Vinci forecasts more limited growth this year after strong 2024

Vinci’s order book stands at €61.4 billion ($66.2 billion), up 7% on 2022. Its operating income from ordinary activities was up 12.1% to €8.4 billion ($9.1 billion).

Vinci Construction saw “very strong” business levels driven by major mobility infrastructure projects, work on structures for climate resilience, and the energy transition.

The energy transition and continued digitalisation also helped to drive growth in Vinci’s energy business, which accounted for almost 40% of the group’s total revenue.

Geographically, France accounted for 43% of Vinci’s total revenue, with the rest coming from outside the country.

Revenue within the construction business rose 9% on a like-for-like basis as compared to 2022, totalling €31.5 billion (US$34 billion).

Revenue at Vinci Energies was €19.3 billion (US$20.8 billion), up 11% on a like-for-like basis. Its Cobra IS division, which specializes in applied industrial engineering and is based out of Spain, saw revenue climb 18% to €6.5 billion (US$7 billion).

Xavier Huillard, VINCI’s chairman and CEO, said, “Vinci’s overall performance was of a very high quality in 2023. Revenue and earnings grew strongly and reached new all-time highs. Free cash flow was exceptional and significantly exceeded expectations.

“Almost all of the group’s businesses, both in France and abroad, saw very positive momentum throughout the year. The only exception was the property development business, which is dealing with a severe conjunctural downturn in its sector.

“With a solid presence in highly buoyant markets, particularly in the energy sector – in which it operates across the whole value chain through its three major businesses – the Group is moving ahead with confidence and enthusiasm. The environmental transition, energy efficiency, the digital revolution and sustainable mobility are major challenges that are generating considerable demand, which represent opportunities for the group’s companies.”