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Fri March 29 2024

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Vinci reports solid financial performance

6 Feb 14 Vinci’s annual results for 2013 were better than it anticipated, despite bad weather conditions in the first half and the continuing difficult market conditions in Europe.

The group’s full year revenue grew by 4.4% to €40.3bn (£33.4bn) thanks to a 3.2% increase in revenue generated in France and a 6.4% increase in revenue generated outside of France.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were €5.6bn (+3.3%) with a margin of 13.9%.

Recurring operating income was stable at €3.7bn despite unfavourable accounting impacts at Vinci Autoroutes - through the depreciation of new infrastructure recently put into service - and restructuring costs in some contracting activities, primarily at Eurovia.

There were some big year-end transactions, including consolidation of the increased 8% stake in Aéroports de Paris (ADP) and the financial restructuring of the Greek toll road projects. These positive elements were partially offset by the depreciation of some assets and the increase of the French corporate tax rate.

Net financial debt at 31 December 2013 was €14.1bn, a €1.6bn increase over 12 months. This was less than expected due to an improvement in working capital requirement at the end of 2013.  

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MPU
MPU

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