GTIE - 1999 annual report - VINCI · 2010-01-20 · message from theChairman In 1999, our...
Transcript of GTIE - 1999 annual report - VINCI · 2010-01-20 · message from theChairman In 1999, our...
annua l r e p o r t 1999
t h e g r e a t n e t w o r k s o f l i f e
GTIE Couv. RA 99/Ang 29/06/00 10:50 Page 2
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Developing in Europe
Executive Committee
Consolidated key figures for 1999
A year in Europe
GTIE,the leader in France, accelerates growth in Europe
Engineering in information technology and energies:the great networks of life
Solutions for improved production
Solutions for improved communication
Solutions for an improved life
It’s our people that make the difference
Financial report
boardo f d i r e c t o r s
Guy RichardHonorary Chairman and Director
Christian PéguetChairman
d i r e c t o r s
Michel DaveluyHenri DelhayeBernard HuvelinPhilippe LemaistreRoger MartinGérard MohrSociété Générale d’Entreprises (SGE),represented by Antoine Zacharias
auditors
s t a t u t o r y a u d i t o r s
Deloitte Touche Tohmatsu-AuditRSM Salustro Reydel
a l t e r n a t e s
Michel BousquetFrançois Pavard
GTIE RA 99-Exé/Ang 29/06/00 11:30 Page a
message from the Chairman
In 1999, our consolidated sales were up by 7%, at close to 1.9 billion euros and our operating
income reached a record high: 77 million euros, which is over 4% of our turnover.
These results are a reflection of very buoyant markets but also the excellent performance by our
people.They make us confident in GTIE’s ability to rise to the challenges that it will have to face.
Our power supply-related markets continue to deliver strong demand, as the use of electrical
power continues to grow.With the introduction of competition on the European power supply
market there will be new opportunities for our group. As for information and communication
technologies, they are experiencing explosive growth and will open up vast areas for us to explore
and to succeed within. From being a marginal activity only a few years ago, in the near future this
sector should account for more than half of the GTIE sales.
Growing in Europe is our prime development target. It is what our clients expect, what our staff
aspire to and is an integral part of our shareholder SGE’s strategy.
As we go to press,SGE has decided that its Thermal and Mechanical activities are to be part of GTIE.
The consequence of this is that our group is changing in scale and dimension as we look forward
to sales forecast of around 3 billion euros in the year 2000, a staff of close to 30,000 and 40% of all
business generated outside France.
The creation of GTIE International in 1999 was a further boost to the resources dedicated to our
ambitions in Europe.The success, at the start of 2000,of the friendly take-over bid of Emil Lundgren
has given GTIE a foothold in Scandinavia, in addition to speeding up our development in Europe.
Christian Péguet
Chairman and Chief Executive Officer
developingi n E u r o p e
executivec o m m i t t e e
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(from left to right)
Patrick LebrunDeputy Managing Director of GTIE
Jean-Marie DayreManaging Director of GTIE International
Philippe LemaistreManaging Director of GTIE
François-Xavier HanicotteCEO of Fournié Grospaud
Christian PéguetCEO of GTIE
Jean-Yves Le BrousterDeputy Managing Director of GTIE
François Le MoullecManaging Director of Garczynski Traploir
Philippe TouyarotManaging Director of SDEL
Michel DaveluyFinancial and Administrative Director of GTIE
GTIE RA 99-Exé/Ang 29/06/00 11:30 Page 2
1999consolidated
k e y f i g u r e s
t u r n o v e r
1999
1998
o p e r a t i n g i n c o m e
M€
turnover 1,855
operating income 77
operating profit after interest 85
net income 34
cash flow 98
investments 66
return on shareholders’ equity 18.37%
1,855 M€
1,735 M€
+7%
1999
1998
77 M€
72 M€
1999
40%
60%
informationand communicationtechnology
power supply
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+7%∑
January
■ Passenger movementsRoiret ST takes an order forthe video-surveillance, firedetection and telephone systems in 3 stations of theLyons metro.
■ EnvironmentSDEL A2I installs the auto-matic systems in the sewageplant treating industrialwaste water at the RATPworkshop at Saint-Ouen, aproject that SGE companiesSOGEA and SOBEA Massywere also involved in.
■ Shop installationsSanterne Aube supplies thepower and communicationsystems for the Arthur Glenshops at Roubaix in northernFrance.
February
■ Tulip SheltersGT Azur, partnered by GTMatis and GT Le MansIndustrie, supplies Dutchmobile phone operatorDutchtone with 20 sheltersof the innovative, so-called“tulip” design, in which thebooth is part of the antennasupport.
■ Facelift for Le MansGT Candelia, Lesens andlight designer Pierre Bideauwere behind the lighting ofthe city’s main architecturalmonuments for the new millennium. In Decemberthey won the year 2000“Illuminations pérennes” award,sponsored by the FrenchMinistry for Culture. ➊
■ Farming co-operativeStarren bv was given anorder by Cehave, one of the largest Dutch farmingco-operatives, for the complete renovation ofautomation systems andpower supply in its animalfeed manufacturing plant.
March
■ European contractGTIE Photonique was selected by American equipment supplier AlliedSignal to be lead contractorfor the upgrade of the ITwiring systems in itsEuropean plants. Four GTIEbusiness units were involvedin work on the first of thesefacilities in the UK,Netherlands and France.
