These 12 months, unprecedented in the challenges they imposed on us, demonstrated BESIX Group’s resilience in the difficult first half of the year, and then its great ability to bounce back in the second. We are both proud of this and extremely grateful to the Group’s employees, who have remained true to our values, including excellence, unity and passion.
RIK VANDENBERGHE
CEO of BESIX Group
Our healthy financial situation, our diversified activities and our outstanding expertise allow us to look to the future, and in particular to the year 2021, with optimism. In each of our markets, we are ideally positioned to actively participate in the post-Covid-19 recovery and economic upswing, and offer our clients first-class solutions for their projects across the globe.
JOHAN BEERLANDT
Chairman of the Board of Directors BESIX Group
Message from the CEO of BESIX Group
Dear Readers,
In 2019, BESIX Group and its entities began, continued or completed hundreds of construction projects, on five continents. The multiple achievements presented in the pages of this Activity Report are representative examples of them. The Group’s 14,000 employees have once again demonstrated their talent, passion and intelligence, showing to our clients and partners the reliability of our group and the excellence which is our main purpose. I would like to congratulate them and thank them with all my heart.
More than ever, BESIX Group will need their qualities and their dedication in the months to come. In March 2020, many worksites were halted or slowed down due to the coronavirus pandemic which has spread around the world. Our first priority has been the health of our employees, their families and their respective communities, as well as actively participating in the various initiatives taken by the states in which we are present.
The second priority is the actions we are taking inside BESIX Group in order to pass through the difficult economic conditions that will follow this pandemic. Inevitably, the financial results for 2020 will suffer.
We are nonetheless confident in our group’s ability to overcome the difficulties and challenges that this crisis imposes. In addition to its employees, BESIX Group can rely on its clear strategy, its sense of entrepreneurship, as well as its financial health and operational expertise.
After four consecutive years of growth, BESIX Group closed 2019 with a record turnover of €3.3 billion and an order book of €4.8 billion, also a record. On the other hand, the consolidated net profit, at €42.2 million, is significantly lower than was forecast. Our net cash position is increasing again and our solvency ratio has been above the industry average for many years.
This financial solidity, combined with the first-rate expertise we have developed in recent years in future-oriented sectors, will help us to face the upcoming headwinds.
This forward-looking approach is demonstrated by the cutting-edge infrastructures – road, marine, airport and rail, as well as water and waste treatment – built by BESIX Group in 2019, some of which we also designed and financed, and for which we will provide operations and maintenance for decades.
This year we have also designed, built and developed high-quality buildings of various types, housing and offices in particular, as well as sports and logistics facilities. To these achievements we must also add the many specialist trades in the group’s subsidiaries, some of which contributed significantly to our result.
The pages of this activity report give a clear overview of our achievements both in our core business, that is to say construction, and in our two other major activities, real estate development and concessions. Real estate development continues to perform well with record turnover in 2019, while the concessions activity has achieved good results, particularly in the Middle East.
We hope you enjoy discovering them through the following chapters.
Another specificity that makes our group stands out in the sector, is our internal Engineering department. It is also thanks to these in-house experts that we are able, today, to meet the expectations of our clients, offering them unique Value Engineering solutions and undertaking projects of unprecedented scale and complexity.
BESIX Group’s investments in innovation are also starting to bear fruit. In 2019, we started our 3D concrete printing activities, experimented with promising new technologies on our sites, and achieved strong performance in terms of sustainability and circularity, especially in the building sector. We have constructed energy-neutral infrastructure and a new generation smart building, to which are added several promising research programmes in which we participate.
Our strong operational skills coupled to our decade-long investment in new knowledge constitute a pledge of the future. Even if it will be difficult, BESIX Group is today equipped to overcome the economic consequences of the coronavirus crisis, and then to continue to grow. We will achieve this by retaining, at the centre of our actions, the values of our group – excellence, passion, unity, co-creation and respect – and by being faithful to our purpose: «Excel in creating sustainable solutions for a better world.»
Thank you for your interest in BESIX Group and in the extraordinary projects that we are carrying out in collaboration with our clients and many partners.
Happy reading,
RIK VANDENBERGHE
CEO of BESIX Group
Message from the Chairman of BESIX Group
Dear Readers,
In 2019, BESIX Group celebrated its 110th anniversary.
