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History of results

2006 financial statements - Financial statements

- Key figures
- Consolidated IFRS income statement
- Consolidated IFRS balance sheet
- Consolidated IFRS cash flow statement

Key figures
(in millions of euros)
 

2006

2005

2004

REVENUE
25,634.321,038.119,056.1
Of which revenue outside France
8,809.5 7,973.6 7,125.6
% of revenue
34.4%37.9%37.4%
Operating profit from ordinary activities
2,579.8 1,560.11,304.9
% of revenue
10.1%7.4%6.8%
Operating profit 2,476.0 1,476.9 1,245.8
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
1,270.4 871.2731.6
Earnings per share (in euros)
5.805.084.56
Diluted earnings per share (in euros)5.554.464.02
Dividend per share. excluding tax credit (in euros)
2.652.001.75
Equity including minority interest
9,614.9 5,318.5 3,614.6
Net financial debt
(14,796.4) (1,579.0) (2,433.1)
CASH FLOWS (USED IN) / FROM OPERATIONS
3,755.0 2,134.12,018.2
Net investments in operating assets
(572.1)(572.3)(445.5)
Investments in concession assets
(1,205.3) (811.1)(568.3)
Net financial investments
(9,242.8) (86.6)(259.9)

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Consolidated IFRS income statement
(in millions of euros)
 200620052004
REVENUE25,634.3 21,038.1 19,056.1
Other operating income218.8181.8256.9
Operating expenses(23,273.3) (19,659.8)(18,008.1)
Operating profit from ordinary activities2,579.8 1,560.11,304.9
Share-based payment expense (IFRS 2)(89.5)(70.1)(36.3)
Goodwill impairment expense(14.3)(13.2)(22.8)
OPERATING PROFIT2,476.0 1,476.9 1,245.8
Cost of gross financial debt(733.7)(273.3)(318.7)
Financial income from cash management investments152.1122.983.1
Cost of net financial debt(581.7)(150.3)(235.6)
Other financial income186.3127.8279.6
Other financial expenses(48.9)(75.0)(43.6)
Share of profit / (loss) of associates18.387.014.0
Income tax expense(667.4)(462.5)(365.9)
Net profit before profit or loss of discontinued operations (halted or sold)
1,382.7 1,003.9894.2
Net profit or loss after tax of discontinued operations (halted or sold)49.4(1.0)(55.9)
NET PROFIT1,432.1 1,002.8838.3
Minority interest161.7131.6106.7
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT1,270.4 871.2731.6
 
Earnings per share before profit or loss of discontinued operations (halted or sold)
Earnings per share (in euros)5.575.094.91
Diluted earnings per share (in euros)5.334.464.31
 
Earnings per share
Earnings per share (in euros)5.805.084.56
Diluted earnings per share (in euros)5.554.464.02

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Consolidated IFRS balance sheet
(in € millions)
ASSETS200620052004
Non-current assets
Goodwills3,681.3 813.1776.9
Intangible assets128.3103.782.0
Concession intangible fixed assets24,698.55,741.0 5,024.1
Property. plant and equipment2,322.6 2,214.8 2,006.7
Investment property47.347.241.9
Investments in associates102.81,595.5 1,558.5
Other non-current financial assets348.2440.0532.8
Deferred tax assets218.8210.5167.2
Total non-current assets31,547.8 11,165.7 10,190.0
 
Current assets
Inventories and work in progress567.1540.7542.8
Trade and other operating receivables9,503.1 8,334.3 7,279.8
Other current assets241.0218.6157.3
Current tax assets37.562.524.4
Other current financial assets158.187.8233.9
Cash management financial assets1,223.2 885.61,968.3
Cash and cash equivalents5,154.8 4,598.7 2,549.5
Total current assets16,884.8 14,728.1 12,756.1
 
TOTAL ASSETS48,432.6 25,893.9 22,946.0
 
Equity and liabilities200620052004
Equity
Share capital1,176.6 983.2838.1
Share premium4,475.5 2,247.51,231.5
Treasury shares(178.4)(335.8)(130.3)
Other equity instruments490.6  
Consolidated reserves1,601.9849.4350.1
Currency translation reserves20.531.3(5.7)
Net profit for the period attributable to equity holders of the parent1,270.3871.2731.6
Net income recognised directly in equity9.5(0.0)0.6
Equity attributable to equity holders of the parent8,866.6 4,646.8 3,015.9
Minority interest748.4671.7598.6
Total equity9,614.9 5,318.5 3,614.6
 
