Vinci Sa · EURONEXT:DG
Vinci Sa — Vinci Sa Act — Q4 2023 Earnings Presentation
110 slides from Vinci Sa's earnings presentation, Feb 8, 2024
Slide 1: Stade de France: Official Supporter of 2024 Olympic Games
Stade de France VINCI is an Official Supporter of the 2024 Olympic and Paralympic Games
Slide 2: Forward-looking statements
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 factors that may
Slide 3: VINCI Autoroutes: ASF contract amendment for Montpellier bypass
VINCI Autoroutes: The amendment to the ASF concession contract, regarding the financing of the Montpellier Western bypass, has been approved by decree 3
Slide 4: VINCI Airports: Aerodom concession extended to 2060
Closing à confirmer VINCI Airports: a 30-year concession extension (until 2060) approved for Aerodom, concessionaire of 6 airports in Dominican Republic 4
Slide 5: VINCI Highways: Entrevias motorway duplications in Brazil
VINCI Highways: commissioning by Entrevias - concessionaire of 2 motorways (570 km in total) in the State of São Paulo in Brazil and owned at 55% by VINCI since May 23 - of the duplication of two motorway sections (64 km in total) 5
Slide 6: VINCI Energies: €200m electrical infrastructure contract in Senegal
Photo à changer + description VINCI Energies: a €200 million contract to build electrical infrastructure in Senegal (1,350 km of transmission lines and 8 very-high-voltage transformer stations) 6
Slide 7: Cobra IS: 35-year PPP in New South Wales
Photo à changer + description Cobra IS: signing of a commitment deed contract for a 35-year major PPP of high-voltage electrical transmission lines in New South Wales (Australia) 7
Slide 8: VINCI Construction: LNG tank contract in the Netherlands
VINCI Construction: a €160 m design-build contract for a 180,000 m3 LNG tank in the Netherlands 8
Slide 9: VINCI Immobilier: Arborescence project in Angers
VINCI Immobilier: Arborescence, an 8,200 m2 mixed-use and intergenerational project to be delivered in the historical centre of Angers (France) 9
Slide 10: FY 2023 highlights
FY 2023 hightight® ae Xavier Huillard a Chairman: and Chief Executive Officer
Slide 11: Strong growth of revenue and earnings to new all-time highs
Strong growth of revenue and earnings to new all-time highs VINCI Autoroutes: full-year traffic up year-on-year despite high fuel prices VINCI Airports: continued recovery in pax with Q4 23 overall traffic above pre-pandemic levels – sharp Ebitda growth VINCI Highways: strengthening of its internati
Slide 12: Key figures in € million
Data in € million (unless otherwise specified) 12 * Cash flow from operations before tax and financing costs
Slide 13: Revenue by business line
€29.6 bn €20.5 bn +6% +16% €5.4 bn +9% €3.1 bn +22% €4.3 bn +31% €4.1 bn +13% €1.9 bn +6% FY 2023/FY 2022 change Contribution to FY 2023 revenue 13
Slide 14: VINCI Autoroutes key takeaways
Key takeaways ◼ Q4 2023 traffic levels remained resilient (+1.3% vs Q4 22, of which +1.7% in LV, -1.3% in HV) – Traffic stable in December, despite negative calendar effects* ◼ FY 2023 traffic levels above those of FY 2022 (+1.3%) – LV +1.7%, despite high fuel prices – HV -1.3%, slight decline notab
Slide 15: VINCI Airports key takeaways
Key takeaways ◼ Continued recovery in passenger numbers, with traffic above its 2019 level for the first time in Q4 23 ◼ Record high passenger numbers in Portugal, Serbia, Mexico, Portugal Dominican Republic and Costa Rica Mexico ◼ In Japan**, strong recovery of traffic over the last months, especia
Slide 16: VINCI Highways key takeaways
Key takeaways ◼ Strengthening of VINCI Highways international footprint – In April 2023, acquisition of an additional 25% stake (total stake up to 75%) in Via Sumapaz (ex-Vía 40 Express), concession company of the Bogotá-Girardot motorway (Colombia), now fully consolidated in VINCI’s accounts – In M
