1999 Annual Report
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Key figures 1999 Contents Total business Total business by sector* by geographic area* in millions of euros in millions of euros Key figures for 1999 Organisation 5% 520 Concessions 62% 5,765 France Chairman’s statement 3 ANNUAL REPORT 17% 1,614 Germany Business lines 4 31% 2,892 Mechanical and Highlights of the year 6 electrical engineering 8% 708 UK 23% 2,132 Roadworks 8% 733 Rest Report of the Board of Directors of Europe 41% 3,784 Building and 5% 508 Rest of world Share price data and shareholding 8 civil engineering The construction market in 1999 10 9,328 Total 9,328 Total The Group in 1999 12 Human resources 16 * After inter-company transactions Research, development and innovation 18 Total business Gross operating surplus in millions of euros 9,328 in millions of euros Business in 1999 and as % of net sales 9,057 476 Concessions 20 8,342 8,262 5.3% 8,140 Mechanical and electrical engineering 28 8,012 311 Roadworks 40 268 3.9% Building and civil engineering 48 3.3% Financial report Consolidated financial statements 64 ‘97 ‘98 ‘99 ‘97 ‘98 ‘99 Summary of the individual financial statements 93 Consolidated net sales Operating income Net income Reports of the statutory auditors in millions of euros in millions of euros Annual Report 1999 Annual Report and as % of net sales 223 and as % of total business Report on the consolidated financial statements 98 2.5% Report on the financial statements 99 G 146 124 1.6% Report on regulated contracts 100 92 1.5% Supplementary report on the capital increase reserved for employees belonging to the Group Savings Scheme 101 1.1% 43 47 Supplementary report of the Board of Directors 104 0.5% 0.6% Draft resolutions VINCI ‘97 ‘98 ‘99 ‘97 ‘98 ‘99 Ordinary part 107 1999 Shareholders’ equity at 31 December Net financial surplus at 31 December Extraordinary part 109 in millions of euros in millions of euros 770 General information 685 567 General information about the Company 110 526 Board of Directors, senior management and supervisory bodies 121 447 Individuals responsible for the reference document and for auditing the financial statements 126 COB cross-referencing table 128 53 1 cours Ferdinand-de-Lesseps, 92851 Rueil-Malmaison Cedex - France ‘97 ‘98 ‘99 ‘97 ‘98 ‘99 Tel: + 33 1 47 16 35 00 - Fax: + 33 1 47 51 91 02 - Internet: www.groupe-vinci.com Contents Key figures for 1999 Organisation Chairman’s statement 3 Business lines 4 Highlights of the year 6 Report of the Board of Directors Share price data and shareholding 8 The construction market in 1999 10 The Group in 1999 12 Human resources 16 Research, development and innovation 18 Business in 1999 Concessions 20 Mechanical and electrical engineering 28 Roadworks 40 Building and civil engineering 48 Financial report Consolidated financial statements 64 Summary of the individual financial statements 93 Reports of the statutory auditors Report on the consolidated financial statements 98 Report on the financial statements 99 Report on regulated contracts 10 0 Supplementary report on the capital 101 increase reserved for employees belonging to the Group Savings Scheme Supplementary report 10 4 of the Board of Directors Draft resolutions Ordinary part 107 Extraordinary part 10 9 General information General information about the Company 110 Board of Directors, senior management 121 and supervisory bodies Individuals responsible for the reference 12 6 document and for auditing the financial statements COB cross-referencing table (see over) 12 8 Cross- referencing table To make it easier to read this document, the following table identifies the main headings required to be covered by Regulation 98-01 of the Commission des Opérations de Bourse (French stock exchange commission). (See contents over). 1.1. Name and title of the individual responsible 126 for the document 1.2. Statements of the person responsible for 126-127 the document and of the statutory auditors 1.3. Names and addresses 126-127 of the statutory auditors 3.1. General information 110-114 about the Company 3.2. General information 115-117 about the capital stock 3.3. Ownership structure and voting rights 118 3.4. Stock exchange prices 119 3.5. Dividends 9 4.1. Presentation of the parent company 4-5, 20-61, and the group 110-111 4.3. Contingencies and exceptional factors 89 4.4. Human resources 16-17, 88 4.5. Investment policy 18-19, 67, 120 5.1. Consolidated financial statements 64 5.1. Individual financial statements 93 of the parent company 6.2. Directors’ shareholdings 88, 124-125 7.1. Recent developments 6-7, 12-15 7.2. Future prospects 15 Organisation Board of Directors Executive Committee Chairman Chairman and Chief Executive Officer Antoine Zacharias Antoine Zacharias Directors General Manager Antoine Zacharias Bernard Huvelin