VINCI - 2005 annual report

By business line, the analysis of net financial debt at 31 December 2005 is as follows:
CONSOLIDATED FINANCIAL STATEMENTS
31/12/2005
VINCI SA Concessions Other business
and services lines
(in € millions) Non-current Current Non-current Current Non-current Current Total
Convertible bonds (0.5) (0.5)
Other bonds (1,026.0) (26.2) (2,559.4) (301.1) (2.9) (1.8) (3 917.5)
Loans from financial institutions
and other financial debt (1,444.6) (57.6) (252.4) (158.9) (1,913.5)
Finance leases (3.1) (51.9) (9.8) (79.8) (17.9) (162.5)
Long-term financial debt (1,029.1) (26.8) (4,055.9) (368.5) (335.1) (178.5) (5,993.9)
Other financial debt (505.1) (10.9) (147.5) (663.4)
Bank overdrafts (1) (18.9) (13.3) (572.8) (605.0)
I - Gross financial debt (1,029.1) (550.8) (4,055.9) (392.7) (335.1) (898.8) (7,262.4)
Collateralised financial receivables 17.0 1.2 6.4 24.6
Current cash management financial assets (2) 3,492.7 403.1 398.8 4,294.6
Cash (3) 11.9 146.5 985.5 1,144.0
II - Financial assets 0.0 3,504.6 17.0 550.8 6.4 1,384.3 5,463.1
Derivative financial instruments, liabilities (0.3) (1.4) (2.8) (0.4) (5.5) (1.7) (12.1)
Derivative financial instruments, assets 31.5 20.3 167.8 25.5 0.3 2.1 247.4
III - Derivative financial instruments 31.2 18.9 165.0 25.1 (5.2) 0.4 235.3
IV - Net financial current account 0.0 (2,082.3) 0.0 (550.3) 0.0 2,617.6 (15.0)
Net financial debt (I + II + III + IV) (997.9) 890.4 (3,874.0) (367.0) (333.9) 3,103.4 (1,579.0)
31/12/2005
of which, net cash managed: VINCI SA Concessions Other business Total
and services lines
Current cash management financial assets (2) 3,492.7 403.1 398.8 4,294.6
Cash (3) 11.9 146.5 985.5 1,144.0
Bank overdrafts (1) (18.9) (13.3) (572.8) (605.0)
Net cash managed 3,485.6 536.3 811.6 4,833.5
25.1 DETAIL OF LONG-TERM DEBT
a. Convertible bonds (OCEANE)
The two OCEANE bonds issued in 2001 and 2002 were converted into shares in 2005 (see Key Events §2)
31/12/2005 31/12/2004
currency market amount debt impact of impact debt debt
value tansferred recorded amortised of fair carrying carrying
to equity on issue cost values amount amount
after
conversion
(in € millions) (a) (b) ( c ) (a)+(b)+( c )
VINCI OCEANE July 2001 EUR 0.0 586.5 0.0 575.6
VINCI OCEANE April 2002 EUR 0.0 510.0 (1) 0.5 0.0 0.5 522.3
Total OCEANE bonds 0.0 1,096.5 0.5 0.0 0.0 0.5 1,097.9
(1) The part of the April 2002 OCEANE transferred to equity during the second half of 2005 is less than the amount of the debt component at 31 December 2004 given the adjustment to the maturity date of
this OCEANE during the first half of 2005.
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