During these eleven decades, BESIX and its entities have provided Europe, and in particular the Benelux, with state-of-the-art buildings and infrastructure. Many a time we have stood at the forefront of progress in our business sectors. In the Middle East, through our subsidiary Six Construct, we have been actively contributing to the spectacular development of the Arabian Peninsula, as early as 1965, when only few companies were keen on venturing in this region of the world. From Australia to Africa, we have built the reputation and quality brand of BESIX and its subsidiaries.
We have always been curious to experiment, to dare and to be innovative; often having the courage to do what no one else had ever done before us. The world’s tallest skyscraper, harbours or quay walls in hardly-accessible remote locations, a stadium within a limited schedule like never done before. Finally, in all circumstances, we have made sure that our projects are responding to the expectations of our clients. The year 2019 again provides multiple examples, as evidenced in this Activity Report.
Throughout its history, BESIX Group has experienced many crises, economic troubles and wars. The strength of BESIX has always been, not only to overcome them, but above all to transform them into opportunities. For instance, today we are recognised worldwide as one of the most performant companies in the maritime sector. BESIX acquired this expertise immediately after World War I, by committing to rebuild Belgium’s ruined canals and locks, to build new ones and carry out the largest infrastructure projects in the country.
The same goes for the period from World War II to the first Gulf War, and from the economic crisis of 1929 to the one of 2008. BESIX Group has always bounced back.
Again, at the start of 2020, we have entered a new time of crisis. Its origin this time is public health-related and it will undoubtedly have deep economic consequences. The coming months will be challenging and for BESIX it will certainly be no exception. However, the Board of Directors and I remain confident. Because if there has been one constant in the history of BESIX Group, it is that of having always employed the most talented, intelligent staff and workers, who are always keen to take up the challenge and explore new paths. It is they who, over the decades, have enabled our group to dare and excel. In 2020, from senior management to workers, BESIX Group can count on the best and I have tremendous confidence in them. Together, we will not only survive this crisis, but will transform it, I am convinced, into new opportunities.
JOHAN BEERLANDT
Chairman of the Board of Directors BESIX Group
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January 2020
See all January milestonesBESIX 3D sets a record by cladding BESIX-Six Construct’s new headquarters in Dubai (UAE) with the world’s largest 3D printed concrete façade.
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February 2020
See all February milestonesQueensland Country Bank Stadium, built by BESIX Watpac, is completed. This Australian stadium is a world-class venue with 25,000 seats.
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March 2020
See all March milestonesWith the outbreak of Covid-19, BESIX adapts its ways of working to the safety measures taken by the different authorities and to its own specific risk analysis. In all 27 countries where it is present, BESIX keeps carrying out its missions and demonstrates resilience.
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April 2020
See all April milestonesAt the Deep Tunnel Storm Water System project in Dubai (UAE), BESIX-Six Construct completes the second tunnel breakthrough. This tunnel complex, designed for rainwater and groundwater, will drain 40 % of Dubai’s urban area.
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May 2020
The waters from the La Mé River flow for the first time into the drinking water treatment plant. BESIX is responsible for carrying out the civil engineering works of the plant that will provide drinking water to 1.5 million Ivorians.
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June 2020
See all June milestonesLantis, the authority in charge of the mobility projects in the Antwerp region (Belgium), awards the contract for the construction of the Scheldt tunnel to the JV COTU, composed of BESIX and several partners. This tunnel will be the most important connection element in the Oosterweel link that will close the Antwerp Ring Road.
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July 2020
See all July milestonesBESIX Group subsidiary Van den Berg is selected by the Belgian Buildings Agency and Brussels Energy to connect the Laeken Royal Palace and greenhouses to the district heating network fed by the nearby waste incinerator. The objective is to reduce the estate’s ecological footprint and to lower heating costs.
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August 2020
See all August milestonesIn Dubai (UAE), the first panels of the Uptown Tower’s façade, designed by the experts from BESIX, are put in place. This 340-metre high tower will offer a breathtaking view of Dubai’s waterfront and iconic skyline and will meet the highest environmental standards for high-rise buildings.
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September 2020
See all September milestonesFor the second BESIX Cleanup Day, BESIX Group colleagues from construction sites and offices all around the world collect 2,000 tons of waste in their communities.
