CFE - 2006 annual report - Vinci

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Consolidated income statement For the year ended 31 December (in thousand Euro) Note <strong>2006</strong> 2005 Revenue 2 1,164,019 975,406 Revenue from auxiliary activities 4 47,584 30,296 Purchases (704,771) (580,351) Wages, salaries & social charges 5 (207,534) (185,460) Other operating charges 4 (179,482) (144,954) Depreciations 11 (53,922) (42,755) Operating result 65,894 52,182 Gross finance cost 6 (15,041) (11,728) Financial income from cash investments 6 4,582 3,761 Other financial charges and income 7 1,877 (4,284) Financial result (8,582) (12,251) Profit before taxes for the period 57,312 39,931 Income tax expense 9 (15,663) (13,377) Result of the year 41,649 26,554 Share in the result of associated companies 16 357 329 Profit (including minority interests) for the period 42,006 26,883 Minority interests 8 (1,301) (1,381) Net profit of the group 40,705 25,502 Net profit per share (EUR) (diluted and basic) 68.9 43.8 1 0 9
1 1 0 Consolidated balance sheet For the year ended 31 December (in thousand Euro) Note <strong>2006</strong> 2005 Intangible assets 14 4,977 2,784 Goodwill 13 8,575 7,595 Property, plant and equipment 11 379,907 305,904 Property investments 12 24,493 24,667 Investments in associates 16 3,103 6,042 Other non current fi nancial assets 15 8,712 13,975 Fair value of derivative instruments assets 25 1,930 1,948 Other non current assets 17 10,296 16,912 Deferred tax assets 9 2,926 5,758 Total non current assets 444,919 385,585 Inventories 19 98,190 95,252 Trade receivables and other operating receivables 20 520,380 465,553 Other current assets 12,185 19,050 Non current asset held for sale 1,052 1,286 Current fi nancial assets 5,780 55 Cash and cash equivalents 21 140,724 88,356 Total current assets 778,311 669,552 Total assets 1,223,230 1,055,137 Issued capital 21,375 19,000 Share premium 61,463 18,213 Reserves 1,549 2,786 Retained earnings 184,618 150,023 Translation differences (3,542) 427 Equity - part of the group 265,463 190,449 Minority interest 4,158 8,688 Equity 269,621 199,137 Pensions and employee benefi ts 23 16,269 17,049 Provisions 24 2,709 2,224 Other non current liabilities 9,519 7,326 Financial debts 26 137,027 153,890 Fair value of derivative instruments liabilities 25 1,016 3,845 Deferred tax liabilities 9 12,439 20,646 Total non current liabilities 178,979 204,980 Provisions for termination losses 24 22,601 15,421 Provisions for other current risks 24 21,552 23,012 Trade payables & other operating liabilities 20 370,042 367,115 Tax liability due for payment 39,150 25,053 Current fi nancial debts 26 151,182 114,430 Other current liabilities 20 170,103 105,989 Total current liabilities 774,630 651,020 Total equity and liabilities 1,223,230 1,055,137 C F E F I N A N C I A L R E P O R T 2 0 0 6 I 1 2 6 t h C F E F I N A N C I 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
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Compagnie d’Entreprises CFE SA A
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Well-managed growth With a 19% incr
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Men and women serving the group ●
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July • Delivery of the renovated
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Philippe Ratynski Philippe Ratynski
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IFRS Belgian Standards Data in EUR
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from the left to the right: Patrick
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Workforce developments in the Const
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Last, but not least, we must emphas
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Evolution of the frequency rate - D
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Theme Commitments Initiatives Human
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2 3
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2 6 Overall view of the watertreatm
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2 8 In the Netherlands, the work do
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3 0 Koen Vande Voorde, 37 years Sit
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3 2 Façade of “Résidence Theys
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3 4 Extension of Dredging Internati
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3 6 New all-purpose sports centre
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3 8 Construction of an office build
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4 0 Suite of offices for the Europe
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4 2 Museum of Modern Art in Luxembo
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4 4 Lorem André de Ipsum Koning do
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4 6 Bernard Cols Bruno Lambrecht, C
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4 8 Lorem Gérard Ipsum Bourelly, d
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5 0 “Médiacité” business comp
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5 2 “Sand Court” project for th
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5 4 “Botanic” building in Bruss
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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
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Page 67 and 68: 6 6 from the left to the right: Mar
Page 69 and 70: 6 8 The brand new trailer “Mariek
Page 71 and 72: 7 0 In Richard’s Bay, South Afric
Page 73 and 74: 7 2 ● Venezuela DI further consol
Page 75 and 76: 7 4 DEC was selected as one of the
Page 77 and 78: 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: 1 0 8 Transactions in 2005 1. Const
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
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1 6 0 List of the most important su
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1 6 2 C F E F I N A N C I A L R E P
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1 6 4 Statutory financial statement
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1 6 6 Analysis of the income statem
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1 6 8 The headquarter at your servi
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CFE - 2006 annual report - Vinci

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