VINCI - 2005 annual report

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CONSTRUCTION / ACTIVITY Soyuz project in French Guiana The European Space Agency awarded the construction of the ground infrastructure for the Soyuz programme in French Guiana to a consortium led by VINCI Construction Grands Projets. The €135 million contract covers construction of the preparation zone, a launch pad and a launch centre, with a 20,000 sq. metre built area and 86,000 sq. metres of roads. Work is to be completed for a fi rst launch scheduled at the end of 2008. VINCI companies have worked on a large number of projects at the Kourou site, including several launch complexes for Ariane launchers, since the 1960s. 96 VINCI 2005 ANNUAL REPORT DAMS, MARITIME WORKS. In Egypt, the Naga Hammadi dam project on the Nile, on which some 2,000 people are now working, entered full production. In Algeria the Ghrib dam extension project, involving the installation of 20 fusegates with a height of 4.50 metres to increase water retention capacity by 70 million cu. metres, got under way. On Reunion Island, a consortium made up exclusively of VINCI Construction companies won the €73 million contract to extend the island’s Port-Réunion commercial shipping port, which includes construction of a 635 metre pier with an underground cut-off wall. In New Caledonia, the group won the €61 million contract to build a port serving the future Goro Nickel mining operations in Prony Bay. In Qatar, DEME is performing the dredging work to build the Pearl of the Gulf artifi cial island and an airport. In Belgium, DEME also won a six-year renewal of its coastal maintenance contract. HYDRAULIC ENGINEERING. In France, business in the hydraulic engineering sector consists of a very large number of recurring local projects carried out by Group subsidiaries, alongside major projects such as utility network re-routing in conjunction with the tramway construction projects in such cities as Paris, Bordeaux and Nice. In a further demonstration of the company’s civil engineering capabilities applied to water treatment, VINCI Construction took part in the construction and/or modernisation of purifi cation plants (27 under construction or modernisation, in addition to 23 new orders) including the very large Valenton and Achères units in the Paris area. In the United Kingdom VINCI PLC signed a fi ve-year national framework agreement to renovate drinking water plants and sewage treatment works (£9 million in contracts awarded in 2005). The Group is also building the drinking water treatment plant in Hradiste, a city with a population of 250,000 in the Czech Republic; building the drinking water and sewer systems in Entebbe and Kabale, Uganda; renovating water systems in Jamaica; and building 11 pumping stations, 9 reservoirs and 8 water towers in Ouagadougou, Burkina Faso. In Libya, the Group is taking part in the third phase of the Great Man-Made River project, building two pumping stations with a unit capacity of one million cu. metres per day and two storage reservoirs. MAJOR ENERGY AND INDUSTRIAL FACILITIES. Several major projects called on the complementary expertise of VINCI Construction business units, particularly in the former French overseas territory regions. In French Guiana, the Group won the contract to build the launch pad for Soyuz launch vehicles, and in New Caledonia the €60 million contract to build the new Goro Nickel ore treatment plant comprising some 20 industrial structures spread over 10 hectares, in addition to orders for the port at this site and the ongoing work on a 2 x 50 MW coal-fi red conventional thermal power station. Activity was also strong on the developing market for liquefi ed natural gas (LNG) tanks, with a 140,000 cu. metre project under way in Qatar and two complexes with two 160,000 cu. metre unit capacity tanks to be built in Italy and Mexico. In the nuclear sector, the Group is providing the prestressing for the newgeneration European reactor (EPR) being built in Olkiluoto, Finland, and it is taking part in the construction of a test reactor (the RES project) in Cadarache in southern France and an underground laboratory (two 500 metre deep shafts) to be used for experiments in deep storage of nuclear waste.
