Vinci Sa · EURONEXT:DG
Vinci Sa — Vinci Sa Act — H1 2024 Earnings Presentation
100 slides from Vinci Sa's earnings presentation, Jul 26, 2024
Slide 1: VINCI acquired a controlling stake in Edinburgh airport
VINCI acquired a controlling stake in Edinburgh airport, Scotland (14.4 mpax in 2023, freehold asset)
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: H1 2024 highlights
H1 2024 highlights Xavier Huillard Chairman and Chief Executive Officer 2024 FIRST HALF RESULTS VINE!
Slide 4: Revenue growth in concessions, energy and construction; Ebit up 9%
Revenue growth in concessions (+7%), energy (+6%) and construction (+3%) – Good increase in Ebit (+9%) VINCI Autoroutes: traffic penalised by intermittent protesters blockades VINCI Airports: passenger numbers up in most of the airports, above 2019 overall – High level of operating earnings VINCI Hi
Slide 5: Data in € million
Data in € million (unless otherwise specified) 5 * Cash flow from operations before tax and financing costs
Slide 6: H1 2024 revenue contribution and change
€14.9 bn €10.8 bn +3% +13% €2.3 bn +0.5% €1.3 bn +6% €1.9 bn -6% €1.9 bn -4% €0.6 bn -22% H1 2024/H1 2023 change Contribution to H1 2024 revenue H1 2024/H1 2023 change 6
Slide 7: VINCI Autoroutes key takeaways
Key takeaways ◼ H1 2024 traffic levels down 1.0%, mainly impacted by intermittent protesters blockades* and, to a lesser extent, bad weather conditions** – LV -0.8% – HV -2.3%, also adversely affected by one fewer working day in H1 24 vs H1 23 ◼ Adjusted from these effects, traffic levels would have
Slide 8: VINCI Airports key takeaways
Key takeaways ◼ Q2 24 traffic: +8.2% vs Q2 23, +1.8% vs Q2 19: – Growth in passenger numbers, boosted by airlines seats capacity and dynamic international routes Portugal – Traffic improvement in almost all the 14 countries of the UK worldwide VINCI Airports’ network – Good performance at both Budap
Slide 9: VINCI Highways key takeaways
Key takeaways ◼ Overall, traffic levels up 3%* vs H1 2023 ◼ A major acquisition in the US: – Northwest Parkway 14-km section of the Denver ring road (Colorado) – First concession with traffic risk of VINCI Highways in the US – High-quality asset: very long duration, robust regulatory framework, stro
Slide 10: Order intake at €33.9 bn
VINCI order intake at €33.9 bn, +9% yoy fuelled by several large contracts won year-to-date and firm activity levels in flow business By business line (in € billion) By geographical area (in € billion) 33.9 33.9 31.2 31.2 26.4 5.4 26.4 5.3 12.6 3.2 12.4 11.5 11.1 11.3 9.2 13.2 15.3 17.0 9.8 14.0 14.
Slide 11: VINCI Energies key takeaways
Revenue change vs H1 23 and split by geographical area France Key takeaways +3% ◼ Revenue up vs H1 2023 (+5% actual, +4% lfl), activity up for each one of the 4 business lines* – France revenue up 3% (+2% lfl), despite high base for comparison (strong H1 23 notably against the backdrop of the Intern
Slide 12: Cobra IS key takeaways
Revenue change vs H1 23 and split by geographical area Key takeaways Spain ◼ €3.3 bn revenue, up 8.0% vs H1 2023 (+7.5% lfl) +19% – Spain revenue up 19% (+18% lfl), driven by good momentum in flow business Outside – Outside Spain revenue down 2% (actual and lfl), with a Spain stability in Q2, due to
Slide 13: Solar PV projects at end of June 2024
At the end of June 2024 Solar PV Brazil Solar PV 100% 95% 100% Spain Brazil 66% 34% Portugal 5% FY 22 FY 23 FY 22 FY 23 H1 24 H2 24+ 13 * Estimated amount
Slide 14: VINCI Construction key takeaways
Key takeaways ◼ Revenue up 2.5% vs H1 2023 (+2.4% lfl) Revenue change vs H1 23 and split by geographical area – France: revenue up 4%. Activity remains driven by rehabilitation projects (both residential and non-residential) and by the construction of public buildings (notably hospitals). The France
Slide 15: VINCI Immobilier key takeaways
Key takeaways ◼ H1 24 consolidated revenue: €0.5 bn (-10% vs H1 23) – Almost stable in Q2 24 (-2.5% vs Q2 23) ◼ Housing reservations in France up 36% vs H1 23, driven by block sales to social institutions and -to a lesser extent – by a return of individual investors. ◼ Implementation of the redundan
Slide 16: H1 2024 financial data
H1 2024 financial data Christian Labeyrie Executive Vice President and Chief Financial Officer 2024 FIRST HALF RESULTS VINE!
