Activity Report .08

Activity report .08

A century of building experience

BESIX Group s a Avenue des Communautés 100 B-1200 Brussels – Belgium T +32 (0)2 402 62 11 F +32 (0)2 402 62 05 [email protected]

www.besixgroup.com linknv.be General info

Consolidated Key Figures 2008

2004* 2005* 2006* 2007** 2008** 2009 Turnover 877.0 1,014.0 1,275.8 1,560.2 2,091.3 EBITDA 63.8 52.4 77.6 88.9 132.0 EBITDA (%) 7.3% 5.2% 6.1% 5.7% 6.3% EBIT 38.0 30.8 49.8 54.8 88.4 Net result 28.4 36.2 40.6 51.6 75.0 Return on sales (%) 3.2% 3.6% 3.2% 3.3% 3.6% Order book 01/01 850.0 1,364.0 1,590.0 1,712.0 2,318.0 3,627.0 Equity 106.5 129.5 152.8 200.9 267.6

(*) BGAAP (Belgian Generally Accepted Accounting Principles) (**) IFRS (International Financial Reporting Standards)

“A record year in terms of turnover and result. An exceptional order book”. Paul Mouton, CFO

Evolution of Turnover Evolution of Order book (in ’000 €) (in ’000 €) on 01/01

2,500 4,000 3,627 3,500 2,091 2,000 +34% 3,000 1,560

2,500 2,318 1,500 1,280 1,276 2,000 2,706 1,712 795 1,014 1,000 1,590 877 1,500 1,364 676 1,538 344 296 1,087 1,000 850 1,051 710 500 811 765 340 581 670 600 500 921 654 780 625 539 510 0 0 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 2009

Benelux-France International Benelux-France International Key Figures 1

turnover ebitda +34.0% +48.5% € 2,091.3 million € 132.0 million

net cash flow IFRS net Result +55.7% +45.3% € 143.1 million € 75.0 million

Turnover by Sector Turnover by Region

Gulf region 31% Buildings 27% 53% Civil works 47% Belgium

Others 10% 2% Marine works 12% 2% 5% The Netherlands 1% 3% Environmental Construction Quarries G.D. Luxembourg 2% 2% Eastern Europe France 3% management North Africa Central Others Africa 2 General info Message from the CEO

Message from the CEO

Financially, 2008 was a very good year for BESIX. Sales, at € 2.1 billion, were up 34% compared with 2007. EBIT rose from € 54.8 million to € 88.4 million (+61.3%) and net income from € 51.6 million to € 75.0 million (+45.3%).

Johan Beerlandt, CEO

Challenges & opportunities Targeting safety

We are now feeling the effects of the crisis – already To carry out our work and projects successfully, apparent at the end of 2008 – especially in our in- special attention will be placed on safety in the work- ternational projects. Emirates such as Dubai are place. That remains one of our top priorities. In 2008, particularly affected. Even so, we remain confident in the majority of Group companies have performed the prospects offered by the Middle East, a market better than the average for our industry but ‘zero ac- in which we have been present since the 1960s, and cident’ is the goal towards which we must strive. which represents over 50% of our business. Other emirates, such as Abu Dhabi, and Qatar are already Centenary catching up, but we are interested in neighbouring countries. We are also looking carefully at regions of 2009 is also a special year for our Group. Created on the world such as Central Asia, (we are already active 13 January 1909 as the Société belge des Bétons in Rep. of Azerbaijan) or Australia (where important et Planchers tubulaires, it celebrates its 100th an- marine works are planned). niversary this year! What a history of projects and successes! Our company may be one hundred years A new structure that will enable us old, but it is as dynamic as ever and ready to face to bounce back new challenges.

In order to position ourselves better to address these To demonstrate our concern for the society in which changes, our Group has adopted its strategy and we operate and evolve, the Group has established reviewed its structure in depth. The ‘Contracting’ divi- the BESIX Foundation. This foundation will work in sion has been restructured, using a double ‘product’ 3 areas: the environment, construction and facilitat- and ‘region’ approach. BESIX Group, which is active ing access to education for the underprivileged in in construction, real estate and concessions, intends society. to target its professional skills and know-how more precisely, focusing on ‘special projects’ and strengthening its positions in PPP (public-private partnership). Johan Beerlandt Prospects

Our order book stands at € 3.6 billion, up 50% from end-2007. This allows us to look to the future with confidence but also with realism. 2009 will be a year of stabilization, if not consolidation. Table of Contents 3

Table of Contents

General info Consolidated Financial 1 Key Figures Statements 2008 2 Message from the CEO 90 Comments from the CFO 4 A Century of Experience 92 Balance sheet 93 Income statement Corporate info 94 Consolidated cashflow statement 8 Vision & Mission 95 Information regarding the Consolidated 10 Activity Zones Financial Statements 12 Corporate Governance 13 Board of Directors and Committees 96 Companies 14 Key Events 2008 16 Health, Safety, Environment (HSE) 19 Human Resources 22 Engineering, Materials and Structures Group organization Project Highlights 26 Group Structure 28 Business Units Schiecentrale 38 30 Contracting Biodiesel projects 42 32 Construction Timbabe Bridges 48 33 Large Buildings Riaba Bridges 49 40 Civil Works Benelux-France Port of Tangier 52 44 Civil Works International Burj Dubai Tower 62 50 Marine Works Sharjah waste water treatment plant 68 54 BESIX 56 International Subsidiaries

59 Construction Middle East 60 Dubai 64 Abu Dhabi 66 Qatar

67 Contracting New Developments 67 BESIX Sanotec 70 Socogetra 72 Franki Foundations Group Belgium

73 Regional Affiliates 74 Vanhout 75 Wust 76 Jacques Delens 77 Lux TP 78 Cobelba

80 Real Estate 84 Concessions 4 General info

A Century of Experience 2009 is BESIX’s centenary year! This celebration marks a major milestone in the BESIX Group’s history

Initially called ‘Société belge des Bétons et Planchers • In the 1920s SBB went ‘overseas’ and did marine tubulaires (Brevets Herbst), société anonyme’ (SBB), works on a large scale for the first time. Three the company was founded on 13 January 1909 by kilometres of breakwaters were built for the port the three Stulemeijer brothers. They were based in of Valencia on the Mediterranean coast of Spain. Breda, the Netherlands, and established SBB’s first After this, SBB became a prominent contractor for office in Antwerp, Belgium. harbour, canal and river projects.

Over the years, SBB has diversified its know-how • After the Second World War, SBB started working in different disciplines of the construction industry. in Congo and has continued to work in Africa ever At first, SBB was specialized in concrete works for since. From the 1950s, SBB began to diversify into industrial and infrastructure projects. the building market. A Century of Experience 5

• Since 1966, the Group has been active in the Gulf In the past 10 years, BESIX has also become a world 1 Employee reception region. The work was prepared in the Brussels’ leader in designing and building jetties for LNG for the Centenary headquarters and plant and equipment shipped loading or off-loading terminals. of BESIX Group, Tervuren – Belgium out from Belgium. On-site execution was entrusted For the 5 last years, it has opened up new horizons 2 to the joint venture Six Construct which combined for expansion in a constantly changing world. The Harbour, the expertise of the then six Group companies. Group now profiles itself as amultidisciplinary Valencia – Spain Two contracts were tackled simultaneously: the group. It has expanded its competences (environ Abu Dhabi ‘corniche’ and a quay wall for Doha ment, roads, foundations) and has developed its harbour in Qatar. The Group has been active in the experience in new types of contracts (PPP, BOOT, region without a break ever since. DBFM). It wants to deliver custom-made solutions to its clients. It has sought to detect new niches, • Also during the 1960s, SBB was involved in the fruits of which it hopes to harvest in the coming major infrastructure works in Belgium, such years. The Group also wants to keep alive its as the Ronquières ‘inclined plane’ project on ‘pioneer’ spirit. the Brussels-Charleroi canal and the Kennedy tunnel on the Antwerp ring road crossing the river Scheldt. SBB also undertook various works in the port of Zeebrugge, including the new sea lock, quay walls for several docks and the breakwaters for the outer harbour.

• Looking always for innovation, BESIX has developed in-house an ever-more efficient self-climbing formwork for cooling towers.

• At the end of the eighties, the Group entered the Eastern European market. From this first project onwards BESIX showed its ‘design & build’ know- how by completing a +500-room hotel in Moscow in the record time of 20 months. This contract was followed by various building projects in Poland and in other countries in Eastern Europe.

• At the end of 2004, the year of the Management buy-out, SBB became BESIX Group. It was a new era for the Group. BESIX was selected to build the world’s tallest tower, the Burj Dubai Tower, in joint venture.

• Over the past 20 years, BESIX has built up a solid reputation as a specialist of high-rise buildings 2 with references in Dubai, Abu Dhabi, Doha, Cairo, 1945 Warsaw, Rotterdam and Paris. 6

1 1910

2 Corporate info 7

1 First Group project, ‘rue Courbe’, Brussels – Belgium

2 ‘Espace Léopold’, Brussels – Belgium

3 Hospital, Lodelinsart – Belgium Architect: GEI SA

4 Aspire Tower, Corporate info Doha – Qatar Architect: Hadi Simaan, Arep

Vision & Mission Activity Zones Corporate Governance Board of Directors and Committees Key Events 2008 Health, Safety, Environment (HSE) Human Resources Engineering, Materials and Structures

4 8 Corporate info

Vision & Mission

Vision

• To build skyline-defying buildings, develop engi- as a specialist in alternative forms of contract neering structures that meet the current and future (public-private partnership, DBFM, concessions). needs of society, provide housing for a growing population, contribute to improving the management of the environment through waste water Missions treatment... these are the challenges that the BESIX Group has set itself. • To offer its clients a total and ‘tailor-made’ service. • While keeping its Belgian identity, it is emerging • To use the know-how and creativity of our as a world player in the construction and associ- in-house engineering department to produce ated activities, favouring sustained geographic innovative solutions. expansion and diversification with its various • To offer a consistent and complementary structure specializations. compatible with a long term approach. • To incorporate the different companies under the • In order to cater for the growing complexity of banner of a common identity. construction projects and the development of new value-added services, the BESIX Group has expanded its range of skills, establishing itself Values

• To promote a shared vision of the issues, placing the emphasis on skills, expertise, a sense of responsibility, a sense of belonging and entrepreneurial qualities. • To reconcile individual satisfaction and the development of talent. • To encourage diversity. • To maintain a healthy and safe working environment. • To be involved in the community and support corporate citizenship through sponsorship with the creation of the BESIX Foundation.

1 Vision & Mission 9

1 Arteveldehogeschool, Ghent – Belgium Architect: Crepain Binst Architecture nv

2 / 3 The ‘Princess Elisabeth’ polar station, Antarctic Architect: International Polar Foundation, Philippe Samyn & Partners

BESIX Foundation

On 13 January 2009, BESIX Group created the ‘BESIX Foundation’. This is a private foundation that will be active in the areas of the environment, construction and education for the disadvantaged.

The Group wished, on the occasion of its centenary and through its Foundation, to engage with its employees and the social entrepreneurs who strive throughout the world to improve the living conditions of the most underprivileged and to defend our environment.

www.besixfoundation.com 10 Corporate info

Activity Zones

The BESIX Group is a Group of industrial companies operating in construction, roads, infrastructure, environmental, concessions and property development sec- tors. Founded in 1909, the Group has a record of regular and impressive growth. It profiles itself as a multi-services group.

For over 85 years the Group has built up a solid international reputation, with experience in some fifty countries. Today it is working in seventeen countries on four continents.

In addition to the activities of BESIX, Cobelba, Jacques Delens, Lux TP, Socogetra, Vanhout, Franki Foundations Group Belgium and Wust in the European Union, the Group is also present in Eastern Europe, North and Central Africa, in the Middle East, via Six Construct, in Central Asia and the Caribbean. Jamaica The BESIX Group has approximately 20,000 employees Trinidad & Tobago worldwide.

85years 60years 40years OF INTERNATIONAL OF ACTIVITIES of EXPERIENCE IN ACTIVITIES IN AFRICA THE MIDDLE EAST Activity Zones 11

United Kingdom The Netherlands Poland

Belgium

G.D. of Luxembourg France

Italy Republic of Azerbaijan

Morocco

Qatar Egypt United Arab Emirates

Oman

Cameroon

Equatorial Guinea

20years of ACTIVITIES IN EASTERN EUROPE 12 Corporate info

Corporate Governance BESIX Headquarters, Brussels – Belgium

BESIX Group follows the Belgian recommendations - The Audit Committee focuses on the consoli- on good corporate governance for non-listed com- dated annual and semi-annual accounts and panies. These recommendations are implemented on the unconsolidated accounts, in liaison with essentially as follows: management and the company auditor. It also keeps watch on the internal control systems, • The vision and mission of the Group and its com- major risks linked to the activities of the compa- panies are regularly reviewed, in particular by the ny and its constituent companies and their good Board of Directors and its Executive & Strategic governance. Committee, with objectives set accordingly. The Group has also adopted governance rules for itself - The Remuneration & Nomination Committee and its various constituent companies. monitors and assesses the work of the senior managers of the Group and its constituent com- • The Group Board of Directors plays an active and panies, and the human resources policy of the regular role, assisted by advisory committees, in Group and its companies. supporting the Managing Director and management, in the operating and financial control of the - The Executive & Strategic Committee concen- Group and its constituent companies, and in safe- trates on the vision and mission and the result- guarding their interests, in particular in the event ing strategic objectives of the Group and its con- of a crisis or conflict; the Board of Directors is stituent companies, and on their implementation. composed so as to ensure balance and independ- ence, with four external directors, including the • To ensure quality performance, proper report- chairman. Decisions are taken collegially and the ing and a collegial spirit, the management of the functioning of the board is regularly reviewed. Group and its constituent companies is involved in the implementation of the enterprise strat- • Advisory committees are set up within the Board egy defined by the Board of Directors and imple- of Directors. These prepare the information to mented by the Managing Director. To this end, be discussed at board meetings and formulate management is represented on the Executive & opinions for it: Strategic Committee. Corporate Governance & Board of Directors and Committees 13

Board of Directors and Committees

Board of Directors (Situation as per 31 March 2009)

Baron Jean Stéphenne 1 Chairman Johan Beerlandt 2 Vice-Chairman, Managing Director – CEO Nassef Sawiris Vice-Chairman Philippe Muûls Director Luc Vandewalle Director Baron Philippe Vlerick Director Jean-Jacques Delens Director Philippe Quoilin 3 Director Karim Camel-Toueg Director Nicolas Estay Director

