VINCI - 2005 annual report

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Top left. In the Paris region, VINCI Energies installed climate control, heating, ventilation, plumbing and fi re protection system equipment in the Partitio offi ce building, the headquarters of the Movement Leclerc. Top right. Under a four-year contract, VINCI Energies is in charge of maintaining the climate control and refrigeration equipment at 520 Total service stations in northern France and the Paris region. 60 VINCI 2005 ANNUAL REPORT
VINCI Energies at the Zénith concert halls Meanwhile, VINCI Energies is starting work on two Zénith concert halls being built in two different cities. In Nantes, it will be installing the low voltage equipment in the hall, which is set to open at the end of 2006; in Limoges, the project consists of equipping a ventilationsmoke extraction room with distribution ducts. Service Sector ENERGY / BUSINESS REPORT The service sector remained buoyant overall in 2005. Business activity continued to be brisk in the health care, logistics, banking and public housing sectors, while offi ce buildings stabilised at an inventory level corresponding to normal market operation. Major projects for the year included the fi tting out of the head offi ce of the Le Figaro newspaper in Paris, the CBX tower in Paris-La Défense (electrical systems, climate engineering and plumbing), the headquarters of the Mouvement Leclerc (HEQ climate engineering) in Ivry sur Seine and the Grand Horizon building in Marseilles. As projects were completed, new orders came in for major projects such as the Granite and T1 towers in Paris-La Défense, the Zénith concert halls in Nantes and Limoges, the new S3 terminal at Paris CDG Airport, the hospital in Vesoul in eastern France and the Army hospital in Toulon. These offer good ongoing prospects for 2006. On many of these projects, VINCI Energies is working for VINCI Construction companies. On a market on which the number of general contracting tenders is growing, intra-group cooperation is a major source of business activity for VINCI Energies. The trend is expected to increase as public-private partnerships pick up steam. In the service sector, business activity is concentrated in the large number of smaller contracts in new and existing buildings that form the bedrock of VINCI Energies business units. The excellent relations developed over time with customers is particularly noticeable in building maintenance business activities. Revenue of the Opteor network, which operates in this sector, continued to grow in 2005 with major multi-site maintenance contracts placed by Total (520 service stations in the greater Paris region and in northern France), the Gecina property group and the Thiriet food processing group (electrical systems maintenance at 160 stores and warehouses). A major recruitment effort was undertaken to keep pace with this growth. In fi re protection, the Protec Feu, TPI and LPI subsidiaries in France had a good year. In Germany, the integration of the recently-acquired GFA company proceeded smoothly; Calanbau, which had a diffi cult year because of very aggressive competition, faces a brighter outlook in 2006. Again in Germany, the turnaround at Nickel was confi rmed in the wake of its repositioning on the buoyant facilities management market. And fi nally, in its fi rst year within the group, the Kastt company, which operates in climate engineering on the Czech market, had a satisfactory year. INTEGRATED EXPERTISE IN THE HOSPITAL SECTOR INTEGRATED EXPERTISE IN THE HOSPITAL SECTOR VINCI Energies has complementary expertise enabling it to develop global solutions for the technical equipment of hospitals while meeting particularly stringent reliability requirements. As part of a consortium led by Sogea Construction (VINCI Construction), VINCI Energies is in charge of implementing all climate engineering and electrical system works packages at the Toulon Army hospital (under a €40 million contract). The group’s business units are also taking part in the modernisation of the Mangot-Vulcin hospital in Martinque (€17 million) and the equipment at the new Vesoul hospital (climate control, smoke venting, plumbing, medical fl uids, building automation systems). At the Rouen teaching hospital (opposite), VINCI Energies provided, among other things, the power supply and electrical equipment of the scanner and cardiac catheterisation rooms. 61
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ANNUAL REPORT 2005
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EUROVIA VINCI CONSTRUCTION KEY 2005
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VINCI, the world’s leading integr
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VINCI gains new momentum With the A
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Corporate management structures BOA
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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 40 and 41: A86 : DISCREET DOWN TO THE FINEST D
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: Top left. Design and implementation
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
Page 91 and 92: Above. The Granite tower under cons
Page 93 and 94: VINCI Construction Grands Projets
Page 95 and 96: ÉDITORIAL A BUILDING OF THE FUTURE
Page 97 and 98: The fl oating swimming pool To meet
Page 99 and 100: Civil engineering revenue +11.2 % S
Page 101 and 102: Top. Restructured so as to reduce t
Page 103 and 104: In the United Kingdom and Germany,
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Page 107 and 108: ÉDITORIAL Top. Standing alongside
Page 109 and 110: VINCI Immobilier will be developing
Page 111 and 112: A RESPONSIBLE GROUP 107
Page 113 and 114: 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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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
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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
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3.5 THE VINCI SHARE AND THE STOCK M
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3. FEES OF THE STATUTORY AUDITORS P
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9. Operating and fi nancial review
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In accordance with Article 212-13 o
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VINCI - 2005 annual report

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