VINCI - 2005 annual report
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VINCI - 2005 annual report

VINCI - 2005 annual report VINCI - 2005 annual report

publi.vinci.com
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11.01.2013 Views

Antoine Zacharias Xavier Huillard

VINCI gains new momentum With the ASF acquisition, VINCI becomes the leading French motorway concessionaire, the European leader in transport infrastructure concessions and the world’s leading integrated concessionconstruction group. A company like ours forges ahead by drawing strength from its roots. It shapes its future by cultivating its principles and maintaining a strategic course. Born over one hundred years ago, our group originated in highly complementary construction and concession business lines. Now, at the start of the 21 st century, the same model inspires its strategy and drives its prospects for further growth. 2005 ended with an event marking the culmination of a project that had been under way for four years and that lends new impetus to our growth momentum: VINCI was selected as the company to carry out the complete privatisation of Autoroutes du Sud. With this acquisition, which is being fi nalised in the fi rst half of 2006, VINCI becomes the leading French motorway concessionaire, the European lead player in transport infrastructure concessions and the world’s number one integrated concessionconstruction group. The merger restores the equilibrium among our four complementary business lines - concessions, energy, roads and construction. It considerably broadens our recurring and predictable results base. It consolidates our positions on European markets driven by the major infrastructure and public facility construction and renovation programmes now being carried out, increasingly under public-private partnerships, by local authorities. It paves the way for expansion in these business lines beyond the borders of our continent. All the ASF teams, and their management in particular, will be contributing their experience and their competencies to that effort. These developments are made possible thanks to the constant improvement in our performance: once again, the year ended with highly satisfactory results. Our revenue grew by 10%, our operating profi t from ordinary activities by 21% and our net profi t by 19%. In a demonstration of investors’ faith in our ability to sustain our growth over time, our stock market share price increased by 47% during the year, by nearly 120% over two years and by 870% over 10 years. Long-term sustainability is also the focus of the approach we take to being a responsible group. As VINCI builds infrastructure and develops urban spaces, its operations touch upon major environmental issues. VINCI has a duty to offer its employees - 142,000 following the acquisition of ASF - a human resources plan on a par with its economic plan. It has a particular duty to pay close attention to changes in the societies in which it operates, with their diversity and their need for solidarity. The efforts we have made in these areas need to be further pursued and extended, especially in the fi eld of equal opportunities. The VINCI Foundation will be taking up these new challenges, as will our companies with their endeavour to foster gender equality. With a new chapter now opening up in our history, the Board of Directors in early January 2006 accepted my proposal to entrust the general management of VINCI to Xavier Huillard. I am certain that Xavier Huillard’s abilities, demonstrated over the many years in which we have worked together within the Group, will enable him to lead VINCI to long-term success. In my position as Chairman of the Board, I for my part will continue to contribute to the discussion of our Group’s strategy, making my experience available in the expansion projects that are certain to come VINCI’s way. Antoine Zacharias Chairman A MESSAGE FROM THE CHAIRMAN 3

Antoine Zacharias<br />

Xavier Huillard

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