VINCI - 2005 annual report

Complementary business lines
operating mainly in Europe
4.
4.
3.
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1.
2005 NET PROFIT
BY 4. BUSINESS LINE
1. Concessions and services 36%
2. Energy 11%
3. Roads 3.
4. Construction 2.
17%
34%
5. Property 2%
Total 100%
1.
VINCI has a balanced portfolio of business lines which are very complementary from a fi nancial viewpoint:
– Concessions are capital intensive during the investment phase, but they generate recurring revenues and profi ts, offering good future visibility;
– Engineering business lines (construction, roads and energy), which are much less capital intensive, are cash fl ow generators and generally have short
operating cycles.
3.
10
4.
2.
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6. 7.
5.
1.
3.
2.
1.
VINCI 2005 ANNUAL REPORT
2005 REVENUE
BY BUSINESS LINE
1. Concessions and services 9%
2. Energy 16%
3. Roads 30%
4. Construction 43%
5. Property 2%
Total 100%
1. France 62%
2. Germany 7%
3. United Kingdom 8%
4. Central and Eastern
Europe 7%
5. Rest of Europe 7%
6. North America 4%
7. Rest of the world 5%
Total 100%
4.
3.
2.
3.
5.
5.
2.
1.
2005 REVENUE BY GEOGRAPHICAL AREA
1.
2005 OPERATING PRO-
FIT FROM ORDINARY
ACTIVITIES BY BUSINESS
LINE
1. Concessions and services 41%
2. Energy 12%
3. Roads 15%
4. Construction 30%
5. Property 2%
Total 100%
2005 CAPITAL EMPLOYED
BY 4. BUSINESS LINE
1.
1. Concessions and services 96%
2. Energy 2%
3. Roads 3.
4. Construction 2.
6%
- 6%
5. Property 2%
Total 100%
VINCI generates over 90% of its revenue in Europe, with 62% of the total in
France. The Group has signifi cant operations in Germany and the UK, as well
as in Central and Eastern Europe, which is a high growth area.
This geographical distribution refl ects the decision by most VINCI business
lines to maintain a strong local presence through entities fi rmly anchored in
their own markets.