Non-current liabilities
Non-current provisions1,015.0 797.3843.0
Bonds3,591.3 3,588.3 4,619.9
Other loans and borrowings14,043.71,840,41,555.4
Other non-current liabilities49.132.014.4
Deferred tax liabilities2,612.7 210.6169.6
Total non-current liabilities21,311.8 6,468.7 7,202.3
 
Current liabilities
Current provisions1,655.9 1,445.4 1,382.8
Trade payables5,554.1 5,002.34,619.2
Other current payables6,428.7 5,498.64,743.6
Current tax payables138.7253.9213.6
Current borrowings3,728.6 1,906.61,170.1
Total current liabilities 17,505.9 14,106.7 12,129.2
 
TOTAL EQUITY AND LIABILITIES48,432.6 25,893.9

22,946.0

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Consolidated IFRS cash flow statement
(in € millions)
 200620052004
Net profit for the period (including minority interest)1,432.1 1,002.8 838.3
Depreciation and amortisation1,365.9 673.9617.9
Net increase / (decrease) in provisions2.223.648.2
Share-based payments (IFRS 2) and other restatements40.433.636.3
Gain or loss on disposals(166.0)(68.7)(36.2)
Change in fair value of foreign currency derivative financial instruments(0.2)10.0(10.7)
Share of profit or loss of associates, dividends received from
unconsolidated entities and profit or loss of operations classified
as held for sale
(76.2)(90.7)0.1
Capitalised borrowing costs(92.3)(63.3)(77.3)
Cost of net financial debt recognised581.7150.3235.6
Current and deferred tax expense recognised667.4462.5365.9
Cash flows (used in) / from operations before tax and financing costs3,755.0 2,134.12,018.2
Changes in working capital requirement and current provisions12.7114.1374.7
Income taxes paid(758.2)(481.0)(330.2)
Net interest paid
(518.0)(100.9)(204.7)
Net cash flows (used in) / from operating activities I2,491.6 1,666.31,857.9
Purchases of property, plant and equipment, and intangible assets(771.8)(700.2)(525.4)
Proceeds from sales of property, plant and equipment, and intangible assets199.7128.079.9
Purchases of concession fixed assets (net of grants received)(1,205.3) (811.0)(568.3)
Purchases of shares in subsidiaries and associates (consolidated and unconsolidated)(9,322.4) (191.0)(460.9)
Proceeds from sales of shares in subsidiaries and associates (consolidated and unconsolidated) 79.7104.4201.0
Net effect of changes in scope of consolidation614.26.53.0
Dividends received from associates and unconsolidated entities15.965.644.4
Others5.927.3(31.9)
Net cash flows (used in) / from investing activities II(10,384.1) (1,370.6)(1,258.0)
Increases in share capital3,391.9 270.4259.6
Purchases of treasury shares(329.8)(369.8)(492.1)
Minority interest in share capital increases of subsidiaries24.4(0.0)1.4
Sums collected during the period on exercise of share options19.439.495.2
Dividends paid   
- to shareholders of VINCI SA(472.0)(321.7)(287.2)
- to minority interests(79.6)(68.7)(55.5)
Proceeds from new long-term borrowings5,600.2 729.5633.7
Repayment of borrowings and changes in other current financial debt104.3(135.7)(441.7)
Change in cash management assets(52.2)1,347.6 (225.0)
Net cash flows (used in) / from financing activities III8,206.8 1,490.9 (511.6)
Net cash flows associated with discontinued operations
or operations classified as held for sale IV
219.410.0(4.4)
Change in net cash I+II+III +IV533.61,796.684.0
 
Net cash at beginning of period3,993.6 2,169.02,082.6
Others variations(39.6)28.12.4
Net cash at end of period4,487.7 3,993.6 2,169.0
 
Increase (decrease) of cash management financial assets52.2(1,347.6)225.0
(Proceeds from) / repayment of loans(5,704.6) (593.8)(192.0)
Conversion of OCEANE bonds 1,096.5 
Other change (8,059.0) (125.6)(60.5)
Change in net debt(13,217.4) 854.158.9
Net debt at beginning of period(1,579.0) (2,433.1)(2,492.0)
Net debt at end of period(14,796.4)(1,579.0)(2,433.1)

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Last updated: 28/02/2007