VINCI - 2005 annual report

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EUROVIA / BUSINESS REPORT NOxer ® barrier The NOxer ® pollution-reducing noise barrier developed at Eurovia’s research centre in Bordeaux-Mérignac, helps cut peak pollution by converting nitrogen oxides (NOx) produced on major thoroughfares into stable water-soluble nitrogen compounds. In 2005, the innovative warm mix with Aspha-Min ® process was applied on a large scale on some 30 projects. 74 VINCI 2005 ANNUAL REPORT Continuing to develop high-performance environment-related products, Eurovia installed the NOxer ® barrier for the fi rst time on the Paris ring road and in western France. In 2005 the company also applied the warm mix with Aspha-Min ® barrier for the fi rst time on the Paris ring road and process on a large scale, using it on some thirty projects. Eurovia’s recycling expertise was confi rmed with the award, for the fi rst time in France, of the CE 2+ mark to aggregates made from recycled household waste bottom ash produced in three Paris-area Group subsidiaries, which simultaneously received ISO 9001 certifi cation for their 15 production sites. Western Europe IN GERMANY, where the market remained diffi cult, Eurovia GmbH recorded a slight increase in revenue and stabilised its earnings thanks to brisk business activity in the second half. The year’s major projects included construction of a 7 km section of the B96 federal highway in Mahlov (Brandenburg). Eurovia GmbH has been substantially reorganised to cope with the recession affecting the market for several years now and is back on track to take advantage of the expected resumption of investment in motorways and return to growth. These investments will more particularly involve A-Modell motorway widening projects (560 km of motorways, accounting for a total investment of €5 billion over a fi ve-year period). The fi rst bids will be placed in 2006. IN THE UNITED KINGDOM, Ringway recorded a substantial increase in revenue (+12.9% at constant scope and exchange rate) and an improvement in its earnings. 75% of its business activity is conducted under some 30 medium- and long-term (3 to 12 year) contracts, averaging revenue of €15 million per year and involving road maintenance and related services (winter maintenance, maintenance of green spaces and public lighting, etc.). Ringway’s leadership on this buoyant market was further strengthened by the award of the Worcestershire County road maintenance contract (covering a period of four and a half years and with a value of some €25 million per year) and the renewal of the Peterborough (fi ve years, €3.4 million per year) and Wiltshire (fi ve years, €30 million per year) contracts. The British subsidiary also strengthened its position on the road construction market by acquiring TE Beach, a company based in the southern city of Dartford which also does substantial business on the London market. TE Beach employs 400 people and generates annual revenue of €70 million. THE PLACE STANISLAS RETURNED TO PEDESTRIANS Renovated on the occasion of its 250th anniversary, the Place Stanislas in Nancy, a historic landmark, was surfaced with 11,000 sq. metres of natural paving slabs and cobblestones by Eurovia’s teams in Lorraine and then closed to automobile traffi c for good and handed back to pedestrians. Eurovia supported the cultural events that were held in connection with this renovation. A “Memory Book”, containing a history of the square, construction drawings and messages from local residents and restoration teams, was buried under the pavement for the benefi t of future generations. VINCI Energies illuminated this architectural jewel dating back to the Enlightenment.
Top. The low production and application temperature of warm mix with Aspha-Min ® reduces emissions of greenhouse gases. On the Champs-Elysées in Paris, the process was employed for the fi rst time during the events staged to support Paris’s bid for the 2012 Olympic Games. ÉDITORIAL 75
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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
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Complementary business lines operat
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A growth course set by the concessi
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VINCI share price up 47% in 2005 In
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THE 2006 SHAREHOLDERS’ CALENDAR 1
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2005 Highlights Bernard Val, Chairm
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20 VINCI 2005 ANNUAL REPORT
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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 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 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
Page 115 and 116: Priority areas and projects Limit t
Page 117 and 118: Commitments Guarantee the safety an
Page 119 and 120: COMBINING MOTIVATION AND SAFETY CFE
Page 121 and 122: DEVELOPING SKILLS VINCI’s trainin
Page 123 and 124: VINCI CONSTRUCTION SATISFACTION SUR
Page 125 and 126: Other social indicators A RESPONSIB
Page 127 and 128: 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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