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| Vinci 's 1Q 2011 revenue increased 25.4 percent Vinci, the world's largest construction and concessions group, said its consolidated revenue amounted to €7.7 billion in the first quarter of 2011, an increase of 25.4% compared to that of the first quarter of 2010. In addition to a favourable exchange rate effect (+0.9%), the acquisitions made during 2010, mainly Cegelec and Faceo within the Energy business line and Tarmac at Eurovia, had a positive impact. These three companies contributed revenue of €0.8 billion in the first quarter. On a comparable structure basis, revenue rose by 9.5%, reflecting strong growth in the contracting businesses (+11.2%) and a solid performance in concessions (+5.6%). The mild weather recorded in the first quarter of 2011 stood in contrast to the particularly severe weather conditions during the winter of 2010, which had a strong negative impact on the contracting businesses in Europe and North America. In view of the importance of these seasonal factors, business trends at the start of the year cannot be extrapolated to the year as whole. In addition, the impact of 2010 acquisitions on the revenue of the nine remaining months of 2011 should be less material, as Cegelec was consolidated from the second half of April 2010, Faceo from August 2010 and Tarmac from October 2010. In France, revenue amounted to nearly €5 billion, an increase of 23.4% compared to the first quarter of 2010 (+10% on comparable structure basis). Outside France, revenue increased by 29.2% to €2.7 billion (+8.4% at constant scope and exchange rates). The share of revenue from outside France was close to 36% (41% in contracting). On top of buoyant business activity, the intake of new orders boosted the order book by nearly 3% during the first quarter. The order book now represents about 11 months of average business activity - an amount of €26.6 billion – and does not include the works that should come from recent infrastructure concession contracts awarded to the Group: the Sud Europe Atlantique high-speed rail line, the future Nantes airport and Nice Stadium, which together represent a volume of business of about €4.5 billion for the Group. write your comments about the article :: © 2011 Construction News :: home page |