The French construction giant Vinci confirmed its 2024 forecasts on Thursday and announced a turnover up 4.8% to 15.7 billion euros in the first quarter, noting an increase in motorway traffic after the farmers’ protests and a “record” order book.
The Vinci Construction branch achieved 7 billion euros in turnover, an increase of 3.9% due in particular to good activity in France on the rehabilitation of existing buildings, the construction of public buildings and road works.
Sales in France, almost half of this branch’s activity, increased by 6%. Internationally, the increase is 2%.
The order book is stabilizing and represents nearly 13 months of average activity.
On the motorways, if traffic remains down 1.4% for the entire quarter, Vinci noted a positive inflection in March, also thanks to Easter. This activity generated 1.4 billion euros in turnover, an increase of 3.2%.
On the airport side, turnover increased by 14% to 876 million euros, driven by passenger traffic higher than its 2019 level for the second consecutive quarter, according to a press release.
Sales of the Vinci Energies branch increased by 5.0%, to 4.6 billion euros, with an order book which represents almost ten months of average activity.
The group still expects a further increase in its turnover in 2024, even if this should be of a lesser magnitude than that achieved in 2023.
Results should also improve, Vinci also indicated.
This trend is before taking into account the new tax on long-distance transport infrastructure decided by the French government, the amount of which is estimated at around 280 million euros, the company said.
Despite this negative impact, the net result in 2024 could be close to the level reached in 2023, Vinci reiterated.