2013-vinci-annual-report

In 2013, previously recognised impairment allowances against treasury shares classified as non-current assets were reversed for €175 million.
This change results from the increase in the average market price of VINCI shares from €35.37 in December 2012 to €46.12 in December 2013.
Number of shares
296 VINCI 2013 ANNUAL REPORT
Decreases:
disposals and
transfers
Reclassifications:
transfers between
accounts 31/12/2013
Increases:
31/12/2012 buy-backs
Shares bought back to use in payment or exchange 36,075,962 4,854,417 (904,484) 40,025,895
Shares bought back to be cancelled
Subtotal directly held treasury shares 36,075,962 4,854,417 – (904,484) 40,025,895
Liquidity account
Subtotal non-current financial assets 36,075,962 4,854,417 – (904,484) 40,025,895
Shares intended to be transferred to the beneficiaries of share purchase
option and performance share plans
5,026,096 800,000 (2,011,604) 904,484 4,718,976
Subtotal current assets 5,026,096 800,000 (2,011,604) 904,484 4,718,976
Total cash transactions on VINCI shares 41,102,058 5,654,417 (2,011,604) – 44,744,871
At 31 December 2013, VINCI held 44,744,871 treasury shares directly, for a total of €1,795 million (representing 7.44% of the share capital).
4,718,976 shares (€189 million) were allocated to covering performance share plans and employee share ownership transactions, while the
balance of 40,025,895 shares (€1,606 million) corresponds to shares intended to be either exchanged as part of acquisition transactions or
sold.
4. Deferred expenses
(in € millions) 31/12/2012 New deferrals Amortisation 31/12/2013
Deferred expenses 27 1 (7) 21
Deferred expenses at 31 December 2013 also include the balance of issuance costs and redemption premiums relating to bond issues and
the €500 million perpetual subordinated loan issued in 2006.
5. Equity
(in € millions) Capital Share premium
Other reserves
and regulated
provisions Profit or loss Total
Equity at 31/12/2012 1,443 7,591 10,221 256 19,511
Appropriation of 2012 net income and payment of dividends (398) (256) (654)
Interim dividend in respect of 2013 (308) (308)
Increases in share capital 61 724 785
Net income for 2013 1,060 1,060
Tax-regulated provisions
Equity at 31/12/2013 1,504 8,316 9,515 1,060 20,395
At 31 December 2013, VINCI’s share capital amounted to €1,504 million, represented by 601,697,972 shares of €2.5 nominal, all conferring
the same rights.
The share capital increases in the period, amounting to €785 million, are the result of subscriptions to the Group savings plan for €259 million,
the exercise of subscription options for a total of €85 million and the payment of part of the dividend in shares for €441 million (see section
A “Key events in the period”).
Dividends paid in 2013 amounted to €962 million, corresponding to the final dividend in respect of 2012 for €654 million (€1.22 per share)
and the interim dividend in respect of 2013 for €308 million (€0.55 per share).
VINCI has reserves (share premiums, merger and contribution premiums, reserves other than the statutory reserve) of an amount greater
than the amount of all the treasury shares it owned directly or indirectly at 31 December 2013.