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From Wikipedia, the free encyclopedia

Vinci S.A.
Société Anonyme
Traded asEuronextDG
CAC 40 Component
IndustryConstruction
Founded1899; 120 years ago (1899)
FounderAlexandre Giros, Louis Loucheur
Headquarters
1 cours Ferdinand de Lesseps 92500 Rueil-Malmaison
,
France
Area served
Worldwide
Key people
Xavier Huillard (Chairman and CEO), Yves-Thibault de Silguy (Vice-Chairman)
ServicesInfrastructure and property construction, transport infrastructure concessions (motorways, tunnels, airports, bridges, energy infrastructure and services
RevenueIncrease €43.519 billion (2018)[1]
Increase €4.997 billion (2018)[1]
Increase €2.983 billion (2018)[1]
Total assetsIncrease €75.357 billion (end 2018)[1]
Total equityIncrease €19.818 billion (end 2018)[1]
Number of employees
211,233(end 2018)[1]
DivisionsEurovia, Vinci Energies, Vinci Construction, Vinci Concessions (airports, stadiums, highways), Vinci Autoroutes (Autoroutes du Sud de la France, Cofiroute, Escota, Arcour)
Websitewww.vinci.com

Vinci, corporately styled VINCI, is a French concessions and construction company founded in 1899 as Société Générale d'Enterprises. It employs over 194,000 people, operates in more than 100 countries and is the largest construction company in the world by revenue.[2] Vinci is listed on Euronext's Paris stock exchange and is a member of the Euro Stoxx 50 index. Its head office is in Rueil-Malmaison, in the western suburbs of Paris.[3]

History

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, founded in 1878.[4] In 1988 the company acquired Campenon Bernard, a civil engineering and development firm founded in 1920.[4] In 1991 SGE acquired Norwest Holst, a British civil engineering firm founded in 1969.[4]

In 2000 the company changed its name to Vinci.[4] In 2001, it acquired Groupe GTM, which was 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 September 2008 Vinci bought the UK operations of Taylor Woodrow Construction.[7]

In 2010, Vinci acquired Cegelec,[8] and the European aggregates businesses of Tarmac.[9] In September 2010, Vinci obtained Meteor Parking from the Go-Ahead Group.[10]

In 2012, Vinci signed a deal to buy ANA Aeroportos de Portugal for €3,080 million.[11] In December 2013, Vinci was awarded a contract worth €440 million to build an express-lane highway system in Atlanta, Georgia.[12] In 2014, Vinci sold 75% of the shares of Vinci Park to a consortium Ardian Infrastructure and Crédit Agricole Assurances. Vinci Park then became Indigo. In June 2016 Vinci sold the remaining 25.4% ex-Vinci Park shares to the consortium Ardian Infrastructure and Crédit Agricole Assurances.[13]

Vinci and Orix won a 45-year contract in 2015 to operate Itami Airport and Kansai International Airport in Osaka Prefecture, Japan, at a price of around $18 billion.[14]

In March 2017, the company invested in Brazil to operate the airport use of Salvador, Bahia for 30 years.[15]

In November 2017, the company invested in Sweden to acquire Eitech and Infratek, specialists in electrical works and engineering.[16]

In December 2018, the company announced that it would acquire a 50.01% stake in Gatwick Airport by the end of June 2019 in a deal worth £2.9 billion ($3.7 billion, 3.2 billion euros).[17]

Ownership

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.[18]

The breakdown of shareholders at 31 December 2018 is as follows:[19]

  • Institutional investors outside France: 57.7%
  • Institutional investors inside France: 14.7%
  • Individual shareholders – 7.7%
  • Employees – 9.0%
  • Qatar Holding LLC – 3.7%
  • Treasury shares – 7.2%

Financial data

Financial Data in euro millions
Year 2010 2011 2012 2013 2014 2015 2016 2017 2018
Sales 33,571 36,956 38,634 40,338 38,703 38,518 38,073 40,248 43,519
EBIT 3,434 3,660 3,651 3,767 4,243 3,715 4,118 4,607 4,997
Net result 1,776 1,904 1,917 1,962 2,486 2,046 2,505 2,747 2,983
Net debt 13,060 17,164 16,210 17,552 17,134 15,001 13,938 14,001 15,554
Staff 179,527 183,320 192,701 190,704 185,293 185,452 183,487 194,428 211,233

Source: VINCI[20]

Competitors

Main competitors for VINCI
VINCI Autoroutes
  • Abertis
  • Atlantia
  • Eiffage
  • Brisa

