A N N U A L R E P O R T - Bouygues
A N N U A L R E P O R T - Bouygues
A N N U A L R E P O R T - Bouygues
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PARENT COMPANY FINANCIAL STATEMENTS<br />
in French GAAP<br />
INCOME STATEMENT (in millions of euros)<br />
CASH FLOW STATEMENT (in millions of euros)<br />
2005 2004 2003<br />
SALES 64 68 62<br />
Other operating revenues 18 11 10<br />
Purchases and changes in inventory<br />
Taxes other than income tax (2) (2) (2)<br />
Personnel costs (46) (52) (50)<br />
Other operating expenses (44) (42) (33)<br />
Depreciation, amortisation, impairment<br />
and provisions, net (13) (13) (11)<br />
OPERATING LOSS (23) (30) (24)<br />
Financial income and expenses 209 343 189<br />
PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS 186 313 165<br />
Exceptional items 113 218 (7)<br />
Income tax expense (38) 55 58<br />
NET PROFIT 261 586 216<br />
2005 2004<br />
A - OPERATING ACTIVITIES<br />
Cash flow (from operations, before changes in working capital) 213 294<br />
Net profit for the year 261 586<br />
Amortisation, depreciation and impairment of non-current assets, net (12) (154)<br />
Charges to / reversals of provisions, net (52) 9<br />
Transfers of deferred charges (5) (6)<br />
Gain / losses on disposals of non-current assets 21 (141)<br />
Change in working capital (305) 71<br />
Current assets (249) (48)<br />
Current liabilities (56) 119<br />
NET CASH GENERATED BY / (USED IN) OPERATING ACTIVITIES (92) 365<br />
B - INVESTING ACTIVITIES<br />
Increases in non-current assets<br />
Acquisitions of intangible assets and property, plant and equipment<br />
Acquisitions of long-term investments (158) (45)<br />
(158) (45)<br />
Disposals of non-current assets (1) 26 802<br />
Investment, net (132) 757<br />
Other long-term financial investments, net 475 88<br />
Amounts receivable / payable in respect of non-current assets, net (1) 795 (797)<br />
NET CASH GENERATED BY / (USED IN) INVESTING ACTIVITIES 1,138 48<br />
C - FINANCING ACTIVITIES<br />
Change in shareholders’ equity (2) (18) (1,727)<br />
Exceptional payout made in 2005 (2) (1,664) 1,664<br />
Dividends paid (249) (166)<br />
Change in debt 754 357<br />
NET CASH GENERATED BY / (USED IN) FINANCING ACTIVITIES (1,177) 128<br />
CHANGE IN NET CASH POSITION (A+B+C) (131) 541<br />
Cash position at 1 January 753 212<br />
Other non-monetary flows<br />
Change during the year (131) 541<br />
NET CASH POSITION AT 31 DECEMBER 622 753<br />
(1) 2004: includes €796 million receivable from PAI partners on sale of Saur, paid 15 February 2005<br />
(2) 2004: includes €1,664 million exceptional payout, paid 7 January 2005<br />
210
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