Facing the Challenge of International Credit Management Within A Multi- Site Decentralised System Presenter: Pedro Febles Y Hernandez, Responsible Credit International - Corporate - InVivo Nutrition et Santé Animales, France

InVivo seeks to do two main things: help agriculture to express its full potential to produce more and better, create value for member cooperatives, customers, the farming world and society as a whole. InVivo’s key function is to pool: negotiation power for purchases, marketing power, expertise and innovation capacity.... to bring its partners performance and differentiation.

Union InVivo groups 241 member cooperatives InVivo, France’s leading farming cooperative group, works in four areas: InVivo Agro: seeds and agri-supplies InVivo Animal Nutrition and Health: complete feed, premix, animal health, laboratories, and additives InVivo Grains: international grain trading InVivo General Public: green distribution and services.4 or 25 % 0.5 or 8 %

What we do InVivo Animal Nutrition and Health is present in 17 countries, employs over 5,600 people and ranks among the world leaders in the sector. Its multi-species activities are divided into four geographical regions, France, Europe-Middle East-Africa, Latin America and Asia.

Business Lines 1 Complete feed is produced at 43 industrial sites in France, Spain, Brazil, Mexico, Vietnam, Indonesia and South Africa. Together these plants manufacture over three million tonnes a year. The service company activity combines the production of technicalproducts and the provision of high value-added services, ranging from formulation, nutritinal advice, zootechnical and health monitoring at livestock farms to the design of special feed programmes, the development of decision-support tools, and marketing and sales support. Number one in France, Inzo°, works with feed producing cooperatives, while SFPS works with other industrial feed manufacturers and on-farm producers. Premixes are produced in 22 industrial sites located in France, Spain, Italy, Portugal, Hungary, Romania, Brazil, Mexico, India, China, Russia and South Africa. Together these sites produce more than 22 million tonnes of feed a year from premixes.

Business Lines 2 The additives and natural ingredients activity is a strong growth source for InVivo Animal Nutrition and Health. The business is organised around the Neovia brand, which promotes and markets a portfolio of innovative, natural products that improve stockbreeders’ animal-rearing and economic performance for all species. The animal health activity is organised around the Qalian brand, which proposes three complementary and innovative ranges for safeguarding and improving animal health and wellbeing: animal health and livestock facility products, dietary specialties, and veterinary medicines The company is involved in the design, production and domestic and international sale of the product. InVivo Labs implements its top-level expertise through three laboratories in France and a fast-growing international network (in China, Vietnam and Brazil). InVivo Labs carries out over 1.5 million analyses and inspections a year, covering a broad range of fields with a focus on animal feed and agri-food. In Research & Development, InVivo Animal Nutrition and Health benefits from partnerships with key public, private, cooperative and academic research players in France and internationally. R&D is vital to innovation and differentiation, enabling the company to anticipate and fulfil local and global expectations in the livestock sectors. R&D relies on a global organisation structure (in France, Vietnam, Indonesia, Brazil and India) consisting of 160 experts and 13 applied research stations.

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BFC Global Ratings par Branch

Performance over one year DSO reduction Reduction <120 days Reduction >120 days Procedures in place by branch Implementation of credit committees Global credit insurance program Credit department organigram Wrap up comments