VINCI - 2005 annual report

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A86 : DISCREET DOWN TO THE FINEST DETAIL The fi nal link in the super ring road around Paris, the A86 Ouest is a 10 km tunnel that preserves the outstanding natural environment of the western Paris suburbs. In collaboration with one of France’s most prestigious architects, Michel Regembal, the architectural line has been designed to blend into the surrounding countryside. The few external features, such as emergency access shafts and ventilation units, will be so discreet as to be virtually invisible. Bottom. On the A85 between Vierzon and Tours, earthworks and construction work on the three viaducts over the River Cher continued on the 44 km Saint Romain-Esvres section, which will be opened to traffi c in January 2008. Pictured here, the Ingrandes de Touraine viaduct. 36 VINCI 2005 ANNUAL REPORT
Liber-t electronic toll system 35,000 new subscribers in 2005 On the A86 Ouest, a fi rst 4.5 km section between Rueil Malmaison and the A13 motorway will be opened to traffi c in 2007. CONCESSIONS / BUSINESS REPORT On the A11, the northern Angers bypass went into full production. The 14.3 km suburban section, which includes a 1.7 km cut and cover tunnel and a 529 metre viaduct over the River Maine, will be opened to traffi c in 2008. The information centre created on the site received over 12,000 visitors during the year. On the A85, the earthworks and construction of three viaducts over the River Cher continued on the Saint Romain-Esvres section (44 km), which will be opened in January 2008. Earthworks on the Esvres-Druye section (19 km) were started after completion of the archaeological surveys. Virtually all the earthworks were completed on the northern Langeais bypass (25 km), as was the deck of the Roumer viaduct. As part of its ongoing network improvement effort, Cofi route completed the A10 widening programme with the opening of a third lane over a distance of 28 km north of Tours. The entire A10 between that city and the Saint Arnoult en Yvelines toll plaza is now dual three-lane motorway. In addition, in line with the terms of its master plan, Cofi route installed a fi rst series of 240 refuge areas giving mobility reduced motorists easier access to emergency telephones on the network. During 2005, Cofi route introduced new signage to build brand awareness and support its service policy. The company installed some 1,000 new signs, of which about 50 with variable messaging, at network entrance and exit points, rest areas and service stations. It also carried out a major campaign promoting Liber-t, the electronic toll system, during the summer. Alongside the campaign, the company introduced new facilities for accessing the system, including remote subscription within 48 hours and the cancellation of administration charges for customers managing their account via the Internet. As a result of these two measures, Cofi route recorded strong growth in the number of subscribers: 35,000 new subscribers in 2005, representing a 51% increase over one year. The company also began development work for the deployment of an electronic toll system for heavy goods vehicles (HGVs), which is scheduled to go into service during 2006. Lastly, Cofi route launched a new safety and quality charter, displaying it at all contact points along the network and distributing it on postcards inviting customers to send in their comments and suggestions. The charter formalises the company’s commitments in terms of information accuracy, customer care quality and journey time optimisation. A86 OUEST. Work on the A86 Ouest concession continued apace in 2005. On the 4.5 km section between Rueil Malmaison and the A13 motorway that will be opened in 2007, the civil engineering site took on a new dimension with the installation of the slabs inside the tunnel. In parallel, work continued on the Rueil Malmaison and Vaucresson-Le Chesnay interchanges. The fi nal stage of the temporary deviation on the A13 at the Vaucresson-Le Chesnay interchange was completed one month ahead of schedule and infrastructure work will start in 2006. The tunnel boring machine (200 metres long) used to dig the fi rst section of the tunnel was dismantled and transported to Versailles. After reassembly, it started digging the second tunnel between Versailles and the A13 in July 2005. By the end of the year, it had bored almost 900 metres of the total 5,500 metres 37
Page 1 and 2: ANNUAL REPORT 2005
Page 3 and 4: EUROVIA VINCI CONSTRUCTION KEY 2005
Page 5 and 6: VINCI, the world’s leading integr
Page 7: VINCI gains new momentum With the A
Page 10 and 11: Corporate management structures BOA
Page 12 and 13: All business lines contributed to t
Page 14 and 15: Complementary business lines operat
Page 16 and 17: A growth course set by the concessi
Page 18 and 19: VINCI share price up 47% in 2005 In
Page 20 and 21: THE 2006 SHAREHOLDERS’ CALENDAR 1
Page 22 and 23: 2005 Highlights Bernard Val, Chairm
Page 24 and 25: 20 VINCI 2005 ANNUAL REPORT
Page 26 and 27: 22 BUILDING AND MAKING A LONG-TERM
Page 28 and 29: KEY FIGURES In € millions and as
Page 30 and 31: VINCI CONCESSIONS WORLDWIDE EUROPE
Page 32 and 33: Top. ASF and Escota operate a netwo
Page 34 and 35: CONCESSIONS / ACTIVITÉ ASF recentl
Page 36 and 37: CONCESSIONS / BUSINESS REPORT 32 VI
Page 38 and 39: CONCESSIONS / BUSINESS REPORT Betwe
Page 42 and 43: The toll system of the future In Ma
Page 44 and 45: Top. Some 41,000 vehicles a day tra
Page 46 and 47: VINCI Park VINCI Park is present in
Page 48 and 49: 44 VINCI 2005 ANNUAL REPORT and the
Page 50 and 51: Airport sector VINCI Concessions is
Page 52: CONSTRUCTION CONCESSIONS CONSTRUCTI
