The global top 200
21
july-august 2013
international
construction
NEWS REPORT
improved their standings, and there are two new entries at the
foot of the table.
Other national groups with significantlymore gainers than fallers
include the US, South Korean and Brazilian contractors. On the
downside, many European countries saw their contractors lose
more places than they gained, with the Spanish being particularly
notable with eight out of the 10 companies listed losing ground.
Similarly, seven out of nine dutch contractors lost places.
It is not a great leap to say that the fortunes of the various
national groups of contractors seem closely linked to the ups and
downs of their various domestic construction markets. Japanese
contractors have undoubtedly benefited from reconstruction
work following the 2011earthquake and tsunami, while in the
US the general market rebound is clearly having a positive effect.
Data from sources such as the US Census Bureau show the
residential market is bouncing back the strongest, and again this is
reflected in the fortunes of the country’s housebuilders. From the
highs of 2005 and 2006, this group of construction companies
has had a torrid time starting with the sub-prime mortgage crisis
that triggered the global recession.
However, they are finally seeing an improvement in revenues
and are improving their standings in the Top 200 as a result. The
country’s largest housebuilder, Pulte Group was up 11 places in
this year’s rankings to no. 77. Other gainers in the same field
include D.R. Horton – up 14 places to no. 98 and Lennar – up
28 places to no.90.
However, it is still a far cry from the height of the US residential
construction boom in the middle of the last decade. The 2006
edition of the Top 200 league table, for example, saw Pulte ranked
no.9 globally, D.R Horton no.10 and Lennar no.12.
Elsewhere in the Top 200, there were good gains for some of
Japan’s mid-sized contractors. Chiyoda, Penta-Ocean, TEC,
Toa, Takamatsu and Nippon Road all saw double-digit gains. In
addition, the general rise of Brazilian contractors was reflected
in the remarkable 72-place gain for MRV, the most improved
contractor in this year’s Top 200. It is also worth noting that
Odebrecht moved up seven places last year to no. 32, cementing
its place as Latin America’s largest construction company by a
significant margin.
There were 14 new companies in this year’s Top 200. The
highest placed was Japan’s Toyo Construction at no. 129, a
company which just missed-out on a place in the rankings last
year. However, most of the new additions were further down
the league table, with eight in the last ten places. As with Toyo
Construction, many of these are companies that were on the
fringes of the Top 200 last year, and which have come in and out
of the rankings over the last decade or so.
Next year?
With the US construction market continuing to recover and
the Japanese economy benefiting from ‘Abenomics’ stimulus
measures, the 2014 edition of the Top 200 could see further
improvements form construction companies in these two
countries. By the same argument, the lack of growth in Europe
could mean more stagnation for the region’s contractors.
But the movements of the major Chinese groups will be perhaps
the most closely watched. These should give an indication of
the health of the market and the impact of the fiscal tightening
measures that have been seen so far this year.
It seems most likely that a Chinese contractor will sit at the top
of the league table next year, and given the gap to Vinci, they
could occupy all three top places. It is difficult to see how in the
current global market situation things could be any other way.
Sales Company
Country 2012 Change
Website
(US$ million)
* = estimate
>
114
3100
Gilbane Building
*
US
84
30
115
3029
Mostotrest
Russia
107
8
116
2989
Astaldi
Italy
117
1
117
2983
Morgan Sindall
UK
101
16
118
2979
Heijmans
Netherlands 110
8
119
2975
Porr Group
Austria
119
120
2972
RZD Stroy
*
Russia
165
45
121
2959
Kier Group
UK
106
15
122
2947
Aecon Group
Canada
126
4
123
2942
Taylor Wimpey
UK
127
4
124
2914
Lemminkäinen
Finland
115
9
125
2883
Mota-Engil
Portugal
121
4
126
2876
Implenia
Switzerland 130
4
127
2875
OAS
*
Brazil
133
6
128
2864
Toyo Engineering (TEC)
Japan
167
39
129
2864
Toyo Construction
Japan
NEW
130
2862
Tokyu Construction
Japan
128
2
131
2854
Interserve
UK
124
7
132
2828
Impregilo Group
Italy
131
1
133
2787
Sigdo Koppers
Chile
155
22
134
2744
Maire Tecnimont
Italy
99
35
135
2738
Besix
Belgium
138
3
136
2727
TBI Holdings BV
Netherlands 122
14
137
2720
Glavstroy
*
Russia
136
1
138
2670
Maeda Road Construction
Japan
139
1
139
2560
Lanco Infratech
India
154
15
140
2548
China State Construction
Hong Kong
157
17
International Holding
141
2509
Persimmon
UK
143
2
142
2478
Hazama Ando
Japan
149
7
143
2470
M.A.Mortenson
US
142
1
144
2461
Okumura Corporation
Japan
151
7
145
2461
DEME
Belgium
144
1
146
2440
Compagnie D’Entreprises
Belgium
140
6
CFE SA
147
2380
McCarthy Building
US
147
148
2375
China Petroleum
China
129
19
/
Engineering & Construction
149
2330
Hensel Phelps
US
141
8
150
2320
J.E. Dunn Group
US
169
19
151
2313
Salini Costruttori
*
Italy
166
15
152
2271
Comsa EMTE
Spain
123
29
153
2264
Tekfen Holding
Turkey
174
21
154
2264
Hanjin Heavy Industries
South Korea 137
17
155
2207
Dongbu
South Korea 156
1
156
2192
Galliford Try
UK
159
3
157
2187
Homex
Mexico
188
31
158
2185
Salfacorp
Chile
177
19
159
2180
WBHO
South Africa 160
1
160
2154
Van Oord
Netherlands 146
14
161
2137
Punj Lloyd
India
153
8
162
2083
Granite Construction
US
161
1
163
2056
Max Boegl
Germany
152
11
164
2054
CTCI
Taiwan
173
9
165
2024
Gafisa
Brazil
189
24
166
2016
Toa
Japan
194
28
167
2005
Techint Engineering &
Italy
164
3
Construction
*
168
2000
DPR Construction
US
NEW
169
1968
LSR
Russia
186
17
170
1920
Brasfield & Gorrie
US
196
26
171
1920
Keller Group
UK
179
8
172
1883
Toll Brothers
US
NEW
