Profile France?s market leader in construction and a major global player, VINCI Construction combines an unparalleled array of capabilities in building, civil engineering, hydraulic engineering and services.
Its business consists of three complementary components:
a network of local subsidiaries, in France, through VINCI Construction France with a well-established network of 375 profit centres, and internationally, with VINCI Construction UK in the United Kingdom, CFE (46.8% held by VINCI) mainly in Benelux, SKE in Germany, Warbud, Prumstav-FCC and SMP in Central Europe, Sogea-Satom in Africa, as well as 30 local branches in Overseas France;
specialised, highly technical business lines including specialised civil engineering technologies with Soletanche Freyssinet (structures, soil foundations and technologies, nuclear engineering), dredging with DEME (50% held by CFE) and oil and gas infrastructure with Entrepose Contracting;
management of complex projects with VINCI Construction Grands Projets, operating worldwide on major civil engineering and building structures.
VINCI Construction exemplifies the Group?s entrepreneurial spirit and management approach, combining a decentralised structure, networked collaborative work, empowerment of local managers, development of employees and a responsive organisation. This model has contributed to the introduction of new standards of performance in building and public works.
Revenue: ?14,549 Million
Operating profit from ordinary activities: ?671 Million
Net profit attributable to equity holders of the parent: ?434 Million
Workforce: 72,000 employees
Perspectives VINCI Construction?s order book at the end of the year was valued at ?15.8 billion, virtually identical to the prior year?s level. It included, however, a growing proportion of major, long duration civil engineering projects. In this context, VINCI Construction anticipates another contraction in revenue for 2010. Continued application of its consistent policy of selectivity, cost control and margin retention, including a conscious reduction in business volumes, if necessary, should ensure that operating profit margins are maintained. VINCI Construction?s strong resistance to cyclical developments is a result of the diversity of its businesses, markets and customers. This resilience is reinforced through its growing internationalisation (50% of revenue generated outside France in 2009, compared with 48% in 2008) and increasing expertise in high technology businesses.
Beyond the current economic uncertainty, VINCI Construction continues to benefit from favourable underlying trends. Its business will be sustained over time by the considerable demand in mature economies that face significant needs to modernise and environmentally optimise facilities as well as from emerging countries where new construction is increasing. This demand involves the principal markets in which VINCI Construction companies operate: Transport and energy infrastructures, urban development, functional buildings - particularly in the areas of healthcare and education. A growing portion of these projects will be conducted through PPPs. VINCI Construction also will benefit from the market?s already visible evolution towards increasingly large and complex projects that include a strong ?systems? component. VINCI?s ability to take charge of such operations, including their financial aspects, and VINCI Construction?s expertise in managing major projects are significant competitive advantages. VINCI?s new integrated contracting organisation and its increasing capabilities in all stages of construction projects, from engineering and systems to operations and maintenance, will further reinforce its ability to respond to growing customer demand for integrated solutions.