SURVEY 2010 THE ITALIAN CONSTRUCTION COMPANIES 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 growing despite domestic market s weakness The 40 Italian construction companies which are part of Ance s Survey, have been increasing their overseas activities in order to balance the contraction of the domestic market. New international markets have been targeted with dynamism and determination. The 2009 international turnover of the 40 companies has exceeded 7.2 billion euro, thus achieving an annual 20% growth (average) for the past 5 years. The 40 companies have almost tripled their international turnover by comparison to 2003 (2,5 billion euro), which is now the 54% of the global. These companies are running 576 construction sites in 86 countries (+6 compared to last year), with a portfolio of 44 billion euro. In 2009 they have signed 170 new contracts for a global value of 11 billion euro. In addition, the companies operate concessions for 16.7 billion euro. The Italian construction companies core business is the achievement of complex infrastructures, such as railways, roads, bridges, subways, pipelines, hydroelectric plants and networks, hydraulic works, airports. The Italian construction sector, which is confronted with the persistent recession of it s domestic market, shows a remarkable competitiveness on international markets. Top Italian International Contractors (million euro) Rank Company International Total New Contracts 2009 2008 Revenue 2009 Revenue 2009 2009 1 1 1,763.0 2,706.0 4,032.5 2 2 1,028.2 1,869.5 1,561.2 3 3 (*) 884.1 1,115.7 689.8 4 4 599.0 652.0 445.6 5 6 491.0 659.0 636.0 6 5 418.4 502.3 74.0 7 7 de Eccher 328.9 405.4 254.6 8 8 321.2 715.7 323.3 9 9 235.3 734.5 105.4 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 14 121.1 177.4 125.5 14 13 Sicim 102.7 149.4 255.5 15 15 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 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 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 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
International Turnover (2004-2009) National and International Turnover (2004-2009) million euro 7000 6000 5000 4000 3000 3,016.6 3,595.2 4,672.4 5,535.0 6,382.6 7,264.5 million euro 14000 12000 10000 8000 6000 6,795.8 NATIONAL TURNOVER INTERNATIONAL TURNOVER 6,248.5 6,222.0 6,574.9 6,901.9 6,196.2 2000 1000 4000 2000 3,016.6 3,595.2 4,672.4 5,535.0 6,382.6 7,264.5 0 2004 2005 2006 2007 2008 2009 0 2004 2005 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. The international turnover rose from less than 30% in 2004 to more than 50% in 2009. National v/s International Turnover (2004-2009) Company Size: International Turnover compared to Total Revenue 2004 = 100 240 220 200 180 160 140 120 100 80 INTERNATIONAL TURNOVER NATIONAL TURNOVER 2004 2005 2006 2007 2008 2009 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 is outpacing the domestic one significantly: the distance between the two curves keeps widening. International activities increase for all sizes of companies, with picks that exceed the 50% for some of them.
Range of Contracts Amounts (million euro) > 1.000 VENEZUELA ALGERIA SWITZERLAND PANAMA* ETHIOPIA UNITED ARAB EMIRATES QATAR ROMANIA POLAND KAZAKHSTAN NIGERIA ARGENTINA LYBIA 501-1.000 UNITED STATES GREECE TURKEY GREATER ANTILLES* SOUTH AFRICA ICELAND GERMANY FRANCE 101-500 COLOMBIA UGANDA KUWAIT ANGOLA MOZAMBIQUE SPAIN MOROCCO SAUDI ARABIA AZERBAIJAN BULGARIA ECUADOR CONGO (REP.) TUNISIA LAOS CHILE EL SALVADOR JORDAN AUSTRIA ARMENIA ALBANIA IRAN 51-100 SWAZILAND COSTA RICA HONG KONG (P.R.C.) RUSSIA BELGIUM SIERRA LEONE MALAWI LESSER ANTILLES BOLIVIA LEBANON* PERU* CAPE VERDE CROATIA UKRAINE GEORGIA* BRAZIL MALTA < 50 NORWAY TAJIKISTAN HONDURAS KENYA CHINA IRELAND* ISRAEL INDIA SYRIA ZIMBABWE NICARAGUA SLOVENIA TANZANIA BOSNIA-HERZEGOVINA OMAN* IRAQ IVORY COAST PHILIPPINES MEXICO SLOVAKIA* GUINEA-BISSAU HUNGARY* URUGUAY EGYPT SWEDEN* TAIWAN* Concessions ARGENTINA BRAZIL CHILE CHINA COSTA RICA HONDURAS UNITED KINGDOM * New Countries in 2009
