PARIS (Agefi-Dow Jones)–Construction and concessions group Vinci on Thursday confirmed its full outlook for the current fiscal year after reporting a sharp rise in first-quarter revenues.
For the current year, Vinci is still counting on further growth in the activity of Vinci Energies, on an improvement in the operating margin of Vinci Construction and on revenues of 5.5 billion euros for Cobra IS, the entity resulting from the acquisition of the energy activities of the Spanish company ACS, at the end of 2021. In concessions, the company anticipates higher traffic than in 2019 for Vinci Autoroutes. For Vinci Airports, the company is counting on traffic representing around 60% of its 2019 level, “which would allow it to return to a net result close to balance”, she recalled.
Based on these elements, Vinci expects 2022 net income to be higher than its 2019 level, the company confirmed.
The group reiterated these projections while in the first quarter, its turnover amounted to 12.85 billion euros, up 26% over one year in published data and 12% on a like-for-like basis.
Activity in the construction branch rose by 11% on a like-for-like basis, to 6 billion euros, while that of the concessions branch increased by 33%, to 1.8 billion euros. Vinci Energies’ turnover amounted to 3.6 billion euros, up 4.5% like-for-like.
The group’s order book stood at 55 billion euros at the end of March, against 45.8 billion euros a year earlier.
Consolidated net financial debt stood at 20.7 billion euros at March 31, down 1.4 billion euros over one year.
-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: ECH
VINCI FINANCIAL RELEASES:
http://www.vinci.com/vinci.nsf/fr/finances.htm
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April 21, 2022 12:07 ET (16:07 GMT)