Vinci SA · EURONEXT:DG
Vinci SA — Q1 2024 Earnings Presentation
102 slides from Vinci SA's earnings presentation, Dec 2, 2024
Slide 1: VINCI wins a 7-year contract worth €700 m to renew 800 km of track
VINCI wins a 7-year contract worth €700 m to renew 800 km of track in the French railway network
Slide 2: Forward-looking statements 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 factors that may
Slide 3: Q1 2024 highlights
Q1 2024 highlights
Slide 4: Good performance overall, both in France and abroad
Good performance overall, both in France and abroad VINCI Autoroutes: upturn in traffic levels in March after disruptions at the start of the year VINCI Airports: passenger numbers higher than in 2019 for the second consecutive quarter VINCI Highways: sustained traffic growth for the main assets VIN
Slide 5: Total revenue
Δ 2024/2023 in € million Concessions* 2,352 2,206 +6.6% +5.3% VINCI Autoroutes 1,375 1,332 +3.2% +3.2% VINCI Airports 876 767 +14.3% +10.8% VINCI Highways 81 75 +9.2% +4.5% Other concessions** 20 32 -39.5% -39.5% VINCI Energies 4,615 4,395 +5.0% +3.8% Cobra IS 1,608 1,496 +7.5% +7.6% VINCI Construct
Slide 6: Total Q1 2024 VINCI Group revenue
* Q1 2024 €1,375 m €977 m €4,615 m €1,608 m €6,999 m €248 m revenue vs Q1 2023 +€43 m +€103 m +11.8% +€220 m +5.0% +€112 m, +7.5% +€262 m +3.9% €(48) m o/w VINCI Airports: +€109 m, +14.3% Organic Scope FX Organic Scope FX Organic Scope FX €15,725 m Organic Scope FX +0.2% (0.1)% (16.1)% €15,002 m (0.
Slide 7: Total Q1 2024 VINCI Group revenue
Q1 2024 revenue / €7,056 m / 45% €8,669 m / 55% Group contribution vs Q1 2023 +€276 m +4.1% +€447 m +5.4% Organic Scope Organic Scope FX €15,725 m +0.9% +0.1% €15,002 m +4.5% +0.1% +4.0% Total Q1 2024 VINCI Group revenue €15,725 m +€724 m vs Q1 2023 +4.8% +4.2% +0.5% 0.0% Organic Scope FX 7
Slide 8: VINCI Autoroutes Q1 2024 key takeaways
Beginning of the public enquiry for the development of a solar PV farm of ~6 MWp capacity by Solarvia along the A64 motorway sidings near Pau Q1 2024 Key takeaways ◼ Revenue: €1,375 m (+3.2% vs Q1 23) ◼ Traffic levels in Q1 24: -1.4% vs Q1 23, impacted by farmers’ blockades, to varying degrees, from
Slide 9: Q1 2024 VINCI Autoroutes traffic
VINCI Autoroutes - Rolling twelve-month traffic over 10 years Q1 2024 VINCI Autoroutes traffic CAGR Q1 2024/ 130 Q1 2014 Total 125 HV +2.1% Δ Q1 2024/Q1 2023 -1.4% -0.8% -4.1% 120 Total +1.5% 115 LV +1.4% Of which, mainly: 110 French GDP * +1.1% 105 100 ASF -2.5% -1.8% -5.3% 95 90 Escota +1.4% +1.5%
Slide 10: VINCI Airports Q1 2024 key takeaways
Signing of the acquisition of a 50.01% stake in Edinburgh airport in Scotland for £1.27 bn* (equity value at 50.01%) (14.4 mpax in 2023, freehold asset) Q1 2024 Key takeaways ◼ Revenue: €876 m (+14% vs Q1 23, +11% lfl) ◼ Traffic: 62 mpax (+12.4% vs Q1 23, +0.6% vs Q1 19), above pre-covid levels for
Slide 11: Change in VINCI Airports monthly passenger numbers vs 2019
Change in VINCI Airports monthly passenger numbers (vs. 2019) 40% 20% VINCI Airports +0.6% Dominican 0% Republic +27% -20% Portugal +22% -40% Mexico +15% -60% Japan -9% -80% UK -12% -100% France -13% 2020 2021 2022 2023 2024 VINCI Airports Aerodom (Dom. Rep.) OMA (Mexico) ANA (Portugal) UK France Ja
Slide 12: VINCI Airports passenger traffic by country
Portugal (ANA) 13,429 +5.8% +21.9% o/w Lisbon 7,515 +5.5% +20.2% United Kingdom 9,657 +13.9% -12.3% o/w London Gatwick 8,333 +11.6% -13.9% Mexico 5,888 -1.3% +15.1% o/w Monterrey 2,857 +2.0% +20.2% France 3,904 +8.1% -11.5% o/w ADL (Lyon) 2,236 +5.8% -12.8% Cambodia 1,181 +23.0% -38.0% USA* 1,574 +4
