Vinci Construction’s revenue stays flat in 2024 but new orders surge

Revenue at France-based contractor Vinci Construction was flat in 2024, rising just 0.6% on a like-for-like basis to €31.8 billion (US$33 billion).

But Vinci boasted the healthiest operating margin for its Construction division since 2011, with operating profit at €1.3 billion (US$1.4 billion), which was equal to 4.1% of revenue, up from 4.0% in 2023.

Meanwhile, Vinci Construction’s order book was up 10% to €33.7 billion (US$35 billion) in 2024, which included a 28% increase in the fourth quarter after several large contract wins.

Those included an extension to the Red Line on the Chicago metro worth US$1 billion, transport infrastructure projects in the Czech Republic for more than €400 million; a contract to modernise a section of the North Coast Line, a rail line north of Brisbane in Australia for more than €200 million; and a design-build contract for a new waste-to-energy plant in the Corrèze department of France for more than €100 million.

Vinci’s chairman and CEO, Xavier Huillard

Vinci said it expected revenue in its construction business, including that of FM Conway in the UK, which it acquired late last year, to remain “close to the 2024 level” with a targeted further improvement in its operating margin.

Revenue for the entire Vinci group, which includes its roads and airports concessions business, energy business, and property development arm, was up 4% to €71.6 billion in 2024 (US$74.4 billion).

Its operating income from ordinary activities (Ebit) also increased 7.7% to just under €9 billion (US$9.4 billion).

Vinci’s chairman and chief executive Xavier Huillard, said, “The combined order book of the Energy and Construction businesses hit a new record at the end of the year.

“In a more uncertain economic and geopolitical environment, the Group has thus good visibility on its future business levels and has begun 2025 in a quietly confident mood.

“Vinci’s international presence increased further in 2024, in line with the Group’s long-standing strategy. It now generates 58% of its revenue and the majority of its net income outside France. International business accounts for 70% of its order book.”