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2018 Survey Report Table of Contents Executive Summary

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Antitrust Writing Awards 2018 ANTITRUST PROFESSIONAL PUBLICATIONS NEWSLETTERS & CLIENT ALERTS 2018201 SURVEYSURVEY REPORTREPORT POOL & METHODOLOGY The Survey was sent from November 14, 2017 to December 4, 2017 to 6,500 in-house counsels. The counsels interviewed cover more than 15 industries. Among these counsels, 25 % are General Counsels and 75% Antitrust Counsels. Individual answers are kept confidential; only aggregated data are provided herein. Survey Coverage per Geographical Area Survey Coverage per Industry 10 % 13 11 10 % 10 9 8 8 8 Europe 7 America 6 5 5 Asia 40 % 4 3 3 10 % Africa Oceania Energy Media Luxury Automobile Transports Other Industry Entertainment Other Sevices Other Industry Agricultural Products Information Technology 30 % Financial Services/Insurance Pharmaceuticals/ChemicalTelecommunications/Postal Industry Services Survey Coverage: Represented Corporations (excerpt) Aerospace/Defense Airbus, Boeing, Dassault, EADS, Safran, Snecma, Thales... Agriculture/Food Products AB-InBev, Coca-Cola, Bacardi, Kraft, Nestle, Panzani, Pepsico, Saint Louis Sucre... Automobile Ford, General Motors, Nissan, PSA, Renault, Toyota, Volkswagen, Volvo... Energy American Electric Power, BP, E-On, EDF, Exxon, Framatome, GDF Suez, IFP, Powernext, RTE, Shell, Suez Tractebel, Total... Financial Services/Insurance ABN Amro, AGF, American Express, AMF, Axa, Bank of America, Banksys, Banque postale, BNP Paribas, Calyon Bank, Cetelem, CDC, CIC, Cinven, Citigroup, Clinvest, Coface, Credit mutuel, Eurazeo, Euronext, Exane, FBF, Fortis, Groupama, ING, IXIS, JP Morgan, Lazard, Mastercard, Rothschild, Scor, Société Générale, Swift, Thomas Cook, UBS, Weinberg Capital, Wendel, Winterthur, World Bank... Entertainment 21st Century Fox, Clear Channel, Time Warner, Viacom, Walt Disney, Warner Music... Information Technology Amazon, Apple, Ericsson, Google, Hewlett-Packard, IBM, Iliad, LD Com, Microsoft, Nexans, Oracle, Qualcomm, Rim, Samsung, Sony, Spot, Sun Microsystems, Symantec... Luxury Burberry, Chanel, Coach, Hermès, Lacoste, L’Oréal, LVMH, PPR... Media AFP, Amaury Media, Aspen, Bayard, Canal +, Deezer, e-Bay, Financial Times, Grolier, Hachette, Lagardere, LCI, Lexis Nexis, Mlex, Odile Jacob, Prisma Presse, Publicis, Sacem, The Economist, Thomson Reuters, RMC, Sweet & Maxwell, Wolters Kluwer... Other Industry Alcoa, Alcan, Arcelor Mital, Areva, Air Liquide, Bic, Cargill, Colas, Cegelec, Danone, Decathlon, Eramet, General Electric, Holcim, Kodak, Lafarge, Lenovo, Lesaffre, Michelin, ONF, Plastic Omnium, Pioneer, Philips, Michelin, Panasonic, Saint Gobain, Sagem, Samsung, Schindler, Schneider Electric, Siemens, Sony Ericsson, Suez, Tetra Pack, Titan, Thomson, Valeo, Vallourec, Vicat, Vinci Construction, Zodiac... Pharmaceuticals/ Abbott, Aventis, Arkema, AstraZeneca, Bayer, BASF, Boiron, Colgate, Clarian, DuPont de Nemours, Ecolab, GlaxoSmithKline, IMS, Ipsen, Johnson Chemical Industry and Johnson, Monsanto, Novartis, Pfizer, Procter & Gamble, Rhodia, Sanofi, Servier, Solvay, Unilever... Telecommunication/ Alcatel, AT&T, Belgacom, British Telecom, Bouygues Telecom, Cegetel, Chronopost, Emettel, Geopost, La Poste, Neopost, Orange, SFR, Rom Postal Services Telecom, Sita Aero, TDF, Telecom Italia, T-Mobile, Verizon... Transports ADP, Air France, American Airline, British Airways, Chargeurs Interlining, Eurotunnel, SNCF, Thalys, Virgin, United Airlines... Other Services Altran, ASF, Auchan, Avisa, Bouygues, Brinks, Bwin, Capgemini, Carrefour, Carlson Wagonlit, Club Med, FFF, Fnac, ILEC, Iveco, JC Decaux, Manpower, Mangas Gamin, MEDEF, LPF, Partouche, Presstalis, Price Minister, PMU, Publicis, Saur, Sanef, Sodexho, Sothebys, Vediorbis, Veolia, Vivendi, SAP, Sodexho, Suez, Walmart... 