End of mandates: 2010

Baron Paul de Meester Honorary Chairman

Audit Committee Remuneration and Nominations Committee

Luc Vandewalle (Chairman) Baron Jean Stéphenne 1 (Chairman) Philippe Muûls Johan Beerlandt 2 Baron Philippe Vlerick Nassef Sawiris Fadi Kiama

Executive and Strategy Committee

Johan Beerlandt 2 (Chairman) Chief Executive Officer Nassef Sawiris Werner Dekkers Chief Development Officer Jean-Jacques Delens 4 Managing Director (Real Estate) Jules Janssen General Manager (Construction) Paul Mouton Chief Financial Officer Philippe Quoilin 5 Chief Operating Officer (Contracting) Karim Camel-Toueg

Frédéric de Schrevel General Secretary Geert Aelbrecht Group Human Resources Director

1 Permanent representative of Innosté s a 2 Permanent representative of Bevafins a 3 Representing ManCo Investment Company s c r l 4 Permanent representative of Nemofins a 5 Permanent representative of Philippe Quoilin s p r l 14 Corporate info

Key Events 2008

Our know-how at the service For a comprehensive service of our planet In May 2008, Coentunnel Company, a concession At the beginning of 2008, BESIX participated in the company in which BESIX holds a stake, signed a construction of the structural works of the ‘Princess DBFM (Design, Build, Finance & Maintain) contract Elisabeth’ polar station in the Antarctic. with Rijkswaterstaat for extending the capacity of the Coentunnel in Amsterdam. In the Caribbean In July 2008, BESIX, as part of a consortium, signed BESIX inaugurated a central bus station in a BOOT (Build, Own, Operate and Transfer) contract Kingston, Jamaica in January 2008, before heading with the Emirate of Abu Dhabi, relating to the financ- to Trinidad-Tobago as part of a joint venture to build ing, design, construction and operation of two waste a 307 m long quay wall. water treatment plants for the cities of Abu Dhabi and Al Ain. New partnership ALDAR-BESIX have formed a joint venture manage- In March 2008, BESIX signed a partnership agreement contracting company for carrying out the ment with Suez Energy Services, and its Belgian exceptional ‘Ferrari Experience’ project of Yas Island subsidiary Axima Services, to jointly develop engi- in Abu Dhabi. neering maintenance, energy management and facility management activities in the Middle East. The renovated site of the former Bethaniënklooster (Bethany monastery) is a PPP project. Vanhout, in joint venture, had to convert the property for its new use. This also included designing and implement- ing the ICT platform and accompanying the global change process. Key Events 2008 15

3 1 5 The ‘Princess Elisabeth’ polar station, Antarctic Architect: International Polar Foundation, Philippe Samyn & Partners

2 Coentunnel, Amsterdam – The Netherlands

3 Bus Terminal, Kingston – Jamaica

4 Ferrari Experience, Abu Dhabi – U.A.E. Architect: M/s Benoy

5 Global Water Award 2008 won by BESIX Sanotec and Six Construct

Reaching for the sky realized by BESIX, with Six Construct, began in February 2006 and finished in February 2008. It was The final stage of the construction of theB urj Dubai awarded ‘Best Infrastructure project’ by the ‘Gulf Tower has begun. The tower’s concrete structure, States Building Awards’. that will finally reach a height of over 800 m, was completed at the end of October 2008. BESIX cited twice at ‘Global Water Awards 2008’ The Group expands The GWI* Global Water Awards 2008 awarded by At the end of December, the BESIX Group signed an the newsletter Global Water in London, BESIX last agreement to take over Franki Foundation Group April 2008: Belgium. • In the category Water Deal of the Year, BESIX (BESIX Sanotec and Six Construct) was pro- A century of experience claimed winner of the year for the contract signed in December 2007 to build the waste water treat- The Group is putting the finishing touches to its ment plant at Jumeirah Golf Estates (220,000 m³/ 100th anniversary celebrations. Its subsidiaries are day), in joint venture with Degrémont. also celebrating key milestones: Wust (75 years) and • In the category Desalination Plant of the Year, Socogetra (60 years). Take a look back over all those BESIX was highly recommended for its participa- years of experience to build for the future. tion in the 200,000 m³ reverse osmosis sea water desalination plant in Algeria. BESIX and Orascom Best infrastructure project: are taking part in the project as EPC Contractors. Al Garhoud Bridge

The Al Garhoud Bridge will become as important as the new Ras Al Khor crossing bridge. The project, (*) Global Water Intelligence 16 Corporate info

Health, Safety, Environment (HSE) The human face of the BESIX Group

Workplace safety and the environment have always occupied an essential place in the BESIX Group. Compliance with safety instructions and the concern for a more environmently friendly workplace are clearly beneficial for the well-being of our staff. Over the past years, the HSE department has developed new projects that are aimed at driving for further improvement in these areas.

The HSE department is continuing its policy of informing the workforce about safety on site. Its primary objective undeniably remains to provide top notch functional support to the business (read project teams) in order to continually work towards the ultimate goal of ‘zero accidents’. Every year, the BESIX HSE department re-evaluates in close consultation with a selected group of senior operational line man- Maastoren, Rotterdam – The Netherlands Architect: Dam & Partners agers, the portfolio of targeted HSE programmes and activities in order to ensure continued progress “Zero accidents is on the journey towards HSE excellence. the only acceptable result.”

Ras Laffan Project 4.5 Million hours without any accidents

The team of the Ras Laffan Precast project, a joint venture with Six Construct, has worked 4.5 million hours without any single Days Away From Work Case (DAFWC, alias lost time accident).

Key pro-active elements that are driving this remarkable safety performance achievement are: daily HSE observation reporting, risk assessments and Job Safety Analysis for all major activities, weekly HSE meetings, inspections & safety walks, weekly toolbox talks and pre-task briefings, and monthly HSE awareness training sessions, ... This is implemented and controlled by the project’s HSE team following a monthly activity plan. Health, Safety, Environment (HSE) 17

Safety, the primary objective Work accident frequency rate (number of work accidents occuring per million hours worked) It is important to raise the awareness of the employees to the issue of safety in their work- end January 10.66 place, and even more so on site. An initial ac- end February 10.56 tion plan was launched in 2007, promoting the end March 10.33 pleasure and pride of working on a safe site. end April 9.21

end May 8.97 This year, the department has introduced a new tool aimed at ensuring a standardized end June 8.43 and effective approach towards communicat- end July 7.67 ing the key health, safety and environmental end August 7.29 issues on a construction site. end September 7.59

end October 7.16 The HSE department organizes site safety end November 7.05 induction briefings for both the Group’s own personnel as well as that of the end December 6.77 subcontractors. The site safety induction programme covers 0 2 4 6 8 10 12 all key subjects, such as: HSE policy, details 1 Number of calendar days of incapacity following an occupational accident, of the project, roles and responsibilities, com- not counting the day of the accident (except for an accident on the way to work) petences and disciplinary procedure, hazards and risks, work permits, internal management, Level of seriousness of work accidents the environment, personal protection equip- (number of days incapacity per thousand hours worked) ment, safety signage, accidents and injuries, emergency procedure and incident reporting. end January 0.22 It is set up in a modular manner so to allow end February 0.19 a project team to tailor the package to their end March 0.17 specific needs. end April 0.18

end May 0.17 With the launch of its new briefing kit, the HSE 0.16 department intends to provide a more effec- end June tive communication tool with local tailored end July 0.15 and relevant information so that all the people end August 0.14 working on the site gain a more robust under- end September 0.13 standing of why safety also matters to them end October 0.14 and their work mates. end November 0.13

end December 0.13

0 0.05 0.1 0.15 0.2 0.25 18 Corporate info

Safety in the group: • At the level of each subsidiary: by putting in place numbers and human beings the expertise and the means for ensuring the best possible accident prevention tools and processes. The HSE department and the Group as a whole wish • At employee level: by continually raising the level to emphasize that behind the HSE statistics there are of risk awareness by working towards a culture real people with families. Therefore the ultimate goal in which employees look after their own safety as of ‘zero accidents’ is the only one that is acceptable. well as the safety of their colleagues. Safety is everyone’s responsibility. In 2008, the majority of the companies in the Group obtained better results than the average for our sec- Environment, raising awareness tor in terms of accident frequency rates. As far as from the start the accident severity rate is concerned, the average remains identical to 2007. Prevention therefore re- The BESIX Group is aware of its surrounding en- mains the focus of the HSE department. vironment and is conscious of the impact of its operational activities. BESIX will continue with imple- In view of the realities on the ground, the HSE de- menting various initiatives relating to environmental partment carefully identifies the system failures that protection as it will continue to further raise the envi- have made it possible for an accident to happen. ronmental awareness of its employees. Next step is to identify SMART (Specific, Measurable, Achievable, Relevant and Time-bound) corrective ac- Faced with this general reality, the HSE department tions to fix the HSE management system failures. has developed a number of specific projects targeted at reducing the companies eco footprint. In par- Prevention is applied at three levels within the Group: ticular, it has given its employees practical solutions • At the BESIX Group level: by harmonizing the pre- for reducing paper consumption and for recycling. vention policies and objectives and encouraging It also has offered eco-driving courses for company synergies between the Group companies. car drivers and for high mileage drivers.

At the majority of its construction sites BESIX has implemented a system of segregated waste collection and disposal with the aim of recycling a significant 1 part of the total waste streams generated during the execution phase of a construction project.

“Increasing safety through personalized

actions on site.” 2 Human Resources 19

1 / 2 Emergency drill, Human Resources Ferrari experience, Abu Dhabi – U.A.E. Architect: M/s Benoy Together to change the world 3 Maastoren, Rotterdam – The Netherlands Architect: Dam & Partners

In times of changes and economical 3 crisis, leadership and innovation become critical to sustain growth and operational excellence. The Human Resources Department supports and develops the necessary programmes to face and overcome these new challenges.

As one of the leading employers in Belgium, the BESIX Group is aware that its employees and workmen are the ‘cement’ of its activities. It is prominent to develop personal growth and potential of its staff in order to reach its future objectives. Leadership, a critical skill

“The Human Resources Department has developed new programmes to make sure that we identify, train and guide our new and potential leaders” says Geert Aelbrecht, Group Human Resources Director, BESIX Group. Leadership has always been crucial in the development of the Group. Without employees that dare to take risks, show entrepreneurship and motivate others, the BESIX Group wouldn’t be able to sustain its development. HR programmes such as the General Management Training in co-operation with the Management School of the University of Antwerp shows the progress that the company is making. Imagine you could change the world... “Finding the right, motivated people to Aware of the importance of e-media and Internet in the recruitment sector, the BESIX Group has support the impressive decided to invest in e-tools to respond better to growth of recent candidates’ expectations. years is indeed an ambitious challenge for For the BESIX Group its vital task is convincing both young and more experienced colleagues the BESIX Group HR to join it in ‘Changing the World’. A young-look department in 2008.” website fully matches its other ad campaigns in 20 Corporate info

BESIX Group +20,000 employees

magazines and on job sites. “Attracting the right tal- The BESIX Group remains focused on ensuring ent in a world of the young ‘information’ generation, the diversity of its selection process and, through requires a different approach”, explains G. Aelbrecht. policy setting and application avoids excluding Dynamic approaches with videos, use of social any category of applicants. This approach is still software such as Facebook, are only some of the in phase with the Diversity Charter that the Group innovations. signed in 2005. Updating our reward practices

1 At the end of 2008, BESIX Group received the certificate of ‘Top Employer to work for’ for the 4th time. This award is made by the organization, CRF (Corporate Research Foundation).

BESIX Group is dedicated to reviewing and re- warding its policies in order to be in line with market practice and ensure overall compliance. “In 2008 we introduced the collective bonus”, says Geert Aelbrecht, which grants all employees a performance bonus based on the performance of the BESIX Group result. “This allows us to reward the employees as a team, working together for the same target.” Global synergy, local application

The international dimension of the Group gives a multitude of opportunities and challenges. “Aligning best practices across the Group via policy setting and specially developed IT tools allows us to better serve the employee and the business”, clarifies Geert Aelbrecht.

The HR policies have been aligned on specific topics, such as training & development, car policies, bonus practices, but we also guarantee the flexibility of the regional and international Group companies to apply specific practices adapted to the local needs. Human Resources 21

3 1 / 2 Engineering Department, Brussels – Belgium

3 Maastoren, Rotterdam – The Netherlands Architect: Dam & Partners

“Informing staff in a dedicated way is crucial to ensuring involvement and motivation”, says Geert Aelbrecht.

Training and guidance Open Communication is a value as anchor points BESIX Group HR Department underlines its continu- The BESIX Group puts a lot of emphasis on the ing effort in communicating with staff on strategy, competence building of workers and employees. organization and new ventures. Both for the workers – for example special technical schools have been developed in the Middle East A multitude of communication moments and means region – and for employees, the creation of improved have been put in place, such as the Welcome Day skills and competence becomes critical for the on- for new employees, social events, an Intranet and a going success of the company. yearly Management Meeting.

“With the emerging crisis, the individual impact of The BESIX Group works daily to increase interaction each employee is growing”, reflects Geert Aelbrecht, and dialogue with its employees and workmen. Well- “thus having qualified staff on every level, will cre- being at work is a key to creating successful involve- ate the competitive advantage on different fronts ment and participation in Group activities. such as innovation, team building and operational excellence.”

The BESIX Group has invested in an increase and updating of training courses for employees and workers. 22 Corporate info

Engineering, Materials and Structures Building is the controlled conversion of materials into structures

1 The building process calls for a thorough knowledge of materials: not only their strength, rigidity and durability, but also produceability and processability, along with their economic and ecological aspects. Structures require attention to aesthetics, stability and comfort, constructability, maintenance and design life, together with the structure’s environmental impact.

Engineering is the part of the building process in which the conversion of materials to structures is supported by knowledge and insight, calculation methods and models, creativity and engineering judgement. This explains the influence that Engineering has on a project’s quality, sustainability, conformity and environmental impact.

Through inventive design, materials are converted into buildable structures, which meet the client’s functional and economic requirements as far as possible. But there are community needs also to be met: first those having an immediate impact (strength, safety, comfort) and then more forward-looking needs (durability, sustainability, environmental impact).

