VINCI - 2005 annual report

French market leader and
a world major in construction
Workforce
50,000
Number of subsidiaries
650
Number of projects
in 2005
40,000
VINCI
CONSTRUCTION / PROFILE
Construction, the French market leader and a world major
in construction, is the biggest contributor to Group revenue.
It brings together an unparalleled array of capabilities in building, civil
engineering, hydraulic engineering and services. On the strength of its policy
of market, business segment and customer diversifi cation, together with
an unremitting strategy of selective order taking and added value growth, VINCI
Construction has recorded steadily increasing earnings in recent years,
bolstered by favourable economic conditions on the European
construction market which facilitated buoyant growth in business volumes.
VINCI Construction’s business is divided into three major complementary
components:
> mainland France, with two independent multi-product networks
(Sogea Construction and GTM Construction), each with a large number
of agencies fi rmly rooted in their local markets;
> local markets outside mainland France, covered by networks
of subsidiaries providing the full range of construction activities in their areas:
VINCI PLC in the United Kingdom; CFE (in which VINCI holds a 45% interest)
in the Benelux countries; VINCI Construction Filiales Internationales in
Germany, Central Europe, the former French overseas territories and Africa;
> activities that are worldwide in scope, such as major structures,
covered by VINCI Construction Grands Projets, specialised civil engineering
with high technical content, covered by Freyssinet, and dredging covered
by DEME (in which CFE holds a 50% interest).
As the Group’s cultural melting pot, VINCI Construction has a management
system that combines decentralisation, empowerment at local level, a profi t
culture and networking. This system, combined with selective order-taking
and project production optimisation, enabled VINCI Construction to achieve
a further substantial improvement in its operating profi t in 2005.
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