VINCI - 2005 annual report

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GROUP SYNERGIES IN THE HOSPITAL SECTOR Work on the Army hospital in Toulon started in 2004 and handover is scheduled in April 2007. This is one of the largest hospital projects currently under construction in France. A close partnership among three VINCI Construction companies (Campenon Bernard Méditerranée, Sogea Sud-Est TP, Sovame) and two VINCI Energies business units (Tunzini Aix, Degréane) made it possible to optimise the cost of the project and comply with budget requirements set out by the contracting authority, the Ministry of Defence. Regional VINCI teams are responsible for 70% of the works packages in this project, for which the overall budget is €115 million. Bottom. Under a PPP, the Chilean government awarded to VINCI Construction Grands Projets the design, fi nancing, construction, equipment and management of three prisons in Santiago, Puerto Montt and Valdivia. 92 VINCI 2005 ANNUAL REPORT
The fl oating swimming pool To meet the requirements of the City of Paris, which wants the swimming pool to be a key part of the amenity upgrade under way on the banks of the Seine, the structure was carefully designed to limit operating costs and protect the environment. The swimming pool not only fl oats, it can also be moved, so that every fi ve years it can be careened for maintenance of its metal components. Building revenue +21 % CONSTRUCTION / ACTIVITY the Salle 3000 hall in Lyon, the Zenith concert hall in Nantes, the Palais Omnisports sports facility in Toulon and the fl oating swimming pool in Paris. PPPs were increasingly being used, as were other new forms of contracts; this gave new impetus to activity growth in a number of important segments. In the fi eld of security, VINCI Constructon built 21 gendarmerie stations under BEA long-term administrative leases, as well as three penitentiaries for juveniles and an administrative detention centre. In the United Kingdom, VINCI PLC built the Kent police headquarters in Medway under a PFI (Private Finance Initiative) and took part in the national prison refurbishment programme under a contract with a value of some €50 million per year. In Chile, the Group is building three prisons, which it will be managing under a PPP for a period of 20 years. In the education sector, beyond conventional calls for tender there was a considerable increase in activity in the United Kingdom under contracts awarded by the Jarvis company with a value of nearly £100 million. Following on from renovation contracts for schools in Stafford and Sandwell, VINCI PLC began work, in a partnership, on several schools in Derby. In Germany, after winning, in 2004, a very large PPP contract to renovate 43 schools in the Offenbach district (€295 million) and then manage them for 15 years, SKE signed a similar contract with a value of €47 million with the municipality of Bedburg near Cologne. In the health care sector, taking advantage of the Hôpital 2007 plan in France, VINCI Construction continued or started work on several major projects, often in synergy with VINCI Energies business units handling the technical equipment: the Army hospital in Toulon in southern France (see opposite); the hospitals in Sarreguemines in eastern France, Bayonne in southwestern France, and Lunel in southern France; the maternity and children’s hospital in Lyons in eastern France; the polyclinic in Blois in central France; and the Conception clinic in Marseilles in southern France. In the United Kingdom, the Group is carrying out a major hospital renovation project with a value of £60 million in Liverpool. Overseas, it is building the teaching hospital logistics centre in Point à Pitre, Guadeloupe and carrying out the structural work on the Mangot-Vulcin hospital in Le Lamentin, Martinique. The year’s record orders also included the future national television complex in Vietnam (33,000 sq. metres on fi ve levels), which will house some 15 production studios and be built as a turnkey project under a €61 million contract. 93
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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
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22 BUILDING AND MAKING A LONG-TERM
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KEY FIGURES In € millions and as
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VINCI CONCESSIONS WORLDWIDE EUROPE
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Top. ASF and Escota operate a netwo
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CONCESSIONS / ACTIVITÉ ASF recentl
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CONCESSIONS / BUSINESS REPORT 32 VI
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CONCESSIONS / BUSINESS REPORT Betwe
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A86 : DISCREET DOWN TO THE FINEST D
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The toll system of the future In Ma
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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 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: ÉDITORIAL A BUILDING OF THE FUTURE
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,
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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
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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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