Slide 17: Total H1 2024 VINCI Group revenue
* H1 2024 €3,079 m €2,259 m €9,551 m €3,306 m €15,288 m €506 m revenue vs H1 2023 +€107 m +€232 m +11.4% +€429 m +4.7% +€245 m, +8.0% +€373 m +2.5% €(54) m o/w VINCI Airports: +€252 m, +14.1% Organic Scope FX Organic Scope FX Organic Scope FX €33,775 m Organic Scope FX +0.2% (0.0)% (9.7)% €32,365 m
Slide 18: Total H1 2024 VINCI Group revenue
H1 2024 revenue / €14,855 m / 44% €18,920 m / 56% Group contribution vs H1 2023 +€477 m +3.3% +€933 m +5.2% Organic Scope Organic Scope FX €33,775 m +0.8% +0.1% €32,365 m +0.2% +4.3% +3.2% Total H1 2024 VINCI Group revenue €33,775 m +€1,410 m vs H1 2023 +4.4% +3.8% +0.5% +0.1% Organic Scope FX 18
Slide 19: VINCI Group Ebit €3,871 million
VINCI Group Ebit: €3,871 million (+322 vs H1 23, ie +9.1%) Ebit margin: 11.5% (+50 bp vs H1 23) -97 +227 1,640 1,543 1,007 +48 780 671 623 +25 55.2% 50.1% 49.6% +27 43.8% 299 324 6.8% 7.0% 230 257 * - * 2.1% 7.5% 7.8% 2.0% (16) (16) (2.8)% (3.2)% 19 (Ebit in € million and Ebit margin as % of revenue
Slide 20: Operating income from ordinary activities to net income
(in € million) H1 2024 H1 2023 Δ 2024/2023 Δ (€m) Operating income from ordinary activities (Ebit) 3,871 3,549 +9.1% +322 % of revenue 11.5% 11.0% Share-based payment expense (IFRS 2) (314) (260) Profit/loss of equity-accounted cos. & miscellaneous 155 104 Recurring operating income 3,712 3,393 +9.4
Slide 21: Free cash flow and net financial debt
(23.4) Free cash flow: €361 m vs €261 m in H1 2023 Dividends/Share (16.1) buyback & miscellaneous Acquisitions / (1.9) Disposals Capex 1 Interests & taxes (5.7) EBITDA (2.5) Δ Working capital paid 5.7 requirement (1.5) (1.3) Net financial debt Net financial debt at 31 Dec. 2023 Concessions Energy +
Slide 22: Free cash flow mainly generated in H2
7,000 6,000 5,000 4,000 in € million 3,000 2,000 1,000 0 -1,000 H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 Full-year FCF H1 FCF … but free cash flow is mainly generated in H2
Slide 23: Capital employed
Δ 30 Jun. 24 / 30 Jun. 23 Non-current assets – Concessions 50,292 43,955 44,091 +6,201 Non-current assets – Energy, Construction and misc. 25,032 24,074 23,127 +1,905 WCR, provisions and other current assets & liabilities (13,760) (15,176) (10,952) -2,808 Capital employed 61,565 52,853 56,266 +5,298
Slide 24: Solid credit rating and liquidity
Solid credit rating Substantial liquidity and solid credit rating A- Outlook stable High level of liquidity Confirmed for VINCI in July 2024 18.5 A3 Outlook stable 15.0 Confirmed for VINCI in June 2024 10.5 -4.0 6.5 Financial operations in good conditions In H1 2024, VINCI SA has issued €1.2 bn of d
Slide 25: Optimising the average cost of debt
Optimising the average cost of debt in a challenging environment Breakdown of debt by currency Cost of gross financial debt over the past 5 years (closing rate) 22% Dec23 61% 30 June £ Dec20 Dec21 Dec22 2024 € 7% $ Dec23 3% MXN Dec22 2% PEN Dec20 Dec21 5% other currencies Dec23 Dec22 Dec20 Dec21 Dec
Slide 26: Outlook and strategy
Outlook and strategy Xavier Huillard Chairman and Chief Executive Officer 2024 FIRST HALF RESULTS VINE!
