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May 30, 2018 12:00 am | FILED UNDER: business

Profits Up At VCES Construction

By ČTK Workers on a building construction site

Prague, May 30 (CTK) – Czech construction company VCES, a part of French group Bouygues, managed to generate a Kc2.2m profit in 2017, after making a Kc63.3m loss in 2016, and its sales rose annually by a half to Kc2.95bn, the company said in its annual report listed in the Register of Companies.

 

The 2016 business result was hurt by some loss-making projects, the company said in the report.

 

Construction output accounted for 99.5 percent of the company’s sales.

 

Building a paint shop for the new production premises of Jaguar Land Rover car maker in Nitra, southern Slovakia, had a significant impact on the bottom line.

 

However, the completion of some loss-making projects from 2013-2015 affected the business result negatively, the report said.

 

Last year, VCES secured several larger deals especially in industrial construction, including Nexen Tire’s plant in Zatec, northern Bohemia.

 

VCES was established in 1991, with the French group buying into the company in 2006.

 

At the end of last year, VCES employed 424 people, which is 21 fewer annually.

 

Metrostav was the leader of the Czech construction market last year in terms of sales revenues, generating Kc19.6bn in sales and Kc392.9m in net profit.

 

Business results of VCES in 2003-2017:

 

Year

Net Profit/Loss (Kc millions)

Sales (Kc billions)

2003

82.39

3.84

2004

59.86

3.11

2005

38.49

3.79

2006

23.88

4.18

2007

82.82

3.34

2008

1.66

3.54

2009

4.21

2.39

2010

3.01

1.90

2011

25.49

1.95

2012

53.91

3.41

2013

0.13

2.23

2014

-62.39

1.64

2015

22.50

2.54

2016

-63.26

1.96

2017

2.17

2.95

 

Source: Register of Companies

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