CFE - 2006 annual report - Vinci

Exercise 2005
(in thousand Euro)
Acquisition cost
Balance at the end of the previous
period
Land &
buildings
Installations
& equipments
Furniture
& fittings
Other assets Under
construction
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 o r p o r a t e f i n a n c i a l y e a r
Total
30,166 572,404 28,219 5,052 8,795 644,636
Exchange differences 74 2,444 229 (1) 57 2,803
Acquisitions through business
combinations
1,548 9,370 1,352 11 297 12,578
Acquisitions 778 32,872 2,318 21 58,989 94,978
Transfers from one asset to another 953 46,098 13 (80) (48,440) (1,456)
Disposals (1,374) (39,883) (1,913) - (223) (43,393)
Revaluations - 1,553 - - - 1,553
Balance at the end of the year 32,145 624,858 30,218 5,003 19,475 711,699
Depreciations & impairment
Balance at the end of the period (16,706) (352,700) (23,455) (2,374) 0 (395,235)
Exchange differences (16) (1,606) (170) 1 0 (1,791)
Acquisitions through business
combinations
(676) (7,074) (1,131) (5) 0 (8,886)
Depreciations (1,716) (37,003) (2,107) (1,079) 0 (41,905)
Transfers from one asset to another 535 (442) (3) 74 0 164
Disposals 1,701 38,329 1,828 0 0 41,858
Balance at the end of the period (16,878) (360,496) (25,038) (3,383) 0 (405,795)
Net carrying amount
At January, 1 2005 13,460 219,704 4,764 2,678 8,795 249,401
At December, 31 2005 15,267 264,362 5,180 1,620 19,475 305,904
As per December 31, 2006 the property, plant & equipment acquisitions amounts to 130,141 thousand Euro among which
124,265 thousand Euro were paid in 2006. The increase of investments in 2006 is mainly driven by DEME (119,525 thousand
Euro, being 91% of the total of the investments) that invested 53,634 thousand Euro (among which 41,500 thousand Euro were
already paid) in the suction dredges Brabo & Breydel (under construction), Marieke, Reynaert and Melina. The other signifi-
cant investments at DEME are related to its operations in the Middle East (26,823 thousand Euro), in pipes for an amount of
5,981 thousand Euro and in the environment field for an amount of 3,167 thousand Euro. The rest of the investments amount-
ing to 29,920 thousand Euro, represents spare parts and other small materials. The adoption of the component approach
at DEME increased the investments by 12,128 thousand Euro. Excluding DEME, the investments for the group CFE amount
to 11,620 thousand Euro and are mainly situated within the subsidiaries Engema Ltd, Van Wellen Ltd and Benelmat Ltd.
Depreciations on property, plant & equipment amount to 53,525 thousand Euro (2005: 41,905 thousand Euro).
The amount of property, plant & equipment constituting a caution for some borrowings is 68,890 thousand Euro (2005: 68,836
thousand Euro). The group CFE received approximatively 3,517 thousand Euro (2005: 1,340 thousand Euro) of compensations
for damages on property, plant & equipment.
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