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2010 1st half-year financial information restated

13. 07. 2011 - Finanzen

VINCI decided to account for jointly controlled companies using the equity method as from financial year 2010. This equity accounting method in accordance with IAS 31 “Interests in Joint Ventures” is already used by other European groups operating in the construction and concessions sector. This method gives 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 method is consistent with the IASB’s recent decision to eliminate the proportionate consolidation method for jointly controlled entities.
The 2010 first half-year statements have been restated to enable comparisons to be made from one year to the next.
The tables highlight the main changes between the previous and method in accounting for interests in Joint Ventures.