VINCI - 2005 annual report

Revenue
+29 %
in the Czech Republic
IN SPAIN, the acquisition of the Madrid-based Trabit company enabled
Probisa to record an increase in its business activity on a contracting market
(- 3.9% at equivalent scope of consolidation, to €155 million). The full
integration of the company, which specialises in urban utility network
maintenance under multi-year contracts, as well as the introduction of a more
selective order-taking policy and a tightened management structure, resulted
in improved profi tability in 2005, which is expected to continue in 2006.
The main projects of the year include the 90,000 sq. metre runway refurbishment
at the Altet-Alicante airport.
Central Europe
EUROVIA / BUSINESS REPORT
Eurovia began operating in Central
Europe in the 1990s and has
followed a consistent strategy of acquiring signifi cant positions in concentrated
territories, taking advantage of its two sales levers: roadworks and materials
production. The strategy has worked, as the 2005 performance of Eurovia’s
regional subsidiaries demonstrates. Their strong local roots, combined with the
management system applied throughout VINCI, enables them to make the most
of a business cycle stimulated by the initiation of major infrastructure projects
cofi nanced by the European Union.
IN THE CZECH REPUBLIC, SSZ recorded a strong increase (+20% at
constant scope and exchange rate) in revenue and a further increase in earnings.
Eurovia’s revenue in the Czech Republic (€634 million) is now comparable
to revenue in Germany and the United Kingdom. Eurovia’s acquisition
of a controlling interest in the major Jakubcovice quarry (see below) helps
to secure SSZ’s supplies against a backdrop of buoyant infrastructure projects
in the Czech Republic and the neighbouring countries. In the same context,
SSZ has acquired one of the world’s largest-ever batch coating plants (with
a capacity of 340 tonnes per hour). Major projects initiated and/or continued
by SSZ in 2005 include the two 12 km sections of the D8 motorway, one
of them carried out in a consortium with VINCI Construction’s Czech subsidiary
SMP; a 20 km section of the D11 motorway linking Prague and Poland;
and the bypass at Otrokovice in Moravia. SSZ’s business activity and expertise also
include railway works, such as the modernisation of the Chocen railway station
on the main Czech national railway corridor.
Eurovia’s subsidiaries in other Central European countries – Poland, Slovakia,
Lithuania and Albania – recorded even stronger activity growth (+50%,
to €90 million). In Slovakia, Eurovia Cesty is working with SSZ to carry out
earthworks and pavement construction on the D1 motorway, the Pan-European
artery that runs through the country from East to West.
NEW QUARRY IN CENTRAL EUROPE
NEW QUARRY IN CENTRAL EUROPE
In 2005, SSZ, Eurovia’s Czech subsidiary, acquired a majority holding in the Jakubcovice quarry near Ostrava in Moravia.
Producing 1.8 million tonnes of materials a year, the site will supply major infrastructure construction sites in the Czech Republic and in the neighbouring
countries. Following the acquisition of six quarries in Slovakia in 2004, this latest addition to Eurovia’s assets supports the company’s expansion in Central
Europe and consolidates its strategy of developing its network of industrial facilities on all its markets so as to secure supplies of materials for its worksites.
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