Rapport Annuel 2017

SUMMARY OF THE 137TH CORPORATE FINANCIAL YEAR 2 Chairman’s Statement 4 Editorial 6 2017 highlights 10 CFE in figures 12 Strategy 16 Board of Directors 18 Social responsibility 24 Innovation 28 Environmental responsability 30 Holding and non-transferred activities 34 Operational chart 36 Dredging, Environment, Offshore and Infra 40 Dredging 46 Dredging-Plus 54 DEME Concessions 56 Contracting 62 Construction 68 Multitechnics 70 Rail Infra & Utility Networks 72 Real Estate Development 1 Annual report 2017 Ongoing successful development CHAIRMAN’S STATEMENT Having assumed the chairmanship of CFE in mid-2016, I The Contracting division made substantial progress. finished the group’s first full financial year in 2017. Not only Its figures for 2017 were up to expectations, and we am I not disappointed, I am actually very satisfied with the are convinced that this division still holds plenty of development of each of CFE’s divisions. opportunities for growth. In an economic climate perhaps rather less buoyant than it When the Ackermans & van Haaren group acquired a was before - a passing phase, I am sure - DEME managed majority shareholding in the CFE group in 2013, many to hold its own remarkably well thanks to the installation believed that we were only interested in DEME and that the of offshore wind farms, as well as to the dynamism of the other activities, Contracting and Real Estate Development, teams. The substantial investments that we carried out, will would be neglected. Those people do not know us! The allow us to remain very competitive in the future. recent acquisition of the Van Laere group is proof - if that was still needed - of Ackermans & van Haaren’s attachment For Real Estate Development, 2017 was an exceptionally to CFE, as it strengthened CFE’s position in Contracting. positive year. BPI, which took on a new visual identity, confirms its position as one of the leading property Our ambition is to keep improving the operational developers in Belgium, Luxembourg and Poland. The excellence of every one of the companies in which we are investors were not wrong, and responded favourably to calls active. The work done by the managing directors and for corporate funding on the financial market. their teams was shown to pay off in 2017. I am sure it will continue to pay off in the years to come. 2 Annual report 2017 LUC BERTRAND CHAIRMAN OF THE BOARD OF DIRECTORS 3 Annual report 2017 The CFE group: riding on the crest of a wave! CFE ended 2017 with a net result after tax The trend observed in 2017 also bears out the of € 180.4 million, which is more than in logic of our organization: while the results 2016. The past year thus clearly confirms the of Dredging remained stable, Contracting Editorial upturn realized by the CFE group. and Real Estate Development reported a considerably better performance. The This positive result can be seen across the synergies that we will continue to develop three divisions. Not only DEME reported between the divisions will further consolidate results in line with the particularly excellent our economic model. That will become performance of 2016, the Contracting and evident very soon. Real Estate Development divisions also confirmed the favourable outlook at the The group should take another step forward beginning of the year. When we also look in 2018, given the quality of the orders that at the all-time high order book (with in have been won, in particular by DEME, which particular a more than € 350 million increase today can rely on the most efficient fleet in compared with the previous year for the the dredging industry and related services. Contracting division), we see that the CFE This leap forward will become a reality group is evidently on the right track. for the Contracting division in particular, which was joined by the Van Laere group in December. The arrival of this new member will substantially strengthen the construction business in Belgium and will enable the 4 Annual report 2017 The CFE RENAUD BENTÉGEAT PIET DEJONGHE MANAGING DIRECTOR MANAGING DIRECTOR extended group to take on the future We can all be proud of CFE’s performance in challenges more effectively. 2017, for it is the exceptional commitment of the entire workforce of the group that made After this year’s excellent performance, the it possible to achieve those results and that Real Estate Development division is well is still our greatest asset for the continuation placed to progressively become a major real and success of our future development. estate player in Belgium, Luxembourg and Poland. To this end, we must in 2018 continue the current programmes and further strengthen the development capabilities. The holding and non-transferred activities, which remain in CFE SA, underwent thoroughgoing reorganizations in 2016, particularly the international and civil engineering activities. Those reorganizations permitted in 2017 the continuation and, in some cases, the completion of contracts that were concluded several years ago and of which the results could have constituted a risk factor for the company. 