2013-vinci-annual-report

Outside France, revenue totalled €3,793 million, up 7.4% on an actual basis (down 1.8% on a comparable structure basis). The situation varied
between countries and businesses: revenue rose in Germany, the UK, Brazil, Belgium, the Netherlands and Switzerland, as well as in the oil
and gas sector. However, after strong growth in 2012, business levels fell in Morocco and Sweden, and continued to decline in Southern
Europe.
Eurovia: €8,613 million (-1.5% actual; -0.8% on a comparable structure basis)
In France, 2013 revenue was €5,229 million, up 1.4% on an actual basis (up 1.2% on a comparable structure basis). The upturn in order intake
in the second half of the year led to stable business levels in the traditional roads sector in most regions despite the decline recorded in the
first half due to poor weather conditions. Specialist activities in rail infrastructure and urban transport continued to grow.
118 VINCI 2013 ANNUAL REPORT
Outside France, revenue totalled €3,384 million, down 5.7% on an actual basis (down 3.7% on a comparable structure basis). Revenue fell
sharply in Central Europe (Poland, Slovakia and the Czech Republic) due to the completion of several major motorway projects and the market
contraction intensified by poor weather conditions in the first half. Business levels also fell in Germany and Canada. By contrast, revenue
grew in the United Kingdom due to increased activity on the Private Finance Initiative (PFI) contracts won in 2012 and 2013, and in the United
States.
VINCI Construction: €16,775 million (+9.4% actual; +9.8% on a comparable structure basis)
In France, revenue amounted to €9,122 million, up 8.5% on an actual basis (up 8.1% on a constant structure basis). This sharp growth was
driven by the build-up of work on the Tours–Bordeaux high-speed rail line project and brisk activity in the building sector. Business levels
in French overseas territories remained sound.
Outside France, revenue totalled €7,653 million, up 10.6% on an actual basis (up 11.9% on a comparable structure basis). Sogea Satom (African
subsidiaries), VINCI Construction Grands Projets, Soletanche Freyssinet and Entrepose Contracting all put in solid performances. Activity in
the UK and Benelux also grew. However, Central European subsidiaries saw lower business levels.
VINCI IMMOBILIER: revenue rose 0.6% to €816 million in 2013, with growth in business and commercial property (offices, retail outlets
and hotels) offsetting a slight decline in residential property.
Revenue by geographical area
2013/2012 change
(in € millions) 2013 % of total 2012 Actual At constant exchange rates
France 25,111 62.3% 24,324 +3.2% +3.2%
Central and Eastern Europe 1,779 4.4% 2,001 -11.1% -10.0%
United Kingdom 2,578 6.4% 2,257 +14.2% +19.6%
Germany 2,583 6.4% 2,374 +8.8% +8.8%
Belgium 1,215 3.0% 1,210 +0.4% +0.4%
Rest of Europe 1,729 4.3% 1,505 +14.9% +15.7%
Europe excluding France 9,884 24.5% 9,348 +5.7% +7.3%
Americas 1,820 4.5% 1,832 -0.6% +4.4%
Africa 1,816 4.5% 1,695 +7.1% +8.2%
Middle East and rest of the world 1,706 4.2% 1,435 +18.9% +26.8%
International excluding Europe 5,342 13.2% 4,962 +7.7% +12.1%
Revenue (*) 40,338 100.0% 38,634 +4.4% +5.3%
(*) Excluding concession subsidiaries’ works revenue.