ENR:Revenue Is Up But Top International Contractors Remain Cautious

国际工程承包商:营业收入提升但仍保持谨慎

信息来源: 作者:ENR 编译:任敏 田宇 浏览数: 发布时间:2013-05-03


Despite some global upheavals and uncertainty, the world construction market showed surprising strength for large contractors in 2011. After being flat in 2009 and 2010, revenue for large international contractors grew last year. However, big contractors working in the international market are expressing some caution about what the future holds.
尽管2011年,全球经济存在动荡和不确定性,大型承包商在全球建筑市场表现出惊人的力量。经历2009、2010年的平平表现后,大型国际承包商的收入在2011年终于出现增长。尽管如此,大型承包商对于国际市场的未来依然保持谨慎。
 
The strength of the international market in 2011 can be seen in the results of ENR's Top 225 International Contractors list. As a group, the Top 225 generated $453.02 billion in 2011 contracting revenue from projects outside their home countries, up a healthy 18.1% from in 2010.
2011年国际承包市场的有力表现可以从ENR国际225强承包商的经营业绩中得到体现。国际承包商225强企业整体在海外项目上的合同收入达到4530.2亿美元,与2010年相比,获得一个相当健康的增长率18.1%。
 
Part of this surge may have come from pent-up demand from a stagnant market over the past three years. Combined revenue from the ENR Top 225 reached $382.44 billion in 2008 revenue, inched higher to $383.78 billion in 2009 and then dropped to $383.66 billion in 2010.
取得这一增长的部分原因可能源于过去三年由于市场不景气而被压抑的需求释放。2008年国际承包商225强的国际营业额为3824.4亿美元,2009年小幅增长至3837.8亿美元,在2010年又跌至3836.6亿美元。
 
There was some tumult among the Top 225 in the past year. Most significant was Spain's Grupo ACS's effective takeover of Hochtief AG, despite Hochtief's resistance. ACS achieved majority ownership of the German giant in spring 2011.
2011年225家国际承包商发生了一些动荡。最重要的事件莫过于西班牙建筑公司ACS对豪赫蒂夫股份公司(Hochtief AG)的有效收购,尽管后者并不情愿,2011年春季,ACS获得了这家德国建筑巨擘的绝大部分股权。
 
Hochtief now is settling down to its control by ACS. Until ACS secured a majority interest in Germany's leading contractor last year, it was a relatively passive shareholder, says Hochtief's CEO Frank Stieler. ACS has since become "very engaged," but decisions are still through consensus, he adds.
目前,Hochtief正在适应ACS的掌管。Hochtief的CEO Frank Stieler表示,ACS在没有获得绝对控制权之前,是个相对消极的股东,但自从获得控制权后,就变得“十分积极”。不过他补充道:决策还是在取得共识后再制定。
 
Since the acquisition, there has been "a much higher focus on infrastructure" centered on transportation, urban development and energy, says Stieler. He is skeptical about prospects for new nuclear-power work and believes renewable energy has a big future. Hochtief is investing in offshore wind farms, both as a developer and contractor. At the same time, Hochtief is reducing its interest in building construction. The sector has "much lower market-entry hurdles, [so] competition is more aggressive," says Stieler.
Stieler表示,收购案后,Hochtief公司“更加重视基础设施”,尤其是关注交通、城市开发和能源方面。他对于新型核能的前景表示怀疑,认为可再生能源市场有着很大前景。Hochtief正在投资离岸风能发电厂,其既是项目的开发商也是承包商。同时,Hochtief正在减少对房建项目的关注,Stieler表示,这个领域“进入门槛越来越低,因此竞争也日益激烈” 。
 
