VINCI - 2005 annual report

CONSOLIDATED FINANCIAL STATEMENTS
18. OTHER NON CURRENT FINANCIAL ASSETS
(in € millions) Available-for-sale securities Loans and receivables at amortised
cost
Shares in Investments Collateralised Other loans Total
subsidiaries in unlisted loans and and receivables
and associates subsidiaries receivables
at fair value and associates
Gross
At 31/12/2004 39.5 347.8 45.5 62.9 495.8
Acquisitions as part
of business combinations 0.0 1.4 0.0 0.2 1.7
Other acquisitions in the year 0.3 23.3 0.5 17.9 42.0
Disposals and retirements during the year (7.9) (119.2) (1.9) (34.8) (163.8)
Translation differences 0.1 0.3 2.7 (1.6) 1.5
Other movements 4.7 27.7 (23.4) 53.0 61.9
At 31/12/2005 36.7 281.3 23.5 97.6 439.1
Impairment losses
At 31/12/2004 (17.9) (168.3) 0.0 (21.6) (207.7)
Provision expenses 0.0 0.0 0.0 0.0 0.0
Impairment losses 0.0 0.0 0.0 0.0 0.0
Reversals of impairment losses 0.0 0.0 0.0 0.0 0.0
Disposals and retirements during the year 0.0 0.0 0.0 0.0 0.0
Translation differences (0.0) 0.0 0.0 (0.0) (0.0)
Other movements (1.1) 11.5 0.0 (1.3) 9.1
At 31/12/2005 (19.0) (156.8) 0.0 (23.0) (198.7)
Net
At 31/12/2004 21.6 179.5 45.5 41.3 288.0
At 31/12/2005 17.7 124.5 23.5 74.7 240.4
Available-for-sale securities amounted to €142.2 million at 31 December
2005 compared with €201.1 million at 31 December 2004. These are
mainly shares in unlisted subsidiaries and associates that do not meet the
minimum financial criteria for consolidation adopted by VINCI.
Loans and receivables at amortised cost amounted to €98.2 million at
31 December 2005 against €86.9 at 31 December 2004. They comprise
principally collateralised loans and receivables for €23.5 million and other
loans and receivables (including receivables related to shareholdings and
guarantee deposits) for €74.7 million.
The collateralised loans and receivables are shown as a reduction of net
debt. They correspond to the sums frozen on accounts intended for the
repayment of the debt and mainly related to concession operating companies,
which are financed by loans without recourse against the shareholders.
Maturities of loans and receivables at amortised cost are as follows:
31/12/2005
(in € millions) between 1 and 5 years in more than 5 years
Loans and receivables at amortised cost 98.2 55.2 43.0
The part within one year of the other non-current financial assets is shown
in other current financial assets for €39.9 million.
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