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View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Diposit Digital de Documents de la UAB Annual Report To make it easier to read this document, the following table identi®es the main headings required to be covered by Regulation 98-01 of the Commission des OpÂerations de Bourse (French stock exchange commission): CROSS-REFERENCING TABLE Chapter Heading Page I Auditors and people responsible for the document and the annual ®nancial statements 1.1 Names and titles of those responsible for the document 210 1.2 Statement by those responsible 210 1.3 Names and addresses of statutory and alternate auditors 210 1.4 Information policy 12-211 ************************************************************************************************************************************************************************************************ III General information about the company and its capital stock 3.1 General information concerning the company 178-180 3.2 General information concerning the capital stock 181-201 3.3 Ownership structure and voting rights 192 3.4 Stock exchange prices 193-200 3.5 Dividends 201 ************************************************************************************************************************************************************************************************ IV Information about the company's business 4.1 Presentation of the Vivendi group 2-67 4.3 Contingencies and exceptional factors 202 4.4 Human resources 16 4.5 Investment policy (dealt with in each business sector) 25-67 ************************************************************************************************************************************************************************************************ V Assets; ®nancial situation and performance 5.1 Consolidated ®nancial statements 70-119 Individual ®nancial statements of the parent company 122-156 ************************************************************************************************************************************************************************************************ VI Administration, management and control 6.2 Director's shareholdings 209 ************************************************************************************************************************************************************************************************ VII Information about recent developments and future prospects 7.1 Recent developments 84-85 7.2 Future prospects 84-85 ************************************************************************************************************************************************************************************************ NOTICE: This document has been established using the euro as the standard currency. Tables presenting the main ®nancial indicators in French francs appear on page 71 for the consolidated ®nancial statements and page 123 for the individual ®nancial statements. Page I. INTRODUCTION TO VIVENDI ) History 2 ) Key data for the group 6 ) Key data for business outside France 10 ) Creating value 12 ) Human resources 16 ) Research and Development 19 ************************************************************************************************************************************************************************************************ II. BUSINESS SECTORS ) Companies listed by sector 22 ) Water 25 ) Energy 31 ) Waste management 36 ) Transport 39 ) FCC 42 ) Telecommunications 44 ) Publishing and multimedia, audiovisual activities, cinema 49 ) Construction 58 ) Property 63 ************************************************************************************************************************************************************************************************ III. CONSOLIDATED FINANCIAL STATEMENTS ) Five-year consolidated ®nancial summary 70 ) Management report 72 ) Financial statements 87 ) Notes to the consolidated ®nancial statements 91 ************************************************************************************************************************************************************************************************ IV. INDIVIDUAL FINANCIAL STATEMENTS OF THE PARENT COMPANY ) Presentation of the individual ®nancial statements 122 ) Individual ®nancial statements of the parent company 138 ) Notes to the balance sheet and to the income statement 142 ) Subsidiaries and af®liated companies 158 ************************************************************************************************************************************************************************************************ V. REPORTS OF THE STATUTORY AUDITORS ) Report of the Statutory Auditors on the consolidated ®nancial statements 172 ) Report of the Statutory Auditors on the ®nancial statements 173 ) Report of the Statutory Auditors on regulated contracts 174 ************************************************************************************************************************************************************************************************ VI. GENERAL INFORMATION ) General information concerning the company 178 ) General information concerning capital stock 181 ) Information about the company's business 202 ) Auditors and people responsible for the reference document 210 ************************************************************************************************************************************************************************************************ This presentation contains forward-looking statements (as de®ned in the United States Private Securities Litigation Reform Act, as amended) based upon current management expectations. Numerous risks, uncertainties and other factors (including, among others, risks relating to: governmental regulation affecting our businesses; competition; our ability to manage rapid changes in technology in the industries in which we compete; litigation risks, unanticipated costs and integration of new acquisitions and joint ventures) may cause actual results to differ materially from those anticipated, projected or implied in or by the forward-looking statements. Many of the factors that will determine our future results are beyond our ability to control or predict. These forward-looking statements are subject to risks and uncertainties and, therefore, actual results may differ materially from our forward-looking statements. You should not place undue reliance on forward-looking statements which re¯ect our views only as of the date of this document. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Introduction to Vivendi 1 Vivendi *****************************************************************************Introduction to Vivendi History On December 14, 1853 an Imperial decree authorized the 1981 creation of Compagnie GÂenÂerale des Eaux, which won its ®rst ) GÂenÂerale des Eaux becomes France's leading energy com- public service concession to supply water in Lyons. Over the pany through the acquisition of Compagnie GÂenÂerale de following years, Compagnie GÂenÂerale des Eaux won contracts Chauffe. in Nantes (1854), Montmartre and Auteuil, near Paris (1857), ) Acquisition of PSG (wastewater treatment in the USA). and Nice (1864). The company signed a public service manage- ment contract with the Paris municipal authority in 1860 and began distributing water to the Paris suburbs in 1869. The 1983 French concession model was ®rst exported to Venice in 1880, ) Joint founder of the Canal+ pay television channel. and continued its successful development in France in Rennes, Boulogne-sur-Mer, Arcachon, Arras and the Rouen suburbs (1880-83). The ®rst contract for wastewater treatment was 1984 signed between the Rheims local authority and the newly- ) Creation of Compagnie des Eaux de Paris. formed Compagnie des Eaux-Vannes in 1884. The ®rst loan stock issue of FF20m in 1899 attracted a great many subscrib- 1985 ers. Scienti®c research made it possible in 1909 to build the ) Operation of the world's largest household waste incinera- Rimiez plant, which used ozone to clean water. GÂenÂerale des tion plant in Miami (USA). Eaux went on to form Sade in 1918 and acquired Tuyaux Bonna in 1924. The company and its subsidiaries continued their expansion in Monaco (1941) and Marseilles (1943), and re- 1986 newed its contract for the Paris suburbs in 1949. ) Development of private sector water distribution business in the UK through General Utilities. 1961 ) Programme to modernize and refurbish plants in the Paris 1987 suburbs doubles water distribution capacity. ) Creation of SFR (mobile telephony), GÂenÂerale d'Images 1967 (audiovisual activities) and Compagnie GÂenÂerale de SantÂe (healthcare). ) First operating contracts for household waste incineration and composting plants (Arras, Vierzon and St Chamond). 1988 1972 ) Takeover of SGE (building and civil engineering). ) GÂenÂerale des Eaux generates 20% of its net sales outside ) Expansion of wastewater treatment activities. GÂenÂerale des France. Eaux moves into Spain. 1980 1990 ) Creation of OTV by merging subsidiaries specializing in ) GÂenÂerale des Eaux reports net sales of over 415 billion, water treatment. including 25% outside France. ) Takeover of CGEA (transport and waste management). ) Acquisition of an interest in AWT in the USA. 2 Vivendi ***************************************************************************Introduction to Vivendi History 1992 ) Creation of TÂelÂecom DÂeveloppement,
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