VINCI - 2005 annual report

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VINCI Park VINCI Park is present in 12 countries, designing, building, fi nancing and operating car parks and on-street parking spaces. Number one in Europe and world leader in car park concessions, the company operates 790,000 spaces. A benchmark in the outsourced operation of public car parks, VINCI Park is also a partner to promoters and investors wishing to outsource the management of their facilities. Net profi t +13 % 42 VINCI 2005 ANNUAL REPORT France VINCI Park enjoyed the full benefi t in 2005 of the raising of restrictions imposed on its expansion by the French competition commission at the time of the merger between VINCI and GTM. The company won several tenders for the outsourced management of public car parks, establishing itself in two new towns with more than 10,000 residents: Abbeville, with the construction of a car park with 230 spaces and the operation of 1,000 on-street spaces, and Cosne Cours sur Loire, with 490 spaces. VINCI Park also increased the number of car parks it manages by winning two new concessions for car parks to be built, one in Asnières (300 spaces) and the other in Avignon (700 spaces). In addition, it strengthened its presence by renewing or obtaining concession contracts in Saint Denis (1,500 spaces), Beauvais (1,250 spaces), Limoges (550 spaces), Nîmes (890 spaces), Mulhouse (2,650 spaces), Charenton le Pont (2,710 spaces) and Neuilly sur Seine (260 spaces). Many medium-sized and small towns have recently decided in favour of the pay-to-park principle. They are expected to issue tenders for the outsourced management of public car parks during the coming months, such tenders representing new growth opportunities for VINCI Park. Since 2004, VINCI Park has been developing a special service package for the hospital segment. Based on quality of service and attention to employee training – two of the key characteristics that differentiate VINCI Park’s network – the hospital package was quick to gain signifi cant commercial success in France (Nîmes, Metz, Suresnes and Rheims, for example), before attracting similar success in other countries in 2005, notably Canada and the United Kingdom. As part of its drive to diversify its portfolio, VINCI Park increased its freehold base by acquiring car parks in Strasbourg (230 spaces) and Saint Paul de Vence (480 spaces). The company also continued its policy of developing services aimed at building customer loyalty and making car parks more attractive by focusing on customer care – as guaranteed by VINCI Park’s charter – and the diversity of services associated with car parks. The initiatives launched in 2005 included the creation of Radio VINCI Park, which broadcasts classical music and information messages in car parks, experimenting with drop-off boxes for professional use
Above. Present in 12 countries, VINCI Park has built its image on quality and customer services (loan of bicycles and umbrellas, free breakdown repair kits, etc.) In € millions and as a percentage of revenue REVENUE 491 2003 * Before tax and fi nancing costs. 485 2004 494 2005 179 177 2004 2005 VINCI PARK, P EUROPEAN LEADER IN CAR PARK OPERATION Number of spaces managed VINCI Park (France) Apcoa (Germany) NCP (United Kingdom) Cintra (Spain) Euro Car Parks* (United Kingdom) Q-Park (Pays-Bas) Eiffage Parking (France) * Spaces in car parks (number of on-street spaces not known). Source: company press releases, VINCI estimates. CASH FLOW FROM OPERATIONS* 36.9% 35.8% 790,000 691,000 230,000 230,000 222,000 208,000 160,000 NET PROFIT 67 76 2004 2005 43
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 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 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
Page 65 and 66: VINCI Energies at the Zénith conce
Page 67 and 68: ÉDITORIAL GRANIOU SUPPORTS NORTEL
Page 70 and 71: 66 LEADER IN INFRASTRUCTURE CONSTRU
Page 72 and 73: KEY FIGURES In € millions and as
Page 74 and 75: EUROVIA / BUSINESS REPORT Brisk gro
Page 76 and 77: MATERIALS: A STRATEGIC FACILITY IN
Page 78 and 79: EUROVIA / BUSINESS REPORT NOxer ®
Page 80 and 81: Top left. Roadworks in the village
Page 82 and 83: EUROVIA / BUSINESS REPORT Design &
Page 84: CONSTRUCTION EUROVIA CONSTRUCTION E
Page 87 and 88: CONSTRUCTION 83
Page 89 and 90: French market leader and a world ma
Page 91 and 92: Above. The Granite tower under cons
Page 93 and 94: VINCI Construction Grands Projets
Page 95 and 96: ÉDITORIAL A BUILDING OF THE FUTURE
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The fl oating swimming pool To meet
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Civil engineering revenue +11.2 % S
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Top. Restructured so as to reduce t
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In the United Kingdom and Germany,
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101
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ÉDITORIAL Top. Standing alongside
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VINCI Immobilier will be developing
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A RESPONSIBLE GROUP 107
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Implementation of the Global Compac
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Priority areas and projects Limit t
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Commitments Guarantee the safety an
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COMBINING MOTIVATION AND SAFETY CFE
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DEVELOPING SKILLS VINCI’s trainin
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VINCI CONSTRUCTION SATISFACTION SUR
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Other social indicators A RESPONSIB
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REMUNERATION Remuneration and socia
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LEARNING TO LEARN The VINCI Foundat
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EMERGENCY AID ACTIVITIES The VINCI
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FICHE VINCI PREQUALIFICATION AND IM
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Above: Since 2005, VINCI’s approv
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A BUILDING THAT USES LESS ENERGY VI
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ISO 14001 CERTIFICATION GROWTH 2004
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IMPROVING THE ENERGY EFFICIENCY OF
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Optimising waste management VINCI c
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Above: After rehabilitation, Eurovi
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B/ NOISE POLLUTION Eurovia 2005 200
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UN GROUPE RESPONSABLE / RESPONSABIL
