survey 2010 the italian construction...
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SURVEY 2010 THE ITALIANCONSTRUCTIONCOMPANIES IN THE WORLD
edited by the Directorate for Economic Affairs and Studies and Overseas Works and International Relations Office
Italian construction companies’overseas activities keep growingdespite domestic market’sweakness
The 40 Italian construction companies whichare part of Ance’s Survey, have been increasingtheir overseas activities in order to balance thecontraction of the domestic market. Newinternational markets have been targeted withdynamism and determination. The 2009 international turnover of the 40companies has exceeded 7.2 billion euro, thusachieving an annual 20% growth (average) forthe past 5 years. The 40 companies havealmost tripled their international turnover bycomparison to 2003 (2,5 billion euro), which isnow the 54% of the global. These companies are running 576 constructionsites in 86 countries (+6 compared to lastyear), with a portfolio of 44 billion euro. In 2009 they have signed 170 new contractsfor a global value of 11 billion euro. In addition, the companies operateconcessions for 16.7 billion euro.The Italian construction companies’ corebusiness is the achievement of complexinfrastructures, such as railways, roads,bridges, subways, pipelines, hydroelectricplants and networks, hydraulic works, airports. The Italian construction sector, which isconfronted with the persistent recession of it’sdomestic market, shows a remarkablecompetitiveness on international markets.
Rank Company International Total New Contracts2009 2008 Revenue 2009 Revenue 2009 2009
Top Italian International Contractors(million euro)
1 1 Impregilo 1,763.0 2,706.0 4,032.5
2 2 Astaldi 1,028.2 1,869.5 1,561.2
3 3 Salini Costruttori (*) 884.1 1,115.7 689.8
4 4 Ghella 599.0 652.0 445.6
5 6 Bonatti 491.0 659.0 636.0
6 5 Trevi 418.4 502.3 74.0
7 7 Rizzani de Eccher 328.9 405.4 254.6
8 8 CMC 321.2 715.7 323.3
9 9 Pizzarotti 235.3 734.5 105.4
10 11 Renco 177.0 200.8 206.5
11 12 Bentini 175.0 204.0 294.3
12 10 Condotte 150.4 727.0 763.2
13 14 Seli 121.1 177.4 125.5
14 13 Sicim 102.7 149.4 255.5
15 15 Inso 85.8 209.3 37.3
16 16 Ferretti Int. 77.0 90.0 78.7
17 18 Ghizzoni 67.2 133.3 133.2
18 17 Maltauro 52.6 500.2 90.7
19 29 Conicos 35.5 35.5 7.0
20 23 Salcef 32.7 151.0 0.0
21 21 G.L. Fincosit 25.0 279.0 0.0
22 22 Valdadige 23.0 98.0 0.0
23 19 Vipp 18.1 58.8 31.4
24 24 Cossi 10.0 119.0 713.3
25 25 Claudio Salini 8.2 189.6 25.3
26 26 Edilmac 8.1 27.2 5.1
27 28 Vidoni 8.0 50.8 0.0
28 32 Matarrese 7.6 74.4 25.3
29 27 Ferretti Spa 3.8 9.2 1.7
30 31 Demoter 1.9 43.68 0.0* Pro forma 2009 based on Salini’s and Todini’s consolidated statements, edited in accordance with standardized accounting methods
0
1000
2000
3000
4000
5000
6000
7000
3,016.63,595.2
4,672.4
5,535.0
6,382.6
7,264.5
2004 2005
mill
ion
euro
2006 2007 2008 2009
The 2009 international turnover of the 40 Italian construction companies has exceeded 7.2 billion euro, more than the double of 2004.
International activities increase for all sizes of companies, with picks that exceed the 50% for some of them.