5 Annual report 2017 2017 Highlights 01 02 03 BPI sold its stakes in the project DIMCO won, in joint venture, the contract development companies of the for the construction of the RijnlandRoute, ‘Oosteroever’ site in Ostend to the Versluys the new road link between Katwijk and Group. Leiden, which is intended to make the area more easily accessible, improve traffic flow, BPI Luxembourg SA, IMMOBEL SA, and and stimulate economic growth. BESIX RED SA finally sold the shares of the company PEF KONS INVESTMENT SA to AXA IM – Real Assets on behalf of AXA Belgium. GeoSea, the marine offshore engineering subsidiary of the DEME group, will design, build and install 71 wind turbine foundations for the Hohe See offshore wind farm in the German North Sea, for which GeoSea is the EPCI partner of Siemens. This partnership enables Siemens to provide offshore wind turbines including foundations to EnBW. 6 Annual report 2017 04 05 06 CLE began construction work on the BPC won the first contract for the modern residence ‘Fuussbann’ in construction of a building and hotel for Differdange, with spacious apartments, the China Belgium Technology Center in retail outlets, and a supermarket. the science park of Louvain-la-Neuve, the first Chinese incubator in Western DEME officially launched ‘Minerva’ in the Amart started up a new phase of the Europe. This first Chinese incubator port of Zeebrugge. This 3,500 m³ hopper residential project ‘Les Hauts Prés’ in complex will become an Intelligence dredger is the first dual fuel dredger in Uccle for the property developers BPI and Valley for Chinese businesses. The works the world able to run entirely on liquefied Belgian Land. are expected to last eight years. The natural gas (LNG). This vessel has a Green China Belgium Technology Center will Passport and a Clean Design certificate, eventually comprise five incubators for and meets the strictest international high-tech Chinese companies specializing emission standards. in biotechnology, nanotechnology, IT and The boards of directors of Ackermans telecommunication, optoelectronics, and & van Haaren and CFE examined the sustainable development. possibility of bringing together the activities of the Van Laere group and of CFE Contracting under CFE. The Van Laere group, a leading general contractor in Belgium, is 100% owned by Ackermans & van Haaren. The main entities of the Van Laere group are Algemene Aannemingen Van Laere NV, Groupe Thiran SA and Arthur Vandendorpe NV. CFE Polska signed several contracts for international customers, such as the construction of the residential project Riverview in Gdansk for VASTINT, the real estate division of the IKEA group, and the extension of the Platan shopping centre for ROCKCASTLE. 7 Annual report 2017 2017 highlights 07 09 10 The joint venture Sassevaart will build GeoSea signed an agreement with Moray the New Terneuzen Lock. The Belgo- East for the design, supply, construction Dutch joint venture Sassevaart consists and installation of around 100 wind turbine of construction firms such as Van foundations and three offshore substation Laere, and includes two subsidiaries of platform foundations, and for the DEME, namely the dredging company transport and installation of three offshore Dredging International, and DIMCO, substation platforms. The agreement is which specializes in civil and hydraulic subject to financial close which is expected engineering structures. The joint venture in the second half of 2018. Moray Offshore will design, build and maintain the New Windfarm East is a joint venture between Lock for a two-year period. It will be put EDP Renewables (77%) and ENGIE (23%). up in the present Terneuzen lock complex, between Westsluis and Oostsluis. It will be 427 metres high, 55 metres wide, and GeoSea signed an agreement with 16 metres deep. Work is due to start at the DONG Energy and Siemens to acquire end of 2017 and will take about five years. full ownership of A2SEA. A2SEA will The first ship is expected to pass through it continue to operate from Denmark for the in 2022. The New Lock will improve access maintenance and installation of offshore to the ports of Ghent and Terneuzen, and wind turbines. will facilitate maritime shipping between the Netherlands, Belgium and France. It will also give a fresh boost to the economy of Zeeland Flanders and the Flemish Region. CLE began construction work on the residential project ‘Domaine de l’Europe - Kiem’ on the Kirchberg plateau in Luxembourg for the property developer BPI. 8 Annual report 2017 11 12 GeoSea announced the acquisition CFE Contracting acquired full ownership After changing its company name into of a majority shareholding (72.5%) in of the company Aannemingen Van Laere BPI Real Estate Belgium for a better G-tec.

Load more