Top. Restructured so as to reduce the volume of waste water treated, the Paris-region Achères purifi cation plant is being modernised and provided with a nitrifi cation unit comprising six batteries of 14 Biostyr ® and 22 Biofor ® fi lters. Bottom left. VINCI Construction Grands Projets is building the launch pad for Soyuz launch vehicles in French Guiana. Bottom right. In Libya, as part of the Great Man-Made River project (which will supply the coastal regions with water from aquifers in the southern part of the country), two pumping stations and two storage reservoirs are under construction. 97
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ANNUAL REPORT 2005
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EUROVIA VINCI CONSTRUCTION KEY 2005
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VINCI, the world’s leading integr
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VINCI gains new momentum With the A
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Corporate management structures BOA
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All business lines contributed to t
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Complementary business lines operat
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A growth course set by the concessi
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VINCI share price up 47% in 2005 In
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THE 2006 SHAREHOLDERS’ CALENDAR 1
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2005 Highlights Bernard Val, Chairm
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20 VINCI 2005 ANNUAL REPORT
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22 BUILDING AND MAKING A LONG-TERM
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KEY FIGURES In € millions and as
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VINCI CONCESSIONS WORLDWIDE EUROPE
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Top. ASF and Escota operate a netwo
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CONCESSIONS / ACTIVITÉ ASF recentl
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CONCESSIONS / BUSINESS REPORT 32 VI
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CONCESSIONS / BUSINESS REPORT Betwe
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A86 : DISCREET DOWN TO THE FINEST D
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The toll system of the future In Ma
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Top. Some 41,000 vehicles a day tra
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VINCI Park VINCI Park is present in
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44 VINCI 2005 ANNUAL REPORT and the
Page 50 and 51: Airport sector VINCI Concessions is
Page 52: CONSTRUCTION CONCESSIONS CONSTRUCTI
Page 55 and 56: ENERGY 51
Page 57 and 58: A leader in energy and information
Page 59 and 60: Top. For the Munich airport, German
Page 61 and 62: Acquisitions 16 companies acquired
Page 63 and 64: Top left. Design and implementation
Page 65 and 66: VINCI Energies at the Zénith conce
Page 67 and 68: ÉDITORIAL GRANIOU SUPPORTS NORTEL
Page 70 and 71: 66 LEADER IN INFRASTRUCTURE CONSTRU
Page 72 and 73: KEY FIGURES In € millions and as
Page 74 and 75: EUROVIA / BUSINESS REPORT Brisk gro
Page 76 and 77: MATERIALS: A STRATEGIC FACILITY IN
Page 78 and 79: EUROVIA / BUSINESS REPORT NOxer ®
Page 80 and 81: Top left. Roadworks in the village
Page 82 and 83: EUROVIA / BUSINESS REPORT Design &
Page 84: CONSTRUCTION EUROVIA CONSTRUCTION E
Page 87 and 88: CONSTRUCTION 83
Page 89 and 90: French market leader and a world ma
Page 91 and 92: Above. The Granite tower under cons
Page 93 and 94: VINCI Construction Grands Projets
Page 95 and 96: ÉDITORIAL A BUILDING OF THE FUTURE
Page 97 and 98: The fl oating swimming pool To meet
Page 99: Civil engineering revenue +11.2 % S
Page 103 and 104: In the United Kingdom and Germany,
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Page 107 and 108: ÉDITORIAL Top. Standing alongside
Page 109 and 110: VINCI Immobilier will be developing
Page 111 and 112: A RESPONSIBLE GROUP 107
Page 113 and 114: Implementation of the Global Compac
Page 115 and 116: Priority areas and projects Limit t
Page 117 and 118: Commitments Guarantee the safety an
Page 119 and 120: COMBINING MOTIVATION AND SAFETY CFE
Page 121 and 122: DEVELOPING SKILLS VINCI’s trainin
Page 123 and 124: VINCI CONSTRUCTION SATISFACTION SUR
Page 125 and 126: Other social indicators A RESPONSIB
Page 127 and 128: REMUNERATION Remuneration and socia
Page 129 and 130: LEARNING TO LEARN The VINCI Foundat
Page 131 and 132: EMERGENCY AID ACTIVITIES The VINCI
Page 133 and 134: FICHE VINCI PREQUALIFICATION AND IM
Page 135 and 136: Above: Since 2005, VINCI’s approv
Page 137 and 138: A BUILDING THAT USES LESS ENERGY VI
Page 139 and 140: ISO 14001 CERTIFICATION GROWTH 2004
Page 141 and 142: IMPROVING THE ENERGY EFFICIENCY OF
Page 143 and 144: Optimising waste management VINCI c
Page 145 and 146: Above: After rehabilitation, Eurovi
Page 147 and 148: B/ NOISE POLLUTION Eurovia 2005 200
Page 149 and 150: UN GROUPE RESPONSABLE / RESPONSABIL
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Opinion of one of the Statutory Aud
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FINANCIAL STATEMENTS FINANCIAL STAT
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27. Market value of fi nancial inst
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2.1 APPOINTMENTS AND FUNCTIONS OF C
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Alain Dinin Age: 55 • 1997-2008 N
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Yves-Thibault de Silguy (suite) Wil
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The other eleven Directors are prom
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- in respect of the Company’s int
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The following table shows the Direc
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When he retired, he received €1,2
