VINCI - 2005 annual report

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MATERIALS: A STRATEGIC FACILITY IN ANTWERP In 2005, Eurovia and Van Wellen (a subsidiary of CFE in which VINCI Construction holds a 45% interest) set up a port facility in Antwerp, Belgium, to store, process and trade construction materials. Supplied by sea, the site can automatically unload and store 6,000 tonnes of materials per hour in a single operation. Its strategic location makes it particularly suitable for supplying the markets of northern Europe, which have a shortage of road materials. Throughput at this facility is expected to reach a million tonnes per year by 2007. Bottom left. On the A89 motorway, Eurovia paved the 51 km Sancy-Combronde section, including the Sioule viaduct, and the 10.2 km Terrasson – Brive-Nord section for Autoroutes du Sud de la France. 72 VINCI 2005 ANNUAL REPORT
Revenue +11 % in France Communication in Calais To keep local residents abreast of progress on the three-year project, Eurovia set up a website that can be accessed by the public from two kiosks in the city centre, as well as a toll-free telephone number, an information offi ce and a free electronic newsletter. France EUROVIA / BUSINESS REPORT Eurovia’s business activity in France, accounting for 56% of its revenue, continued to increase at a steady pace (+11% in 2005, compared with +9% in 2004). Growth was generated in all regions but was particularly strong in the Auvergne and Rhône-Alpes regions (+20.6%). Several acquisitions, accounting for total revenue of €32 million, bolstered the group’s network. These were mainly quarries (the Pélissard, CLHP, CBA, Grands and Lebrat companies, with a combined capacity of 750,000 tonnes per year) and materials recycling facilities (Fillot TP: 250,000 tonnes per year). Eurovia was involved in 15 tramway projects, i.e. on the vast majority of such projects now under way in France. The company’s urban development capabilities, covering a wide range of expertise in urban amenity upgrades (earthworks, re-routing of utility networks, construction of development sites, facade-to-facade development, cobblestone and fl agstone pavements, etc.) make it a leader on this market, where it has been operating since projects of this type were fi rst launched in the 1980s. The company’s related services offering also gives it a competitive edge in urban regeneration projects: for example, Eurovia’s proposed community communication plan helped win it the contract for the comprehensive refurbishment of several city-centre boulevards in the northern French city of Calais. Business was also brisk in construction and renovation of major infrastructure such as motorways (notably the construction of several sections totalling 61 km of the A89 motorway for ASF and the 2x3 lane widening of a 16.5 km section of the A42 motorway in eastern France), airport facilities (new Airbus delivery centre in Toulouse, Lyons – Saint Exupéry airport extension) and major urban amenity projects such as the development of the banks of the Rhône in Lyons. Alongside these major projects, a very large number of smaller contracts were carried out for public and private sector customers, forming the base of Eurovia’s recurring business activity. The company also carried out three high profi le projects: pavement renovation at the Place Charles de Gaulle (Place de l’Etoile) in Paris, using an innovative technique to regenerate the cobblestones in situ; renovation of the Place Stanislas in Nancy (see page 75) and; road refurbishment at the Château de Versailles, using heritage conservation techniques. PAPYRUS INVENTS THE WORKSITE OFFICE PAPYRUS INVENTS THE WORKSITE OFFICE Honoured by Le Monde Informatique and La Tribune and awarded the VINCI 2005 Innovation Award Management prize, Papyrus software enables Eurovia’s site foremen to enter worksite data directly into the company’s information system. The communications tool, supported by a PC tablet, enables operations managers to be simultaneously “at the offi ce and on the worksite”, reduces the amount of time they spend on administrative tasks and gives them access to a large number of functions (intranet, e-mail, shared documents, etc.) that extend and enhance their jobs. Papyrus has already been issued to 2,500 foremen in France and 500 in Germany and their Czech counterparts will be receiving it in 2006. The system is being rolled out as part of Eurovia’s overall endeavour to step up international information exchange, knowledge sharing and managerial synergies so as to optimise productivity across the group as a whole. 73
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ANNUAL REPORT 2005
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EUROVIA VINCI CONSTRUCTION KEY 2005
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VINCI, the world’s leading integr
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VINCI gains new momentum With the A
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Corporate management structures BOA
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All business lines contributed to t
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Complementary business lines operat
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A growth course set by the concessi
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VINCI share price up 47% in 2005 In
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THE 2006 SHAREHOLDERS’ CALENDAR 1
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2005 Highlights Bernard Val, Chairm
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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
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 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
Page 97 and 98: The fl oating swimming pool To meet
Page 99 and 100: Civil engineering revenue +11.2 % S
Page 101 and 102: Top. Restructured so as to reduce t
Page 103 and 104: In the United Kingdom and Germany,
Page 105 and 106: 101
Page 107 and 108: ÉDITORIAL Top. Standing alongside
Page 109 and 110: VINCI Immobilier will be developing
Page 111 and 112: A RESPONSIBLE GROUP 107
Page 113 and 114: Implementation of the Global Compac
Page 115 and 116: Priority areas and projects Limit t
Page 117 and 118: Commitments Guarantee the safety an
Page 119 and 120: COMBINING MOTIVATION AND SAFETY CFE
Page 121 and 122: DEVELOPING SKILLS VINCI’s trainin
Page 123 and 124: VINCI CONSTRUCTION SATISFACTION SUR
Page 125 and 126: 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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