Logo VINCI
€71.020 -1.36 %   24/09/2020 17:18
Home > Investors > Results > History of results    >    2008 financial statements

History of results

2008 financial statements - Financial statements

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

Key figures
(in € millions)
 

2008

2007 (**)

REVENUE
33,930.330,874.3
of which:  

Revenue excluding construction by third parties
of new infrastructure under concession

33,457.830,337.9

Revenue realised by concession operators for the construction
of new infrastructure by third parties (*)

472.5536.4
Revenue outside France
12,571.910,742.6
% of revenue***
37.6%35.4%
Operating profit from ordinary activities
3,377.83,117.5
% of revenue***
10.1%10.3%
Operating profit 3,275.93,010.7
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
1,591.4 1,455.0
Earnings per share (in €)
3.393.13
Diluted earnings per share (in €)3.303.01
Dividend per share (in €)
1.621.52
Equity including minority interest
9,025.88,113.5
Net financial debt
(15,370.8) (16,303.3)
Net financial debt excluding project finance(14,410.8)(15,723.3)
CASH FLOWS (USED IN) / FROM OPERATIONS
4,871.84,513.5
Net investments in operating assets
(897.3)(683.1)
Investments in concession assets and PPP contracts
(1,217.9) (1,280.9)
Net financial investments (****)
(277.9) (1,731.2)

(*) See change of accounting policy described in Note A.1.3 "Change of accounting policy: IFRIC 12, Service Concession Arrangements".
(**) Restated in accordance with the change of accounting policy described in Note A.1.3 "Change of accounting policy: IFRIC 12, Service Concession Arrangements".
(***) % calculated using revenue excluding construction by third parties of new infrastructure under concession.
(****) Including cash of companies acquired or sold.

Top

Consolidated income statement
(in € millions)
 20082007 (**)
REVENUE33,930.3 30,874.3
of which :  

Revenue excluding construction by third parties of new infrastructure
under concession

33,457.830,337.9

Revenue realised by concession operators for the construction
of new infrastructure by third parties (*)

472.5536.4
Revenue from ancillary activities216.1238.9
Operating expenses(30,768.7)(27,995.7)
Operating profit from ordinary activities3,377.83,117.5
Share-based payment expense (IFRS 2)(103.5)(117.6)
Goodwill impairment expense(22.2)(6.0)
Profit/(loss) of associates23.816.7
OPERATING PROFIT3,275.93,010.7
Cost of gross financial debt(1,043.2)(1,006.5)
Financial income from cash management investments179.8195.5
Cost of net financial debt(863.3)(811.0)
Other financial income256.0199.5
Other financial expenses(199.0)(80.1)
Income tax expense(770.5)(741.2)
Net profit from discontinued operations
1,699.11,577.9
Net profit after tax from discontinued operations (halted or sold)  
NET PROFIT for the period1,699.1 1,577.9
Minority interest107.7122.9
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT1,591.41,455.0
 
Earnings per share from continuing operations
Earnings per share (in €)3.393.13
Diluted earnings per share (in €)3.303.01
 
Earnings per share to equity holder of the parent
Earnings per share (in €)3.393.13
Diluted earnings per share (in €)3.303.01

(*) See change of accounting policy described in Note A.1.3 "Change of accounting policy: IFRIC 12, Service Concession Arrangements".
(**) Restated in accordance with the change of accounting policy described in Note A.1.3 "Change of accounting policy: IFRIC 12, Service Concession Arrangements".

Top

Consolidated balance sheet
(in € millions)
ASSETS20082007 (*)
Non-current assets
Concession intangible assets24,059.223,868.7
Goodwill3,578.93,382.5
Other intangible assets177.3141.6
Property, plant and equipment4,582.94,189.5
Investment property42.852.6
Investments in associates165.9190.1
Other non-current financial assets622.4619.8
Deferred tax assets143.8112.3
Total non-current assets33,373.232,557.1
 
Current assets
Inventories and work in progress786.4647.5
Trade and other operating receivables11,561.511,101.3
Other current assets325.6288.4
Current tax assets91.554.8
Other current financial assets246.9233.9
Cash management financial assets338.6 665.0
Cash and cash equivalents5,068.54,223.8
Total current assets (before assets held for sale)18,419.017,214.8
 