■ Electronic toll-payingLesens Chartres was selected by Cofiroute tointroduce on its network the first phase of the TISinter-operator electronictoll-paying system, which will allow a subscriber to usehis badge on all motorwaysin France. ➋
April
■ Axians, the new GTIEbrand for networks andintegration systemsAxians handed over theStannet II network to thethree universities in Nancy,eastern France, which links10,000 workstations at 41different locations. A jointproject with the vendorCisco. Axians will also supplythe maintenance.
■ Cruise liner outfittingSDEL Donges was beenselected by Chantiers del’Atlantique to supply the airsystems for measurementand safety instrumentation,as well as the steam-routingfor 8 cruise ships. ➌
■ Wood and linen panelsUnilin, the leading Beneluxmanufacturer of wood andlinen panels, chose Mangin-Egly Industrie for the powerdistribution systems in itsnew plant at Bazeilles in theArdennes.
May
■ Geographic informationsystemGénérale Infographie LeMans (GTIE) produced forthe Electricity Supply Board,that serves some one andhalf million customers inIreland, a geographical infor-mation system for its VeryHigh Voltage grid.
■ Remote monitoringAxians installed the LAN in3 Kronenbourg Breweriesplants in Strasbourg and will provide supervision byremote monitoring.
June
■ Glasgow bridgeGTIE PIC designed the automatic control systemthat kept the bridge perfectly balanced duringreconstruction of the pillar.Traffic continued uninterrupted during theworks.
■ Information transmissionnetworksGTIE Réseaux Multimédiasfinished laying the 30 kmCompletel loop in the sewersof Paris, as well as the firstphase of the LD cable infrastructure, amounting tosome 70 km, in the regionaround Châlon-sur-Marne.
■ World first in nanofiltrationThe Syndicat des eaux d’Ile-de-France regional waterboard chose GTIE IEP for theturn-key supply of electricalequipment, automatic controland monitoring systems for the world’s first industrialnanofiltration facility at the Méry-sur-Oise drinkingwater plant. ➍
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July
■ GTIE InternationalCreation of GTIEInternational, marking theGroup’s determination togrow in Europe.
■ Public lighting on ReunionSETB Collectivités andBourbon Lumière wereawarded the contract forpublic lighting on Avenue St.Denis after redevelopmentfor exclusive way publictransport systems.
■ Local loops in EgyptGTIE Réseaux Multimédiascompleted an engineeringdesign project for Egyptianoperator Mobinil.
■ Clinique Pasteur inToulouseAfter installing the powersupply systems in the clinic,Fournié-Grospaud Adexiawas given an order for theinformation system forinventory management andproduct traceability.
August
■ Hypermarket interconnectionAxians installed the inter-connections hypermarketsbelonging to a large Frenchfood retailer, including in particular, the Visa cardauthorisation network.
■ Europe’s most modernfurnaceLee Beesley supplied theelectrical engineering andequipment for Europe’smost modern furnace, in the foundry operated byDarcast ComponentsLimited in Birmingham
■ Telecom maintenance10 GTIE business units werechosen to meet all the maintenance needs in thetechnical facilities for operator ’9 Telecom’ locatedall over France. ➎
September
■Connections for CaenMasselin Télécom was awardedthe contract to develop the voice communicationsystem for various municipallocations.
■Uranium fuelA company called FrancoBelge de Combustible choseGTIE Rhône-Alpes Industrieet Transport and Van derLinden Groep to build theIT system for controlling itsuranium fuel manufacturinglines.The system will equipthe Pierrelatte and Desselfacilities in Belgium.
■ A century of entrepre-neursTo celebrate its 80th birth-day, Garczynski Traploirpublished a book that tellshow the company has keptalive the entrepreneurialendeavour of its foundersthroughout the century.
October
■ Polypropylene plantSDEL Industriel Central andControlmatic are to supplyinstrumentation for a plantnear Essen in Germany.
■ GTIE meets the studentsWith the Franco-Germanstudent forum at Metz ineastern France, GTIE kickedoff its 99/2000 forum campaign.There is to be atotal of 20 meetings of thiskind which form part ofGTIE’s resolute policy ofhiring young people.
November
■ Météorologie et qualitéde l’airDegréane commissioned the complete weather fore-casting system for the newairport in the ChampagneArdennes region.SEII, European leader in thefield of air quality with itsproducts certified by theFrench Ministry for theEnvironment, extended itsrange of products for airquality monitoring networks,and changed its name to Iséo.
■ Telecom weekGTIE was a participant at“telecom week” at the CNITexhibition centre at LaDéfense. ➏
■ Helicopter airliftSELT used helicopters tohoist the pylons and lay atensioned Very High Voltageline for EDF in the Vosgesmountains in eastern France.
December
■ Friendly take-over bid for Swedish group EmilLundgrenGTIE launched a friendlytake-over bid for EmilLundgren, one of the top 5Swedish companies in electrical engineering andinformation technologies. ➐
■ Rebuilding after thestormThe very next day after thestorm that hit France, 2,000GTIE employees went towork to repair the powersupply systems.➑
■ Automated control systemsStarren is awarded 3contracts for automated factory control systems from Heineken, Zeneca and Riedel.
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employing a staff of 30,000 dedicated professionals in the fieldsof information technology and power and energy supply. In closeproximity to their customers, and constituting a tightly-knit net-work themselves, they are able to join forces to satisfy the mostdemanding expectations and deliver the most complex projects.
