VINCI - 2005 annual report

More documents

Recommendations

Info

EUROVIA / BUSINESS REPORT NOxer ® barrier The NOxer ® pollution-reducing noise barrier developed at Eurovia’s research centre in Bordeaux-Mérignac, helps cut peak pollution by converting nitrogen oxides (NOx) produced on major thoroughfares into stable water-soluble nitrogen compounds. In 2005, the innovative warm mix with Aspha-Min ® process was applied on a large scale on some 30 projects. 74 VINCI 2005 ANNUAL REPORT Continuing to develop high-performance environment-related products, Eurovia installed the NOxer ® barrier for the fi rst time on the Paris ring road and in western France. In 2005 the company also applied the warm mix with Aspha-Min ® barrier for the fi rst time on the Paris ring road and process on a large scale, using it on some thirty projects. Eurovia’s recycling expertise was confi rmed with the award, for the fi rst time in France, of the CE 2+ mark to aggregates made from recycled household waste bottom ash produced in three Paris-area Group subsidiaries, which simultaneously received ISO 9001 certifi cation for their 15 production sites. Western Europe IN GERMANY, where the market remained diffi cult, Eurovia GmbH recorded a slight increase in revenue and stabilised its earnings thanks to brisk business activity in the second half. The year’s major projects included construction of a 7 km section of the B96 federal highway in Mahlov (Brandenburg). Eurovia GmbH has been substantially reorganised to cope with the recession affecting the market for several years now and is back on track to take advantage of the expected resumption of investment in motorways and return to growth. These investments will more particularly involve A-Modell motorway widening projects (560 km of motorways, accounting for a total investment of €5 billion over a fi ve-year period). The fi rst bids will be placed in 2006. IN THE UNITED KINGDOM, Ringway recorded a substantial increase in revenue (+12.9% at constant scope and exchange rate) and an improvement in its earnings. 75% of its business activity is conducted under some 30 medium- and long-term (3 to 12 year) contracts, averaging revenue of €15 million per year and involving road maintenance and related services (winter maintenance, maintenance of green spaces and public lighting, etc.). Ringway’s leadership on this buoyant market was further strengthened by the award of the Worcestershire County road maintenance contract (covering a period of four and a half years and with a value of some €25 million per year) and the renewal of the Peterborough (fi ve years, €3.4 million per year) and Wiltshire (fi ve years, €30 million per year) contracts. The British subsidiary also strengthened its position on the road construction market by acquiring TE Beach, a company based in the southern city of Dartford which also does substantial business on the London market. TE Beach employs 400 people and generates annual revenue of €70 million. THE PLACE STANISLAS RETURNED TO PEDESTRIANS Renovated on the occasion of its 250th anniversary, the Place Stanislas in Nancy, a historic landmark, was surfaced with 11,000 sq. metres of natural paving slabs and cobblestones by Eurovia’s teams in Lorraine and then closed to automobile traffi c for good and handed back to pedestrians. Eurovia supported the cultural events that were held in connection with this renovation. A “Memory Book”, containing a history of the square, construction drawings and messages from local residents and restoration teams, was buried under the pavement for the benefi t of future generations. VINCI Energies illuminated this architectural jewel dating back to the Enlightenment.
Top. The low production and application temperature of warm mix with Aspha-Min ® reduces emissions of greenhouse gases. On the Champs-Elysées in Paris, the process was employed for the fi rst time during the events staged to support Paris’s bid for the 2012 Olympic Games. ÉDITORIAL 75
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 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 76 and 77: MATERIALS: A STRATEGIC FACILITY IN
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
Page 127 and 128: REMUNERATION Remuneration and socia
Page 129 and 130:
LEARNING TO LEARN The VINCI Foundat
Page 131 and 132:
EMERGENCY AID ACTIVITIES The VINCI
Page 133 and 134:
FICHE VINCI PREQUALIFICATION AND IM
Page 135 and 136:
Above: Since 2005, VINCI’s approv
Page 137 and 138:
A BUILDING THAT USES LESS ENERGY VI
Page 139 and 140:
ISO 14001 CERTIFICATION GROWTH 2004
Page 141 and 142:
IMPROVING THE ENERGY EFFICIENCY OF
Page 143 and 144:
Optimising waste management VINCI c
Page 145 and 146:
Above: After rehabilitation, Eurovi
Page 147 and 148:
B/ NOISE POLLUTION Eurovia 2005 200
Page 149 and 150:
UN GROUPE RESPONSABLE / RESPONSABIL
Page 151 and 152:
Opinion of one of the Statutory Aud
Page 153 and 154:
FINANCIAL STATEMENTS FINANCIAL STAT
Page 155 and 156:
27. Market value of fi nancial inst
Page 157 and 158:
2.1 APPOINTMENTS AND FUNCTIONS OF C
Page 159 and 160:
Alain Dinin Age: 55 • 1997-2008 N
Page 161 and 162:
Yves-Thibault de Silguy (suite) Wil
Page 163 and 164:
The other eleven Directors are prom
Page 165 and 166:
- in respect of the Company’s int
Page 167 and 168:
The following table shows the Direc
Page 169 and 170:
When he retired, he received €1,2
Page 171 and 172:
CORPORATE GOVERNANCE Options Option
Page 173 and 174:
REPORT OF THE CHAIRMAN REPORT OF TH
Page 175 and 176:
3.4. INTERNAL AUDIT The internal au
Page 177 and 178:
The third step, in 2003 and 2004, i
Page 179 and 180:
REPORT OF THE STATUTORY AUDITORS IN
Page 181 and 182:
Outside France, VINCI Energies’ r
Page 183 and 184:
1.3 NET PROFIT Net profi t attribut
Page 185 and 186:
The Group’s fi nancial structure
Page 187 and 188:
1.3 CONCESSIONS The main risks in c
Page 189 and 190:
C. INSURANCE 1. GENERAL POLICY Give
Page 191 and 192:
D. OTHER INFORMATION 1. INVESTMENT
Page 193 and 194:
CONSOLIDATED FINANCIAL STATEMENTS C
Page 195 and 196:
CONSOLIDATED FINANCIAL STATEMENTS E
Page 197 and 198:
STATEMENT OF CHANGES IN CONSOLIDATE
Page 199 and 200:
2.2 EARLY REDEMPTION OF THE 2002-20
Page 201 and 202:
1.1 FIRST-TIME ADOPTION OF IFRS - M
Page 203 and 204:
Joint venture partnerships created
Page 205 and 206:
- when borrowing is not intended to
Page 207 and 208:
Cash management financial assets Ca
Page 209 and 210:
- Hedge of a net investment in a fo
Page 211 and 212:
1.2.2 Breakdown of revenue by locat
Page 213 and 214:
FY 2004 CONSOLIDATED FINANCIAL STAT
Page 215 and 216:
FY 2004 CONSOLIDATED FINANCIAL STAT
Page 217 and 218:
4. SEGMENT INFORMATION BY GEOGRAPHI
Page 219 and 220:
5.3 SHARE-BASED PAYMENTS The expens
Page 221 and 222:
The income arising in the period fr
Page 223 and 224:
E. NOTES TO THE BALANCE SHEET 10. I
Page 225 and 226:
12.2 IMPAIRMENT LOSSES ON OTHER NON
Page 227 and 228:
CONSOLIDATED FINANCIAL STATEMENTS 1
Page 229 and 230:
15. LEASED ASSETS Property, plant a
Page 231 and 232:
Page 233 and 234:
20. CONSTRUCTION CONTRACTS 20.1 FIN
Page 235 and 236:
The changes in capital in 2005 brea
Page 237 and 238:
CONSOLIDATED FINANCIAL STATEMENTS I
Page 239 and 240:
Page 241 and 242:
Changes in the period CONSOLIDATED
Page 243 and 244:
24. PROVISIONS During the period, c
Page 245 and 246:
By business line, the analysis of n
Page 247 and 248:
. Other bonds Other bonds break dow
Page 249 and 250:
d. Finance leases The table below s
Page 251 and 252:
25.3.2 Cash and cash management fin
Page 253 and 254:
CONSOLIDATED FINANCIAL STATEMENTS T
Page 255 and 256:
Based on this position, a 1% increa
Page 257 and 258:
26.3.3 Analysis of other foreign cu
Page 259 and 260:
28. TRANSACTIONS WITH RELATED PARTI
Page 261 and 262:
The maturities of contractual oblig
Page 263 and 264:
31. REMUNERATION AND RELATED BENEFI
Page 265 and 266:
promissory notes issued by Intertou
Page 267 and 268:
CONSOLIDATED FINANCIAL STATEMENTS I
Page 269 and 270:
(h) Reclassification under operatin
Page 271 and 272:
1.5 SUMMARIES OF IMPACTS OF RESTATE
Page 273 and 274:
2.3.2 Goodwill CONSOLIDATED FINANCI
Page 275 and 276:
2.3.6 Fair value of derivatives CON
Page 277 and 278:
2.4 RECONCILIATION OF BALANCE SHEET
Page 279 and 280:
2.4.6 Trade and other current payab
Page 281 and 282:
Page 283 and 284:
K. MAIN CONSOLIDATED COMPANIES AT 3
Page 285 and 286:
CONSOLIDATED FINANCIAL STATEMENTS C
Page 287 and 288:
CONSOLIDATED FINANCIAL STATEMENTS R
Page 289 and 290:
1.3 OTHER FINANCIAL TRANSACTIONS Th
Page 291 and 292:
3.2 EQUITY PARENT COMPANY FINANCIAL
Page 293 and 294:
5. NET FINANCIAL DEBT The holding c
Page 295 and 296:
PARENT COMPANY FINANCIAL STATEMENTS
Page 297 and 298:
Page 299 and 300:
Page 301 and 302:
Meeting are determined by the Share
Page 303 and 304:
3. INFORMATION ON VINCI’S SHARE C
Page 305 and 306:
3.3 BREAKDOWN OF SHARE CAPITAL AND
Page 307 and 308:
3.5 THE VINCI SHARE AND THE STOCK M
Page 309 and 310:
3. FEES OF THE STATUTORY AUDITORS P
Page 311 and 312:
9. Operating and fi nancial review
Page 313 and 314:
In accordance with Article 212-13 o
show all

VINCI - 2005 annual report

Create successful ePaper yourself

Delete template?

Save as template?