Vinci Sa · EURONEXT:DG
Vinci Sa — Vinci Sa Act — FY 2021 Earnings Presentation
101 slides from Vinci Sa's earnings presentation, Feb 4, 2022
Slide 1: 2021 full year results
2021 full year results 04 February 2022 L’archipel, new VINCI group’s headquarters in Nanterre, France
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: commissioning of the A355 Western Strasbourg bypass
VINCI Autoroutes: commissioning of the A355 Western Strasbourg bypass (24 km) in December 2021 3
Slide 4: VINCI Airports: 30-year concession of airports in Northern Brazil
VINCI Airports: 30-year concession of 7 airports in the North Region of Brazil (4.7 mpax in 2019), including Manaus 4 Manaus Airport
Slide 5: VINCI Highways: 30-year PPP contract for the B247 road in Germany
VINCI Highways: 30-year PPP contract for the new B247 federal road in Germany 5
Slide 6: VINCI Energies: construction of a 15 MW solar PV plant
VINCI Energies: construction of a 15 MW solar PV plant in Peyrolles-en-Provence (France)
Slide 7: VINCI Construction: Lyon-Turin rail link works package
VINCI Construction: contract for works package 2 in relation to the Lyon-Turin rail link 7
Slide 8: VINCI Immobilier: Universeine project in Saint-Denis
VINCI Immobilier: Universeine project in Saint-Denis (France), an illustration of VINCI Immobiliers’ zero net artificialisation target for 2030 with the remediation of 6.4 ha of brownfield land 8
Slide 9: FY 2021 highlights
FY 2021 highlights Xavier Huillard, Chairman and CEO
Slide 10: FY 2021 highlights
FY 2021 highlights Strong increase in revenue, sharp upturn in earnings VINCI Energies and VINCI Construction: revenue and earnings in excess of 2019 levels VINCI Autoroutes: positive traffic momentum, now above its 2019 levels VINCI Airports: gradual recovery in passenger numbers since the summer;
Slide 11: FY 2021 Group key figures
FY 2021 Group key figures Revenue Ebit Ebitda* Free cash flow Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 Data in € million (unless otherwise specified) 49,396 4,723 7,884 5,282 +14% +1,864 +1,965 +1,
Slide 12: International: 47% of FY 2021 revenue
International: 47% of FY 2021 revenue France €26.3 bn +15% stable 53% Central & North America Eastern Europe +4% +4% +16% +24% €2.3 bn €3.9 bn 5% 8% Western Europe (excl. France) +15% +7% €11.6 bn Asia/Middle East/ 23% Oceania +6% -4% €2.5 bn Central & Africa 5% South America +27% -5% €1.6 bn +13% -
Slide 13: VINCI Autoroutes in FY 2021
VINCI Autoroutes in FY 2021 Key takeaways Revenue Ebitda Ebitda/Revenue Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 § Dynamic traffic in Q4 2021, up 3.4% vs Q4 2019 (LV: +3.1%; HV: +4.9%) § FY traffic levels close to 2019 (-4.1%) : € 5,550 m € 4.1 bn 74.2% § LV (-5.3%): s
Slide 14: VINCI Airports in FY 2021
VINCI Airports in FY 2021 Revenue Ebitda Ebitda/Revenue Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 Key takeaways € 1,188 m €385 m 32.4% § Gradual recovery since summer 2021: Q4 21 pax down 46% +20% +€239 m vs 14.7% in FY 20 vs Q4 19 (after -81% in H1 and -59% in Q3) -55%
Slide 15: Order intake in FY 2021
Order intake in FY 21 Robust order intake despite high base for comparison (large contract wins in 2020) By business line (in € billion) By geographical area (in € billion) 41.7 +4% 43.5 -2% 42.4 41.7 +4% 43.5* -2% 42.4 14,2 14,4 16,1 +2% +12% 21,7 +14% 24,7 -7%*** 23,0 ** 27,5 +5% 29,0 -9% 26,3 * *
Slide 16: VINCI Energies in FY 2021
