Heavy drop in Vinci's annual net profit with "reduced visibility" for the transport branches

In construction, Vinci aims for 2021, "excluding exceptional events, an increase in turnover, very close to that of 2019," said the group in a press release. But in "concessions, visibility remains very low" currently, "the activity is dependent on the evolution of the health context and restrictive measures that may result", according to him.

During the first confinement established, "almost all of the group's activities were shut down", commented Xavier Huillard, CEO of Vinci quoted in the press release.

If the construction trades and "to a lesser extent" motorways "then returned to activity levels close to normal, Vinci Airports remained severely penalized by the drop in air traffic on a global scale", a- he clarified.

The airline industry has been one of the hardest hit by the coronavirus crisis and traffic has collapsed by 60% globally.

Over the year, the turnover of the concessions branch was down 31,7%.

Vinci Airports recorded a turnover of 1 billion euros, down more than 60%, and Vinci Autoroutes posted 4,6 billion EUR (-17,5%) due to the drop in traffic due to traffic restrictions. circulation during the two confinements.

In construction, after a strong start to the year, activity was very weak during the first confinement both in building and in public works, i.e. for nearly two months and gradually resumed from the end of April for return to a level close to normal in June, according to the group.

The turnover of this branch amounted to 13,6 billion euros (-8,6%) and the "good recovery of construction sites, was confirmed in the 4th quarter (+ 1,5%), according to Vinci.

Given the uncertainties linked to the evolution of the health crisis, Vinci does not give any prospects for 2021, estimating that "in any case", the results "will not be able to return, from 2021, to their level of 2019".