Vinci SA · EURONEXT:DG
Vinci SA — Q1 2020 Earnings Presentation
87 slides from Vinci SA's earnings presentation, 2020
Slide 1: First quarter 2020 highlights
First quarter 2020 highlights VINCI Construction: NHS Nightingale Hospital North West finished within 2 weeks
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking objectives and statements about VINCI’s financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent upon significant risk and uncertainty facto
Slide 3: Grenoble airport used for transport of Covid-19 patients
Grenoble airport: VINCI Concessions infrastructure used for the transportation of Covid-19 patients and of medical equipment 3
Slide 4: VINCI Construction resuming works on the Eole project
VINCI Construction resuming the works on the Eole project (extension of the RER E towards the west of Paris) 4
Slide 5: Q1 2020 highlights
VINCI Ws Q1 2020 highlights
Slide 6: Q1 2020 highlights
Q1 2020 highlights = Stable revenue at €9.7 bn: high business levels in January and February, downturn in March following implementation of Covid-19 containment measures* Marked decrease in passenger numbers at VINCI Airports (-20.9%) Decline in traffic levels at VINCI Autoroutes (-8.6%) Rise in the
Slide 7: Q1 2020 consolidated revenue
Q1 2020 consolidated revenue Δ 2020/2019 € in millions Q1 2020 Q1 2019 Actual Comparable Concessions 1,704 1,661 +2.6% -6.3% VINCI Autoroutes 1,112 1,170 -5.0% -5.0% VINCI Airports 521 419 +24.2% -9.7% Other Concessions (VINCI Highways, VINCI Railways, VINCI Stadium) 71 72 -0.5% -0.8% Contracting 7,
Slide 8: Q1 2020 consolidated revenue evolution by division
Q1 2020 consolidated revenue evolution by division Concessions Real Estate Contracting €1,704 m +2.6% €238 m +24.8% €7,960 m -0.3% Organic Scope FX Organic Organic Scope FX €9,696 m €9,693 m -6.3% +8.7% +0.2% +24.8% -2.4% +2.1% -0.1% Total VINCI Group stable -3.3% +3.3% +0.0% Q1 2019 Organic Scope F
Slide 9: Q1 2020 consolidated revenue evolution by geographical area
Q1 2020 consolidated revenue evolution by geographical area France International €5,223 m -6.3% €4,470 m +8.5% Organic Scope Organic Scope FX €9,693 m €9,696 m -7.1% +0.8% +1.6% +6.9% -0.1% Total VINCI Group stable -3.3% +3.3% +0.0% Q1 2019 Organic Scope FX Q1 2020 Revenue change 9
Slide 10: Concessions: Q1 2020 key takeaways
Concessions: Q1 2020 key takeaways Revenue: €1.7 bn (+2.6% actual, -6.3% lfl*) Other concessions: VINCI Highways, VINCI Railways, VINCI Stadium ▪ Revenue: €1.1 bn (-5.0% actual and lfl*) ▪ Revenue: €0.5 bn (+24.2% actual; -9.7% lfl*) ▪ Revenue: €71 m (-0.5% actual; -0.7% lfl*) ▪ Traffic : -8.6% (-9.
Slide 11: VINCI Autoroutes traffic evolution since 2008
VINCI Autoroutes traffic evolution since 2008 VINCI Autoroutes average traffic growth since Q1 2008 CAGR Q1 2020/ 120 Q1 2008 115 +0.5% HV 110 +1.1% Total 105 +1.2% LV 100 95 90 85 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 08 08 09 09 10 10 11 11 12 12 13 13 14 14 15
Slide 12: VINCI Autoroutes and VINCI Airports Q1 2020 traffic
VINCI Autoroutes and VINCI Airports Q1 2020 traffic Q1 2020 VINCI Autoroutes traffic Q1 2020 VINCI Airports passenger traffic Var Q1 2020/ Passenger traffic (million pax) Q1 2019 Total Portugal -15.3% United-Kingdom -22.7% France -18.1% Cambodia -41.5% -8.6% -9.7% -3.0 % USA -14.3% Brazil -9.4% Serb
Slide 13: Contracting: Q1 2020 key takeaways
Contracting: Q1 2020 key takeaways Revenue : €8.0 bn (-0.3% actual, -2.4% lfl*) o/w France (-6.5% actual, -7.5% lfl*) and International (+6.7% actual, +3.4% lfl*) For the first time, in Q1 2020, more than 50% of Contracting revenue was generated outside France (vs 47% in Q1 2019). ▪ Revenue: €3.2 bn
Slide 14: Contracting order intake in Q1 2020
Contracting order intake in Q1 2020 Order intake up by 4% in Q1 2020 vs Q1 2019 By business line (in € billion) By geographical area (in € billion) +4% 9.8* +4% 9.8* 9.4 9.4 3.8 +15% 4.3 -5% 4.8 5.1 2.3 +5% 2.4 +15% 5.1 4.9* 3.3 -10% 4.3 3.0* Q1 2019 Q1 2020 Q1 2019 Q1 2020 VINCI Energies Eurovia Fr
Slide 15: Contracting order book as of March 31, 2020
Contracting order book as of March 31, 2020 Order book up 8% as of March 2020; International accounts for 57% By business line (in € billion) By geographical area (in € billion) Δ March 20/March 19 Δ March 20/March 19 37.7* +8% +8% 36.5 36.5 37.7* 34.9 34.9 9.1 6.7 10.2 +10% 6.7 9.3 16.4 +3% 15.5 16
Slide 16: Net Debt as of 31 March 2020: €22.0 bn
Financial policy: high and increased level of liquidity Net Debt as of 31 March 2020: €22.0 bn Strong credit rating Liquidity : towards > €18 bn As of March 31st 2020: €5.5 bn net cash managed (record level of liquidity at that stage S&P A-/A2 Outlook stable (vs positive prev.) of the year) €1.6 bn
Slide 17: Impact of the Covid-19 epidemic and 2020 outlook
Impact of the Covid-19 epidemic on VINCI’s activities and 2020 outlook Concessions Contracting France: activity is very gradually resuming for Eurovia and VINCI Construction, after having been almost at a standstill and is running at around 1/3 of estimated normal levels at VINCI Energies VINCI Airp
Slide 18: Shareholders' General Meeting postponed
Shareholder’s General Meeting postponed Given the new constraints resulting from the Covid-19 pandemic, VINCI’s Board of Directors, at its meeting on 26 March 2020, decided to postpone its annual Shareholders’ General Meeting, initially scheduled for 9 April 2020, until a later date The new date of
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Slide 20: Appendices
VINCI Ws Appendices
Slide 21: Financial Data as of March 31, 2020
Financial Data As of March 31, 2020
Slide 22: Q1 2020 consolidated revenue - France
Q1 2020 consolidated revenue - France Δ 2020/2019 € in million Q1 2020 Q1 2019 Actual Like-for-like Concessions 1,215 1,284 -5.4% -5.4% VINCI Autoroutes 1,112 1,170 -5.0% -5.0% VINCI Airports 80 88 -9.0% -9.0% Other Concessions 24 27 -11.0% -11.0% Contracting 3,961 4,235 -6.5% -7.5% VINCI Energies 1
Slide 23: Q1 2020 consolidated revenue - International
Q1 2020 consolidated revenue - International Δ 2020/2019 € in million Q1 2020 Q1 2019 Actual Like-for-like Concessions 488 376 +29.8% -8.6% VINCI Airports 441 332 +33.0% -9.9% Other Concessions 47 45 +5.9% +5.3% Contracting 3,999 3,749 +6.7% +3.4% VINCI Energies 1,739 1,584 +9.8% +2.1% Eurovia 714 6
Slide 24: Other information
VINCI Ws Other information
Slide 25: VINCI 2019 key figures
VINCI 2019 key figures 222,397 €48.1 bn 110 3,200 300,000 €60 bn employees Group revenue countries where estimated number estimated number market cap. at VINCI operates of business units of contracts December 31, 2019 Concessions Real estate Contracting Revenue: €8.5 bn Revenue: €1.3 bn Revenue: €38
Slide 26: Shareholder base at December 31, 2019
Shareholder base at December 31, 2019 France United Kingdom 11.7% 17.1% Rest of Europe Individual investors Institutional 6.8% investors 15.7% 605.2 m 8.8% Employees 72.4% shares 8.3% Treasury shares North America 22.9% 3.7% Qatar Holding LLC 5.0% Rest of the World Shareholding structure* ✓ Over 500
Slide 27: VINCI's constant strategy
VINCI’s constant strategy VINCI’s strategy combines the natural organic growth of its businesses and development through acquisitions CONCESSIONS CONTRACTING ✓ Focus on airports and motorways ✓ Prioritise margin over revenue growth (greenfield, yellowfield and brownfield projects) ✓ Maintain rigorou
Slide 28: A growing internationalisation
A growing internationalisation 2008 revenue geographic breakdown 2019 revenue geographic breakdown 4% 9% 3% 3% 5% 7% 3% 5% €33.5 bn €48.1 bn 20% INCREASED EXPOSURE 55% TO INTERNATIONAL 23% 63% 2008 International Revenue CAGR 2008/2019 2019 International Revenue €12.5 bn +5.1% €21.7 bn France Africa
Slide 29: Strong free cash flow generation and sound cash allocation principles
Strong free cash flow generation and sound cash allocation principles Free cash flow generation from 2009 to 2019: €29 bn total 4,500 4 500 4,000 4 000 CASH ALLOCATION POLICY 3,500 3 500 CAGR: +6.4% 3,000 3 000 2,500 2 500 DIVIDENDS SHARE BUY BACK ACQUISITIONS 2,000 2 000 ✓ 52.5% in 2019 ✓ Eliminate
Slide 30: Steady returns over time
Steady returns over time VINCI ROCE and ROE over the past 5 years 16.6% 16.7% 17.0% 15.7% 13.9% 9.0% 9.3% 9.3% 9.0% 8.5% 2015 2016 2017 2018 2019 ROCE ROE Return on capital employed (ROCE) is net operating income after tax, excluding non-recurring items, divided by the average capital employed at th
Slide 31: Aim for a global performance
Aim for a global performance A sustainable economic project is impossible without an ambitious social, workforce-related and environmental commitment. 31
Slide 32: VINCI's social performance in 2019
VINCI’s social performance in 2019 Aiming for global performance and sharing with our stakeholders the benefits of our performance 2 million 72% 20.3% 4,422,865 142,000 of companies without % of female managers in hours of training provided in 2019 employees owning 9% hours of integration 2019 (vs 1
Slide 33: VINCI's environmental ambition
VINCI’s environmental ambition Developing solutions to improve the living environment, while managing and reducing the impact of our activities in 3 main areas Reduce greenhouse gas emissions and Resource preservation through development Conservation of natural environment guarantee the resilience o
Slide 34: Financial Data as of December 31, 2019
Financial Data As of December 31, 2019
Slide 35: Consolidated revenue
Consolidated revenue Δ 2019/2018 € in million FY 2019 FY 2018 Actual Like-for-like Concessions 8,544 7,261 +17.7% +5.8% VINCI Autoroutes 5,593 5,356 +4.4% +4.4% VINCI Airports 2,631 1,607 +63.7% +8.6% Other Concessions 319 298 +7.0% +13.1% Contracting 38,884 35,769 +8.7% +5.1% VINCI Energies 13,749
Slide 36: 45% of 2019 revenue generated outside France
45% of 2019 revenue generated outside France (43% in 2018) France €26.3 bn +6% 55% Central & North America Eastern Europe +1% +59% €2.2 bn €3.2 bn 5% 7% Western Europe (excl. France) +14% €10.9bn Asia/Middle East/ 22% Oceania +2% Central & €2.6 bn South America +10% Africa 5% €1.3 bn +19% €1.6 bn 3%
Slide 37: Consolidated revenue - France
Consolidated revenue - France Δ 2019/2018 € in million FY 2019 FY 2018 Actual Like-for-like Concessions 6,079 5,809 +4.7% +4.7% VINCI Autoroutes 5,593 5,356 +4.4% +4.4% VINCI Airports 371 341 +8.8% +8.8% Other Concessions 115 112 +3.2% +3.2% Contracting 19,555 18,431 +6.1% +6.0% VINCI Energies 6,158
Slide 38: Consolidated revenue - International
Consolidated revenue - International Δ 2019/2018 € in million FY 2019 FY 2018 Actual Like-for-like Concessions 2,464 1,453 +69.6% +9.7% VINCI Airports 2,261 1,266 +78.5% +8.6% Other Concessions 204 186 +9.2% +19.7% Contracting 19,329 17,338 +11.5% +4.1% VINCI Energies 7,591 6,851 +10.8% +4.6% Eurovi
Slide 39: Income statement
Income statement (in € millions) 2019 2018 Δ 2019/2018 Operating income from ordinary activities (Ebit) 5,734 4,997 +14.8% % of revenue 11.9% 11.5% +40bp - share-based payment expense (IFRS 2) (291) (206) - profit/loss of equity-accounted cos. & miscellaneous 261 133 Recurring operating income 5,704
Slide 40: Ebit by business line
Ebit - operating income from ordinary activities by business line € in million FY 2019 % of revenue* FY 2018 % of revenue* Δ 2019/2018 Concessions 3,989 46.7% 3,429 47.2% +16.3% Contracting 1,654 4.3% 1,472 4.1% +12.3% VINCI Energies 827 6.0% 727 5.8% +13.8% Eurovia 430 4.2% 345 3.9% +24.7% VINCI Co
Slide 41: ROI – Recurring operating income by business line
ROI – Recurring operating income by business line € in million FY 2019 % of revenue* FY 2018 % of revenue* Δ 2019/2018 Concessions 4,146 48.5% 3,456 47.6% +20.0% VINCI Autoroutes 2,948 52.7% 2,635 49.2% +11.9% VINCI Airports 1,187 45.1% 806 50.2% +47.2% Other Concessions 11 15 Contracting 1,461 3.8%
Slide 42: Ebitda
Ebitda* € in million FY 2019 % of revenue** FY 2018 % of revenue** Δ 2019/2018 Concessions 5,796 67.8% 4,963 68.4% +16.8% of which: VINCI Autoroutes 4,178 74.7% 3,895 72.7% +7.3% VINCI Airports 1,466 55.7% 941 58.6% +55.7% Contracting 2,446 6.3% 1,815 5.1% +34.8% VINCI Immobilier 93 7.1% 79 7.1% +18
Slide 43: Cash flow statement (1/2)
Cash flow statement (1/2) € in million FY 2019 FY 2018 Ebitda* 8,497 6,898 Change in WCR** and current provisions 428 (266) Income taxes paid (1,547) (1,222) Net interest paid (458) (444) Dividends received from companies accounted for under the equity method 170 176 Net operating CAPEX (1,249) (986
Slide 44: Average cash conversion over the last 5 years: 119%
A high level of free-cash flow and cash conversion over the last 5 years Average cash conversion* over the last 5 years: 119% 5 000 142% 129% 4 500 124% 120% 4 000 107% 3 500 92% 3 000 80% 2 500 2 000 4.2 3.0 3.2 1 500 2.9 40% 1 000 2.5 500 0 0% 2015 2016 2017 2018 2019 FCF in €bn Cash conversion in
Slide 45: Cash flow statement (2/2)
Cash flow statement (2/2) € in million FY 2019 FY 2018 Free cash flow (after CAPEX) 4,201 3,179 Net financial investments and other cash flows1 (8,335) (2,802) Cash flow before movements in share capital (4,134) 377 Share capital increases and other operations2 933 444 Dividends3 (1,772) (1,443) Sha
Slide 46: Operating CAPEX
Operating CAPEX € in million FY 2019 FY 2018 Δ 2019/2018 Concessions 242 46 +196 VINCI Autoroutes 24 19 +5 VINCI Airports 205* 12 +193 Other Concessions 12 14 -2 Contracting 969 918 +51 VINCI Energies 160 196 -36 Eurovia 342 312 +30 VINCI Construction 466 409 +57 VINCI Immobilier and holdings 155 13
Slide 47: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs € in million FY 2019 FY 2018 Δ 2019/2018 Concessions 1,026 980 +46 VINCI Autoroutes 775 673 +102 Of which : ASF 266 364 -98 Escota 92 80 +13 Cofiroute 181 158 +24 Arcos 227 68 +159 VINCI Airports 248 274 -26 Other Concessions 3 33 -30 Contracting 39 (2) +41 Net g
Slide 48: Consolidated balance sheet
Consolidated balance sheet (in € million) 31 Dec. 2019 31 Dec. 2018 Non-current assets – concessions 42,968 32,786 Non-current assets – contracting and other 13,998 11,699 WCR, provisions and other current assets & liabilities (6,965) (6,214) Capital employed 50,001 38,270 Equity (23,042) (19,818) L
Slide 49: Net financial debt by business line
Net financial debt by business line Of which Of which Δ 31 Dec. 2019/ Net Debt / Ebitda 31 Dec. 2019 external 31 Dec. 2018 external in € million net debt net debt 31 Dec. 2018 31 Dec. 2019 Concessions (33,952) (19,901) (27,029) (16,000) -6,923 x 5.9 VINCI Autoroutes (19,964) (14,275) (20,345) (14,65
Slide 50: Change in net financial debt during 2019
Change in net financial debt during 2019 €6.1 bn increase of net financial debt in 2019, of which LGW impact: €7.3 bn Share buy-backs** misc. (0.9) (0.2) Acquisitions/ (21.7) Disposals (8.3) Ebitda Capital increases*** (15.6) Dividends 8.5 0.9 LGW (1.8) Capex (7.7) Δ Working Interest & (2.9)* Capita
Slide 51: Financial policy: liquidity increase and conditions optimised
Financial policy: liquidity increase and conditions optimised Strong credit rating Debt refinancing in excellent market conditions S&P A-/A2 Outlook positive €4.6 bn new debt issued in 2019 with a 12 years average maturity and a Confirmed in June 2019 2.14% average cost after hedging Moody’s A3/P1 O
Slide 52: Financial policy: optimisation of average cost of debt
Financial policy: optimisation of average cost of debt Decrease of gross financial debt cost over the past 5 years (average rate) and slight increase in 2019… 3.6% 3.5% FY 2014 FY 2015 3.2% FY 2016 2.7% 2.3% 2.4% FY 2017 FY 2018 FY 2019 … due to a change of currency mix : 59% 26% 98% 86% € £ € 31 De
Slide 53: A natural hedging against interest rates rise
A natural hedging against interest rates rise Natural hedge between floating rate + inflation linked debt and Ebitda (linked to inflation) + net cash managed (remunerated based on short-term floating rate) Evolution of the gross financial debt breakdown between fixed and floating rates portions (in
Slide 54: Impact of LGW integration on VINCI net financial debt
Total impact of LGW integration on VINCI net financial debt as of 31/12/2019: €7.3 bn LGW acquisition impact on VINCI net financial debt (in £ bn) PPA minorities shareholder adjustments* loan adjustment (0.5) 0.3 (6.3)** (6.2) LGW net debt + derivatives (2.8) Shareholder loan (minorities’ stake) (0.
Slide 55: Maturity of gross financial debt
Maturity of gross financial debt Average maturity of gross financial debt (€28.4 bn) as of December 31, 2019: 8.1 years * 3 500 3 000 2 500 € Millions 2 000 1 500 1 000 500 0 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 > 2035 * Concessions : 8.5 years ASF Cofiroute Oth
Slide 56: Average cost of future debt repayment
Average cost of future debt repayment ASF Cofiroute Arcour VINCI Airports Other concessions Holdings and misc. 3 000 2 500 2 000 1 500 1 000 500 0 2020 2021 2022 2023 2024 2025 Nominal amount in € millions 2,037 1,613 2,577 1,675 1,533 1,764 Average rate * 2.14% 2.78% 2.63% 1.79% 3.15% 0.68% *After
Slide 57: Business line profiles
VINCI Ws Business line profiles
Slide 58: Concessions Profile
Concessions Profile Revenue and Ebitda margin evolution over the last 5 years 2019 revenue by geographical area Revenue CAGR (since 2014): +8.0% 5% 9,0 8.5 75,0% 4% 6.9 7.3 9% 6.3 France 5.8 Portugal 5,5 68.4% 70,0% 11% 68.3% €8.5 bn UK 67.8% 67.8% 67.8% Americas 2,0 65,0% 71% RoW 2015 2016 2017 201
Slide 59: VINCI Autoroutes and VINCI Airports 2019 traffic
VINCI Autoroutes and VINCI Airports 2019 traffic FY 2019 VINCI Airports passenger traffic FY 2019 VINCI Autoroutes traffic Var 2019/ Var T4 19/ Passenger traffic (million pax) FY 2019 2018 T4 18 Total Portugal 59.1 +6.9% +6.4% United- Kingdom 52.9 +1.0% -0.6% France 20.6 +8.5% +4.7% +2.8% +2.8% +3.1
Slide 60: Concessions capex forecasts
Concessions capex* forecasts In € million 2 000 VINCI Autoroutes 1 800 VINCI Airports 1 600 1 400 1 200 1 000 Highlights 800 • VINCI Autoroutes capex include the 2015 Stimulus 600 Plan, the motorway Investment Plan and the 400 construction of Arcos (A355) 200 • VINCI Airports capex include the expan
Slide 61: Non-controlling stakes in concessions
Non-controlling stakes in concessions VINCI share, based on best estimates as of 31.12.2019 Projects consolidated by the equity method, excluding ADP In € millions Equity committed Equity invested Equity to be at 31.12.2019 invested Kansai Airports (Japan) 253 253 0 Santiago Airport (Chile) 196 135
Slide 62: VINCI Autoroutes
VINCI Ws VINCI Autoroutes
Slide 63: VINCI Autoroutes in 2019
VINCI Autoroutes in 2019 Revenue and Ebitda margin over the past 5 years Revenue CAGR (since 2014): +3.3% 6,0 76,0% VINCI Autoroutes average traffic growth over 10 years 5.6 5.4 5.1 5.3 CAGR Q4 2019/ 4.9 75,0%125 Q4 2009 73.0% 74.7% 72.2% 72.6% 74,0%120 +1.8% HV 72.7% +1.4% Total 3,5 73,0%115 +1.4%
Slide 64: VINCI Autoroutes - France's leading toll road concession operator
VINCI Autoroutes - France’s leading Toll Road concession operator A strategic location network 4,443 km approx. 50% >35% GCO* under concession of conceded French of total motorway toll roads network in France Intercity (1) network End of concession Apr. 2036 Feb. 2032 Jun. 2034 Dec. 2086 Dec. 2070 J
Slide 65: VINCI Autoroutes - tariff contractually CPI-linked
VINCI Autoroutes - tariff contractually CPI-linked Contractual framework of toll increases (LVs) ASF Escota Cofiroute Intercity Network End of 2036 2032 2034 concession 2020* +0.956% +0.885% +0.715% 70% x i 70% x i 70% x i 2021 + 0.39% (2015 toll freeze) + 0.25 % (2015 toll freeze) + 0.10% (2015 tol
Slide 66: VINCI Airports
VINCI Hs VINCI Airports
Slide 67: VINCI Airports in 2019
VINCI Airports in 2019 Revenue and Ebitda margin over the past 5 years VINCI Airports: 2019 Revenue and Ebitda by country Revenue CAGR (since 2014): +30% 2.6 67,5% 23% 23% 100 1.6 40% 400 1.4 14% Revenue 34% Ebitda 55.7% 57,5% 9% €1,466 m 0.8 1.1 €2,631m 58.6% 57.3% 700 50.2% 53.3% 28% 29% 0 47,5% 2
Slide 68: VINCI Airports, 2nd airport operator worldwide
VINCI Airports, 2nd airport operator worldwide The most geographically diversified airports operator Passengers traffic1 (millions of pax.) evolution 45 platforms in 12 countries 255 195 157 132 69 Passengers traffic* (millions of pax.) evolution 43 47 10 2012 2013 2014 2015 2016 2017 2018 2019 1 Da
Slide 69: VINCI Airports network (1/2)
VINCI Airports network (1/2) VINCI AIRPORTS VINCI Country Name Description mPAX in 2019 End of concession Traffic risk Consolidation* share London Gatwick Freehold 46.6 - 50% Yes Full consolidation UK Belfast International Freehold 6.3 2993 100% Yes Full consolidation ANA Portugal (10 airports in Li
Slide 70: VINCI Airports network (2/2)
VINCI Airports network (2/2) VINCI AIRPORTS VINCI Country Name Description mPAX in 2019 End of concession Traffic risk Consolidation* share Orlando-Sanford Concession 3.3 2039 100% Yes Full consolidation USA 4 airports : Hollywood Burbank Airport in California, Management 7.0 Atlantic City in New Je
Slide 71: Integration of Gatwick in May 2019
Integration of Gatwick in May 2019 INDUSTRIAL RATIONALE VALUE CREATION Reasonable price resulting from balanced negotiations, ✓ Freehold airport: extension of our concessions which meets our investment and capital discipline criteria portfolio maturity ✓ Resilient asset (congested airport in a const
Slide 72: Expansion of Lisbon's airport capacity
VINCI Airports (ANA) - project for the expansion of Lisbon’s airport capacity MOU signed in January 2019 with the Portuguese government ANA shall invest €1.15 billion by 2028: - €650 million for the first phase of the extension of the existing Lisbon airport - €500 million for the conversion of the
Slide 73: VINCI Highways and other concessions
VINCI Highways and other concessions
Slide 74: Other concessions in 2019
Other concessions in 2019 Revenue over the past 5 years Key takeaways Revenue CAGR (since 2014): +25% ▪ Revenue growth in 2019 vs 2018: +7.0% (+13.1% like for like) ✓ Lamsac : €116 m (+24%) Lamsac’s acquisition 319 ✓ Gefyra (Rion-Antirion bridge in Greece): €42 m (+3%) (Peru) 298 258 ✓ VINCI Stadium
Slide 75: VINCI Highways - Electronic Toll Collection developments
VINCI Highways - Electronic Toll Collection (ETC) developments Managed revenue of ETC in 2019: €41 m (vs €19 m in 2018) Serving about 1,2 million ETC subscribers worldwide Russian M50 Interoperability (Dublin ringroad) SR91 Greece Express Lanes CTRMA NTTA Toll Plus ICICI Bank VIA 40 Bank of Baroda E
Slide 76: VINCI Highways
VINCI Highways VINCI HIGHWAYS Country Type Name Description End of concession VINCI share Traffic risk Consolidation Road Infrastructure Motorway A7 Bockenem-Göttingen 60 km 2047 50% no Equity method Motorway A4 Horselberg 45 km 2037 50% yes Equity method Germany Motorway A9 Thuringia/Bavarian borde
Slide 77: VINCI Highways and VINCI Stadium
VINCI Highways and VINCI Stadium Country Type Name Description End of concession VINCI share Traffic risk Consolidation* Bridges & Tunnels Tunnel Prado Carénage 2.1 km road tunnel, Marseille 2032 33.3% yes Equity method France Tunnel Prado Sud 1.9 km road tunnel, Marseille 2055 58.5% yes Equity meth
Slide 78: VINCI Railways and other concessions
VINCI Railways and other concessions VINCI Railways Country Type Name Description End of concession VINCI share Traffic risk Consolidation Rail Rhônexpress 23 km light rail system, Lyon 2038 35% yes Equity method Rail GSM-Rail Ground-train communication system on 14,000 km of track 2025 70% no Equit
Slide 79: Contracting
VINCI Hs Contracting
Slide 80: Contracting profile
Contracting profile Revenue and Ebit margin evolution over the last 5 years 2019 revenue by geographical area Revenue CAGR (since 2014): +3.4% France 11% 38.9 4% Germany 40,0 35.8 4,5% 32.6 32.8 UK 31.5 5% 4.3% Central & Eastern Europe 4,0% 4.1% 10% €38.9 bn 50% Rest of Europe 20,0 3.8% USA 3.7% 3,5
Slide 81: VINCI Energies: digital transformation and energy transition
VINCI Energies: making digital transformation and the energy transition a reality Revenue and Ebit margin over the past 5 years 2019 revenue by geographical area Revenue CAGR (since 2014): +8.1% 1,800 Business 3% 5% 13.7 6% France 12.6 Units 6,0% Germany 12,0 10.2 10.2 10.8 45% Scandinavia 21% €13.7
Slide 82: Eurovia: developing sustainable mobility solutions
Eurovia: developing sustainable mobility solutions for communities Revenue and Ebit margin over the past 5 years 2019 revenue by geographical area Revenue CAGR (since 2014): +4.5% 500 France Business 6% 2% Germany Units 11% 10.2 5,0% UK 8.9 9,0 8.1 4,5% 2% 7.9 7.6 4.2% Central & Eastern Europe 3.9%
Slide 83: VINCI Construction, France's leading construction company
VINCI Construction, France’s leading construction company and a major global player Revenue and Ebit margin over the past 5 years 2019 revenue by geographical area Revenue CAGR (since 2014): -0.6% 836 4% France Business 8% UK 14.5 14.2 14.9 3,5% Units 13.7 14.0 7% Central & Eastern Europe Rest of Eu
Slide 84: The Grand Paris Express project
The Grand Paris Express project €8.4 bn attributed as of December 2019, o/w around €1.9 bn to VINCI entities Line 17 4 new metro lines around Paris and 2 line extensions Line 11 Line 16 €28 bn 200 km 68 Line 15 to €35 bn Automatic New stations Construction metro lines budget* Line 15 Line 14 Expecte
Slide 85: VINCI Immobilier
VINCI Hs VINCI Immobilier
Slide 86: VINCI Immobilier
VINCI Immobilier Revenue over the past 5 years 2019 reservations by destination Revenue CAGR (since 2014): +17.6% €1.6 bn 1.3 2019 managed 1.1 Social, revenue* 0.9 Institutional Buy to let private 0.8 30% 31% 0.7 investors 6,215 Presence in 2015 2016 2017 2018 2019 23 Managed 11% cities Residences 2
Slide 87: IR team
IR team Grégoire THIBAULT Alexandra BOURNAZEL Head of investor relations Deputy-head of investor relations gregoire.thibault@vinci.com alexandra.bournazel@vinci.com Tel: +33 1 47 16 45 07 Tel: +33 1 47 16 33 46 Walid LOUNIS Aurélie GODIN Investor relations officer Investor relations officer walid.lo