VINCI Construction - Annual report 2008

un groupe responsable
Message from
the Chairman
VINCI Construction pursued and amplified its growth momentum in 2007,
with Group revenues increasing 28.6% over the year to €13,653 million. this
primarily organic growth (18%) was equally vigorous in France and abroad,
reflecting the vitality of our companies, most of which outperformed their
markets. We also actively pursued external growth, with three major acquisitions
in particular broadening our expertise in three highly technical
business lines, namely special foundations and ground technologies with
Solétanche Bachy; oil services infrastructures with ENtrEPoSE Contracting;
and nuclear engineering with Nukem.
though spectacular, our growth is virtuous nonetheless: our operating profit
as a percentage of revenues continued to grow, rising to 4.9% of revenue or
nearly €670 million. VINCI Construction is improving its performance by the
year, demonstrating the robustness of its business, managerial and cultural
model. Combining our companies’ responsiveness on their respective markets
with the creativity of our work force and the strength that comes from
our shared values, this model is driving our future growth.
Initial signs for 2008 confirm that we are on track. Contrasting with the prevailing
macroeconomic uncertainties, our order book at the end of 2007
gives us outstanding visibility, with almost a year of work in hand. reaping
the full benefits of our acquisitions made in 2007, VINCI Construction will
be focusing in 2008 on consolidating its growth and securing reliable, predictable
performance. We will be working relentlessly to improve our fundamentals,
preferring high quality results in all their dimensions—since our
overall performance depends on the quality of our methods, our production
facilities, our way of doing things, and of doing them well—to quantity. We
will do this by pursuing and refining our human development policies, for
the first and most exciting challenge facing all our companies is to recruit
the men and women who embody their future, to help them develop and to
give them a stake in the success of those companies.
the trends underpinning this policy remain very robust. the growing
demand for infrastructures, public facilities and housing, both new and renovated;
the development of public-private partnerships;
and tougher environmental demands... all these longterm
factors give added relevance to VINCI’s integra-
ted concession-construction model and the activities
of VINCI Construction.
4
Richard Francioli
Chairman of
VINCI Construction
Richard Francioli
John
Stanion
Bruno Dupety
Raoul Dessaigne