VINCI - 2005 annual report

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CONSOLIDATED IFRS BALANCE SHEET Assets (in € millions) Notes 2005 2004 Non-current assets Intangible assets 2-3-10 103.7 82.0 Goodwill 2-3-11-12 813.1 776.9 Concession intangible fixed assets 2-3-4-13 5,741.0 5,024.1 Property, plant and equipment 2-3-4-14 2,214.8 2,006.7 Investment property 16 47.2 41.9 Investments in associates 2-3-17 1,595.5 1,558.5 Other non-current financial assets 18 240.4 288.0 Fair value of derivative financial instruments (non-current assets) 25 199.6 244.7 Deferred tax assets 8 210.5 167.2 Total non-current assets 11,165.7 10,190.0 Current assets Inventories and work in progress 19 540.7 542.8 Trade and other operating receivables 19 8,334.3 7,279.8 Other current assets 19 218.6 157.3 Current tax assets 8 62.5 24.4 Other current financial assets 18 39.9 129.6 Fair value of derivative financial instruments (current assets) 25 47.9 104.4 Cash management financial assets 21-25 4,340.4 3,687.4 Cash 21-25 1,144.0 830.4 Total current assets 14,728.1 12,756.1 Total assets 25,893.9 22,946.0 190 VINCI 2005 ANNUAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS Equity and liabilities (in € millions) Notes 2005 2004 Equity Share capital 983.2 838.1 Share premium 2,247.5 1,231.5 Treasury shares (335.8) (130.3) Consolidated reserves 849.4 350.1 Currency translation reserves 31.3 (5.7) Net profit for the period attributable to equity holders of the parent 871.2 731.6 Net income recognised directly in equity (0.0) 0.6 Equity attributable to equity holders of the parent 4,646.8 3,015.9 Minority interest 671.7 598.6 Total equity 22 5,318.5 3,614.6 Non-current liabilities Provisions for retirement benefit obligations and other employee benefits 23 654.0 677.6 Non-current provisions 24 143.3 165.4 Bonds 25 3,588.3 4,619.9 Other loans and borrowings 25 1,831.8 1,520.8 Fair value of derivative financial instruments (non-current liabilities) 25 8.6 34.6 Other non-current liabilities 32.0 14.4 Deferred tax liabilities 8 210.6 169.6 Total non-current liabilities 6,468.7 7,202.3 Current liabilities Current provisions 2-3-24 1,445.4 1,382.8 Trade payables 19 5,002.3 4,619.2 Fair value of derivative financial instruments (current liabilities) 25 3.5 45.5 Other current payables 19 5,498.6 4,743.6 Current tax payables 8 253.9 213.6 Current borrowings 25 1,903.1 1,124.6 Total current liabilities 14,106.7 12,129.2 Total equity and liabilities 25,893.9 22,946.0 191
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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
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Civil engineering revenue +11.2 % S
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Top. Restructured so as to reduce t
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In the United Kingdom and Germany,
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101
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ÉDITORIAL Top. Standing alongside
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VINCI Immobilier will be developing
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A RESPONSIBLE GROUP 107
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Implementation of the Global Compac
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Priority areas and projects Limit t
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Commitments Guarantee the safety an
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COMBINING MOTIVATION AND SAFETY CFE
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DEVELOPING SKILLS VINCI’s trainin
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VINCI CONSTRUCTION SATISFACTION SUR
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Other social indicators A RESPONSIB
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REMUNERATION Remuneration and socia
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LEARNING TO LEARN The VINCI Foundat
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EMERGENCY AID ACTIVITIES The VINCI
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FICHE VINCI PREQUALIFICATION AND IM
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Above: Since 2005, VINCI’s approv
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A BUILDING THAT USES LESS ENERGY VI
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ISO 14001 CERTIFICATION GROWTH 2004
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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
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: CONSOLIDATED FINANCIAL STATEMENTS C
Page 197 and 198: STATEMENT OF CHANGES IN CONSOLIDATE
Page 199 and 200: 2.2 EARLY REDEMPTION OF THE 2002-20
Page 201 and 202: 1.1 FIRST-TIME ADOPTION OF IFRS - M
Page 203 and 204: Joint venture partnerships created
Page 205 and 206: - when borrowing is not intended to
Page 207 and 208: Cash management financial assets Ca
Page 209 and 210: - Hedge of a net investment in a fo
Page 211 and 212: 1.2.2 Breakdown of revenue by locat
Page 213 and 214: FY 2004 CONSOLIDATED FINANCIAL STAT
Page 215 and 216: FY 2004 CONSOLIDATED FINANCIAL STAT
Page 217 and 218: 4. SEGMENT INFORMATION BY GEOGRAPHI
Page 219 and 220: 5.3 SHARE-BASED PAYMENTS The expens
Page 221 and 222: The income arising in the period fr
Page 223 and 224: E. NOTES TO THE BALANCE SHEET 10. I
Page 225 and 226: 12.2 IMPAIRMENT LOSSES ON OTHER NON
Page 227 and 228: CONSOLIDATED FINANCIAL STATEMENTS 1
Page 229 and 230: 15. LEASED ASSETS Property, plant a
Page 233 and 234: 20. CONSTRUCTION CONTRACTS 20.1 FIN
Page 235 and 236: The changes in capital in 2005 brea
Page 237 and 238: CONSOLIDATED FINANCIAL STATEMENTS I
Page 241 and 242: Changes in the period CONSOLIDATED
Page 243 and 244: 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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CONSOLIDATED FINANCIAL STATEMENTS 4
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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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