VINCI - 2005 annual report
VINCI - 2005 annual report
VINCI - 2005 annual report
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CONSTRUCTION / ACTIVITY<br />
Outperforming<br />
the market in all sectors<br />
With revenue up 13.5% to over €9 billion, <strong>VINCI</strong> Construction achieved excellent<br />
performance in virtually all the sectors in which it operates. Margins kept<br />
pace with increasing volumes. The ongoing policy of selective order-taking<br />
and production method optimisation resulted in strong growth in operating<br />
profi t from ordinary activities (+43%) and a further improvement in oper ating<br />
margin, which reached a record 4.9% of revenue.<br />
Revenue<br />
+13.5 %<br />
Operating profi t<br />
from ordinary activities<br />
+43 %<br />
86<br />
<strong>VINCI</strong> <strong>2005</strong> ANNUAL REPORT<br />
France<br />
Business activity at GTM Construction increased by 8.3% in<br />
<strong>2005</strong> and at Sogea Construction by 17%, at a pace that far<br />
outstripped the market (3.3% (1) ). Building on its strong local roots and its<br />
leadership, <strong>VINCI</strong> Construction posted particularly strong growth in the regions<br />
where the economy and the population are growing fastest, especially south–<br />
eastern France and the Paris region. Revenue growth was an even more impressive<br />
+14% when the business activity of <strong>VINCI</strong> Construction, Freyssinet and DEME<br />
in France are taken into account; when the overseas subsidiaries are also included,<br />
revenue grew by 15%.<br />
<strong>VINCI</strong> Construction generates 43% of its<br />
International revenue outside France. Activity increased<br />
across virtually all the Group’s local markets in Europe, Africa and the former<br />
French overseas territories, as well as in the world major project, specialised<br />
civil engineering and dredging markets.<br />
IN THE UNITED KINGDOM, business activity at <strong>VINCI</strong> PLC rose 25%<br />
(to €938 million euros), notably as a result of contracts awarded by the Jarvis<br />
company in the education sector (with a value of €140 million).<br />
IN GERMANY, business activity at SKE was concentrated in public-private<br />
partnerships and the buoyant facilities management market, where the<br />
com pany continued to expand by renewing its multi-year contracts with the<br />
United States Armed Forces, the longstanding customer for which it maintains<br />
bases in Germany. In addition, <strong>VINCI</strong> Bautec, specialised in architectural fi tting<br />
and fi nishing, maintained its business activity under diffi cult market conditions.<br />
1. – Source: DAEI, French Ministry for Transport, Infrastructure, Tourism and the Sea.
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