Vinci Sa · EURONEXT:DG
Vinci Sa — Vinci Sa Act — H1 2020 Earnings Presentation
94 slides from Vinci Sa's earnings presentation, Jul 31, 2020
Slide 1: 2020 first half results
2020 first half results 31 July 2020 HS2 (United Kingdom)
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: VINCI Autoroutes: Vendenheim bridge on A355
VINCI Autoroutes: Vendenheim bridge on A355 (Strasbourg bypass, France) 3
Slide 4: VINCI Autoroutes: Low-carbon motorway project
VINCI Autoroutes: leading a « Low-carbon motorway » project in the south of France 4
Slide 5: VINCI Airports: Sihanoukville airport enhancement
VINCI Airports: enhancement project of Sihanoukville airport (Cambodia) 5
Slide 6: VINCI Highways: 91 Express Lanes renewal
VINCI Highways: renewal of the service contract for the 91 Express Lanes in California (US) 6
Slide 7: VINCI Energies: AC/DC converter station
VINCI Energies: AC/DC converter station (Normandy) of the 230-km interconnector between southern England and northern France
Slide 8: Eurovia: Triangle Expressway in North Carolina
Eurovia: N.C. 540 Triangle Expressway in North Carolina (US)
Slide 9: VINCI Construction: metro line 4 in Copenhagen
VINCI Construction: metro line 4 in Copenhagen (Denmark) 9
Slide 10: VINCI Immobilier: l'archipel headquarters
VINCI Immobilier: « l’archipel », the future VINCI’s headquarters 10
Slide 11: H1 2020 highlights
H1 2020 highlights Xavier Huillard, Chairman and CEO
Slide 12: H1 2020 highlights: performance impacted by Covid-19
H1 2020 highlights: performance strongly impacted by the Covid-19 Decline in traffic levels (-33%); improvement of the trend from mid-May Passenger numbers down 61% (to a near standstill in Q2); limited resumption in June Contracting business levels: downturn in March, improvement from the 2nd half
Slide 13: H1 2020 Group key figures
H1 2020 Group key figures Revenue Ebit Ebitda* Free cash flow Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 Data in € million (unless otherwise specified) 18,493 267 1,803 (182) (15%) (2,022) (1,822) (497) Net Income Diluted net income/share (€) Net financial debt Δ H1 2020
Slide 14: International: 49% of H1 2020 revenue
International: 49% of H1 2020 revenue (44% in H1 2019) France €9.5 bn -23% 51% Central & North America Eastern Europe -4% €1.4 bn +20% €0.9 bn 5% 8% Western Europe (excl. France) -5% €4.7 bn Asia/Middle East/ 25% Oceania -14% Central & €1.0 bn South America -32% Africa 6% €0.4 bn €0.6 bn -9% 2% 3% +
Slide 15: Autoroutes in H1 2020
VINCI Autoroutes in H1 2020 Key takeaways Revenue Ebitda Ebitda/Revenue Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 § Traffic trends over the H1 (-8.6% in Q1, -51.8% in Q2) ü A good start to the year: +9% in the first two months of the year ü Sharp fall after France went into lockdown on 17 March: -39% in €
Slide 16: Airports in H1 2020
VINCI Airports in H1 2020 Key takeaways Revenue Ebitda Ebitda/Revenue Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 § Passenger numbers trends in the H1 (-21% in Q1, -96% in Q2) ü Q1 20: Asian airports affected by the health crisis in early 2020, then virtual shutdown of business across the entire network fro
Slide 17: Contracting order intake