Slide 27: VINCI Autoroutes traffic
VINCI Autoroutes - Rolling twelve-month traffic over 10 years H1 2024 VINCI Autoroutes traffic CAGR Q2 2024/ 130 Q2 2014 Total 125 HV +2.0% Δ H1 2024/H1 2023 -1.0% -0.8% -2.3% 120 Total +1.3% 115 LV +1.2% Of which, mainly: 110 French GDP * +1.1% 105 100 ASF -1.4% -1.0% -3.0% 95 90 Escota +1.3% +1.2%
Slide 28: VINCI Airports passenger numbers vs 2019
Change in VINCI Airports monthly passenger numbers (vs. 2019) 40% 20% VINCI Airports +1.5% Dominican 0% Republic +25% -20% Portugal +18% -40% Mexico +12% -60% UK -6% -80% Japan -9% -100% France -12% 2020 2021 2022 2023 2024 VINCI Airports Aerodom (Dom. Rep.) OMA (Mexico) ANA (Portugal) UK France Jap
Slide 29: International accounts for 68% of the order book
International accounts for 68% of the order book, of which: • Europe excl. France: 45% • Rest of world: 23% By business line (in € billion) By geographical area (in € billion) 67.3 13.8 67.3 61.5 61.4 61.5 61.4 16.4 29.3 13.3 14.4 21.2 19.2 20.0 16.3 9.9 14.7 14.3 25.2 25.6 30.3 33.6 32.7 34.6 13.0
Slide 30: 2024 outlook by business line
VINCI Autoroutes: traffic levels stable VINCI Energies: VINCI Construction: compared to those seen in 2023 ▪ Further organic revenue growth but lower than in 2023 ▪ Business levels at least equal to those ▪ Operating margin slightly higher than in 2023 (7.0%) of 2023 VINCI Airports: ▪ Further improv
Slide 31: Acquisitions and strategic developments
June 2024: closing of the acquisition of a 50.01% H1 2024: 15 bolt-on acquisitions completed ( ~ €140 m of full-year revenue) stake in Edinburgh airport (14.4 mpax in 2023, freehold asset) in Scotland for £1.3 bn* June 2024: closing of the acquisition of a 20% stake in the Budapest airport concessio
Slide 32: 2024 interim dividend per share
2024 interim dividend per share 15 October 2024 Ex-date (all-cash) 17 October 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 1.84 Interim dividend Special dividend linked to the disposal of VINCI Park 0.79 1.00 1.05 1.05 0.55 0.57 0.63 0.69
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Slide 34: Appendices
Appendices 2024 FIRST HALF RESULTS VINE!
Slide 35: Financial data
Financial data as of June 30, 2024 2024 FIRST HALF RESULTS VINE!
Slide 36: Total revenue H1
Δ 2024/2023 in € million Concessions* 5,337 4,998 +6.8% +5.8% VINCI Autoroutes 3,079 2,971 +3.6% +3.6% VINCI Airports 2,033 1,781 +14.1% +11.8% VINCI Highways 183 161 +13.7% +7.1% Other concessions** 43 85 -49.8% -49.9% VINCI Energies 9,551 9,122 +4.7% +3.6% Cobra IS 3,306 3,061 +8.0% +7.5% VINCI Co
Slide 37: Total revenue Q2
Δ 2024/2023 in € million Concessions* 3,316 3,238 +2.4% +2.4% VINCI Autoroutes 3,079 2,971 +3.6% +3.6% VINCI Airports 197 183 +8.0% +8.0% Other concessions** 40 84 -51.9% -51.9% VINCI Energies 4,101 3,990 +2.8% +2.3% Cobra IS 24 22 +5.9% +5.9% VINCI Construction 7,090 6,824 +3.9% +3.9% VINCI Immobil
Slide 38: Total revenue international
Δ 2024/2023 in € million Concessions* 2,021 1,761 +14.8% +11.8% VINCI Airports 1,835 1,598 +14.8% +12.2% VINCI Highways 183 161 +13.7% +7.1% Other concessions** 2 1 n.s. n.s. VINCI Energies 5,450 5,131 +6.2% +4.6% Cobra IS 3,283 3,039 +8.0% +7.5% VINCI Construction 8,198 8,090 +1.3% +1.1% VINCI Immo
Slide 39: Ebitda
in € million Concessions 3,586 67.2% 3,472 69.5% +114 1 o/w VINCI Autoroutes 2,228 72.4% 2,280 76.7% -52 o/w VINCI Airports 1,264 62.2% 1,083 60.8% +181 o/w VINCI Highways 92 50.4% 80 49.7% +12 VINCI Energies 795 8.3% 726 8.0% +69 Cobra IS 328 9.9% 297 9.7% +31 VINCI Construction 651 4.3% 602 4.0% +
Slide 40: VINCI Group Ebitda €5,673 million
VINCI Group Ebitda: €5,673 million (+364 vs H1 23) Ebitda margin: 16.8% (+40 bp vs H1 23) -52 2,280 2,228 +181 1,264 1,083 +69 +49 795 726 76.7% 72.4% 651 +31 602 62.2% 60.8% 8.3% 297 328 8.0% 4.3% +2 4.0% 9.7% 9.9% (0) 2 (0.1)% 0.3% (Ebitda in € million and Ebitda margin as % of revenue) 40
Slide 41: Ebit
