A N N U A L R E P O R T - Bouygues

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INNOVATION, RESEARCH AND DEVELOPMENT TF1 TV channel TF1 is continuing its development in a fast-evolving sector. R&D is focused on: • audiovisual content. The activity of TF1 comprises a large component dedicated to creation and innovation in terms of entertainment programmes, drama, and identification of new concepts and strategic partners; • marketing research and development. The marketing, advertising and broadcasting departments work on audience ratings, process and analyze audience results, and carry out viewer behaviour studies and analyses; • production, broadcasting, and reception facilities technologies. The technologies and internal resources department is thus working on process digitization and on the portability of reporting equipment. In the last few years a number of key technical advances have been made: • broadband television (Dream TV project, then the TPS L commercial offering); • Process News for producing the TF1 and LCI news programmes. The entire production setup and broadcasting system of TF1 are now digitized; • the mobile unit for reporting teams (filming, cutting, satellite transmission); • satellite broadcasting by statistical multiplexing. The main topics currently being examined are: • television on mobile phones, by means of experiments with panels of test users. Some of these experiments are being carried out jointly with Bouygues Telecom; • the TF1 high-definition TV offering; • the future of television under IP and convergence with the internet. Bouygues Telecom B o u y g u e s Telecom has set up a very comprehensive system for its R&D drive and has placed innovation among the top seven fields for action. The New Technologies Department carries out most of the R&D work: • competitive intelligence and showrooms, • patenting, • follow-up of innovative projects, • organizing the scientific committee, • co-ordination of technological roadmaps. A ‘use and customs laboratory’ studies the behaviour of the ‘digital household’. An Innovation forum, comprising an i n n o v a t i o n c o m p e t i t i o n stimulates staff to ever greater achievements and rewards the best projects every year. The third of these forums rewarded fourteen of a total of 300 submissions. Some of them, like the flat microwave beam (‘FH plat’) using an antenna smaller than a sheet of A4 paper, have made outstanding contributions to sustainable development. When it came into existence in 1996, Bouygues Telecom’s ambition was to become the benchmark operator on the personal-communication market. By creating talk plans and providing a free answerphone service, Bouygues Telecom put mobile phones within the reach of the general public. In an extension to this approach, the company has been offering Neo, the first unlimited subscription for access to all mobile and landline operators, since March 2006. On the technological front, Bouygues Telecom has never stopped innovating. It was the first French operator to offer DHR (Digital High Resolution) sound, a technology providing a quality of communication that is comparable to that of a landline. There have also been a great many other achievements: • Lucie: virtual assistant, • folding aerial to facilitate maintenance, • testing and qualification of terminals, • integration of push-to-talk communication (‘walkie-talkie’ mode), • integration of i-mode, • e-messaging, • base stations with autonomous power supplies (wind turbines, solar panels, fuel cells). Current developments are targeting: • mobile video. Experiments with test users began in 2005 and will continue through 2006; • landline/mobile convergence; • ‘post Edge’ broadband; • contactless applications; • push to X; • hyperpersonalization. The technical culture of construction businesses, which has for many years been firmly anchored in people’s minds, has over time been enriched by a striving for innovation linked to the appearance and rapid evolution of new technologies in telecoms and the media. The Bouygues group ranks customer-oriented innovation and creativity high among its fundamental values. 106
Legal and financial information Corporate governance 108 Remuneration of corporate officers Stock options 126 Share ownership 131 Stock market 133 Capital 135 Results of Bouygues SA 140 Legal information 142 Annual publications 144
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BOUYGUES 2005 A N N U A L R E P O R
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CONTENTS Chairman’s statement 2 M
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CHAIRMAN'S STATEMENT cellent year f
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Bouygues Telecom Tons directs Logot
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with the announcement of our annual
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KEY FIGURES FINANCIAL HIGHLIGHTS (
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NET DIVIDEND PER SHARE: €0.90 (up
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Business activities Bouygues Constr
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ACTOR > Excellent commercial and fi
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uildings and offices was stable, wi
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Gautrain link project, South Africa
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PROPERTY DEVELOPER > Further growth
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• the Allée des Oliviers in Mont
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Poland, which generated sales of
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IN ROADWORKS > Sharp rise in sales
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the performance of contracts under
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Two major projects were completed i
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SION GROUP IN FRANCE > Biggest incr
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eginning to tire. The subsidiary’
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ments and very good viewing figures
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Bouygues Telecom Tons directs Logot
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Bouygues Telecom Logotype BT Quadri
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Bouygues Telecom Logotype BT Quadri
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Bond issue On 22 July 2005, Bouygue
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Sustainable development Sustainable
