Vinci (construction)

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Vinci S.A.
Type Société Anonyme
Traded as EuronextDG
Industry Construction
Founded 1899
Founder(s) Alexandre Giros, Louis Loucheur
Headquarters Rueil-Malmaison, France
Area served Worldwide
Key people Xavier Huillard (Chairman and CEO), Yves-Thibault de Silguy (Vice-Chairman)
Services Infrastructure and property construction, transport infrastructure concessions (motorways, tunnels, bridges, car parks), energy infrastructure and services
Revenue Increase €36.96 billion (2011)[1]
Operating income Increase €3.60 billion (2011)[1]
Profit Increase €1.90 billion (2011)[1]
Total assets Increase €60.57 billion (end 2011)[1]
Total equity Increase €13.61 billion (end 2011)[1]
Employees 183,320 (end 2011)[1]
Divisions Eurovia, Vinci Park, Vinci Energies, Vinci Construction, Autoroutes du Sud de la France
Website www.vinci.com

VINCI is a French concessions and construction company founded in 1899 as Société Générale d'Enterprises. It employs over 179,000 people and is the largest construction company in the world by revenue.[2] Vinci is listed at Euronext's Paris stock exchange and is a member of the CAC 40 index. Its head office is in Rueil-Malmaison.[3]

History[edit]

The company was founded by Alexandre Giros and Louis Loucheur as Société Générale d’Entreprises S.A. (SGE) in 1899.[4]

In 1986 SGE acquired Sogea, a business founded in 1878.[4]

In 1988 the company acquired Campenon Bernard, a business founded in 1920.[4]

In 1991 SGE acquired Norwest Holst, a company founded in 1969.[4]

In 2000 it changed its name to Vinci.[4]

In 2001 it acquired Groupe GTM itself a combination of Dumez, founded in 1880, and GTM founded in 1891.[4]

In 2006 the company acquired Autoroutes du Sud de la France (the Southern Freeways Company).[5]

In February 2007 Vinci completed the acquisition of Soletanche-Bachy, the world second largest leading geotechnical specialist contractor after Bauer.[6]

In June 2007, Weaver PLC became a wholly owned subsidiary of Norwest Holst Limited: construction company based in Bromsgrove in the West Midlands, UK.

In September 2008 Vinci bought the UK operations of Taylor Woodrow Construction.[7]

In 2010, Vinci acquired Cegelec and the European aggregates businesses of Tarmac.[8]

In 2012, Vinci signed a deal to buy ANA - Aeroportos de Portugal for €308 million.

In December 2013, Vinci was awarded a contract worth €440 million to build an express-lane highway system in Atlanta, Georgia.[9]

Ownership[edit]

SGE was owned by Compagnie générale d'électricité (CGE), now Alcatel, from 1966 to 1984, then by Saint-Gobain from 1984 to 1988, and then by Compagnie générale des eaux, now Vivendi, from 1988 to 2000.[10]

Financial data[edit]

Financial Data in euro millions
Year 2000 2001 2002 2003 2004 2005 2006
Sales 17 331 17 172 17 554 18 100 19 520 21 543 25 634
EBITDA 1 122 1 557 1 664 1 778 2 021 2 150 3 946
Net Result share of the group 423 453 470 541 731 871 1 270
Net Debt 1 855 2 072 2 493 2 266 2 285 1 579 14 796
Staff 122 070 129 499 127 380 127 513 128 433 133 513 142 500

Source: OpesC[11]

Turnover analysis[edit]

The turnover is split as follows:[12]

  • design and construction of works (43.6%): primarily in the fields of building, civil engineering and hydraulics
  • design, construction, renovation and upkeep of roads (30%; Eurovia): roads, highways, and rail roads. The group is also active in urban design and granulate production
  • design, execution, and maintenance of energy and telecom infrastructures (16.3%)
  • sub-contracted infrastructure management (9.6%): primarily managing roads and highways (mainly through Cofiroute), parking areas, airport activities (No. 3 worldwide for ground services)
  • other (0,5%): particularly real estate activities

The company operates under the VINCI Park brand a number of underground parking garages which it built in Paris (e.g. under the Champs-Élysées) and elsewhere.

