VINCI

Vinci S.A.

Type	Société Anonyme
Traded as	Euronext: DG
Industry	Construction
Founded	1899
Founder	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	€36.96 billion (2011)[1]
Operating income	€3.60 billion (2011)[1]
Profit	€1.90 billion (2011)[1]
Total assets	€60.57 billion (end 2011)[1]
Total equity	€13.61 billion (end 2011)[1]
Number of 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

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] Started building Yanggakdo International Hotel in Pyongyang, DPR of Korea.

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 formerly William Weaver Limited established in 1865 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 September 2010, Vinci obtained Meteor Parking from the Go-Ahead Group.^[9]

In 2012, Vinci signed a deal to buy ANA Aeroportos de Portugal for €3080 million.

In December 2013, Vinci was awarded a contract worth €440 million to build an express-lane highway system in Atlanta, Georgia.^[10]

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.^[11]

Financial data

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^[12]

Turnover analysis

The turnover is split as follows:^[13]

• 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

Parking

The company operates a number of car parks under the VINCI Park and Meteor Parking brands. Many of the underground multi-storey car parks it operates were built by VINCI (e.g. those throughout Paris including under the Champs-Élysées), whilst other VINCI Park locations are contracted to it by hospital trusts, PFI consortia, property companies and local authorities. VINCI bought Meteor Parking from the Go-Ahead Group in September 2010 and these locations were added to its portfolio. Vinci received poor publicity when it misjudged its parking tariff at Wrexham's Eagles Meadow shopping centre in 2014. The company proposed to raise its tariff twice in less than 12 months putting the market towns charges on a par with its central London sites i.e. £14 for over 4 hours. The move had an impact on Vinci usage as well as local business.

Major projects

Vinci and its predecessor companies has been involved in many major projects including the Gariep Dam completed in 1971,^[14] the Tour Montparnasse completed in 1972,^[15] the Centre Georges Pompidou completed in 1977,^[16] the Yamoussoukro Basilica completed in 1989,^[17] the new visitor entrance to the Louvre completed in 1989,^[18] the Channel Tunnel completed in 1994,^[19] the Pont de Normandie completed in 1995,^[20] the Stade de France completed in 1998,^[21] the Rio–Antirrio bridge, completed in 2004.^[22] and the Third Bridge over Panama Canal which is under construction.

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.^[23] There have also been numerous human rights abuses surrounding the project, with journalists and activists arrested, assaulted, and even killed.^[24][25]

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

The investors comprise:^[13]

• Institutional investors – 67.4%
• Individual shareholders – 12.0%
• Employees – 9.0%
• Qatari Diar – 5.7%
• Artémis – 3.8%
• Treasury shares – 2.1%

References

External links

• Official website

Euro Stoxx 50 companies of Europe Air Liquide Allianz Anheuser-Busch InBev ArcelorMittal ASML Holding AXA Banco Santander BASF Bayer BMW BBVA BNP Paribas Carrefour CRH Daimler Danone Deutsche Bank Deutsche Telekom E.ON Enel Eni Essilor GDF Suez Generali Iberdrola Inditex Intesa Sanpaolo L'Oréal LVMH Munich Re Nokia Orange Philips Repsol RWE Saint-Gobain Sanofi SAP Schneider Electric Siemens Société Générale Telefónica Total Unibail-Rodamco UniCredit Unilever VINCI Vivendi Volkswagen

CAC 40 companies of France (Last update 23 March 2015) Accor Air Liquide Airbus Group Alcatel-Lucent Alstom ArcelorMittal AXA BNP Paribas Bouygues Capgemini Carrefour Crédit Agricole Danone EDF Essilor GDF Suez Kering L'Oréal Lafarge Legrand LVMH Michelin Orange Pernod Ricard Peugeot Publicis Renault Safran Saint-Gobain Sanofi Schneider Electric Société Générale Solvay Technip Total Unibail-Rodamco Valeo Veolia Environnement VINCI Vivendi

Go-Ahead Group United Kingdom bus companies Anglian Bus Brighton & Hove Carousel Buses Go-Ahead London Blue Triangle Docklands Buses London Central London General Go North East Go South Coast Bluestar Marchwood Motorways Uni-link Damory Coaches Southern Vectis Wilts & Dorset More Salisbury Reds Tourist Group Hedingham Chambers Konectbus Metrobus Oxford Bus Company Plymouth Citybus Thames Travel United Kingdom railway companies (as Govia) Govia Thameslink Railway including Thameslink and Great Northern London Midland Southeastern Southern including Gatwick Express Defunct UK operations Aviance UK East Thames Buses Meteor Parking Solent Blue Line Thames Trains Thameslink (Govia)