- 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 11 and 12: Top to bottom, left to right : Xavi
- Page 13 and 14: 2005 cash fl ow from operations* (2
- Page 15 and 16: 100% VINCI CONCESSIONS 23% 65% 100%
- Page 17 and 18: Integrating ASF and developing syne
- Page 19 and 20: STOCK MARKET AND SHAREHOLDER BASE T
- Page 21 and 22: € 80 70 60 50 5. 1. 2. 4. 3. 88%
- Page 23 and 24: Top to bottom: The Granite Tower in
- Page 25 and 26: 2005 BUSINESS REPORT 21
- Page 27 and 28: CONCESSIONS 23
- Page 29 and 30: Europe’s leading transport infras
- Page 31 and 32: Motorway infrastructure The acquisi
- Page 33 and 34: Number of transactions 605million C
- Page 35 and 36: Above. The A8 is operated by Escota
- Page 37 and 38: Basse def Top. The Allainville toll
- Page 39 and 40: Top. The opening of the Ecommoy-Tou
- Page 41 and 42: Liber-t electronic toll system 35,0
- Page 43 and 44: Top. More than 64 million transacti
- Page 45 and 46: Charilaos Trikoupis Bridge 12,300 v
- Page 47 and 48: Above. Present in 12 countries, VIN
- Page 49 and 50: 2. 3. * of which Paris 27 %. 3. 2.
- Page 51 and 52: Above. VINCI Concessions has been m
- Page 54 and 55: CUSTOMISED SERVICES AT THE JUNCTION
- Page 56 and 57: KEY FIGURES In € millions and as
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ENERGY / BUSINESS REPORT Strong res
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SAFETY: EXEMPLARY RESULTS IN GERMAN
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ENERGY / BUSINESS REPORT Despite a
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Top left. In the Paris region, VINC
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ENERGY / BUSINESS REPORT 62 Graniou
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CONSTRUCTION ENERGY CONSTRUCTION EN
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ROADS 67
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An integrated road industry operato
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Top. In Bordeaux, as on many other
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Revenue +11 % in France Communicati
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Top. The low production and applica
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Revenue +29 % in the Czech Republic
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ÉDITORIAL EUROVIA HONOURED IN THE
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ALL THE EXPERTISE OF NETWORK CONSTR
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CHIFFRES KEY CHIFFRES FIGURES CLÉS
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CONSTRUCTION / ACTIVITY Outperformi
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Top. Reinforcement work on 285 km o
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CONSTRUCTION / ACTIVITY The megacut
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GROUP SYNERGIES IN THE HOSPITAL SEC
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COHESTRAND, THE HIGH PERFORMANCE ST
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CONSTRUCTION / ACTIVITY Soyuz proje
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ass_def WASTE RECOVERY AND RECYCLIN
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CONSTRUCTION / PERSPECTIVES / PERSP
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PROPERTY / BUSINESS REPORT Brisk bu
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Above. In Boulogne Billancourt, the
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106
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A RESPONSIBLE GROUP / THE SUSTAINAB
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A RESPONSIBLE GROUP / THE SUSTAINAB
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A RESPONSIBLE GROUP / SOCIAL RESPON
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A RESPONSIBLE GROUP / SOCIAL RESPON
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PASSPORT TO EMPLOYMENT: TRAINING CE
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A RESPONSIBLE GROUP / SOCIAL RESPON
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Castor subscribers Average VINCI sa
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New employees by business line Conc
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A RESPONSIBLE GROUP / CIVIC INVOLVE
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THE HALL OF MIRRORS RESTORED TO ITS
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A RESPONSIBLE GROUP / CUSTOMERS AND
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A RESPONSIBLE GROUP / CUSTOMERS AND
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A RESPONSIBLE GROUP / ENVIRONMENTAL
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THE FIRST ISO 14001 CERTIFIED CIVIL
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A RESPONSIBLE GROUP / ENVIRONMENTAL
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Top. Waste management (above, a sor
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A RESPONSIBLE GROUP / ENVIRONMENTAL
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Protection of natural resources A/
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A RESPONSIBLE GROUP / R&D AND INNOV
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A RESPONSIBLE GROUP / R&D AND INNOV
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148 VINCI 2005 ANNUAL REPORT
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TABLE OF CONTENTS Corporate governa
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CORPORATE GOVERNANCE VINCI’s gene
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Dominique Bazy Age: 54 • 1996-200
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156 Serge Michel Age: 79 • 1984-1
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Proposed appointments to the Board
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2.3 POSITION OF COMPANY OFFICERS Th
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3.2.4 The Appointments Committee Te
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5.3 REMUNERATION OF EXECUTIVE COMPA
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6.2 RECORD OF SHARE SUBSCRIPTION AN
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6.3. OPTIONS GRANTED OR EXERCISED I
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2. THE OBJECTIVES OF INTERNAL CONTR
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4.2. INTERNAL CONTROL WITH RESPECT
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ment (authorisation of new business
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REPORT OF THE BOARD OF DIRECTORS A.