2 - ANTITRUST PROFESSIONAL PUBLICATIONS - 2018 SURVEY REPORT TABLE OF CONTENTS EXECUTIVE SUMMARY WHY A SURVEY? 4 This Report summarizes the results of the Survey designed by Concurrences Review for the 2018 Antitrust Writing Awards. INTERPRETATION The Aim of the Survey is to assess in-house counsel’s readership and choices when OF RESULTS 5 it comes to antitrust client alerts released by law firms and related professional publications such as newsletters, briefs, memoranda, etc. 1. FACTS This Survey was sent from November 14, 2017 to December 4, 2017 to 6,500 general QUANTITY 5 counsels and antitrust counsels in the US, Europe, and abroad, covering more than 15 industries. FREQUENCY 5 CATEGORIES: The Survey leads to 6 key findings: GENERAL VS. SPECIALIZED 5 READING TIME 6 The shortcoming most commonly BROWSING 6 cited is the insufficiency of practical % orientation and relevance (see p. 9). USAGE: READING VS. 97 SAVING/PRINTING 6 of in-house counsels receive antitrust client alerts (see p. 5). FORWARDING 6 BENEFITS 7 71% SENDERS: TOP 30 LAW FIRMS 7 of in-house counsels find client alerts 95% relevant—to some extent—to their 2. ASSESSMENT practice (see p. 8). of in-house counsels link the quality QUALITY 8 of the client alerts to their opinion of law firms (see p. 9). RELEVANCE 8 SHORTCOMINGS 9 33% LAW FIRMS’ REPUTATION 9 of client alerts are just browsed (and not read): carefully crafting titles is key BUSINESS CONTACT/ HIRING 9 42% (see p. 6). of in-house counsels have contacted a given lawyer at least once after APPENDIX reading his/her client alerts. 45 % have 15 RECOMMENDATIONS 10 retained him/her (see p. 9). SOME TESTIMONIALS 11 An Appendix lists 15 recommendations on format and content expressed by in-house counsels (see pp. 10-11). ANTITRUST PROFESSIONAL PUBLICATIONS - 2018 SURVEY REPORT 3 WHY A SURVEY? This is the first survey and ranking of Antitrust Professional Second, this report also provides feedback for authors of Antitrust Publications of its kind, i.e., publications such as client alerts, Professional Publications (i.e., law firms) as it includes qualities, newsletters, briefs, memoranda, etc., released by law firms. shortcomings, and other comments made by in-house counsels While the number of these publications is constantly increasing, on how newsletters and alerts should be written. their quality and worth vary greatly. At the same time, clients have limited time to search, browse, and read such publications. The complete results of this Survey are summarized in the following pages. This Survey report is meant to achieve a two-pronged result. There are around 80 Antitrust Professional Publications published First, it may serve as a guide for recipients of Antitrust Professional on a weekly, monthly, or quarterly basis. The Survey limits itself Publications (i.e., in-house counsels) in order to make it easier to the most 30 important ones viewed on a global scale. for them to select and read only those publications that are more interesting and relevant to their practice. List of Law Firm Publications Reviewed Allen & Overy Gibson Dunn Proskauer Arnold & Porter Hausfeld Shearman & Sterling Ashurst Herbert Smith Freehills Sheppard Mullin Baker McKenzie Hogan Lovells Sidley Austin Cleary Gottlieb Jones Day Simmons & Simmons Clifford Chance Kirkland & Ellis Skadden Arps Covington & Burling Linklaters Slaughter and May Davis Polk Mayer Brown Weil Gotshal & Manges Dechert McDermott White & Case Freshfields Norton Rose Fulbright Winston & Strawn CONTACT If you want to learn more about this Survey Report and the Newsletters Ranking, contact [email protected] 4 - ANTITRUST PROFESSIONAL PUBLICATIONS - 2018 SURVEY REPORT INTERPRETATION OF RESULTS The Survey included 26 questions aimed at assessing the in-house counsels’ opinion of Antitrust Professional Publications in relation to their features, qualities and defects, and practical usage. The Survey is divided in 2 parts: Part 1 deals with Facts, Part 2 deals with Assessment. 