CFE - 2006 annual report - Vinci

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Philippe Ratynski Philippe Ratynski passed away in December 2006. He re- tired in June from CFE’s Board of Directors, feeling that he could no longer fulfi ll his duties because of the disease that was engulfi ng his body. Rarely in CFE’s history has a director made such a large contribution to the development of the company over such a short period (he was only appointed to the Board in 2002). Supporting the expansion of the group favoured by the new management team, he systematically listened, supported and provided encouragement within the Board of Directors with constantly renewed enthusiasm and consistent rigour. His premature death, at the age of 47, has touched all em- ployees of the CFE group and, of course, all members of the Board of Directors who have lost a colleague and a friend. Philippe Delaunois President of the Board of Directors 9
1 0 Key figures Jacques Ninanne Fabien De Jonge, Vincent Macharis IFRS Belgian Standards Data in millions of EUR 2006 2005 2004 2004 2003 2002 Revenue 1,164.0 975.4 854.1 854.4 793.4 796.9 Operating result 65.9 52.2 38.4 34.7 18.0 28.4 Profit before tax 57.3 39.9 28.5 27.0 28.6 20.1 Net profit of the group 40.7 25.5 21.8 16.1 20.8 10.2 Gross self-financing margin (1) 122.4 85.5 83.3 46.3 71.8 76.5 EBIT (2) 65.9 52.5 38.4 34.7 18.2 28.3 EBITDA (3) 125.5 90.0 89.4 70.5 54.5 60.7 Equity – part of the group (before distribution) 265.5 190.4 170.2 165.2 155.5 140.3 (1) Gross self-financing margin: see consolidated cash flow statement on page 111 of the consolidated financial report. (2) EBIT: operating result + income from non-current financial assets + result from associates. (3) EBITDA: EBIT + depreciation and impairments + other non-cash items (under IFRS). Ratios IFRS Belgian Standards Data in millions of EUR 2006 2005 2004 2004 2003 2002 EBIT/ revenue EBITDA/ revenue Net profit of the group/ Equity – part of the group Net profit of the group/ revenue 5.7% 5.4% 4.5% 4.1% 2.3% 3.5% 10.8% 9.2% 10.5% 8.3% 6.9% 7.6% 15.3% 13.4% 12.8% 9.8% 13.4% 7.3% 3.5% 2.6% 2.6% 1.9% 2.6% 1.3% C F E A N N U A L R E P O R T 2 0 0 6 I 1 2 6 t h C F E A N N U A L R E P O R T 2 0 0 6 I c o r p o r a t e f i n a n c i a l y e a r 1 2 6 t h c o r p o r a t e f i n a n c i a l y e a r
Page 1 and 2: Compagnie d’Entreprises CFE SA A
Page 4 and 5: Well-managed growth With a 19% incr
Page 6 and 7: Men and women serving the group ●
Page 8 and 9: July • Delivery of the renovated
Page 12 and 13: IFRS Belgian Standards Data in EUR
Page 14 and 15: from the left to the right: Patrick
Page 16 and 17: Workforce developments in the Const
Page 18 and 19: Last, but not least, we must emphas
Page 20 and 21: Evolution of the frequency rate - D
Page 22 and 23: Theme Commitments Initiatives Human
Page 24: 2 3
Page 27 and 28: 2 6 Overall view of the watertreatm
Page 29 and 30: 2 8 In the Netherlands, the work do
Page 31 and 32: 3 0 Koen Vande Voorde, 37 years Sit
Page 33 and 34: 3 2 Façade of “Résidence Theys
Page 35 and 36: 3 4 Extension of Dredging Internati
Page 37 and 38: 3 6 New all-purpose sports centre
Page 39 and 40: 3 8 Construction of an office build
Page 41 and 42: 4 0 Suite of offices for the Europe
Page 43 and 44: 4 2 Museum of Modern Art in Luxembo
Page 45 and 46: 4 4 Lorem André de Ipsum Koning do
Page 47 and 48: 4 6 Bernard Cols Bruno Lambrecht, C
Page 49 and 50: 4 8 Lorem Gérard Ipsum Bourelly, d
