Top 10 construction companies in Europe 2022

The CE100, a financial analysis league table of European contractors, has been released by Construction Europe, revealing who the top 10 European construction companies are.

The CE100 is put together from a range of sources including audited annual accounts, companies’ own statements of revenues and information from third parties. (Photo: KHL)

Published every year, the report highlights the scale of the European construction sector, while also laying bare the impact supply chain issues, COVID-19 and the Ukraine/Russia conflict has had on construction.

Before revealing the top 10 construction companies in Europe, it is important to explain how the list is compiled.

Based on sales revenues from 2021, the CE100 is put together from a range of sources including audited annual accounts, companies’ own statements of revenues and information from third parties.

So, when taking into account revenues, here are the Top 10 European construction companies.

10. Bam Group

Starting off the top 10 construction companies in Europe is Dutch firm Bam Group.

Like many, if not all on this list, supply chain issues had hindered the company over the last 18 months, but it still managed to post revenues of €7.3 billion.

The company, which sold its German infrastructure company Wayss & Freytag earlier this year, retains its position from last year.

9. Acciona

Spanish company Acciona are the highest movers on the list having finished 13th last year, and announced revenues for 2021 of €8.1 billion.

An impression of Acciona’s S-19 Expressway project in northern Poland. (Photo: Acciona)

Acciona, which recently won a €226 million contract to build a section of Poland’s S-19 Expressway, replaces Italy’s Saipem, the only country to drop out of the top 10.

Acciona is also the only company to break into the top 10 of the CE100.

8. Balfour Beatty

The sole representative of the UK in the top 10 is Balfour Beatty, which posted revenues of €8.7 billion to move up one place to eighth, the second year in a row it has climbed the table.

Despite a slight downturn in revenue when compared with last years list (when it generated €8.9 billion), the company were awarded several key projects which helped it to move up a place this year.

More recently, the company said it is well placed to capitalise on future infrastructure projects as it sets its sights on a strong end to 2022.

7. Skanska Group

Skanska will design and build the UK’s A46 Newark bypass. (Photo: Gov.uk)

Sweden-based Skanska Group move down one place from last year, with reported revenues of €15.1 billion.

2021 saw the company involved in several major projects, including the €330 million contract to build a raw water tunnel in the Oslo municipality of Norway.

6. Strabag

Strabag swap places with Skanska on the CE100 and reported revenues of €15.2 billion for 2021, up by almost €500 million.

The Austrian company, which recently pledged to become climate neutral by 2040, were boosted by a €111 million agreement to build a new stretch of motorway in Romania. 

5. Eiffage

Signing ceremony for the Amition Logement programme. (Photo: Eiffage)

As we move in to the top five, three of which are based in France, we start with civil engineering firm Eiffage, which maintains its position from CE100 in 2021 with revenues of €19.1 billion.

Eiffage started 2022 in the same vein after it signed a €7 billion agreement with the French government to manage the country’s Armed Forces housing stock for 35 years alongside Arcade Vyv.

The companies will work together under the consortium name Nové, on the Ambition Logement (Housing Ambition) programme.

4. Hochtief

At fourth in the CE100 is German construction firm Hochtief, which holds its place from 2021 with revenues of €21.3 billion, some €2.2 billion more than Eiffage in fifth.

The company were aided by the awarding of a contract to undertake extensive expansion work at the Port of Rotterdam, which is expected to run until 2024. 

3. ACS 

Madrid-based ACS generated revenues of €27.8 billion in 2021, however, that wasn’t enough for it to hold on to second in the CE100.

According to ACS’ CEO, Florentino Perez, the excellent performance of the company’s businesses saw it achieve its biggest net profit ever of €3.0 billion.

Ordinary Net Profit for 2021 amounted to €720 million, 32.9% more than previous year, while construction sales amounted to €25.8 million, down by 0.7% compared to the previous year.

2. Bouygues’ Construction Divisions

Perhaps a sign of the stability of Bouygues’ Construction Divisions is the recent €7.1 billion acquisition of construction and services provider Equans.

An even bigger indicator of the healthy state of the French energy and construction company, which swaps places with ACS on the CE100, is its revenues which have increased from €34.6 billion in 2020, to €37.5 billion in 2021.

2021 also saw the company launch a digital work-study campaign to attract new workers to the construction industry.

1. Vinci

Vinci’s illustration of the proposed B247 federal road construction project. (Photo: Vinci)

Extending its lead at the top of the CE100 is France-based firm Vinci, which announced revenues of €49.8 billion for the year ending 2021, some €12.3 billion more than second place.

Having seen its revenues drop by €5 billion on last years list, 2021 represented significant improvement for Vinci with revenue growth of over €6 billion.

Backed up by projects such as the €500 million contract to build the B247 highway in Germany, the company were able to show marked recovery.

The company saw Q3 revenues for 2021 return to pre-covid levels for the first time since the pandemic. In the first nine months the company posted €35.8 billion – up 3% compared with the same period of 2019.

For this year, the company acquired Cobra IS, the energy arm of leading Spanish contractor ACS in a €4.9 billion deal.