700*
b u s i n e s s u n i t s
30,000*
p r o f e s s i o n a l s
workingt o g e t h e r t h r o u g h m a j o r b r a n d n a m e s
Already the leader in France,GTIE is accelerating the pace of its growth in
Europe
■ F o u r n i é - G r o s p a u d ■ G a r c z y n s k i T r a p l o i r ■ G T I EI n t e r n a t i o n a l ■ G + H M o n t a g e ■ L e f o r t F r a n c h e t e a u ■
N i c k e l ■ S a n t e r n e ■ S D E L ■ Tu n z i n i ■ Wa n n e r I n d u s t r i e ■
* April 2000 figures
Networks for lifeGTIE came into being at the same timeas the supply of commercial electricity,or even before: the oldest company,“Maison Jean et Chabrie”, won its firstcontract almost two centuries ago in1817 to supply candle-lighting to theAssemblée Nationale, the Frenchparliament and in 1883 Clémançon waslighting the Paris Opera House with thebrand new incandescent lamp.
After the discovery of electricity, thepioneers in GTIE and their successorsmade a substantial contribution tobringing electricity to all, in particularthrough involvement in the constructionof power stations, transmission anddistribution networks, and themanufacture of equipment for the use ofelectricity in factories, towns and all theenvironments where you will find people.
Electrical power, which in 1999accounted for 60% of GTIE’s activity,remains more than ever central to itsbusiness. Because of what electricity isand what it can do, it will continue to beused more and more. Innovation andconstantly developing standards regularlygenerate new types of equipment. Inaddition, now that the Europeanelectricity market has been opened tocompetition, fresh opportunities arearising, such as the development ofsmaller, more local generation facilities -CHP for example.
The direct descendants of electricity,information and communicationtechnologies are experiencing explosivegrowth and giving GTIE business unitsaccess to many new markets: fibre opticlinks, micro-wave networks, local loops,
mobile telephony, network and systemintegration, multimedia...
The range of applications is wide: infactories to optimise production facilitiesalong with monitoring and controlsystems, in businesses with increasinglypowerful voice-data-image networks, forlocal authorities and infrastructureoperators in charge of supply systems,traffic networks or parking facilities.
Information and communicationtechnologies accounted for 40% of theGTIE sales in 1999 and should soon riseto 50%.
SGE’s thermal and mechanical activitieswere added to GTIE in March 2000.They bring, in the fields of fireprotection, thermal insulation, thermalenergy production and climate control,acknowledged expertise offering manysynergies that will make it possible todevelop genuinely innovative turn-keysolutions combining differenttechnologies in Europe.
Today, energy and information technologies are of core importance in
everything that we do: our homes, our businesses, our cities are permeated
by these networks that have become indispensable in our lives. It is the
business of GTIE, the group and its staff, to integrate them into engineering,
installation and maintenance solutions delivered to its customers for improved
production, improved communication and an improved life.
inGénierie des Technologies de l’Information et des Energies(ENGINEERING IN INFORMATION TECHNOLOGY AND ENERGIES)
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The senior management of GTIEcombines the strict application of a fewrules, in particular the use of a commonbusiness management system, withbroad entrepreneurial freedom.Independence, initiative, accountability -i.e. entrepreneurship - are the coreprinciples.They allow each of its 700business units to be as responsive andcreative as possible, and to give all its30,000 staff members the room theyneed to fulfil themselves and to grow.
A GTIE spirit has thus been forged,perpetuating that of its first pioneers, asubtle blend of strong customer-awareness, the goal of delivering - andcontinuing to deliver - outstandingservice and trust in people.This spirit
has gone from strength to strengthduring GTIE’s process of externalgrowth in Europe, with each newbusiness unit taking the group anotherstep forward.
In a world of far-reaching and fast-moving change, it is important to bequick on your feet so as to anticipatedevelopments but also to respond tothe growing expectation of turn-key andtailor-made solutions. Operating througha system of multi-layered networks,GTIE’s business units are constantlyhoning their skills, pooling their expertiseand partnering each others’ solutions.They are thus able to combine local-operator service with the clout of amajor corporation, bringing with it the
full range of required technologicalexpertise and the capability to take onevery stage of a project, from design toafter sales maintenance.
Illustrating the strength of its networkand its market-responsiveness, theAxians brand was created by GTIE in1999 to bring together all its networkand system integration operations.Withsome twenty business units in closepartnership with several major vendors,Axians is the confirmation that GTIEintends to be a leading player on thismarket in Europe. Similarly, the Granioubrand now identifies the GTIE solutionsin radio-communication, whether fordesign or site location, deployment ormaintenance.
Living as a network
After completion of a process of external growth unprecedented in its field and that now makes it number one in France, GTIE is extendingthis approach to the European continent. Following the successful integration of a large number of European companies, the recentaddition of SGE’s thermal and mechanical activities has reinforced its presence in Europe, particularly in Germany. It will boost sales to 3 billion euros, 40% of which will be outside of France, and extend its solution range to turn-key projects combining several technologies.
A new dimension in Europe
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the great networks of life
solutions for
improved production
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for ISOCHEM.This capability enabled the group tocomplete the installation, in the space of just 4 weeks,of the regulation systems on a steam cracking plant atElf Atochem’s Carling facility, during its periodicshutdown every five years. GTIE has also installedautomatic systems and renovated the electricalequipment in smelting furnaces for Valeo Fonderie,supplied instrumentation for the Swedish group AstraSubstance Pharmaceuticals at its factory in Dunkirk,and for the Polypropyl Polyolefine GmbH plant atGelsenkirchen.