In this way engineering is not an autonomous step in the building process, but part of the entire project life cycle, with consideration given not only to the cost of erecting the building, but that of maintaining it over its entire life. More than that, the indirect costs that will be borne by the community, such as infrastructure and environmental costs, and which will bear on subsequent generations, need to be taken into account and optimized during the engineering process. This is feasible, because at BESIX, Engineering is fully integrated into the building process, using modern tools like Systems Engineering. Engineering, Materials and Structures 23

1 / 2 / 3 Engineering Department, BESIX Group Brussels – Belgium +3,400 engineers & TECHNICIANS

Converting materials When it comes to natural materials, in particular soil into structures... materials, BESIX continues to cooperate actively in ISSMGE (International Society for Soil Mechanics Engineering is continuing its efforts to better manage and Geotechnical Engineering), by chairing the man-made concrete. Belgian Grouping and as a Core Member of JTC4: Professional Practice. First and foremost by having members of the Engineering department actively cooperate in na- Active contact is also maintained with the academic tional and international working groups and technical world: four engineers from the Engineering depart- committees, like the Belgian Standards Commission, ment lecture at Belgian universities. This provides the SCC (Self Compacting Concrete) Commission BESIX with an easy way of keeping its finger on the and the IABSE (International Association for Bridge pulse of current research, and enabling Engineering and Structural Engineering) Working Commission 2. to remain a powerful means of support to the build- The BESIX internal knowledge centre for concrete ing process and offering even better solutions to technology is also being further extended. its clients.

3 24 2

1 1925 Group organization 25

1 Port, Valencia – Spain

2 LNG jetty, South Hook – United Kingdom

3 / 4 Maastoren, Rotterdam – The Netherlands Architect: Dam & Partners Group organization

Group Structure Business Units

Contracting 3 Construction Construction Middle East Contracting New Developments Regional Affiliates

Real Estate Concessions

4 26 Group organization

Group Structure

Corporate Services Johan Beerlandt

Contracting Regional Real Estate Concessions Philippe Quoilin Affiliates Jean-Jacques Delens Werner Dekkers

Construction Vanhout BESIX Real Estate Ajman Sewage Geel Development Project Construction Brussels 50% Middle East Wust SGT Malmedy Coentunnel Contracting Luxembourg Amsterdam New Developments 18% Jacques Delens … Brussels Abu Dhabi WWTP 20% Cobelba Naninne Marriott Evere, Brussels Lux TP 50% Luxembourg Sheraton Brussels 29% Group Structure 27

Contracting

Construction Contracting Construction Middle East New Developments

Large Buildings Six Construct BESIX Sanotec Environmental Civil works Qatar Benelux-France Socogetra Roads Civil Works Aldar-BESIX International Franki Foundations Group Belgium Marine Works Foundations

BESIX Vlaanderen

BESIX Nederland

International subsidiaries

Morocco Cameroon 28 Group organization

Business Units

BESIX Group reviewed its organizational Contracting structure in order to meet its new is responsible for construction and its related objectives, as well as local and world resources with a view to establishing synergies market requirements. between its constituent divisions: Construction, Construction Middle East and Contracting The Group now comprises three principal New Developments. business units. Synergies have been developed between BESIX and the regional Group companies. The Group is present in 17 countries through projects in various fields of construction. The Middle East, and in particular Dubai, Abu Dhabi (United Arab Emirates) and Doha (Qatar), has experienced impressive growth.

Real Estate Through this business unit, the Group can promote residential, office and commercial projects.

The property Business unit is represented by BESIX Real Estate Development (BESIX R.E.D.) The growth announced for 2008 was mainly achieved from the development of office and housing projects. BESIX R.E.D. has also continued its activities in the field of community facilities for very young children.

Concessions Concessions, the most recent of the Group’s areas of activity, confirmed its growth in 2008. The Group’s wish to provide a total solution to its clients is becoming reality. The Group can design, finance, manage and maintain infrastructure or civil engineering structures.

This business unit develops synergies between the companies of the Group. Business Units 29

1 1 Fairmont Hotel, Cairo – Egypt Architect: At. Art Urbain

2 Building ‘Parc de la Montagne’, Jambes – Belgium Architect: Sogetec

3 Water treatment plant, Ajman – U.A.E.

3 30 Group organization Business Units

1 1976

2 Contracting 31

Contracting A reference player in the building construction sector

In order to position itself even more “The idea behind the creation of the ‘Contracting’ 1 Astro Tower, professionally in a constantly evolving business unit is to create a clear organizational Brussels – Belgium sector, the BESIX Group has radically structure that can bring together competences and 2 reviewed its structure. Applying a double resources, to put in place a group of construction Burj Dubai Tower ‘by product’ and ‘by region’ approach, companies which is able to confront a rapidly de- U.A.E. Architect: Skidmore the Group is looking to better target its veloping market and permit the deployment of new Owings & Merrill Ltd

markets, strengthen its cost/benefits activities”, says Jules Janssen, General Manager, 3 approach and offer its clients real BESIX Construction. Qipco Tower, Doha – Qatar added value. Architect: Siath

“We have an engineering and methods office and active talents on both the international and domestic markets. In the international arena we have acquired particular competences in large buildings, infrastructures, marine works etc. This know-how needs to be mobile and to ‘percolate’ through all the Group’s activities. We need to introduce a structure that can enable us to benefit from these cross-divisional effects”, explains Philippe Quoilin, Chief Operating Officer, BESIX Contracting.

The objective is to offer clients a complete and systematized package of services, on the domestic market and also internationally and in the Middle East.

This ‘Contracting’ business unit brings together, under a single roof, three main divisions: • the Construction division • the Construction Middle East division and • the Contracting New Developments division

3 32 Group organization Business Units Contracting Construction

›› Construction Regrouping our skills

The ‘Construction’ division is responsible for all of BESIX’s construction activities at the international level, excluding the Middle East and the Belgian regional affiliates. This includes the civil engineering activities in Benelux-France, the international civil engineering activities, the marine works and large buildings.

Designing, building and renovating buildings and infrastructures of every size and level of complexity are part of the BESIX Group’s daily work. The Group adapts its know-how to its clients’ original requirements (public and private) in practically all fields of building construction, and looks for novel technolo- gies with which to provide tailored solutions.

The expertise of its various competences enables it to propose innovative solutions which offer high added value. The Group has its own engineering office which is able to examine ‘design & build’ projects in detail. Such performance can offer clients interesting alternatives, particularly in terms of cost.

1 Large Buildings 33

Large Buildings 1 / 4 3 Maastoren, Rotterdam – The Netherlands Architect: Dam & Partners

Multiple competences 2 LNG jetty, South Hook – United The dedicated ‘Big Buildings’ division negotiates Kingdom contracts and is responsible for the Construction 3 of large, complex buildings at international level New Orleans, Rotterdam – The Netherlands (except for the Middle East). Architect: Alvaro Siza

The BESIX Group has special competences in high- rise construction. As soon as a project reaches a dimension or a degree of complexity which calls for particular skills, the Group brings in experienced, expert managers able to manage the project in a Expertise in tower blocks more flexible and global fashion. Construction of two high-rise towers: the As a general construction company, the Group’s Maastoren (165 m) and the New Orleans (158 m) skills and know-how extend to every kind of building: (BESIX / Rotterdam, The Netherlands). offices, hospitals, dwellings, industrial buildings, infrastructures, mixed projects, etc.

A new icon for Rotterdam 4

On 25 October 2008 the Maastoren project was declared 2008 Site of the Year (‘Bouwput van het jaar 2008’) by the municipality of Rotterdam.

Maastoren 165 m HIGH 34 Group organization Business Units Contracting Construction

Strong presence in the office sector

• Construction of buildings D4-D5 of the European Parliament complex (BESIX, Jacques Delens, BESIX R.E.D. – in joint venture / Brussels, Belgium).

• Restructuring of the Fortis Chancellerie offices complex (BESIX / Brussels, Belgium).

2 • Office development for Wyeth Pharmaceuticals Belgium (BESIX, BESIX R.E.D., Louvain-la-Neuve, Belgium). This complex is designed with a special eye to environmentally-friendly technology.

• ‘Design & Build’ project delivered in 2008: Hotel complexes, a specialty Schiecentrale, a multi-functional complex with an original architectural style. This ‘design and • Mazagan Resort is a ‘top of the range’ tourist build’ project covers a total surface area of complex inspired by traditional Moroccan approximately 40,000 m². architecture (BESIX-SOMAGEC in joint venture / El Jadida, Morocco). • Presidential pavilion (BESIX / Douala, Cameroon). • Fairmont Hotel and ‘Fairmont Nile City Cairo’ (BESIX, Orascom Construction Industries / Cairo, Egypt).

Schiecentrale Wyeth Pharmaceuticals Belgium Rotterdam, the Netherlands Louvain-la-Neuve, belgium 40,000m² +8,000m² surface area surface area

3 Large Buildings 35

1 Schiecentrale, Rotterdam – The Netherlands Fairmont Nile City Cairo, on the baks of the Nile Architect: DHV

2 The BESIX Group, in joint venture, is now working on the final stage of the Cairo F‘ airmont Building D4-D5, ’. This hotel is part of the wider ‘Fairmont Nile City Cairo’ real estate complex. In ad- ,European Parliament, Hotel Brussels – Belgium dition to the ‘Fairmont Hotel‘, this 255,000 m² multifunctional development includes two 3 142 m office towers, and three podium levels for cinemas, offices and shops. The four un- Wyeth office building, derground levels house the parking areas and technical facilities (64,000 m²). The ‘Fairmont Louvain-La-Neuve – Belgium Nile City Cairo’ offers a surface area of 55,000 m². In November 2009, this 5-star hotel will 4 Fairmont Hotel, be operational and the Nile City Project will be totally finished, 11 years after its inception. Cairo – Egypt Architect: At. Art Urbain Still in Cairo, the BESIX and ORASCOM joint venture has begun civil engineering work on the foundations of a major multifunctional complex with three 100 m towers on the edge of the Nile Corniche.

Fairmont Nile City Cairo 255,000m² surface area

4 36 Group organization Business Units Contracting Construction

Know-how in building and Builder of school and renovating cultural complexes university complexes

• Renovation of the Congress Palace Educational and training complexes have always (BESIX, Jacques Delens, in joint venture / been a subject of particular attention. Brussels, Belgium). • Building of the Arteveldehogeschool higher • Renovation of the Theatre Capitole educational institute with a car park on the (BESIX / Ghent, Belgium). Kantienberg Campus (BESIX / Ghent, Belgium).

• Renovation and restructuring of the Het Added value in hospital renovation Hoekhuis centre (BESIX / Kortrijk, Belgium). and the construction of leading edge medical facilities

The BESIX Group has solid experience in the construction and renovation of buildings for health care institutions.

• New building and car park for the ISPPC Lodelinsart Hospital (BESIX / Charleroi, Belgium).

• Construction of buildings for the Protontherapy Centre for the Institut Marie Curie (BESIX / Paris, France).

1 Large Buildings 37

1 Arteveldehogeschool, Ghent – Belgium Square Brussels Meeting Centre, Architect: Jo Crepain an essential part of the capital of Europe 2 Protontherapy Centre, A complete facelift for 3 Paris – France Architect: GREISCH a beacon project, the 3 / 4 Brussels Congress Square Brussels Palace. This exceptional Meeting Centre, Brussels – Belgium renovation project is be- Architect: A2RC ing undertaken by BESIX and Jacques Delens in joint venture. A good example of integration and synergy between the two Group companies, the project will totally transform the complex. Access will be via a 15 m high, 15 m square glass cube inspired by the Louvre pyramid. This central element, the sole element visible from the outside once the project is complete, will serve as both entrance and shop window. The ‘Square Brussels Meeting Centre’ will include 3 auditoria, seating 1200, 500 and 250 to 300 people respectively, a 4000 m², 5.5 m high multifunctional exhibition area, and some twenty meeting rooms in the adjacent buildings. All in all, the new Palace will offer 35,000 m² of buildings and 15,000 m² of parking space, giving a total surface area of ± 50,000 m².

“Just like the Atomium, this site is a display case of our BESIX Group know-how in complex renovation”, says Marc Joway, Managing Director of Entreprises Jacques Delens.

SQUARE BRUSSELS MEETING CENTRE 35,000m² CONGRESS FACILITIES

4 38 Schiecentrale, Rotterdam, The Netherlands

Rotterdam: the Multifunctional Schiecentrale Building

In the Lloyds district, bounded by the Phase 4B Nieuwe Maas, the Schiehaven and the Parkhaven, and next to the Park with For phase 4B a part of the existing power sta- the Euromast, BESIX is working on the tion was demolished and the municipality had the final extension stage of the Schiecentrale site made ready for rebuilding. This multifunctional project (Phase 4B). building includes a split-level parking garage with 420 parking spaces, 20 wharf-flats of around 120 m² In 1906, the GEB electricity power station was each on 3 floors with parking boxes, 6,000 m² of of- delivered. In 2006, exactly 100 years later, the fices, 16,500 m² of living/working units (freely divida- Schiecentrale received a new lease of life. Where ble spaces), a gym + canteen on 2 floors, a 2,000 m² once turbines and boilers supplied Rotterdam with supermarket, and a 2,000 m² promenade deck on electricity, artists, actors, film makers and TV pro- level +4, linking the various functions. ducers now live and work. Project Highlight 39

Rotterdam: the Multifunctional Schiecentrale Building

Specific challenges in this project included:

• Decision-making process with 3 clients needing to reach consensus on every detail. • The very specific materials specifications of various façade sections, including new developments like stainless steel gauze (5,000 m²), polyester storage boxes (99 in all), sandwich panels with marble pebble-dashing (2,000 m²). • More than 5,000 m² of glass façade, of which 10% with large outside-turning harmonica façades. • Strict technical installation specifications to meet EPC (Energy Performance Coefficient) standards. • Protruding floor parts with pre-stressing steel cords, bridge construction of 2nd stress path, beams with heavy thermal bridge interruption, etc.

Schiecentrale 5,000m² stainless steel gauze

BESIX was responsible for the entire design work “The project was a real challenge! This from pre-design to final delivery, including obtaining is the first Design & Build project in the the building permit. Netherlands with three clients: Proper Stok, Patrimonium Woningstichting and Ontwikkelingsbedrijf Rotterdam”, says Project Manager Bjorn Walgraeve. 40 Group organization Business Units Contracting Construction

Civil Works Benelux-France

1 Solid experience in complex infrastructure works

Infrastructure design and building is a strong point of the Group which has won its spurs through taking part in numerous projects of varying size and at times considerable complexity.

The BESIX Group wants to develop a clear profile in the civil engineering segment as a provider of real added value. Its ‘Civil Works’ department both negotiates and undertakes relatively large-scale civil engineering works in Belgium, the Netherlands, France and the Grand Duchy of Luxembourg.

• Aalter Tunnel carrying the N44 towards the Belgian coast (BESIX / Aalter, Belgium). • 2,810 place underground parking garage at Gent-Sint-Pieters railway station (BESIX / Ghent, Belgium). • Noorderlaanbrug bridge over the Albert Canal (BESIX, in joint venture / Antwerp, Belgium). • Haarrijn A2 motorway project (BESIX, in joint venture / Utrecht, The Netherlands). • DoDoTunnel (BESIX, in joint venture / Utrecht, The Netherlands).

