Vinci, the construction and infrastructure concessions giant, achieved turnover in the 3rd quarter up 9% to 18.3 billion euros, driven in particular by airport concessions, construction and energy. .
Over the first nine months, its activity increased by 12%, 50.6 billion euros: +18% internationally, whose weight has never been so important (57% of sales, 28.7 billion), and +5% in France. Vinci observes an increase in order intakewhich according to him reached a record level (63.3 billion euros as of September 30), giving the group good visibility on its forecast activity.
Most of it comes from the energy and construction sectors. The energy branch (13.9 billion over nine months) is in buoyant markets (energy and digital transitions), notes Vinci, which has made recent acquisitions in this sector, in Norway for example.
A decline of 24% on the real estate component
The Construction branch (23.4 billion) was driven by civil engineering and public works activities. In France, for example, it leads rehabilitation and construction projects for public buildings, particularly in the hospital sector.
The landscape is less cheerful, however, on the Real Estate side, with a turnover of 836 million euros over nine months, down 24% compared to 2022. Vinci explains this by a very difficult situation in the real estate development sector in France, penalized in particular by an environment of high interest rates. According to Vinci, accommodation reservations in France have fallen by 46% over one year.
As for concessions, Vinci Autoroutes, 4.9 billion euros over nine months (+5%), benefits from an increase in traffic for all vehicles combined (+2.2% in September 2023 compared to September 2022, against a backdrop of almost summer weather in the fall and despite high fuel prices, notes Vinci).
The group’s overall progress is also linked to a change in the scope of Vinci Airports, with the integration of OMA4, a concessionary company operating 13 airports in Mexico, acquired for 29.99% at the end of 2022. On the financial front, Vinci indicates to benefit very significant liquidity with financial debt down sharply over one year.
It confirms its objectives for 2023: an increase in its turnover and its operational result, however on a more modest scale than that observed in 2022, and a net result slightly higher than its 2022 level.