First Read: European Infrastructure "Vinci/Eiffage datacentre read-across..."

Research evidence excerpt

First Read: European Infrastructure "Vinci/Eiffage datacentre read-across..."

Global Research

14 July 2026ab

First Read

EquitiesEuropean Infrastructure

Vinci/Eiffage datacentre read-across from Europe including UK

Bravida results Transportation Services

Cristian Nedelcu, CFA

Analyst

cristian.nedelcu@ubs.com

Bravida's recent wins highlights growing data centre construction activity in +44-20-7568 4375

Europe

Amal Patel

Bravida (not covered) is a multi-technical engineering contractor primarily focused on Analyst

the Nordic markets. While the company does not directly overlap with the core amal.patel@ubs.com

geographies where Vinci and Eiffage have the strongest exposure, we view the recent +44-20-7568 3973

flurry of data centre contract awards and supportive management commentary on the Rory McKenzie

1H26 call as a positive read-across for the broader European data centre construction Analyst

market. In particular, it reinforces our view that the wave of announced AI and data rory.mckenzie@ubs.com

centre investments across Europe is increasingly translating into tangible order intake +44-20-7568 1977

opportunities for engineering and electrical contractors. We attempted to quantify the

European data centre opportunity for the mechanical and electrical engineers in our

recent note [link] and Eiffage preview ahead of results [link].

Bravida has been active in data centre construction since 2009 and has worked on

facilities representing roughly 200MW of capacity. Yesterday, the company commented

that, over the past month, it had 4 significant contract wins in data centre construction,

including a SEK4.3bn (€390m) contract for Green Mountain's data centre in Norway,

with construction commencing in late 2026 and expected completion in 2028/29, and a