VINCI Energies in FY 2021 Revenue Ebit Ebit/Revenue Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Key takeaways Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 § Revenue significantly up vs FY 2019 (+10%) 15,097 m € €985 m 6.5% ü Despite supply shortages at year-end, growth sustained +11% +€212 m vs 5.7% in FY 20 +10% +€
Slide 17: VINCI Construction in FY 2021
VINCI Construction* in FY 2021 Key takeaways Revenue Ebit Ebit/Revenue § VINCI Construction now includes Eurovia Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 § Revenue up 5% vs FY 2019 ü France: revenue down 4% (+10% vs FY20) Still firm business levels in public works and
Slide 18: VINCI Immobilier in FY 2021
VINCI Immobilier in FY 2021 Key takeaways Housing unit Revenue ROI* § At comparable scope (ie excluding Urbat, fully reservations (France) consolidated for the first time in 2021), consolidated Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 Δ FY 2021/FY 201
Slide 19: FY 2021 financial data
FY 2021 financial data Christian Labeyrie, Executive Vice-President and CFO
Slide 20: Change in FY 2021 consolidated revenue by division
Change in FY 2021 consolidated revenue by division Concessions VINCI Energies VINCI Construction Real Estate vs FY 2020 €7,046 m +20.7% €15,097 m +10.5% €26,282 m +13.5% €1,611 m +35.5% vs FY 2019 (17.5)% +9.8% +4.9% +22.1% O/w VINCI Autoroutes: Organic Scope FX Organic Scope FX Organic Scope €5,550
Slide 21: Change in FY 2021 consolidated revenue by geographical area
Change in FY 2021 consolidated revenue by geographical area France International vs FY 2020 €26,319 m +14.9% €23,078 m +13.6% vs FY 2019 +0.0% +6.1% Organic Scope Organic Scope FX €49,396 m +1.6% +0.4% +0.9% +11.6% €43,234 m +13.9% Total VINCI Group revenue change FY 2020 vs FY 2020 +14.3% +12.9% +1
Slide 22: Operating income from ordinary activities (Ebit)
Operating income from ordinary activities (Ebit) VINCI Ebit: €4,723 million, strongly up vs FY 2020 (+€1,864 m), but still down vs FY 2019 (-€1,011 m) Ebit margin: 9.6% VINCI Autoroutes VINCI Airports VINCI Energies VINCI Construction VINCI Immobilier +860 vs FY 20 -125 vs FY 19 2,967 2,841 +163 vs
Slide 23: Income statement
Income statement (in € million) FY 2021 FY 2020 FY 2019 Δ 2021/2020 Δ 2021/2019 Operating income from ordinary activities (Ebit) 4,723 2,859 5,734 +1,864 -1,011 % of revenue 9.6% 6.6% 11.9% Share-based payment expense (IFRS 2) (288) (240) (291) Profit/loss of equity-accounted cos. & miscellaneous 29
Slide 24: Limited increase in net financial debt despite Cobra IS
Limited increase in net financial debt during FY 2021 (€1.3 bn) despite Cobra IS acquisition (in € billions) Free cash flow: €5,282 m vs €3,990 m in FY 2020 and €4,201 m in FY 2019 (19.3) (18.0) Dividends & Miscellaneous (2.0) Acquisitions / EBITDA Capex Disposals (4.7) O/w: 7.9 Δ Working capital In
Slide 25: Cumulative free cash flow over the year
Cumulative free cash flow over the year Seasonal development of free cash flow, December contributing between 24% and 50% of the annual amount* (in € billions) 6,0 5.3 5,0 4.2 4,0 4.0 3.4 3,0 3.2 2.0 2,0 1,0 0,0 -1,0 Jan. Feb. March Apr. May June July Aug. Sep. Oct. Nov. Dec. FY 2019 FY 2020 FY 2021
Slide 26: Strong free cash flow generation and high cash conversion
Strong free cash flow generation and high level of cash conversion Free cash flow generation 2012 to 2021: €31.5 bn total FCF Net income 10-year CAGR 10-year CAGR +18% 5.3 CAGR +9.5% +3.2% 4.2 4.0 3.2 3.3 3.0 2.9 3.0 2.7 2.5 2.5 2.5 2.6 2.2 2.2 1.9 2.0 2.0 2.0 1.2 2012 x3 x4 2013 x5 x6 2014 x7 x8 20
Slide 27: Consolidated balance sheet
