“Vinci broke records in 2019”: French group basks in solid annual results

French concessions and contracting giant Vinci today released a set of what it called record-breaking financial results for 2019.

Revenue was up 10% to €48.1bn, and operating income from ordinary activities was up 15%, to €5.7bn.

Income from concessions rose 18% through acquisitions and organic growth of 6%. Growth in traffic levels at Vinci Autoroutes was up 2.8%, while passenger numbers at Vinci Airports rose up 5.7%.

Contracting was up 9%, with higher business levels seen across the three business lines, Vinci Energies, Eurovia and Vinci Construction.

The company proposed a dividend of €3.05 per share for 2019.

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

He added: "It confirms the strength of our concession-contracting business model and our ability to integrate new companies successfully. The year’s main highlight 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 contracting, the order book hit a new record at the end of the year, making up for a slight decline at Vinci Construction, caused by under activity in the oil and gas sector.

Image: A Vinci bridge project in Hong Kong (Vinci photograph/© Cyrille Dupont)

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