Assets related to discontinued activities and other assets held for sale05.4
 
Total current assets18, 419.017,220.1
 
TOTAL ASSETS51,792.249,777.2
 
Equity and liabilities20082007 (*)
Equity
Share capital1,240.41,214.9
Share premium5,162.74,806.8
Treasury shares(1,247.5)(1,102.2)
Other equity instruments490.6490.6
Consolidated reserves1,436.1644.1
Currency translation reserves(113.6)(20.4)
Net profit for the period attributable to equity holders of the parent1,591.41,455.0
Net income recognised directly in equity(139.7)46.9
Equity attributable to equity holders of the parent8,420.57,535.8
Minority interest605.3577.7
Total equity9,025.8 8,113.5
 
Non-current liabilities
Non-current provisions905.3996.4
Bonds3,958.75,159.8
Other loans and borrowings13,813.613,480.7
Other non-current liabilities114.285.6
Deferred tax liabilities2,478.52,413.7
Total non-current liabilities21,270.422,136.2
 
Current liabilities
Current provisions2,672.42,429.4
Trade payables6,803.86,553.4
Other current payables8,574.07,594.9
Current tax payables123.7156.0
Current borrowings3,322.02,792.6
Total current liabilities (before liabilities held for sale) 21,495.919,526.2
 
Liabilities related to discontinued activities and other liabilities held for sale 1.3
 
Total current liabilities 21,495.919,527.6
 
TOTAL EQUITY AND LIABILITIES51,792.249,777.2

(*) Restated in accordance with the change of accounting policy described in Note A.1.3 "Change of accounting policy: IFRIC 12, Service Concession Arrangements".

Top

Consolidated cash flow statement
(in € millions)
 20082007
Net profit for the period (including minority interest)1,699.11,577.9
Depreciation and amortisation1,730.11, 590.3
Net increase/(decrease) in provisions(83.5)58.9
Share-based payments (IFRS 2) and other restatements57.015.0
Gain/(loss) on disposals(102.0)(87.8)
Change in fair value of financial instruments111.8(26.8)
Share of profit/(loss) of associates, dividends received from
unconsolidated entities and profit/(loss) of operations classified
as held for sale
(38.7)(30.6)
Capitalised borrowing costs(135.9)(135.6)
Cost of net financial debt recognised863.3811.0
Current and deferred tax expense recognised770.5741.2
Cash flows (used in)/from operations before tax and financing costs4,871.84,513.5
Changes in working capital requirement and current provisions733.0686.9
Income taxes paid(582.4)(782.6)
Net interest paid(881.4)(836.1)
NET CASH FLOWS (USED IN)/FROM OPERATING ACTIVITIES - I 4,140.93,581.7
Purchases of property, plant and equipment, and intangible assets(992.8)(815.7)
Proceeds from sales of property, plant and equipment, and intangible assets95.4132.7
Net investments in operating assets(897.3)(683.1)
Purchases of concession fixed assets (net of grants received)(1,166.6)(1,269.5)
New PPP contracts (financial receivables)(51.3)(11.5)
Investments in concession assets and PPP contracts(1,217.9)(1,280.9)
Purchases of shares in subsidiaries and associates
(consolidated and unconsolidated)
(479.8)(2,095.0)
Proceeds from sales of shares in subsidiaries and associate
(consolidated and unconsolidated)
95.571.9
Net effect of changes in consolidation scope106.4292.0
Net financial investments(277.9)(1,731.2)
Dividends received from associates and unconsolidated entities30.527.2
Other40.32.2
NET CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES - II (2,322.4)(3,665.7)
Changes in share capital381.3369.7
Changes in treasury shares(200.3)(939.5)
Minority interest in share capital increases of subsidiaries5.92.3
Dividends paid  
- to shareholders of VINCI SA(765.1)(664.5)
- to minority interests(63.6)(48.4)
Proceeds from new borrowings679.13 611.8
Repayment of borrowings and changes in other current financial debt(1,272.7)(2,366.9)
Change in cash management assets397.1(758.2)
NET CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES - III(838.2)(793.7)
CHANGE IN NET CASH - I + II + III 980.3(877.7)
Net cash and cash equivalents at beginning of period3,594.04,487.7
Other changes(60.9)(15.9)
Net cash and cash equivalents at end of period4,513.43,594.0
Increase/(decrease) of cash management financial assets(397.1)758.2
(Proceeds from)/repayment of loans593.6(1,244.9)
Other changes(183.4)(126.5)
Change in net debt932.5(1,506.8)
Net debt at beginning of period(16,303.3)(14,796.4)
Net debt at end of period(15,370.8)(16,303.3)

(*) Restated in accordance with the change of accounting policy described in Note A.1.3 "Change of accounting policy: IFRIC 12, Service Concession Arrangements".

Top

Last updated: 04/03/2009