1. FACTS QUANTITY The Survey first asked how many Antitrust In-house counsels are subject to intense How many different Antitrust Professional Publications are received by marketing from numerous law firms. Professional Publications each responding in-house counsel. 35.7% of respondents get between 5 and 8+ do you receive? The most striking result is that all inter- Antitrust Professional Publications. This number is lower than in 2016, when 42.5% viewed in-house counsels receive at least 3,4% 0 of the respondents received 5 or more Antitrust 5,1% 1 one Antitrust Professional Publication. Publications. Consequently, the number of 16,9% 2 people who receive between 1 and 4 antitrust alerts has increased from 57.4% to 60.9%. 16,9% 3 13,6% 4 The option of not publishing - or not sending 5 - any type of Antitrust Professional Publications 6 should be carefully assessed by law firms as 8,5% 22% their clients or prospects will be reached by 13,6% More than 8 other firms in any case. FREQUENCY The Survey then focused on how often Law firms choosing to release their alerts How often do you receive Antitrust Professional Publications are periodically need to carefully assess this Antitrust Professional against their internal resources and skills in released, sent out and thus received by Publications? in-house counsels. 20.3% Antitrust terms of consistency and regularity. Daily Professional Publications are released on 8,5% a weekly basis, 3.4% are released on a Weekly monthly basis, which differ from 2016, Monthly when 18.4% were weekly and 14.3% were 20,3% Depends on the 57,8% monthly. publication 3,4% CATEGORIES: GENERAL VS. SPECIALIZED As to the type of Antitrust Professional Most Antitrust Professional Publications Are these publications general Publications, as shown by the chart at the deal with general antitrust issues.
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  • 2019 Annual Report Annual 2019

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    a force for good. 2019 ANNUAL REPORT ANNUAL 2019 1, cours Ferdinand de Lesseps 92851 Rueil Malmaison Cedex – France Tel.: +33 1 47 16 35 00 Fax: +33 1 47 51 91 02 www.vinci.com VINCI.Group 2019 ANNUAL REPORT VINCI @VINCI CONTENTS 1 P r o l e 2 Album 10 Interview with the Chairman and CEO 12 Corporate governance 14 Direction and strategy 18 Stock market and shareholder base 22 Sustainable development 32 CONCESSIONS 34 VINCI Autoroutes 48 VINCI Airports 62 Other concessions 64 – VINCI Highways 68 – VINCI Railways 70 – VINCI Stadium 72 CONTRACTING 74 VINCI Energies 88 Eurovia 102 VINCI Construction 118 VINCI Immobilier 121 GENERAL & FINANCIAL ELEMENTS 122 Report of the Board of Directors 270 Report of the Lead Director and the Vice-Chairman of the Board of Directors 272 Consolidated nancial statements This universal registration document was filed on 2 March 2020 with the Autorité des Marchés Financiers (AMF, the French securities regulator), as competent authority 349 Parent company nancial statements under Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of the 367 Special report of the Statutory Auditors on said regulation. The universal registration document may be used for the purposes of an offer to the regulated agreements public of securities or the admission of securities to trading on a regulated market if accompanied by a prospectus or securities note as well as a summary of all 368 Persons responsible for the universal registration document amendments, if any, made to the universal registration document. The set of documents thus formed is approved by the AMF in accordance with Regulation (EU) 2017/1129.