Guaranteeing production qualityand consistency: maintenance is ahigh value-added activity
Business customers are outsourcing this responsibility,and there is growing demand for process safety.Preventative maintenance, from diagnostics toconsulting in matters of purchasing, is growing as canbe seen by GTIE’s work for DOW/BSL in Germany.Similarly, ETG, which makes bodies for the RenaultTrafic, has chosen GTIE to supply all maintenance forthe production facilities at its factory in Gennevilliers.
Guaranteeing productiontraceability and quality
Reliable product traceability is now arequirement especially in the food business.For the SOBEVAL meat-processing plant in Rouen,GTIE developed an innovative system that offers rawmaterial traceability and planned flexibility.
With several GTIE software products such as GIRISEau, GIRIS Environnement or Superoxydose, whichprovides automatic control of sewage plants, it ispossible to guarantee water traceability and to managedrinking water resources.
CPI GFA, a multilingual application for processmonitoring and control developed by GTIE iscurrently being used in some 500 different facilitiesaround Europe, and can also boast a large number ofreferences.
Improving and developingproduction facilities
GTIE has responded to a strong demand frombusinesses that seek efficient productionfacilities throughout Europe.
In the automotive sector, the group is consolidating itsposition. It has developed an innovative concept withthe name Maestro: a mobile test stand, that has givenrise to a new business unit, GTIE Maestro, which isworking in partnership with Controlmatic on thepromising German market.The first project they havecompleted is a prototype test stand for a companycalled D2T.
GTIE has recognised expertise in the very demandingfield of the fitting of doors and bonnets, where itssolutions are developing in the direction of anautomated production system. Renault has chosen theGroup for the design and manufacture of thebodywork line on the future Laguna and Safrane, andPeugeot has chosen us for the installation of doorsand bonnets on the new Xantia.
GTIE business units develop, eitherindependently or in partnership, total solutionsallowing their customers to monitor andoptimise their facilities.
As an illustration of this competence in total plantautomation we would quote the following examples:Heineken breweries and CEHAVE, a major farmingco-operative, both in the Netherlands. In thepharmaceuticals industry, GTIE supplied the turn-keypackage of the power supply, monitoring and controlsystems for the filtration, drying and packaging units
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GTIE’s structure as a network of business unitsguarantees its industrial customers a partner that is local, responsive, innovative and capable to move with them onto international marketswith well-tailored solutions. Its staff work tocombine information technologies with powersupply systems to help customers improve theircompetitiveness.
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Automation of theJaguar car seat teststand in the UK.
Automation of grainsilos at Saint-Jean-de-Losne in France.
Electrical equipment andmonitoring and controlsystems for the smokefiltration at the Calcia deCouvrot cement worksin France.
Measurement and analysis instruments at the Dow BSL plant in Schkopau, Germany.
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Solutions for improvedcommunication
In private and municipal networks, the Group’sactivities have been growing both in engineering andinstallation of voice-data-image communicationsystems as in Toulouse, Caen and Gonfreville-l’Orcher.In the wake of telecoms deregulation, the Group alsodelivered a private network for IBM linking twobuildings, a project that carried around the clocktrouble-shooting service guaranteed by contract.
Facilitating business to businesscommunications
Businesses today are setting up extensivecommunication systems that are of vitalimportance. In order to offer them efficient services,the group has brought its complete solutions togetherunder the Axians brand composed of a network of 20 business units. Under this brand name GTIE hastaken its place among the top European operators in the field with sales of over 30 million euros. Axiansfirst contract was for maintenance of Cegetel’sdomestic in-house data transmission network.
Today, the reception given to customers,especially over the phone, has to be of thehighest standard. Businesses therefore want tohave the most efficient communication systemspossible. GTIE meets this demand by developing newsystems architecture or outsourcing solutions thatincorporate advanced technologies such as Internetprotocol (IP) voice services or combined telephonyand IT.This technical expertise in voice and datasystems makes GTIE unique in Europe.
The installation by Axians of the IP voice systembetween two industrial facilities, one in Elbeuf inNormandy and the other in Nancy in eastern France,is but one example of this.
In private fibre optics networks new offeringshave been developed: blown fibre optic cabling, cablingarchitecture inspection and auditing, multi-site solutionsincluding cabling and a service package.The number ofpartnerships with major vendors such as Cisco,Checkpoint and Lucent Technologies has expanded.Theyear 1999 was a rewarding year for installation projectswith GTIE supplying AXA, Paribas (with the blown fibretechnique), Kronenbourg and Roche laboratories.
Installing communication networks
Demand for communication infrastructurehas continued to grow quickly with mobileradio-telephony, more and more local loops,microwave links, trunk and internationalconnections.
For transmission infrastructure a newengineering and maintenance solution is availableunder the name of Infratrans in partnership withLucent and Alcatel.The GTIE Infratrans network has 4 maintenance centres (Paris, Lyons,Toulouse andMarseilles) and more than 40 specialised operatingunits. GTIE has thus been able to lay almost 100 km of fibre optic cable along inland waterways and morethan 50 km in the Lille metro. It was awarded acontract for the design and project management of afibre optics network connecting more than 80municipalities in the Paris region.
In local loops GTIE’s capability has been proven inparticular with the installation of Completel, a 30 kmfibre optics network in the Paris sewers.