2 Civil Works Benelux-France 41

1 / 2 Underground parking garage at Gent-Sint-Pieters railway station, Ghent – Belgium

3 Highway intersection A50/A58 Ekkersrijt, Eindhoven – The Netherlands

4 Tunnel, Aalter – Belgium

5 DoDo Tunnel, Utrecht – The Netherlands

4 • A50/A58 highway intersection at Ekkersrijt • Perron Tunnel (BESIX, in joint venture / Arnhem, (BESIX, in joint venture / Eindhoven, The Netherlands). The Netherlands). • Coentunnel, operated under a DBFM (Design, • Kosmos infrastructure maintenance contract Build, Finance & Maintain) contract (BESIX, under (BESIX, The Netherlands). the concession company Coentunnel Company / Amsterdam, The Netherlands).

DoDo, the first overland tunnel in the Netherlands

The DoDo tunnel is a very unusual piece of civil engineering. In fact it is an ‘overland tunnel’, one of the first of its kind in the Netherlands, which will ‘box in’ the A2 motorway close to Utrecht. In mid-2010 the western part of the tunnel will be open to traffic in the Amsterdam-Utrecht direction. At the end of 2010, the western part will also be brought into service in the Utrecht-Amsterdam direction. The old A2 motorway will then be demolished to make way for housing. Completing a project of such a scale in such a limited period of time is a real challenge. The project will make it possible to channel the major traffic flows between Amsterdam and Utrecht on to two five-line carriageways. Another innovation is the concern for safety by using concrete offering additional fire-resistance.

DODO Tunnel 5 4x1,650 m SHAFTS 42 Biodiesel projects at Sluiskil (The Netherlands) and Verdun (France)

BESIX, a Partner of Choice in Bioenergies

Bionenergies are being increasingly From the Netherlands... viewed as serious alternatives to traditional energies. Biodiesel is one alternative Attentive to the environment in which it evolves, solution to traditional fossil fuels. BESIX BESIX has produced three new biodiesel produc- is present in this promising market and tion units on its domestic market, undertaking the is profiling itself as a preferred partner of civil engineering work for these new plants in the refinery builders in this field. Netherlands and in France.

1 Project Highlight 43

BESIX, a Partner of Choice in Bioenergies

The first unit is 250,000 tonnes/year biodiesel plant 1 / 3 in Rotterdam’s second oil port. The second is at Biodiesel unit, Sluiskil Sluiskil, Rotterdam – , between Zelzate and Terneuzen. For both The Netherlands Sluiskil Rotterdam, the netherlands projects, BESIX did the pile driving, laid the founda- 2 tions for the tanks and machinery, built the load- Biodiesel unit, Verdun – France bearing walls, took care of the roadlaying and ancil- 250,000t lary work, and erected the buildings. a year

“As is often the case with industrial projects, very strict planning was an absolute must for the client. The complete project had to be finished in under a year and a half. In mid-2007 we started work on a bare piece of land, knowing the site had to be in production by Christmas 2008. Today the installation is fully operational, with biodiesel running through the pipes. This was facilitated by good cooperation on the ground between the various disciplines and an excellent relationship with the client, which helped work proceed extremely smoothly despite the complexity”, says Project Manager Waldo Vanhentenrijk.

verdun france 3

230,000t ... to France ANNUAL CAPACITY BESIX is taking part in the re-equipping of what will soon be France’s second biodiesel production site at Verdun. This project will double capacity to 230,000 tonnes of biodiesel a year, produced mainly from rape seed. Particular attention has been paid, in this project, to the global ecological balance of the process.

This project, in which BESIX partners with Lux TP, also highlights the effectiveness of synergies between Group companies.

2 44 Group organization Business Units Contracting Construction

Civil Works International

Exporting BESIX expertise around the world

A new ‘Civil Works International’ department has been created in order to export the Group’s key civil engineering skills (bridges, tunnels) around the world, and in particular into new regions. This department specializes in medium scale projects which offer real added value.

• Two-storey semi-buried parking garage (570 places) under a new football pitch with accommodation for 1,600 spectators (a DBFM contract, BESIX in joint venture / Alassio, Italy). • Flood water evacuation on the Edea hydroelectric dam (BESIX / Edea, Cameroon).

Flood water evacuation on the hydroelectric dam, Edea, Cameroon 2,500m³/s

1 Civil Works International 45

1 Flood water evacuation, Edea – Cameroon • Twin bridges (BESIX / Timbabe, Equatorial • Phases 1 & 2 of the new Georges Besse II 2 Guinea) (cf. Project Highlight, p. 48). uranium enrichment plant (BESIX / Bridges, • Three bridges (BESIX / Riaba, Equatorial Guinea) Pierrelatte, France). Riaba – Equatorial Guinea (cf. Project Highlight, p. 49). • Desalination plant (Six Construct, in joint 3 Power station, venture with OCI (Orascom Construction St-Avold – France Industrial building, Industries) / Hamma, Algeria). 4 a strengthening segment • New cement factory (BESIX / Douala, New cement factory, Cameroon). Douala – Cameroon BESIX is keen to make a name for itself in the new and promising market segment of industrial 4 construction, and more particularly that of electricity power stations.

• Gas compression station (BESIX / Zelzate, Belgium). • Extensions of 4 oil terminal infrastructures (BESIX / Antwerp, Belgium). • Biodiesel infrastructure projects (BESIX / Sluiskil & Rotterdam, The Netherlands) (cf. Project Highlight, p. 42-43). • A biodiesel production unit is under construction (BESIX / Verdun, France). • Power station (BESIX / Pont-sur-Sambre, France). • Power station (BESIX / St-Avold, France).

3 46 Group organization Business Units Contracting Construction

United Readymix, delivering of readymix concrete

BESIX and Six Construct, in joint venture with the Qatari enterprise United Development Company (UDC), have set up this production unit mainly in order to supply concrete to the ‘Pearl of Qatar’ artificial island project. It also serves to supply the other Qatari building sites.

United Readymix Doha, Qatar 1,000,000m³ of cement a year Civil Works International 47

“We needed to plan our work within a very tight 1 / 2 United Readymix, Gas-steam combined cycle time frame and often within a very small working Doha – Qatar power stations, a new niche space. Efficient management and a strong team 3 spirit enabled us to work effectively at this site”, Power station, BESIX is profiling itself as a key player in explains Project Manager Ludo Nuyts. Pont-sur-Sambre – France this new market niche of combined cycle gas-fired power stations. An initial contract for the power station at Pont-sur-Sambre was followed by two gas-steam combined cycle power plants at St Avold. On its Carling site, SNET1 has decided to invest in France’s largest construction project for gas-fired electricity production units. Two new combined gas cycles, of 430 MW each, will take the Emile Huchet power station from the all-coal era to that of gas. The new plant will emit less CO2, consume three times less water, and at the same time operate at a higher efficiency level than the coal thermal sets (57% as against 37 to 40%).

power station Pont-sur-Sambre, France 2x430MW

3 48 Timbabe bridges, Equatorial Guinea Project Highlight

1 Road Traffic Bypass

With the rapid economic growth the is encased into a 23 m abutment-counterweight, country has experienced ever since cast 13 m into the ground on site. Structural stability exploitation of its oil resources began in is provided by the counterweight effect of technical 1997, the capital city, Malabo, has needed backfill at the rear of the abutment. to review its road network. The main challenges were first of all the training It was particularly important for traffic from the and supervising of the local workforce, and then airport to be able to bypass the city. This new introducing and maintaining high quality standards. highway links the airport with the cities of Malabo, Particularly remarkable was the consistent quality of Riaba and Luba, whilst reducing traffic inside the the high resistance concrete produced for the site city. This project also constitutes the central axis of (compression resistance of the B40 concrete still a new city – Malabo II – which is the dream of the above 55 MPa at 28 days, with a very low deviation country’s president. For this new road BESIX has of 3 MPa...) built twin bridges over the Timbabe river close to the international airport, at the heart of Malabo II. “Our client, the Government of Equatorial Guinea, was very satisfied and impressed with the high These two parallel bridges, 134 m long and around technical level and the quality of the work supplied 30 m apart, each carry three traffic lanes. by BESIX, calling our engineers a team of real magicians...”, Xavier Debruche, Project Manager. Each bridge consists of two ‘pre-stressed segment’ half beams, 45 m long, cantilevered out in successive sections, articulated at the centre of the bridge, and built by mobile teams. Each half-beam Riaba bridges, Equatorial Guinea Project Highlight 49

On the Road to Riaba

BESIX GE has also built three pre- stressed reinforced concrete bridges Specific pillars for each bridge close to the city of Riaba on the national highway 35 km south of the capital After defining the routing based on a detailed Malabo. These replace the structures left topographic study, the team established the over from Spanish colonial days, which no lay-out and the final lengths of the bridges longer meet safety standards and are set (185 m, 139 m and 192 m) in mid-2007, in back from the line of the new road. consultation with the Greisch engineering department. Each bridge has two pillars – Building the bridges was a difficult task, given the the tallest of which is nearly 50 m high – and physical relief of the region. For this reason BESIX two abutments, and is cantilevered out from brought in climbing formwork and mobile teams. the piles. The deck is reinforced with post-tensioned cables. The foundations rest on micropiles of up to 75 m in RIABA BRIDGES length in very steep valleys. riaba, Equatorial Guinea

The three bridges, spread over a distance of 5 km, are respectively 192, 130 and 181 metres long. 94m The longest main span

Micropiles, the key solution to this project

RIABA BRIDGES The technology used for the foundations takes into riaba, Equatorial Guinea account the very varied and complex ground structure. The structures are planted in narrow valleys and on an island of volcanic origin. “Following an 59m advanced geotechnical exploration optimized by the The tallest pile work-site, with the help of the BESIX Engineering department in Brussels, the team decided to use drilled-reinforced micropiles. These are micropiles, often under 30 cm in diameter, which are used in specific cases, as for this project”, explains Project Manager Adrien Theunissen.

“For the first bridge, it was decided to use a total of 190 vertical piles (71 per pillar and 24 per abutment), each 30 m long and with a carrying strength of around 100 tonnes. To compensate the horizontal constraints and the torsion generated by wind, tem- perature and creep, seventy 25 m long inclined piles were also installed (22 per pillar and 13 per abut-

3 ment)”, explains Technical Manager François Guiot. 50 Group organization Business Units Contracting Construction

Marine Works

The BESIX Group has built up a solid reputation for marine works – jetties, quay walls and the like – in Belgium and abroad.

Reconciling technical performance and respect for the environment

The Marine Works department negotiates the contracts and is responsible for offshore work worldwide and for protected port works (except for Benelux-France and the Middle East).

• Extension and renovation of three locks in Dutch Limburg (BESIX in joint venture / Born, Maasbracht and Heel, The Netherlands). • LNG jetty (BESIX, in joint venture / South Hook, United Kingdom). • Quay wall, Port of Tangier (BESIX, in joint venture / Tangier, Morocco). • 416 m long jetty (BESIX, in joint venture with Orascom Construction Industries / Sokhna, Egypt). • Extension of the existing quay wall, with port infrastructures for the new aluminium smelter under construction, Alutrint (BESIX, in joint venture / Trinidad and Tobago).

Lng jetty, Sokhna – Egypt 416 m long

2 Marine Works 51

1 Locks, Maasbracht – The Netherlands

2 South Hook LNG jetty LNG Jetty, Sokhna – Egypt This complex project involved a renovation 3 / 4 LNG Jetty, and demolition phase and a reconstruction 4 South Hook – phase. The jetty now docks the large LNG United Kingdom tankers which bring in gas from Qatar. Some 20% of gas consumed in the UK arrives in this way.

The teams were required to respect strict environmental standards aimed at protecting the seabed. 52 Port of Tangier, Morocco

Port of Tangier: Quay Wall, an Original Alternative

BESIX has approached the Moroccan A tailor-made solution market, not with tourist projects, but marine engineering, in the form of development After listening to the client’s wishes, BESIX always work at the Port of Tanger Med. looks for attractive alternatives. This time, the internal engineering department came up with an alternative This gigantic project, initiated by H.M. King consisting of solid concrete block walls. A solution Mohamed VI, aims to develop Morocco’s entire that offered real added value! northern coast, turning it into a first class logistics area, taking advantage of its location on the Strait “This technical option offered many advantages of Gibraltar. In the longer term, Tanger Med will be- over traditional caisson walling, in particular in terms come one of Africa’s largest ports. of price”, explains Project Director Félix Warny. In partnership with Somagec, Morocco’s number 1 construction group, BESIX created the B6SOMA company, which is carrying out the work.

port of tangier morocco 1. 3 m io m³ of dredging at depths of -30 m Project Highlight 53

Port of Tangier: Quay Wall, an Original Alternative

port of tangier port of tangier morocco morocco 2.7 mio t 10,000 OF ROCK concrete BLOCKS UP TO 80 T IN WEIGHT

The project includes various mooring works. “These a very short timeframe”, explains Project Manager include 1,660 m of quay wall for container berthing, Andres Penaloza. with a draught of between -16 and -18 m, and 315 m of service quays with a draft of -6 m, which By offering technical and logistics solutions adapted adds up to some 2,000 m of quay wall. The contract to each of these three zones, B6SOMA managed also includes protective works (spoil banks)”, says to include this additional order in the TMSA pro- Alain Lobet, Operations & Support Services. The cli- gramme, enabling the terminals to open on the origi- ent is TMSA, the agency tasked with building and nally scheduled dates. operating the port of Tanger Med. “The success of this project is due to the quality of “The container quay consists of around 10,000 the teams taking part, in Tangier and in Brussels. concrete blocks, each ± 11 m long, 2 m high and BESIX’s know-how was used to the full, through 1.65 m wide. Given the site’s high seismic risk, the close cooperation between our engineering de- Brussels engineering department, in charge of the partment, our equipment department and our site design work, gave the wall its particular diabolo teams.” The latter did a remarkable job. “Given the shape. The region is in fact very earthquake prone, unexpected hitches, the pressure was on during the (seismic zone 3, or maximum sensitivity)”, comments whole three years, from when we started the com- Project Director Félix Warny. pany in March 2005 through to provisional delivery in April 2008, but our site staff rose to the challenge”, This already very large project became even larger concludes A. Penaloza. as work progressed. “We discovered very bad soil conditions in three zones on the line of the container quay, requiring major dredging works. Even if this lay outside the original contract, BESIX offered its experience, enabling the client to remedy this situation in 54 Group organization Business Units Contracting Construction

BESIX

1 BESIX brings together BESIX Vlaanderen, BESIX Nederland and BESIX France. BESIX Vlaanderen

In just 4 years, BESIX Vlaanderen (BESIX Flanders) has grown into a major player on the Belgian market. All this is organized from the office in Ghent, which strengthens this clearly Flemish anchoring.

