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Uncertainty Clouds Market Overview p. 34 // International Market Analysis p. 34 // Past Decade’s International Contracting Revenue p. 34 // International Region Analysis p. 35 // 2014 Revenue Breakdown p. 35 // 2014 New Contracts p. 35 // Domestic Staff Hiring p. 35 // International Staff Hiring p. 35 // Profi t/Loss pg. 36 // 2014 Backlog p. 36 // Top 10 by Region p. 36 // Top 10 by Market p. 37 // Top 20 Non-U.S. International Construction/Program Managers p. 38 // Top 20 Non-U.S. Global Construction/Program Managers p. 38 // Chernobyl Reaches a Milestone p. 39 // How Contractors Shared the 2014 Market p. 40 // How to Read the Tables p. 40 // Top 250 International Contractors List p. 41 International Contractors Index p. 48 // Top 250 Global Contractors List p. 51 // Global Contractors Index p. 57 NUMBER 16 NUMBER HEAVY LIFTING Samsung C&T is part of the team building that is three lines, including 25 stations and 40 miles of track, of Riyadh Metro, located in Saudi Arabia. PHOTO COURTESY OF SAMSUNG C&T CORP. PHOTO COURTESY International Contractors UNCERTAINTY CLOUDS MARKET Falling oil prices, political turmoil and economic disruptions from Europe to China have international fi rms worried By Peter Reina and Gary J. Tulacz enr.com August 24/31, 2015 Ⅲ ENR Ⅲ 33 ENR0824-08312015_Top250_COV.indd 33 8/17/15 6:56 PM THE TOP 250 INTERNATIONAL CONTRACTORS 26.0% 24.0% Transportation Petroleum $135,717.85 22.4% $125,336.67 Int’l Market Analysis Buildings $116,699.85 (Measured $ millions) 10.4% Power $54,405.62 5.2% Industrial $26,875.96 2.6% 1.3% 4.7% Water 1.3% Sewer/Waste $ Other 0.2% 13,536.89 Telecom $6,943.08 $24,545.97 1.9% Hazardous $6,690.42 Waste Manufacturing $986.30 $9,811.23 SOURCE: ENR DATA. Comparing the Past Decade’s International $189.4 $224.4 $310.3 $390.0 $383.8 $383.7 $453.0 $507.5* $544.0 $521.5 Contractor Revenue 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 (in $ billions) *THE 2012 FIGURE IS FOR THE TOP 225 INTERNATIONAL CONTRACTORS. THE EXPANDED TOP 250 LIST FIRMS HAD A COMBINED REVENUE OF $511.1 BILLION. SOURCE: ENR DATA. Global contractors are doing well in the world market, mestic projects in 2014, up 4.3% from $871.50 bil- but signs of concern about economic stability are be- lion in 2013. ginning to accumulate. In early July, Saudi Arabia sold On a regional basis, Africa was the biggest gainer, its first issue of sovereign bonds in eight years to cover with international revenue from projects in Central projected budget deficits caused by falling oil prices. and Southern Africa growing 14.7% in 2014 over Russia on Aug. 10 announced its gross domestic prod- 2013. Strife-torn North Africa rebounded from several uct contracted by 4.6% in the second quarter of 2015, “International years of decline with 12.4% in international contract- again because of falling oil prices. About the same time, business is one ing growth. The U.S. market also showed strength, China devalued its yuan, causing worry across the of the reasons rising 5.7% in 2014 to $51.15 billion. we were able world’s financial markets. For large international to weather the On the other hand, the international contracting contractors, economic uncertainty does not bode well [Spanish market in Canada took the biggest hit, falling 13.5% for the market. economic] to $29.58 billion. Europe also saw a double-digit The uncertainties in the international construc- crisis.” decline, dropping 10.4% in 2014. The Asian-Austra- tion markets can be seen in the results of the ENR Miguel Jurado, lian and the Middle East markets both saw 6.3% Top 250 International Contractors list. On the ENR Chairman, FCC declines in international contracting revenue, while Top 250 International Contractors list, firms are Construcción SA the Latin American market fell 7.2%. ranked based on contracting revenue from projects Part of the Top 250’s overall decline in interna- outside of their home countries, measuring their pres- tional revenue can be attributed by the absence of a ence in international commerce. ENR’s Top 250 few large firms that did not participate in the survey Global Contractors list ranks contractors based on this year. For example, Korea’s Samsung Engineering total worldwide contracting revenue, regardless of Co. Ltd., which reported $7.1 billion in international the projects’ locations. revenue last year, did not participate. The ENR Top 250 International Contractors had Germany’s Bilfinger SE, which reported $6.85 bil- $521.55 billion in contracting revenue in 2014 from lion in international contracting revenue last year, also projects outside their home countries, down 4.1% did not participate. Bilfinger