Contracting order intake Order intake up 10% in H1 2020 vs H1 2019, driven by several major contracts in Europe Breakdown by business lines (in €bn) Δ H1 2020/ H1 2019 +10% 22.8 20.7 7.3 +1% VINCI Energies 7.2 4.8 -13% Eurovia 5.5 10.7* 7.9 +35%* VINCI Construction H1 2019 H1 2020 * Including works
Slide 18: Energies in H1 2020
VINCI Energies in H1 2020 Key takeaways Revenue Ebit Ebit/Revenue Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 § Resilience of VINCI Energies: good performance given the circumstances of this major crisis €6.1 bn €186 m 3.0% § International: revenue up 2% -4% actual -€192 m vs 5.9% in H1 19 ü Overall, situat
Slide 19: Eurovia in H1 2020
Eurovia in H1 2020 Key takeaways Revenue Ebit Ebit/Revenue Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 § With its experience of previous recessions, ability of Eurovia to adjust its operational arrangements quickly to the situation €3.8 bn -€120 m* -3.1%* § France: revenue down 24% -12% -€110 m vs -0.2% in
Slide 20: Construction in H1 2020
VINCI Construction in H1 2020 Key takeaways § International: revenue down 6% Revenue Ebit Ebit/Revenue ü Situations varied widely between divisions and Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 geographical zones, and changed depending on decisions taken by local health authorities § France: revenue down
Slide 21: Immobilier in H1 2020
VINCI Immobilier in H1 2020 Key takeaways § Consolidated revenue Housing units Revenue ROI* ü Rise until mid-March, due to strong production in reservations** commercial property (several major developments such Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 Δ H1 2020/H1 2019 as the To-Lyon project in the Lyon
Slide 22: H1 2020 financial data
H1 2020 financial data Christian Labeyrie, Executive Vice-President and CFO
Slide 23: H1 2020 consolidated revenue change by division
H1 2020 consolidated revenue change by division Concessions Real Estate Contracting €2,592 m -32.4% €436 m -7.2% €15,756 m -11.2% €21,729 m Organic Scope FX Organic Organic Scope FX €18,493 m -36.9% +4.4% +0.1% -7.2% -12.6% +1.7% -0.4% Total VINCI Group -14.9% -17.0% +2.4% -0.3% H1 2019 Organic Scop
Slide 24: H1 2020 consolidated revenue change by geographical area
H1 2020 consolidated revenue change by geographical area France International €9,484 m -22.7% €9,009 m -4.8% €21,729 m Organic Scope Organic Scope FX €18,493 m -23.1% +0.5 % -9.4% +5.2% -0.6% Total VINCI Group -14.9% -17.0% +2.4% -0.3% H1 2019 Organic Scope FX H1 2020 Revenue change 24
Slide 25: Operating income from ordinary activities (Ebit)
Operating income from ordinary activities (Ebit) VINCI Ebit: €267 million (-€2,022 m vs H1 2019) Ebit margin: 1.4% (-910 bp vs H1 2019) VINCI Autoroutes VINCI Airports VINCI Immobilier VINCI Energies Eurovia VINCI Construction -706 -559 -32 -192 -110 -385 1,407 432 378 53.9% 701 40.4% 186 37.0% 5.9%
Slide 26: Income statement
Income statement (in € million) H1 2020 H1 2019 Δ 2020/2019 Operating income from ordinary activities (Ebit) 267 2,289 (2,022) % of revenue 1.4% 10.5% -910 bp - share-based payment expense (IFRS 2) (90) (100) - profit/loss of equity-accounted cos. & miscellaneous (59) 153 Recurring operating income
Slide 27: Change in net financial debt during H1 2020
Change in net financial debt during H1 2020 (in € billions) (22.1) (21.7) Dividends and Acquisitions/ Disposals miscellaneous* Capex LGW (0.1) (0.1) Interest & (1.4) Ebitda (7.7) Δ Working taxes paid 1.8 capital (1.1) requirement 0.5 Free cash flow: (€182 m) vs €316m in H1 2019 Concessions Contracti