BESIX Vlaanderen builds small and medium-sized buildings and undertakes civil engineering work in Flanders and Brussels. Its strength lies in filling the need in the Flemish market for a large contractor focusing on large and complex projects in both civil engineering and general construction. Meanwhile, it has built itself a solid reputation in almost all major disciplines of the construction industry, guaranteeing stable and profitable sales in what is an extremely competitive market.

Current BESIX Vlaanderen projects include: • The renovation of the AXA buildings at Berchem (BESIX, in joint venture / Antwerp, Belgium) • The renovation of Fortis Chancellerie (BESIX / Brussels, Belgium) • The Arteveldehogeschool complex (21,000 m²) (BESIX / Ghent, Belgium). This project includes a 12-storey tower rising up 50 metres above Ghent. • Tunnel (BESIX / Aalter, Belgium) • Parking garage (3 underground floors in a 400 x 90 metre excavation) (BESIX / Ghent, Belgium)

BESIX Vlaanderen has a multi-disciplinary and lo-

2 cal presence. New initiatives are constantly being launched, including PPP projects (Aalst station surrounds – 45,000 m²) and real estate develop- Fortis Chancellerie ments (Leskoo Oudenaarde – 170 apartments). Brussels, Belgium But perhaps more important of all, the foundations have been laid for strategic partnerships to ensure continuity in major projects. “BESIX Vlaanderen is 75,000m² structured to meet the demanding market condi- TOTAL AREA tions through its focus on results”, says Karel Vermeersch, Manager – BESIX Vlaanderen. BESIX Vlaanderen, BESIX Nederland and BESIX France 55

Van Britsom & Verheye 1 Stalhille mobile bridge, Van Britsom & Verheye operates as a general con- Bruges-Ostend canal – tractor in the fields of water and dredging works, civil Belgium engineering etc. As a subsidiary of BESIX Vlaanderen, 2 Fortis Chancellerie, it strengthens the Group’s anchoring in Flanders Brussels – Belgium thanks to its local market. 3 Maastoren, • Spiral bridge (Van Britsom & Verheye / Roeselare, Rotterdam – The Netherlands Architect: Dam & Partners Belgium) • Drainage works as part of the renovation of the Gent-Sint-Pieters railway station (Van Britsom & Verheye / Ghent, Belgium)

• Stalhille mobile pedestrian and cycle bridge 3 (Van Britsom & Verheye / Bruges-Ostend canal, Belgium) a constant need for quality projects, our approach and know-how offer guaranteed continuity. Despite BESIX Nederland the crisis I therefore see a positive future for BESIX Nederland”, says Jean Polet, General Manager – BESIX has been back on the Dutch market since BESIX Nederland. 1992, where it has now grown into a permanent player. In 1996 the company BESIX Nederland was BESIX France founded in order to confirm the permanent anchoring in the Netherlands. The BESIX Group has been present in France since the beginning of the 2000s with prestigious projects BESIX Nederland has since built up a solid reputation such as terminal 2E of the Paris Charles de Gaulle as a high quality construction enterprise in civil con- airport and the CBX tower at La Défense. The crea- crete engineering, building tunnels, viaducts, stations tion of a branch office dates from January 2003 and and other complex engineering works. Increasingly corresponds to a growth of BESIX activity in France. these are taking the form of Design & Build or PPS contracts with the use of systems engineering. “The civil engineering works currently being undertaken on the Areva nuclear power site at Pierrelatte In the early 2000s BESIX Nederland added complex (in the Department of Drome) as well as those for an utility building to its activities. BESIX Nederland is electricity generation station on behalf of Siemens now building the three highest tower blocks in the (North of France) show the determination of the Netherlands: the Montevideo (152 m), New Orleans Group to reinforce its presence in the French market,” (158 m) and Maas (165 m) towers, all in Rotterdam. highlights Olivier Delaye, Administrative & Financial Manager – BESIX France. Finally, BESIX Nederland is a permanent player on the marine engineering market, with quays, locks, In the difficult economic conditions predicted for jetties, etc. 2009, France’s economic stimulus plan includes a target for 1,000 projects that focus on building. This “With a permanent team of keen and experienced boost to the construction market in France, in partic- employees, and the backing of the BESIX Group sup- ular through projects for high-rise towers, is of great port departments, BESIX Nederland has been able interest to BESIX that intends to position itself as a to implement impressive projects year after year, to leading player by providing its expertise and deliver- our clients’ complete satisfaction. In a country with ing innovative, creative solutions. 56 Group organization Business Units Contracting Construction

International subsidiaries

The Group has two major international The BESIX Group now wants to further develop subsidiaries, one in Morocco, the other in its presence with a permanent agency, BESIX- Cameroon. In both geographic zones it is SOMAGEC (70% BESIX and 30% SOMAGEC), in looking to maintain a presence, continue its Casablanca. The aim is to provide building construc- activities and establish local partnerships. tion and civil engineering services across Morocco.

BESIX-SOMAGEC in Morocco August 2008: setting up of an agency in Casablanca to bring together the various support services. The BESIX Group, which is very active in Morocco, April 2009: permanent Morocco-BESIX-SOMAGEC created a joint enterprise in June 2007 with its part- general management. ner SOMAGEC. Six International in Cameroon “Morocco is a politically stable country with a regu- lated financial market, which has experienced an Cameroon is a part of central Africa that the Group unprecedented economic opening up over recent knows well from taking part in many projects calling years. The country has become an attractive market for all kinds of skills. in terms of tourist development (like the ‘Plan Azur’ for 6 new tourist stations), urban property develop- The BESIX subsidiary in Cameroon has worked for ment, and infrastructure works throughout the coun- nearly thirty consecutive years in the country, includ- try (motorways and motorway extensions, HST & ing the difficult decade of the 1990s during which its tramway projects, new electricity power station, and activities were scaled down and run in survival mode. so on)”, explains BESIX-SOMAGEC Administrative and Financial Manager Thierry Grégoire. Since the revival in the early 2000s, its activities have gradually extended, mainly in new areas not tackled in the past (with the exception of water supply systems).

2 International subsidiaries 57

3 1 / 2 Mungo bridge, Mazagan Resort Cameroon 3 / 4 Mazagan resort, The project – for the Kezner group – consists Morocco of the turnkey construction of a 500-room, 5-star hotel with 6 restaurants, ballroom, casino, swimming pools, discotheque and various independent buildings such as a Golf Club House and a Fitness Centre (Spa) with hammam and sauna. It also includes the landscaping of 250 hectares of dunes and forests, the construction of roads and utili- ties networks, and a waste water treatment and recycling plant designed and installed by BESIX Sanotec. The traditional Moroccan architecture seeks to reproduce the aspect of ancient villages (kasbah). Work started in July 2007 with the vibrocompacting of the sandy soil to increase stability. This technology, which was developed by the BESIX Engineering department, offers many advantages. The opening of the complex is scheduled for the end of summer 2009.

MAzAgAN RESORT MoROCco 250ha

4 58 Group organization Business Units Contracting Construction

The building sector has been scaled back in favour Its objectives are therefore to take part in these of projects calling for more advanced technolo- projects, and to keep up its efforts to bring in a gies and know-how (MTN Switch Building, Moungo major roadbuilding contract. “The support of the bridge, Douala cement works extension, EDEA flood BESIX Group in all operational, logistics and techni- spillway system, the Pont de l’Enfance, Quay 52, cal aspects plus the know-how and knowledge of etc.). the various players in Six International, our company present in the country, should enable us to envis- The profits earned during the past five years, and age our future here with a certain serenity”, says Six the identification of major projects for the coming International Managing Director Patrick De Wilde. decade, such as dams, the KRIBI deep-water port, extension of the aluminium smelter, an iron ore exploitation project, rehabilitation of road structures, etc., justify the BESIX Group maintaining its activities in this country. Construction Middle East 59

›› Construction Middle East A Pioneering Spirit

1 / 2 This local company in Bridge, the Middle East, Six “The strong personality Riaba – Equatorial Guinea Construct, has played a pivotal role in the of our Group, which has 3 Al Ittihad road axis, BESIX Group’s development. With more traversed the ages to Dubai – U.A.E. than 40 years’ presence in the Emirates, become a young cen- the Group is, via Six Construct, a true tenarian, can be sum- pioneer in this part of the world, having marized in one word: Entrepreneur. BESIX taken part in several reference projects has kept its own identity and has participated such as major buildings, port works, in exceptional projects. This entrepreneur civil engineering works... It is active in spirit is certainly the motor, the motivation of Dubai and Abu Dhabi, but also in Doha... all staff who have taken part in the construc- which helps balance out its presence in tion of our Group over the last 100 years: this region. Belgian and unique.” Philippe Quoilin, Chief Operating Officer, BESIX Contracting.

3 60 Group organization Business Units Contracting Construction Middle East

Dubai

Dubai is one of the best known of the seven emirates • Phase 1 of the Al Itihad road axis making up the United Arab Emirates. This reflects (Six Construct / Dubai, U.A.E.). its recent development as a tourist, commercial • Construction of the Palm Deira Gateway bridge and business centre... and the sheer size of certain (Six Construct / Dubai, U.A.E.). projects, like the Burj Dubai Tower, which when • Al Safouh tramway network (Six Construct, completed will be the tallest building in the world. in partnership / Dubai, U.A.E.) (cf. Project Focus). • Phase 1 of the Arabian Bay development, • Burj Dubai Tower (BESIX, in joint venture / with the building of a 3.5 km quay wall Dubai, U.A.E.). (Six Construct / Dubai, U.A.E.). • Phase 1 of the Arabian Bay development, • Development of the Mangrove Park Al Jadaf (Six Construct / Dubai, U.A.E.). (Six Construct / Dubai, U.A.E.).

3 Dubai 61

4 1 Arabian Bay, Dubai – U.A.E. Project focus 2 / 3 Palm Deira gateway bridge, Al Safooh: the first tramway Dubai – U.A.E. network in the U.A.E. 4 / 5 Al Safouh Interchange, Dubai – U.A.E. Six Construct is building the first tram network in the United Arab Emirates in a consortium with Alsthom. The contract, awarded by the Roads and Transport Authority (RTA), consists of the design, construction and maintenance of the 9.5 km Al Safouh Tram project. The civil engineering work started in the first quarter of 2009, with delivery of phase 1 scheduled for April 2011.

al Safouh, U.A.E. 9.5km tramway

5 62 The Burj Dubai Tower, U.A.E.

The Burj Dubai Tower: Reaching for the Top

Building work on the Burj Dubai Tower is drawing to an end, with the team working hard to finalize the new symbol of Dubai by the end of 2009.

The Burj Dubai Tower, which will rise to over 800 metres, will be occupied by a luxury Armani hotel, luxury apartments and office accommodation. A public observatory is also planned on the 124th floor (around 450 metres above sea level).

More than 10,000 workers are involved in completing this iconic building. The team is also busy laying the access roads to the three specific pavilions (Hotel-Residential-Offices) and to the future 3,000 underground parking places. The world’s tallest man-made structure

“Early in January 2009 the spire was jacked into place, making this building the world’s tallest man- made structure, over 800 m, pending certification

Burj Dubai tower U.A.E. +800m height Project Highlight 63

The Burj Dubai Tower: Reaching for the Top

Key Data

BESIX in joint venture with Samsung and Arabtec Height: +800 m Number of floors: 160 40 levels of hotel + 70 levels of luxury appt + 50 levels of offices

Quantity of concrete: 365,000 m³ Steel/rebars: 67,000 t Structural steel above level 154: 5,400 t Project completion: end of 2009

Burj Dubai tower Quantity of concrete 365,000m³

by CTBUH (the Council on Tall Buildings and Urban Habitat) at final completion by the end of 2009”, explains Didier Bosredon, Project Director.

The hotel (up to level 40) has to be operational by December 2009. Handing over of the 900 lux- The tower in its environment ury apartments (to client Emaar) will start during summer 2009. The Burj Dubai Tower is part of the DownTown– Emaar development which includes a shopping Once achieved, a tunnel will take visitors from the mall (opened in September 2008) and various ho- Mall to the central core of the tower, where two high- tels and residential buildings around a lake which speed lifts will then carry them directly to the obser- includes a fountain with water spouting up to vation deck at level 124 with a bird’s eye view of the 150 metres (water and music shows expected to city and beyond. begin in mid-2009). 64 Group organization Business Units Contracting Construction Middle East

Abu Dhabi

The largest emirate in size, Abu Dhabi, is a major oil 2 producer. Conscious of the non-renewable character of its oil and gas resources, this emirate, like certain of its neighbours, has felt the need to diversify its economy and develop renewable energy resources. Today, Abu Dhabi is opening up to the modern world, with several major projects launched in recent years. These include:

• The construction of the Sheikh Zayed Bin Sultan al Nahyan Grand Mosque (Six Construct / Abu Dhabi, U.A.E.) by BESIX and Six Construct. “This is the most attractive project our company has ever undertaken in terms of quality, precision and complexity”, says Philippe Quoilin. “Apart from the • Al Gurm Resort, an artificial island with a construction aspect, this worksite is a true work of tourist complex of 70 villas (Six Construct / art and sculpture... We can really speak of a work Abu Dhabi, U.A.E.). of art. Work is staggered over a three year period.” • Quay wall on Nareel Island (Six Construct / Abu A real visiting card for the BESIX Group! Dhabi, U.A.E.). • Extension of the Ruwais Borouge 2 polyolefin plant (Six Construct / Abu Dhabi, U.A.E.).

1 Abu Dhabi 65

1 ALDAR-BESIX • A ‘Ferrari Experience’ theme park dedicated Al Gurm Resort, to Ferrari (Six Construct, ALDAR-BESIX / Abu Abu Dhabi – U.A.E. ALDAR and BESIX (50/50 partnership) have set up a Dhabi, U.A.E.). 2 management contracting company to carry out the • A marina (Six Construct, ALDAR-BESIX / Sheikh Zayed Bin Sultan al Nahyan Grand Mosque, contracts awarded to them in the Yas Island project. Abu Dhabi, U.A.E). Abu Dhabi – U.A.E.