Slide 13: VINCI Highways Q1 2024 key takeaways
Closing of the acquisition of Denver’s Northwest Parkway, a 14-km toll road concession in Colorado (US) lasting until 2106 (83 years) for ~$1.2 bn (equity value at 100%) Q1 2024 Key takeaways ◼ VINCI Highways revenue: €81 m (+9.2% vs Q1 23, +4.5% lfl) – Traffic up between 2.5% and 5% for the main co
Slide 14: VINCI Energies Q1 2024 key takeaways
Deployment of electrical infrastructure to deliver high- voltage power supply system for cruise ships docked at the berths of HAROPA PORT (Le Havre, France) Q1 2024 Key takeaways ◼ Q1 24 revenue: €4,615 m (+5.0% actual, +3.8% lfl) – France revenue up 2.4% (+2.0% lfl), despite high base for compariso
Slide 15: Cobra IS Q1 2024 key takeaways
Deployment of a complete tunnel management system for the WestConnex motorway in Sydney (Australia) Q1 2024 Key takeaways ◼ Q1 24 revenue: €1,608 m (+7.5% actual, +7.6% lfl), reflecting good impetus in flow business and large EPC* projects, notably in Spain – Spain revenue up 19% (both actual and lf
Slide 16: VINCI Construction Q1 2024 key takeaways
A 6-year contract to dismantle two units of the Ringhals nuclear power plant in Sweden Q1 2024 Key takeaways ◼ Q1 24 revenue: €6,999 m (+3.9% actual, +3.8% lfl) – France: revenue up 6%, driven by building rehabilitation works, construction works related to public buildings (notably hospitals) and ro
Slide 17: VINCI order intake by business line and geographical area
VINCI order intake at €18.5 bn, +19% yoy fuelled by firm activity levels in flow business and several large contracts won year-to-date By business line (in € billion) By geographical area (in € billion) 18.5 18.5 15.5 (1) 15.5 4.0 12.5 2.0 12.5 7.0 1.1 6.3 7.0 6.0 5.5 4.7 (1) 9.2 4.5 5.9 6.6 7.5 8.2
Slide 18: VINCI order book by business line and geographical area
International accounts for 68% of the order book, of which: • • By business line (in € billion) By geographical area (in € billion) 13.8 66.7 66.7 60.3 61.4 30.4 60.3 61.4 16.7 21.3 11.5 14.4 19.4 20.0 9.8 14.5 14.3 16.0 23.2 25.6 29.9 34.3 32.7 33.9 12.8 17.7 15.8 15.5 March 2023 December 2023 Marc
Slide 19: VINCI Immobilier Q1 2024 key takeaways
Completion of the urban recycling of the former headquarters of the Casino group, turned into a new Ovelia senior residence in Saint-Etienne (France) Q1 2024 Key takeaways ◼ Q1 24 consolidated revenue: €248 m (-16% vs Q1 23) – Decrease mirroring the conjunctural difficulties in the residential secto
Slide 20: Substantial liquidity and solid credit rating
Substantial liquidity and solid credit rating High level of liquidity Solid credit rating 19.5 18.5 A- Outlook stable 10.5 -4 Confirmed for VINCI in March 2024 6.5 A3 Outlook stable Confirmed for VINCI in July 2023 Data in € billion +3 12.0 9.0 Net cash managed Unused confirmed bank credit facility
Slide 21: 2024 guidance
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 22: Recent acquisitions and contract milestones
December 2023: extension of the concession Q1 2024: 10 bolt-on acquisitions completed (~€80 m of full-year revenue) contract of Aerodom (6 airports in Dominican Republic of which the international airport of Santo Domingo, 6.6 mpax in total in 2023) for 30 years until 2060 April 2024: signing of the
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Slide 24: Appendices
Appendices FIRST QUARTER 2024 HIGHLIGHTS VINE!