Major projects[edit]

Vinci and its predecessor companies has been involved in many major projects including the Gariep Dam completed in 1971,[13] the Tour Montparnasse completed in 1972,[14] the Centre Georges Pompidou completed in 1977,[15] the Yamoussoukro Basilica completed in 1989,[16] the new visitor entrance to the Louvre completed in 1989,[17] the Channel Tunnel completed in 1994,[18] the Pont de Normandie completed in 1995,[19] the Stade de France completed in 1998,[20] the Rio–Antirrio bridge, completed in 2004.[21] and the Third Bridge over Panama Canal under construction.

Criticism[edit]

Vinci is involved in construction of the first 43 km of the Moscow-St.Petersburg toll road through the valuable Khimki Forest. This construction has raised many protests in Russia, 75% of the local community – about 208,000 citizens of Khimki – oppose the project.[22] There have also been numerous human rights abuses surrounding the project, with journalists and activists arrested, assaulted, and even killed.[23][24]

Furthermore, Vinci has caused protests surrounding its project to build an airport in Notre-Dame-des-Landes near Nantes that is supposed to become the third biggest airport of France on 2000 hectares of bocage and humid areas with an acknowledged social and ecological value. This project which is considered to be a 'useless imposed mega-project' is financed through a public-private partnership with profits going to Vinci. As of November 2012, protests are ongoing to prevent the expulsion of mostly villagers and farmers who struggle to protect their environment and are supported both on a national and international level.

Investors[edit]

The investors comprise:[12]

References[edit]

  1. ^ a b c d e f "2011 Annual Report" (PDF). Vinci. Archived from the original on 12 August 2012. Retrieved 12 August 2012. 
  2. ^ Larsen, Ross; Smith, Heather (4 March 2009). "Vinci Rises Most in Two Months on Net Gain, Outlook". Bloomberg. Retrieved 2009-04-19. 
  3. ^ "Contact." (Map) Vinci. Retrieved 7 July 2010.
  4. ^ a b c d e f "Vinci website: company history". Vinci.com. Retrieved 20 November 2011. 
  5. ^ "Autoroutes du Sud de La France history". Asf.fr. 16 January 2008. Retrieved 20 November 2011. 
  6. ^ "Contract Journal". Contract Journal. 19 May 2011. Retrieved 20 November 2011. 
  7. ^ "Vinci buys Taylor Woodrow". New Civil Engineer. 10 September 2008. Retrieved 1 April 2012. 
  8. ^ Vinci buys Tarmac's European businesses for £250m The Construction Index
  9. ^ Leila Abboud (18 December 2013). "Vinci wins U.S. highway project worth 440 million euro". Reuters. 
  10. ^ "Vinci website: SGE history". Vinci.com. Retrieved 20 November 2011. 
  11. ^ "Fiche d'entreprise". Opesc.org. Retrieved 2013-04-13. 
  12. ^ a b "Euronext". Euronext. Retrieved 2013-04-13. 
  13. ^ "Vinci website: Hendrik Verwoerd Dam". Vinci.com. Retrieved 20 November 2011. 
  14. ^ "Vinci website: Tour Montparnasse". Vinci.com. Retrieved 20 November 2011. 
  15. ^ "Vinci website: Centre Georges Pompidou". Vinci.com. Retrieved 20 November 2011. 
  16. ^ "Vinci website: Basilica of Our Lady of Peace of Yamoussoukro". Vinci.com. 25 March 1988. Retrieved 20 November 2011. 
  17. ^ "Vinci website: Louvre". Vinci.com. Retrieved 20 November 2011. 
  18. ^ "Channel Tunnel on Structurae database" (in (German)). En.structurae.de. Retrieved 20 November 2011. 
  19. ^ "Pont de Normandie on Structurae database" (in (German)). En.structurae.de. Retrieved 20 November 2011. 
  20. ^ "Vinci website: Stade de France". Vinci.com. Retrieved 20 November 2011. 
  21. ^ "Rio–Antirrio bridge". Road Traffic Technology. Retrieved 1 April 2012. 
  22. ^ "Проблема сохранения Химкинского леса". Levada.ru. 15 September 2010. Retrieved 20 November 2011. 
  23. ^ An engineering mom leads effort to save an old-growth Russian forest, By Fred Weir, Correspondent / 30 April 2012, Christian Science Monitor
  24. ^ Russia halts forest highway construction as opposition grows 26 August 2010, By Julia Ioffe, Los Angeles Times

External links[edit]