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CORPORATE GOVERNANCE Options Option
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REPORT OF THE CHAIRMAN REPORT OF TH
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3.4. INTERNAL AUDIT The internal au
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The third step, in 2003 and 2004, i
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REPORT OF THE STATUTORY AUDITORS IN
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Outside France, VINCI Energies’ r
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1.3 NET PROFIT Net profi t attribut
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The Group’s fi nancial structure
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1.3 CONCESSIONS The main risks in c
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C. INSURANCE 1. GENERAL POLICY Give
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D. OTHER INFORMATION 1. INVESTMENT
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CONSOLIDATED FINANCIAL STATEMENTS C
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CONSOLIDATED FINANCIAL STATEMENTS E
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STATEMENT OF CHANGES IN CONSOLIDATE
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2.2 EARLY REDEMPTION OF THE 2002-20
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1.1 FIRST-TIME ADOPTION OF IFRS - M
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Joint venture partnerships created
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- when borrowing is not intended to
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Cash management financial assets Ca
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- Hedge of a net investment in a fo
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1.2.2 Breakdown of revenue by locat
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FY 2004 CONSOLIDATED FINANCIAL STAT
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FY 2004 CONSOLIDATED FINANCIAL STAT
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4. SEGMENT INFORMATION BY GEOGRAPHI
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5.3 SHARE-BASED PAYMENTS The expens
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The income arising in the period fr
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E. NOTES TO THE BALANCE SHEET 10. I
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12.2 IMPAIRMENT LOSSES ON OTHER NON
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CONSOLIDATED FINANCIAL STATEMENTS 1
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15. LEASED ASSETS Property, plant a
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20. CONSTRUCTION CONTRACTS 20.1 FIN
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The changes in capital in 2005 brea
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CONSOLIDATED FINANCIAL STATEMENTS I
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Changes in the period CONSOLIDATED
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24. PROVISIONS During the period, c
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By business line, the analysis of n
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. Other bonds Other bonds break dow
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d. Finance leases The table below s
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25.3.2 Cash and cash management fin
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CONSOLIDATED FINANCIAL STATEMENTS T
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Based on this position, a 1% increa
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26.3.3 Analysis of other foreign cu
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28. TRANSACTIONS WITH RELATED PARTI
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The maturities of contractual oblig
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31. REMUNERATION AND RELATED BENEFI
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promissory notes issued by Intertou
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CONSOLIDATED FINANCIAL STATEMENTS I
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(h) Reclassification under operatin
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1.5 SUMMARIES OF IMPACTS OF RESTATE
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2.3.2 Goodwill CONSOLIDATED FINANCI
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2.3.6 Fair value of derivatives CON
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2.4 RECONCILIATION OF BALANCE SHEET
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2.4.6 Trade and other current payab
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K. MAIN CONSOLIDATED COMPANIES AT 3
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CONSOLIDATED FINANCIAL STATEMENTS C
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CONSOLIDATED FINANCIAL STATEMENTS R
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1.3 OTHER FINANCIAL TRANSACTIONS Th
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3.2 EQUITY PARENT COMPANY FINANCIAL
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5. NET FINANCIAL DEBT The holding c
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PARENT COMPANY FINANCIAL STATEMENTS
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Meeting are determined by the Share
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3. INFORMATION ON VINCI’S SHARE C
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3.3 BREAKDOWN OF SHARE CAPITAL AND
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3.5 THE VINCI SHARE AND THE STOCK M
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3. FEES OF THE STATUTORY AUDITORS P
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9. Operating and fi nancial review
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In accordance with Article 212-13 o
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VINCI - 2005 annual report

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