ITALIAN CONSTRUCTION SITES IN THE WORLD IN 2009 PRIMARY MARKETS FOR ITALIAN CONSTRUCTION FIRMS million euro Total Ongoing Contracts 1. VENEZUELA 8,006.5 2. ALGERIA 3,389.1 3. SWITZERLAND 3,233.1 4. PANAMA 2,360.1 5. ETHIOPIA 1,903.1 6. UNITED ARAB EMIRATES 1,741.7 7. QATAR 1,639.7 8. ROMANIA 1,581.6 9. POLAND 1,287.9 10. KAZAKHSTAN 1,224.0 Total Main 10 Markets 26,367.0 Total Ongoing Works 44,103.1 New Contracts in 2009 1. PANAMA 2,360.1 2. POLAND 1,223.8 3. SWITZERLAND 964.9 4. KAZAKHSTAN 789.1 5. ALGERIA 626.5 6. LIBYA 542.2 7. COLOMBIA 399.9 8. GREATER ANTILLES 327.6 9. GERMANY 279.2 10. UNITED ARAB EMIRATES 251.1 Total Main 10 markets in 2009 7,764.4 Total New Works in 2009 10,152.0
GEOGRAPHIC PRESENCE OF ITALIAN COMPANIES ABROAD Amount of total works: 44,103.1 million euro NORTH AMERICA 959.7 United States Condotte Grandi Lavori Fincosit CENTRAL AMERICA 3,337.8 Costa Rica El Salvador Greater Antilles Honduras Lesser Antilles Grandi Lavori Fincosit Mexico Ferretti Spa Nicaragua Panama SOUTH AMERICA 10,018.0 Argentina Bolivia Grandi Lavori Fincosit Brazil Chile Colombia Grandi Lavori Fincosit Ecuador Peru Uruguay Venezuela NORTH AFRICA 6,684.1 Algeria Bentini CLF Condotte Cossi Egypt Ethiopia Libya Conicos Ferretti International Morocco Bentini Bitumstrade Claudio Salini Matarrese Tunisia Demoter SUB-SAHAR. AFRICA 3,171.5 Angola Cape Verde Congo (Rep.) Renco Sicim Guinea Bissau Ivory Coast Kenya Malawi Mozambique Nigeria Bentini Sierra Leone South-Africa Swaziland Tanzania Uganda Zimbabwe EU 5,531.3 Austria Belgium Bentini Renco Bulgaria CLF Ferretti International France Ferretti Spa Ghizzoni Germany Ghizzoni Sicim Greece Ghizzoni Hungary Ireland Sicim Malta Ibi Poland Valdadige Romania Carena Cossi Ferretti Spa Itinera Monticava Salcef Secol Slovakia Bottoli Slovenia Vidoni Spain Sweden United Kingdom EUROPE EXTRA EU 5,320.4 Albania Claudio Salini Matarrese Armenia Renco Azerbaijan Bosnia-Herzegovina Vidoni Croatia Ghizzoni Salcef Georgia Iceland Norway Russia Switzerland Condotte Cossi Turkey Ukraine MIDDLE EAST 4,240.7 Jordan Condotte Iran Iraq Israel Kuwait Lebanon Oman Qatar Saudi Arabia Mont-Ele Syria United Arab Emirates ASIA 1,571.3 China Hong Kong India Kazakhstan Renco Sicim Laos Philippines Taiwan Tajikistan
Geographic Distribution of Italian Companies in 2009 Total Amount of Contracts New Contracts in 2009 Extra EU 13% North Africa 16% Sub-Saharian Africa 8% Asia 4% Middle East 10% North America 2% Extra EU 11% Nord Africa 13% Sub-Saharian Africa 4% Asia 8% Middle East 6% North America 2% EU 14% South America 25% Central America 8% 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. EU 21% South America 6% Central America 29% New contracts signed in 2009 are concentrated in Central America, European Union and North Africa. The importance of Asia increases. % 30 20 10 0 RAILWAYS 28.7 HYDROELECTRIC PLANTS 12.9 Amount of Contracts per Sector (% on Total Revenue) ROADS & BRIDGES 12.8 HYDRAULIC WORKS 12.2 OTHERS 9.1 SUBWAYS 8.1 BUILDINGS 5.8 The majority of Italian companies work on complex infrastructures (railways, hydroelectric plants, roads, bridges, hydraulic works, subways). POWER, OIL & GAS 5.4 NON-RESIDENTIAL BUILDINGS 4.7 AIRPORTS 2.6 RESIDENTIAL BUILDINGS 1.1 PILES & FOUNDATIONS 0.8 PORTS 0.8 GARBAGE DISPOSAL PLANTS 0.8 Summarizing data on Italian international contracts Construction Sites n. Value of Contracts 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 Italian contractors are running 576 construction sites abroad for an amount exceeding 44 billion euro. Investment diversification is increasing. The value of concessions has exceeded 16 billion euro.