Consolidated balance sheet (in € million) 31 Dec. 2021 31 Dec. 2020* 31 Dec. 2019* Δ 2021/2019 Non-current assets – Concessions 40,437 40,879 42,968 -2,531 Non-current assets – Energy, Construction and other 19,976 14,212 14,055 +5,921 WCR, provisions and other current assets & liabilities (11,621)
Slide 28: Financial policy: strong liquidity and credit rating
Financial policy: strong liquidity and credit rating High level of liquidity despite the acquisition of Cobra IS Strong credit rating S&P A- Outlook stable Confirmed for VINCI SA, ASF and Cofiroute in June 2021 18.0 17.8 15.1 Moody’s A3 Outlook stable 10,0 9,3 * Confirmed for VINCI SA and ASF in Oct
Slide 29: Financial policy: optimising the average cost of debt
Financial policy: optimising the average cost of debt Gross financial debt cost over the past 5 years (average rate) Breakdown of debt by currency 2.7% 2.4% 27% FY 2017 2.3% 2.3% 59% 31 Dec. £ FY 2018 FY 2019 FY 2020 2.1% € 2021 FY 2021 8% $ 2% PEN 4% other currencies 29
Slide 30: Outlook and strategy
Outlook and strategy Xavier Huillard, Chairman and CEO
Slide 31: VINCI Autoroutes: traffic now above 2019 level
VINCI Autoroutes: traffic now above 2019 level Change in VINCI Autoroutes monthly traffic levels in 2020 and 2021 (vs. 2019) 20% Q4 2021 traffic up 3.4% 0% * (vs Q4 2019) despite high comps in December* -20% -40% +3.1% Of -60% which: +4.9% -80% -100% Jan. Feb. March Apr. May Jun. Jul. Aug. Sep. Oct.
Slide 32: VINCI Airports: gradual recovery since the summer
VINCI Airports: gradual recovery since the summer Change in VINCI Airports monthly passenger numbers* in 2020 and 2021 (vs. 2019) Q4 2021 pax (vs Q4 2019): -46.3% 20% -27.2% 0% Portugal -37.0% -20% France -4.1% -40% Of Dom. Rep. which: -31.7% -60% Chile -69.5% -80% London Gatwick -100% -65.9% Jan. F
Slide 33: VINCI Energies & VINCI Construction order book at an all-time high
VINCI Energies & VINCI Construction order book at an all-time high Order book up; International accounts for 62% (Europe excl. France 36%, RoW 26%) By business lines (in € billion) By geographical area (in € billion) +5% 44.5 * +5% 44.5 * 42.4 42.4 +16% +16% 36.5 +11% 11,0 36.5 9,9 16,7 +9% 16,9 -1%
Slide 34: 2022 outlook
2022 outlook ü Although the public health situation has not yet stabilised and despite ongoing economic and geopolitical tensions, VINCI is confident going into 2022. Energy VINCI Construction Concessions VINCI Energies’s markets remain buoyant VINCI Autoroutes, following the and it should be able t
Slide 35: Dividend per share
Dividend 28 April 2022 2021 dividend per share to be proposed to the €2.90 Payment date (all cash) Shareholders’ General Meeting of 12 April 2022 per share 26 April 2022 Ex-date 2021 pay-out ratio: 64% 3.05 * 2.90 2.67 2.45 2.22 2.10 2.04 2.04 1.77 1.77 1.84 Total dividend (–) interim dividend Inter
Slide 36: VINCI's environmental ambition and 2021 performance
VINCI’s environmental ambition and 2021 performance Optimize resources Preserve natural Act for the thanks to circular Climate environments economy Ambition 2030 Ambition 2030 Ambition 2030 Towards -40% greenhouse gas 90% low carbon concrete used >20 mt recycled aggregates Zero Waste no net loss No
Slide 37: VINCI Environment Awards and environmental solutions
VINCI Environment Awards and the deployment of environmental solutions The VINCI Environment Awards reward the best initiatives The results submitted by employees in the field around the world. In June 2021, 190 initiatives received a regional award. It is the Group's way of giving its employees the
