The fiscal year ended 12/31/2009 lasted 12 months. In 2009, 16 organizations made up the reporting entity, 4 creations (Burkina Faso, Côte d’Ivoire, Mali, Central African Republic) were added to the 12 organizations already recorded on 12/31/2008 (Nepal, Madagascar, Palestine, China, Benin, Senegal, Dubai, France, Colombia, Gabon, Egypt and South Africa).

This fiscal year was notably marked by:
• Growth in activity volume
• The delay to 2010 of the subsidiary formation of the PlaNIS activity
• The decision to stop the development activity of the MicroFit software package
• Risk balancing after inventory and identification

Growth
In spite of a difficult economic context and its consequences on the volumes of aid from funding agencies and the resources of microfinance institutions (MFI), PlaNet Finance saw its resources grow by nearly 6% in 2009. Institutional resources increased by 7% and private resources increased by 13%, thereby compensating for the drop in technical assistance sales to MFIs. Operating resources are EUR 9.9 million for the 2009 fiscal year.

Delay in the subsidiary formation of the PlaNIS activity
In order to better serve its social mission, PlaNet Finance plays, at the same time as its historical activities, a role of incubator of socially responsible businesses. PlaNet Finance takes responsibility for the initial development and ultimately finds a positive impact, for accounting purposes, by the valuation of investments. These, for all the investments, are today valued, in the balance sheet, at EUR 854K, their market value being much greater (EUR 1.9 million), based on the latest capital transactions. PlaNIS’ activity should have been converted into a subsidy in 2009, but the operation was delayed until 2010.

Termination of MicroFit’s activity
The objective of MicroFit’s activity was to supply adapted computing solutions to MFIs. The lack of convincing results combined with the will to refocus on the main activity of technical assistance, led to the decision to terminate this activity with a negative impact of EUR 746K as a result. Measures have been implemented in order to coach the MFIs concerned in the search for alternative solutions.

Balancing of the identified risks
PlaNet Finance’s activity has enjoyed, since its creation, the very rapid development and strong growth of its international network. This development, necessary for the accomplishment of its missions in the fight against poverty, normally accompanies an increase in risk (volumes, variety of operations, diversity of financing, multiplicity of counterparties). The deterioration of a few fi les led to translating these risks into provisions for a sum of EUR 425K. The convergence of these factors explains that the net earnings of PlaNet Finance for the 2009 fiscal year is a loss of EUR 1,492K.