VINCI - 2005 annual report

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A RESPONSIBLE GROUP / R&D AND INNOVATION 146 RESEARCH AND DEVELOPMENT POLICY The research, development and innovation committee, comprising representatives from various VINCI entities, meets every two months. Its task is to facilitate the sharing of ongoing research within VINCI or within the framework of European projects, such as ECTP (European Construction Technology Platform) and ENCORD (European Network of Construction Companies for Research and Development). The committee is also responsible for promoting prize-winning projects from the different VINCI Innovation Awards competitions by identifying innovations that lend themselves to wider application across the Group. Research programmes in 2005 and the companies involved Energy saving Pollution control Road safety, transport Prevention of natural risks VINCI 2005 ANNUAL REPORT Each business line manages its own budget and R&D projects based on the specifi c challenges of its activity. Eurovia invests 6% of its revenue in R&D, focusing primarily on sustainable development, road safety and the management of its road assets. The Group encourages exchanges between national and international laboratories with the aim of facilitating inter-company technology transfers. VINCI, which is a member of France’s technological research association (ANRT), has also strengthened its relations with the academic world, recruiting young PhD students under industrial training and research contracts (CIFRE) and participates in CIFRE forums. ‰ “Home vert” site hut (GTM Construction). ‰ Cold recycling of asphalt mix (SCORE programme, Eurovia). ‰ Recycling in Europe (part of SAMARIS programme, Eurovia). ‰ Environmentally friendly construction (E_co-housing, GTM Construction). ‰ Automated compaction (CIRCOM programme, Eurovia). ‰ Lower temperature road surfacings (coatings, asphalt mixes, Eurovia). ‰ Urban lighting (Citéos CENTER programme, Générale d’Infographie and Citéos/VINCI Energies). ‰ Pollution removal from facades (PICADA programme, GTM Construction). ‰ NOx absorbent noise barriers (Eurovia). ‰ Micro-emulsions (Eurovia). ‰ Cold plasma treatment of binder plant fl ue gases (Eurovia). ‰ Biodegradable emulsifi ers (Eurovia). ‰ Vegetable-oil based fl uxing agents (Eurovia). ‰ Remote measuring of atmospheric pollution (Degréane/VINCI Energies). ‰ Meteorological observation and environmental monitoring (programmes run by VINCI Energies and ADEME, Météo France, Centre de Recherche Atmosphérique, Laboratoire des Sciences et de l’Environnement Electromagnétique Terrestre). ‰ New concepts in road construction (European NRCC programme, Eurovia). ‰ Heat-sensitive marking (Eurovia). ‰ Design and deployment of intelligent transport systems on the trans-European road network (European ARTS programme, Cofi route). ‰ Technical interoperability between electronic toll collection systems in Europe, notably between the French Liber-t and German Toll Collect systems (European RCI project, Cofi route). ‰ Vehicle-to-vehicle and vehicle-to-infrastructure information systems to avoid pile-ups and improve road safety (European SafeSpot programme, Cofi route). ‰ Earthquakes and landslides (European Lessloss programme, VINCI Construction Grands Projets) ‰ Folding fusegates for dams (Hydroplus/VINCI Construction).
Opinion of one of the Statutory Auditors on the implementation of environmental reporting and on the application of procedures for the collection of information contained in the Social Responsibility section of the 2005 annual report As requested, and as Statutory Auditors of VINCI, we have performed the procedures described below relating to verifi cation of: – the implementation of procedures related to environmental reporting; and – the application of procedures for the collection of information contained in the Social Responsibility section of the 2005 annual report. This implementation and these procedures have been established under the responsibility of the Executive Committee of VINCI. We are required to form an opinion on them on the basis of our work, which constituted neither an audit nor a limited review of information as understood in the international auditing standards. NATURE AND EXTENT OF OUR WORK Our work comprised the following: • With respect to the approach to implementation of environmental reporting – a review of the system implemented to collect environmental data in four sub-groups (1) , notably as concerns criteria of relevance, completeness, reliability, objectivity and understandability; – discussions with the managers responsible for environmental reporting in each sub-group. • With respect to the application of procedures for the collection of social performance information – an analysis of the procedures for the collection, validation and consolidation of social performance indicators included in the Social Responsibility section of the annual report and notably in respect of the criteria indicated above; – discussions at head offi ce and in four sub-groups (2) with the main persons responsible for the implementation and verifi cation of the application of the social performance information collection procedures. Paris, 1 March 2006 Salustro Reydel Member of KPMG International COMMENTS On the basis of the work performed, we have the following comments to make: • With respect to the approach to implementation of environmental reporting – the four sub-groups reviewed have implemented an internal system allowing collection of environmental data; procedures were formalised during the year; – this collection does not concern the whole Group; in particular, certain sub-groups take into account only information relating to operations carried out in France. • With respect to the application of procedures for the collection of social performance information – for future years, the means of verifi cation to be implemented by the Group’s business lines should be strengthened; – the role of each person involved in the analytical verifi cation of data should be more clearly defi ned; – systematic use of the Group reporting system is desirable wherever it is available. CONCLUSION Taking account of the work done and the comments made above: • the approach adopted for the implementation of environmental reporting is being deployed and must, in particular, be extended across the whole Group; • we have not observed any material irregularity in the application of the procedures implemented for the collection of the information given in the Social Responsibility section of the 2005 annual report. 1.– Cofi route, Eurovia, GTM Construction Grands Projets. 2.– Eurovia, Sogea, VINCI Energies, VINCI Park. Philippe Arnaud Benoît Lebrun Bernard Cattenoz Partner in charge of the Partner Partner environment and sustainable development department Free translation of the original French text. For information purposes only. 147
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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
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CONSTRUCTION 83
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French market leader and a world ma
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Above. The Granite tower under cons
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VINCI Construction Grands Projets
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ÉDITORIAL A BUILDING OF THE FUTURE
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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 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: UN GROUPE RESPONSABLE / RESPONSABIL
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
Page 187 and 188: 1.3 CONCESSIONS The main risks in c
Page 189 and 190: C. INSURANCE 1. GENERAL POLICY Give
Page 191 and 192: D. OTHER INFORMATION 1. INVESTMENT
Page 193 and 194: CONSOLIDATED FINANCIAL STATEMENTS C
Page 195 and 196: CONSOLIDATED FINANCIAL STATEMENTS E
Page 197 and 198: STATEMENT OF CHANGES IN CONSOLIDATE
Page 199 and 200: 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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