VINCI - 2005 annual report

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A RESPONSIBLE GROUP / ENVIRONMENTAL RESPONSIBILITY Our environmental responsibility VINCI’s environmental policy refl ects its determination to take into account the impact of its activities at the various life cycle stages of its products and services – design, construction, operation – and to reduce any pollution they may cause. The Group’s expertise as a designer-constructor enables it to develop comprehensive solutions that combine economic effi ciency and environmental performance. Implementing this policy depends on the empowerment of all Group employees and on consultation with stakeholders. Commitments Combat climate change Preserve natural resources Optimise waste management Reduce energy consumption Prevent pollution Protect the natural environment 132 VINCI 2005 ANNUAL REPORT Preventing and anticipating climate change The environmental impact of the construction industry is measured primarily by its consumption of resources (materials and energy) and by the emission of greenhouse gases. With a view to improving effi ciency in both these areas, VINCI Construction has adopted an approach that considers the Examples of actions taken in 2005 ‰ Creation of VINCI “climate” task force. ‰ 105 environmental innovations proposed by employees for the VINCI 2005 Innovation Awards Competition. ‰ 6.6 million tonnes of material recycled Eurovia. ‰ Environmental training increased by a factor of 2.5. overall life cycle of a building and the impact of man-made structures on the environment. In a segment where they are particularly active, VINCI companies have sound customer references in the fi eld of high environmental quality (HQE ® ) construction. They work alongside French and other European authorities to promote this type of approach, which improves the eco-effi ciency of buildings. Most of VINCI Energies’ business units operate in the industrial and service sectors, which are the source of over one-third of all greenhouse gas emissions in France. ‰ Introduction of global waste management system in the Paris region. ‰ Continuation of the programme to reduce vehicle-related greenhouse gas emissions by 2.5% a year. ‰ Installation of the fi rst noise and pollution barriers. ‰ Signature of a partnership agreement for the protection of biodiversity by Cofi route and the French federation for the protection of the habitat of wildlife.
A BUILDING THAT USES LESS ENERGY VINCI Construction Grands Projets and CFE, a subsidiary of VINCI Construction, designed and built the new headquarters building of the European Investment Bank (EIB) in Luxembourg using the Building Research Establishment’s environmental assessment method. Surrounded by a transparent cylindrical glass envelope, this nine-storey offi ce building will have three heated atriums and three naturally ventilated winter gardens in a total surface area of 74,000 square metres. The glass envelope, like the winter gardens, has been designed to reduce the building’s energy consumption and the emission of greenhouse gases into the atmosphere. Bottom. The Tour Granite is being built by VINCI Construction in La Défense, the Paris business district. It will be the fi rst high environmental quality (HQE ® ) tower block ever built. The approach aims to optimise internal air quality, humidity, energy consumption and visual comfort. 133
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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
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Airport sector VINCI Concessions is
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CONSTRUCTION CONCESSIONS CONSTRUCTI
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ENERGY 51
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A leader in energy and information
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Top. For the Munich airport, German
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Acquisitions 16 companies acquired
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Top left. Design and implementation
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VINCI Energies at the Zénith conce
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ÉDITORIAL GRANIOU SUPPORTS NORTEL
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66 LEADER IN INFRASTRUCTURE CONSTRU
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KEY FIGURES In € millions and as
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EUROVIA / BUSINESS REPORT Brisk gro
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MATERIALS: A STRATEGIC FACILITY IN
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EUROVIA / BUSINESS REPORT NOxer ®
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Top left. Roadworks in the village
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EUROVIA / BUSINESS REPORT Design &
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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 and 100: Civil engineering revenue +11.2 % S
Page 101 and 102: Top. Restructured so as to reduce t
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: Above: Since 2005, VINCI’s approv
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
Page 151 and 152: Opinion of one of the Statutory Aud
Page 153 and 154: FINANCIAL STATEMENTS FINANCIAL STAT
Page 155 and 156: 27. Market value of fi nancial inst
Page 157 and 158: 2.1 APPOINTMENTS AND FUNCTIONS OF C
Page 159 and 160: Alain Dinin Age: 55 • 1997-2008 N
Page 161 and 162: Yves-Thibault de Silguy (suite) Wil
Page 163 and 164: The other eleven Directors are prom
Page 165 and 166: - in respect of the Company’s int
Page 167 and 168: The following table shows the Direc
Page 169 and 170: When he retired, he received €1,2
Page 171 and 172: CORPORATE GOVERNANCE Options Option
Page 173 and 174: REPORT OF THE CHAIRMAN REPORT OF TH
Page 175 and 176: 3.4. INTERNAL AUDIT The internal au
Page 177 and 178: The third step, in 2003 and 2004, i
Page 179 and 180: REPORT OF THE STATUTORY AUDITORS IN
Page 181 and 182: Outside France, VINCI Energies’ r
Page 183 and 184: 1.3 NET PROFIT Net profi t attribut
Page 185 and 186: 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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