VINCI - 2005 annual report

PROPERTY / BUSINESS REPORT
Brisk business activity
on the French property
development market
The Elige and Sorif companies merged on 1 January 2005 to form VINCI
Immobilier, which operates in France on all property development market
segments.
Number of housing starts
+33 %
Net profi t
+24 %
102
VINCI 2005 ANNUAL REPORT
VINCI Immobilier,
a major offi ce building
developer in Paris, operates
through its network of 11 regional locations throughout France in all segments
of the property development market: residential (housing and serviced
residences), offi ces, hotels and shopping centres. Building on its broad-based
capabilities, VINCI Immobilier supports public administrations and privatesector
operators in city centre revitalisation projects that combine housing,
commercial and retail development.
In 2005, transaction volume at VINCI Immobilier amounted to €545 million,
of which €347 million was accounted for by reservation of 1,713 housing
(purchase) and serviced residence (assisted living, business travel and tourism)
units and €198 million by commercial property transactions (presale
and property development contracts). VINCI Immobilier thus ranks among
the ten leading French property developers.
VINCI Immobilier revenue for the year amounted to €409 million and
operating profi t from ordinary activities stood at €33 million, compared to
€27 million in 2004 at equivalent structure.
Net profi t, at €21 million, accounted for 5% of revenue.
A VINCI IMMOBILIER DEVELOPMENT RECOGNISED
AT THE SALON DE L’IMMOBILIER D’ENTREPRISE
In 2005 the SIMI (Salon de l’Immobilier d’Entreprise) commercial property trade fair awarded its grand prize in the new
building category to Liberté 2, a 51,000 sq. metre (net overall surface) building with 1,000 parking spaces. VINCI Immobilier
took part in its development as client representative alongside the Di Fiore architecture fi rm. Built in Charenton le Pont in
the greater Paris area, the building is now occupied by 2,500 employees of Natexis Banques Populaires (photo). For VINCI Immobilier, another highlight of 2005
was the fi rst handover in the Axe Europe brief within the Euralille ZAC development zone in Lille that will ultimately comprise three offi ce buildings with a total
fl oor area of 19,300 sq. metres and a car park (which will be operated by VINCI Park). In the French regions, VINCI Immobilier Sud-Ouest handed over to the
Caisse d’Epargne de Midi-Pyrénees, in association with the Caisse des Dépôts, its fi rst major development in greater Toulouse - the Portes d’Espagne (7,800 sq.
metres of offi ces, 1,170 sq. metres of archive facilities and 313 parking spaces).