ASF - 2002 annual report - Vinci

Messages
What are ASF’s results in
2002?
B. Val: We can be delighted
with the results our Group has
achieved. We posted a record
margin of 62.3% of turnover, an
increase of 2.6. Our turnover
rose by 9% compared to the
past year and we recorded
growth of 31% of our net before
tax profits. This demonstrates
our capacity to respect the
undertakings made when new
shareholders were welcomed
into the capital in March 2002
and to integrate ASF into a
growth dynamic in a sensitive
economic context.
What judgement can you make
today about the Group’s listing
on the Stock Market?
B. Val: It is an undeniable success!
Generally speaking, the market
has appreciated our ability to
create value and increase our
operating results faster than our
turnover. The relative stability of
the share price, well above the
progress of the CAC 40 and the
SBF 120, emphasized our
Group’s excellent fundamental
principles: a controlled activity,
an acknowledged technical
skill, regular improvements in
productivity. These results are
also the reflection of the attention
that we pay to our customers,
our concern for quality
over the whole network and, of
course, the responsiveness and
commitment of our teams. The
finest proof of the success of
the Group’s listing on the Stock
Market is the number of
employees who have subscribed
for shares: 93% of ASF’s
personnel have become shareholders!
How do you see the coming
year?
B. Val: Our fundamental principles
are our main strengths for
the future. We are working on
drawing up an industrial project,
encouraging international
development and strengthening
our vocation in road
transport infrastructures, whatever
the State’s decision about
its potential withdrawal from
the capital of ASF. However,
beyond this basic question
which is the State’s responsibility,
we are going to continue
performing our public service
duties, seeking to give greater
satisfaction to our customers
and shareholders, improve our
results and allow our
employees to be fully involved
with the Group’s success.
What are the reasons behind
the reorganization carried out
in ASF in 2002?
J. Tavernier: This was the continuation
of the “ASF Vision
2005” project set up in 2001 by
the Management Committee: it
responds to the necessity of
reinforcing our accounting and
financial structure since the
Company’s listing and giving us
the means to undertake a careful
development, particularly
internationally, with the creation
of a Development Division
and a Legal Division. This new
organization allows us to reinforce
the cross-functional
connections between all our
specialities, to harmonize our
procedures and to make the
best use of all our in-house abilities
for our future development
projects.
What is the status of the international
projects on which ASF
is currently working?
J. Tavernier: In July 2002, we
concluded a partnership agreement
with Bouygues
Construction which concerns
the first phase of the “Highway
2000” motorway project in
Jamaica between Kingston and
Sandy Bay. We hold interests of
34% in the concession company
and 51% in the operatingmaintenance
company.