Slide 17: Other concessions key takeaways
Key takeaways ◼ VINCI Stadium revenue: €254 m (2.5x FY 22 revenue), taking into account the Rugby World Cup France 2023 ◼ VINCI Railways: offer of seats on SEA HSL up 3% in FY 23 vs FY 22 ◼ eliso GmbH: attribution of a 12-year concession contract to acquire land, instal and operate 106 ultra-fast ch
Slide 18: VINCI order intake at €61.9 bn
VINCI order intake at €61.9 bn, +11% yoy fuelled by firm activity levels in flow business and several large contracts won over the year By business line (in € billion) By geographical area (in € billion) 61.9 61.9 55.7 (1) 55.7 (1) 10.3 (3) 8.0 24.4 42.4 42.4 21.2 17.9 20.9 16.1 19.3 (1) (1) 19.6 24
Slide 19: VINCI Energies key takeaways
Key takeaways Revenue change vs FY 22 and ◼ Revenue strongly up vs FY 2022 (+15% actual, +11% lfl) across split by geographical area the 4 business lines* – France revenue up 11% (+10% lfl) France – International revenue up 19% (+11% lfl) +11% ◼ M&A: 34 acquisitions closed in FY 2023 – 13 in France
Slide 20: Cobra IS key takeaways
Revenue change vs FY 22 and split by geographical area Key takeaways Spain +16% ◼ €6.5 bn revenue, up 18% vs FY 2022 (both actual and lfl) – Ramp-up in EPC* projects – Flow business remains sustained overall, notably in the Outside Iberian peninsula Spain +19% ◼ 44% of revenue coming from Spain, 33%
Slide 21: Renewable assets in operation and under construction
At the end of December 2023 ASSETS IN OPERATION ASSETS UNDER CONSTRUCTION Solar PV Brazil Solar PV 100% 95% 100% Brazil 45% Spain 55% Portugal 5% FY 22 FY 23 FY 22 FY 23 FY 24+ * €0.3 bn €0.1 bn €0.1 bn €0.2 bn €0.7 bn 21 * Estimated amount
Slide 22: VINCI Construction key takeaways
Key takeaways Revenue change vs FY 22 and ◼ Revenue up 8% vs FY 2022 (+9% lfl) split by geographical area – France: revenue up 5%. Activity remains sustained in civil engineering and road works. In the building segment, business was driven by rehabilitation projects and by construction works France
Slide 23: VINCI Immobilier key takeaways
Key takeaways ◼ Going through a conjunctural deep crisis in France in a context of high interest rates ◼ Consolidated revenue down 19% ◼ Housing reservations in France down 30% vs FY 2022 – Despite several block sales of housing units to social institutions completed at the end of the year ◼ Continu
Slide 24: FY 2023 financials
FY 2023'finanel — Christiag-Labeyrie --. “i Executive Vice President — ———— and Chief Financial Officer
Slide 25: Total VINCI Group revenue change
* FY 2023 €6,324 m €4,608 m €19,327 m €6,495 m €31,459 m €1,231 m revenue vs FY 2022 +€321 m +€1,449 m +45.9% +€2,578 m +15.4% +€975 m, +17.7% +€2,207 m +7.5% €(292) m o/w VINCI Airports: +€1,268 m, +47.3% Organic Scope FX Organic Scope FX Organic Scope FX €68,838 m Organic Scope FX +0.2% (1.3)% (19
Slide 26: Total VINCI Group revenue change: France and international
FY 2023 revenue / €29,615 m / 43% €39,224 m / 57% Group contribution vs FY 2022 +€1,667 m +6.0% +€5,496 m +16.3% Organic Scope Organic Scope FX €68,838 m (1.6)% +4.4% €61,675 m +0.2% +13.4% +5.8% Total VINCI Group revenue change vs FY 2022 +11.6% +9.9% +2.5% (0.9)% Organic Scope FX 26
Slide 27: VINCI Group Ebit €8,357 million
VINCI Group Ebit: €8,357 million (+1,533 vs FY 22, ie +22%) Ebit margin: 12.1% (+100 bp vs FY 22) +235 3,362 +907 3,127 1,889 +214 +160 1,356 1,260 1,142 1,100 53.2% 983 52.1% +79 47.9% -133 7.0% 490 4.0% 36.7% 6.8% 411 3.8% 7.5% 79 7.4% (53) 5.2% (4.3)% 27 (Ebit in € million and Ebit margin as % of
Slide 28: Ebit to net income