ALDAR-BESIX is responsible here for logistics, plan- • A shopping centre (Six Construct, ALDAR- 3 ning, supply, design and management of the site BESIX / Abu Dhabi, U.A.E.). Road accesses Saadiyat, Abu Dhabi – U.A.E. and general project supervision. This type of contract • Six Construct is also building all the access should make it possible to finalize the exceptional routes to Yas Island: a 2 x 5 lane motorway, a 4 Ferrari experience, Ferrari Experience development, the access routes bridge and interchanges, including the Saadiyat Abu Dhabi – U.A.E.

and the marina, while meeting the particularly tight freeway. 39 bridges and viaducts in total. 5 deadlines. Port of Sohar, Oman Sultanate of Oman and Emirate of “We come into the picture at the engineering coor- Sharjah dination level. ALDAR-BESIX launches the calls for tenders, negotiates and awards the contracts and The BESIX Group is also present in other Gulf coun- monitors the sites”, explains Philippe Quoilin, Chief tries such as the Sultanate of Oman and the Emirate Operation Officer, BESIX Contracting. of Sharjah:

Another exceptional development is Yas Island. • Phases 3 & 4 of the Hamriyah Inner Harbour This involves some 1,700 ha of building work on (Six Construct / Sharjah, U.A.E.). a 2,500 ha island. The project will be dedicated to • Port of Ras Laffan extension (Six Construct, Formula 1, and will comprise: in consortium / Ras Laffan, Oman). • Port of Sohar extension (Six Construct, in consortium / Ras Laffan, Oman). 4

Ferrari Experience THEME PARK Abu Dhabi – U.A.E. 2,500ha

5 Facility Management, a new competency

BESIX and Suez, via its AXIMA Services subsidiary, have signed a protocol of agreement to develop jointly the management of technical and energy installations, as well as facility management in the United Arab Emirates and in Qatar. 66 Group organization Business Units Contracting Construction Middle East

Qatar

Qatar has seen major growth in recent years thanks • QIPCO Office Tower (Doha, Qatar). Following to projects in the petrochemicals and liquid gas sec- the Khalifa stadium and the Aspire Tower, the Six tors. With growing demand for housing and offices, Construct-Midmac joint venture has been commis- the country’s building and property market remains sioned by Qipco (Qatar Investments & Projects strong. Six Construct Qatar is participating in the de- Development Holding Co) to build the ‘Qipco velopment of this country. Office Tower’. This boldly designed building offers 80,000 m² of offices, restaurants, boutiques and recreational areas. • Al Dhafra & Safran air bases (Six Construct / Abu Dhabi, U.A.E.). • Doha airport extension (Six Construct / Doha, Qatar).

2 Contracting New Developments 67

›› Contracting New Developments

BESIX will be using its existing 4 1 / 2 / 3 organizational structures and Qipco Tower, international projects to bring new Doha – Qatar opportunities to its developing 4 Wathba waste water companies: treatment plant, Abu Dhabi – U.A.E.

5 Water treatment plant, BESIX Sanotec Dubai – U.A.E.

Alongside the development of its activities as a Design & Build contractor for water and waste water treatment plants, BESIX Sanotec also brings to the BESIX Group companies its expertise in environmental engineering.

“Combined with BESIX’s basic activities, these new developments allow the Group to offer greater added value and a wider range of our expertise to our clients,” says Stefan Pousset, Managing Director – BESIX Sanotec. Water is a scarce resource and needs to be preserved!

Water management is part of the sustainable devel-

opment of our planet. The BESIX Group is playing 5 its part by building, among other things, waste water treatment plants, drainage systems and sea water desalination plants. Certain major projects call for a combination of state-of-the-art technical, management and financing skills. It is this total synergy approach which enabled BESIX • Sharjah: phase 7 of the Sharjah waste water Group, in consortium, to win a BOOT (Build, Own, treatment plant (BESIX Sanotec, Six Construct / Operate and Transfer) contract with the Emirate of Sharjah, U.A.E.). Abu Dhabi to finance, design, build and operate two • Abu Dhabi: Wathba and Allahama waste water new waste water treatment plants for the cities of treatment plants (BESIX Sanotec, Six Construct / Abu Dhabi and Al Ain in July 2008. BESIX will un- Abu Dhabi & Al Ain, U.A.E.). dertake the civil engineering and BESIX Sanotec the • El Jadida: drinking water purification and waste electromechanical and maintenance work. water treatment plant for the Mazagan tourist complex (BESIX Sanotec, BESIX-SOMAGEC, Morocco). 68 Waste water treatment plant, Sharjah

Sharjah: Site Speeded up at client’s Special Request

For many years, Six Construct has been BESIX Sanotec and Six Construct decided to the preferred ‘civil engineering’ partner of combine forces to bid for the building contract for the municipality of Sharjah for the various Phase 7 of the Sharjah waste water treatment plant phases of construction and modernization (civil engineering and electromechanical works). of its waste water treatment plants. Their efforts paid off. Project Highlight 69

Sharjah: Site Speeded up at client’s Special Request

Under this contract, BESIX Sanotec is also operating and maintaining the existing sludge treatment installations, making a major contribution to the overall efficiency of the waste water treatment plant.

Installations, already delivered, treat the entire discharge.

“With this success under its belt, BESIX Sanotec awarded so naturally a 12 months operation and maintenance contract for the entire phase 7 installations with the municipality of Sharjah. In the meantime we are negotiating for the hand over of A respectful vision of operation and maintenance activities for phases the environment 2 to 6. This recognition sets us up strongly for the future...”, concludes BESIX Sanotec Managing The Phase 7 installations have been designed to Director Stefan Pousset. treat 85,000 m³ of waste water a day with a low energy consumption aeration system (fine bubble aeration combined with high speed centrifuges), deodorization units (chemical purifiers) and a high tech UV disinfection system in order to minimize the global environmental impact.

The treated effluent is then used for irrigation. This sharjah, U.A.E. considerably reduces the need for desalinated water, which is expensive in Sharjah. 85,000m³ A real prowess capacity per day

The work was originally scheduled for completion on 30 June 2008, but given the growth in the property sector and Sharjah’s rapidly rising population, and to relieve the existing, overloaded treatment plant, the municipality asked the contractors to complete part of Phase 7 ahead of schedule.

An agreement was reached between the parties concerned. The treatment installations were ready to receive waste water on 31 March, three months ahead of the originally contracted completion date. 70 Group organization Business Units Contracting Contracting New Developments

Socogetra

Socogetra has a number of industrial positions and Socogetra’s approach in the fast-changing water companies operating in various roadbuilding and civil collection and treatment market has been to engineering-related activities. These include quar- position itself across a large number of related areas. ries of different kinds, inert building waste treatment plants, and the production of ready-to-use products The laying of collectors and the building of water like concrete, bituminous materials and asphalt. purification stations in cooperation with specialist Socogetra also has its own equipment fleet and its electromechanical partners all supplement own roadmarking company. the panoply of services it offers.

Socogetra brings to the Group its experience in in- Socogetra also does renovation and reconstruc- frastructure development. “As a public and private tion work on small civil engineering structures, works contractor, Socogetra masters the technology for example as part of tracklaying and maintenance needed for road and civil engineering projects”, says projects for the national railway company. Socogetra Managing Director Jean-Pierre Bernard. Plus points

As well as being an essential player on the Belgian market, Socogetra has no hesitation in exporting its roadworking know-how and skills. One example is the maintenance work on asphalt pavements carried out last year in France by its thin surfacing division. Quarries of every kind

Back in the 1980s, the BESIX Group took the decision to operate its own quarries. Not only does this secure a supply of competitively- priced raw materials for its own worksites, but internationally it also reduces the cost of trans- porting raw stone between the quarry and the worksite. CARRIERE DES LIMITES, BELGIUM In this way the Group has a limestone quarry at Dibba (U.A.E.) and a gabbro quarry at +80,000t Fujairah. These deliver raw materials directly OF ASPHALT, THANKS TO ITS DIVISION either to cement plants (limestone) or for sea WHICH IS SPECIALIZED IN ASPHALT PAVEMENT enrockments

In Belgium itself, the BESIX Group also owns numerous quarries via Socogetra. These produce all kinds of materials – crushed limestone, sandstone and others – for its worksites. Production runs from 400,000 tonnes of sandstone at the Carrière de Grès Réunies to up- wards of 1 million tonnes of crushed limestone, mainly for concrete and asphalt, at the Carrière des Limites.

1 Socogetra 71

1 Marche-en-Famenne bypass, N4-N63 line – Belgium “My testimony is based CARRIERE DES LIMITES, BELGIUM on only two years within 2 Water treatment plant, the Group, but I feel that Izel – Belgium

I can already speak of its 3 credibility... BESIX is an +1,3 m io t GNB Beton, Bastogne – Belgium extraordinary mix of small-scale local projects OF AGGREGATES (SANDSTONE, LIMESTONE, and colossal sites, of human exchanges and SAND, ...) professional effectiveness, of extravagant ambitions and measured rationality, of risk-taking and success, of growth and stability. It is with faith and confidence that I can envisage the next 100 years of the Socogetra is constantly pursuing growth and BESIX Group!” strengthening its structure, with particular attention Jean-Pierre Bernard, to the management and training of its personnel. Managing Director, Socogetra Among the projects in progress in 2008: • Extension of the L160 Railway Promenade towards Delta metro station (Brussels, Belgium). • Activity and leisure zone for Idelux (Martelange, Belgium). Looking to the future • Central Ardennes Logistics Park for Idelux (Martelange, Belgium). Socogetra has decided to boost its manpower in or- • Road surface maintenance using cold surfacing der to offer its services and expertise in the Flemish technology on the N4 for the MET (Walloon Public Region. It has also developed contacts with com- Services) (Belgium). panies in related fields so as to be able to offer its • Water treatment station for AIVE (‘Association clients an all-round service in water treatment, soil Intercommunale pour la Valorisation de l’eau pour remediation and pollution removal. la Province de Luxembourg’) (Martué, Belgium).

2 72 Group organization Business Units Contracting Contracting New Developments

Franki Foundations Group Belgium

Franki Foundations Group Belgium, just like BESIX Foundations joined the BESIX Group. Its know-how Group, was founded about 100 years ago as Société will complete the BESIX Group’s activities. des Pieux Armés Frankignoul. Franki Foundations Group Belgium is a renowned worldwide leader “We have a unique model, offering added value, in the field of excavation and improvement of soil which is exportable in particular to the Middle East. structures. With Belgium as its historic core market, With BESIX, we are able to optimize infrastruc- Franki Foundations also exports its know-how to the ture projects by proposing alternative solutions in Netherlands, France, Germany, the United Kingdom, terms of functions and superstructures”, says Guy Africa and Russia. In December 2008, Franki Cortvrindt, CEO, Franki Foundations Group Belgium.

1 Regional Affiliates 73

›› Regional Affiliates

2 Vanhout, Wust, Jacques Delens, Lux TP & Cobelba cover the construction markets in their respective regions. Activities in the Flemish Region (East and West Flanders) are managed by BESIX Vlaanderen, in cooperation with Vanhout. The regional affiliates are responsible for small and medium-sized projects. Buildings are part of their core business. Large-scale civil engineering works are managed by BESIX, in synergy with the regional affiliates.

1 NZ line, Amsterdam – The Netherlands

2 Square Brussels Meeting Centre – Belgium

3 Terrasses de l’écluse, Brussels – Belgium

4 Airport garden, Zaventem – Belgium

4 74 Group organization Business Units Contracting Regional Affiliates

Vanhout

Vanhout has grown into a diversified group today. The PPP projects, in which, once delivered, mainte- Apart from contractor Vanhout it includes the Botec nance and operating represent as important a por- engineering office, the HBS finishing company and tion of the project as the building itself, led in 2008 the Batech (sustainable building). to the setting up of a separate Facility Management Vanhout operates in a wide range of building activi- department. ties: office buildings, utility and residential projects, civil engineering, environmental technology and in- Vanhout has also remained faithful to its strategy in dustrial production units. the ‘bouwteams’ market, as for the renovation of the VanBreda building in Antwerp. For Vanhout nv, 2008 was a highly successful year with sales in excess of € 100 million. The sale of In the public sector, Vanhout worked on four Immo Campus Blairon in Turnhout contributed to hospitals: the Heilig Hart hospital in Mol, the this result. This company stems from the first pure St-Elisabeth hospital in Turnhout, the OLV van Public Private Partnership that Vanhout put together Lourdes clinic in Waregem and the new merged at the time. Since then Public Private Partnerships A.Z. Groeninge hospital in Kortrijk. have become a permanent part of the order portfolio. In 2008, the various departments of the mu- With sister company BESIX Real Estate Develop nicipality of Zoersel took up their new quarters in ment, residential projects were undertaken in the Bethaniënhuis. Programmed for early 2009 are Sint-Jans-Molenbeek, Opwijk, Zonhoven and Sint- a services centre and 110 care apartments for the Lambrechts-Woluwe. Schoten social services department. Finally we would mention the ongoing work on a number of large projects: the Airport Garden (buildings B & A), AML Antwerp (laboratories), AMCA (office building and starting work on a high Key projects rise apartment building) and 103 lofts along the HST line in Herent. • Leopold III office renovation works (Brussels, Belgium). • Kloosterbempden project (Maaseik, Belgium). • Renovation of the Bethaniënhuis (Zoersel, Belgium). “In 1986 the fam- • 15,000 m² of offices (Borgerhout, Belgium). ily company Vanhout came into the Belgische Betonmaatschappij / 1 Société Belge des Bétons. At that time, it was decided to grant ‘qualified autonomy’ to the acquisitions on the domestic market. Through the consistent application of this strategy Vanhout has been able to benefit from the various synergies within the Group, while maintaining the flexibility and competi- tiveness of a strong local brand name.” Jef Lembrechts, Managing Director, Vanhout Vanhout & Wust 75

Wust

Working in all areas of the construction business, 2 1 Bethaniënhuis, Wust manages a very large number of worksites of Zoersel – Belgium all shapes and sizes, in Wallonia, Brussels and the 2 Grand Duchy of Luxembourg every year. Hôtel de la Couronne, Liège – Belgium Customer satisfaction is the heart of the enterprise 3 Codic office buildings, culture, in which quality, safety and the environment Wavre – Belgium play a key part.

2008 marked a further step in Wust’s development. Production reached over € 133 million, with excellent earnings. 2008 also marked the company’s 75th anniversary, celebrated by a party for employees and their families. The attendance at this occasion was an additional sign of the attachment of the entire workforce to the company and its pride in being part of it. Through their competence, motivation and team spirit, they are making Wust a real quality partner.