VINCI Airports

  • AENA
  • ADP
  • Fraport
  • MAHB
VINCI Energies

in France:

  • Engie Energie Services
  • Spie
  • Eiffage Énergie
  • Bouygues Energies & Services

outside France:

  • Siemens
  • Spie
  • Bilfinger
  • ThyssenKrupp Industrial Solutions
  • Minimax
  • Burkhalter
  • Alpiq
EUROVIA

in France:

  • Colas
  • Eiffage Infrastructures
  • LafargeHolcim
  • Heidelberg Cement Group
  • Cemex

outside France:

  • Strabag
  • Amey
  • Kier
  • Balfour Beatty
  • Tarmac
  • Conway
  • Aggregate Industries
  • Hanson
  • Skanska
  • Metrostav
VINCI Construction

in France:

  • Bouygues Construction,
  • Eiffage Construction
  • Fayat
  • NGE
  • Spie Batignolles
  • Demathieu Bard
  • Léon Grosse

outside France:

  • Balfour Beatty
  • Kier
  • Laing O’Rourke
  • Interserve
  • Strabag
  • Skanska
  • Porr
  • Budimex
  • Metrostav
  • Trevi
  • Bauer
  • Keller

Source: VINCI Annual report 2016

Turnover analysis

The turnover is split as follows:[21]

  • design and construction of works (35.5%): primarily in the building, civil engineering and hydraulics
  • design, execution, and maintenance of energy and telecom infrastructures (26.5%; Vinci Energies);
  • construction, renovation and upkeep of transport infrastructures (19.7%; Eurovia): roads, highways, and rail roads. The group is also active in urban design and granulate production (No. 1 in France);
  • sub-contracted infrastructure management (16.3%; Vinci Concessions): primarily managing roads and highways (mainly through Autoroutes du Sud de la France and Cofiroute), airport activities;
  • other (2%)

Net sales break down geographically as follows: France (58.9%), Europe (25.4%), North America (3.9%), Africa (3.5%) and other (8.3%).

Major projects

Vinci and its predecessor companies has been involved in many major projects including the Gariep Dam completed in 1971,[22] the Tour Montparnasse completed in 1972,[23] the Centre Georges Pompidou completed in 1977,[24] the Yamoussoukro Basilica completed in 1989,[25] the new visitor entrance to the Louvre completed in 1989,[26] the Channel Tunnel completed in 1994,[27] the Pont de Normandie completed in 1995,[28] the Stade de France completed in 1998,[29] the Rio–Antirrio bridge, completed in 2004,[30] Whiston Hospital completed in 2013[31] and the Atlantic Bridge, Panama due to complete in 2018.[32]

Vinci is also involved in HS2 lots N1 and N2, working as part of joint venture, with main construction work to start in 2018/9.[33]

Criticism

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.[34] There have also been numerous human rights abuses surrounding the project, with journalists and activists arrested and assaulted.[35][36]

Vinci attracted protests in relation to its project to build an airport in Notre-Dame-des-Landes near Nantes, expected to become the third largest airport in France and being built on a site of 2,000 hectares of woodland and marsh with an acknowledged social and ecological value. This project was financed through a public-private partnership with profits going to Vinci. In November 2012, protests took place to prevent the expulsion of villagers and farmers who were struggling to protect their environment who were receiving support at both a national and international level.[37]

Vinci's Norwest Holst and Taylor Woodrow were revealed as subscribers to the UK's Consulting Association, exposed in 2009 for operating an illegal construction industry blacklist. Vinci was later one of eight businesses involved in the 2014 launch of the Construction Workers Compensation Scheme,[38] condemned as a "PR stunt" by the GMB union, and described by the Scottish Affairs Committee as "an act of bad faith".[39]

