Record international revenues for European contractors
By Chris Sleight21 October 2013
European contractors achieved revenues of € 167.6 billion (US$ 229 billion) outside their domestic markets last year, according to a survey of 169 companies by European International Contractors (EIC), a trade association representing internationally active European construction companies. The figure was a +7.2% increase on the 2011 value of work - € 156.4 billion (US$ 214 billion).
The biggest market for these companies is other European countries, with € 75 billion (US$ 103 billion) of work carried out last year. However, this was only a +1.2% increase on the previous year. The rise in overall revenues for European contractors last year came from more robust increases in Asia and North America, helped by gains in other territories. In fact the only region where revenues fell in 2012 was the Middle East.
In percentage terms, the steepest growth was in North America, with the value of work done rising +26.8% to € 26 billion (US$ 35 billion). However, the markets of Asia & Oceania were more significant, and their +12.6% rise took the value of work done by European contractors in these regions to € 31 billion (US$ 42 billion).
The EIC also collects data on the value of new contracts awarded, although it says that this figure includes some estimates. Some € 179 billion (US$ 245 billion) of new business wassigned last year, a +6% increase on 2011.