In radio-communication networks the Granioubrand now encompasses the group’s entire solutions inEurope: consulting, engineering, project management,construction, commissioning, operational assistance andmaintenance.The brand has 12 locations in France, andhas strengthened its position in Belgium, Denmark, theNetherlands, Reunion, the Antilles and the DominicanRepublic.The group has also consolidated itscapabilities in engineering, installation andcommissioning of both microwave and radio systems.
The year 1999 was highlighted by the installation of1,500 mobile phone sites and by the start of themaintenance contract for over a thousand SFR sites inthe Paris region.
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GTIE is actively involved in the explosive growth of information technologies, which already accountfor 40% of its sales. Its expertise enables the Groupto develop communication infrastructure andsolutions, whether they be local, national orinternational.
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GSM installation forDutchtone at Ettenleur inthe Netherlands.
Splicing optical fibres. Maintenance and operation of phone and computer systems in Paris for LU of the Danone Group.
Installation of a high volume voice-data-imagelink for France Telecom in Toulouse, France.
S o l u t i o n s f o r a n
improved life
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Distribution of electricity into thedomestic market
Electrical power supply is vital to our modernlives - a fact that we in France were remindedof by the storms at the end of last year. Facedwith these events, GTIE employees showed theirsense of commitment to the community by putting2,000 operatives in the field to assist in the emergencyrepairs needed to restore power.
GTIE has also continued to work on newinfrastructure projects, in particular the HV Morbrasto Villevaudé line in the Paris region and the Hemsubstation in the north of France which illustrates thecompany’s ability to offer environment-friendlysolutions.
Making the environment morecomfortable and safe
Whether it be in education, culture, health,retail or offices, today’s modern buildings relyon power, energy and data flows to makethem efficient, comfortable and safe. GTIEbusiness units, with their technical expertise anddetailed knowledge of each field, have the capabilityto supply these complex systems.
In education they have produced the video-surveillance system for halls of residence at LilleUniversity, whilst for the Ecole Normale Supérieure inLyons the power, communication and multi-mediasystems have been installed.
For the environment of the workplace GTIE issupplying the power and information systems for12,000 sq. metres of offices of Diemer Circle nearAmsterdam and has fitted the safety and securitysystems at the Renault head office in the Paris suburbof Boulogne.
In the basement of the Galeries Lafayette departmentstore, the group is automating the cold generator, in aproject involving security systems, surveillance of 5,000control points and the electrical power supply.
In the car parks at La Défense GTIE has installed thelargest intercom system in the world.
Through the expertise they possess in information,power supply and energy technologies, the affiliatebusiness units of GTIE contribute to improving thequality of life both for individuals and communitiesin homes, at the workplace or when people travel.
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Developing and enhancing our cities
The Millennium celebrations provided awonderful showcase for city lights and gave theGroup’s business units the opportunity todemonstrate their expertise in many historical townssuch as Rouen, Le Mans and Reims.
Lighting and illuminated signage in cities makefor an environment that is both safer andmore attractive to live in. GTIE has developedspecial software products for lighting technologies thatenable lighting systems to be designed and installed inways that best meet the user community’sexpectations.The group has been selected for anumber of major contracts such as for the streetlighting and traffic light systems in the new town ofSaint-Quentin-en-Yvelines or the 16 year concessionfor street and sports facility lighting in Abbeville.
Control systems and improved safetyfor road, air and maritime traffic
In a world with ever more people and goodstravelling, traffic management is becoming acrucial factor for the quality of our lives and theefficiency of our economies. GTIE has recognisedcompetence in this area and is a participant in the SIRIUSproject which involves installing traffic management androad user information systems on 230 km of expresswayin the western part of the Paris region.
GTIE has also delivered a monitoring and remotecontrol system to regulate alternating car and shiptraffic on two bridges in Guadeloupe.
There have been many contracts in the field of air trafficcontrol, such as the commissioning of the weatherforecasting system at the Champagne-Ardennes Regionairport or the power and communication networkssupplied to Terminal 2 of Lyons-Satolas airport.
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Electrical equipment,IT systems, sound system,telephony, video andradio broadcasting andfire detection on theMALILA, a support vesselfor offshore drilling rigs.
A helicopter hoists apylon before installing atensioned High Voltageline in the Vosges mountains in France
Power and communicationsystems for the EGEEtower building at LaDéfense, near Paris.
Lighting, power supply systems,access control, sound systems,phone and IT networks in onepart of the Palais des Congrèsconvention centre at PorteMaillot in Paris.
It’s our peoplethat make the difference
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that customers will require and to give every staffmember control of his or her working environment.The GTIE Academy offers customised training coursesthat are particularly good for building team-spirit.Theymeet the needs of all categories of employees:operatives, technicians, site managers, project leaders,business unit managers...
Involving staff members in thesuccess of their business unit
Incentive and profit-sharing agreements contribute toa stimulating compensation policy.These agreementshave spread throughout GTIE and resulted in 8.4millions euros being shared out in 1999.
Enhancing labour relations in the field
Good labour relations are a vital factor forsuccess for the group’s business units since theycontribute to respect between individuals and topositive discussion of business planning. Labourrelations are managed throughout the group at thelocal level through a constructive and practicalapproach with the employees concerned in the placeswhere they work to provide service to the customer.
Living the network to the full:sharing, exchanging, being open tonew and better ideas
Networking is without doubt the mostdefining characteristic of GTIE. It is illustratedthrough many opportunities for meeting anddiscussion. There are working groups set up bybusiness units operating in the same area of activity,enabling them to share experiences, methods andinvestigate or even design new solutions.The meetings,conventions, special presentation days for new staffand the training courses at the GTIE Academy areopportunities both to share experiences and to get toknow each other better.
