Vinci top again

01 May 2008

Vinci has topped the ce-100 listing in three of the four years since 2001, following its formation from the merger of SGE and GTM in 2000. The other three contractors in the top four-Bouygues, Hochtief and Skanska-have also been fairly consistent, although, as with this year's positional swap between Bouygues and Skanska, there have been some minor changes over the years.

However, fifth place has changed hands more regularly. Eiffage, Holzmann and, most recently, Bam have all held this position, but the 2005 edition of the CE-100 shows ACS in fifth position, with a clear gap down to sixth-placed Eiffage. This impressive jump of 10 places is a result of its acquisition of fellow Spaniard Dragados, which was ranked 10th in last year's CE-100. It creates Europe's fifth contractor with annual sales in excess of € 10 billion.

Somague SGPS (69th last year) has disappeared from the table due to its acquisition by18th-placed Sacyr Vallehermoso. Mansell, which ranked 83rd last year, has also gone, due to its purchase by 13th-placed Balfour Beatty. The new additions at the foot of the CE-100 are largely as a result of the vacuum created by these three mergers.

The other big move due to a merger is Isolux Corsan Corviam (ICC), which was placed 92nd last year as Corsan Corviam. The addition of Isolux, an engineering project management group has elevated the merged company to 47th position, a 45-place climb.

The highest new addition to the CE-100 is 12th placed Fimag, which is the holding company that owns Bau Holding Strabag (14th Placed in 2003), itself a holding company with a 65,85% interest in Germanys’ Strabag (22nd this year). The FIMAG group also includes A-Way, a highway concession company.

Aside from this development, the major mover over the last year has been Turkey's largest contractor Enka Ins, aat, which moved 25 places up the table to 50th position. This climb is due to spectacular organic growth, which saw the sales increase +80% last year.

Next Year

This year looks like the last in the CE-100 for Walter Bau, which was placed 29th this year. The same may be true of Jarvis (39th), as it wrestles with its on-going debt problems. Aside from these, mergers and acquisitions will undoubtedly play a part

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