Nanterre, 7 February 2024That increase was driven firstly by Ebitda growth and a very sharp improvement in the working capital requirement, due in particular to high levels of cash inflows from customers at the end of the year. It also resulted from the postponement of some investments, particularly in new renewable energy projects that started later in the year than anticipated.
While the contributions from VINCI Autoroutes (€2.7 billion) and VINCI Airports (€1.0 billion) were slightly down compared with 2022, particularly as a result of their higher financial costs, VINCI Energies (€1.4 billion) and VINCI Construction (€1.2 billion) achieved outstanding performance, with cash conversion ratios of well over 100%. Free cash flow at Cobra IS was close to zero despite a high level of investment relating notably to the construction of new renewable energy projects.
In English: +44 (0)33 0551 0200 or +1 786 697 3501 (code: VINCI ENG)
Live access to the webcast on the Group’s website or at the following links:
In French: https://channel.royalcast.com/landingpage/vincifr/20240208_1/
In English: https://channel.royalcast.com/landingpage/vinci/20240208_1/VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general. www.vinci.comchange234567234changeFrancechangeFrance** VINCI Railways and VINCI Stadium.change** VINCI Railways and VINCI Stadium.APPENDIX C: OTHER INFORMATION BY BUSINESS LINEchange** VINCI Railways and VINCI Stadium.changechangechange* Excluding A86 Duplex.
2In France, a distinction is drawn between concessions (for works or services) and partnership contracts.
Outside France, there are categories of public contracts – known by a variety of names – with characteristics similar to those of the French concession and partnership contracts.
In a concession, the concession holder receives a toll (or other form of remuneration) directly from users of the infrastructure or service, on terms defined in the contract with the public sector authority that granted the concession. The concession holder therefore bears “traffic level risk” related to the use of the infrastructure.
In a partnership contract, the private partner is paid by the public authority, the amount being tied to performance targets, regardless of the infrastructure’s level of usage. The private partner therefore bears no traffic level risk.
1 Excluding concession subsidiaries’ revenue derived from works carried out by non-Group companies (see glossary).
2 Period-end.
3 Figures at 100% including passenger numbers at all airports managed by VINCI Airports over the period as a whole.
4 The consolidated financial statements have been audited and the Statutory Auditors’ report is in the process of being published.
5 Purchase of a 29.99% stake completed in December 2022, fully consolidated in VINCI’s financial statements.
6 Motorways managed outside France and electronic toll collection activities.
7 Information Communication Technologies.
8 34 acquisitions were completed in 2023 and 31 in 2022.
9 After taking account of dilutive instruments.
10 The school holidays at the end of the year started one week later than in December 2022.
11 Two fewer business days in 2023 than in 2022.
12 Figures at 100% including passenger numbers at all managed airports over the full period.
13 However, this order intake figure does not include two of the three offshore windfarm energy converter platforms to be designed, built and installed in the North Sea for TenneT (contract announced in April 2023).
14 Including a contract to build a significant section of the new metro line in Toronto, Canada.
116 Figures at 100% including passenger numbers at all managed airports over the full period.
17 Ebit / revenue.
18 As announced during the Capital Markets Day dedicated to Cobra IS on 12 December 2023.
19 Raios do Parnaiba and Mundo Novo in Brazil, with combined capacity of 0.6 GW, along with around 12 further projects in Spain with combined capacity of 0.8 GW.
20 Wholly-owned.
21 40%-owned.Grégoire THIBAULT
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(GlobeNewsWire)