Slide 25: Act for the climate; circular economy; natural environments
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 26: CDP ratings and climate indicators
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 26
Slide 27: Social indicators
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
Slide 28: Financial data as of March 31, 2024
Financial data as of March 31, 2024 FIRST QUARTER 2024 HIGHLIGHTS VINE!
Slide 29: Total revenue France
Δ 2024/2023 in € million Concessions* 1,487 1,450 +2.5% +2.5% VINCI Autoroutes 1,375 1,332 +3.2% +3.2% VINCI Airports 92 86 +7.1% +7.1% Other concessions** 19 32 -39.9% -39.9% VINCI Energies 2,040 1,993 +2.4% +2.0% Cobra IS 10 9 +19.7% +19.7% VINCI Construction 3,342 3,159 +5.8% +5.7% VINCI Immobili
Slide 30: Total revenue International
Δ 2024/2023 in € million Concessions* 866 756 +14.5% +10.5% VINCI Airports 784 681 +15.2% +11.2% VINCI Highways 81 75 +9.1% +4.4% Other concessions** 0 0 -6.2% -7.9% VINCI Energies 2,575 2,402 +7.2% +5.2% Cobra IS 1,598 1,488 +7.4% +7.5% VINCI Construction 3,656 3,578 +2.2% +2.1% VINCI Immobilier 1
Slide 31: Financial data as of December 31, 2023
Financial data as of December 31, 2023 FIRST QUARTER 2024 HIGHLIGHTS VINE!
Slide 32: Total revenue FY 2023
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 33: FY 2023 revenue by division
€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 33
Slide 34: Operating income from ordinary activities 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 35: 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 36: VINCI Group Ebitda
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 37: 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 38: VINCI Group Ebit
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)% 38 (Ebit in € million and Ebit margin as % of
Slide 39: 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 40: 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 41: 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 42: 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 43: 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 43
Slide 44: 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 45: 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 46: Capital employed
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 47: 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 48: Free cash flow and net financial debt bridge
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 49: 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 50: Debt maturity by entity
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 50
Slide 51: Bond 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 51
Slide 52: 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 53: Other information
Other information FIRST QUARTER 2024 HIGHLIGHTS VINE!
Slide 54: VINCI group key figures
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 55: Revenue by geographical area 2013 to 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 55
Slide 56: 2023 revenue, Ebitda and net income 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 57: Ebitda breakdown 2006 vs 2023
€0.3 bn / 2% €1.9 bn / 16% €2.3 bn / 19% +€2.3 bn * +€2.7 bn €4.7 bn / 39% +€2.1 bn €0.2 bn / 6% *** €2.4 bn / 59% €2.8 bn / 23% +€0.8 bn €1.1 bn / 28% €0.2 bn / 6% €0.1 bn / 2% +€0.1 bn 2006 PF - VA 206 PF - Autres 2023 - VA 2023 - Autres VINCI Autoroutes VINCI Airports & other concessions Energy (
Slide 58: Order intake breakdown 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 and Spain In € billion 2023 2022 23/22 -First section of Line 15 West (France): ele
Slide 59: Renewable energy portfolio
At the end of December 2023 Solar PV Brazil Solar PV 100% 95% 100% Brazil 45% Spain 55% Portugal 5% FY 22 FY 23 FY 22 FY 23 FY 24+ 59 * Estimated amount
Slide 60: ROCE 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 61: Long cycles and short cycles business strategy
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 62: 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 63: Dividend per share
2023 dividend per share (all-cash) approved 23 April 2024 Ex-date during 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 disp
Slide 64: Sustainable economic project commitment
A sustainable economic project is impossible without an ambitious social, workforce-related and environmental commitment. 64
Slide 65: Business line profiles
Business line profiles FIRST QUARTER 2024 HIGHLIGHTS VINE!
