corine Tellier for Newrest in Reunion Island, Newrest Saudia Airlines Catering, Newrest Ser vair in Belgium, Newrest Ser vair in Canada, Newrest Ser vair in the United Kingdom, Newrest SOS, Newrest Spain, Newrest Tunisia, Newrest UIS, Newrest Wacasco, Muneeb Khan for Newrest Wacasco, ÖBB-PV AG for Newrest Wagons-Lits in Austria, Studio Vezelay for Newrest Wagons-Lits in France, Xanthe Cooke for Newrest Zambia, Fotolia.

Newrest/Matmut's boat photos: Repor tersdularge.com and Transat Jacques Vabre ‒ transat-jacques-vabre.com.

Cover: Hernan Hernandez, Newrest chef at Paris Orly unit (ORY). Portrait by Frédéric Maligne.

Creation: Newrest Printing: Reprint Toulouse This activity report was printed on 70% recycled and 100% recyclable paper.

Used ink is not toxic and 100% degradable.

Airplane loading ‒ Rolland Garros airport (RUN), Réunion Island ◀

E X ECU T I V E M A N AG EMEN T O F F I CE 61, boulevard Lazare Carnot 31000 Toulouse, France Phone: +33 (0)5 62 89 39 88 ∙ Fax: +33 (0)5 62 89 39 70

CO MMUNI C AT I O N Dominique PIL ATTE ∙ Communication Director 61, boulevard Lazare Carnot ‒ 31000 Toulouse, France

Phone: +33 (0)5 62 89 39 79 ∙ Fax: +33 (0)5 62 89 39 70

IN V ES TO RS REL AT I O NS Matthieu JEANDEL ∙ Vice President Finances 61, boulevard Lazare Carnot ‒ 31000 Toulouse, France

Phone: +33 (0)5 62 89 39 87 ∙ Fax: +33 (0)5 62 89 39 70

www.newrest.eu