VINCI - 2005 annual report

D. NOTES TO THE INCOME STATEMENT
5. OPERATING PROFIT
(in € millions) 2005 2004
Revenue 21,543.0 19,520.2
Revenue from ancillary activities 179.4 255.0
Purchases consumed (5,443.9) (5,065.8)
External services (2,707.3) (2,387.3)
Temporary employees (825.3) (679.0)
Subcontracting (4,916.6) (4,289.3)
Taxes and levies (391.3) (351.1)
Employment costs (5,271.8) (5,070.5)
Other income and expenses 108.1 11.8
Amortisation (688.9) (628.5)
Net provision charge (17.8) (15.4)
Operating expenses (before non-recurring items and IFRS 2) (20,154.9) (18,475.2)
Operating profit from ordinary activities 1,567.6 1,300.1
Share-based payment expense (IFRS 2) (70.1) (36.3)
Restructuring costs (10.1)
Goodwill impairment expense (*) (13.2) (45.5)
Operating expenses (20,238.1) (18,567.1)
Operating profit 1,484.3 1,208.2
(*) Including amortisation of goodwill related to assets with finite useful life.
Operating profit was €1,484.3 million in 2005 (6.9% of revenue)
against €1,208.2 million in 2004 (6.2% of revenue), a 22.9% increase
from one period to the next.
5.1 REVENUE FROM ANCILLARY ACTIVITIES
Revenue from ancillary activities amounted to €179.4 million in 2005.
It mainly consisted of sales of equipment, materials and goods (€68.6
5.2 AMORTISATION
These break down as follows:
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VINCI 2005 ANNUAL REPORT
Operating profit from ordinary activities, which measures the
Group’s subsidiaries’ operating performance before the effects of
share-based payments (IFRS 2), restructurings (closures or disposals
of activities) and goodwill impairment losses, was €1,567.6 million
in 2005 against €1,300.1 in 2004, an increase of 20.6%.
million), studies, engineering and fees invoiced in the context of construction
contracts (€68.2 million) and rental income (€41.0 million).
(in € millions) 2005 2004
Amortisation
Intangible assets (24.9) (23.4)
Concession intangible fixed assets (204.1) (182.4)
Property, plant and equipment (458.2) (421.3)
Investment properties (1.7) (1.4)
(688.9) (628.5)