VINCI - 2005 annual report
VINCI - 2005 annual report VINCI - 2005 annual report
CONTENTS Group profi le 1 Chairman’s message 2 THE GROUP IN 2005 4 Corporate management structures 6 Key fi gures 8 Organisation of the Group 10 Strategy 12 Stock market and shareholder base 14 Highlights 18 2005 BUSINESS REPORT 20 Concessions 22 Key fi gures 24 Profi le 25 Business report 27 Outlook 48 Energy 50 Key fi gures 52 Profi le 53 Business report 54 Outlook 64 Roads 66 Key fi gures 68 Profi le 69 Business report 70 Outlook 80 Construction 82 Key fi gures 84 Profi le 85 Business report 86 Outlook 100 Property 102 A RESPONSIBLE GROUP 106 Sustainable development approach 108 Social responsibility 112 Social indicators 121 Civic involvement 124 Customers and suppliers 128 Environmental responsibility 132 Environmental indicators 140 R&D and innovation 144 Statutory Auditors’report 147 FINANCIAL ITEMS 148 Corporate governance 152 Report of the Chairman on internal control procedures 169 Report of the Board of Directors 176 Consolidated fi nancial statements 189 Parent company fi nancial statements 284 General information 296 Persons responsible for the registration document 304 Table of correspondence 306
VINCI, the world’s leading integrated concessionconstruction group Workforce 134,000 employees worldwide Operating in over 80 countries Revenue €21.5 billion Net profi t attributable to equity holders of the parent €871million Market capitalisation GROUP PROFILE VINCI, the world’s leading construction and related services group (1) , reinforces its portfolio of concessions by acquiring Autoroutes du Sud de la France, Europe’s second-largest motorway operator, to form the world’s leading integrated concession-construction group (2) in 2006. In a move consistent with VINCI’s historic development strategy of focusing on four major operating divisions, the acquisition balanced the share of concessions among the Group’s business lines. VINCI CONCESSIONS VINCI Concessions draws on its expertise in project design, structuring, fi nancing, turnkey construction and engineering to build transport infrastructure (motorways, engineering structures, car parks and airports) under public-private partnerships (PPPs), which the company then operates under long-term contracts. This dual competency also applies to major public facilities, such as the Stade de France. VINCI ENERGIES VINCI Energies is the market leader in France and a major player in Europe in energy and information technology services, providing the interface between equipment manufacturers and users. Operating in the energy infrastructure, manufacturing, service and telecommunications sectors where it develops solutions that are both local and global, VINCI Energies supports its customers at all stages of their projects (design, engineering, implementation, operation and maintenance). 1. – VINCI is ranked as the world’s leading construction company by US publication Engineering New Records, , quoted in the December 2005 issue of Le Moniteur. 2. – Source: internal study. EUROVIA Eurovia, a world leader in roadworks and recycling, builds, renovates and maintains road and motorway infrastructure, carries out urban, industrial and retail development projects and is expanding into complementary environmental and service business lines. Vertically integrated, with 220 quarries, 520 production sites and 110 recycling units, Eurovia is also the leading French producer of aggregates and a leading European producer of roadworks materials. VINCI CONSTRUCTION VINCI Construction, market leader in France and a major player on the world construction market, brings together an outstanding combination of capabilities in building, civil engineering, hydraulic engineering, multi-technical maintenance and services. With strong roots in its local markets through its networks of subsidiaries in France, Europe and Africa, the company also holds a leading role in the world market for major design-build and specialised, technically sophisticated civil engineering projects. €15.1billion at 31 January 2006 1
- Page 1 and 2: ANNUAL REPORT 2005
- Page 3: EUROVIA VINCI CONSTRUCTION KEY 2005
- 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 14 and 15: Complementary business lines operat
- 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
CONTENTS<br />
Group profi le 1<br />
Chairman’s message 2<br />
THE GROUP IN <strong>2005</strong> 4<br />
Corporate management structures 6<br />
Key fi gures 8<br />
Organisation of the Group 10<br />
Strategy 12<br />
Stock market and shareholder base 14<br />
Highlights 18<br />
<strong>2005</strong> BUSINESS REPORT 20<br />
Concessions 22<br />
Key fi gures 24<br />
Profi le 25<br />
Business <strong>report</strong> 27<br />
Outlook 48<br />
Energy 50<br />
Key fi gures 52<br />
Profi le 53<br />
Business <strong>report</strong> 54<br />
Outlook 64<br />
Roads 66<br />
Key fi gures 68<br />
Profi le 69<br />
Business <strong>report</strong> 70<br />
Outlook 80<br />
Construction 82<br />
Key fi gures 84<br />
Profi le 85<br />
Business <strong>report</strong> 86<br />
Outlook 100<br />
Property 102<br />
A RESPONSIBLE GROUP 106<br />
Sustainable development approach 108<br />
Social responsibility 112<br />
Social indicators 121<br />
Civic involvement 124<br />
Customers and suppliers 128<br />
Environmental responsibility 132<br />
Environmental indicators 140<br />
R&D and innovation 144<br />
Statutory Auditors’<strong>report</strong> 147<br />
FINANCIAL ITEMS 148<br />
Corporate governance 152<br />
Report of the Chairman<br />
on internal control procedures 169<br />
Report of the Board of Directors 176<br />
Consolidated fi nancial statements 189<br />
Parent company fi nancial<br />
statements 284<br />
General information 296<br />
Persons responsible<br />
for the registration document 304<br />
Table of correspondence 306
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