VINCI - 2005 annual report

5. NET FINANCIAL DEBT
The holding company’s net fi nancial debt at 31 December 2005 amounted
to €100.4 million, compared with €1,302.8 million the year before, a
decrease of €1,202.4 million.
Other bond loans is the €1,000 million issue made in three tranches in
July 2002 (€600 million), November 2002 (€250 million) and May 2003
(€150 million). The issue prices of these three tranches were 99.58%,
PARENT COMPANY FINANCIAL STATEMENTS
(in € millions) 2005 2004 2003
Convertible bond issues (OCEANE) 0.5 1,017.8 1,017.8
Other bond loans 1,000.0 1,137.2 1,137.2
Borrowing from credit institutions 107.0 107.0
Accrued interest on bonds 26.2 45.3 45.3
Long-term fi nancial debt 1,026.7 2,307.3 2,307.3
Borrowing from credit institutions and bank overdrafts 66.1 93.9 37.8
Commercial paper 493.3 17.1 18.9
Cash current accounts of subsidiaries and affi liated companies 2,772.5 2,584.9 2,085.1
Short-term fi nancial debt 3,331,9 2,695.9 2,141.8
Total fi nancial debt 4,358.6 5,003.2 4,449.1
Accounts receivable related to shareholdings and loans (23.5) (87.6) (280.0)
Marketable securities (3,487.6) (2,718.3) (2,249.4)
Cash current accounts of subsidiaries and affi liated companies (684.2) (717.7) (556.1)
Cash (62.9) (176.8) (63.8)
Current cash (4,234.7) (3,612.8) (2,869.3)
Net fi nancial debt 100.4 1,302.8 1,299.8
102.554%, and 106.156% respectively. The loan comprising these three
tranches pays interest at 5.875% and matures on 22 July 2009.
Marketable securities mainly consist of UCITS with maturities of usually
less than three months and of which the carrying amount is close to the
cash-in value.
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