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October 2020
See all October milestonesBESIX delivers the thoroughly renovated and upgraded Manhattan building in the Brussels business district to client Victory (Belgium). This office complex was designed and built to meet the highest sustainability standards.
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November 2020
See all November milestonesThe construction works of the Rail Baltica Central Hub in Riga begin (Latvia). BESIX and its partner can now bring the D&B concept to life, including a new central station building, a major railway bridge and various rail infrastructures. The project aims to integrating the Baltic States in the European rail network.
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December 2020
See all December milestonesThe first steel elements of the southern bridge are erected on the Vistula Spit project site (Poland). Reinforced concrete works are underway on the northern bridge and the construction of the breakwaters is progressing swiftly.
January 2020
Rijkswaterstaat, the Dutch transport authority, awards the DBFM project of the A12-A15 Highway (ViA15) to the JV GelreGroen, composed by BESIX and partners. The ViA15 project will improve traffic flow, traffic safety and regional quality of life.
Bush fires in Australia become the largest wildfires in the country’s history. Many of BESIX Watpac colleagues contribute courageously to the national effort to fight this natural disaster. Within the Group, initiatives are taken all over the world to raise funds, particularly for wildlife.
BESIX 3D sets a record by cladding BESIX-Six Construct’s new headquarters in Dubai (UAE) with the world’s largest 3D printed concrete façade.
February 2020
BESIX Group is certified as a Top Employer 2020 by the Top Employers Institute. Top Employer-certified organisations are assessed and guarantee the very best working environment through progressive HR policies in which people are at the centre.
BESIX is awarded the ISO 19650-2:2018 certification, the world’s first international standard for Building Information Management (BIM).
Queensland Country Bank Stadium, built by BESIX Watpac, is completed. This Australian stadium is a world-class venue with 25,000 seats.
March 2020
BESIX Foundation invests for the first time in a social impact bond for the ‘Back on Track’ project. This project provides support for young adults leaving detention in West and East Flanders (Belgium) and helps them to ‘get back on track’.
With the outbreak of Covid-19, BESIX adapts its ways of working to the safety measures taken by the different authorities and to its own specific risk analysis. In all 27 countries where it is present, BESIX keeps carrying out its missions and demonstrates resilience.
April 2020
At the Deep Tunnel Storm Water System project in Dubai (UAE), BESIX-Six Construct completes the second tunnel breakthrough. This tunnel complex, designed for rainwater and groundwater, will drain 40 % of Dubai’s urban area.
BESIX Watpac completes the AU$ 135 million expansion of the Casey Hospital in Melbourne (Australia), boosting capacity for Victoria’s healthcare system. Works included the finalisation of design and the construction of the 13,000 m² expansion.
May 2020
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June 2020
The 100th segment of the Shindagha Bridge in Dubai (UAE) is placed. The first segment of the bridge had been cast only three months earlier, in March.
Lantis, the authority in charge of the mobility projects in the Antwerp region (Belgium), awards the contract for the construction of the Scheldt tunnel to the JV COTU, composed of BESIX and several partners. This tunnel will be the most important connection element in the Oosterweel link that will close the Antwerp Ring Road.
Nye Veier, the Norwegian road authority, selects the proposal submitted by the joint venture of which BESIX is part for the E6 Moelv-Roterud infrastructure project. This project consists of the design of a more than one kilometre long timber structure bridge over Lake Mjøsa and an 11-kilometer long section of four-lane motorway.
The construction of the new Saint-Denis Pleyel metro station is awarded to BESIX France. This station will be the largest station of the Grand Paris Express. The contract, worth over 100 million euros, includes works to develop the station, covering a total area of 34,000 m² spread across nine levels – four of these below ground.
July 2020
BESIX Group subsidiary Van den Berg is selected by the Belgian Buildings Agency and Brussels Energy to connect the Laeken Royal Palace and greenhouses to the district heating network fed by the nearby waste incinerator. The objective is to reduce the estate’s ecological footprint and to lower heating costs.
BESIX-Six Construct in partnership with Mota-Engil S.A. is selected to build the marine facilities of the Mozambique LNG Gas Development Project. The terminal comprises one of the world’s longest jetty structures, comprising mooring facilities for the largest LNG carriers, and a material offloading facility for cargo ships.