Dominique Bazy, CEO of AGF and member of the International and Member of the Board Executive Committee of Allianz AG Bernard Huvelin Quentin Davies, Member of Parliament in the UK Alain Dinin, Chief Executive Officer of CGIS Deputy General Managers Patrick Faure, Chairman and Chief Executive Officer of Renault Véhicules Industriels and Chairman of Renault Sport Xavier Huillard, Chairman and Chief Executive Officer, Sogea Roland Génin, former Deputy Chairman of Schlumberger Roger Martin, The information contained in this document was registered Philippe Germond, Senior Executive Vice President of Vivendi Chairman and Chief Executive Officer, Eurovia Xavier Huillard Roger Martin Christian Péguet with the COB (the French stock exchange commission) as a reference document, in the form of the 1999 annual report of Bernard Huvelin, General Manager of VINCI Christian Péguet, Société Générale d’Entreprises, on 3 April 2000 under the Chairman and Chief Executive Officer, GTIE Ernst Moritz Lipp, Member of the Board of Dresdner Bank number R.00-112. and Dresdner Kleinwort Benson The Shareholders’ Meeting called to approve the 1999 financial Henri Stouff, statements also approved the change of the corporate name of Chairman and Chief Executive Officer, Jean-Marie Messier, Chairman and Chief Executive Officer of Vivendi the Société Générale d’Entreprises to VINCI. In this document, Campenon Bernard SGE all references to the name Société Générale d’Entreprises or Serge Michel, Chairman and Chief Executive Officer of Soficot SGE have been replaced by VINCI. The rest of the text is identical to that of the document registered with the COB. Henri Proglio, Senior Executive Vice President of Vivendi Managers Pierre Trotot, Executive Vice President of Cegetel Henri Stouff Jean-Pierre Pierre Linden Jean-Pierre Marchand-Arpoumé, Marchand-Arpoumé Chairman and Chief Executive Officer, Freyssinet People whose appointment as director Pierre Linden, will be voted on by the Shareholder’s Meeting: Concessions Manager Gilles d’Ambrières, Chairman and CEO of Sogeparc Frédéric Gauchet, Guy Dejouany, Honorary President of Vivendi Vice Chairman and Chief Executive Officer, Sogeparc Dominique Ferrero, Chief Executive Officer of Crédit Lyonnais Henri Saint Olive, Chairman and Chief Executive Officer of Banque Saint Olive Christian Labeyrie, Frédéric Gauchet Christian Labeyrie Chief Financial Officer Willy Stricker, Chairman and Chief Executive Officer of CDC Participations and Secretary of the Board of Directors Photo credits: C. Abron, L. Beesley, P. Guignard, C. Gruner, A. Hampartzoumian, A. Heise, S. Kalimerov, M. Labelle, P. Lane, P. Lesage, G. Maucuit Lecomte, B. Pesle, B. Riffet, P. Schwartz, B. Tréville, F. Vigouroux, and the photo libraries of Campenon Bernard SGE, GTIE, Sogea, VINCI and Vivendi. Design and production: Stratéus. / Photo-engraving: Open Graphic. / Printing: JPA. Organisation Board of Directors Executive Committee Chairman Chairman and Chief Executive Officer Antoine Zacharias Antoine Zacharias Directors General Manager Antoine Zacharias Bernard Huvelin Dominique Bazy, CEO of AGF and member of the International and Member of the Board Executive Committee of Allianz AG Bernard Huvelin Quentin Davies, Member of Parliament in the UK Alain Dinin, Chief Executive Officer of CGIS Deputy General Managers Patrick Faure, Chairman and Chief Executive Officer of Renault Véhicules Industriels and Chairman of Renault Sport Xavier Huillard, Chairman and Chief Executive Officer, Sogea Roland Génin, former Deputy Chairman of Schlumberger Roger Martin, The information contained in this document was registered Philippe Germond, Senior Executive Vice President of Vivendi Chairman and Chief Executive Officer, Eurovia Xavier Huillard Roger Martin Christian Péguet with the COB (the French stock exchange commission) as a reference document, in the form of the 1999 annual report of Bernard Huvelin, General Manager of VINCI Christian Péguet, Société Générale d’Entreprises, on 3 April 2000 under the Chairman and Chief Executive Officer, GTIE Ernst Moritz Lipp, Member of the Board of Dresdner Bank number R.00-112. and Dresdner Kleinwort Benson The Shareholders’ Meeting called to approve the 1999 financial Henri Stouff, statements also approved the change of the corporate name of Chairman and Chief Executive Officer, Jean-Marie Messier, Chairman and Chief Executive Officer of Vivendi the Société Générale d’Entreprises to VINCI. In this document, Campenon Bernard SGE all references to the name Société Générale d’Entreprises or Serge Michel, Chairman and Chief Executive Officer of Soficot SGE have been replaced by VINCI. The rest of the text is identical to that of the document registered with the COB. Henri Proglio, Senior Executive Vice President of Vivendi Managers Pierre Trotot, Executive