(in € million) FY 2023 FY 2022 Δ 2023/2022 Operating income from ordinary activities (Ebit) 8,357 6,824 +22% % of revenue 12.1% 11.1% Share-based payment expense (IFRS 2) (360) (356) Profit/loss of equity-accounted cos. & miscellaneous 178 14 Recurring operating income 8,175 6,481 +26% 1 Non-recurri
Slide 29: Free cash flow €6,628 m and net financial debt
Free cash flow: €6,628 m vs €5,433 m in FY 2022 (18.5) (16.1) Dividends/Share Acquisitions / buyback & Disposals miscellaneous Capex 1 (1.0) (3.2) EBITDA (3.8) 12.0 Δ Working capital Interests & taxes requirement paid 1.5 (3.0) Net financial debt Net financial debt at 31 Dec. 2022 Concessions Energy
Slide 30: Seasonal development of free cash flow
Seasonal development of free cash flow, December contributing significantly to the annual amount (in € billions) 8.0 Contribution to full-year FCF 7.0 2023 2022 6.0 H1 4% (5)% 5.0 4.0 H2 96% 105% 3.0 o/w Dec. 32% 44% 2.0 1.0 FY 100% 100% 0.0 -1.0 -2.0 Jan. Feb. March Apr. May June July Aug. Sep. Oct
Slide 31: Free cash flow generation 2014 to 2023
FCF Net income Free cash flow generation 2014 to 2023: €39.4 bn total 10-year CAGR 10-year CAGR +12% +9% FCF: +16% CAGR 6.6 5.3 5.4 4.7 in € million 4.2 4.3 4.0 3.3 3.0 2.9 3.0 3.2 2.5 2.5 2.7 2.5 2.6 2.2 2.0 1.2 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Net income FCF 31
Slide 32: Capital employed and financing
Δ 31 Dec. 23 / 31 Dec. 22 Non-current assets – Concessions 43,955 42,881 +1,075 Non-current assets – Energy, Construction and misc. 24,074 22,655 +1,419 WCR, provisions and other current assets & liabilities (15,176) (13,071) -2,106 Capital employed 52,853 52,465 +388 Equity (32,040) (29,409) -2,631
Slide 33: Group financial breakdown by division
1% 2% -1% 14% 5% 16% 6% 46% 9% 15% Revenue 14% Ebitda ROI* 7% €68.8 bn €12.0 bn €8.2 bn 39% 41% 23% 26% 9% 28% VINCI Autoroutes VINCI Concessions VINCI Energies Cobra IS VINCI Construction 1% 6% 1% 4% 17% -1% 18% 8% 9% VINCI Immobilier & holdings 6% 18% Net income Free cash Capital 21% employed €4.7
Slide 34: Solid credit rating and liquidity
Solid credit rating Substantial liquidity and solid credit rating A- Outlook stable Confirmed for VINCI in November 2023 High level of liquidity A3 Outlook stable 19.7 Confirmed for VINCI in July 2023 19.7 10.5 -4 6.5 Optimised financing in challenging markets At corporate level (VINCI SA and ASF) D
Slide 35: Optimising the average cost of debt
Optimising the average cost of debt in a challenging environment Gross financial debt cost over the past 5 years Cost of gross financial debt over the past 5 years (average rate) 4.0% * (closing rate) 2.4% 2.3% 2.5% Dec22 2.1% Dec19 Dec20 Dec21 FY 2019 FY 2020 FY 2022 FY 2021 Dec22 Breakdown of debt
Slide 36: Outlook and strategy
> and ctestegy™ — Xavier Huillard — ‘Chairman and Chief Executive 6icer™
Slide 37: VINCI Autoroutes traffic
VINCI Autoroutes - Rolling twelve months traffic over 10 years FY 2023 VINCI Autoroutes traffic CAGR Q4 2023/ 130 Q4 2013 Total 125 HV +2.2% Δ FY 2023/FY 2022 +1.3% +1.7% -1.3% 120 Total +1.5% 115 LV +1.4% Of which, mainly: 110 105 100 ASF +1.3% +1.8% -1.2% 95 90 Escota +1.9% +2.1% -0.0% 85 80 Cofir
Slide 38: VINCI Airports monthly passenger numbers vs 2019
Change in VINCI Airports monthly passenger numbers (vs. 2019) 40% 20% VINCI Airports -4% 0% Dominican -20% Republic +17% -40% Mexico +16% -60% Portugal +12% -80% UK -11% -100% France -15% 2020 2021 2022 2023 Japan -20% VINCI Airports Aerodom (Dom. Rep.) OMA (Mexico) ANA (Portugal) UK France Japan 38
Slide 39: Order book by business line and geography
International accounts for 67% of the order book, of which: • • By business line (in € billion) By geographical area (in € billion) 61.4 12.9 61.4 57.3 57.3 52.7 26.6 52.7 11.1 14.4 20.0 8.3 17.8 16.8 12.4 14.3 8.9 11.0 21.5 25.6 20.0 33.4 33.8 32.7 12.5 16.0 17.9 15.8 December 2021 December 2022 De
