Vilmorin & Cie - Annual report 2017-2018

PRESENTATION of Vilmorin & Cie 1 ANNUAL REPORT Vilmorin & Cie 36 2017-2018 1.5.2. Close proximity to its markets 1.5.2.1. Thanks to its organization model Vilmorin & Cie has chosen to organize each of its activities around Business Units, in order to focus on proximity to its multiple markets. This organization model, specific to Vilmorin & Cie, is a great strength. It guarantees very close proximity to its customers, excellent knowledge of its markets, which are highly segmented both in terms of products and territories, along with a real capacity to anticipate and to react. The ten Business Units of Vilmorin & Cie each have a well-adapted development strategy, defined in accordance with a global crop/ geographical zone architecture; and they each have their own dedicated organization. Cross-cutting functions, such as the scientific strategy, the external growth policy and finance are all centralized. The organization diagram is presented on page 22. 1.5.2.2. Thanks to its reference shareholder: Limagrain Through its reference shareholder Limagrain, Vilmorin & Cie benefits from close proximity with the world of agriculture. Indeed, Limagrain is an international agricultural cooperative group, founded and managed by French farmers. Limagrain’s mission is entirely devoted to progress in agriculture. This knowledge of farmers and different forms of agriculture throughout the world represents a solid and original performance lever for Vilmorin & Cie in the seed sector. 1.5.3. A long-term vision of its development Vilmorin & Cie is driven by a long-term vision of its development, corresponding to that of its reference shareholder Limagrain. The long-term is in the very nature of the profession of farmers and seed producers, where long periods are involved. This is also an important feature of the culture of Limagrain, with its source partly in the farmer members of the cooperative, above all concerned to ensure the lasting success of their farms. Characterized by transparency in the information it provides and by its sharing of decisions, the governance of Vilmorin & Cie, like that of its reference shareholder Limagrain, allows strategic choices to be made for the long-term. This constancy in strategic orientations has resulted in a solid history of progression and also enabled Limagrain to encourage the development of Vilmorin & Cie, accompanying its investments regularly and significantly. 1.5. Development model