VINCI - 2005 annual report
VINCI - 2005 annual report VINCI - 2005 annual report
Complementary business lines operating mainly in Europe 4. 4. 3. 5. 2. 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. 5. 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.
100% VINCI CONCESSIONS 23% 65% 100% 100% ASF Cofi route Other concessions (1) VINCI Park VINCI Services Aéroportuaires CONCESSIONS AND SERVICES ORGANISATION OF THE GROUP The simplifi ed chart above shows the main companies owned directly or indirectly by VINCI at 31 December 2005 and the percentage of capital held. 1. – See list of concessions on Page 24. 100% VINCI ENERGIES 100% 80% 100% 100% French subsidiaries VINCI Energies Deutschland Spark Iberica (Spain) Emil Lundgren (Sweden) VINCI Energies UK Other foreign subsidiaries VINCI 100% EUROVIA 100% 100% 92% 100% French subsidiaries Eurovia GmbH (Germany) Ringway (United Kingdom) SSZ (Czech Republic) Hubbard (USA) Other foreign subsidiaries 100% VINCI CONSTRUCTION 100% 100% 100% Sogea Construction GTM Construction VINCI PLC (United Kingdom) CFE (Belgium) 100% ENERGY ROADS CONSTRUCTION PROPERTY 45% 100 % 100 % VINCI Construction Filiales Internationales - Germany - Central Europe - Former French overseas territories - Africa VINCI Construction Grands Projets Freyssinet VINCI Immobilier 11
- Page 1 and 2: ANNUAL REPORT 2005
- Page 3 and 4: EUROVIA VINCI CONSTRUCTION KEY 2005
- Page 5 and 6: VINCI, the world’s leading integr
- Page 7: VINCI gains new momentum With the A
- Page 10 and 11: Corporate management structures BOA
- Page 12 and 13: All business lines contributed to t
- Page 16 and 17: A growth course set by the concessi
- Page 18 and 19: VINCI share price up 47% in 2005 In
- Page 20 and 21: THE 2006 SHAREHOLDERS’ CALENDAR 1
- Page 22 and 23: 2005 Highlights Bernard Val, Chairm
- Page 24 and 25: 20 VINCI 2005 ANNUAL REPORT
- Page 26 and 27: 22 BUILDING AND MAKING A LONG-TERM
- Page 28 and 29: KEY FIGURES In € millions and as
- Page 30 and 31: VINCI CONCESSIONS WORLDWIDE EUROPE
- Page 32 and 33: Top. ASF and Escota operate a netwo
- Page 34 and 35: CONCESSIONS / ACTIVITÉ ASF recentl
- Page 36 and 37: CONCESSIONS / BUSINESS REPORT 32 VI
- Page 38 and 39: CONCESSIONS / BUSINESS REPORT Betwe
- Page 40 and 41: A86 : DISCREET DOWN TO THE FINEST D
- Page 42 and 43: The toll system of the future In Ma
- Page 44 and 45: Top. Some 41,000 vehicles a day tra
- Page 46 and 47: VINCI Park VINCI Park is present in
- Page 48 and 49: 44 VINCI 2005 ANNUAL REPORT and the
- Page 50 and 51: Airport sector VINCI Concessions is
- Page 52: CONSTRUCTION CONCESSIONS CONSTRUCTI
- Page 55 and 56: ENERGY 51
- Page 57 and 58: A leader in energy and information
- Page 59 and 60: Top. For the Munich airport, German
- Page 61 and 62: Acquisitions 16 companies acquired
- Page 63 and 64: Top left. Design and implementation
100%<br />
<strong>VINCI</strong> CONCESSIONS<br />
23%<br />
65%<br />
100%<br />
100%<br />
ASF<br />
Cofi route<br />
Other<br />
concessions (1)<br />
<strong>VINCI</strong> Park<br />
<strong>VINCI</strong><br />
Services<br />
Aéroportuaires<br />
CONCESSIONS<br />
AND SERVICES<br />
ORGANISATION OF THE GROUP<br />
The simplifi ed chart above shows the main companies owned directly or indirectly by <strong>VINCI</strong> at 31 December <strong>2005</strong> and the percentage of capital held.<br />
1. – See list of concessions on Page 24.<br />
100%<br />
<strong>VINCI</strong> ENERGIES<br />
100%<br />
80%<br />
100%<br />
100%<br />
French<br />
subsidiaries<br />
<strong>VINCI</strong><br />
Energies<br />
Deutschland<br />
Spark<br />
Iberica<br />
(Spain)<br />
Emil<br />
Lundgren<br />
(Sweden)<br />
<strong>VINCI</strong><br />
Energies UK<br />
Other<br />
foreign<br />
subsidiaries<br />
<strong>VINCI</strong><br />
100%<br />
EUROVIA<br />
100%<br />
100%<br />
92%<br />
100%<br />
French<br />
subsidiaries<br />
Eurovia GmbH<br />
(Germany)<br />
Ringway<br />
(United<br />
Kingdom)<br />
SSZ<br />
(Czech<br />
Republic)<br />
Hubbard<br />
(USA)<br />
Other<br />
foreign<br />
subsidiaries<br />
100%<br />
<strong>VINCI</strong> CONSTRUCTION<br />
100%<br />
100%<br />
100%<br />
Sogea<br />
Construction<br />
GTM<br />
Construction<br />
<strong>VINCI</strong> PLC<br />
(United<br />
Kingdom)<br />
CFE<br />
(Belgium)<br />
100%<br />
ENERGY ROADS CONSTRUCTION PROPERTY<br />
45%<br />
100 %<br />
100 %<br />
<strong>VINCI</strong><br />
Construction<br />
Filiales<br />
Internationales<br />
- Germany<br />
- Central Europe<br />
- Former French<br />
overseas territories<br />
- Africa<br />
<strong>VINCI</strong><br />
Construction<br />
Grands Projets<br />
Freyssinet<br />
<strong>VINCI</strong><br />
Immobilier<br />
11
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