Slide 40: 2024 outlook
VINCI Autoroutes: traffic levels slightly up VINCI Energies: VINCI Construction: compared to those seen in 2023 ▪ Further organic revenue growth but lower than in 2023 ▪ Business levels stabilised close to those ▪ Confirmation of its high-level operating margin of 2023 VINCI Airports: ▪ Further impr
Slide 41: 2023 dividend per share
2023 dividend per share (all-cash) to be 23 April 2024 Ex-date proposed to the Shareholders’ General Meeting of 9 April 2024 25 April 2024 Payment date 4.50 4.00 3.05 * 2.90 2.67 Total dividend (–) interim dividend 2.45 2.22 2.10 2.04 2.04 1.77 1.84 Interim dividend Special dividend linked to the di
Slide 42: Group Ebitda breakdown 2006 vs 2023
Group Ebitda breakdown in 2023 €0.3 bn / 2% +€8.0 bn €1.9 bn / 16% Group Ebitda breakdown in 2006* +€2.3 bn €2.3 bn / 19% +€2.7 bn +€2.1 bn €4.7 bn / 39% €0.2 bn / 6% +€0.8 bn €2.8 bn / 23% *** €2.4 bn / 59% €1.1 bn / 28% +€0.1 bn €0.2 bn / 6% €0.1 bn / 2% 2006 PF - VA 206 PF - Autres 2023 - VA 2023
Slide 43: 2023 developments in concessions and energy
July 2023: financial closing of a 40-year concession January 2023: acquisition of Otera AS in Norway agreement for the 7 airports in Cape Verde (~€150 m revenue) archipelago (2.6 mpax in 2023) December 2023: extension of the concession contract of Aerodom (6 airports in Dominican Republic of which t
Slide 44: Act for the climate and circular economy
Optimise resources thanks Preserve Act for the climate to circular economy natural environments Scopes 1 & 2 emissions in 2023 of recycled materials Towards (over 56 in total) using zero recycled materials out of VINCI Construction total annual phytosanitary products for GHG emissions production in
Slide 45: CDP ratings and EU taxonomy alignment
of eligible revenue of aligned revenue 2023 2022 2021 2020 Transparency score: 98% CDP Climate A- A A A- CDP Water Security B B B B CDP Forest C C C C airports achieved Net Zero « Best in class » in 2023 (in heavy construction sector) emissions for Scopes 1 and 2 45
Slide 46: Social commitments
More than long-term unemployed female managers in 2023 hours of training provided of all employees can of companies without lost- (vs 18.5% in 2016) subscribe to an employee people supported in 2023 in 2023 time occupational accidents share ownership on integration programmes programme workplace acc
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Slide 49: Financial data as of December 31, 2023
_ Financial data ~~ —~-—-— as of December 31, 2023 | ¥ #
Slide 50: Total revenue
Δ 2023/2022 in € million Concessions* 10,932 9,162 +19.3% +12.6% VINCI Autoroutes 6,324 6,003 +5.3% +5.3% VINCI Airports 3,947 2,679 +47.3% +24.3% VINCI Highways 352 328 +7.2% +7.4% Other concessions** 309 151 x2.0 x2.0 VINCI Energies 19,327 16,748 +15.4% +10.9% Cobra IS 6,495 5,520 +17.7% +17.9% VI
Slide 51: Total revenue: France
Δ 2023/2022 in € million Concessions* 7,004 6,485 +8.0% +8.0% VINCI Autoroutes 6,324 6,003 +5.3% +5.3% VINCI Airports 374 334 +12.0% +12.0% Other concessions** 306 148 x2.1 x2.1 VINCI Energies 8,170 7,366 +10.9% +10.2% Cobra IS 50 37 +35.6% +35.6% VINCI Construction 13,678 13,064 +4.7% +4.7% VINCI I
Slide 52: Total revenue: International
Δ 2023/2022 in € million Concessions* 3,928 2,676 +46.8% +23.8% VINCI Airports 3,573 2,346 +52.3% +26.1% VINCI Highways 352 328 +7.2% +7.4% Other concessions** 3 3 VINCI Energies 11,157 9,382 +18.9% +11.5% Cobra IS 6,445 5,483 +17.5% +17.7% VINCI Construction 17,781 16,188 +9.8% +11.9% VINCI Immobil
Slide 53: Ebitda
in € million Concessions 7,462 68.3% 6,200 67.7% +1,262 o/w VINCI Autoroutes 4,683 74.0% 4,419 73.6% +264 o/w VINCI Airports 2,495 63.2% 1,580 59.0% +915 o/w VINCI Highways 172 48.8% 147 44.7% +25 VINCI Energies 1,672 8.6% 1,426 8.5% +246 Cobra IS 627 9.6% 509 9.2% +117 VINCI Construction 1,905 6.1%
Slide 54: VINCI Group Ebitda €11,964 million
VINCI Group Ebitda: €11,964 million (+1,749 vs FY 22) Ebitda margin: 17.4% (+80 bp vs FY 22) +264 4,683 +915 4,419 +198 2,495 +246 1,905 1,672 1,707 1,580 74.0% 1,426 +117 73.6% 63.2% -127 6.1% 59.0% 8.6% 627 5.8% 8.5% 509 114 9.2% 9.6% (13) 7.5% (1.1)% (Ebitda in € million and Ebitda margin as % of
Slide 55: Ebit
in € million Concessions 5,373 49.2% 4,171 45.5% +1,203 VINCI Autoroutes 3,362 53.2% 3,127 52.1% +235 VINCI Airports 1,889 47.9% 983 36.7% +907 VINCI Highways 62 17.7% 47 14.2% +16 Other concessions** 60 15 +45 VINCI Energies 1,356 7.0% 1,142 6.8% +214 Cobra IS 490 7.5% 411 7.4% +79 VINCI Constructi
Slide 56: Net income attributable to owners of the parent
in € million Concessions 2,778 2,707 +71 VINCI Autoroutes 2,021 2,208 -186 VINCI Airports 733 507 +226 VINCI Highways 24 (10) +34 Other concessions* 0 3 VINCI Energies 830 693 +137 Cobra IS 262 218 +44 VINCI Construction 793 680 +113 VINCI Immobilier (48) 63 -112 Holding companies 88 (102) Net incom
Slide 57: Cash flows from operating activities and free cash flow
in € million Ebitda 11,964 10,215 Change in WCR* and current provisions 1,463 392 Income taxes paid (2,288) (1,603) Net interest paid (802) 1 (563) Dividends received from companies accounted for under the equity method 110 92 Cash flows from operating activities (excl. other long-term advances) 10,
Slide 58: Change in net financial debt
in € million Free cash flow (after CAPEX) 6,628 5,433 Net financial investments and other cash flows (974) (2,677) Cash flow before movements in share capital 5,655 2,757 Share capital increases and other operations 707 438 Dividends (2,481) (1,892) Share buy backs (397) (1,100) Net cash flow for th
Slide 59: Operating CAPEX
in € million Concessions 229 123 +105 VINCI Autoroutes 21 21 +0 VINCI Airports* 201 94 +106 Other concessions** 7 8 -1 VINCI Energies 277 214 +63 1 3 Cobra IS 6252 465 +161 VINCI Construction 1,010 900 +110 VINCI Immobilier and holdings 17 65 -48 Purchases of tangible and intangible assets 2,158 1,7
Slide 60: Net growth CAPEX in concessions and PPPs
in € million Concessions 1,033 725 +308 VINCI Autoroutes 585 578 +7 Of which: ASF 209 227 -18 Escota 177 144 +33 Cofiroute 190 200 -10 VINCI Airports 391 152 +239 Other concessions* 57 (5) +62 VINCI Energies (1) (2) +1 Cobra IS 127 145 -18 VINCI Construction (29) (33) +3 Net growth CAPEX in concessi
Slide 61: Net financial debt
Of which Of which in € million external external net debt net debt Concessions (28,734) (18,761) (31,735) (18,880) VINCI Autoroutes (16,533) (12,323) (16,985) (12,578) VINCI Airports (8,781) (5,551) (11,131) (5,674) VINCI Highways (2,348) (882) (2,271) (678) Other concessions* (1,073) (5) (1,347) 50
Slide 62: Debt maturity schedule
3,500 3,000 2,500 € million 2,000 1,500 1,000 500 0 Groupe ASF Cofiroute Arcour Arcos VINCI Airports Other concessions Holdings & misc. * Concessions: 6.9 years - Holdings and other divisions: 5.3 years 62
Slide 63: Debt maturities and average rates
Nominal amount in € million 1,637 2,794 2,939 2,816 2,733 2,300 Average rate* 5.05% 3.59% 5.59% 3.76% 5.06% 5.43% * After hedging 63
Slide 64: Gross financial debt fixed and floating rates
Gross financial debt breakdown between fixed and floating rates (in € billion) 28.4 28.6 29.3 27.9 27.8 12.5 6.8 11.8 12.3 14.8 9.0 9.2 10.0 13.2 16.4 44% 42% 43% 50% 8.5 59% 5.9 7.9 10.2 15.9 16.2 16.3 14.5 12.0 11.3 56% 58% 57% 50% 41% Floating rate & inflation linked debt Group Ebitda Fixed rate
Slide 65: Other information
information | Other
Slide 66: Order intake by division and noteworthy contracts