“In 2009, the BESIX Group Key projects celebrates its centenary, coming a few months after • Building of a cogeneration unit, pellet Wust’s 75th anniversary. production, sawing and planing workshops I see in this simultaneity of anniversaries a and offices for I.B.V. (Vielsalm, Belgium). token of the solidity that the Group’s pres- • Building of the ‘Sauvenière’ 4-theatre ence has helped give Wust. The policy of cinema complex (Liège, Belgium). qualified autonomy, which each company • Renovation of a building to create the benefits from, and the permanent support of ‘Hôtel de la Couronne’ hotel complex the Group, have enabled Wust to continue to (Liège, Belgium). grow and flourish whilst maintaining its own • Construction of a manufacturing identity. This way of operating is an incentive workshop and offices for Ensival-Moret to all Wust employees to prove, day by day, (Thimister, Belgium). their determination to meet the challenges • Construction of 3 office buildings for awaiting them. My hope is that this relation- Codic (Wavre, Belgium). ship of trust and responsibility will continue long into the future.” Didier Hans, Managing Director, Wust 76 Group organization Business Units Contracting Regional Affiliates

Jacques Delens

Created in 1967, the Entreprises Jacques Delens The Entreprises Jacques Delens and Sud Construct undertake new building, renovation and restoration remain attached to the values propounded by projects for both private and public clients. Mr Jacques Delens when founding his company: respect for the client, producing a quality job within the Its know-how is recognized right across the con- agreed time limit, and a concern for the well-being of struction market: housing, offices, factories, hos- all personnel. pitals, hotels, schools, sports and leisure centres, theatres, auditoria and cinemas. Without having any set territorial limits, its activities are concentrated mainly on the Brussels region and the two provinces of Brabant. “The Entreprises Jacques The Entreprises Jacques Delens’ strengths are its Delens are too big to be flexibility, rapid decision-making, its readiness to ac- small and too small to be cept challenges and the determination of each of its big, was a phrase often heard before 1982. members to press forward together. Since joining the BESIX Group in 1982, and given the synergies within the Group, the Its Sud Construct subsidiary is active in smaller scale Entreprises Jacques Delens can now join worksites, where its added value lies in its coordina- once and for all the circle of big boys whilst tion skills and ability to meet tight deadlines. retaining its autonomy, and meet the chal- The Entreprises Jacques Delens and its subsidiary lenges of larger worksites. The BESIX Group, Sud Construct together employ 200 workers and which this year celebrates its 100 years in the salaried employees. building world, can be proud of the road it has travelled, of the diversity of the projects it has carried out and of the way it has grown by pooling the strengths of each company in the group and maintaining the specific char- 1 acter and know-how of each of them.” Marc Joway, Managing Director, Jacques Delens

Key projects

• 33 individual dwellings on the ‘Les Bruyères’ site (Louvain-la-Neuve, Belgium). • Quatro Shop manufacturing workshop (Wavre, Belgium). • Renovation and enlarging of the Congress Palace in synergy with BESIX and another partner (Brussels, Belgium). • Warehouse extension and new offices (Brussels, Belgium).

2 Jacques Delens & Lux TP 77

Lux TP

1 As one of the Grand Duchy of Luxembourg’s three Les Bruyères, Louvain-La-Neuve – Belgium leading construction companies, Lux TP is play- “BESIX, a hundred-year 2 ing an active role in the Group’s expansion on the old Group with a world- Square Brussels Meeting Luxembourg market. wide reputation, and Centre, Brussels – Belgium constantly expanding 3 / 4 Cement plant, Lux TP’s civil engineering activities encompass indi- both geographically and in terms of range Esch-sur-Alzette – vidual housing, infrastructure and also railway works. of activities, is for me synonymous with se- G.D. Luxembourg

riousness, dynamism and permanence. We Since it was created in 1973, Lux TP has operated are proud to belong to this solid Group with in civil engineering and infrastructure work, as well as so many competences. Despite the difficult public and private buildings. economic situation, we remain confident in the future of our company. Let’s set to work A major specialist in the design and production of car together to meet the challenges of the next parks and garages, as well as railway engineering, 100 years.” the company has also proven know-how in road and Jean Cazzaro, motorway building. Its wide range of competences Managing Director, Lux TP runs from structural work to outdoor improvements and finishing work.

Lux TP’s detailed knowledge of the Grand Duchy of Luxembourg makes it an essential player in this area. Key projects

• Royal Monterey, a 900 m² building (BESIX, Lux TP / Luxembourg, G.D. Luxembourg). • Underground parking garage (Lux TP / Esch-sur-Alzette, G.D. Luxembourg). • Cement plant extension (Lux TP / Esch-sur-Alzette, G.D. Luxembourg).

3 4 78 Group organization Business Units Contracting Regional Affiliates

2 Cobelba

Cobelba, which joined the BESIX Group two years ago, is one of the leading construction players in the Walloon Region.

Operating out of both the centre of Wallonia (Naninne) and the far south of the country (Virton), Cobelba constructs, converts and extends industrial buildings, offices, shops and apartment buildings.

With its knowledge of the regional environment, Cobelba also develops real estate development projects, in joint venture with investors.

Out of a desire to strengthen its activities in the Province of Luxembourg and constantly improve the “It is now nearly two quality of its work, Cobelba has invested in new in- years since Cobelba, stallations in Virton on the Latour industrial estate. together with Socogetra, joined the BESIX Group. This has proved a very wise decision. We have discovered the dynamism, professional- ism, concern for quality work and respect for Key projects individuals that characterize the Group. On the commercial level, our joining the BESIX • 22,000 m² Père Olive factory Group has strengthened our image and (Andenne, Belgium). opened up new prospects for us. Finally, we • 80 apartment buildings can state that we are both proud and happy (in joint venture / Gembloux, Belgium). to belong to Belgium’s largest construction • Heightening of two buildings company which is celebrating its centenary and interior conversion for GSK this year. We look forward to the future with (Rixensart, Belgium). confidence, despite the economic turbulenc- • GSK staff restaurant es which we will probably face in the coming (Wavre, Belgium). months. A good entrepreneur should always • Isomatex factory at Isnes be optimistic...” (Gembloux, Belgium). Jean-Louis Henry, • 2,200 m² Delhaize supermarket Managing Director, Cobelba. (Gembloux, Belgium). Cobelba 79

1 Residence ‘Les Pommiers’, Gembloux – Belgium

2 Restaurant for the staff GSK, Wavre – Belgium

3 Royal Windsor Hotel (Jacques Delens), Brussels – Belgium

4 Water treatment plant for Janssen Pharmaceutica, phase 1 (Vanhout), Beerse, Belgium

5 Sport center of 3 Woluwe-St-Pierre 1971 (Wust), Brussels, Belgium

4 1976

5 1970 80 Group organization Business Units

1 1910

2 Real Estate 81

Real Estate Real Estate in 2008: prudence and circumspection

In the difficult economical context, the Thanks to its new operational structure, based on 1 European Parliament, Belgian real estate market seems to have the development process of a real estate project: Brussels – Belgium been spared the worse in 2008, especially prospection, juridical and financial structuring, build- 2 in comparison with other countries such ing phase and commercialization, BESIX R.E.D. Rue Ravenstein (rue Courbe), Brussels – Belgium as Spain or Great Britain, where the real wants to reinforce its proactivity in its current and future challenges. 3 estate bubble actually burst. Building Roch, Namur – Belgium In the residential sector, comprising an important part of our activities nowadays, Belgium has been shielded against a serious devaluation. Price cor- rections have indeed been striking the secondhand market more. Nonetheless, caution is still advised and it will be imperative to be very selective in bring- ing new products onto the market. As for the professional real estate, we have to ac- knowledge that the market has collapsed in the last semester of 2008.

“In 2008, especially in the second semester, we 2 saw the financial crisis spread all-over the world and plunge the economy into a period of recession, of which the extent is yet to be evaluated. Trust in financial institutions is gone and even worse those institutions are incapable of fulfilling their primary task, that is supporting the economic development by injecting capital. This weakness in the financial sector doesn’t only have consequences for our ability to fund development projects, but it also makes it difficult for our clients to obtain the necessary means to buy real estate”, comments Jean-Jacques Delens, Managing Director, BESIX Real Estate Development. 82 Group organization Business Units

les TERRASSES DE L’ECLUSE BRUssElS, BELGIum 11,000m²

Its acquisitions In the city of Luxembourg, BESIX R.E.D. pur- chased a site in Luxembourg with the goal of In this difficult context, BESIX R.E.D. decided to developing an office building of more or less stop its development projects in Algeria and more 12,000 m², in joint venture with the company particularly the hotel project ‘Moretti’. The company ATOZ, which will be the main occupant. ARE has been liquidated. ... its perspectives In Brussels the decision has been taken not to develop the office project ‘Royale 120’, but to sell it in In Lille, BESIX R.E.D. won a contest organized by its actual state, with its permits. the Société Anonyme d’Economie Mixte (SAEM) ‘Euralille’, for the construction of a building with Among the successes of 2008, we particularly 12,000 m² of office space and 1,000 m² of notice the sale to AXA Belgium of an office build- retail area. ing in Louvain-La-Neuve, which will mainly be rented out to the pharmaceutical group ‘Wyeth BESIX R.E.D. has started the construction of Pharmaceuticals’. The construction of this project a new residential project of 38 apartments in has started. In Louvain-La-Neuve, our company Woluwe-Saint-Lambert. The project is called has also been designated laureate, in joint venture, residence ‘Permeke’ and the sales are going for the development of a new district of more than well. In Woluwe-Saint-Pierre, a project, in joint 55,000 m² around the future RER station. venture, of 35 luxury apartments has been set in motion. The construction will start in April The commercialization of our residential projects 2009. For a new project in Uccle (18 apartments keeps going well. We obtained good sales results and 10 houses) and Jette (74 apartments, for the projects ‘Les Grammairiens’ in Louvain-La- in joint venture), permit requests have been Neuve, ‘Triumph Gardens’ in Auderghem, ‘Matisse’ submitted. in Woluwe-Saint-Lambert, ‘Les terrasses de L’Ecluse’ in Molenbeek-Saint-Jean, ‘Les Remparts Other residential projects, mainly in Auderghem de Dinant’ in central Brussels, ‘Grünewald’ in and Nivelles, are being studied and will only be Luxembourg, etc. In total we sold almost 200 units. started under favorable market conditions. Real Estate 83

1 Building Leskoo, Oudenaarde – Belgium

2 ‘Les Terrasses de l’Ecluse’, Brussels – Belgium

3 Triumph Garden, Brussels – Belgium

4 European Parliament, Brussels – Belgium

4 84 Group organization Business Units

1 1923

2 Concessions 85

Concessions A leading actor

In order to respond to contract award Contracts have been signed in Belgium, the 1 Metro, procedures involving new contract formats, Netherlands and in the United Arab Emirates, prov- Barcelona – Spain such as public-private partnerships ing the growth of this new area of activities. 2 and concessions, the BESIX Group has Coentunnel, Amsterdam – The created a specific ‘Concessions’ unit. Following the design, build, finance, operate and Netherlands maintain contract for a drainage network and water This organizational structure enables it to 3 / 4 develop its expertise in these new areas. treatment plant in the Emirate of Ajman, associating Water treatment plant, Synergies have been developed between BESIX Sanotec and Six Construct, on 22 April 2008, Ajman – U.A.E. different Group companies. They should be the Group officially signed (in joint venture) a contract further strengthened in the future. with Rijkswaterstaat to extend the capacity of the Coentunnel route in Amsterdam. This DBFM (Design, “For BESIX Group, the signing of these contracts Build, Finance & Maintain) contract came into effect signals the definitive start of the creation of an inde- on 1st June 2008, and is characterized by the fact pendent ‘Concessions’ Business Unit. It confirms the that the successful bidder (in this case Coentunnel Group’s policy, that focuses on construction, real Company) is responsible not only for the design and estate and concessions”, concludes W. Dekkers, Chief Development Officer, BESIX Group.

3 86 Group organization Business Units

construction of the infrastructure, but also its finance Ghent law courts. Vanhout has also carried out and maintenance for a period of 24 years. other municipal PPP (Public-Private Partnership) projects in Belgium. On 30 July 2008, the BESIX Group chalked up another success in the Middle East by signing (as The BESIX Group is part of the joint venture part of a consortium) a BOOT (Build, Own, Operate that has been declared the preferred bidder for and Transfer) contract with the Emirate of Abu designing, building, financing and maintaining the Dhabi, relating to the financing, design, construction Oosterweelverbinding project, the final section of and operation of two new waste water treatment the Antwerp Ring Road. plants for the cities of Abu Dhabi and Al Ain (cf. BESIX Sanotec). Other projects are in the pipeline. These include public infrastructure projects such as road-building In Belgium, BESIX and Vanhout have participated, projects, educational facilities, hospitals, prisons, via Rabot Invest, in the financing and building of the etc., in both the domestic and international markets. Concessions 87

1 The concession Court-house, Ghent – Belgium

The is a contract in which a con- (road infrastructures, schools, public transport, 2 concession Oosterweelverbinding, cession holder undertakes to design, build and hospitals, etc) serving the needs of the com- Antwerp – Belgium finance the facilities in exchange for the right to munity. The BESIX Group intends to develop this 3 operate them over the long term. This form of area of activity that adds a new dimension to the Wathba waste water treatment plant, contract generally also involves the payment of traditional construction business. Abu Dhabi – U.A.E. a fee. It is similar to a method of management whereby the authority delegates to a co-contractor the construction and operation of installations

Abu Dhabi waste water treatment station

A BOOT (Build, Own, Operate and Transfer) contract between BESIX Group (in

consortium) and the Emirate of Abu Dhabi 3 to finance, design, build and operate two waste water treatment plants (Wathba and Allahama) for respectively the cities of Abu Dhabi and Al Ain. 88

1 1958

2 Consolidated Financial Statements 2008 89

1 Bank, Luluabourg – Congo

2 Building Eandis, Melle – Belgium

3 Infrastructure maintenance Kosmos – The Netherlands

4 Consolidated Financial New Orleans, Statements 2008 Rotterdam – The Netherlands

Comments from the CFO Balance sheet Income statement 3 Consolidated cashflow statement Information regarding the Consolidated Financial Statements

4 90 Consolidated Financial Statements 2008 Comments from the CFO

Comments from the CFO

2008 in a few figures

Turnover in 2008 reached a new record, pass- ing for the first time the € 2 billion mark to reach € 2,091.3 million, up 34.0% compared with 2007. The increased activity came mainly from our International activities, and especially from the Gulf countries.

turnover Group EBITDA amounted to € 132.0 million (6.3% of sales) and net cashflow reached € 143.1 million, up 55.7% from the previous year. € 2,091.3 mio This good performance as well as an ever more +34.0% rigorous monitoring of client payments positively impacted the net treasury position, which ended the year at € 159 million positive, up sharply on 2007.

ebitda IFRS consolidated net income (Group share) amounted to € 75.0 million compared with € 51.6 € 132.0 mio million in 2007 (+45.3%). +48.5% Net income was 3.6% of sales.

The Group’s own funds before the dividend distribu- tion reached € 267.6 million, up 33.2%. The solvency ratio remains at 19.1%, despite the net cash flow strong growth in activity, and the concomitant in- € 143.1 mio crease in the balance sheet footings. +55.7% The order book at 1/1/09 amounted to € 3,627 million, of which 25.4% in Benelux-France and 74.6% in the International zone.

