Vinci increases its net profit by 12,6% in the first half to 2,08 billion euros

CEO Xavier Huillard welcomed a "very good start to the year" and a "very high quality overall performance" in a press release released on Friday.

The group's profitability continues to be driven by its motorway and airport concessions, while its main activity remains construction, according to results published on Friday.

In total, Vinci posted a gross operating surplus (EBITDA) of 5,3 billion euros (16,4% of turnover, against 15,9% a year before).

This margin is largely driven by concessions: EBITDA reached 76,7% in the highways branch, for example, against 4% in construction, which accounts for almost half of turnover.

Vinci Construction, which won the award in mid-July of a major contract for the Grand Paris Express project relating to a section of line 15 (Pont-de Sèvres-La Défense) to the west of Paris, carried out a turnover of 14,9 billion euros, of which 6,8 billion in France and 8,1 billion internationally.

Vinci Energies "driven by the powerful underlying trends linked to the energy transition", saw its turnover increase by 18%, to 9 billion euros.

The only branch of the group in difficulty, Vinci Immobilier, "penalized by poor economic conditions in the sector in France in a context of high interest rates", posted a turnover of 600 million euros, down 23%.

At the end of June, the group posted an order book of 61,5 billion euros, against 56,2 billion a year earlier (+9%).

The post-Covid recovery in air traffic is confirmed with, as of June 30, a 36% increase in passenger traffic in the airports managed by the group, compared to the first half of 2022, which nevertheless remains lower by 9,1% traffic at the end of the first half of 2019.

But the airports managed by Vinci in Portugal, Belgrade (Serbia), Mexico and the Dominican Republic recorded "historic" attendance rates, higher than their 2019 level, the statement said.

Vinci Autoroutes traffic increased by 2,2% in the first half compared to the first six months of 2022, with a 3% increase in light vehicle traffic while that of heavy goods vehicles fell by 1%.