Slide 38: Opportunities for VINCI: some of the winning initiatives
Opportunities for VINCI: some of the winning initiatives Mainstreaming Exegy ultra- Solar energy self-consumption Reducing CO2 emissions from Reusing water from air low-carbon concrete to power electric vehicle motorway maintenance work conditioners VINCI Construction charging stations (Reve) by 49%
Slide 39: VINCI's social performance in 2021
VINCI’s social performance in 2021 Aiming for global performance and sharing with our stakeholders the benefits of our performance 2 million 73% 21.6% 4,132,250 198,000 of companies without lost-time of female managers in hours of training provided in 2021 Employees eligible to hours of integration
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Slide 41: Appendices
VINCI “ Appendices
Slide 42: Cobra IS: highlights on noteworthy projects
Cobra IS: highlights on noteworthy projects
Slide 43: Belmonte I&II, Brazil (1/2)
Belmonte I&II, Brazil (1/2) Belmonte I & II- 569.5 MWp Solar PV Brazil (Pernambuco) Background information PROJECT SUMMARY • Project Location: 11 km Northwest from São José do Technology Photovoltaic Belmonte. Outstanding location due to its optimal solar resource in combination with favorable weath
Slide 44: Belmonte I&II, Brazil (2/2)
Belmonte I&II, Brazil (2/2) Belmonte I & II- 569.5 MWp Solar PV Brazil (Pernambuco) Development status TIMELINE • Land Rights (plant): 35-year land lease agreement signed Land Secured • Land Rights (interconnection): rights-of-way negotiation Grid connection Granted currently underway (first payment
Slide 45: Villonaco III, Ecuador (1/2)
Villonaco III, Ecuador (1/2) Villonaco III, 110 MW Onshore Wind Ecuador (Loja) Background information PROJECT SUMMARY • Cobra Group was awarded in December 2020 by the Ministry of Energy Capacity 110 MW the project in a public tender Mean wind speed ~10m/s • Project Location: along a ridgeline ~22 k
Slide 46: Villonaco III, Ecuador (2/2)
Villonaco III, Ecuador (2/2) Villonaco III, 110 MW Onshore Wind Ecuador (Loja) Development status TIMELINE • Land Rights: currently underway, with support of public Grid connection February 2022 procedures as far as necessary Environmental Permitting June 2022 • Environmental Permitting: Environment
Slide 47: PSF Mula II, Spain (1/2)
PSF Mula II, Spain (1/2) PSF Mula II, 114.4 MWp Spain (Mula, Murcia) Background information PROJECT SUMMARYCAPEX Equivalent Hours /year 1960 • The ‘PSF Mula II’ is a 114.4 MWp PV solar plant sited in the Capacity 114.4 MWp town of Mula (Region of Murcia, Spain) developed by Cobra Technology Solar PV
Slide 48: PSF Mula II, Spain (2/2)
PSF Mula II, Spain (2/2) PSF Mula II, 114.4 MWp Spain (Mula, Murcia) Development status TIMELINE Lands Agreement 100% granted • Grid connection point already secured Grid connection Granted • The environmental impact statement is a government Environmental permit Q2 2022 document that confirms the p
Slide 49: Morecambe, England (1/2)
Morecambe, England (1/2) Morecambe, 480 MW Offshore Wind England (Irish Sea) Background information PROJECT SUMMARY Sea Area 125 sqm • Morecambe is a 480 MW fixed offshore wind farm in the Irish Sea being Capacity 480 MW developed in partnership with Flotation Energy through our joint venture Mean w
Slide 50: Morecambe, England (2/2)
Morecambe, England (2/2) Morecambe, 480 MW Offshore Wind England (Irish Sea) Development status TIMELINE • Onshore and offshore environmental surveys in progress Round 4 auction award Q1 2021 • Onshore and offshore cable routing and transmission studies in progress Signature Agreement for Lease Q2/Q