in € million Concessions 2,575 48.2% 2,447 49.0% +128 VINCI Autoroutes 1,543 1 50.1% 1,640 55.2% -97 VINCI Airports 1,007 49.6% 780 43.8% +227 VINCI Highways 42 23.0% 22 13.6% +20 Other concessions** (17) 5 -22 VINCI Energies 671 7.0% 623 6.8% +48 Cobra IS 257 7.8% 230 7.5% +27 VINCI Construction 32
Slide 42: Cash flows from operating activities and free cash flow
in € million Ebitda 5,673 5,309 11,964 Change in WCR* and current provisions (1,314) (1,952) 1,463 Income taxes paid (962) (1,202) (2,288) 1 Net interest paid (593) (313) 1 (802) Dividends received from companies accounted for under the equity method 72 66 110 Cash flows from operating activities (e
Slide 43: Change in net financial debt
in € million Free cash flow (after CAPEX) 361 261 6,628 Net financial investments and other cash flows* (5,656) (651) (974) Cash flow before movements in share capital (5,295) (389) 5,655 Share capital increases and other operations 444 573 707 Dividends (incl. to non-controlling interests) (2,259)
Slide 44: Operating CAPEX
in € million Concessions 169 77 +92 229 VINCI Autoroutes 14 11 +3 21 VINCI Airports* 143 62 +82 201 Other concessions** 12 5 +7 7 VINCI Energies 125 131 -5 277 1 Cobra IS 704 126 +578 625 VINCI Construction 451 470 -19 1,010 VINCI Immobilier and holdings 5 10 -6 17 Purchases of tangible and intangib
Slide 45: Net growth CAPEX in concessions and PPPs
in € million Concessions 581 510 +71 1,033 VINCI Autoroutes 336 288 +49 585 Of which: ASF 161 102 +59 209 Escota 107 73 +34 177 Cofiroute 65 107 -43 190 VINCI Airports 273 187 +86 391 Other concessions* (27) 36 -63 57 VINCI Energies (1) (0) -1 (1) Cobra IS 185 75 +110 127 VINCI Construction 9 (2) +1
Slide 46: Net financial debt
Of which Of which Of which in € million external external external net debt net debt net debt Concessions (31,622) (20,249) (28,734) (18,761) (29,967) (19,436) VINCI Autoroutes (16,102) (11,611) (16,533) (12,323) (16,374) (12,381) VINCI Airports (10,954) (7,538) (8,781) (5,551) (9,434) (6,246) VINCI
Slide 47: Debt maturity schedule
5,000 4,500 4,000 3,500 3,000 € million 2,500 2,000 1,500 1,000 500 0 Holdings & misc. Groupe ASF Cofiroute Arcour Arcos VINCI Airports Other concessions * Concessions: 6.8 years - Holdings and other divisions: 4.7 years 47
Slide 48: Debt nominal amount and average rate
Nominal amount in € million 704 2,860 4,354 3,120 3,171 2,810 Average rate* 6.81% 3.41% 5.11% 3.82% 4.80% 4.89% * After hedging 48
Slide 49: Gross financial debt fixed and floating rates
Net cash non representative of year-end position due to the FCF seasonality inherent to VINCI’s businesses Gross financial debt breakdown between fixed and floating rates (in € billion) 31.9 28.6 29.3 27.9 27.8 16.2 11.3 14.5 16.2 16.3 51% 41% 50% 12.0 58% 57% * 10.2 12.3 5.9 7.9 16.4 14.8 15.7 11.8
Slide 50: Other information
Other information 2024 FIRST HALF RESULTS VINE!
Slide 51: Social, workforce-related and environmental commitment
A sustainable economic project is impossible without an ambitious social, workforce-related and environmental commitment. 51
Slide 52: 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 53: CDP ratings and climate 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 53
Slide 54: 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 55: 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 56: Revenue by geography 2013-2023
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 56
Slide 57: Group revenue, Ebitda and ROI by business line
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 58: 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 59: 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 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: Balanced business model: long and short cycles
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: Business line profiles
Business line profiles 2024 FIRST HALF RESULTS VINE!
Slide 64: VINCI Concessions revenue and Ebitda margin
Revenue (€bn) Ebitda margin 4% 11% France Portugal 11% €10.9 bn UK 10% 64% Americas RoW 64
Slide 65: Division share of 2023 revenue
6% 65 = % of the division’s 2023 revenue
Slide 66: Capex forecast Airports and Autoroutes
1,800 1,600 1,400 1,200 VINCI Airports 1,000 (incl. London Gatwick) 800 600 VINCI Autoroutes 400 200 0 * Forecast as of 30 June 2024 and including fully consolidated assets only. Capex related to Edinburgh airport (whose acquisition has been closed on 25 June 2024) not included. 66
Slide 67: VINCI Airports traffic by country
Portugal (ANA) 32,365 +5.2% +17.9% o/w Lisbon 16,718 +5.3% +14.4% United Kingdom 30,378 +9.4% (6.1)% o/w London Gatwick 19,917 +7.7% (10.4)% Mexico 12,368 (1.8)% +11.6% o/w Monterrey 6,090 (0.2)% +15.2% France 8,939 +7.8% (10.5)% o/w ADL (Lyon) 5,051 +5.9% (11.3)% Cambodia 2,317 +18.1% (38.7)% USA*
Slide 68: VINCI Autoroutes
VINCI Autoroutes 2024 FIRST HALF RESULTS VINCI
Slide 69: 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 70: 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 71: VINCI Airports
VINCI Airports 2024 FIRST HALF RESULTS VINE! “”
Slide 72: VINCI Airports platforms and countries
platforms in countries (*) As of 30 June 2024 72
Slide 73: 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 73
Slide 74: 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 UK (100% Gatwick + Belfast) 3% 8% 2% 7% 5% 7% Portugal (ANA) 31% 29% 9% Revenue 6% * Mexico (OMA) Ebitda €3,947 m €2,495 m France 16% 19% Dom. Rep. (Aerodom) 29% Brazil 28% Rest of world & misc. 74
Slide 75: Passenger breakdown 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 75
Slide 76: Airport portfolio: UK, Portugal, Japan, Chile, Mexico
London Gatwick Freehold 46.6 40.9 - 50% Yes Full consolidation UK Edinburgh Airport Freehold 14.7 14.4 - 50% Yes Full consolidation 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
Slide 77: Airport portfolio: USA, Brazil, Serbia, Hungary
4 airports: Hollywood Burbank Airport in California, Management USA 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 7.3 2047 100% Yes Full consolidation Brazil 7 airports in the North R
Slide 78: VINCI Railways and VINCI Stadium
VINCI Railways VINCI Stadium 2024 FIRST HALF RESULTS VINCI “”
Slide 79: VINCI Highways equity invested and debt
661 479 319 309 235 Equity invested Net financial debt 47.8% 48.5% 56.7% 41.8% 42.9% €4.1 bn € 4.6 bn At 30 Jun. 2024 At 30 Jun. 2024 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 80: Highways portfolio: Germany, UK, Greece
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 81: Tunnels, bridges and ETC concessions
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 82: 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 83: 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 84: VINCI Energies
VINCI Energies 2024 FIRST HALF RESULTS VINE! “”
Slide 85: 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 86: VINCI Energies businesses and services
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 87: Cobra IS
2024 FIRST HALF RESULTS VINE!
Slide 88: Cobra IS: industrial engineering and energy
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 89: 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 90: Delivered and announced projects
* ** * Delivered in 2023 ** Contract announced in July 2024, not in order book at the end of June 2024 90
Slide 91: VINCI Construction
VINCI Construction 2024 FIRST HALF RESULTS VINCI “”
Slide 92: France's leading construction company
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 93: 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 94: 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 94
Slide 95: VINCI Immobilier
2s VINCI Immobilier 2024 FIRST HALF RESULTS VINCI
Slide 96: 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 97: Division share of 2023 revenue
XX % = % of the division’s 2023 revenue 97
Slide 98: Notes
Notes 2024 FIRST HALF RESULTS VINE! “”
Slide 99: Notes
Notes 2024 FIRST HALF RESULTS VINE! “”
Slide 100: Agenda and investor contacts
Agenda 27 VINCI Autoroutes and VINCI gregoire.thibault@vinci.com boris.valet@vinci.com Airports traffic in July 2024 +33 1 57 98 63 84 +33 1 57 98 62 84 17 VINCI Autoroutes and VINCI Airports traffic in August 2024 celine.louvet@vinci.com marie.richard@vinci.com 15 Q3 2024 VINCI Airports traffic +33