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Opinion of one of the Statutory Aud
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FINANCIAL STATEMENTS FINANCIAL STAT
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27. Market value of fi nancial inst
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2.1 APPOINTMENTS AND FUNCTIONS OF C
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Alain Dinin Age: 55 • 1997-2008 N
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Yves-Thibault de Silguy (suite) Wil
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The other eleven Directors are prom
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- in respect of the Company’s int
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The following table shows the Direc
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When he retired, he received €1,2
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CORPORATE GOVERNANCE Options Option
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REPORT OF THE CHAIRMAN REPORT OF TH
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3.4. INTERNAL AUDIT The internal au
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The third step, in 2003 and 2004, i
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REPORT OF THE STATUTORY AUDITORS IN
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Outside France, VINCI Energies’ r
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1.3 NET PROFIT Net profi t attribut
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The Group’s fi nancial structure
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1.3 CONCESSIONS The main risks in c
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C. INSURANCE 1. GENERAL POLICY Give
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D. OTHER INFORMATION 1. INVESTMENT
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CONSOLIDATED FINANCIAL STATEMENTS C
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CONSOLIDATED FINANCIAL STATEMENTS E
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STATEMENT OF CHANGES IN CONSOLIDATE
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2.2 EARLY REDEMPTION OF THE 2002-20
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1.1 FIRST-TIME ADOPTION OF IFRS - M
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Joint venture partnerships created
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- when borrowing is not intended to
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Cash management financial assets Ca
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- Hedge of a net investment in a fo
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1.2.2 Breakdown of revenue by locat
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FY 2004 CONSOLIDATED FINANCIAL STAT
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FY 2004 CONSOLIDATED FINANCIAL STAT
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4. SEGMENT INFORMATION BY GEOGRAPHI
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5.3 SHARE-BASED PAYMENTS The expens
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The income arising in the period fr
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E. NOTES TO THE BALANCE SHEET 10. I
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12.2 IMPAIRMENT LOSSES ON OTHER NON
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CONSOLIDATED FINANCIAL STATEMENTS 1
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15. LEASED ASSETS Property, plant a
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20. CONSTRUCTION CONTRACTS 20.1 FIN
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The changes in capital in 2005 brea
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CONSOLIDATED FINANCIAL STATEMENTS I
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Changes in the period CONSOLIDATED
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24. PROVISIONS During the period, c
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By business line, the analysis of n
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. Other bonds Other bonds break dow
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d. Finance leases The table below s
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25.3.2 Cash and cash management fin
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CONSOLIDATED FINANCIAL STATEMENTS T
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Based on this position, a 1% increa
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26.3.3 Analysis of other foreign cu
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28. TRANSACTIONS WITH RELATED PARTI
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The maturities of contractual oblig
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31. REMUNERATION AND RELATED BENEFI
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promissory notes issued by Intertou
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CONSOLIDATED FINANCIAL STATEMENTS I
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(h) Reclassification under operatin
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1.5 SUMMARIES OF IMPACTS OF RESTATE
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2.3.2 Goodwill CONSOLIDATED FINANCI
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2.3.6 Fair value of derivatives CON
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2.4 RECONCILIATION OF BALANCE SHEET
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2.4.6 Trade and other current payab
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K. MAIN CONSOLIDATED COMPANIES AT 3
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CONSOLIDATED FINANCIAL STATEMENTS C
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CONSOLIDATED FINANCIAL STATEMENTS R
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1.3 OTHER FINANCIAL TRANSACTIONS Th
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3.2 EQUITY PARENT COMPANY FINANCIAL
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5. NET FINANCIAL DEBT The holding c
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PARENT COMPANY FINANCIAL STATEMENTS
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Meeting are determined by the Share
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3. INFORMATION ON VINCI’S SHARE C
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3.3 BREAKDOWN OF SHARE CAPITAL AND
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3.5 THE VINCI SHARE AND THE STOCK M
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3. FEES OF THE STATUTORY AUDITORS P
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9. Operating and fi nancial review
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In accordance with Article 212-13 o
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VINCI - 2005 annual report

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