Page 51 and 52: 5 0 “Médiacité” business comp
Page 53 and 54: 5 2 “Sand Court” project for th
Page 55 and 56: 5 4 “Botanic” building in Bruss
Page 57 and 58: 5 6 Patrick Van Craen Damien Quinet
Page 59 and 60: 5 8 New lighting for the large hall
Page 61 and 62:
6 0 Saint-Michel clinic in Brussels
Page 63 and 64:
6 2 Erecting of catenaries by Engem
Page 65 and 66:
6 4
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6 6 from the left to the right: Mar
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6 8 The brand new trailer “Mariek
Page 71 and 72:
7 0 In Richard’s Bay, South Afric
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7 2 ● Venezuela DI further consol
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7 4 DEC was selected as one of the
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7 6 Financial report Corporate gove
Page 79 and 80:
7 8 Table of contents Corporate gov
Page 81 and 82:
8 0 Corporate governance 1. Composi
Page 83 and 84:
8 2 Bernard Huvelin VINCI 1, cours
Page 85 and 86:
8 4 Co-opted Director whose nominat
Page 87 and 88:
8 6 2. Operation of the Board of Di
Page 89 and 90:
8 8 2.2 The Appointments and Compen
Page 91 and 92:
9 0 3.3 Compensation of the Managin
Page 93 and 94:
9 2 Remuneration of the auditors of
Page 95 and 96:
9 4 Dredging & environment segment
Page 97 and 98:
9 6 Contribution to the net resultp
Page 99 and 100:
9 8 B. Risk factors 1. Risks common
Page 101 and 102:
1 0 0 1.3 Management and workforce
Page 103 and 104:
1 0 2 C. Insurance policy The CFE g
Page 105 and 106:
1 0 4 6. Discharge to be given to t
Page 107 and 108:
1 0 6 Definitions Associates Capita
Page 109 and 110:
1 0 8 Transactions in 2005 1. Const
Page 111 and 112:
1 1 0 Consolidated balance sheet Fo
Page 113 and 114:
1 1 2 Statement of changes in Equit
Page 115 and 116:
1 1 4 Notes to the consolidated fin
Page 117 and 118:
1 1 6 The Financial Statements prep
Page 119 and 120:
1 1 8 F. Goodwill 1. Goodwill Goodw
Page 121 and 122:
1 2 0 Leases of assets under which
Page 123 and 124:
1 2 2 P. Share capital Own shares p
Page 125 and 126:
1 2 4 T. Trade and other payables T
Page 127 and 128:
1 2 6 X. Derivative financial instr
Page 129 and 130:
1 2 8 Revenue (in thousand Euro) 20
Page 131 and 132:
1 3 0 Balance sheet at December 31
Page 133 and 134:
1 3 2 For the exercise 2005 Fair va
Page 135 and 136:
1 3 4 Income statement 4. Revenue f
Page 137 and 138:
1 3 6 9. Income tax expenses Recogn
Page 139 and 140:
1 3 8 10. Profit per share The basi
Page 141 and 142:
1 4 0 Assets items under lease Cert
Page 143 and 144:
1 4 2 14. Intangible assets other t
Page 145 and 146:
1 4 4 15. Investments available for
Page 147 and 148:
1 4 6 17. Other non current assets
Page 149 and 150:
1 4 8 21. Cash and cash equivalents
Page 151 and 152:
1 5 0 Movement in the fair value of
Page 153 and 154:
1 5 2 Interest rate risk The group
Page 155 and 156:
1 5 4 26. Financial debts As per De
Page 157 and 158:
1 5 6 29. Other commitments granted
Page 159 and 160:
1 5 8 • The group CFE sets up a t
Page 161 and 162:
1 6 0 List of the most important su
Page 163 and 164:
1 6 2 C F E F I N A N C I A L R E P
Page 165 and 166:
1 6 4 Statutory financial statement
Page 167 and 168:
1 6 6 Analysis of the income statem
Page 169:
1 6 8 The headquarter at your servi
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CFE - 2006 annual report - Vinci

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