IFRS net Result No subsequent events have occurred between the closing of accounts and the Board of Directors’ meeting of 26 March 2009 which approved the € 75.0 mio consolidated IFRS financial statements which would +45.3% require adjustments to the financial report.

Paul Mouton Comments from the CFO 91

1 BESIX Headquarters Brussels – Belgium 92 Consolidated Financial Statements 2008 Balance sheet

Balance sheet (in ’000 €)

2008 2007

Non-current assets 232,535 208,366 Intangible assets 4,346 3,928 Tangible assets 203,160 177,037 Investment in associates 6,522 11,159 Receivables 8,768 2,420 Other assets 8,549 12,251 Deferred tax assets 1,190 1,571

Current assets 1,338,482 863,976 Inventories 60,495 29,313 Construction contracts in progress 49,258 52,189 Real Estate held for sale 103,123 76,057 Trade receivables 654,853 421,549 Other receivables and other assets 145,981 122,012 Cash and cash equivalents 324,772 162,856

Total assets 1,571,017 1,072,342

Shareholders equity 267,558 200,923 Share capital 32,000 32,000 Retained earnings 236,168 175,588 Translation differences -610 -6,665

Minority interests 93 68

TOTAL EQUITY 267,651 200,991

Non-current liabilities 212,221 144,723 Borrowings 120,769 85,219 Provisions 42,775 41,822 Other liabilities 32,855 2,329 Deferred tax liabilities 15,822 15,353

Current liabilities 1,091,145 726,628 Borrowings and bank overdraft 51,039 42,537 Trade payables 562,167 358,965 Advances received on contracts 226,051 141,016 Billing in excess 85,209 64,647 Income taxes payable 8,524 9,612 Provisions 50,595 22,954 Other liabilities 107,560 86,897

Total equity and liabilities 1,571,017 1,072,342 Income statement 93

Income statement (in ’000 €)

2008 2007

Revenue 2,091,346 1,560,158

Cost of sales -1,895,037 -1,407,403 of which depreciation -40,447 -30,879 of which provisions -20,751 -14,802

Gross Profit 196,309 152,755

General & Administrative expenses -114,518 -102,509 of which depreciation -3,186 -3,304 of which provisions -4,348 1,713

Other income / expenses 6,616 4,515

Operating profit 88,407 54,761

Financial income 11,477 10,632

Financial charges -15,496 -11,844

Results from associates -515 -1,212

Profit / (loss) before taxes 83,873 52,337

Income taxes -8,815 -730 Current taxes -9,524 -7,676 Deferred taxes 709 6,946

Consolidated profit / (loss) 75,058 51,607 Minority interests -25 -11

Group consolidated part 75,033 51,596 94 Consolidated Financial Statements 2008 Consolidated cashflow statement

Consolidated cashflow statement (in ’000 €) 2008 2007 Operating activities Consolidated operational profit for the period 88,407 54,761 Depreciation 43,633 34,183 Allowances 2,552 -4,362 Provisions 25,720 13,089 Result on the disposal of fixed assets -5,880 -1,424 Cashflow generated from operations before working capital changes 154,432 96,247

Taxes paid -8,429 -6,267

Change in working capital 16,883 20,922

Net cash from operating activities 162,886 110,902

Resources generated by investing activities Purchases of intangible and tangible fixed assets -76,033 -64,713 Purchase of financial fixed assets -14 -1,574 Subtotal of investments -76,047 -66,287

Disposals of intangible and tangible fixed assets 12,830 6,125 Disposals of financial fixed assets 4,148 176 Subtotal of disposals 16,978 6,301

Dividends received from associated companies 919 487

Impact from changes in the consolidation perimeter 1,243 -17,805

Change in treasury resulting from investments -56,907 -77,304

Resources generated by financing activities Net change in financial debt 71,803 -1,799 Net change long term receivables 301 2,410 Interests paid (net) -3,157 -2,894 Dividend paid to shareholders -13,010 -12,105

Change in treasury resulting from financing activities 55,937 -14,388

Change in net treasury 161,916 19,210 Treasury at the beginning of the period 162,856 143,646 Treasury at the end of the period 324,772 162,856 Information regarding the Consolidated Financial Statements 95

Information regarding the Consolidated Financial Statements

1 Auditor’s report Financial statements Interested persons can obtain a Maastoren, Rotterdam – The Netherlands copy of these documents on de- The auditor has issued an unqual- The statutory and consolidated mand at the company’s address. ified opinion on the statutory and financial statement, together consolidated financial statements with the report of the Board of For further information, as of December 31, 2008. Directors and the audit report, contact Paul Mouton, Chief will be filed with the Belgian Financial Officer, BESIX Group, National Bank as prescribed by Phone +32 (0)2 402 64 57. governing law.

1 96 Companies

BESIX Group s a Contracting

BESIX Group s a n v BESIX s a BESIX-SOMAGEC s a s 100, avenue des Communautés 100, avenue des Communautés Angles rues Mesfioui et Corbi 1200 Brussels – Belgium 1200 Brussels – Belgium Oukacha – 20250 Ain Sebaa T +32 (0)2 402 62 11 T +32 (0)2 402 62 11 Hay Mohammadi F +32 (0)2 402 62 05 F +32 (0)2 402 62 00 Casablanca – Morocco [email protected] [email protected] www.besixgroup.com www.besix.com BESIX Egypt Branch Corniche El Nil 97 BESIX Vlaanderen Rod El Farag ‘Vier Winden’ MG Building 11 Cairo – Egypt Kortrijksesteenweg 1144, bus F T +20 (0)2 459 44 91 9051 Sint-Denijs-Westrem F +20 (0)2 457 41 07 Belgium [email protected] T +32 (0)9 321 78 10 F +32 (0)9 321 78 11 Orascom BESIX Nile City Towers BESIX Nederland b v South Tower 22-24, Trondheim 2005 Corniche El Nil 2993 LE Barendrecht Cairo – Egypt The Netherlands T +20 (0)2 2 461 11 11 T +31 (0)1 80 64 19 90 F +20 (0)2 2 461 94 06-07 F +31 (0)1 80 64 19 91 BESIX Sucursal BESIX France Guinea Equatorial 47, avenue Georges V Punta Europa 75008 Paris – France Bioko Norte – Equatorial Guinea T +33 (0)1 49 03 40 20 T +240 (0)26 74 10 F +33 (0)1 40 90 71 69 Six International l t d BESIX Italy B.P. 3124 – Douala 272, Via Aurelia Antica Cameroon 00165 Roma – Italy T/F +237 (0)39 25 85 T +39 (06) 393 877 90 F +39 (06) 393 758 37 PIHL-BESIX a p s 143, Celestial Park Vessigny Village Trinidad & Tobago

BESIX Azerbaijan 10, A. Abdurrahimov Str. Baku – Rep. Azerbaijan 97

Regional Affiliates

Vanhout n v Sud Construct s a Wust Construction 12, Lammerdries 1, avenue du Col-Vert Luxembourg s a r l 2440 Geel – Belgium 1170 Brussels – Belgium 47, route de Dieckirch T +32 (0)14 25 16 11 T +32 (0)2 788 54 00 7220 Walferdange F +32 (0)14 25 16 00 F +32 (0)2 788 54 54 G.D. Luxembourg [email protected] [email protected] T +352 263 20 555 www.vanhout.be www.sudconstruct.be F +352 263 21 256 www.maisons.wust.lu HBS n v Ets. Jean Wust s a 12, Lammerdries 151, route de Falize Proffund n v 2440 Geel – Belgium 4960 Malmedy – Belgium 1, Brouwerijstraat T +32 (0)14 25 17 01 T +32 (0)80 79 27 11 9031 Ghent – Belgium F +32 (0)14 25 17 91 F +32 (0)80 79 28 12 T +32 (0)9 257 09 20 [email protected] F +32 (0)9 258 20 23 Van Britsom & Verheye n v www.wust.be [email protected] 157 C, Legeweg www.proffund.be 8020 Oostkamp – Belgium Cobelba s a T +32 (0)50 36 80 85 Parc Industriel F +32 (0)50 36 80 81 5100 Naninne – Belgium [email protected] T +32 (0)81 40 14 21 www.vanbritsomverheye.be F +32 (0)81 40 13 19 [email protected] Jacques Delens s a www.cobelba.be 1, avenue du Col-Vert 1170 Brussels – Belgium Lux TP s a T +32 (0)2 566 96 00 B.P. 49 F +32 (0)2 566 97 00 5201 Sandweiler [email protected] Zone Industrielle www.jacquesdelens.be G.D. Luxembourg T +352 35 79 79 F +352 35 79 06 [email protected] 98

Construction New Developing Middle East Markets

ALDAR – BESIX l l c BESIX Sanotec s a Emubel s a P.O. BOX 78694 100, Avenue des Communautés Parc Industriel des Hauts-Sarts Shahama 1200 Brussels – Belgium 266, Rue de Hermée Abu Dhabi – U.A.E. T +32 (0)2 402 62 11 4040 Herstal – Belgium T +971 (0) 2 501 36 00 F +32 (0)2 402 65 11 T +32 (0)4 248 13 82 F +971 (0) 2 501 37 99 [email protected] F +32 (0)4 248 22 50 [email protected] www.besixsanotec.com www.emubel.be

BESIX Sharjah Branch BESIX Sanotec Sharjah Branch Vialines s a P.O. Box 1472 Industrial Area n° 5 85, Avenue Albert 1er Sharjah – U.A.E. Street n° 1 & 20 crossing 4030 Grivegnée – Belgium T +971 (0)6 568 41 36 P.O. Box 61872 T +32 (0)4 343 11 15 F +971 (0)6 568 04 53 Sharjah – U.A.E. F +32 (0)4 343 07 35 T +971 (0)6 542 26 50 www.vialines.com Belhasa Six Construct l l c F +971 (0)6 542 41 37 P.O. Box 13055 Famenne Enrobés Dubai – U.A.E. Moalajah Route Industrielle ‘Le Gerny’ T +971 (0)4 509 22 22 / P.O. Box 4739 101, Rue Saint-Isidore 347 27 77 Ajman – U.A.E. 6900 On (Marche-en-Famenne) F +971 (0)4 347 35 12 T +971 (0)6 714 88 00 Belgium F +971 (0)6 714 88 10 T +32 (0)84 22 08 15 Six Construct Qatar Branch F +32 (0)84 22 08 09 P.O. Box 22677 Socogetra Doha – Qatar 11, Rue Joseph Calozet GNB Béton s a T +974 (0)4 374 409 6870 Awenne (Saint-Hubert) Zoning Industriel F +974 (0)4 354 035 Belgium 6600 Bastogne – Belgium T +32 (0)84 36 62 03 T +32 (0)61 21 64 12 United Ready Mix F +32 (0)84 36 65 13 F +32 (0)61 21 76 01 P.O. Box 22677 www.socogetra.com 15, Rue du Grand Champ Doha – Qatar 5380 Fernelmont – Belgium T +974 (0)4 906 779 Carrières des Limites T +32 (0)81 41 48 44 F +974 (0)4 906 780 97 G, Rue de Ave F +32 (0)81 41 48 45 6920 Wellin – Belgium www.gnbbeton.be T +32 (0)84 38 84 85 F +32 (0)84 38 87 94 Franki Foundations Group Belgium s a Carrières de Grès Réunies Parc des Activités (C.G.R.) s a Economiques de Saintes Route de Cielle 2, Avenue Edgard Frankignoul 6980 La Roche – Belgium 1480 Saintes – Belgium T +32 (0)84 41 20 32 T +32 (0)2 391 46 46 F +32 (0)84 41 20 40 F +32 (0)2 391 46 47 99

Real Estate

BESIX Real Estate Roch s a Espace Midi s a Development s a 100, Avenue des Communautés 100, Avenue des Communautés 100, Avenue des Communautés 1200 Brussels – Belgium 1200 Brussels – Belgium 1200 Brussels – Belgium T +32 (0)2 402 66 75 T +32 (0)2 402 64 87 T +32 (0)2 402 64 87 F +32 (0)2 402 66 65 F +32 (0)2 402 64 69 F +32 (0)2 402 64 69 [email protected] Rin s a Sofifons a www.besixred.be 100, Avenue des Communautés 100, Avenue des Communautés 1200 Brussels – Belgium 1200 Brussels – Belgium Modumat s a T +32 (0)2 402 66 75 T +32 (0)2 402 64 87 100, Avenue des Communautés F +32 (0)2 402 66 65 F +32 (0)2 402 64 69 1200 Brussels – Belgium T +32 (0)2 402 64 87 Ferme Blanche s a Leskoo s a F +32 (0)2 402 64 69 100, Avenue des Communautés 100, Avenue des Communautés 1200 Brussels – Belgium 1200 Brussels – Belgium S.G.T. s a T +32 (0)2 402 66 75 T +32 (0)2 402 64 60 7, Rue du Fort Elisabeth F +32 (0)2 402 66 65 F +32 (0)2 402 64 69 1463 Luxembourg G.D. Luxembourg Foncière de L’Ecluse s a Toison d’Or Leasehold s a T +352 29 51 29 100, Avenue des Communautés 100, Avenue des Communautés F +352 29 51 14 1200 Brussels – Belgium 1200 Brussels – Belgium [email protected] T +32 (0)2 402 64 87 T +32 (0)2 402 64 60 F +32 (0)2 402 64 69 F +32 (0)2 402 64 69 BESIX Real Estate Development – Wallonie s a Jette Village s a Toison d’Or Freehold s a 100, Avenue des Communautés 100, Avenue des Communautés 100, Avenue des Communautés 1200 Brussels – Belgium 1200 Brussels – Belgium 1200 Brussels – Belgium T +32 (0)2 402 66 75 T +32 (0)2 402 64 87 T +32 (0)2 402 64 60 F +32 (0)2 402 66 65 F +32 (0)2 402 64 69 F +32 (0)2 402 64 69

Investissement Léopold s a Nautea s a 15/17, Rue Godecharle 100, Avenue des Communautés 1050 Brussels – Belgium 1200 Brussels – Belgium T +32 (0)2 280 42 02 T +32 (0)2 402 64 87 F +32 (0)2 280 41 91 F +32 (0)2 402 64 69

Royale 120 s a Espace Rolin s a 100, Avenue des Communautés 100, Avenue des Communautés 1200 Brussels – Belgium 1200 Brussels – Belgium T +32 (0)2 402 64 87 T +32 (0)2 402 64 87 F +32 (0)2 402 64 69 F +32 (0)2 402 64 69 100

COLOPHON Editing: BESIX Group Communication Department Photos: Christophe Vander Eecken, Visual News, Marc Sourbron, Theo Schumacher Design and production: Link | mixed media communicatiebureau General info