2013-vinci-annual-report

Outlook
in Tajikistan, the new terminal at Dushanbe
airport; in Egypt, Line 3 of the Cairo metro
and the Asyut dam on the Nile; in Qatar, the
Sheraton Park in Doha and light rail stations
for the new town at Lusail; in Chile, mine
tunnels at El Teniente; in Malaysia, the
Berjaya towers in Kuala Lumpur; in Hong
Kong, the new Shatin to Central Link metro
line; and in Australia, the LNG tanks for the
Wheatstone project.
VINCI Construction Terrassement generated
revenue up 65% to €0.8 billion. Close to
three-quarters of its business (€591 million)
came from the SEA HSL project. In France,
the company was also involved in phase 2
of the East European HSL, as well as several
road and motorway projects (A43, A304 and
RD120 in a joint venture with Eurovia as
part of a PPP), and it continued its work to
restore the marine environment of Mont
Saint Michel. New contracts, which will go
some way to making up for the decline in
business from the SEA HSL in 2014, were
signed to cover rerouting the A9 motorway
around Montpellier, bypassing Boissy Saint
Léger on the RN19, widening the A71 at
Vierzon, consolidating dykes along canals
in the Rhône Alpes region, and Reunion
Island’s new coastal highway.
03
Outside France, the company delivered
the 84 km Bata–Ayak N’Tang motorway in
Equatorial Guinea and began highway
earthworks for the East End Crossing project
in the United States.
Dodin Campenon Bernard, the major engineering
structures specialist, was another
to capitalise on VINCI synergies, with revenue
up 28.6% to €0.3 billion, half of which
was generated by the SEA HSL. The company
brought its expertise to bear across a
large number of VINCI projects, in complex
buildings (Louis Vuitton Foundation in
Paris, Terrasses du Port in Marseille,
Tokamak building in Cadarache), transport
infrastructure (viaduct over the Sormonne
on the A304, engineering structures for the
East European HSL, the Croix-Rousse
Tunnel in Lyon) and hydraulic engineering
(underground hydroelectric engineering at
Romanche Gavet, the Achères biofilter
project).
In new projects, other than major VINCI
operations (Reunion Island coastal highway,
bridge over the Wouri in Cameroon), Dodin
Campenon Bernard will also be carrying
out underground works on Line B of the
Rennes metro in France (8 km of tunnels,
nine stations and four associated shafts).
02
New orders in 2013 took the
year-end order book to €17.3 billion,
up 1.7% relative to 2012, suggesting
that revenue will hold steady in
2014, or perhaps increase slightly. In
France, major projects will launch or
continue, such as the SEA HSL, the
Tokamak building at Cadarache, the
Bordeaux and Lyon stadiums and the
Arena 92. Combined with the
company’s deep roots in its markets,
these projects will contribute to
maintaining the resilience of the
company’s business. In the medium
term, business will also be boosted
by infrastructure spending for the
Grand Paris programme.
Elsewhere in Europe, business
should hold up well in the United
Kingdom and there is a chance that
Central Europe, Poland in particular,
will begin to pick up.
In Africa, Sogea-Satom has been
growing at a planned, sustained
rate for many years and business
should remain brisk. Specialist
engineering contractors Soletanche
Freyssinet and Entrepose Contracting
are also developing well and are
making the most of their expertise
in some 100 countries. In major
projects, with an order book at an
all-time high, the outlook for strong
growth is very positive, and this will
also help VINCI to extend its reach
around the world. In all its markets,
VINCI Construction will further
embed the synergies in its offers
between its divisions’ production
and management resources and
with other VINCI business lines.
These synergies, which were
already a feature of most recent
major operations, will be further
extended to include a broader
spectrum of international projects.
This is a process that will help to
ensure that VINCI stands out in its
increasingly globalised markets at a
time when projects are becoming
ever more complex.
Looking beyond the short term and
the current difficult conditions in
some European markets, VINCI
Construction will benefit from
sustained long-term demand in all
the main sectors in which it
operates: transport and energy
infrastructure, urban development,
water supply and treatment
systems, public facilities (healthcare,
education, recreation), and
new generation residential, office
and service buildings.
CONTRACTING / VINCI CONSTRUCTION 109