BESIX Watpac delivers a new 12,500 m² hospital for the Maranoa Region (Australia). The project has been notable for the high level of participation from local business communities.
August 2020
The upgrade of the Brussels Airport logistic hub for international trade is completed (Belgium). This state-of-theart infrastructure is specifically suited for the handling of high-quality and temperature-sensitive products.
In Dubai (UAE), the first panels of the Uptown Tower’s façade, designed by the experts from BESIX, are put in place. This 340-metre high tower will offer a breathtaking view of Dubai’s waterfront and iconic skyline and will meet the highest environmental standards for high-rise buildings.
September 2020
The construction of the Deloitte University EMEA (Eastern Paris, France) has started. The project targets five firstclass environmental certifications. BESIX is in charge of the construction works and the landscaping of the site with gardens and a wooded park.
For the second BESIX Cleanup Day, BESIX Group colleagues from construction sites and offices all around the world collect 2,000 tons of waste in their communities.
October 2020
BESIX and its partner have been awarded the expansion of the Port of Fujairah in Dibba (UAE). The project includes the construction of breakwaters, a quay wall and port infrastructure, as well as dredging the navigation channel and port basin.
In Brussels, BESIX and its partners start the construction of the Toots Thielemans subway station, two tunnel elements and the extension and renovation of the Lemonnier tram station. The project is part of the construction the new Brussels metro line 3.
BESIX Group is one of the 53 signatories of the Belgian Alliance for Climate Action. Signatories align their activities with the objectives of the Paris Agreement, aiming to limit the rise in global temperature to a maximum of 1.5 °C.
BESIX delivers the thoroughly renovated and upgraded Manhattan building in the Brussels business district to client Victory (Belgium). This office complex was designed and built to meet the highest sustainability standards.
The construction works at the RefuseDerived Fuel (RDF) Facility in Umm al Quwain (UAE) are completed and tests are launched to transform waste into high-quality alternative fuel for factories in the region.
The BESIX teams on the Nachtigal project site (Cameroon) and on the Dubai Uptown Tower (UAE) both reach 5 million man-hours without lost-time incident.
BESIX-Six Construct deliver a major four-way footbridge in the heart of Dubai, allowing pedestrians to safely cross one of the busiest junctions in the city. At rush hour, up to 8,000 people per hour in all directions are able to use the 75 m long elevated crossing.
November 2020
BESIX and partner are awarded the State Road 318 Valfabbrica contract by Anas S.p.A, the Italian road authorities. The project will improve the connection and traffic flow between the cities of Perugia and Ancona (Italy).
The construction works of the Rail Baltica Central Hub in Riga begin (Latvia). BESIX and its partner can now bring the D&B concept to life, including a new central station building, a major railway bridge and various rail infrastructures. The project aims to integrating the Baltic States in the European rail network.
Grid operators Elia and Amprion inaugurate ALEGrO, the first electricity interconnector between Belgium and Germany. Two BESIX entities, Franki Foundations and Van den Berg, were responsible for the foundations of the Lixhe conversion station and the underground DC installation. The project aims to enhance the countries’ security of supply and facilitate the integration of renewable energy sources.
December 2020
The French Minister for Foreign Trade and the French Ambassador to the UAE visit their national Pavilion, built by Six Construct, at the Dubai World Expo site.
On the site of the Mohammed VI Tower (Rabat, Morocco), the concrete central core reaches level 13. The tower is progressing at the rhythm of 1 floor per week!
The first steel elements of the southern bridge are erected on the Vistula Spit project site (Poland). Reinforced concrete works are underway on the northern bridge and the construction of the breakwaters is progressing swiftly.