Page 55 and 56: ENERGY 51
Page 57 and 58: A leader in energy and information
Page 59 and 60: Top. For the Munich airport, German
Page 61 and 62: Acquisitions 16 companies acquired
Page 63 and 64: Top left. Design and implementation
Page 65 and 66: VINCI Energies at the Zénith conce
Page 67 and 68: ÉDITORIAL GRANIOU SUPPORTS NORTEL
Page 70 and 71: 66 LEADER IN INFRASTRUCTURE CONSTRU
Page 72 and 73: KEY FIGURES In € millions and as
Page 74 and 75: EUROVIA / BUSINESS REPORT Brisk gro
Page 76 and 77: MATERIALS: A STRATEGIC FACILITY IN
Page 78 and 79: EUROVIA / BUSINESS REPORT NOxer ®
Page 80 and 81: Top left. Roadworks in the village
Page 82 and 83: EUROVIA / BUSINESS REPORT Design &
Page 84: CONSTRUCTION EUROVIA CONSTRUCTION E
Page 87 and 88: CONSTRUCTION 83
Page 89 and 90: 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
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Optimising waste management VINCI c
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Above: After rehabilitation, Eurovi
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B/ NOISE POLLUTION Eurovia 2005 200
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UN GROUPE RESPONSABLE / RESPONSABIL
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Opinion of one of the Statutory Aud
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FINANCIAL STATEMENTS FINANCIAL STAT
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27. Market value of fi nancial inst
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2.1 APPOINTMENTS AND FUNCTIONS OF C
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Alain Dinin Age: 55 • 1997-2008 N
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Yves-Thibault de Silguy (suite) Wil
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The other eleven Directors are prom
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- in respect of the Company’s int
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The following table shows the Direc
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When he retired, he received €1,2
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CORPORATE GOVERNANCE Options Option
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REPORT OF THE CHAIRMAN REPORT OF TH
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3.4. INTERNAL AUDIT The internal au
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The third step, in 2003 and 2004, i
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REPORT OF THE STATUTORY AUDITORS IN
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Outside France, VINCI Energies’ r
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1.3 NET PROFIT Net profi t attribut
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The Group’s fi nancial structure
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1.3 CONCESSIONS The main risks in c
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C. INSURANCE 1. GENERAL POLICY Give
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D. OTHER INFORMATION 1. INVESTMENT
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CONSOLIDATED FINANCIAL STATEMENTS C
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CONSOLIDATED FINANCIAL STATEMENTS E
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STATEMENT OF CHANGES IN CONSOLIDATE
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2.2 EARLY REDEMPTION OF THE 2002-20
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1.1 FIRST-TIME ADOPTION OF IFRS - M
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Joint venture partnerships created
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- when borrowing is not intended to
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Cash management financial assets Ca
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- Hedge of a net investment in a fo
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1.2.2 Breakdown of revenue by locat
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FY 2004 CONSOLIDATED FINANCIAL STAT
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FY 2004 CONSOLIDATED FINANCIAL STAT
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4. SEGMENT INFORMATION BY GEOGRAPHI
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5.3 SHARE-BASED PAYMENTS The expens
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The income arising in the period fr
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E. NOTES TO THE BALANCE SHEET 10. I
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12.2 IMPAIRMENT LOSSES ON OTHER NON
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CONSOLIDATED FINANCIAL STATEMENTS 1
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15. LEASED ASSETS Property, plant a
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20. CONSTRUCTION CONTRACTS 20.1 FIN
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The changes in capital in 2005 brea
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CONSOLIDATED FINANCIAL STATEMENTS I
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Changes in the period CONSOLIDATED
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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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Page 283 and 284:
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
Page 291 and 292:
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
Page 307 and 308:
3.5 THE VINCI SHARE AND THE STOCK M
Page 309 and 310:
3. FEES OF THE STATUTORY AUDITORS P
Page 311 and 312:
9. Operating and fi nancial review
Page 313 and 314:
In accordance with Article 212-13 o
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