VINCI - 2008 annual report
VINCI - 2008 annual report
VINCI - 2008 annual report
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Revenue<br />
15,722<br />
13,653<br />
Revenue by business line<br />
25%<br />
2007<br />
6% 6%<br />
<strong>2008</strong><br />
22%<br />
(*) Before tax and cost of debt.<br />
(**) At 31 December <strong>2008</strong>.<br />
Operating profi t<br />
from ordinary<br />
activities<br />
41%<br />
668<br />
4.9%<br />
2007<br />
773<br />
4.9%<br />
<strong>2008</strong><br />
Net profi t<br />
attributable to<br />
equity holders<br />
of the parent<br />
1%<br />
Cash fl ow from<br />
operations (*)<br />
<strong>VINCI</strong> CONSTRUCTION’S COMPETITIVE POSITION IN ITS MAIN MARKETS<br />
France <strong>VINCI</strong> Construction is leader in France in a market estimated<br />
at nearly €200 billion, ahead of Bouygues Construction, Eiffage<br />
Construction, Fayat and Spie-Batignolles. The remainder of the<br />
market is split among a large number (estimated at 338,000) of small<br />
and medium-sized companies.<br />
United Kingdom With the acquisition of Taylor Woodrow Construction,<br />
<strong>VINCI</strong> PLC has become a significant player in the United<br />
Kingdom, especially in the infrastructure and facilities management<br />
markets. The main British groups are Balfour Beatty, Carillon, Amec<br />
and Laing O’Rourke. The British market is estimated at about<br />
€215 billion.<br />
Benelux CFE is one of the leaders in the Belgian market, estimated<br />
at €34 billion, alongside the BAM group, Besix and Jan De Nul.<br />
438<br />
3.2%<br />
2007<br />
527<br />
3.4%<br />
<strong>2008</strong><br />
Building<br />
Civil engineering<br />
Specialised civil engineering<br />
Hydraulic engineering<br />
Facilities management<br />
Revenue by geographical area<br />
7%<br />
5%<br />
8%<br />
895<br />
6.6%<br />
2007<br />
17%<br />
10%<br />
1,059<br />
6.7%<br />
<strong>2008</strong><br />
Net fi nancial<br />
surplus (**)<br />
52%<br />
1,478<br />
2007<br />
2,019<br />
<strong>2008</strong><br />
In € millions and<br />
as a percentage<br />
of revenue<br />
France<br />
United Kingdom<br />
Central Europe<br />
Belgium<br />
Rest of Europe<br />
North America<br />
Rest of the world<br />
Central and Eastern Europe <strong>VINCI</strong> Construction continues<br />
its development, especially in Poland and the Czech Republic,<br />
where it has been operating through local medium-sized companies<br />
for the past decade.<br />
Germany <strong>VINCI</strong> Construction’s activity is carried out by two<br />
specialised subsidiaries operating in niche markets (facilities<br />
management and PPPs; architectural fitting and finishing).<br />
Specialised markets Through its subsidiaries Soletanche Freyssinet,<br />
DEME and Entrepose Contracting, <strong>VINCI</strong> Construction operates in<br />
world niche markets with high technical content.<br />
Sources: Euroconstruct – Summary Report, November <strong>2008</strong> (market volume); Le Moniteur-Expert,<br />
company press releases (competitive position); French Directorate of Economic and International<br />
Aff airs (DAEI) – Major economic aggregates in construction, September <strong>2008</strong> (number of companies).<br />
81
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