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1.2 OPERATING PROFIT FROM ORDINARY
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1.5 OTHER CASH FLOWS After taking a
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B. RISK FACTORS 1. OPERATING RISKS
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3. EXPOSURE TO RAW MATERIAL PRICES
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3.2 DAMAGE INSURANCE Offi ce buildi
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3. THE GROUP’S MARKETS: SEASONAL
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CONSOLIDATED IFRS BALANCE SHEET Ass
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CONSOLIDATED IFRS CASH FLOW STATEME
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NOTES TO THE CONSOLIDATED FINANCIAL
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4.3 ENERGIES VINCI Energies has con
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motorway network, the A19, the Rion
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These estimates assume the operatio
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Finance leases Assets acquired unde
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Provisions for completion losses on
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C. INFORMATION BY SEGMENT Segment i
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FY 2005 (in € millions) Concessio
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3. OTHER SEGMENT INFORMATION RELATI
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Reconciliation between segment info
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D. NOTES TO THE INCOME STATEMENT 5.
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7.2 OTHER FINANCIAL EXPENSES (in
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9. EARNINGS PER SHARE Earnings per
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The main goodwill items at 31 Decem
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222 Project Control and regulation
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14. PROPERTY, PLANT AND EQUIPMENT M
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The net effect of ASF, which has be
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19. WORKING CAPITAL REQUIREMENT 31/
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21. CASH MANAGEMENT FINANCIAL ASSET
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22.4 SHARE-BASED PAYMENTS 22.4.1 Sh
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2005 2004 Tranche 1 st four-month 3
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The breakdown is as follows: 31/12/
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Expenses recognised in respect of d
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25. NET FINANCIAL DEBT AND FINANCIN
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The main features of these bonds ar
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c. Loans from financial institution
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All the companies shown in the abov
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26.1 MANAGEMENT OF INTEREST RATE RI
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Finance leases 31/12/2005 Currency
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26.2.3 Management of financial cove
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27. MARKET VALUE OF FINANCIAL INSTR
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28.3 OTHER RELATED PARTIES The info
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29.3 OTHER COMMITMENTS RECEIVED The
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G. DISPUTES AND ARBITRATION To the
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H. MAIN IMPACTS OF IFRS ON THE KEY
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1.1 OPERATING PROFIT The operating
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1.3 NET EXCEPTIONAL INCOME / (EXPEN
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2.2 BALANCE SHEET EQUITY AND LIABIL
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Reclassifications: (a) Investment g
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2.3.8 Current financial assets (in
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2.4.3 Non-current financial debt (i
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3. NET FINANCIAL DEBT UNDER THE IFR
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4.1 RECONCILIATION OF CASH FLOWS FR
- Page 284 and 285:
280 VINCI 2005 ANNUAL REPORT Consol
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282 VINCI 2005 ANNUAL REPORT Consol
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PARENT COMPANY FINANCIAL STATEMENTS
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3. SUMMARY BALANCE SHEET (in € mi
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4. CASH FLOW STATEMENT (in € mill
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6. FIVE-YEAR FINANCIAL SUMMARY 2001
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B. REPORT OF THE STATUTORY AUDITORS
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As part of this sale, VINCI Constru
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GENERAL INFORMATION ABOUT THE COMPA
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2. RELATIONS BETWEEN THE PARENT COM
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3.2 AUTHORISATIONS GRANTED TO THE B
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Changes in the breakdown of share c
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PERSONS RESPONSIBLE FOR THE REGISTR
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REGISTRATION DOCUMENT TABLE OF CORR
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19. Related party transactions 255-
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VINCI - 1, COURS FERDINAND-DE-LESSE