Construction drives Vinci's growth
By Chris Sleight07 March 2008
Vinci’s revenues rose +16,8% last year, compared to 2006 to a total of € 30,4 billion. The company says revenues grew more steeply outside France last year, with a +21,4% rise to € 10,7 billion. This was largely due to a string of acquisitions, including the purchase of Soletanche Bachy, Entrepose Contracting and Nukem by its Construction division.
As a result, Vinci Construction saw the sharpest growth of all the group’s companies, with revenues rising +28,3% to € 13,6 billion. In France this was due to strong organic growth, with revenues up +22%, whereas half the +37% increase seen in overseas markets was due to the positive impact of acquisitions.
At Eurovia, Vinci’s road building arm, revenues were up +6,5% for the year to € 7,71 billion. Although sales in France rose +12,6%, revenues from abroad fell –1,5%. “This change reflects the Group’s determination to improve its operational profitability in several countries, which led to greater selectivity in order taking,” said a statement from Vinci.
Vinci was also bullish about the year ahead, with a € 21,5 billion order book for its Construction, Eurovia and Vinci Energies businesses. This represents 10 months of work for the three businesses, and is a +20% increase on the forward order position at the end of 2006.
Vinci’s full results will be published after the close of trading on 27 February.