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

3.5. 31 December 2004: transition of income statement (French GAAP to IFRS)
INCOME STATEMENT
(in millions of euros)
12/2004
French
GAAP
IFRS /
restatements/
Income
Disposal
of Saur (1)
Other
IFRS
reclassifications
12/2004
IFRS
Sales 23,402 (2,176) 16 21,242
Other revenues 1,114 (35) (938) 141
Taxes other than income tax (512) 43 (7) (476)
Personnel costs (4,827) (9) Share-based payments: (9) (2) 452 (26) (4,410)
Purchases and changes in inventories/external charges/other operating expenses (16,359) 16,359
Purchases used in production 3 670 (9,813) (9,140)
External charges (3) Finance leases: (2) 1,004 (5,644) (4,643)
Change in inventories used in production and property development (13) (13)
Other operating income and expenses 5 (3) (328) 597 274
Depreciation, amortisation and provisions (1,322) 14 (4) 138 (246) (1,416)
Share in earnings of unincorporated joint ventures 51 (51)
Operating profit 1,547
IFRS restatements and reclassifications 10 (232) 234
Current operating profit 1,547 10 (232) 234 1,559
Financial income and expenses (165) 17 148
Cost of net debt (3)
Mainly including liabilities
related to finance leases
2 (161) (162)
Other financial income and expenses (3) (29) (32)
Exceptional income and expenses 209 (209)
Income tax (519) (1) 18 2 (500)
Share of income in affiliated companies 42 (3) (2) 37
Goodwill amortisation (55) 28
Cancellation of straight-line
goodwill amortisation
12 15 (5)
Net profit of discontinued and held-for-sale operations (Saur) 25 IFRS impact with Saur deconsolidated 188 213
Net earnings 1,059 56 1,115
Group share 858 51 909
Minority interests’ share 201 5 206
(1) elimination of the impact of the operations of Saur (sold in December 2004) and Infomobile (sold in August 2004) and reclassification
of net income from disposal under the IFRS heading “Net profit of discontinued and held-for-sale operations”.
(2) stock option plans issued after 7 November 2002
(3) of which: - finance leases: 40 (IAS 17)
- inclusion of change in depreciation and amortisation in residual book value: (27) (IAS 16)
(4) of which : - cancellation of deferred charges: 9 (IAS 38)
- inclusion of finance leases: (34) (IAS 17)
- restatement for asset amortisation period and basis: 37 (IAS 16)
(5) to be reclassified as operating income
The +51 change under IFRS can be summarised as follows:
Net profit - Group share under French GAAP, year to 31 December 2004 858
No straight-line amortisation of goodwill under IFRS (excluding Saur) 23
Stock options: charge created for share-based payments under stock option plans at
Bouygues SA and TF1 (IFRS 2) (7)
Restatement of depreciation charges on buildings, equipment 16
(components/periods, etc.) and depreciable expenses
Additional IFRS restatement of gain on the disposal of Saur at end 2004, after resetting 21
negative translation reserves to zero as of 1 January 2004 (IFRS 1)
Other IFRS restatements (of which net deferred tax = (1)) (2)
Net profit attributable to the Group under IFRS, year to 31 December 2004 909
CONSOLIDATED FINANCIAL STATEMENTS
171