Slide 51: Kincardine, Scotland
Kincardine, Scotland Kincardine, 50 MW Offshore Wind Scotland (North Sea) Background information PROJECT SUMMARY • The Kincardine Offshore Windfarm is located 15km off the coast of Technology Wind Offshore South-East Aberdeen Sea Area 50 sqm • The Kincardine project, developed and built by Grupo Cob
Slide 52: Financial data
Financial data as of December 31, 2021
Slide 53: Consolidated revenue
Consolidated revenue Δ 2021/2020 Δ 2021/2019 in € million FY 2021 FY 2020 FY 2019 Actual Like-for-like Actual Concessions 7,046 5,839 8,544 +20.7% +20.9% -17.5% VINCI Autoroutes 5,550 4,613 5,593 +20.3% +20.3% -0.8% VINCI Airports 1,188 990 2,631 +19.9% +19.8% -54.9% Other Concessions 309 235 319 +3
Slide 54: Consolidated revenue - France
Consolidated revenue - France Δ 2021/2020 Δ 2021/2019 in € million FY 2021 FY 2020 FY 2019 Actual Like-for-like Actual Concessions 5,867 4,871 6,079 +20.4% +20.4% -3.5% VINCI Autoroutes 5,550 4,613 5,593 +20.3% +20.3% -0.8% VINCI Airports 220 185 371 +19.2% +19.2% -40.5% Other Concessions 96 73 115
Slide 55: Consolidated revenue - International
Consolidated revenue - International Δ 2021/2020 Δ 2021/2019 in € million FY 2021 FY 2020 FY 2019 Actual Like-for-like Actual Concessions 1,180 968 2,464 +21.9% +23.2% -52.1% VINCI Airports 967 805 2,261 +20.1% +19.9% -57.2% Other Concessions 213 162 204 +30.9% +41.2% +4.5% VINCI Energies 8,399 7,80
Slide 56: Ebit by business line
Ebit - operating income from ordinary activities by business line % of % of % of Δ Δ in € million FY 2021 FY 2020 FY 2019 revenue* revenue* revenue* 2021/2020 2021/2019 Concessions 2,683 38.1% 1,586 27.2% 3,989 46.7% +1,097 -1,305 VINCI Autoroutes 2,841 51.2% 1,981 42.9% 2,967 53.0% +860 -125 VINCI
Slide 57: Recurring operating income (ROI) by business line
Recurring operating income (ROI) by business line % of in € million FY 2021 % of revenue* FY 2020 FY 2019 % of revenue* Δ 2021/2020 Δ 2021/2019 revenue* Concessions 2,583 36.7% 1,459 25.0% 4,146 48.5% +1,124 -1,563 VINCI Autoroutes 2,828 50.9% 1,968 42.7% 2,948 52.7% +860 -120 VINCI Airports (265) (
Slide 58: Ebitda
Ebitda % of % of in € million FY 2021 FY 2020 FY 2019 % of revenue* Δ 2021/2020 Δ 2021/2019 revenue* revenue* Concessions 4,676 66.4% 3,491 59.8% 5,796 67.8% +1,185 -1,120 o/w VINCI Autoroutes 4,116 74.2% 3,231 70.0% 4,178 74.7% +885 -62 o/w VINCI Airports 385 32.4% 146 14.7% 1,466 55.7% +239 -1,081
Slide 59: Cash flow from operations before tax and financing costs (Ebitda)
Cash flow from operations before tax and financing costs (Ebitda) VINCI Group Ebitda: €7,884 million (+1,965 vs FY 20, -613 vs FY 19) Ebitda margin: 16.0% (+230 bp vs FY 20, -170 bp vs FY 19) VINCI Autoroutes VINCI Airports VINCI Energies VINCI Construction VINCI Immobilier +885 vs FY 20 -62 vs FY 1
Slide 60: Cash flow statement (1/2)
Cash flow statement (1/2) in € million FY 2021 FY 2020 FY 2019 Ebitda 7,884 5,919 8,497 * Change in WCR and current provisions 1,579 2,330 428 Income taxes paid (1,213) (1,054) (1,547) Net interest paid (557) (590) (458) Dividends received from companies accounted for under the equity method 112 71
Slide 61: Cash flow statement (2/2)
Cash flow statement (2/2) in € million FY 2021 FY 2020 FY 2019 Free cash flow (after CAPEX) 5,282 3,990 4,201 Net financial investments and other cash flows (4,643)* (370) (8,335) Cash flow before movements in share capital 639 3,619 (4,134) Share capital increases and other operations 721 648 933 D
Slide 62: Operating CAPEX
Operating CAPEX in € million FY 2021 FY 2020 FY 2019 Δ 2021/2020 Δ 2021/2019 Concessions 77 180 242 -103 -165 VINCI Autoroutes 23 22 24 +1 -1 * VINCI Airports 44 138 205 -94 -161 Other Concessions 9 19 12 -10 -3 VINCI Energies 182 164 160 +18 +22 VINCI Construction 758 624 808 +134 -50 VINCI Immobil
Slide 63: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs in € million FY 2021 FY 2020 FY 2019 Δ 2021/2020 Δ 2021/2019 Concessions 841 1,035 1,026 -194 -185 VINCI Autoroutes 677 731 775 -54 -98 Of which: ASF 230 333 266 -103 -35 Escota 120 86 92 +34 +27 Cofiroute 224 216 181 +8 +42 Arcos 95 89 227 +6 -132 VINCI Airports
Slide 64: Net financial debt by business line
Net financial debt by business line Of which external Of which external Δ 31 Dec. 2021/ 31 Dec. 2021 net debt 31 Dec. 2020 net debt in € million 31 Dec. 2020 Concessions (32,693) (19,664) (32,718) (20,409) +25 VINCI Autoroutes (18,008) (13,296) (18,318) (14,484) +310 VINCI Airports (11,723) (5,860)
Slide 65: Maturity of LT gross financial debt
Maturity of LT gross financial debt Average maturity of LT gross financial debt (€28.6 bn) as of 31 December 2021: 7.3 years* 3 500 3 000 2 500 € Million 2 000 1 500 1 000 500 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 >2037 Groupe ASF Cofiroute Arcour Arcos VINCI A
Slide 66: Average cost of future debt repayments
Average cost of future debt repayments 2022 2023 2024 2025 2026 2027 Nominal amount in € million 3,209 1,580 1,487 1,773 2,119 2,491 Average rate* 2.23% 1.30% 3.23% 0.55% 2.09% 0.95% * After hedging 66
Slide 67: Natural hedging against interest rates rises
Natural hedging against interest rates rises 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 breakdown between fixed and floating rates (in € billion) 28.4 27.9 28.6 5
Slide 68: Other information
VINCI “ Other information
Slide 69: 2021 key figures
VINCI 2021 key figures €49.4 bn >100 ~3,200 >260,000* >270,000 €55 bn Group revenue countries where number of employees number of market cap. at (incl. holdings) VINCI operates business units contracts 31 December 2021 Concessions Energy Construction Immobilier Revenue: €7.0 bn Revenue: €15.1 bn Rev
Slide 70: A growing international presence
A growing international presence 2011 revenue geographic breakdown 2021 revenue geographic breakdown 11% 5% 3%3% 5% 7% 3% 5% 19% €37.0 bn €49.4 bn 53% INCREASED INTERNATIONAL 64% EXPOSURE 23% 2011 Revenue CAGR 2011/2021 2021 Revenue France €23.6 bn +1.1% €26.3 bn International €13.4 bn +5.6% €23.1 b
Slide 71: Shareholder base at 31 December 2021
Shareholder base at 31 December 2021 Rest of the World Rest of Europe 16,5% 6,0% Individual investors 7,6% 15,0% Employees Institutional United Kingdom investors 592.4 m 9,9% 74.6% shares 3,8% Qatar Holding LLC 4,2% Treasury shares 23,4% North America 13,7% France Shareholding structure* ü Over 900
Slide 72: Aiming for an all-round performance
Aiming for an all-round performance A sustainable economic project is impossible without an ambitious social, workforce-related and environmental commitment. 72
Slide 73: Business line profiles
VINCI “ Business line profiles
Slide 74: Concessions Profile
Concessions Profile Revenue and Ebitda margin over the last 5 years 2021 revenue by geographical area 8.5 7.3 5% 2% 6.9 7.0 4% 5.8 6% France 67,8% 68,4% 67,8% 66,4% Portugal 59,8% €7.0 bn UK Americas RoW 2017 2018 2019 2020 2021 83% Revenue (€bn) EBITDA margin 79% 17% VINCI HIGHWAYS, VINCI RAILWAYS
Slide 75: Concessions capex forecasts
Concessions capex forecasts* In € million 1 600 1 400 1 200 1 000 VINCI Airports (incl. London Gatwick) 800 VINCI Autoroutes** 600 400 200 0 2022e 2023e 2024e * As of 31 December 2021 and including fully consolidated assets only ** Excluding capex related to the Montpellier Western bypass 75
Slide 76: VINCI Autoroutes traffic
VINCI Autoroutes FY 2021 VINCI Autoroutes traffic Of which: VINCI Autoroutes - Rolling twelve months traffic over 10 years Total Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 Δ FY 2021/FY 2020 125 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 Δ FY 2021/FY 2019 120 CAGR Q4 2021/ Q4 2011 115 +22.1% +24.4% +10.2% HV +1.8%
Slide 77: VINCI Airports FY 2021 passenger traffic
VINCI Airports FY 2021 passenger traffic Q4 2021 FY 2021 FY 2019 Change Change Change Change Passenger traffic (thousand pax) 2021 2021 2019 2021/2020 2021/2019 2021/2020 2021/2019 Portugal (ANA) 9,632 +217% -27.2% 24,899 +38.6% -57.9% 59,120 o/w Lisbon 5,061 +241% -31.3% 12,149 +31.2% -61.0% 31,173
Slide 78: VINCI Autoroutes
VINCI “ VINCI Autoroutes
Slide 79: 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 80: VINCI Autoroutes - contractually CPI-linked tariffs
VINCI Autoroutes - contractually CPI-linked tariffs Contractual framework of toll increases (LVs) ASF Escota Cofiroute Intercity Network End of 2036 2032 2034 concession 2022* 2.19% 2.05% 1.90% 70% x i 70% x i 70% x i 2023 + 0.39% (2015 toll freeze) + 0.25 % (2015 toll freeze) + 0.10% (2015 toll fre
Slide 81: VINCI Airports
VINCI “ VINCI Airports
Slide 82: Airports, the world's largest private-sector airport operator
VINCI Airports, the world’s largest private-sector airport operator The most geographically diversified airport operator Passengers traffic1 (millions of pax.) 53* platforms in 12 countries 255 195 157 132 77 86 69 43 47 10 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Passengers traffic* (milli
Slide 83: VINCI Airports in 2021
VINCI Airports in 2021 Revenue and Ebitda margin over the past 5 years Traffic breakdown by segment* (FY 2019) 2.6 1% Tourism/Leisure 56% VFR (Visiting Friends & Relatives) 1.6 21% 1.4 Business 1.2 1.0 58,6% Other 57,3% 55,7% 22% 32,4% 14,7% 2017 2018 2019 2020 2021 * Estimates based on internal sur
Slide 84: VINCI Airports network (1/2)
VINCI Airports network (1/2) VINCI AIRPORTS VINCI Country Name Description mPAX in 2021 End of concession Traffic risk Consolidation share London Gatwick Freehold 6.3 - 50% Yes Full consolidation UK Belfast International Freehold 2.3 2993 100% Yes Full consolidation ANA Portugal 24.9 (10 airports in
Slide 85: VINCI Airports network (2/2)
VINCI Airports network (2/2) VINCI AIRPORTS VINCI Country Name Description mPAX in 2021 End of concession Traffic risk Consolidation share Orlando-Sanford Concession 2.4 2039 100% Yes Full consolidation USA 4 airports : Hollywood Burbank Airport in California, Management 4.6 Atlantic City in New Jer
Slide 86: VINCI Highways, VINCI Railways and VINCI Stadium
VINCI Highways, VINCI Railways and VINCI Stadium
Slide 87: Other concessions
Other concessions Revenue over the past 5 years 319 309 298 258 235 44% 48% 49% 57% 43% 2017 2018 2019 2020 2021 Revenue (€m) EBITDA margin Main fully consolidated entities Revenue € million FY 2021 FY 2020 Lima Expresa (Peru) 90 73 Rion Antirion bridge (Greece) 49 33 MESEA (Tours-Bordeaux high-spee
Slide 88: VINCI Highways - Electronic Toll Collection