Order intake breakdown by division and Noteworthy contracts awarded to VINCI granularity in 2023 VINCI Energies FY FY Change -Inelfe: two onshore converter stations for a new electrical interconnection between France In € billion 2023 2022 23/22 and Spain -First section of Line 15 West (France): ele
Slide 67: Strategic positioning: long and short cycle businesses
Long cycles/significant equity Short cycles/low equity investments/capital employed intensity investments ⁃Extension of average maturity of the concessions portfolio ⁃Prioritise margin over revenue growth ⁃Strengthening of the Group’s footprint in mobility ⁃Rigorous risk monitoring/Selective approac
Slide 68: VINCI at a glance by division
Group revenue countries where Est. number of Est. number of Est. number market cap. at (incl. holdings) VINCI operates business units employees of contracts 31 December 2023 Revenue Est. number of employees VINCI Autoroutes VINCI Concessions* VINCI Energies Cobra IS VINCI Construction VINCI Immobili
Slide 69: Revenue by geography 2013 vs 2023
5% 14% 4% 5% 4% 6% 3% 43% 4% 20% 62% 30% 2013 Revenue CAGR 2013/2023 2023 Revenue €25.1 bn +1.7% €29.6 bn €15.2 bn +9.9% €39.2 bn France Central and Eastern Europe Asia/Middle East/Oceania Western Europe (ex. France) Africa Americas 69
Slide 70: ROI and ROE definitions
* is net operating income after tax excluding non-recurring items (NOPAT), divided by the average capital employed between the opening and closing balance sheet positions for the financial year in question is net income for the current period attributable to owners of the parent, divided by equity e
Slide 71: Shareholding structure
Rest of the World Rest of Europe 14.7% Shareholding structure* 4.8% Individual investors 10.7% ▪ More than 1,000 United Kingdom 16.6% institutional investors Institutional Employees ▪ ~166,000 Group employees investors 10.2% 73.2% and former employees are 2.8% Qatar Holding LLC shareholders, includi
Slide 72: Sustainable economic project commitment
A sustainable economic project is impossible without an ambitious social, workforce-related and environmental commitment. 72
Slide 73: Business line profiles
ine profiles iness I Bus
Slide 74: VINCI Autoroutes revenue and Ebitda margin
Revenue (€bn) Ebitda margin 4% 11% France Portugal 11% €10.9 bn UK 10% 64% Americas RoW 74
Slide 75: Division share of 2023 revenue
6% 75 = % of the division’s 2023 revenue
Slide 76: VINCI Airports and Autoroutes concession lengths
2,000 1,800 1,600 1,400 1,200 VINCI Airports 1,000 (incl. London Gatwick) 800 600 VINCI Autoroutes 400 200 0 As of 31 December 2023 and including fully consolidated assets only 76
Slide 77: Airport passenger traffic by country
Portugal (ANA) 66,332 +19.1% +12.2% o/w Lisbon 33,649 +19.1% +7.9% United Kingdom 46,855 +24.4% -11.3% o/w London Gatwick 40,899 +24.5% -12.2% Mexico 26,837 +15.7% +15.8% o/w Monterrey 13,339 +21.9% +19.2% France 17,499 +14.3% -14.5% o/w ADL (Lyon) 10,000 +16.7% -14.9% Cambodia* 4,031 x2.0 -47.7% US
Slide 78: VINCI Autoroutes
VINCI Autoroutes 2023 FULL YEAR RESULTS VINCI
Slide 79: VINCI Autoroutes network and concessions
4,443 km approx. 50% >35% under concession of conceded French of total motorway toll roads network in France (1) ASF Cofiroute End of concession Apr. 2036 Feb. 2032 Jun. 2034 Dec. 2086 Dec. 2070 Jan. 2070 ESCOTA A19-Arcour A355: Arcos: Western Network size 2,737 km 471 km 1,100 km 11 km 101 km 24 km
Slide 80: Contractual framework of toll increases
Contractual framework of toll increases (LVs) Cofiroute ASF Escota Intercity Network 2024* 2.71% 2.71% 2.71% After 2024 70% x i 70% x i 70% x i i = Consumer price index excl. tobacco products at end October Y-1 * Applied on 1 February 2024 The amendment to the ASF concession contract, regarding the
Slide 81: VINCI Airports