Being part of a large network also means that foreach staff member wider prospects in terms ofgeographic and professional mobility are available.A quick, smooth, broad flow of information is one ofthe vital prerequisites for efficient networking. Intranetis GTIE’s foremost means of communication, allowingfor exchanges of information and experience. It isalready making an indispensable contribution to thegroup’s collective intelligence.
Trust
Accountability, independence, a sense ofinitiative and trust in people are the key tomanagement of GTIE. The implementation of thesebasic principles gives each staff member the means towork directly with the customer in such a way as tobuild and sustain a relationship based on trust.
Safety:constantly seeking to do better
For GTIE, guaranteeing safety is a basicrequirement. An extensive programme has beenimplemented within the Group. It involves action in the field: awareness-raising, training and site inspectionsthat are organised with our safety specialists. In 1999the safety conference Etats Généraux de la Sécuritébrought together several hundred Safety Managers.The improvement of around 30% in “occurrence” and“severity rates” in the group over the past two yearsconfirms that everyone is getting involved andencourages us to continue our efforts.
Preparing the future: more than500 young people hired in 1999
GTIE took part in many student andrecruitment forums around Europe in 1999.Students can apply directly for placement positions inthe Group’s business units via the websitewww.groupe-gtie-stages.com.Two hundredtraineeships were offered in 1999, of which more thana half resulted in permanent positions. Particularattention has been paid to make new recruits feel athome, with the organisation of induction courses,special presentation meetings and the extension of thetutoring scheme.This type of action will be steppedup, in particular for other European countries with theintention of bringing more young Europeans on boardand boosting international mobility.
Anticipating the need for new skills:6% of the payroll equivalent goesinto training
Each year, new training courses are devised toanticipate the development of the new skills
The success of the GTIE group is the fruit of the enthusiasm, commitment and professionalism of its30,000 staff members working for their customers.
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Auditors
Deloitte Touche Tohmatsu-Audit
RSM Salustro Reydel
Antoine de Riedmatten
Bertrand Vialatte
Bernard Cattenoz
fi n a n c i a lre p o rt
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Auditors’ report
GTIE Group management report
Consolidated profit and loss account
Consolidated balance sheet
Consolidated cash flow statement
GTIE RA 99-Exé/Ang 29/06/00 11:38 Page 18
GTIE management report and summary of the financial statements for 1999
Auditors
Deloitte Touche Tohmatsu-Audit
RSM Salustro Reydel
Antoine de Riedmatten
Bertrand Vialatte
Bernard Cattenoz
In performing the task that has been entrusted
to us by your Shareholders’ Meetings, we have
carried out an audit of the consolidated financial
statements of Compagnie Générale des Travaux
et d’Ingénierie Electriques drawn up in French
francs for the financial year ending 31 December
1999, as appended to this report.
The consolidated financial statements were
approved by the Board of Directors. It is our
responsibility to express an opinion on the said
financial statements on the basis of our audit.
We have carried out our audit in accordance
with professional standards. Such standards
require the exercise of all due diligence in order
to obtain reasonable assurance that the
consolidated financial statements are free of any
material misstatement. An audit consists of
examining, on a test basis, the evidence
supporting the data contained in the said
financial statements. It also consists of an
evaluation of the accounting principles that have
been followed and of the significant estimates
used to draw up the financial statements, and an
evaluation of the overall manner in which they
are presented.We consider that our checks
provide a reasonable basis for the opinion
expressed below.
We certify that the consolidated financial
statements comply with the law and are in good
faith, and give a true and fair view of the financial
position and net assets, as well as of the result of
the whole that is constituted by the undertakings
included in the consolidation.
In addition, we have also carried out a check of
the information given in the Group management
report.We have no comment to make on its
good faith and consistency with consolidated
financial statements.
Neuilly and Paris, 27 March 2000
Auditors’ report on the consolidatedfinancial statements
99financial year ending 31 December
Market and businessdevelopments
GTIE’s business activities enjoyed a favourable,
sometimes very favourable, environment in 1999.
Demand for activities linked to the supply of
electrical power (60% of sales) remained high
overall since electricity consumption has continued
to grow against the background of deregulation
and in addition information and communication
technologies have undergone explosive growth.
From being merely marginal only a few years ago,
this area has now expanded to the stage where it
currently accounts for 40% of the group’s sales.
Given the structural adaptations introduced over
the last 2 years, HV line business for EDF Transport
was strong throughout the year, both in engineering
work and overhead line or underground pipe
operations. In the area of transformer substations,
the framework contract with EDF Transport was
renewed on the strength of the high standard of
the solutions and services supplied by GTIE
business units. Special mention should also be made
of the very good performance in monitoring and
control systems.
In medium and low voltage distribution, rural
electrification programmes have continued at
varying paces and EDF Distribution scaled back its
investment but these developments were mostly
offset by the emergence of new solutions for local
authorities and the strength of demand for public
lighting.
Demand for communication infrastructure
continued to grow: mobile phones, more and more
local loops and radio frequency systems,
investments by many new operators. Despite a
difficult start to the year, outfitting of radio-
communication sites grew in 1999. GTIE’s range of
services in this area has been made more visible by
the adoption of the Graniou name and has been
steadily extended.
In the industrial sector, GTIE was able to capitalise
on a generally strong economy and to take
advantage of its long-standing strategy based on
process specialisation.There was confirmation of
the market shift towards more and more
comprehensive solutions, where maintenance plays
an increasingly important role.There was a large
volume of work in the industrial sector related to
information and communication technologies.
