Business Monitor International


Slovakia Infrastructure Report

Published 05 January 2015

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Slovakia Infrastructure Report

BMI View: BMI has revised down its 2014 forecast for Slovakia's construction industry to -3.8% on the back of weak indicators across the industry. In the nine months to September 2014 construction output fell 3.2% year-on-year to EUR3.1bn, according to the Statistical Office of the Slovak Republic. 2015 should, however, see a return to positive growth ( BMI forecasts 1.1%) driven by EU energy and transport integration projects and an improving economic picture. The infrastructure sector will remain the key driver for construction industry growth to the end of our forecast period in 2024, despite accounting for only 25% of the total construction picture, and while we forecast construction industry growth remaining positive throughout this period, it will be weak and will begin to slow after a high of 1.7% in 2017.

Key developments informing our forecast include:

? Highways projects back on course: In April 2014, Italian firm Salini Impregilo won the EUR410mn contract to construct the 13.4km Lietavská Lú?ka to Viš?ové and Dubná Skala section of the D1 motorway in northern Slovakia, including five overpasses with an overall length of 2.5km, as well as a 7.5km twin-tube tunnel, according to Construction Europe. The section - linking Bratislava with Uzhorod in Ukraine and due for completion in 2020 - comes under the EU's Trans-European Network (TEN-T) plans and is therefore eligible for funding from the EIB and Slovakian government. BMI has the view that the EU's raft of transport network project funding announced in 2013, which will benefit Slovak road and rail development/upgrading to better integrate with a European network, should act as a driver for improved project handling, supported by a stable political outlook.

? EU g as security in the balance: The EU's desire to limit Russian gas reliance gained a boost in December 2014 when Russian President Vladimir Putin announced the cancellation of the EUR40bn South Stream gas pipeline. The project had...

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

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 Forecasts

Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:

Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).

Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.

The Reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).

BMI’s Infrastructure Risk Reward Index

BMI’s Risk Reward Indices provide investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and  demographic data points to provides indices of highest to lowest appeal to investors, with each position explained.

Market Overview

An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.

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 Company 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.

Sources

The infrastructure Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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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