Construction drives positive results for Vinci
By Andy Brown23 April 2021
French construction and concessions group Vinci has released its first quarter financial results for 2021, with Vinci Construction seeing sales increase 10% from €4.7 billion (US$5.6 billion) in the first quarter of 2020 to €5.2 billion (US$6.3 billion) in the first quarter of 2021.
Revenue for the company as a whole was €10.2 billion (US$12.3 billion), up 5% compared with the first quarter of 2020.
For the construction segment ((including Eurovia) the first quarter of 2021 continued the positive trend seen in the second half of 2020. Revenue rose 10% compared with the first quarter of 2020 and 6% relative to the first quarter of 2019.
Vinci Construction’s order intake rose 34% year-on-year in the first quarter of 2021. In the 12 months to end-March 2021, order intake was up 13% year-on-year. The order book at 31 March 2021 amounted to €35 billion (US$42.2 billion), up 27% over 12 months.
France amounted for just over half of the revenue, helped by a sharp increase in revenue from public works and civil engineering – supported by Grand Paris Express projects – and from road, rail and groundworks.
Outside France, revenue was up 7.8% on an actual basis (up 10.6% like-for-like). Growth was driven by the Major Projects division, with the ramp-up of several recently won large contracts – particularly two works packages on the HS2 high-speed rail line in the UK.
The company suffered financial losses last year due to the Covid-19 pandemic - its final year report in 2020 showed its consolidated revenue amounted to €43.2 billion (US$52.1 billion), down 10% from 2019’s €48 billion (US$57.8 billion). These positive first quarter figures provide optimism for the year ahead.
To view the company’s full financial report for the first quarter, click here.