CFE - 2006 annual report - Vinci

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5. Evaluation of measures taken by the company in response to the directive concerning insider trading and market manipulation CFE’s policy on this matter is specified in its corporate governance charter. A compliance officer has been named and an information program has been put in place aimed at upper management and persons who, through their job, have access to privileged information. The company systematically informs this group of the black-out periods and issues regular reminders of the general directives. 6. Transactions and other contractual relationships between the company, including related companies, and the Directors and executive officers The policy on this matter is specified in the corporate governance charter. There is no service contract binding the board members with CFE or with any of its subsidiaries. 7. Assistance agreement CFE concluded a service contract with its prime shareholder, VINCI Construction, on October 24, 2001. The fees owed by CFE for financial year 2006 amount to 1,190,000 Euro. This agreement allows CFE to access VINCI’s data bases and to benefit from the latter’s support in areas as varied as safety, techniques, human resources, sustainable development, risk analysis or financial support (consolidation). 8. Corporate controls The auditor is the company Deloitte, Reviseurs d’Entreprises, represented by Mr Rik Neckebroeck. The annual general meeting of May 6, 2004 renewed for a period of three years, ending on the annual general meeting of May 2007, the appointment of the auditor, Deloitte, Reviseurs d’Entreprises, represented by Mr Rik Neckebroeck. Remuneration for the CFE SA mandate is set at 135,000 Euro. In addition, during financial year 2006, the costs invoiced by Deloitte & Touche, tax advisors, concerning fiscal consulting amounted to 14,000 Euro. Deloitte audited the accounts of most of the companies in the CFE group. Their controls covered, respectively, 83% of the consolidated balance and 77% of consolidated sales and services in 2006. For the other main groups and subsidiaries, the auditor generally obtained the certification reports of the auditors of these units and/or interviews with them, and also performed certain additional checks. 9 1
9 2 Remuneration of the auditors of the group, including CFE SA: (in thousand Euro) Deloitte Others Audit Auditing, certifi cation, examination of individual and consolidated accounts Other auxiliary missions and other audit missions Amount % Amount % 510.7 78% 401.0 41% 35.7 5% 27.8 3% Audit subtotal 546.4 83% 428.8 44% Other services Legal, fi scal, corporate 82.0 12% 237.1 24% Other 30.2 5% 316.0 32% Other subtotal 112.2 17% 553.1 56% Total auditors fees 658.6 100% 981.9 100% 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
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 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: 9 0 3.3 Compensation of the Managin
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
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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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