Company Size in terms % of International % of International of Total Revenue (million euro) Turnover in 2004 Turnover in 2009
UP TO 50 9.8% 21.7%
51-100 2.6% 25.1%
101-250 35.9% 50.8%
251-500 30.2% 36.7%
OVER 500 32.5% 58.4%
TOTAL 30.7% 54.0%
International Turnover(2004-2009)
80
100
120
140
160
180
200
220
240
2004 2005 2006 2007 2008 2009
INTERNATIONAL TURNOVER
NATIONAL TURNOVER
2004
= 1
00
International turnover is outpacing the domestic one significantly: the distance between the two curves keeps widening.
National v/s International Turnover (2004-2009)
0
2000
4000
6000
8000
10000
12000
14000
2004 2005 2006 2007 2008 2009
3,016.6
6,795.86,248.5
6,222.06,574.9
6,901.9 6,196.2
3,595.2 4,672.4 5,535.0 6,382.6 7,264.5
INTERNATIONAL TURNOVERNATIONAL TURNOVER
mill
ion
euro
The international turnover rose from less than 30% in 2004 to more than 50% in 2009.
National and International Turnover (2004-2009)
Company Size: International Turnover compared to Total Revenue
Range of Contracts’ Amounts(million euro)
> 1.000VENEZUELAALGERIASWITZERLANDPANAMA*ETHIOPIAUNITED ARAB EMIRATESQATARROMANIAPOLANDKAZAKHSTANNIGERIAARGENTINALYBIA
501-1.000UNITED STATESGREECETURKEYGREATER ANTILLES*SOUTH AFRICAICELANDGERMANYFRANCE
101-500COLOMBIAUGANDAKUWAITANGOLAMOZAMBIQUESPAINMOROCCOSAUDI ARABIAAZERBAIJANBULGARIAECUADORCONGO (REP.)TUNISIALAOSCHILEEL SALVADORJORDANAUSTRIAARMENIAALBANIAIRAN
51-100SWAZILANDCOSTA RICAHONG KONG (P.R.C.)RUSSIABELGIUMSIERRA LEONEMALAWILESSER ANTILLESBOLIVIALEBANON*PERU*CAPE VERDECROATIAUKRAINEGEORGIA*BRAZILMALTA
< 50NORWAYTAJIKISTANHONDURASKENYACHINAIRELAND*ISRAELINDIASYRIAZIMBABWENICARAGUASLOVENIATANZANIABOSNIA-HERZEGOVINAOMAN*IRAQIVORY COASTPHILIPPINESMEXICOSLOVAKIA*GUINEA-BISSAUHUNGARY*URUGUAYEGYPTSWEDEN*TAIWAN*
ConcessionsARGENTINABRAZILCHILECHINACOSTA RICAHONDURASUNITED KINGDOM
* New Countries in 2009
ITALIAN CONSTRUCTION SITES IN THE WORLD IN 2009
Total Ongoing Contracts
PRIMARY MARKETS FOR ITALIAN CONSTRUCTION FIRMS million euro
1. VENEZUELA 8,006.52. ALGERIA 3,389.13. SWITZERLAND 3,233.14. PANAMA 2,360.15. ETHIOPIA 1,903.16. UNITED ARAB EMIRATES 1,741.77. QATAR 1,639.78. ROMANIA 1,581.69. POLAND 1,287.9
10. KAZAKHSTAN 1,224.0Total Main 10 Markets 26,367.0Total Ongoing Works 44,103.1
New Contracts in 2009
1. PANAMA 2,360.12. POLAND 1,223.83. SWITZERLAND 964.94. KAZAKHSTAN 789.15. ALGERIA 626.56. LIBYA 542.27. COLOMBIA 399.98. GREATER ANTILLES 327.69. GERMANY 279.2
10. UNITED ARAB EMIRATES 251.1Total Main 10 markets in 2009 7,764.4Total New Works in 2009 10,152.0
NORTH AMERICA 959.7United StatesAstaldiCondotteGrandi Lavori FincositImpregiloRizzaniTrevi
