PARIS (Agefi-Dow Jones)–Construction and concessions group Vinci on Tuesday confirmed its financial targets for the current year after recording an increase in its turnover in the third quarter, driven in particular by a rebound in the traffic in its airport and motorway concessions.
The turnover of the group present in nearly 120 countries amounted to 16.7 billion euros for the period from June to September, up 26% compared to the same period of 2021. At constant scope and exchange rates, it grew by 12%.
Analysts polled by FactSet on average expected revenue of 15.96 billion euros in the third quarter.
In the first nine months of the year, consolidated sales reached 45.2 billion euros, compared to 35.8 billion in the same period of 2021.
The turnover of the Concessions division, made up mainly of Vinci Airports and Vinci Autoroutes, increased by 36% over nine months, to nearly 7 billion euros, while that of Vinci Constructions increased by 12%, to 21 .5 billion euros. That of the Vinci Energies division appreciated by 9.6%, to 11.9 billion euros.
At the end of September, the order book of Vinci Constructions, Vinci Energies and Cobra IS stood at 57.4 billion euros, up 26% over one year. Excluding the integration of Cobra IS, acquired at the end of 2021, it increased by 2%.
“Building on the solid performance achieved at the end of September 2022, Vinci confirms that it expects 2022 net income to be higher than its 2019 level,” the group said in a press release.
The good visibility enjoyed by the group allows it “to continue to favor selectivity in its business deals”, he added.
The group’s consolidated net financial debt stood at 20.1 billion euros at September 30, compared to a debt of 16.9 billion euros a year earlier. On the same date, the net cash position stood at 7.4 billion euros
-Francois Schott, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: ECH
VINCI FINANCIAL RELEASES:
http://www.vinci.com/vinci.nsf/fr/finances.htm
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
October 25, 2022 12:27 ET (16:27 GMT)