SpA investor.relations@astaldi.com www.astaldi.com Bentini SpA bentini@bentini.it www.bentini.it Bitumstrade Srl bitumstrade@bitumstrade.it www.bitumstrade.it SpA bonatti@bonatti.it www.bonatti.it Bottoli Costruzioni SpA info@bottoli.it www.bottoli.it Carena SpA direzione@carenacostruzioni.com www.carenacostruzioni.com CLF SpA clf.spa@clfspa.it www.clfspa.it C.M.C. Di Ravenna cmcestero@cmcra.com www.cmcra.com Cogeis SpA cogeis@cogeis.it www.cogeis.it Condotte SpA condotte@condotte.com www.condotte.com Con.i.cos SpA info@conicos.eu www.conicos.eu Cossi Costruzioni SpA info@cossi.com www.cossi.com Demoter SpA info@demoter-net.it www.demoter-net.it Srl edilmac@edilmac.com www.edilmac.com COMPANIES PART OF ANCE S 2010 SURVEY Ferretti International Srl info@ferretti-group.com www.ferretti-group.com Ferretti SpA ferretti@ferrettispa.it www.ferrettispa.it SpA roma@ghella.com www.ghella.com Ghizzoni SpA info@ghizzonispa.com www.ghizzonispa.com Grandi Lavori Fincosit SpA glf@glf.it www.glf.it I.B.I. SpA info@ibispa.com www.ibispa.com SpA impregilo@impregilo.it www.impregilo.it Ing. Claudio Salini SpA info.roma@claudiosalinispa.it info.milano@claudiosalinispa.it www.claudiosalinispa.it SpA info.inso@inso.it www.inso.it Itinera SpA itinera@itinera-spa.it www.itinera-spa.it SpA maltauro@maltauro.com www.maltauro.com Mont-Ele Srl segreteria@mont-ele.it www.mont-ele.it Monticava Strade Srl info@monticava.it www.monticava.it & C. SpA public@pizzarotti.it www.pizzarotti.it Renco SpA rencospa@renco.it www.renco.it De Eccher SpA mail@rizzanideeccher.com www.rizzanideeccher.com Salcef SpA gare@salcef.com www.salcef.com SpA mail@salini.it www.salini.it Salvatore Matarrese SpA info@matarrese.com www.salvatorematarrese.com S.E.C.O.L. SpA m.secol@katamail.it S.E.L.I. SpA selispa@selitunnel.com www.selitunnel.com Sicim SpA info@sicim.eu www.sicim.eu SpA trevi@trevispa.com www.trevispa.com Valdadige SpA info@valdadige.it www.valdadige.it Vidoni SpA info@vidonispa.it www.vidonispa.it Lavori SpA vippspa@vippspa.com www.vippspa.com Overseas Works and International Relations Office Via Guattani, 16-00161 Rome - Italy Tel. + 39 06 84567 434/437 Fax + 39 06 84567 566 estero@ance.it 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