CENTRAL AMERICA 3,337.8Costa RicaAstaldiGhellaEl SalvadorAstaldiGreater AntillesGhellaImpregiloHondurasAstaldiGhellaLesser AntillesGrandi Lavori FincositInsoMexicoEdilmacFerretti SpaNicaraguaAstaldiPanamaImpregiloSeli
SOUTH AMERICA 10,018.0ArgentinaEdilmacGhellaImpregiloTreviBoliviaGrandi Lavori FincositBrazilGhellaImpregiloSeliChileAstaldiColombiaGrandi Lavori FincositImpregiloTrevi
EcuadorImpregiloPeruAstaldiUruguayInsoVenezuelaAstaldiGhellaImpregiloSeliTrevi
NORTH AFRICA 6,684.1AlgeriaAstaldiBentiniBonattiCLFCMCCondotteCossiPizzarottiRizzaniSalini CostruttoriTreviEgyptBonattiEthiopiaSalini CostruttoriSeliLibyaBonattiConicosFerretti InternationalImpregiloMaltauroTreviMoroccoBentiniBitumstradeClaudio SaliniMatarresePizzarottiSalini CostruttoriTunisiaDemoterSalini CostruttoriVipp
SUB-SAHAR. AFRICA 3,171.5AngolaCMCTreviCape VerdeMaltauroCongo (Rep.)RencoSicimGuinea BissauTreviIvory CoastTreviKenyaMaltauroMalawiCMCMozambiqueCMCNigeriaBentiniImpregiloSalini CostruttoriTreviSierra LeoneSalini CostruttoriSouth-AfricaCMCImpregiloSwazilandCMCTanzaniaMaltauroUgandaSalini CostruttoriZimbabweSalini Costruttori
EU 5,531.3AustriaBonattiPizzarottiSeliBelgiumBentiniRencoBulgariaAstaldiCLFFerretti International
FranceEdilmacFerretti SpaGhellaGhizzoniInsoPizzarottiVippGermanyBonattiGhizzoniImpregiloSicimGreeceGhizzoniImpregiloInsoSeliHungaryTreviIrelandSicimMaltaIbiInsoPolandAstaldiValdadigeRomaniaAstaldiCarenaCossiFerretti SpaInsoItineraMonticavaPizzarottiSalcefSecolVippSlovakiaBottoliSloveniaVidoniVippSpainBonattiSeliVippSwedenTreviUnited KingdomImpregilo
EUROPE EXTRA EU 5,320.4AlbaniaBonattiClaudio SaliniInsoMaltauroMatarreseSalini CostruttoriArmeniaRencoAzerbaijanRizzaniSalini CostruttoriBosnia-HerzegovinaVidoniCroatiaGhizzoniSalcefVippGeorgiaSalini CostruttoriIcelandImpregiloNorwayImpregiloTreviRussiaRizzaniSeliSwitzerlandCondotteCossiEdilmacImpregiloPizzarottiTurkeyAstaldiSeliUkraineRizzaniSalini Costruttori
MIDDLE EAST 4,240.7JordanCondotteIranSeliTreviIraqBonatti
IsraelSeliKuwaitImpregiloLebanonRizzaniOmanTreviQatarImpregiloRizzaniSaudi Arabia BonattiMont-EleSyriaInsoUnited Arab EmiratesImpregiloRizzaniSalini CostruttoriTrevi
ASIA 1,571.3ChinaCMCImpregiloHong KongSeliTreviIndiaEdilmacSeliKazakhstanBonattiEdilmacRencoRizzaniSalini CostruttoriSicimLaosCMCPhilippinesTreviTaiwanEdilmacTajikistanRizzani
GEOGRAPHIC PRESENCE OF ITALIAN COMPANIES ABROADAmount of total works: 44,103.1 million euro
The majority of ongoing contracts abroad is concentrated in South-America. Other main geographic areas are North Africa,
the European Union and Europe Extra EU.
New contracts signed in 2009 are concentrated in Central America,European Union and North Africa. The importance of Asia increases.
