2010 Annual Report

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2010 Annual Report Profile Milestones 2010 Annual Report 1891 1990s VINCI is the world leader in concessions Creation of Grands Several acquisitions Travaux de Marseille gave SGE a European and construction, employing close to (GTM). dimension. 180,000 people in some 100 countries. 1899 1996 We design, build, finance and manage Creation of Girolou SGE reorganised into (power stations and four core businesses: facilities that improve everyday life: the grids, concessions). concessions, energy, roads and systems that transport us, the public and 1908 construction. private buildings in which we live and work, Creation, as part of Girolou, of Société 2000 the urban developments that create and Générale d’Entreprises Vivendi (formerly (SGE). Compagnie Générale improve our communities, and the water, des Eaux) completed 1946 its withdrawal from energy and communication networks vital SGE, heavily involved in SGE’s share capital. the electricity sector Friendly takeover bid to human existence. until it was nationalised, for GTM: merger of As a private sector company contributing moved into building SGE-GTM created and civil engineering. VINCI, the world’s to the development of society, VINCI leading group in 1966 concessions, successfully blends a business focus on Compagnie Générale construction and d’Électricité acquired related services. today’s priorities with the long-term control of SGE. sustainability of its accomplishments and 2002 1970 VINCI entered integrated concessions-construction SGE participated in the the CAC 40. creation of Cofiroute, business model. which financed, built 2006 and now operates the VINCI acquired ASF, A10 (Paris–Poitiers) the biggest French and A11 (Paris–Le motorway concession Mans) motorways. operator. 1984 2010 Compagnie de During the past Saint-Gobain became decade, VINCI SGE’s majority multiplied its revenue shareholder. by 2.4, its net profit by 5.9 and its market 1988 capitalisation by 12. Saint-Gobain sold its interest in SGE to Compagnie Générale des Eaux. 2010 Annual Report Annual 2010 Contents 02 Voices 40 Concessions 96 General 179 Consolidated financial 12 Message from the 42 Concessions worldwide & financial statements Chairman and CEO/ 271 Parent company financial Corporate governance 44 VINCI Autoroutes elements statements 54 VINCI Concessions 14 Corporate management 98 Report of the Board 290 Persons responsible for the structures of Directors registration document 16 Strategy and outlook 66 160 Report of the Chairman on 291 Registration document table 18 Sustainable development Contracting 68 Energy business line corporate governance of correspondence 20 Social responsibility and and internal control 76 Eurovia In accordance with Article 212-13 of the General Regulation of the Autorité des Marchés civic engagement procedures 84 VINCI Construction Financiers (AMF, the French securities regulator), this document comprises the registration 24 Environment 178 Report of the Vice-Chairman document filed with the AMF on 23 March 2011. It may be used in support of a financial transaction only if it is supplemented by a prospectus on the transaction officially approved VINCI 25 R&D and innovation and Senior Director by the AMF. The signatories of this document, prepared by VINCI, are responsible for the 1 cours Ferdinand de Lesseps 26 Stock market and of the Board of Directors information contained therein. This is a free translation into English of a report issued in shareholder base French and is provided solely for the convenience of English-speaking readers. This report 92851 Rueil Malmaison Cedex should be read in conjunction with, and is construed in accordance with, French law and Tel.: +33 1 47 16 35 00 28 2010 photo album professional auditing standards applicable in France. Fax: +33 1 47 51 91 02 http://www.vinci.com Profile Milestones 2010 Annual Report 1891 1990s VINCI is the world leader in concessions Creation of Grands Several acquisitions Travaux de Marseille gave SGE a European and construction, employing close to (GTM). dimension. 180,000 people in some 100 countries. 