VINCI - 2008 annual report

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82 BUSINESS REPORT CONSTRUCTION Overseas France Business activity at VINCI Construction Filiales Internationales in Overseas France reached a record €550 million (up 14.5%) as a result in particular of the major projects under way in French Guiana (Soyuz launch site), Reunion Island (Route des Tamarins) and New Caledonia (Goro-Nickel project). These projects call for the complementary expertise of VINCI Construction Filiales Internationales, VINCI Construction Grands Projets and VINCI Construction France. Public-private partnerships (PPPs) also constitute a growth driver, illustrated by the contract signed in early 2009 to build the Port Réunion grain terminal. United Kingdom The acquisition of the Taylor Woodrow Construction company, a benchmark player in the British construction market, was a highlight of the year. This operation resulted in the creation of VINCI Construction UK, a new entity ranked among the market leaders. It enables VINCI Construction UK to expand in the facilities management, rail and airport infrastructure and public building (health care, education) sectors while reinforcing its portfolio of PPP contracts. VINCI Construction UK has low exposure to the residential property market, and was thus able to hold up well in a poor economic environment. Taylor Woodrow Construction’s substantial track record in nuclear civil engineering will also stand the company in good stead as the British nuclear programme is re-started. It also against this backdrop that VINCI Construction UK and VINCI Construction Grands Projets signed an exclusive partnership agreement with Balfour Beatty, a British civil engineering major, to build EPR type nuclear power stations in the United Kingdom. Belgium Revenue at CFE (in which VINCI Construction holds a 46.8% interest) rose 14% to €1.7 billion. Activity increased across all CFE divisions as well as in dredging, carried out by its subsidiary DEME (see page 84). In construction, anticipating the slump in the building market, CFE put together a large order book in civil engineering. The projects that will be driving this sector in coming months and years include: the construction of the Diabolo tunnel in Zaventem (Brussels airport), the design and construction of the Delft rail tunnel, the construction of the Liefk enshoek rail link in the port of Antwerp and the construction of the Coentunnel in Amsterdam – these last two PPP contracts having been signed in a consortium with VINCI Concessions in 2008. Meanwhile CFE continued to reinforce its multi-technical division, where activity grew 69% thanks to several recent acquisitions – including, in 2008, Stevens NV (railway signalling, airport wiring and runway lighting, communications networks) and a stake in Druart (climate engineering). Germany With revenue up 11%, SKE confi rmed its performance in the facilities management market and continued to diversify its longstanding base. The United States Armed Forces in Germany, its longstanding customer, now represents only about half of its business activity, with construction, renovation and/or comprehensive maintenance of public buildings accounting for the other half. Three new PPP contracts with a total value of €159 million, covering the construction and 25-year maintenance of schools, were signed in 2008. Overall, SKE manages nine contracts with an average duration of 22 years and an overall value of over €600 million. VINCI __ 2008 ANNUAL REPORT After modernising the wastwater treatment plant in Lodz, Warbud, the Polish subsidiary of VINCI Construction Filiales Internationales, won the design-build contract in early 2008 to modernise and extend the Czajka wastewater treatment plant in Warsaw, which will be the country’s largest once it is commissioned. Central Europe At VINCI Construction Filiales Internationales in Central Europe, revenue came in at €770 million. Business remained brisk in Poland, where Warbud, a subsidiary traditionally focused on building, continued to expand into civil engineering and environmental business lines, notably winning a major contract to build a wastewater treatment plant in Warsaw. This diversifi cation of activity boosts Warbud’s resilience in a market that is stabilising. In the Czech Republic, activity grew substantially (up 40%) in the civil engineering market, where SMP is a benchmark player; in building, the merger of the two subsidiaries Prumstav and FCC enhances our competitiveness in a declining market. Africa Sogea-Satom’s revenue again increased substantially (up 17%) to €632 million. With locations in some 20 countries, primarily in Frenchspeaking Africa, Sogea-Satom is building on its historic roots and the quality of its expertise and methods to maintain its edge in a more and more competitive environment. Activity remained buoyant in earthworks and roadworks, the company’s two main business lines, with several major projects in Cameroon, Guinea, Chad, Burundi, Benin and Congo. Sogea-Satom continued, in parallel, to develop its hydraulic engineering and civil engineering activities, winning a new water supply system contract in Tanzania (pipelines and treatment plants) and several cement works construction contracts in Morocco. The company’s excellent order book at the end of 2008 heralds an ongoing high level of activity in 2009 in all the areas in which Sogea-Satom operates.
290 METRE SPAN ACROSS THE ABYSS The Grande Ravine viaduct, one of four exceptional engineering structures along the Route des Tamarins on Reunion Island, owes its unusual design to environmental necessity. The structure was required to have no piers or cable stays so as not to endanger the Audubon’s Shearwater, a bird species threatened with extinction that nests close to the site. Reduced to a thin blade of steel, the deck that overarches the 170-metre ravine is supported by highly complex civil engineering structures, of which only the incrementally launched braces are visible. 83
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2008 ANNUAL REPORT
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KEY FIGURES Revenue by business lin
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PROFILE VINCI, the world’s leadin
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Roads Ranked among the world’s le
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MESSAGE FROM THE CHAIRMAN YVES-THIB
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Our strategy is to maintain a balan
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MANAGEMENT AND CO-ORDINATION COMMIT
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12 GROUP VINCI __ 2008 ANNUAL REPOR
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22 22 GROUP CONCESSIONS VINCI __ 20
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24 04.02.2008 GROUND CONSOLIDATION
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28 02.04.2008 INVENTING TOMORROW’
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Page 45 and 46: CONCESSIONS PROFILE VINCI Concessio
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Page 83 and 84: CONSTRUCTION PROFILE French market
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Agence Dominique Perrault Architect
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VINCI - 2008 annual report

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