Slide 66: VINCI Concessions revenue and Ebitda margin
Revenue (€bn) Ebitda margin 4% 11% France Portugal 11% €10.9 bn UK 10% 64% Americas RoW 66
Slide 67: VINCI Concessions
6% 67 = % of the division’s 2023 revenue
Slide 68: VINCI Airports and VINCI Autoroutes
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 68
Slide 69: VINCI Airports 2023 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 70: VINCI Autoroutes
VINCI Autoroutes FIRST QUARTER 2024 HIGHLIGHTS VINCI
Slide 71: 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 72: 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 73: VINCI Airports
VINCI Airports FIRST QUARTER 2024 HIGHLIGHTS VINE! “”
Slide 74: VINCI Airports platforms and airports by country
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 75: VINCI Airports passenger numbers 2014 to 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 75
Slide 76: 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 77: VINCI Airports passenger breakdown
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 77
Slide 78: Airports portfolio: UK, Portugal, Japan, Chile, Mexico, France
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 79: Airports portfolio: USA, Brazil, Serbia, Dominican Republic
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 80: VINCI Highways, VINCI Railways, VINCI Stadium
VINCI Highways VINCI Railways VINCI Stadium FIRST QUARTER 2024 HIGHLIGHTS VINCI “”
Slide 81: VINCI Highways equity invested and net debt
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 82: VINCI Highways motorway concessions
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 83: VINCI Highways tunnels, bridges and 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 84: VINCI Stadium concessions
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 85: 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 86: VINCI Energies
VINCI Energies FIRST QUARTER 2024 HIGHLIGHTS VINCI “”
Slide 87: VINCI Energies: energy transition and digital transformation
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 88: VINCI Energies business lines
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 89: Cobra IS
FIRST QUARTER 2024 HIGHLIGHTS VINE!
Slide 90: Cobra IS overview
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 91: 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 92: Cobra IS projects delivered and awarded
* ** ** * Delivered in 2023 92 ** Projects awarded whose contracts were not signed as of 31 December 2023 due to precedent conditions not met yet
Slide 93: VINCI Construction
VINCI Construction FIRST QUARTER 2024 HIGHLIGHTS VINCI “”
Slide 94: France's leading construction company and global player
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 95: VINCI Construction business lines
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 96: 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 96
Slide 97: VINCI Immobilier
VINCI Immobilier FIRST QUARTER 2024 HIGHLIGHTS VINCI “”
Slide 98: 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 99: VINCI Immobilier
XX % = % of the division’s 2023 revenue 99
Slide 100: Notes
Notes FIRST QUARTER 2024 HIGHLIGHTS VINE! “”
Slide 101: Notes
Notes FIRST QUARTER 2024 HIGHLIGHTS VINE! “”
Slide 102: Investor relations contacts and agenda
Agenda 29 VINCI Concessions conference gregoire.thibault@vinci.com boris.valet@vinci.com call: “Update on the latest +33 1 57 98 63 84 +33 1 57 98 62 84 strategic developments” 16 VINCI Autoroutes and VINCI Airports traffic in April 2024 celine.louvet@vinci.com marie.richard@vinci.com 18 VINCI Autor