Country & Regional Focus
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Interview – Benoît Kerloc’h

Director of Finance and Treasury, CFAO

“We give priority to micro-hedging”

La Lettre du Trésorier

In France, the reputation of your company is modest in comparison to its size; it is worth over €1.5bn on the stock market…

Benoît Kerloc’h

The company is indeed not well known in France, although it was founded in 1887, but on the other hand it is very well known in Africa, where it conducts 80% of its business in 34 countries, with the remainder of sales coming from overseas regions and territories. CFAO is a specialised distribution business with three arms: automobile distribution and import which accounts for 58% of our revenue, distribution of pharmaceutical products, (30%), and a variety of industrial activities, involving equipment and services. The company, which had a turnover of €2.7bn in 2010, an operating profit of €233m and a net profit of €140m, employs 9,500 people in 140 subsidiaries.