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BESIX Engineering
BESIX Engineering is the in-house design office of BESIX. It is to a large extent the contribution of the department that enables the group to deliver first-class port terminals, cutting-edge civil engineering works and demanding buildings. The integration of a design office within a construction group, although rare, is a key asset for clients. It enables BESIX to offer tailor-made solutions and optimise projects... Read more
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Digitalisation
The history of BESIX has been a history of innovation and pioneering. As a result, the group stands today at the forefront of new technologies in construction. In 2020, BESIX has set new ambitions, in particular to further digitise its construction processes. Through incrementing innovation, the objective is an unprecedented improvement in the efficiency of operations and the sustainability of construction sites. Read more
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Citizenship & Sustainability
During the Covid-19 pandemic, BESIX Group worked hard to maintain the continuity of its business and deliver the same level of excellence to its clients, while at the same time, providing a safe work environment for its teams, and adapting to major changes. Like many multinational companies, BESIX Group implemented solutions to secure its sustainable business practices and its operations through the year... Read more
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People
Covid-19 has radically changed the playing field, also for people-related matters. Navigating the workplace in 2020 was no simple task. At BESIX, some colleagues were socially isolated. Others had to juggle a fulltime job with caring for elderly parents or young children. Expatriates have been blocked on project sites in remote parts of the world, unable to travel or reunite with their families. Difficult decisions had... Read more
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All
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Buildings
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Infrastructure
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Marine works
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Environment
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Industry & logistics
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Sports & leisure
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Concessions & Assets
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Real estate
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Manhattan (BEL)
After 45 years, the iconic Manhattan tower in Brussels needed some tender loving care. Rather than choosing to demolish the building, real estate investor Victory chose BESIX, in a joint venture with Louis De Waele, to not only restore Manhattan to its former glory, but upgrade it to a beacon of sustainability in the capital of Europe. Read the full story
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Grand Egyptian Museum (EGY)
It is one of the largest constructions in Egypt since the pyramids. The Grand Egyptian Museum is in fact built in perfect alignment with the three pyramids of Giza, with which it will form an exceptional tourist complex of triangular shape, a stone’s throw from Cairo. It will also be the world’s largest museum dedicated to a single civilisation. Read the full story
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Dubai Uptown Tower (UAE)
It will be the first super tall tower in the district and BESIX-Six Construct are responsible for its construction, with a design & build responsibility on the structure & façade. Uptown Tower is a 78-storey eye catcher for Dubai Multi Commodities Center (DMCC) that will be a LEED Gold-certified building, and home to a state-of-the-art DMCC business hub. Read the full story
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STARS Building (AUS)
The completion of the much-awaited highly specialised Surgical, Treatment and Rehabilitation Service (STARS) building in a new health precinct in Brisbane, Australia, cements BESIX Watpac’s expertise in building modern health facilities. Read the full story
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Mohammed VI Tower (MAR)
Along the Bouregreg river near Rabat, BESIX and Moroccan contractor TGCC are building in joint venture the futuristic centrepiece of an ambitious project. The Mohammed VI tower will eventually rise up to 250 metres. Its construction is going like a rocket, thanks to the team’s experience and agility to face the challenges of a first of its kind project in Morocco. Read the full story
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Nachtigal hydro-electric project (CAM)
Covering 30 % of Cameroon’s energy needs: that’s the scope of the Nachtigal Hydro-Electric Project. It will provide a new source of reliable and renewable energy and accelerate the country’s ambitious development goals. To that aim, BESIX is responsible for the design and build of a dam and a 420 MW plant via a public-private partnership. To deliver the electrifying project, the team taps into a wide range of expertise and sets a commendable and inclusive example in terms of safety. Read the full story
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Bicycle highway F3 (BEL)
Motorists driving along the Brussels ring road (R0) in 2020 could not miss BESIX working on the final piece of the bicycle highway between Leuven and Brussels, also called the ‘Missing Link’. Read the full story
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Buitenring parkstad limburg (NED)
When the Dutch province of Limburg awarded the contract for the outer ring road Buitenring Parkstad Limburg, it had one clear goal in mind: to effectively improve accessibility to and within the former mining region of Parkstad. Read the full story
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New shipping channel in the gulf of Gdansk (POL)
In Poland, BESIX is contributing to the construction of a new shipping channel in the gulf of Gdansk. This is a strategic investment for the country, as it will facilitate maritime traffic and give a boost to the local port, employment and the economy. Read the full story
