Vinci posts “remarkable” results for 2018 thanks to energy and airports

French construction group Vinci has announced revenues and profit up more than 8% for 2018, and said it expects further growth in 2019 – particularly if its bid to take over state-owned airport operator Aéroports de Paris (ADP) is successful.

Turnover at the world’s largest non-Chinese contractor rose 8.1% to €43.5bn and profit was up 8.6% to €3bn.

Xavier Huillard, Vinci’s chief executive, hailed a "remarkable performance in 2018" and said he expected a "further increase in revenue and earnings for 2019".

He added that Vinci’s strength lay in its mix of construction and concessions.

For contracting, which accounts for 80% of the group’s revenues, Vinci experienced a strong increase in its international energy work. Turnover here rose 17% to €12.6b. Another strong performer was Vinci Construction in France. This generated €14.2bn in sales, driven by a growing demand in the Paris region.

Eurovia, Vinci’s road and rail infrastructure subsidiary, generated €8.5bn of turnover over the year.

The company’s star performer in the field of concessions was its 45 airports, which recorded a 14% growth in turnover to €1.6bn, partly owing to the take over of Salvador airport in Brazil and Belgrade airport in Serbia.

Its acquisition of Gatwick airport to the south of London will register in next year’s figures, as will success in its bid to buy ADP – if the French government decides to go ahead with its privatisation.

The company’s French toll road business, however, suffered from the impact of the gilet jaune protests.

Image: Vinci’s offices in Villeurbanne (Dreamstime)

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