A N N U A L R E P O R T - Bouygues

Gautrain link project, South Africa
Bouygues Bâtiment International
has concluded the €165m Waterfront
International Development contract
in Trinidad and Tobago. The project
includes a 150,000 m 2 development
comprising a 5-star Hyatt hotel with
428 rooms on 22 floors, a conference
centre, two 26-storey office buildings
and a car park.
A contract to build a ninth hotel in
Cuba was concluded for €39 million.
kets, which generated €118 million,
ETDE operates alone or in tandem with
other Bouygues Construction entities,
as on the €30m Waterfront contract in
Trinidad and Tobago.
ETDE contributed €987 million to
Bouygues Construction’s consolidated
sales in 2005, an increase of 39%
on 2004, mostly due to a strategy of
external growth in place since 2001.
ETDE acquired ten companies in 2005
and recorded organic growth of 14%.
tion systems segment.
ETDE has continued to expand in the
broadband business, completing the
third phase of the ROSE optical security
network contract for RTE. The
acquisition of Axione has reinforced
its broadband network engineering
skills.
ETDE’s electrical and HVAC engineering
division has continued to expand,
acquiring Métral in south-eastern
France and reinforcing its HVAC capacity
by acquiring Stéfal’s HVAC engineering
activities.
International
ETDE is also establishing itself
through external growth elsewhere
in Europe. In June 2005, it acquired
David Webster, the UK’s third largest
street lighting contractor with 260
employees and annual sales of €40
million. ETDE already had a foothold in
the UK through its facilities management
subsidiary Ecovert FM. ETDE and
David Webster won a PFI street lighting
contract with the London borough
of Lambeth worth €54 million over
25 years. The acquisition of ICEL will
strengthen ETDE’s presence with large
industrial firms in the south-east of
England.
In Africa, ETDE is establishing a local
presence through a network of twelve
fast-growing subsidiaries (sales in
Olkiluoto nuclear power station in Finland
2005 were 23% up on the previous
year). Other contracts in France’s
overseas dependencies and elsewhere
are more the result of taking
advantage of opportunities as they
arise, targeting large-scale projects
in particular.
Outlook for 2006
Bouygues Construction is maintaining its
growth strategy, focusing on four priorities:
electrical contracting and maintenance,
public-private partnerships, property
development, and transport infrastructure
concessions.
Electrical Contracting
and Maintenance
ETDE has three lines of business with a
substantial services component: utility
networks (€476 million, 47% of
sales), electrical and HVAC engineering
(€276 million, 27% of sales) and
facilities management (€144 million,
14% of sales). On international mar-
France
ETDE consolidated its position in the
electrical contracting and maintenance
sector with the acquisition of
Lignest and Snef and now also has
railway signalling expertise following
the acquisition of Sosiel. The acquisition
of ETS (Entreprise de Téléphonie
et de Signalisation) makes ETDE a
significant player in the communica-
The company has solid positions on buoyant
markets with good prospects for growth.
Order books at end-2005 amounted to €5.2
billion and 63% of the 2006 sales target
has already been covered.
With the finalisation of major contracts
like the A41, Cyprus airports and Gautrain
projects, Bouygues Construction can look
forward to a further high level of activity
in 2006.
BUSINESS ACTIVITIES
19