Vinci confirms its outlook after a first quarter driven by energy services

The group's energy services business grew by 4,7%, while concessions increased by 1,4%. It forecasts further growth in revenue and profits for 2026.

Orders taken by Vinci Energies, Cobra IS and Vinci Construction represent a total amount of 17,4 billion euros, up 5%.

The order book at March 31 reached a new "historic record" of 74,9 billion euros, up 4% year-on-year.

It represents almost 15 months of average activity across the three branches.

Vinci Airports saw increased traffic in the first quarter (+1,5%) "despite disruptions caused by the situation in the Middle East", "thanks to good geographical diversification".

"On the other hand, traffic at London Gatwick was impacted by flight cancellations related to the conflict in the Middle East," the group points out.

Energy services benefit from very promising markets, Vinci continues, citing the electrification of uses, the development of Artificial Intelligence and data centers, the digitization of industrial processes and building management as well as the challenges of defense and sovereignty.

"Current geopolitical events should continue to support these major underlying trends, particularly the acceleration of electrification," the group believes.

Revenue in this segment increased by 5% to €6,9 billion, of which 68% was generated internationally.

In construction, Vinci Construction's revenue fell by 3,3% to 6,7 billion euros due to a "decline in activity on major projects" and the impact of difficult weather conditions in Central Europe.

Vinci Immobilier saw its activity fall by 7% to 218 million euros, but housing reservations in France increased by 17%.

The group notes that "it is impossible at this stage to reliably quantify the potential impacts of the current crisis in the Middle East," which "will be assessed and commented on as needed in due course."

However, he adds, these events reinforce the conviction of its leaders that the need for investment in vital infrastructure "will increase under the effect of sovereignty issues in different regions of the world".