VINCI - 2005 annual report

12.2 IMPAIRMENT LOSSES ON OTHER NON-FINANCIAL ASSETS
Impairment losses on other non-financial assets recorded for the year
amount to €6.8 million and relate particularly to losses recognised on
seven companies operating car park in France (€3.4 million).
CONSOLIDATED FINANCIAL STATEMENTS
13. CONCESSION INTANGIBLE FIXED ASSETS
13.1 MAIN FEATURES OF CONCESSION CONTRACTS
The characteristics of the main concessions contracts under the
operation of consolidated subsidiaries (either full or proportionate)
are presented in the chart below:
Cofiroute
Project Control and regulation
of prices by
concession grantor
Intercity toll motorway
network in France
1,091km (of which
approx. 106 km under
construction)
A86 France (2 toll
tunnels under
construction)
Arcour (A19) France
toll motorway 101km
Autopista Del Bosque
Chile toll motorway
160km
Morgan VINCI Ltd
UK motorway 10km
Gefyra
(Rion–Antirion)
Greece Toll bridge in
the Gulf of Corinth
Pricing law as defined in the
concession contract. Price increases
by rider to the concession contract
subject to grantor’s agreement.
Pricing law as defined in the
concession contract. Price increases
subject to agreement by grantor.
Pricing law as defined
in the concession contract.
Price increases subject
to agreement by grantor.
Ceiling and pricing law set in
concession contract. Additional to
increases to reflect inflation, the
operator may increase the price up
to a cumulative ceiling 25% above
price at 1/1/2003.
Payment based on availability
67% traffic 28% safety 3%
maintenance 2%
Pricing law as defined in the
concession contract. Price increases
linked to price index and subject to
formal agreement by grantor.
Responsibility
for payment
Motorways
Grant or guarantee
from concession grantor
Users Nil. Infrastructures returned to
grantor for no
consideration, unless
purchased by the grantor
(in which case at
economic value).
Users Nil. Infrastructures returned
to grantor for no
consideration, unless
purchased by the grantor
(in which case at
economic value).
Users. Investment grant Infrastructures returned
to grantor at end
of concession
for no consideration.
Users. Operating grant paid
annually by grantor.
Minimum revenue ensured
by grantor + termination
date variable depending on
cumulative revenue
Residual value Start and end date
or average duration
Infrastructure returned
to grantor
for no consideration
Grantor Nil. Infrastructure returned
to grantor
for no consideration
Bridges and tunnels
Users. Grant for construction
paid by grantor
Infrastructure returned
to grantor
for no consideration
End of contract
in 2030
End of contract:
70 years after
complete entry into
service of asset.
2005 / End 2070
Variable depending
on cumulative revenue
2002 / End 2042
1997 / End 2039
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