VINCI Airports 2023 FULL YEAR RESULTS VINE! “”
Slide 82: VINCI Airports global platform
2 airports in the UK 12 airports in France platforms in 5 airports in the US 10 airports 1 airport in Portugal in Serbia 3 airports in Japan 13 airports in Mexico 6airports in Dominican Republic airport in 7 airports in Cabo Verde 2 airports in Cambodia 1 Costa Rica countries 8 airports in Brazil 1
Slide 83: VINCI Airports passenger numbers 2014-2023
267 255 210 195 157 132 77 86 69 47 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1 Data at 100% irrespective of percentage held Data include airport passenger numbers on a full-year basis 83
Slide 84: VINCI Airports revenue and Ebitda
3.9 2.6 2.7 1.0 1.2 55.7% 59.0% 63.2% 32.4% 14.7% Revenue (€bn) Ebitda margin 3% 2% 2% 8% 6% 5% UK (100% Gatwick + Belfast) 5% 7% 29% Portugal (ANA) 31% 9% Revenue 8%* Ebitda Mexico (OMA) * Net debt 46% €3,947 m €2,495 m 37% €(8,781) m France 16% 19% Dom. Rep. (Aerodom) 28% 29% 5%5% Brazil Rest of w
Slide 85: Airport traffic by purpose and destination
1% Tourism/Leisure 56% VFR (Visiting Friends & Relatives) 21% Business Other 22% 9% Domestic 39% Intra EU 37% International Short & Mid haul (excl. Intra EU) International Long haul (>4,000 km) 16% * Estimates based on internal surveys realised in the airports 85
Slide 86: VINCI Airports portfolio: UK, Portugal, Japan, Chile, Mexico
London Gatwick Freehold 46.6 40.9 - 50% Yes Full consolidation UK Belfast International Freehold 6.3 6.0 2993 100% Yes Full consolidation ANA Portugal 59.1 66.3 (10 airports in Lisbon, Porto, Faro, Madeira, Azores islands) Concession 2063 100% Yes Full consolidation Of which Lisbon airport 31.2 33.6
Slide 87: VINCI Airports portfolio: USA, Brazil, Serbia and others
Orlando-Sanford Concession 3.3 2.9 2024 100% Yes Full consolidation USA 4 airports: Hollywood Burbank Airport in California, Management Atlantic City in New Jersey, Macon Downtown Airport and 7.1 7.0 n.a 100% No Full consolidation Contracts Middle Georgia Airport in Georgia Salvador Concession 7.7 7
Slide 88: VINCI Highways, Railways and Stadium
VINCI Highways VINCI Railways VINCI Stadium 2023 FULL YEAR RESULTS VINCI “”
Slide 89: VINCI Highways equity invested and revenue breakdown
661 479 319 309 235 Equity invested Net financial debt 47.8% 48.5% 56.7% 41.8% 42.9% €2.9 bn € 3.4 bn At 31 Dec. 2023 At 31 Dec. 2023 VINCI Highways 2023 revenue and Ebitda breakdowns 19% 16% Lima Expresa (Peru) 37% Revenue 12% Ebitda 48% Rion-Antirion bridge (Greece) €352 m €172 m ETC Service provi
Slide 90: VINCI Highways portfolio: Europe motorways
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 border 47 km 2031 50% no Equity method Motorway A5 Malsch–Offenburg 60 km 2039 54% yes Equity method Motorway B247 Mühlhausen-Bad Langensalza
Slide 91: VINCI Highways portfolio: tunnels, bridges, ETC
Tunnel Prado Carénage 2.5 km road tunnel, Marseille 2033 34.2% yes Equity method France Tunnel Prado Sud 1.5 km road tunnel, Marseille 2055 58.5% yes Equity method Prince Edward Island - Canada Bridge Confederation bridge 2032 85% yes Full consolidation mainland 2.9 km mainland–Peloponnese Greece Br
Slide 92: VINCI Stadium portfolio
Stadium Stade de France 80,000 seats, Saint-Denis 2025 67% yes Full consolidation Stadium Marie-Marvingt 25,000 seats, Le Mans 2044 100% yes Full consolidation France Stadium Allianz Riviera 36,000 seats, Nice 2041 50% yes Equity method Stadium Matmut Atlantique 42,000 seats, Bordeaux 2045 50% yes E
Slide 93: VINCI Railways and other concessions
Rail GSM-Rail Ground-train communication system on 16,000 km of track 2025 70% no Equity method France Rail SEA High-Speed-Rail 302 km of high-speed rail line between Tours and Bordeaux 2061 33.4% yes Equity method Building Park Azur Car rental centre, Nice Airport 2040 100% no Full consolidation En