Another takeover battle is being waged in Italy. In a July proxy battle, the Salini family, which owns Salini Costruttori SpA, was able to use its 30% stake of Impregilo SpA and a shareholder campaign to take over Impregilo's board of directors from the Gavio family, which also owns about 30% of Impregilo's stock. Salini has been campaigning to merge the two large Italian contractors, but lawsuits over the shareholder vote may delay any final decision.
另一个收购案发生在意大利。在七月的代理权争夺战中,Salini家族,也是意大利第三大承包商撒利尼建筑公司(Salini Costruttori)的所有者,利用手上对意大利英波吉诺公司(Impregilo)30%的股权及股东竞选的机会,从同样持有30%股权的Gavio家族手里接管Impregilo董事会。Salini一直动员将两大意大利承包商合并,不过对股东投票的诉讼可能会拖慢最终的合并决策。
 
Because of the debt crisis, "the situation in Europe has deteriorated," says Yves Gabriel, chairman and CEO of France's Bouygues Construction. But for Bouygues, the French market "is stronger than in other European countries." While demand is high in the Paris region, elsewhere "large contracts remain few and far between," Gabriel notes.
由于债务危机,法国布伊格(Bouygues)建筑公司的董事会主席及CEO Yves Gabriel 表示“欧洲形势恶化”。但对于Bouygues而言,法国市场“比欧洲其他国家更好” 。Gabriel表示,巴黎地区的需求依然很旺盛,其他地区“大型建筑合同依然很稀少” 。
 
France accounts for over half of VINCI Construction's business. "We have been growing and our backlog is still higher," says VINCI's chief operating officer, Bruno Dupety.
法国市场占据了万喜(VINCI)经营的半壁江山。VINCI的首席运营官Bruno Dupety表示“我们的营业收入在增长,存量合同额依然很高”。
 
Oil-rich Norway is booming, and projects there "are getting more and more complex," says Johan Karlström, president and CEO of Sweden's Skanska A.B. "There is growing interest from international competition," he adds. However, he notes there has been a lull in civil construction orders from Sweden. "All the major players from Europe are here," he says.
石油丰富的挪威市场逐步兴旺,当地项目“越来越复杂”,瑞典斯堪斯卡(Skanska)的总裁兼CEO Johan Karlström表示,“市场对国际竞标逐步感兴趣”。但他也表示,对于瑞典民用建筑市场,这种需求相对平静,“因为欧洲的主要选手都在这里。
 
Hochtief's sales have continued to grow in Germany. But even Europe's economic powerhouse is vulnerable to the crisis in the euro zone, with construction expected to plateau this year, Stieler says.
Hochtief在德国的营业额依然在增长。Stieler表示,虽然欧元区内,欧洲经济体对危机相对脆弱,但建筑市场今年仍将保持相对平稳。
 
Public spending cuts and private-sector uncertainty make the U.K. market "very challenging," adds Ian Tyler, CEO of London-based Balfour Beatty plc. The U.K. government's offer last month of loans and guarantees for infrastructure projects helps, he says. But "while they are doing that, they are delaying decisions" on energy and airports investment, he adds. Balfour Beatty's recent shedding of hundreds of U.K. staff members was not a response to the market but a long-term repositioning after 10 years of growth, says Tyler.
总部位于伦敦的英国建工集团(Balfour Beatty)的CEO Ian Tyler表示:公共支出的削减和民间投资不确定使整个英国市场“很有挑战性”。但上个月英国政府为基础设施项目提供的贷款和担保将会对此有所缓解。但他补充道,“他们这样做,只是在拖延在能源、机场上的投资决定”。同时Tyler解释:Balfour Beatty最近上百名员工的离职不是对市场的反应,而是经过十年增长后一次长期的重新定位。
 
Eastern Europe's construction market is now "much more depressed because of the financial crisis," says Dupety, citing the Czech Republic as particularly challenging. However, with highways and infrastructure work, "Poland is still doing well," while Romania and the Ukraine are "not too bad," he adds.
东欧的建筑市场目前“受金融危机影响,十分低迷”,VINCI的CEO Dupety表示,并指出尤其是捷克面临的挑战最大。他补充道:有公路和基础设施项目在,“波兰表现还不错”,罗马尼亚和乌克兰“也不算太差”。
 