Geographic Distribution of Italian Companies in 2009Total Amount of Contracts New Contracts in 2009
Sub-Saharian Africa8% Asia
4%
Middle East10%
Central America8%
North America2%
South America25%
EU14%
Extra EU13%
North Africa16%
Sub-Saharian Africa4% Asia
8%Middle East
6%North America
2%
Central America29%
South America6%
EU21%
Extra EU11%
Nord Africa13%
The majority of Italian companies work on complex infrastructures (railways,hydroelectric plants, roads, bridges, hydraulic works, subways).
Amount of Contracts per Sector(% on Total Revenue)
30
20
10
0
28.7
RAIL
WAY
S
12.9
HYDR
OELE
CTRI
C PL
ANTS
12.8
ROAD
S &
BRI
DGES
12.2
HYDR
AULI
C W
ORKS
9.1
OTHE
RS
8.1
SUBW
AYS
5.8
BUIL
DING
S
5.4
POW
ER, O
IL &
GAS
4.7
NON-
RESI
DENT
IAL
BUIL
DING
S
2.6
AIRP
ORTS
1.1
RESI
DENT
IAL
BUIL
DING
S
0.8
PILE
S &
FOU
NDAT
IONS
0.8
PORT
S
0.8
GARB
AGE
DISP
OSAL
PLA
NTS
%
Italian contractors are running 576 construction sites abroad for an amountexceeding 44 billion euro. Investment diversification is increasing.
The value of concessions has exceeded 16 billion euro.
Construction Value of ContractsSites n. million euro
WORKS
New Contracts in 2009 170 10,152.0
Contracts Pre-existing 2009 406 33,951.1
Total Works 576 44,103.1
CONCESSIONS
New Concessions in 2009 2 2,668.5
Concessions Pre-existing 2009 12 14,022.8
Total Concessions 14 16,691.3
Summarizing data on Italian international contracts
Overseas Works and International Relations OfficeVia Guattani, 16 - 00161 Rome - Italy
Tel. + 39 06 84567 434/437 Fax + 39 06 84567 566 [email protected]
Office for the Relations with the European Union Av. de la Joyeuse Entree’ 1, B -1040 Brussels - Belgium Tel: + 32 2 2861228 + 32 2 2309511
Astaldi [email protected]
www.astaldi.com
Bentini [email protected]
www.bentini.it
Bitumstrade [email protected]
www.bitumstrade.it
Bonatti [email protected]
www.bonatti.it
Bottoli Costruzioni [email protected]
Carena [email protected]
www.carenacostruzioni.com
www.clfspa.it
C.M.C. Di [email protected]
www.cmcra.com
Cogeis [email protected]
www.cogeis.it
Condotte [email protected]
www.condotte.com
Con.i.cos [email protected]
Cossi Costruzioni [email protected]
Demoter [email protected]
Edilmac [email protected]
www.edilmac.com
COMPANIES PART OF ANCE’S 2010 SURVEY
Ferretti International [email protected]
Ferretti [email protected]
www.ferrettispa.it
Ghella [email protected]
Ghizzoni [email protected]
Grandi Lavori Fincosit [email protected]
www.glf.it
I.B.I. [email protected]
Impregilo [email protected]
www.impregilo.it
Ing. Claudio Salini [email protected]
Inso [email protected]
www.inso.it
Itinera [email protected]
Maltauro [email protected]
www.maltauro.com
Mont-Ele [email protected]
www.mont-ele.it
Monticava Strade [email protected]
Pizzarotti & C. [email protected]
Renco [email protected]
www.renco.it
Rizzani De Eccher [email protected]
Salcef [email protected]
Salini Costruttori [email protected]
Salvatore Matarrese [email protected]
www.salvatorematarrese.com
S.E.C.O.L. [email protected]
S.E.L.I. [email protected]
www.selitunnel.com
Sicim [email protected]
Trevi [email protected]
Valdadige [email protected]
Vidoni [email protected]
Vipp Lavori [email protected]
www.vippspa.com