2005 Annual Report - Touax

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Financial information concerning the assets, financial position and results of the issuer annual report 2005 nomic environment and that is subject to risks and returns that are different from those of components operating in other economic environments. Factors that shall be considered in identifying geographical segments include: (a) similarity of economic and political conditions; (b) relationships between operations in different geographical areas; (c) proximity of operations; (d) special risks associated with operations in a particular area; (e) exchange control regulations; and (f) the underlying currency risks. §13 of IAS 14 also indicates that “The risks and returns of an enterprise are influenced both by the geographical location of its operations (where its products are produced or where its service delivery activities are based) and also by the location of its markets (where its products are sold or services are rendered). The definition allows geographical segments to be based on either: (a) the location of an enterprise’s production or service facilities and other assets; or (b) the location of its markets and customers.” The geographic segments depend on the location of the markets and correspond to the location of the assets. In the modular buildings, river barges and freight railcars businesses, the location of the services, the location of the markets and the location of the customers are identical. In the shipping containers business, the location of the markets differs from the location of the customers and the location of the services. The location of the markets corresponds to the location of the assets. Under the terms of standard IAS 14, the geographic regions in the shipping containers business correspond to the location of the assets. Shipping containers are regularly transported from one country to another in line with international commercial flows across hundreds of commercial routes. The Group neither knows nor controls the movements or location of leased containers. On the basis of the container Leasing contracts in existence as at 31 December 2005, containers may arrive at ports in over 100 countries throughout the world. Consequently it is impossible to separate the revenues and assets of the shipping containers business by geographic region within the meaning of standard IAS 14. The shipping containers business is classified in the international zone. note 2. Scope of consolidation note 2.1. Changes in the scope of consolidation Number of consolidated companies 2005 2004 French companies 3 3 Foreign companies 27 27 TOTAL 30 30 The shares in TOUAX Rail Ltd held by Almafin, representing 49% of the voting rights, and the shares in Almafin Rail Investment Ltd, representing 51% of the voting rights, were acquired by TOUAX SCA on 30 November 2005. The companies belonging to the TOUAX RAIL Ltd group (TOUAX Rail Ltd, TOUAX Rail Finance Ltd, TOUAX Rail Romania SA and CFCL TOUAX Llp) and Almafin Rail Investment Ltd are no longer under joint control and have consequently been fully consolidated since 30 November 2005. These companies are controlled 100%. For the record, these companies were proportionally consolidated up to 30 November 2005. This acquisition has an impact of €10,977,000 on revenues and of €750,000 on the result. If the acquisition had taken place on 1 January 2005, the Group’s revenues and result would have been €229,923,000 and €4,586,000 respectively, compared to €221,992,000 and €4,083,000 according to the consolidated financial statements. 62 Consolidated accounts
note 2.2. List of consolidated companies in 2005 Control Consolidation Company name Address percentage method TOUAX SCA Investment and holding company for investment and operating companies engaged in transport and leasing of equipment Tour Arago – 5, rue Bellini 92806 PUTEAUX LA DÉFENSE cedex (FRANCE) CFCL TOUAX Llp 1013 Centre Road 51% FC Railcar investment, leasing and sales company WILMINGTON, DELAWARE 19805 (USA) CS DE JONGE BV Amstelwijckweg 15 100% FC River transportation company 3316 BB DORDRECHT (NETHERLANDS) EUROBULK BELGIUM BVBA BC Leuven zone 2 – Interleuvenlaan – 62 Bus 10 97.9346% FC River transportation company B3001 LEUVEN (BELGIUM) EUROBULK TRANSPORTMAATSCHAPPIJ BV Amstelwijckweg 15 100% FC River transportation and equipment management company 3316 BB DORDRECHT (NETHERLANDS) GOLD CONTAINER Corporation 169E Flager Street – Suite 730 100% FC Shipping container investment, leasing and sales company MIAMI, FL 33131 (USA) GOLD CONTAINER FINANCE Llc 169E Flager Street – Suite 730 100% FC Shipping container investment company MIAMI, FL 33131 (USA) GOLD CONTAINER GmbH Lessingstrasse 52 – Postfach 1270 100% FC Modular building leasing and sales company 21625 NEU WULMSTORF (GERMANY) INTERFEEDER-DUCOTRA BV Amstelwijckweg 15 77.1359% FC River transportation company 3316 BB DORDRECHT (NETHERLANDS) MARSTEN/THG MODULAR LEASING Corp WORKSPACE PLUS D/B/A 801 Douglas Avenue – Suite 207 100% FC Modular building investment, leasing and sales company ALTAMONTE SPRINGS, FL 32714 (USA) PORTABLE STORAGE SERVICES Llc 169E Flager street – Suite 731 51% FC Shipping container investment, leasing and sales company MIAMI, FL 33131 (USA) SIKO CONTAINERHANDEL GmbH Lessingstrasse 52 – Postfach 1270 100% FC Modular building investment, leasing and sales company 21625 NEU WULMSTORF (GERMANY) SIKO POLSKA Sp.z.o.o 21 Limbowa St – 80-175 GDANSK (POLAND) 100% FC Modular building investment, leasing and sales company TOUAX BV Graanweg 13 (Havennr M240) 100% FC Modular building investment, leasing and sales company 4782 PP MOERDIJK (NETHERLANDS) TOUAX CAPITAL SA C/0 Progressia – 18 rue Saint Pierre 99.99% FC Investment company 1700 FRIBOURG (SWITZERLAND) annual report 2005 Consolidated accounts 63
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2005 annual report your operational
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The message of the general partners
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contents Shipping containers 4 Modu
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Modular buildings A flexible servic
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Freight railcars Services for indus
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tion chart River barges FRANCE Sein
Page 13: Stock market Distribution of capita
Page 16 and 17: Responsible persons Persons respons
Page 18 and 19: Selected financial information Sele
Page 20 and 21: Risk factors annual report 2005 Aga
Page 22 and 23: Risk factors annual report 2005 the
Page 24 and 25: Risk factors annual report 2005 Gro
Page 26 and 27: Information concerning the issuer H
Page 28 and 29: Information concerning the issuer M
Page 30 and 31: Brief survey of activities annual r
Page 32 and 33: Organigram Parent-subsidiary relati
Page 34 and 35: Organigram The guarantees and other
Page 36 and 37: Owned real estate, plant and equipm
Page 38 and 39: Information on trends Main trends u
Page 40 and 41: Profit forecasts or estimates Repor
Page 42 and 43: Remuneration and benefit En 2004 (
Page 44 and 45: Main shareholders Breakdown of shar
Page 46 and 47: Main shareholders annual report 200
Page 48 and 49: annual report 2005 Financial inform
Page 54 and 55: Financial information concerning th
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Financial information concerning th
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Additional information Subscribed c
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Additional information annual repor
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Significant contracts There are no
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Reports of the Managers Analysis by
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Reports of the Managers annual repo
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Reports of the Managers Results of
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Reports of the Managers Regulated a
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Reports of the Managers annual repo
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Report of the Supervisory Board and
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Recent press releases annual report
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Draft resolutions Combined General
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Draft resolutions annual report 200
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Draft resolutions 2 A variable port
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Table of contents annual report 200
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The present document was filed with
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Tour Arago. 5 rue Bellini 92806 Put
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2005 Annual Report - Touax

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