Vinci sees slight revenues decrease

French contractor Vinci has announced its half-year (1 January to 30 June) results, reporting a 1.5% decrease in its revenues to €17.6 billion.

The company said it saw sustained growth in its subsidiaries Vinci Autoroutes and Vinci Airports, while it saw a contraction in its subsidiaries Eurovia and Vinci Construction. It also reported stable business activity at Vinci Energies.

Vinci’s earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5.5% to €2.6 billion.

Xavier Huillard, Vinci’s chairman and CEO, said, “Performance in the first half of 2016 confirms the major trends previously reported: an increase in concessions revenue, with higher than projected traffic growth at Vinci Autoroutes and Vinci Airports; a slight decline in contracting revenue; and a confirmed upturn in order intake, particularly in France.

“In line with its strategy, the group continued to expand internationally: in concessions, Vinci Airports has become one of the top five players worldwide in airport management following the start of the concession operations for two airports in Japan, and the acquisition of the concession-holding company of six airports in the Dominican Republic.”

He added that, in contracting, new acquisitions had been made by Vinci Energies in Australia and by Eurovia in Canada.

In its outlook for the remainder of 2016, Vinci said that, despite the unstable economic climate, the company was starting the second half of the year with confidence.

It said it expected Vinci Autoroutes to grow further, while Vinci Airports would continue at a steady pace.

Vinci Construction is expected to decline.