Top 10 construction companies in Europe 2023

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.

Published every year, the report highlights the scale of the European construction sector, while also laying bare the impact of 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.

Digital rendering of the planned urea plant (Image: Webuild)

Based on sales revenues from 2022, the CE100 is put together from a range of sources including audited annual accounts, companies’ statements of revenues and information from third parties.

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

10. Saipem

Kicking off the top 10 construction companies in Europe is Italian firm Saipem who have moved from twelfth place to tenth. This is the largest jump in this year’s CE100.

Earlier this year, Saipem and Clough closed a deal to build Australia’s biggest urea plant.

9. Balfour Beatty

Balfour Beatty, which previously held the eighth position, has dropped to ninth place. 

Despite the drop, the UK-based civil engineering company said that they are ‘strongly positioned’ thanks to national plans to transform critical infrastructure in energy and transport.

That’s according to the company’s chief executive Leo Quinn who unveiled a 9% increase in revenue to £4.5 billion (US$5.7 billion) for the first half of 2023.

The Acciona-Azvi JV will build a section of Spain’s Murcia-Cartagena high-speed rail line (Photo: Acciona)

8. Acciona

Up one from the previous CE100, Acconia have climbed to eighth place. The Spain-based company has increased its €8.1 billion turnover to €11.1 billion. 

Earlier this year, a joint venture led by the Spanish contractor won a €130 million contract to construct a 17.7km-long section of the Murcia-Cartagena high-speed rail line.

7. Skanska

Skanska has maintained its seventh-place position for another year, despite reporting flat revenue and a decline in profit in the third quarter of its financial year.

The company broke ground this year on its first mass timber building in Cincinnati.

6. Strabag

Remaining in sixth place for another year, Strabag’s order backlog passed the €24 billion mark for the first time in May.

The Austrian company has gone from a turnover of €15.2 billion in 2022 to €17 billion. The company recently completed a ‘world record’ for the longest single bored tunnel drive.

Map of the Grand Paris Express network

5. Eiffage

As we begin looking at the top five in the CE100, French construction giant Eiffage remains firmly in fifth place. Two multi-billion euro deals were signed in Q4, marking a significant year for the company. 

Through its subsidiary Eiffage Génie Civil, the company has signed a €4 billion contract with EDF to undertake primary civil engineering works for the inaugural pair of EPR2-type nuclear power plants at the Penly site, near Dieppe in France.

More recently, the France-based company won a €2.54 billion deal to design and build a section of the line 15 East of the multi-billion-Euro Grand Paris Express project.

4. Hochtief

In fourth place in the CE100 is German construction firm Hochtief, which holds its place from last year with revenues of €25.8 billion, some €5 billion more than Eiffage in fifth.

This year has seen Hochtief subsidiary UGL win US$393 million in lithium and energy contracts in Australia.

3. ACS

Madrid-based ACS Group generated revenues of €33.6 billion in 2023, and managed to hold its place at number three for a consecutive year.

ACS Group reportedly obtained a net profit of €576 million in the first nine months of 2023, 19.9% higher than the previous year, attributed to the good operating and financial performance of the construction sector.

(Photo: Mark via AdobeStock - stock.adobe.com)

2. Bouygues Construction Divisions

Bouygues Construction Divisions remains in second place with an annual turnover of €44.1 billion, a considerable increase compared to the French giant’s €37.5 billion turnover in the CE100 ranking in 2022.

The company recently won a €468 million contract to extend the Tung Chung line of the metro in Hong Kong.

1. Vinci

The impressive growth of Vinci, at the top of the list, is a major factor in this result, with the company leaping up from revenues of €49.8 billion last year, to this year’s eye-watering €61.7 billion.

During 2022, Vinci resoundingly recovered from the impact of Covid-19, with its construction division reporting very strong business levels and an improved margin, despite the higher costs and supply chain difficulties that were continuing from the previous year.

Vinci Energies continued to grow its business, while the integration of the recently-acquired renewable energy company Cobra IS included the award of major new contracts.