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Wastewater treatment plant (LUX)
In September 2020, the wastewater treatment plant in Bous, in the Grand Duchy Of Luxembourg, treated wastewater for the first time in its new facilities. A refurbished plant in which the electromechanical process was installed by the joint venture formed by Lux TP and BESIX Environment. Read the full story
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Dubai waste-to-energy plant (UAE)
It will be the largest waste-to-energy plant in the world built in a single phase. Construction began in 2020 and will be completed in a particularly short time, given the scale and complexity of the plant. Read the full story
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Military vehicle centre of excellence (AUS)
Completed by BESIX Watpac in stages to provide early access to the most critical facilities, the AU$174 million state-of-the-art Military Vehicle Centre of Excellence (MILVEHCOE) is the most advanced military vehicle manufacturing facility in Australia. Read the full story
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Gabba stadium (AUS)
A long and successful partnership with one of Australia’s preeminent sporting venues has reached another milestone with BESIX Watpac completing a major refurbishment of the iconic ‘Gabba’ just in time to host an historic national grand final. Read the full story
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Local police tower Antwerp (BEL)
As 2017 was coming to an end, the BESIX team finalising Post X (six passive office buildings) learned they would be staying on site a little while longer. AG Vespa, Antwerp’s independent municipal company responsible for real estate and urban projects, awarded the PPP project to design, build, finance, maintain and operate a new home for the operational and supporting services of the local police force to a consortium in which BESIX would act as contractor. Read the full story
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Meadow (BEL)
With the development of the large-scale residential district Meadow, BESIX Red consolidates its position on the Flemish real estate market. The result of a co-creation within BESIX Group, the development covers a completely new district of about 58,000 m² in Herent, next to Leuven (Belgium). Designed by BINST and POLO architects, Meadow offers a diverse range of high-quality and energy-efficient apartments, integrated in a landscaped park. Read the full story
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Les promenades d’Uccle (BEL)
In the south-west of Brussels capital region, Les Promenades d’Uccle is taking shape. BESIX Red develops, in collaboration with Belgian partner Matexi a 42,000 m² new residential district on the Engeland plateau in Uccle. In-house company Entreprises Jacques Delens acts as the general contractor for the first phase. Read the full story
Changing construction market
Changing construction market
The world in which we operate and the construction sector are undergoing profound changes. In response to these changes, BESIX has defined the foundations of its strategy to support its capacity to innovate, maintain a high level of quality, face competition, meet new financial requirements and diversify.
Technological: artificial intelligence, blockchain, augmented reality, 3D printing…
Environmental: energy efficiency, energy neutral, new materials…
Competitive: risk sharing, shrinking margins, talent war…
Strategic drivers & values
6 strategic drivers
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01BEING A LEADER IN OPEN INNOVATIONInnovation is where our operations are, where each and every one is empowered and supported to carry out the BESIX innovative and entrepreneurial company culture. -
02Promoting openness towards new venturesWe have been known for decades for our entrepreneurial spirit. We need to continuously explore and to react positively to new opportunities.
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03DEVELOPING 'ONE-STOP-SHOP' SOLUTIONSOur Group has unique capabilities and a multiservice offer, meaning we can provide solutions throughout the value chain, from 'develop' to 'operate and maintain'. -
04LEVERAGING ON OUR CUSTOMER CENTRICITYIt is key for our business to really know our clients, understand their needs and satisfy them to achieve the desired results. Doing this better than our competitors will be a major differentiating aspect. -
05PROMOTING A GREAT PLACE TO WORKOur ability to provide a great employee experience in an open community of enthusiastic colleagues is a defining factor in our successes of tomorrow.
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06CREATING SYNERGIES ACROSS THE GROUPThis means ‘working light’ by simplifying and harmonizing our internal processes. This can include common choices of tools, organizational formats and resource allocation across the Group.
5 values
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Excellence
This takes us straight back to our corporate purpose and trademark: to always excel in what we do. -
Passion
We are all passionate about our jobs. -
Co-creation
We need to demonstrate this every day, by pooling our minds and skills, and advancing forward. -
Unity
Despite the size of our company, there is an attitude where colleagues stand up for each other and are ready to lend an extra hand to help others succeed. -
Respect
Respect is all about attitude. It
is vital to create an atmosphere of
comfort and trust for everyone.
Purpose
Purpose
“Excel in creating sustainable solutions for a better world”.
This mission gives our actions a goal that goes far beyond profit. It is pivotal, inspiring our decisions and actions based on a simple question: what kind of future do we want and how do we make it happen?
By encouraging new ideas, assuming our responsibilities in a proactive way and by excelling in all of our initiatives, we believe that we can help bring about positive change – economic, societal and environmental.
Discover the whole 2020 annual report