References

  1. ^ a b c d e f "2018 Annual financial statements" (PDF). Vinci. Retrieved 25 February 2019.
  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 Archived 27 March 2010 at the Wayback Machine." (Map Archived 26 July 2011 at the Wayback Machine) Vinci. Retrieved 7 July 2010.
  4. ^ a b c d e f "Vinci website: company history". Vinci.com. Archived from the original on 29 November 2011. Retrieved 20 November 2011.
  5. ^ "Autoroutes du Sud de La France history". Asf.fr. 16 January 2008. Archived from the original on 5 October 2011. Retrieved 20 November 2011.
  6. ^ "Contract Journal". Contract Journal. 19 May 2011. Archived from the original on 11 May 2008. Retrieved 20 November 2011.
  7. ^ "Vinci buys Taylor Woodrow". New Civil Engineer. 10 September 2008. Retrieved 1 April 2012.
  8. ^ "Vinci to acquire Cegelec from Qatar fund". Wall Street Journal. 1 September 2009. Retrieved 22 November 2017.
  9. ^ Vinci buys Tarmac's European businesses for £250m The Construction Index
  10. ^ Vinci Park doubles UK operation with Meteor acquisition Shopping Centre
  11. ^ "Vinci sees off rivals to buy ANA". FT. 27 December 2012. Retrieved 22 November 2017.
  12. ^ Leila Abboud (18 December 2013). "Vinci wins U.S. highway project worth 440 million euro". Reuters.
  13. ^ "Vinci achève son désengagement de l'ex-Vinci Park" [Vinci disposes of the former Vinci Park]. Capital. 13 June 2016.
  14. ^ Fujita, Junko (22 May 2015). "Orix only confirmed bidder for Kansai airport rights after more drop out". Reuters. Retrieved 14 September 2015.
  15. ^ "VINCI Airports wins the concession for Salvador's airport in Brazil".
  16. ^ "Vinci Acquires Sweden-Based Eitech for Undisclosed Amount". Fox Business. 8 November 2017. Retrieved 6 December 2017.
  17. ^ "London's Gatwick airport sold to French Vinci conglomerate". The Jakarta Post. Retrieved 27 December 2018.
  18. ^ "Vinci website: SGE history". Vinci.com. Retrieved 20 November 2011.
  19. ^ "Becoming a shareholder - Shareholders - Shareholders [VINCI]". Vinci.com. 2019-02-25. Retrieved 2018-05-16.
  20. ^ "Core businesses". VINCI.
  21. ^ "Euronext". Euronext. Retrieved 2013-04-13.
  22. ^ "Vinci website: Hendrik Verwoerd Dam". Vinci.com. Archived from the original on 7 February 2012. Retrieved 20 November 2011.
  23. ^ "Vinci website: Tour Montparnasse". Vinci.com. Archived from the original on 7 February 2012. Retrieved 20 November 2011.
  24. ^ "Vinci website: Centre Georges Pompidou". Vinci.com. Archived from the original on 7 February 2012. Retrieved 20 November 2011.
  25. ^ "Vinci website: Basilica of Our Lady of Peace of Yamoussoukro". Vinci.com. 25 March 1988. Archived from the original on 1 October 2011. Retrieved 20 November 2011.
  26. ^ "Vinci website: Louvre". Vinci.com. Archived from the original on 1 October 2011. Retrieved 20 November 2011.
  27. ^ "Channel Tunnel on Structurae database" (in German). En.structurae.de. Retrieved 20 November 2011.
  28. ^ "Pont de Normandie on Structurae database" (in German). En.structurae.de. Retrieved 20 November 2011.
  29. ^ "Vinci website: Stade de France". Vinci.com. Archived from the original on 1 October 2011. Retrieved 20 November 2011.
  30. ^ "Rio–Antirrio bridge". Road Traffic Technology. Retrieved 1 April 2012.
  31. ^ Whiston Hospital, St Helens and Knowsley Teaching Hospitals NHS Trust, retrieved 3 May 2018
  32. ^ "Three Qualified To Bid On Third Bridge Over Panama Canal Project". Panama-Guide. 30 March 2012. Retrieved 17 April 2012.
  33. ^ "HS2 contracts worth £6.6bn awarded by UK government". the Guardian. 17 July 2017. Retrieved 2017-10-13.
  34. ^ "Проблема сохранения Химкинского леса". Levada.ru. 15 September 2010. Archived from the original on 25 January 2012. Retrieved 20 November 2011.
  35. ^ An engineering mom leads effort to save an old-growth Russian forest, By Fred Weir, Correspondent / 30 April 2012, Christian Science Monitor
  36. ^ Russia halts forest highway construction as opposition grows 26 August 2010, By Julia Ioffe, Los Angeles Times
  37. ^ Name. "Vinci, Company Profile – Corporate Watch". Corporatewatch.org. Retrieved 2018-05-16.
  38. ^ "Construction blacklist compensation scheme opens". BBC News: Business. BBC. 4 July 2014. Retrieved 7 September 2015.
  39. ^ "Scottish Affairs - Seventh Report  Blacklisting in Employment: Final Report". www.parliament.uk. Scottish Affairs Committee. Retrieved 7 September 2015.

External links

This page was last edited on 25 February 2019, at 20:54
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