Preparations for the Millennium generated
considerable additional business.
In the service sector, just as in the industrial field,
process specialisation and the enhancement of
GTIE’s value-added solutions, in particular as
regards to information and communication
technologies, have given the group considerable
competitive edge. On an expanding market, this
activity produced a very encouraging performance,
especially in the Paris region.
The area of business communication systems has
continued to grow. GTIE’s solutions in terms of
systems and network integration have been
grouped together under the single banner of
Axians making for more immediate brand
recognition on the market. A better and more
extensive range of services, investments in human
resources and the partnerships concluded with
major vendors will provide for growth.
Outside France, GTIE’s activity registered more
than 20% increase over 1998 and in general had a
good business year in 1999.
In the United Kingdom the economic downturn
had a negative effect on business for Lee Beesley
and Deritend especially in the automotive sector
and in the oil industry which was badly hit by the
fall in the price of crude. Nevertheless, thanks to
the readjustment measures adopted, it was possible
to limit the impact on performance and it is hoped
that there will be a resumption of growth in the
year 2000. In the Netherlands business grew
substantially on an expanding market and
performances were very satisfactory all round. In
Germany Controlmatic confirmed in 1999 its
recovery begun in 1998 and was able to have a
very good year with a sharp rise in business
volumes. A number of major projects were
completed there in the paper, chemicals and petro-
chemicals sectors.
In all, sales generated outside of France accounted
for 20% of the total.
Financial results
Under the prevailing market conditions described,
GTIE recorded a turnover in 1999 of 1.85 billion
euros, an increase of 7% over 1998.
Operating income was 77 million euros, a record
high, representing 4.2% of the turnover. Net profit
for the group was 34 million euros.
GTIE Group management report
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Outlook for 2000
The business year 2000 started well for GTIE in a
strong economy. Orders taken and invoicing levels
in the first two months have confirmed the forecast
for the full year. A significant feature of this period
was the exceptional mobilisation of 2,000 GTIE
employees who played their part in the emergency
repairs required to restore service on the French
grid that was badly damaged by the severe storms
on 26 and 28 December 1999.
The success, at the very start of the year, of the
friendly take-over bid for Emil Lundgren enables
GTIE to establish its presence in Scandinavia and is
an important milestone on its road into Europe.
Finally, the decision to make SGE’s “Thermique et
Mécanique” activities part of GTIE has given rise to
a new entity with outstanding potential in the fields
of power supply, information technologies and
thermal and mechanical engineering.With its staff
of 30,000 employees it will generate net sales of
around 3 billion euros in 2000, 40% of which
outside France. GTIE will be able to capitalise on
the synergies now possible between its different
businesses, in particular through solutions
combining a range of technologies.
Consolidated profit and loss account(in thousands of euros) 1999 1998
Net turnover 1,854,118 1,735,384
Other operating income 11,771 13,591
Materials cost of sales (492,156) (461,328)
Outside services (520,396) (469,807)
Payroll (665,094) (647,427)
Other operating expenses (51,223) (49,205)
Amortisation, depreciation and provisions (59,883) (49,241)
Operating profit 77,137 71,966
Financial income 11,294 13,751
Financial charges (4,362) (3,785)
Net financial provisions 441 2,555
Net financial income 7,374 12,520
Operating profit after interest 84,511 84,486
Net profit on disposals of fixed assets 131 8,100
Other net extraordinary expenses and income (3,673) (7,856)
Extraordinary amortisation, depreciation and income (4,704) 2,192
Extraordinary profit (8,246) 2,436
Profit before taxation, profit-sharing and amortisation of goodwill 76,265 86,922
Amortisation of goodwill (4,213) (4,077)
Employee profit-sharing (6,244) (6,920)
Tax on profits (29,010) (28,977)
Net profit of fully-consolidated companies 36,798 46,949
Profit/(loss) of companies accounted for by the equity method 0 (30)
Consolidated net profit 36,798 46,918
Minority interests (2,704) (1,229)
Consolidated net profit - Group share 34,094 45,690
Liabilities
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Fair value adjustments 7,311 7,995
Other intangible assets 2,114 2 246
9,425 10,241
Goodwill (net) 44,651 46,038
Owned property, plant and equipment 376,477 360,171
Fixed assets in construction 4 144 3,918
Amortisation and depreciation (235,347) (230,546)
145,274 133,542
Non-consolidated investments 2 403 2 081
Investments accounted for by the equity method 0 234
Other long-term investments 6,415 6,172
8,818 8,487
