Introduction by the deputy managing director

The positive results are the consequence of an overall strengthening of the financial, administrative and human resources functions that are effective since PlaNet Finance has increased its total resources in 2005:

• The total financial resources represent 6,8 million euros which corresponds to a growth of 34% ;

• The human resources have welcomed 42 new associates representing 189 associates which correspond to a rise of 29%.

In this context of important growth, the General Directorate in charge of the expansion of PlaNet Finance organized the mission around three principal axis: improvement of the financial management to guarantee the financial soundness on a mid and long term and serve efficiently our social mission the fight against poverty; the cohesion and the cooperation within the network; the human capital leveraging.

The efforts implemented to achieve these goals were governed by:

• Strengthening and overall application of the procedures in order to control and optimize the cost;

• Consolidating the cash flow management with enhanced control of the cycle of receipt of donators, partners and clients;

• Restructuring the whole Administrative and Financial Department in order to design efficient management tools;

• Strengthening the international network with the adoption of an affiliation contract that clearly states the relationships between the Headquarters (France) and the international offices;

• Improving the overall policy of Human resources in order to recruit experts ; train and strengthen the abilities of all associates.

With this process of reinforcement, PlaNet Finance has undergone a significant growth during the year 2005 thanks to the expansion of its international network and development of its activities. The most noticeable expressions of this growth can be represented by these following accomplishments:

• Integration on June 2005 of the rating department within a independent structure : PlaNet Rating;

• On July 2005 setting up a subsidiary in charge of the financing activity: MicroCred;

• Setting up of 5 PlaNet Finance offices around the world (Planet Finance Argentina, PlaNet Finance Egypt, PlanetFinance Switzerland, PlanetFinance Japan and PlanetFinance Nepal).

As for PlanetFinance Headquarters, the resources (cash and in-kind contributions) have experienced a growth of 21 % in comparison with 2004. They represent 5,3 K euros at the end of 2005.
 
You will find in the following pages the description of the results with a presentation of the resource allocation statement of the fiscal year 2005, the analysis of key indicators as well as the Human resources situation.

The year 2006 will be the opportunity for PlanetFinance to reinforce cooperation between the different players of its network with the development of a professional and efficient internal management in every office.