currently is in the process from $543.97 billion in 2013. The Top 250, as a of divesting itself of its contracting assets. In Decem- group, also had $909.26 billion in revenue from do- ber, it sold its part of its construction group to Swiss- 34 ENR August 24/31, 2015 enr.com ENR0824-08312015_Top250_story.indd 34 8/17/15 8:22 PM TECHNIP on July 6 announced a restructuring that includes a proposed #6 reduction in force of 6,000 staff in OVERVIEW light of a slow oil-and-gas market. Int’l Region Analysis 26.3% 15.2% Asia and Australia Revenue (in $ billions) Middle $137,406.53 (Measured $ millions) East $1,430.8 % 9.1 $79,026.08 Domestic Revenue South and 9.8% 19.1% International Revenue 4.5% Central Africa United Europe $909.3 North $47,433.13 States $99,805.65 $521.5 Total Revenue Africa $51,151.50 % $23,516.22 9.6 SOURCE: ENR DATA. 0.6% Latin 5.7% Caribbean America Canada $50,217.69 Islands New Contracts (in $ billions) $3,062.12 $29,580.12 Domestic New Contracts 0.1% $1,549.1 Arctic/ Int’l New Contracts $968.0 Antarctic Total New Contracts $350.81 $581.0 SOURCE: ENR DATA. Professional 88 Professional 96 Increase (Measured in Domestic 48 International Decrease 51 firms reporting) Staff Hiring Staff Hiring 83 77 Stayed the Same SOURCE: ENR DATA. based Implenia. Then, in June, Bilfinger sold its infra- falling sharply, says Stubler. “We see a long list of proj- structure division to Austria’s Porr AG. ects that are coming, both private and public.” The 235 metro-based Grand Paris program could generate $11 of the Top 250 Europe Still Building billion of rail work over the next decade, he estimates. sent in surveys For many large European contractors, the market is Many large European contractors believe that big- last year. upbeat. “Markets are still booming in terms of mega ticket infrastructure projects will bolster the market. infrastructure projects … in many places of the world For example, European Commission President and we see every year more and more,” says Jérôme 54.9% Jean-Claude Juncker has proposed to create a fund to Stubler, chairman, Paris-based VINCI Construction had increased guarantee infrastructure projects that may stimulate SA. The firm’s backlog now includes 54% foreign international $330 billion in projects over the next five years. “The work, up 5% from last year. revenue in Juncker package will most likely have a positive influ- For Spain’s FCC Construcción SA, international 2014. ence on our core markets, especially in regions with business is “one of the reasons we were able to weather high refurbishment needs in the infrastructure sector, the [Spanish economic] crisis,” says Chairman Miguel like Central and Eastern Europe,” says Thomas Birtel, Jurado. FCC’s portfolio includes projects in the Amer- 45.1% CEO of Austria’s Strabag SE. icas, Europe, the Middle East and North Africa. had lower VINCI’s U.K. focus is “more and more on [design- FCC’s group international sales last year accounted international build] projects where we can generate value by the for 44% of the total, 8% more than at the start of the revenue in ideas we have,” says Stubler. Otherwise, “it’s challeng- crisis in 2007, he adds. In construction, foreign sales 2014. ing to be profitable in U.K.” The U.K.’s “very good made up just over half the business unit’s total. profits of the old days” are over, agrees Peter Wallin, Germany’s Hochtief AG now is in better shape for Skanska’s chief financial officer. But demand “contin- international business, according to Chairman Mar- ues to be good,” adds Johan Karlström, CEO of Swe- celino Fernández Verdes. The firm has worked to den’s Skanska AB. eliminate risk from its balance sheet, sold non-core Bechtel Inc. last year completed one big railroad assets and “made significant progress” in reorganizing job in the U.K. and its involvement in the huge Lon- units in Europe and Asia Pacific. don Crossrail program is peaking. In looking for re- In Europe, the French market is recovering after placement work, “we have a pretty good footprint … enr.com August 24/31, 2015 ENR 35 ENR0824-08312015_Top250_story.indd 35 8/17/15 8:22 PM THE TOP 250 INTERNATIONAL CONTRACTORS The Top 10 by Region 1 ASIA 2 EUROPE 3 UNITED STATES Top 10 Revenue: $71,320.8 Mil. Top 10 Revenue: $64,416.4 Mil. Top 10 Revenue: $42,476.7 Mil. RANK RANK RANK 2015 2014 Sector’s Revenue: $137,406.5 Mil. 2015 2014 Sector’s Revenue: $99,805.6 Mil. 2015 2014 Sector’s Revenue: $51,151.5 Mil. 1 2 GRUPO ACS 1 1 STRABAG SE 1 1 GRUPO ACS 2 1 HOCHTIEF AKTIENGESELLSCHAFT 2 2 VINCI 2 2 HOCHTIEF AKTIENGESELLSCHAFT 3 3 BECHTEL 3 3 SKANSKA AB 3 3 SKANSKA AB 4 ** POWER CONSTRUCTION CORP.
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