CFE - 2006 annual report - Vinci
CFE - 2006 annual report - Vinci CFE - 2006 annual report - Vinci
Fair value The fair value is the amount to which an asset item can be changed, or to which an obligation can be concluded, between well-informed parties disposed to conclude a transaction according to the principle of competitive market (by reference to a technical method of valorisation). The table hereafter show the fair value of all financial derivative instruments issued: (in thousand Euro) Carrying amount 2006 Fair Value 2006 Carrying amount 2005 Fair Value 2005 “Interests swap” - cash flow hedge: - - - - Assets - - - - Liabilities 48 48 231 231 “Interests swap” - held for trading: Assets 992 992 - - Liabilities 251 251 1,042 1,042 “Forward exchange contracts” - cash flow hedge: Assets 614 614 - - Liabilities 457 457 2,505 2,505 “Cap” - held for trading Assets 323 323 1,948 1,946 Liabilities 259 259 67 66 Evolution of the impact of financial instruments on Equity (in thousand Euro) 2006 2005 Hedge reserve in opening equity 1,699 5,943 Amount recognized in equity (238) (1,705) Amount recognized in result (1,000) (1,648) Fair value amount participation held for sale in result (891) Hedge reserve in closing equity 461 1,699 Effective interest rates and analysis of rates before and after hedge The fixed (variable) effective average rate before derivatives amounts to 3.89% (2005: 3.53%) for borrowings and other financial debts. The fixed (variable) effective average rate after derivatives amounts to 4.32% (2005: 4.08%) for borrowings and other financial debts. The effective average rate for borrowings related to finance leases at the end of 2006 amounts to 4.23%. 1 5 3
1 5 4 26. Financial debts As per December 31, 2006 financial debts (excluding finance lease debts) are detailed as follow: (in thousand Euro) Within the year Between 1 and 5 years After 5 years Total long term or within the year Subordinated loans 33,720 147 33,867 Financial institutions 24,144 91,748 24,152 140,044 Other debts 1,747 1,747 Total financial debts – long term 57,864 93,642 24,152 175,658 Financial institutions 65,088 Bank overdrafts 25,336 Total financial debts – short term 90,424 As per December 31, 2005 financial debts (excluding finance lease debts) are detailed as follow: (in thousand Euro) Within the year Between 1 and 5 years After 5 years Total long term or within the year Subordinated loans 1,859 5,807 7,666 Financial institutions 22,328 102,291 29,798 154,417 Other debts 1,930 1,930 Total financial debts – long term 24,187 110,028 29,798 164,013 Financial institutions 74,934 Bank overdrafts 14,345 Total financial debts – short term 89,279 Carrying amounts are not significantly different from the fair value. Outstanding debts amounts by currency are: (in thousand Euro) 2006 2005 Euro 167,009 155,631 US Dollar 5,937 6,738 Indian rupee 1,103 1,644 Other currencies 1,609 - Total long term debts 175,658 164,013
- Page 103 and 104: 1 0 2 C. Insurance policy The CFE g
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- Page 107 and 108: 1 0 6 Definitions Associates Capita
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- Page 113 and 114: 1 1 2 Statement of changes in Equit
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- Page 127 and 128: 1 2 6 X. Derivative financial instr
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- Page 131 and 132: 1 3 0 Balance sheet at December 31
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- Page 135 and 136: 1 3 4 Income statement 4. Revenue f
- Page 137 and 138: 1 3 6 9. Income tax expenses Recogn
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- Page 141 and 142: 1 4 0 Assets items under lease Cert
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- Page 147 and 148: 1 4 6 17. Other non current assets
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- Page 157 and 158: 1 5 6 29. Other commitments granted
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- Page 161 and 162: 1 6 0 List of the most important su
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- Page 165 and 166: 1 6 4 Statutory financial statement
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26. Financial debts<br />
As per December 31, <strong>2006</strong> financial debts (excluding finance lease debts) are detailed as follow:<br />
(in thousand Euro)<br />
Within<br />
the year<br />
Between<br />
1 and 5 years<br />
After<br />
5 years<br />
Total long<br />
term or within<br />
the year<br />
Subordinated loans 33,720 147 33,867<br />
Financial institutions 24,144 91,748 24,152 140,044<br />
Other debts 1,747 1,747<br />
Total financial debts – long term 57,864 93,642 24,152 175,658<br />
Financial institutions 65,088<br />
Bank overdrafts 25,336<br />
Total financial debts – short term 90,424<br />
As per December 31, 2005 financial debts (excluding finance lease debts) are detailed as follow:<br />
(in thousand Euro)<br />
Within<br />
the year<br />
Between<br />
1 and 5 years<br />
After<br />
5 years<br />
Total long<br />
term or within<br />
the year<br />
Subordinated loans 1,859 5,807 7,666<br />
Financial institutions 22,328 102,291 29,798 154,417<br />
Other debts 1,930 1,930<br />
Total financial debts – long term 24,187 110,028 29,798 164,013<br />
Financial institutions 74,934<br />
Bank overdrafts 14,345<br />
Total financial debts – short term 89,279<br />
Carrying amounts are not significantly different from the fair value.<br />
Outstanding debts amounts by currency are:<br />
(in thousand Euro) <strong>2006</strong> 2005<br />
Euro 167,009 155,631<br />
US Dollar 5,937 6,738<br />
Indian rupee 1,103 1,644<br />
Other currencies 1,609 -<br />
Total long term debts 175,658 164,013
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