Total fixed assets 208,168 198,308
Stocks and work-in-progress 22,970 18,668
Accounts receivable 780,968 631,306
Deferred tax assets 6,473 8,698
810,411 658,671
Financial debtors 400,723 314,712
Short-term investments 8,607 20,009
Cash and other short-term funds 41,612 43,237
450,942 377,959
Total short-term assets 1,261,353 1,036,630
Total assets 1,469,521 1,234,937
(in thousands of euros) 1999 1998
Capital 94,815 94,815
Share premium account 63,079 63,079
Group share of:- consolidated reserves 37,604 3,153- foreign currency translation reserves 1,527 367- consolidated profit 34,094 45,690
Shareholders’ funds (Group) 231,118 207,104
Minorities’ share of:- consolidated reserves 3,449 2,883- consolidated profit 2,704 1,229
Shareholders’ funds (minorities) 6,153 4,111
Total shareholders’ funds 237,271 211,215
Grants and provisions 149,612 136,302
Long-term borrowings 20,147 21,748
Other long-term debt 6,791 6,564
Total long-term capital 413,822 375,829
Accounts payable 1,023,176 831,744
Deferred tax liability 14,018 10,172
1,037,194 841,916
Short-term borrowings 12,750 11 668
Other short-term debt 5,755 5,524
18,505 17,192
Total short-term debt 1,055,699 859,108
Total liabilities 1,469,521 1,234,937
Consol idated balance sheetAssets
Consol idated cash f low statement(in thousands of euros) 1999 1998
Operating activities
Income before extraordinary items, interest, dividends, taxes, etc. 137,522 121,457
Financial and extraordinary items (3,782) 20,442
Taxes and profit-sharing (35,254) (35,897)
Operating cash flow (not including dividends received from the companies accounted for by the equity method) 98,486 106,002
Net change in working capital 47,753 (5,555)
Net cash provided by operating activities (I) 146,238 100,448
Investing activities
Industrial investments (60,601) (52,391)
Disposals of fixed assets 6,094 8,047
Net industrial investments (54,507) (44,344)
Financial investments (5,630) (15,862)
Disposals of investments 3,149 9,519
Net financial investments (2,480) (6,343)
Changes in long-term investments (394) 76
Net cash used in investing activities (II) (57,381) (50,611)
Financing activities
Increases in capital of the parent company 0 0
Increases in capital of subsidiaries subscribed to by third parties 1,846 1,125
Dividends distributed by the parent company (11,187) (17,541)
Dividends paid to shareholders of subsidiaries (922) (256)
Dividends received from the companies accounted for by the equity method 0 0
Other long-term debt (1,351) 1,721
Net cash provided by / (used in) financial activities (III) (11,614) (14,951)
Net cash flows for the financial year (I + II + III) 77,243 34,886
Net financial surplus (indebtedness) on 1 January* 360,766 315,785
Effect of change in scope of consolidation, etc. (5,572) 10,837
Restatement of capital leases 0 (741)
Net financial surplus (indebtedness) on 31 December* 432,437 360,766
* Not including the effect of disposal of commercial paper.
contactsFOURNIÉ-GROSP AUD19,impasse Fourcaran - BP 2160 31021 Toulouse Cedex 2 - FranceTel.: 33 5 61 58 79 00 - Fax:33 5 61 58 04 64
GARCZYNSKI TRAPLOIR24,rue Thomas-Edison 72088 Le Mans Cedex 9 - FranceTel.: 33 2 43 77 77 77 - Fax:33 2 43 28 50 19
GTIE INTERNATIONAL280,rue du 8 mai 1945 - BP 72 78368 Montesson CedexTel.: 33 1 30 86 71 00 - Fax:33 1 30 86 71 09
SANTERNE23-25,rue du Dépôt 62063 Arras Cedex 9 - FranceTel.: 33 3 21 60 93 00 - Fax:33 3 21 48 32 95
SDELImmeuble Gallieni - 2,rue Benoît-Malon BP 144 - 92154 Suresnes Cedex - FranceTel.: 33 1 41 38 50 00 - Fax:33 1 41 38 50 50
LEFORT FRANCHETEA U1, avenue du Président Georges-Pompidou92508 Rueil-Malmaison Cedex - FranceTel.: 33 1 47 32 92 77 - Fax:33 1 47 49 07 25
TUNZINI41,rue des Trois Fontanot92024 Nanterre Cedex - FranceTel.: 33 1 41 37 87 00 - Fax:33 1 41 37 87 87
WANNER INDUSTRIE41,rue des Trois Fontanot92024 Nanterre Cedex - FranceTel.: 33 1 41 37 87 00 - Fax:33 1 41 37 87 87
G+H MONT AGEBürgermeister - Grünzweig - Straße 167059 Ludwigshafen - GermanyTel.:49 621 502 0 - Fax:49 621 502 326
NICKELSiegstraße 28-3457518 Betzdorf - GermanyTel.:49 27 41 282 0 - Fax:49 27 41 46 31
Fotogram Sto
Christian Dau
GTIE RA 99-Exé/Ang 29/06/00 11:30 Page 24
Photographs : Photo libraries FG - GT - GTIE - Santerne - SDEL - Fotogram Stone - Cyberimage / Jon Riley / Joseph Pobereskin /Laurence Dutton / Christopher Bissell
Image Bank / Chalfant - Stock Image - Studio Pons - Creacom AudiovisuelChristian Daumerie - Pascal Lemaitre - Guy Durand - Gerhilde Skoberne - Photo libraries 9 telecom.
c o m m u n i c a t i o n
Design and production
P h é n i x
GTIE RA 99-Exé/Ang 29/06/00 11:30 Page 25
INGÉNIERIE DES TECHNOLOGIES DE L’INFORMATION ET DES ENERGIES(ENGINEERING IN INFORMATION TECHNOLOGY AND ENERGIES)
Joint stock company with a capital of FF 621,944,000RCS Versailles B 391 635 844
Siret: 391 635 844 00023 - NAF 453A280, rue du 8 mai 1945 - BP 72
78368 Montesson Cedex - FranceTel.: 33 1 30 86 70 00 - Fax: 33 1 30 86 70 10
Since 25th May 2000, the new name of the SGE Group is VINCI.www.groupe-gtie.comw
ww
.gro
upe-
gtie
.com
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