2025 Universal Registration Document

Construction

Freyssinet, a specialist in structures, recorded stable sales compared with 2024, principally due to unfavourable exchange rates. The company was mainly involved in repair or renovation projects such as the emergency restoration of the Saint-Nicolas building in La Rochelle (France), replacing the stay cables on Hooghly bridge (India), reinforcing the stay cables on the Öresund bridge between Malmö (Sweden) and Copenhagen (Denmark) to enhance safety, and the first phase of the rehabilitation of the Spray canal near Canmore (Canada). In new construction, Freyssinet designed, supplied and installed the stays for the new Boorloo Bridge in Perth (Australia) and the El Manantial Conagua viaduct (Mexico). Built over hilly terrain, the viaduct is one of the major engineering challenges of the Mexico–Toluca rail project, as it must cross over a deep valley while following a curved alignment, a first for a cable-stayed structure designed to carry a rail line. The bridge will play an essential role for the resi-dents of the Mexico Valley by extending the intercity train line, relieving road congestion and reducing journey times between Mexico City and Toluca. By facilitating daily commuting, improving access to jobs and services and offering a sustainable alternative to private cars, the El Manantial bridge will make a strategic contribution to improving urban mobility and reshaping the metropolitan area landscape.

Nuvia, which specialises in projects, engineering and services in highly regulated industrial environments, mainly in the nuclear sector, experienced another year of strong growth, with revenue increasing by around 20% driven in particular by international business. This performance is mainly attributable to the integration of MBO, acquired in 2024, and healthy business activity in France, the UK and Sweden. In the latter, Nuvia reached a major milestone in the dismantling of Unit 2 at the Ringhals nuclear power plant. The site, operated by energy company Vattenfall, has been undergoing a phased decommissioning programme since its permanent shutdown, in preparation for safe dismantling and with a view to minimising environmental impact. Nuvia successfully removed three steam generators weighing 300 tonnes each, a key step in the dismant-ling of the primary circuit. This project illustrates the company’s ability to operate in a strictly controlled environment where precise studies, control over radiological risks and stringent safety procedures are essential.

In October 2025, Nuvia expanded into Spain through the acquisition of Marsein, a long-standing player in nuclear services, mechanical maintenance, welding, decommissioning and nuclear waste management.

More broadly, Nuvia is capitalising on the strong momentum in this sector, spurred by converging trends including growing demand for electricity, the shift towards less carbon-intensive industrial processes, and governments’ desire to secure a stable and independent supply of low-carbon energy. In this context, new markets and players are emerging, including large American technology companies that develop, build and use nuclear power plants and small modular reactors (SMRs). For Nuvia, these trends will provide many opportunities for future development.

Sixense, a leader in the digitalisation of infrastructure construction, operation, management and maintenance, recorded slower growth as a result of unfavourable exchange rates and multiple major projects reaching completion. Its profitability is nonetheless on the rise, thanks to a combination of operational excellence in its projects and streamlining of its digital business. It recorded particularly strong growth in Romania, Poland, Saudi Arabia, Mexico and Canada. Projects in 2025 included acoustic and vibration monitoring of worksite 11 of the Euralpin Lyon–Turin tunnel, instrumentation and monitoring of viaducts on 50 km of the Mexico–Toluca rail line, and structural monitoring of the site of the future Museum of the Eastern Territories of the Former Commonwealth in Poland. Lastly, Sixense continued to invest in digital tools, in particular in its Beyond platform for construction site monitoring. This platform is consolidating its position in its traditional markets, while innovative new offerings are opening up access to strategic markets tied to the environment and climate change.