Slide 94: VINCI Energies
VINCI Energies 2023 FULL YEAR RESULTS VINCI “”
Slide 95: VINCI Energies revenue and Ebit margin
Making energy transition and digital transformation a reality 2023 revenue by geographical area Revenue and Ebit margin over the past 5 years 3%4% France 19.3 6% 16.7 Germany 15.1 13.7 13.7 Scandinavia 42% 6.8% 7.0% 24% €19.3 bn Rest of Europe 6.5% 6.0% Americas 5.7% Africa 5% RoW 16% France 9% 32%
Slide 96: VINCI Energies activities
Making energy transition and digital transformation a reality Transport infrastructure: technical Process control and automation Electrical systems Telecommunication and enterprise networks equipment and management systems Electrical and instrumentation Heating, ventilation, air conditioning Data st
Slide 97: Cobra IS 2023 full year results
2023 FULL YEAR RESULTS VINE!
Slide 98: Cobra IS revenue and renewable portfolio
A leading company in applied industrial engineering and specialised services and a global player in the energy sector 2023 revenue by geographical area 9% Spain Revenue and Ebit margin Portfolio of renewable energy 2%3% 3% Latin America over the past 2 years assets at the end of 2023 Germany 6% 44%
Slide 99: Cobra IS activities
A leading company in applied industrial engineering and specialised services and a global player in the energy sector Design, engineering, supply and construction of Construction, installation and maintenance of high- Integration and supply of traffic control/tunnelling Design, engineering, supply a
Slide 100: Cobra IS projects delivered and awarded
* ** ** * Delivered in 2023 100 ** Projects awarded whose contracts were not signed as of 31 December 2023 due to precedent conditions not met yet
Slide 101: VINCI Construction
VINCI Construction 2023 FULL YEAR RESULTS VINCI “”
Slide 102: VINCI Construction revenue and Ebit margin
France’s leading construction company and a major global player 2023 revenue by geographical area Revenue and Ebit margin over the past 5 years 4% 2% France 31.5 7% 29.3 UK 25.1 * 26.3 Central & Eastern 23.1 * 16% Europe 3.8% 4.0% 43% Rest of Europe 3.7% 3.3% €31.5 bn Americas 7% Oceania 2.0% 7% Afr
Slide 103: VINCI Construction activities
France’s leading construction company and a major global player Roadworks Non residential / Residential Civil engineering Railworks Maintenance and management of roads and Refurbishment / New build Geotechnical engineering Earthworks motorways Structural engineering Water infrastructure Asphalt indu
Slide 104: Grand Paris Express Line 15 West
Line 15 Around design-build of a section of €36 bn Line 15 West (between Pont de Construction budget* Sèvres station and La Défense) 200 km Automatic metro lines 68 New stations Expected completion in 2030 Works by VINCI entities * source: Société du Grand Paris 104
Slide 105: VINCI Immobilier
VINCI Immobilier 2023 FULL YEAR RESULTS VINCI “”
Slide 106: VINCI Immobilier revenue and reservations
Revenue over the past 5 years 1.6 2023 reservations by destination 1.5 1.3 1.2 1.2 Buy to let private investors 17% Social, 46% 4,214 Institutional Private 22% owners Revenue – non residential (€bn) 15% Revenue – residential (€bn) Managed residences * Including VINCI Immobilier’s share in joint deve
Slide 107: Division share of 2023 revenue
XX % = % of the division’s 2023 revenue 107
Slide 108: Notes
Notes 2023 FULL YEAR RESULTS VINE! “”
Slide 109: Notes
Notes 2023 FULL YEAR RESULTS VINE! “”
Slide 110: Agenda and investor relations contacts
Agenda 9 VINCI Shareholders meeting gregoire.thibault@vinci.com boris.valet@vinci.com +33 1 57 98 63 84 +33 1 57 98 62 84 23 Ex-dividend date celine.louvet@vinci.com marie.richard@vinci.com +33 1 57 98 66 54 25 Dividend payment (all cash) 110