Vinci claims ‘solid’ performance
By Sandy Guthrie07 March 2011
A return to growth during the second half of 2010 has been reported by Vinci for its contracting business, with construction showing a rise in EBIT (earnings before interest and taxes) of +10% for 2010 over the previous year.
The French-based group, which claims to be the world's leading concession and construction group, claimed that overall it had achieved a "solid performance in 2010, marked by significant growth in revenue and profit".
The group's consolidated revenue amounted to € 33,4 billion for the year ending 31 December, 2010, which was up +8,6% on 2009. It said the increase was attributable to the impact of external growth operations carried out in 2010, the good momentum of motorway concessions, and the resilience of the contracting business.
It added that 43% of its contracting business was generated outside France.
Its contracting businesses includes three companies - Vinci Construction, energy and information systems company Vinci Energies, and transport and urban infrastructure firm Eurovia. Vinci said its order book for contracting stood at € 25,9 billion at the year end - up almost +15%.
The Vinci group as a whole is predicted to grow at least +5% in 2011. Vinci said its contracting business, in addition to its "sound order book", should benefit in 2011 from the full-year operation of the acquisitions made in 2010 - Cegelec (electrical engineering) and Faceo (facility management) - plus the start-up of works on recently-won major concessions projects, and an improvement in the construction and energy markets, particularly in France.