Slide 28: Consolidated balance sheet
Consolidated balance sheet (in € million) 30 Jun. 2020 31 Dec. 2019* 30 Jun. 2019* Non-current assets – concessions 41,355 42,968 42,299 Non-current assets – contracting and other 13,973 14,055 13,314 WCR, provisions and other current assets & liabilities (6,403) (6,965) (5,008) Capital employed 48,
Slide 29: Financial policy
Financial policy Breakdown of debt by currency Debt refinancing in excellent market conditions In H1 2020, €1.6 bn debt reimbursed, of which 27% a €750m bond issued by VINCI SA in 2012, carrying a coupon of 3.4% 57% a €650m bond issued by ASF in 2010, carrying a coupon of 4.1% € 30 June £ 2020 In Ma
Slide 30: Substantial level of liquidity
Substantial level of liquidity Highlights Group’s liquidity of €18.3 bn as of 30 June 2020, of which: ü €5.8 bn net cash managed, reflecting the resilience of the operating cash flow during H1 2020 ü €1.2 bn of commercial paper (Neu CP) issued at optimised conditions, following ECB intervention ü €1
Slide 31: Outlook and strategy
Outlook and strategy Xavier Huillard, Chairman and CEO
Slide 32: VINCI Autoroutes: quick normalisation of traffic
VINCI Autoroutes: quick normalisation of traffic, now close to 2019 level VINCI Autoroutes weekly change in traffic YTD 2020 20,0% 0,0% -20,0% -40,0% -60,0% -80,0% -100,0% W10 W20 W28 W29 W30 W4 W8 W11 W12 W13 W14 W15 W16 W17 W18 W19 W21 W22 W23 W24 W25 W26 W27 LV HV Tota l From 1 July to 26 July 20
Slide 33: VINCI Airports: slow recovery
VINCI Airports: slow recovery, with differences between the airports The most geographically diversified airports operator Passenger traffic1 (millions of pax.) change 255 45 airports in 12 countries 195 179 157 132 69 43 47 10 VINCI Airports weekly passenger numbers change YTD 2020 2012 2013 2014 2
Slide 34: Concessions capex forecasts
Concessions capex forecasts* In € million 2 000 1 800 Highlights 1 600 • Reduction of around €400 m of Capex in 2020 vs the 1 400 previous forecasts (Dec. 31, 2019) 1 200 • VINCI Airports capex include LGW capex 1 000 800 600 New estimates (as of June 30, 2020) 400 Pre-Covid estimates 200 (as of Dec
Slide 35: Contracting order book at an all-time high level
Contracting order book at an all-time high level Order book up 18% year on year; International accounts for 58% Breakdown by business lines (in € bn) Breakdown by geographical area (in € bn) +18% Δ Jun.20/ +18% Δ Jun.20/ 42.9 Jun.19 42.9 Jun.19 36.2 36.5 36.2 36.5 10.2 +9% +13% 18.0 9.4 -3% 9.1 +15%
Slide 36: Outlook
Outlook Barring any further adverse development of the pandemic and excluding exceptional events, VINCI’s forecasts are as follows: Concessions Contracting VINCI Autoroutes a 15-20% contraction in traffic levels 2020 Contracting a 5-10% fall in revenue 2020 VINCI Airports a 150-200 bp decline in Ebi
Slide 37: Dividend
Dividend Dividend per share since 2009 (in €) 2.67 2.45 2.22 2.10 2.04 1.84 1.67 1.77 1.77 1.77 1.62 Total dividend – interim dividend Interim dividend Special dividend linked to the disposal of VINCI Park 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 VINCI’s Board of Directors, given the c
Slide 38: Looking beyond 2020
Looking beyond 2020 After a very difficult 2020 Eurovia VINCI Autoroutes The 100% recycled road technology VINCI Energies High-speed charging stations Hypervisor platform at La Défense The growth post-crisis will be green A great opportunity VINCI Airports VINCI Construction Salvador Bahia named Bra
Slide 39: 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 Preserve resources with the Act for the climate transition Respect natural environments circular economy 2.3 m teq CO2 -28.3% in 2019 reduct
Slide 40: 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 41: 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. 41
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Slide 43: Appendices
VINCI “ Appendices
Slide 44: Financial data
Financial data as of June 30, 2020
Slide 45: Consolidated revenue
Consolidated revenue Δ 2020/2019 in € million H1 2020 H1 2019 Actual Like-for-like FY 2019 Concessions 2,592 3,836 -32.4% -36.9% 8,544 VINCI Autoroutes 1,892 2,608 -27.4% -27.4% 5,593 VINCI Airports 592 1,070 -44.7% -56.0% 2,631 Other Concessions 108 158 -31.7% -30.9% 319 Contracting 15,756 17,737 -
Slide 46: Consolidated revenue - France
Consolidated revenue - France Δ 2020/2019 in € million H1 2020 H1 2019 Actual Like-for-like FY 2019 Concessions 2,030 2,855 -28.9% -28.9% 6,079 VINCI Autoroutes 1,892 2,608 -27.4% -27.4% 5,593 VINCI Airports 100 185 -46.1% -46.1% 371 Other Concessions 38 62 -39.2% -39.2% 115 Contracting 7,295 9,235
Slide 47: Consolidated revenue - International
Consolidated revenue - International Δ 2020/2019 in € million H1 2020 H1 2019 Actual Like-for-like FY 2019 Concessions 562 980 -42.6% -55.1% 2,464 VINCI Airports 492 884 -44.4% -57.6% 2,261 Other Concessions 70 96 -26.8% -25.4% 204 Contracting 8,461 8,502 -0.5% -2.8% 19,329 VINCI Energies 3,496 3,42
Slide 48: Ebit by business line
Ebit - operating income from ordinary activities by business line % of % of % of in € million H1 2020 H1 2019 Δ 2020/2019 FY 2019 revenue* revenue* revenue* Concessions 545 21.0% 1,844 48.1% (1,299) 3,989 46.7% Contracting (255) (1.6%) 432 2.4% (686) 1,654 4.3% VINCI Energies 186 3.0% 378 5.9% (192)
Slide 49: Recurring operating income by business line
Recurring operating income (ROI) by business line in € million H1 2020 % of revenue* H1 2019 % of revenue* Δ 2020/2019 FY 2019 % of revenue* Concessions 474 18.3% 1,954 50.9% (1,480) 4,146 48.5% VINCI Autoroutes 698 36.9% 1,402 53.8% (704) 2,948 52.7% VINCI Airports (201) (34.0%) 518 48.4% (719) 1,1
Slide 50: Ebitda
Ebitda in € million H1 2020 % of revenue* H1 2019 % of revenue* Δ 2020/2019 FY 2019 % of revenue* Concessions 1,502 57.9% 2,692 70.2% (1,190) 5,796 67.8% o/w VINCI Autoroutes 1,324 69.9% 2,004 76.8% (680) 4,178 74.7% o/w VINCI Airports 140 23.7% 608 56.8% (467) 1,466 55.7% Contracting 304 1.9% 877 4
Slide 51: Cash flow statement (1/2)
Cash flow statement (1/2) in € million H1 2020 H1 2019 FY 2019 Ebitda 1,803 3,625 8,497 Change in WCR* and current provisions 471 (1,354) 428 Income taxes paid (774) (529) (1,547) Net interest paid (351) (250) (458) Dividends received from companies accounted for under the 31 110 170 equity method N
Slide 52: Cash flow statement (2/2)