1899 1996 We design, build, finance and manage Creation of Girolou SGE reorganised into (power stations and four core businesses: facilities that improve everyday life: the grids, concessions). concessions, energy, roads and systems that transport us, the public and 1908 construction. private buildings in which we live and work, Creation, as part of Girolou, of Société 2000 the urban developments that create and Générale d’Entreprises Vivendi (formerly (SGE). Compagnie Générale improve our communities, and the water, des Eaux) completed 1946 its withdrawal from energy and communication networks vital SGE, heavily involved in SGE’s share capital. the electricity sector Friendly takeover bid to human existence. until it was nationalised, for GTM: merger of As a private sector company contributing moved into building SGE-GTM created and civil engineering. VINCI, the world’s to the development of society, VINCI leading group in 1966 concessions, successfully blends a business focus on Compagnie Générale construction and d’Électricité acquired related services. today’s priorities with the long-term control of SGE. sustainability of its accomplishments and 2002 1970 VINCI entered integrated concessions-construction SGE participated in the the CAC 40. creation of Cofiroute, business model. which financed, built 2006 and now operates the VINCI acquired ASF, A10 (Paris–Poitiers) the biggest French and A11 (Paris–Le motorway concession Mans) motorways. operator. 1984 2010 Compagnie de During the past Saint-Gobain became decade, VINCI SGE’s majority multiplied its revenue shareholder. by 2.4, its net profit by 5.9 and its market 1988 capitalisation by 12. Saint-Gobain sold its interest in SGE to Compagnie Générale des Eaux. 2010 Annual Report Annual 2010 Contents 02 Voices 40 Concessions 96 General 179 Consolidated financial 12 Message from the 42 Concessions worldwide & financial statements Chairman and CEO/ 271 Parent company financial Corporate governance 44 VINCI Autoroutes elements statements 54 VINCI Concessions 14 Corporate management 98 Report of the Board 290 Persons responsible for the structures of Directors registration document 16 Strategy and outlook 66 160 Report of the Chairman on 291 Registration document table 18 Sustainable development Contracting 68 Energy business line corporate governance of correspondence 20 Social responsibility and and internal control 76 Eurovia In accordance with Article 212-13 of the General Regulation of the Autorité des Marchés civic engagement procedures 84 VINCI Construction Financiers (AMF, the French securities regulator), this document comprises the registration 24 Environment 178 Report of the Vice-Chairman document filed with the AMF on 23 March 2011. It may be used in support of a financial transaction only if it is supplemented by a prospectus on the transaction officially approved VINCI 25 R&D and innovation and Senior Director by the AMF. The signatories of this document, prepared by VINCI, are responsible for the 1 cours Ferdinand de Lesseps 26 Stock market and of the Board of Directors information contained therein. This is a free translation into English of a report issued in shareholder base French and is provided solely for the convenience of English-speaking readers. This report 92851 Rueil Malmaison Cedex should be read in conjunction with, and is construed in accordance with, French law and Tel.: +33 1 47 16 35 00 28 2010 photo album professional auditing standards applicable in France. Fax: +33 1 47 51 91 02 http://www.vinci.com Key figures €33.4 billion €22.5 billion €1,776 million 262,000 179,527 Revenue(1) Market capitalisation Net profit attributable projects(2) employees worldwide at 31 December 2010 to owners of the parent Revenue Operating profit Net profit attributable Cash flow from operations (3) Net financial debt at 31 December (in € millions) from ordinary activities to owners of the parent (in €m and as a percentage of revenue(1)) (in € millions) (in €m and as a percentage of revenue(1)) (in €m and as a percentage of revenue(1)) 31,928(1) 30,741(1) 33,376(1) 3,192 3,100 3,434 1,596 1,596 1,776 4,964 4,771 5,052 13,684 13,130 13,060 627 532 437 12,306 11,127 12,454 19,621 19,614 20,922 10.0% 10.1% 10.3% 5.0% 5.2% 5.3% 15.5% 15.5% 15.1% 2009 2009 2010 2009 2009 2010 2009 2009 2010 2009 2009 2010 2009 2009 2010 published restated published restated published restated published restated published restated n n France n n International n Concession subsidiaries’ revenue derived from works carried out by third parties Revenue by geographical area(1) Revenue by business (1) Operating profit (in € millions and as a percentage) (in € millions and as a percentage) from ordinary activities by business (in € millions and as a percentage) France 20,922 62.7% Concessions 5,097 15% Concessions 2,094 61% Central and 2,283 6.8% Eastern Europe United Kingdom 1,864 5.6% Germany 1,844 5.5% Contracting 28,150 85% Contracting 1,257 Benelux 1,470 4.4% 37% Rest of Europe 1,087 3.3% Americas 1,297 3.9% Africa 1,698 5.1% Holding 129 Holding 83 2% Asia, Middle East and 911 2.7% companies companies rest of the world and misc. and misc. Workforce at 31 December Net profit attributable to owners Cash flow from operations by business(3) of the parent by business (in € millions and as a percentage) (in € millions and as a percentage) Contracting 162,870 90.7% Concessions 875 49% Concessions 3,197 63% Patrick André/an Auvergne Regional Council project for the Vulcania educational theme
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