Introduction by Bruno DUPETY
Bruno DUPETY. Chairman.
Soletanche Bachy’s activities fell in 2009 by 25 % to 1,139 million €, mainly due to the collapse that affected Central and Eastern European markets and to the declining Middle Eastern markets, especially Dubai. We have also recorded a reduced level of operations in France (completion of the Le Havre port project), in the United Kingdom and in Spain. On the other hand, business increased in the United States, Latin America and Asia.
Against a generally difficult background for the construction industry, Soletanche Bachy, like other ground related sectors, has particularly suffered. Nevertheless, we reported a 3.8% operating profit after costs for the consolidation and reorganization measures required.
2009 and, more especially, the start of 2010 proved fruitful with over one billion dollars of orders received and an order book that has reached an historically high level of more than 1.2 billion €. These projects are located throughout the dynamic areas of the world where we are traditionally present and involve principally investments in infrastructure and energy. However, there are still problems in crisis-torn regions and new restructuring measures will be put in place in 2010.
As a result of these new contracts, 2010 will be a year where we will see a slight growth in our activity. This will motivate us to redouble our efforts to improve our results. Work on the Company’s fundamental issues will be intensified: our site operations will form the core of our concerns where safety and manpower, innovation, research and development and equipment are aspects of our work that demand our utmost attention.
We must constantly move forward. We have the means to do so.
We must show our determination to be stronger faced with the challenges that await us.