Cash flow statement (2/2) in € million H1 2020 H1 2019 FY 2019 Free cash flow (after CAPEX) (182) 316 4,201 Net financial investments and other cash flows (144) (8,041) (8,335) Cash flow before movements in share capital (326) (7,726) (4,134) Share capital increases and other operations 77 590 933 D
Slide 53: FCF generation in H1 2020
FCF generation in H1 2020 FY VINCI free cash flow generation since 2009 4 500 4 000 3 500 3 000 in € million 2 500 2 000 H1 1 500 4 500 500 4 000 1 000 300 3 500 500 3 000 100 0 2 500 -100 2 000 1 500 -300 1 000 -500 500 0 -700 19 20 7 FY 3 14 FY 18 12 13 15 18 19 FY 5 12 17 16 FY 6 10 4 FY 9 09 10
Slide 54: Operating CAPEX
Operating CAPEX in € million H1 2020 H1 2019 Δ 2020/2019 FY 2019 Concessions 116 79 +37 242 VINCI Autoroutes 8 9 -1 24 VINCI Airports* 99 64 +35 205 Other Concessions 9 6 +3 12 Contracting 369 424 -55 969 VINCI Energies 70 74 -4 160 Eurovia 137 136 +1 342 VINCI Construction 162 214 -52 466 VINCI Imm
Slide 55: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs in € million H1 2020 H1 2019 Δ 2020/2019 FY 2019 Concessions 561 496 +66 1,026 VINCI Autoroutes 377 375 +2 775 Of which: ASF 192 144 +48 266 Escota 52 41 +11 92 Cofiroute 88 88 0 181 Arcos 43 99 -56 227 VINCI Airports 189 119 +70 248 Other concessions -4 3 -6 3 C
Slide 56: Net financial debt by business line
Net financial debt by business line Of which Of which Of which Δ 30 jun. 2020/ 30 Jun. 2020 external 31 Dec. 2019 external 30 Jun. 2019 external in € million net debt net debt net debt 30 Jun. 2019 Concessions (33,777) (20,143) (33,952) (19,901) (34,131) (19,419) +354 VINCI Autoroutes (19,668) (14,5
Slide 57: Maturity of gross financial debt
Maturity of gross financial debt Average maturity of gross financial debt (€28.7 bn) as of 30 June 2020: 8.0 years* 3 000 2 500 2 000 € Million 1 500 1 000 500 0 H2 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 >2035 ASF Cofiroute Arcour VINCI Airports Other concessions
Slide 58: Average cost of future debt repayment
Average cost of future debt repayment H2 2020 2021 2022 2023 2024 2025 Nominal amount in € million 406 1,945 2,575 1,699 1,796 1,783 Average rate* 4.62% 2.47% 2.64% 1.77% 3.01% 0.72% * After hedging ASF Cofiroute VINCI Airports Other concessions Holdings and misc. 58
Slide 59: Natural hedging against interest rates rise
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) Gross financial debt (net of derivatives) breakdown between fixed and floating rates 28.4 (in €
Slide 60: Other information
VINCI “ Other information
Slide 61: VINCI Autoroutes traffic
VINCI Autoroutes H1 2020 VINCI Autoroutes traffic VINCI Autoroutes average traffic growth over 10 years Total 120 CAGR Q2 2020/ 115 Q2 2010 -32.8% -36.6% -12.2% 110 HV +1.0% 105 Total -0.3% LV -0.5% 100 Of which: 95 ASF -32.8% -37.0% -11.2% 90 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2
Slide 62: VINCI Airports H1 2020 passenger traffic
VINCI Airports H1 2020 passenger traffic Q2 2020 H1 2020 12 rolling months Change over Change Change June 2019 Passenger traffic (million pax) 2020 2020 12-month 2020/2019 2020/2019 to June 2020 rolling period Portugal (ANA) 409 -97.5% 9,734 -64.6% 41,392 -27.6% o/w Lisbonne 243 -97.1% 5,651 -61.3%
Slide 63: FY key figures
VINCI “ FY key figures
Slide 64: 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 31 December 2019 Concessions Real estate Contracting Revenue: €8.5 bn Revenue: €1.3 bn Revenue: €38.