VINCI Highways - Electronic Toll Collection (ETC) Serving about 2 million ETC subscribers worldwide UTS, Russian leader in M50 motorway operation and (Dublin ringroad) toll management SR91 Greece Express Lanes CTRMA CCRMA NTTA Toll Plus ICICI Bank Bank of Baroda VIA 40 Canara Bank Express Major Step
Slide 89: VINCI Highways
VINCI Highways VINCI HIGHWAYS End of VINCI Country Type Name Description Traffic risk Consolidation concession share 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 90: 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 2033 33.3% yes Equity method France Tunnel Prado Sud 1.9 km road tunnel, Marseille 2055 58.5% yes Equity metho
Slide 91: 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 GSM-Rail Ground-train communication system on 14,000 km of track 2025 70% no Equity method France Rail SEA High-Speed-Rail 302 km of high-speed rail line be
Slide 92: Non-controlling stakes in concessions
Non-controlling stakes in concessions VINCI share, based on best estimates as of 31/12/2021 Projects consolidated under the equity method In € millions Equity invested Equity to be Equity committed at 31/12/2021 invested LISEA 258 258 0 Kansai Airports (Japan) 253 253 0 Santiago Airport (Chile) 193
Slide 93: Energy & Construction
VINCI “ Energy & Construction
Slide 94: VINCI Energies & VINCI Construction profile
VINCI Energies & VINCI Construction profile Revenue and Ebit margin over the last 5 years 2021 revenue by geographical area 41.4 35.8 38.8 * 36.8 * France 12% 32.8 Germany 4% Est. Revenue Non Public 4.1% 4.3% UK 6% split public Central & Eastern 47% France 19% 27% 3.7% 3.8% 4,1% 4,3% 3.4% 4,7% Europ
Slide 95: VINCI Energies: making energy transition and digital transformation a reality
VINCI Energies: making energy transition and digital transformation a reality Revenue and Ebit margin over the past 5 years 2021 revenue by geographical area France Americas 15.1 3%4% Germany Africa 13.7 13.7 6% 12.6 Scandinavia RoW 10.8 Rest of Europe 1,800 22% €15.1 bn 44% 6,5% Business Units 5,7%
Slide 96: VINCI Construction: France's leading construction company
VINCI Construction*: France’s leading construction company and a major global player * In addition to its construction activities, VINCI Construction includes Eurovia since January 2021 Revenue and Ebit margin over the past 5 years 2021 revenue by geographical area 25.1 * 26.3 22.1 23.2 23.1 * 4%2%
Slide 97: The Grand Paris Express project
The Grand Paris Express project €4.6 bn attributed to VINCI entities as of December 2021 4 new metro lines around Paris and 2 line extensions Around €35 bn 200 km 68 Automatic New stations Construction metro lines budget* Expected completion in 2030 Works by VINCI entities * source: Société du Grand
Slide 98: VINCI Immobilier
VINCI “ VINCI Immobilier
Slide 99: VINCI Immobilier
VINCI Immobilier Revenue over the past 5 years 2021 reservations by destination 1.6 €2.0 bn 1.3 2021 managed revenue* Buy to let private 1.1 1.2 investors 29% 0.9 37% Social, Presence in Institutional 7,325 23 Cities in France 2017 2018 2019 2020 2021 (+ in Monaco and Poland) 23% 11% Private owners
Slide 100: Notes
Notes VINCI “ i eeeeeeeeererrrrrrr—“(tisSsCSCSCSCSCSCSCSCSCSC( EUS C100}
Slide 101: IR team and agenda
IR team and agenda TEAM April 2022 12 Grégoire THIBAULT Boris VALET VINCI Shareholders meeting Head of investor relations Investor relations officer gregoire.thibault@vinci.com boris.valet@vinci.com Tel: +33 1 57 98 63 84 Tel: +33 1 57 98 62 84 April 2022 26 Ex-dividend date Walid LOUNIS Investor re