For Skanska, Poland is in "very good shape" and increasingly attracting international competition, says Karlström. "The Chinese tried to enter the market and backed out," he adds, referring to the Poland highway authority's cancellation of a contract with the Chinese Overseas Engineering Co. "[Chinese contractors] cannot behave in the same way as they do at home or in emerging economies," he says. "If they want to enter the European or American markets, they have to buy a [local] player."
Karlström表示,对于Skanska来说,波兰“形势不错”,但吸引了日益增加的国际竞争。他表示,“中国承包商意欲进入但又退出了” ,意指波兰公路当局取消了与中铁建旗下的中国海外工程有限公司的合同。他表示,“(中国承包商)不能像他们在国内或在新兴经济体市场一样开展业务”,如果他们想要进入欧洲或美洲市场,必须收购一家(当地)企业。”
 
Signs of Life in Russia
俄罗斯的生机
 
In Russia, VINCI already is working on the environmentally controversial Moscow-St. Petersburg motorway project and targeting more civil contracts there, says Dupety. Bouygues also is "monitoring the development of this market with interest," adds Bouygues' Gabriel.
VINCI的CEO Dupety说,在俄罗斯,VINCI还在承建一项具有环境争议的莫斯科-圣彼得堡高速公路项,并且瞄准了更多的民事工程。Bouygues的 Gabriel表示Bouygues也“正饶有兴趣的监测着这个市场的发展”。
 
For some international contractors, Russia is beginning to pay off. "Between 1998 and 1999, Russia was in economic breakdown ... many international contractors left the Russian market, but we have decided to stay," says Mehmet Okay, a board member of Turkey's ANT Yapi.
对于一些国际承包商,俄罗斯市场已开始有所回报。“在1998至1999年间,俄罗斯正处于经济崩溃…很多国际承包商退出了俄罗斯,但我们决定留下来。”土耳其ANT Yapi的董事会成员Mehmet Okay这样回忆。
 
Having completed the 990-ft-tall City of Capitals Moscow Tower in 2010, Okay says ANT Yapi now is working on Plot 16, the IBC Tower in the Moscow City Zone. Plot 16 consists of mixed-use twin towers designed by Skidmore Owings & Merrill in the U.S. One of the towers is planned to reach 1,082 ft.
2010年建成了990英尺高(约302米)的首都之城莫斯科塔,Okay说ANT Yapi正在莫斯科城市区的16地块建设IBC大厦。16地块包括了由美国最大的建筑师-工程师事务所之一SOM建筑设计事务所(Skidmore Owings & Merrill)设计的混合用途的双子塔,其中一座的高度将达1082英尺(约330米)。
 
The concern about Europe's fiscal health has caused large contractors to search out new markets. "The makeup of bidder lists has changed as companies have started to pursue markets and projects they would not have considered in the past," says K. Burak Ozselcuk, business development manager for Turkey's TAV Construction. He says international contractors are now more financially exposed from increased risk, squeezed margins and reduced backlogs.
对欧洲财政健康度的担忧使得很多大型承包商寻找新的市场。“竞标的企业名单与以前相比有较大的变化,因为很多企业开始进入之前没有考虑过的市场和领域。” 土耳其TAV 建筑公司的业务经理K. Burak Ozselcuk 这样形容。他说,现在国际承包商承受着更大的财政压力,因为风险增加、项目利润空间被压缩、手中持有的项目存量在减少。
 
The world's large emerging markets are less attractive to major contractors than might be expected. India is "booming in terms of projects," says VINCI's Dupety. "But you need to be very cautious. You need to be very patient," he says. Bouygues, while tracking building prospects, is "prudent and favouring a very selective approach," adds Gabriel.
全球较大的新兴市场对大多数承包商而言并没有想象中那么诱人。印度“项目增长迅速”,VINCI的Dupety说道,“但你必须十分小心,还需要非常耐心”。Gabriel则表示 Bouygues在寻找建筑项目机会时,“非常慎重,并且倾精心挑选项目。”