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PMENT IN THE GROUP Our culture is r
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THE GROUP diseases at the Treichvil
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culty to enter the labour market, e
Page 57 and 58: ing position in this area. While th
Page 59 and 60: Bouygues Bâtiment Ile-de-France, f
Page 61 and 62: Private Construction QSE ® plans T
Page 63 and 64: erly constructed, supervised, teste
Page 65 and 66: teams. The workforce increased by 2
Page 67 and 68: The sustainable development committ
Page 69 and 70: Internships and apprenticeships App
Page 71 and 72: ■ Internal communication: promoti
Page 73 and 74: ing and construction waste. In 2005
Page 75 and 76: Nanotechnologies to support technol
Page 77 and 78: Messages for children on TF1 After
Page 79 and 80: tional risks in order to raise awar
Page 81 and 82: Example of the local impact of the
Page 83 and 84: Bouygues Telecom Tons directs Logot
Page 87 and 88: Bouygues Telecom Logotype BT Quadri
Page 95 and 96: its transmitters. Thus, if a radio
Page 97 and 98: dual exchange rate risk arising fro
Page 99 and 100: Interest rate hedging Maturity 2006
Page 101 and 102: competition undertakings relating t
Page 103 and 104: assessments. The Group uses all leg
Page 105 and 106: Innovation, research and developmen
Page 107: H AND DEVELOPMENT • modelling (ha
Page 111 and 112: DEPUTY CHIEF EXECUTIVE OFFICERS Exp
Page 113 and 114: Expertise / Experience Principal po
Page 121 and 122: devoted an item on its agenda to a
Page 123 and 124: 1.3.3. Selection Committee The Sele
Page 125 and 126: is a centralised and formalised sys
Page 127 and 128: Challenger Express, intended for se
Page 129 and 130: A. Dupont P. Le Lay Y. Gabriel A. P
Page 131 and 132: 2. REPORT ON THE ALLOCATION AND EXE
Page 133 and 134: SHARE OWNERSHIP 1. CHANGES IN SHARE
Page 135 and 136: STOCK MARKET 1. BOUYGUES ON THE STO
Page 137 and 138: CAPITAL 1. GENERAL INFORMATION 1.2.
Page 139 and 140: 2. ADDITIONAL REPORT ON THE USE OF
Page 141 and 142: Transactions carried out other than
Page 143 and 144: 2. FIVE-YEAR FINANCIAL SUMMARY CAPI
Page 145 and 146: 3.4. Double voting rights (Article
Page 147 and 148: MISCELLANEOUS INFORMATION Date of p
Page 149 and 150: MISCELLANEOUS INFORMATION Date of p
Page 151 and 152: 7 November 2005 from 31 October to
Page 153 and 154: Financial statements CONSOLIDATED F
Page 155 and 156: CONSOLIDATED INCOME STATEMENT (in m
Page 157 and 158: CHANGES IN CONSOLIDATED SHAREHOLDER
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NOTE 1: SIGNIFICANT EVENTS OF THE Y
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■ Business combinations Business
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■ Leases: Items of property, plan
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2.8. Financial instruments Some gro
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Services carried out on behalf of c
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3.2. December 2004: financial state
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3.3. 31 December 2004: comparative
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3.5. 31 December 2004: transition o
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4.2. Movements during the period 4,
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4.2.3. Goodwill 4,618 ■ Movement
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4.2.5. Other non-current financial
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5.2. Advances and down-payments on
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6.2.1. Attributable to the Group (I
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2 - Fair value remeasurement reserv
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8.3. Deferred tax assets and liabil
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9.3. Liquidity at 31 December 2005
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Information about construction cont
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NOTE 15: INCOME TAX EXPENSE (570) 1
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17.2. Analysis by business segment:
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17.4. Income statement by function
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18.1.2. Currency hedges ■ Analysi
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19.3. Other commitments 19.5. Conti
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20.2.2. Defined-benefit plans ■ N
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20.3. Employee share ownership NOTE
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NOTE 23: AUDITORS’ FEES The table
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NOTE 25: PRINCIPAL EXCHANGE RATES N
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PARENT COMPANY FINANCIAL STATEMENTS
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NOTES TO THE PARENT COMPANY FINANCI
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Estimated useful lives and deprecia
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NOTE 7: COMPOSITION OF SHARE CAPITA
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NOTE 14: GROUP TAX ELECTION AND INC
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Annual general meeting of 27 April
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BOARD OF DIRECTORS' REPORTS BOARD O
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This delegation is granted to the B
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AUDITORS' REPORTS AUDITORS’ GENER
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AUDITORS’ REPORT IN ACCORDANCE WI
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Agreements to buy and sell Bouygues
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AUDITORS’ REPORT ON THE REDUCTION
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RECONSTITUTION OF INVESTMENT CERTIF
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Consequently, we ask you, subject t
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I. Analysis of the relative value o
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DRAFT RESOLUTIONS 1. ORDINARY PART
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plies with a code of conduct recogn
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• thirteenth resolution (Authoris
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CERTIFICATE OF RESPONSIBILITY Havin
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