Business Monitor International


Slovakia Infrastructure Report

Published 19 December 2013

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Slovakia Infrastructure Report

BMI Industry View

BMI View: Slovakia appears to be stabilising its economy and as such we have upwardly revised our forecasts for 2014. We forecast the construction growth in 2013 will return into positive figures at 0.8% y-o-y. For 2014, we expect this growth to be maintained - stronger growth being subdued as private investors wait to see how whether economic recovery will fully take hold. Weak demand is the major risk both in the infrastructure and residential and non-residential sectors. That said, European money will likely continue to support investment and government spending has been little impacted by austerity measures. As such, although our outlook is still muted, there is an improving outlook for the construction industry over 2014.

Key developments informing our forecast include:

? Transport sector revival: More Public Private Partnerships (PPPs) have been awarded for the development of Slovakia highways. Over 2013 NDS awarded a contract worth EUR330mn (US$422.93mn) to a consortium of Doprastav, Strabag, Vahostav-SK and Metrostavwas to construct a 12km stretch of motorway in Slovakia. Under the contract, the consortium will construct the Svrcinovec-Skalite section of the D3 motorway. The EU and the Slovak government would provide funding for the project. The construction work is expected to be carried out for about three years. Also, the Government of Slovakia approved refinancing of the R1 Expressway project in Slovakia, on October 23 2013. A project bond, which will mature in 2039, will be issued in place of the original bank loan. The total worth of the project bond will be EUR1.25bn (US$1.72bn).

? Nuclear Future: Slovakia has held fast on its nuclear plans. In April 2012, the government pledged to speed up the new nuclear power plant at Bohunice and to decide upon proceeding early in 2013. The Slovak government in October 2013 said that it will hold talks with Russian company Rosatom about the firm's participation in the planned...

Table of Contents

BMI Industry View
5
SWOT Analysis
7
Slovakia Infrastructure SWOT
7
Competitive Landscape
8
Table: EQS
8
Building Materials
10
Europe
10
Table: Cement Price / Volume, % Variance (6M11/6M12)
14
Industry Forecast Scenario
15
Table: Slovakia Construction And Infrastructure Industry Data, 2010-2017
15
Table: Slovakia Construction And Infrastructure Long Term Forecasts, 2014-2021
16
Construction and Infrastructure Industry Forecast Scenario
18
Transport Infrastructure
20
Transport Infrastructure Forecast Scenario
20
Major Projects Table - Transport
24
Table: Major Projects - Transport
24
Energy And Utilities Infrastructure
25
Energy & Utilities Infrastructure Forecast Scenario
25
Major Projects Table - Energy and Utilities
28
Table: Major Projects - Energy and Utilities
28
Residential/Non-Residential Construction And Social Infrastructure
29
Residential/Non-Residential Building Outlook And Overview
29
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
30
Table: Major Projects - Residential/Non-Residential Construction And Social Infrastructure
30
Risk/Reward Ratings
31
Slovakia-s Risk/Reward Ratings
31
Rewards
31
Risks
31
Regional Overview
32
Central and Eastern Europe Infrastructure Risk/Reward Ratings
32
Table: CEE Infrastructure Risk/Reward Ratings, Scores out of 100
34
Company Monitor
35
Doprastav (Bratislava)
35
Metrostav SK
37
Sibamac
38
Global Overview
39
Source: Bloomberg
45
Industry Forecasts
46
Construction Industry
47
Data Methodology
47
New Infrastructure Data Sub-sectors
47
Construction
48
Capital Investment
49
Construction Sector Employment
50
Infrastructure Risk/Reward Ratings
50
Table: Infrastructure Business Environment Indicators
51

The Slovakia Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Slovakia Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Slovak infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for Slovakia to test other views - a key input for successful budgetary and planning in the Slovak infrastructure market.
  • Target business opportunities and risks in the Slovak infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Slovakia.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant multinational and national company developments.

These are broken down into Construction (social, commercial and residential), Transport (roads, railways, ports, airports etc), and Energy & Utilities (powerplants, renewable projects, pipelines and so on).

Industry Trends

Analysis of latest projects across the infrastructure sector (covering the transport, utilities and commercial construction sub-sectors) - including:

Market Overview:Analysis of the key elements driving developments, including evaluations of current capacity and future requirements.

Building Materials Overview

The building materials overview provides industry trend analysis on the global and regional demands for building materials and the impact of this on the emerging and developed markets.

Business Environment Rankings

BMI's Infrastructure Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (construction companies, suppliers and partners) in the regional infrastructure market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data point.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry & Economic Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for all key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecast. Indicators include:

Construction: Industry value (US$bn); contribution to GDP (%); employment (`000); real growth (%).

Infrastructure: Value (US$bn); contribution to construction industry (%); real growth (%) of transport infrastructure (broken down by railways, airports, roads and bridges, ports and harbours) and energy and utilities (broken down by power plants and transmission grids, oil and gas pipelines, and water infrastructure).

Economy: Economic growth (%); nominal GDP (US$bn); unemployment (%); interest rates (%); exchange rate (against US$).

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc