2013-vinci-annual-report

88 CONTRACTING / EUROVIA
Against a difficult economic backdrop,
Eurovia’s revenue declined only 1.5%
to €8.6 billion. Business activity held
steady in France and grew in the
United Kingdom, offsetting a
reduction in Germany and Central
Europe. Outside Europe, overall
business volume remained stable.
01
01 Eurovia Midi-Pyrénées and ETF
took part in the construction of the
Toulouse light rail system’s Garonne
line, which opened in December 2013.
02 Eurovia’s network of R&D centres
and laboratories develops products
and processes that optimise surfacing
performance and reduce materials and
energy consumption.
03 During the summer, Eurovia teams
resurfaced 17 km of lanes on the A14
motorway between La Défense and
Orgeval in just 13 days.
Eurovia’s 2013 performance must be measured
against the yardstick of the difficult
economic environment prevailing in the
roadworks industry, which depends on
orders placed by public authorities. With
reductions in public spending exacerbating
competition and putting pressure on prices,
Eurovia’s Ebit margin fell to 2.7% in 2013
from 3.2% in 2012, demonstrating its ability
to adapt. The business line’s year-end figures
include the cost of restructuring in the more
difficult Central European markets
(Germany, the Czech Republic, Slovakia and
Poland), undertaken in application of its
highly responsive cost reduction strategy
aimed at maintaining margins and the
ability to rebound once business activity
shows signs of picking up.
The Eurovia model also owes its resilience
to the breadth of its expertise and services,
which cover the full array of transport infrastructure
and urban development projects.
Eurovia’s recent diversification into railway
works reflects its ability to operate in
buoyant markets such as light rail and highspeed
rail lines by combining the expertise
of its specialised ETF division and its works
divisions, often in synergy with other VINCI
business lines.
Lastly, Eurovia derives a portion of its
competitive advantage from its innovation
policy. Eurovia’s network of research and
development centres devises products and
processes that optimise the performance of
surfacings and reduce the volume of materials
and energy used to manufacture and lay
them. For example, Eurovia developed a
surface course waterproofing process
(Biplast®) for the lift span of the Jacques
Chaban Delmas Bridge in Bordeaux.
The waterproofing has a weight-to-surface
area ratio that is only one-tenth that of a conventional
process. The environment is also
a key focus of the materials production activity.
Building on the strategic fit between its
quarry and recycling centre networks,
Eurovia has developed eco-construction
solutions such as the Granulat+ method that
optimise the use of resources from natural
deposits and from recycled inert worksite
spoil. In addition, Eurovia began working in
partnership with the French Natural History
Museum in 2012 to carry out a biodiversity
project in its quarries. Under this arrangement,
the museum’s scientific methods,
in-depth knowledge of species and the evolution
of natural environments, and various
systems are used to build action plans.
02
France
In 2013, Eurovia again held its own in its main
market. Following a first half adversely
affected by poor weather conditions, activity
was brisk over the summer and thereafter
continued at a good level. Eurovia’s strong
local roots and responsive management
method enabled it to post a slight increase (1%)
in business volume, which was €5.2 billion,
and to improve margins despite a difficult
economic environment. The downward
trend in spending by local authorities was
less pronounced in 2013, and the run-up to
the municipal elections in 2014 prompted
public authorities to hasten the completion
of a large number of projects.
In the motorway sector, Eurovia completed
the final green motorway package
projects for VINCI Autoroutes in the spring