VINCI - 2005 annual report

28. TRANSACTIONS WITH RELATED PARTIES
Transactions with related parties mainly relate to transactions with companies
in which VINCI exercises significant influence or joint control.
These transactions are conducted on the basis of market prices.
28.1 TRANSACTIONS BETWEEN VINCI AND PROPORTIONATELY
CONSOLIDATED COMPANIES (UNCONSOLIDATED PART):
CONSOLIDATED FINANCIAL STATEMENTS
(in € millions) 31/12/2005 31/12/2004
Revenue 2,410.1 1,781.1
Purchases (540.5) (587.1)
Subcontracting (1,502.5) (901.4)
Trade receivables 1,362.6 1,246.4
Trade payables 582.0 475.9
These mainly relate to transactions with joint venture partnerships (SEPs)
in connection with the Group’s construction activities.
28.2 CONTRIBUTION TO THE CONSOLIDATED BALANCE SHEET
OF PROPORTIONATELY CONSOLIDATED COMPANIES
(in € millions) 31/12/2005 31/12/2004
Current assets 761.5 532.3
Non-current assets 1,190.4 1,057.1
Current liabilities 767.4 461.6
Non-current liabilities 1,258.2 1,005.8
Operating income 1,760.6 1,579.2
Operating expenses (1,530.9) (1,462.7)
Cost of net financial debt (24.2) (16.4)
Other financial income and expenses (2.9) (9.2)
Income tax (17.1) (14.2)
Only joint venture partnerships created for construction projects that
manage revenue of over €45 million (on a 100% basis) are consolidated
proportionately.
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