Slide 65: A combination of two complementary business profiles
A combination of two complementary business profiles REVENUE EMPLOYEES EBITDA** €48.1 bn* 222,397 €8.5 bn 1% 18% 1% 3% 17% 1% 1% 8% 2% 10% 29% 15% 82% 68% 81% 90% 91% * o/w 45% outside France **Cash flow from operations before tax and financing costs (including a €575 million impact from IFRS 16) FR
Slide 66: Growing internationalisation
Growing internationalisation Breakdown of 2008 revenue by geographical area Breakdown of 2019 revenue by geographical area 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%
Slide 67: 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 68: Business line profiles
VINCI “ Business line profiles
Slide 69: Concessions profile
Concessions profile Change in revenue and Ebitda margin over 5 years 2019 revenue by geographical area Revenue CAGR (since 2014): +8.0% 9,0 8.5 75,0% 4% 5% 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 2018 2019 -1
Slide 70: VINCI Autoroutes
VINCI “ VINCI Autoroutes
Slide 71: VINCI Autoroutes key figures
VINCI Autoroutes key figures Change in revenue and Ebitda margin over 5 years Revenue CAGR (since 2014): +3.3% 6,0 76,0% 5.6 5.4 5.1 5.3 4.9 74.7% 75,0% 73.0% 72.2% 72.6% 74,0% 72.7% 3,5 73,0% 72,0% 71,0% 1,0 70,0% 2015 2016 2017 2018 2019 Revenue (€bn) Ebitda margin 71
Slide 72: Autoroutes - France's leading toll road concession operator
VINCI Autoroutes - France’s leading toll road concession operator A strategically located 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. 207
Slide 73: 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 74: VINCI Airports
VINCI “ VINCI Airports
Slide 75: Airports in 2019
VINCI Airports in 2019 Change in revenue and Ebitda margin over 5 years Revenue CAGR (since 2014): +30% 2.6 VINCI Airports: 2019 Revenue and Ebitda by country 67,5% 23% Portugal (ANA) 2 100 23% 1.6 34% UK 1.4 40% 1 400 1.1 55.7% 14% Revenue Ebitda France 57,5% 0.8 58.6% €2,631m 9% €1,466 m Rest of w
Slide 76: 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 59.1 (10 airports
Slide 77: 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 Jer
Slide 78: VINCI Highways, VINCI Railways and VINCI Stadium
VINCI Highways, VINCI Railways and VINCI Stadium
Slide 79: Other concessions
Other concessions Revenue over the past 5 years Revenue CAGR (since 2014): +25% Lamsac’s acquisition 319 (Peru) 298 258 112 131 2015 2016 2017 2018 2019 Revenue (€m) 79
Slide 80: 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 81: 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 82: 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 83: 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 2020* 35% yes Equity method Rail GSM-Rail Ground-train communication system on 14,000 km of track 2025 70% no Equi
Slide 84: 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 85: Contracting
VINCI “ Contracting
Slide 86: 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 Germany 40,0 35.8 4,5% 4% 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 87: 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 88: Eurovia: 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% 8.9 10.2 5,0% UK 9,0 8.1 2% 7.9 4.2% 4,5% Central & Eastern Europe 7.6 3.7%
Slide 89: 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 90: The Grand Paris Express project
The Grand Paris Express project More than €9 bn attributed as of June 2020, o/w around €2.5 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 Automated New stations Construction metro lines budget* Line 15 Line 14 Exp
Slide 91: VINCI Immobilier
VINCI “ VINCI Immobilier
Slide 92: 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 0.8 30% Buy to let private 0.7 31% investors 6,215 Presence in 2015 2016 2017 2018 2019 23 Managed 11% cities Residences 2
Slide 93: Notes
Notes VINCI “ i eeeeeeeeererrrrrrr—“(tisSsCSCSCSCSCSCSCSCSCSC( EUS
Slide 94: IR team and agenda
IR team and agenda TEAM AGENDA Grégoire THIBAULT 13 October 2020 Head of investor relations VINCI Airports Q3 2020 passenger gregoire.thibault@vinci.com numbers publication Tel: +33 1 47 16 45 07 Walid LOUNIS Aurélie GODIN October 2020 20 Investor relations officer Investor relations officer aurélie