CFE - 2006 annual report - Vinci

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● The Island of Reunion SDI, the French subsidiary of DEME, is part of the consortium that was awarded an important contract for the extension of Port Est. The scope consists of the construction of a 650 m long quay wall, widening and deepening of the existing port and slope protection works. During 2006 the new heavy-duty backhoe dredge “Pinocchio” was used on this job. ● India DI completed the dredging in the Gautami-Godavari estuary and reclamation of the site platform for the new Reliance natural gas facility in August 2006. In the meantime DEME has been awarded (by the same client) the contract for trenching, backfill and rock protection works for the installation of a pipeline bundle to con- nect the Dhirubai gasfield with the onshore base along the same Gautami-Godavari estuary. In late 2006, DI/ISD started dredging and reclamation works in the framework of the construction of the new port of Gangavaram on the East Coast of India. Completion is planned in 2007. ISD was awarded a maintenance-dredging contract for a three-year period in the port of Mundra. A first campaign was executed in two phases in 2006. ● Qatar The following works are under construction in the Doha area by Qatar Dredging Company (QDC), an associated company of the DEME-group, which is a partnership of DI with the Qatari Government and the company United Development Company (UDC): • The dredging and reclamation works, dry earth movement and shore protection works for the construction of the prestigious Pearl Qatar Project, an artificial peninsula in the shape of a splendid jewel off the coast of the Qatari Capital. The bulk of the works were completed by end 2006. A limited final dredging with the cutter “Al Mahaar” is planned for March 2007 with actual completion of the works planned for April 2007. • Dredging and reclamation of the platform for the New Doha International Airport. The works involved the dredging and reclamation of 60 million m³ of sand to create 1,700 ha of new land. QDC is the leader of this dredging consortium. ● The United Arab Emirates DI has started the reclamation of new land at Al Raha Beach for building and infrastructure development. It consists of the creation of a new waterfront of some 450 hectares for 120,000 residents. Dredging and reclamation of industrial sites for the extension of the port of Gangavaram in India. 7 1 Beach nourishment on the island of Texel in the Nehterlands, involving amongst others the construction of a submerged dam. The works have been executed with the brand new trailer “Marieke”.
7 2 ● Venezuela DI further consolidated its presence in 2006 with the execution of two maintenance-dredging assignments in the navigation channel of the Orinoco River and realign- ment works in the Maracaibo channel. Moreover, three new maintenance-dredging contracts were awarded to DI in joint venture. They cover maintenance dredging in the Orinoco exterior, the section Matanzas–Boca Grande of the Orinoco and the Maracaibo Lake channel. ● Far East Asia South In Singapore, DIAP continued, in joint venture, on the largest land reclamation project ever in the area. The works continued during 2006 on a considerably reduced scale with the award of a variation contract for reclamation of Pulau Ular, which is being successfully executed. The client has also instructed the execution of new priority areas such as Chemoil, Teijin, Universal Terminal, Horizon and the Megayard. The rock division of DIAP (JTRC), acting in joint venture, continued with the revetment works. The slope trimming vessel “Rhea” and other auxiliary plant of DIAP completed their newly allocated rock works in June 2006. The rock works for Pulau Ular were also awarded to JTRC and are being executed. At the end of October 2006, the trailer “Pallieter” com- menced works on sand re-handling for the Jurong Phase 4 joint venture for a period of 12 weeks. ● Far East Asia North In the People’s Republic of China, a new contract was signed with Guangzhou Dredging Company. As a result the jumbo trailer “Nile River” was mobilised to the PRC and will start operations in January 2007. In South Korea, DI completed, in joint venture, an important dredging contract within the framework of the construction of the Pusan Container terminal. The works, to be executed as a subcontractor to Samsung Corporation, comprised winning sand at a distance of 100 km in deep waters (100 m) and reclamation to create the site platform of the container terminal. ● Australasia In Australia, DREDECO’s activities included: • Deepening of the shipping channel into Port Adelaide by 2 m and widening by 10 m. • The award by the end of 2006, in joint venture, of the Port Kembla inner harbour-dredging contract. The works will be completed in 2007. In Papua New Guinea, DREDECO continued a dredging and environmental rehabilitation project on behalf of OK Tedi Mining Ltd. Tideway Marine and Offshore Contractors bv Fall Pipe Rock Placement Works In 2006, Tideway´s D.P. Fall Pipe Vessels “Rollingstone” and “Seahorse” have been executing rock placement services for pipeline and cable protection and stabiliza- tion for several major offshore pipe lay contractors and oil and gas companies. They were active in the Gulf of Mexico and the North Sea Area. In the North Sea, rock-dumping interventions were made in UK, Norwegian and Dutch waters on behalf of Talisman, Wintershall, Shell and CNR. Landfall / Shore Approach Construction Works Pipeline isolation and bypass operations were performed on the Frigg pipelines system. Other projects included the Subsea Bypass Project at Saint-Fergus; the dredging and backfilling of a trench for a 34” pipeline crossing the Gulf of Thailand towards the landfall near Map Ta Phut; trenching and backfilling and landfall construction for 5 pipelines in Kuwait; and in Spain a dredging contract for the flooding of a casting basin for the Adriatic LNG project in Algeciras. Scaldis Salvage and Marine Contractors nv Scaldis Salvage and Marine Contractors, in which DEME has a 55% stake, was active on various important salvage and wreck removal projects and heavy-lift operations throughout Europe, in particular, in France where Scaldis obtained in a joint venture the wreck removal works of the sunken container carrier “Rokia Delmas” off the coast of 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 Ile de Ré in France. 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
Page 22 and 23: Theme Commitments Initiatives Human
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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
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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: 7 0 In Richard’s Bay, South Afric
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 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
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1 2 2 P. Share capital Own shares p
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1 2 4 T. Trade and other payables T
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1 2 6 X. Derivative financial instr
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1 2 8 Revenue (in thousand Euro) 20
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1 3 0 Balance sheet at December 31
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1 3 2 For the exercise 2005 Fair va
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1 3 4 Income statement 4. Revenue f
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1 3 6 9. Income tax expenses Recogn
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1 3 8 10. Profit per share The basi
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1 4 0 Assets items under lease Cert
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1 4 2 14. Intangible assets other t
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1 4 4 15. Investments available for
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1 4 6 17. Other non current assets
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1 4 8 21. Cash and cash equivalents
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1 5 0 Movement in the fair value of
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1 5 2 Interest rate risk The group
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1 5 4 26. Financial debts As per De
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1 5 6 29. Other commitments granted
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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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