2010 1st quarter information restated

19 April 2011 - Finances

VINCI decided to account for jointly controlled companies using the equity method as from financial year 2010 in accordance with IAS 31 “Interests in Joint Ventures”. This equity accounting method, already used by other European groups operating in the construction and concessions sector, is a better reflection of VINCI’s business model in the field of public-private partnerships carried out through jointly owned project companies mainly using non-recourse financing. In addition, this option is consistent with the IASB’s recent decision to eliminate the proportionate consolidation method for jointly controlled entities.

To enable comparisons to be made from one year to the next, 1st quarter 2010 information has been restated to take account of this change of method, as well as the new organisational structure put in place after VINCI decided to group together most of its facilities management activities in a new division, VINCI Facilities, reporting within Energy business line. These activities were previously part of VINCI Construction and VINCI Energies.

Consolidated revenue at 31 March 2010
(in € million)

 

Revenue by geographical area
(in € million)

* Published = including the impact of the creation of VINCI Facilities

 

Contracting order book
(in € billion)

* Published = including the impact of the creation of VINCI Facilities

 

Net financial debt amounted to €13.4 billion, compared to €14.1 billion before the change of method.

 

About VINCI
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.