Vinci revenue jumps 10%

By Mike Hayes05 February 2020

Xavier Huillard, chairman and CEO of Vinci

Xavier Huillard, chairman and CEO of Vinci

Concessions and construction company Vinci has reported a rise of 10% (to €48.1 billion) in its 2019 revenue in its latest annual report.

The group reported a rise in net profit for the year of 9%, equating to €3.3 billion.

The firm’s concessions business enjoyed an overall rise of 18%, with traffic levels on Vinci autoroutes up 2.8% and passenger numbers at Vinci airports up 5.7%.

Vinci also highlighted a 9% rise in its contracting arm, with business levels up across Vinci Energies, Eurovia and Vinci Construction. Its real estate business, Vinci Immobilier saw revenue growth of 20%.

In light of the results, the company is proposing a dividend of €3.05 per share.

Xavier Huillard, chairman and CEO of Vinci, said, “Vinci broke records in 2019. Business levels grew strongly both in France and abroad, earnings rose again and cash flow was outstanding.

“The year’s main highlight,” he said, “was the acquisition of a majority stake in London Gatwick, the second-largest airport in the United Kingdom and the eighth-largest in Europe.”

In the report, Huillard praised the company’s 222,000 employees, saying the performance in 2019 was achieved through their hard work, and added, “It confirms the strength of our concession-contracting business model and our ability to integrate new companies successfully.”

Looking ahead, Vinci announced it is accelerating its social and environmental responsibility policy and is targeting a 40% reduction in the group’s carbon footprint in the next decade.

 

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