Vinci SA · EURONEXT:DG
Vinci SA — Q1 2023 Earnings Presentation
86 slides from Vinci SA's earnings presentation, April 2023
Slide 1: First quarter 2023 highlights
First quarter 2023 highlights Acquisition of a controlling interest in VIA 40 Express, concession company of the Bogotá-Girardot motorway (Colombia)
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: Q1 2023 highlights
VINCI Ws Q1 2023 highlights
Slide 4: Q1 2023 highlights
Q1 2023 highlights Very strong operational performance Energy: sharp growth in business levels and order intake at VINCI Energies and Cobra IS Construction: sustained business levels and order intake Concessions: further recovery in passenger numbers at VINCI Airports – higher traffic levels at VINC
Slide 5: Q1 2023 consolidated revenue
Q1 2023 consolidated revenue Δ 2023/2022 € in millions Q1 2023 Q1 2022 Actual Comparable Concessions * 2 206 1,779 +24.0% +14.8% VINCI Autoroutes 1 332 1,274 +4.5% +4.5% VINCI Airports 767 405 +89.2% +50.7% VINCI Highways 75 69 +8.3% -0.1% Other concessions 32 30 +7.2% +7.2% VINCI Energies 4 395 3,6
Slide 6: Q1 2023 consolidated revenue change by division
Q1 2023 consolidated revenue change by division Total VINCI Group revenue change vs Q1 2022 +16.8% +14.2% +2.8% (0.3)% +€2,155 m Organic Scope FX Real Concessions VINCI Energies Cobra IS VINCI Construction Estate €(41) m vs Q1 2022 +€427 m +24.0% +€762 m +21.0% +€263 m +21.3% +€770 m +12.9% (12.2)%
Slide 7: Q1 2023 consolidated revenue change by geographical area
Q1 2023 consolidated revenue change by geographical area Total VINCI Group revenue change vs Q1 2022 +16.8% +14.2% +2.8% (0.3)% +€2,155 m Organic Scope FX France International vs Q1 2022 +€546 m +8.8% +€1,609 m +24.3% Organic Scope Organic Scope FX €15,002 m (0.5)% +5.2% €12,847 m +0.2% +19.6% +8.5%
Slide 8: VINCI Autoroutes: Q1 2023 key takeaways
VINCI Autoroutes: Q1 2023 key takeaways Shadehouse with photovoltaic panels installed on the Port Lauragais service station of the A61 motorway (Toulouse area) ▪ Revenue: €1,332 m (+4.5% vs Q1 22) ▪ Traffic levels in Q1 23 remained on a positive trajectory (+1.5% vs Q1 22): ✓ LV traffic (+1.9% vs Q1
Slide 9: VINCI Autoroutes traffic
VINCI Autoroutes traffic Q1 2023 VINCI Autoroutes traffic VINCI Autoroutes – Rolling twelve months traffic over 10 years Total CAGR Q1 2023/ Δ Q1 2023/Q1 2022 Δ Q1 2023/Q1 2022 Δ Q1 2023/Q1 2022 130 Q1 2013 HV +2.4% 125 120 +1.5% +1.9% -0.5% Total +1.5% 115 LV +1.4% 110 Of which: 105 100 ASF +1.2% +
Slide 10: VINCI Airports: Q1 2023 key takeaways
VINCI Airports: Q1 2023 key takeaways Development of a 20 MWp solar PV plant at Lyon-Saint Exupéry airport to be commissioned in summer 2024 ▪ Revenue: €767 m (+89% vs Q1 22, +3% vs Q1 19 at constant perimeter) ▪ Strong recovery in passenger numbers* confirmed in Q1 23 (-12% vs Q1 19): ✓ Excluding A
Slide 11: Airports: continued recovery in passenger numbers
VINCI Airports: continued recovery in passenger numbers in almost all platforms of the network Q1 2023 Change in VINCI Airports monthly passenger numbers (vs. 2019) (vs Q1 2019) -12% 20% +17% 0% Mexico -20% +15% Dom. Rep. -40% +15% -60% Portugal -80% -18% France -100% -23% London Gatwick 2020 2021 2
Slide 12: Airports traffic details over Q1 2023
VINCI Airports traffic details over Q1 2023 Change Change Passenger traffic (in thousands of pax) Q1 2023 Q1 23 / Q1 22 Q1 23/Q1 19 Portugal (ANA) 12,687 +55% +15% o/w Lisbon 7,125 +58% +14% United Kingdom 8,480 +80% -23% o/w London Gatwick 7,465 +96% -23% Mexico 5,967 +30% +17% o/w Monterrey 2,802
Slide 13: Highways, VINCI Railways and VINCI Stadium: Q1 2023 key takeaways
VINCI Highways, VINCI Railways and VINCI Stadium: Q1 2023 key takeaways Key takeaways ▪ Revenue: €107 m (+8% vs Q1 22) ▪ Strait Crossing Development Inc (concessionaire of the Confederation bridge in Canada) and TollPlus (electronic toll collection services) are both fully consolidated by VINCI High
Slide 14: VINCI Energies: Q1 2023 key takeaways
VINCI Energies: Q1 2023 key takeaways Acquisition of Otera AS, a major player in energy and transportation infrastructure services in Norway ▪ Q1 23 revenue: €4,395 m (+21% vs Q1 22, +16% lfl): ✓ France revenue up 17% (+16% lfl). Performance consistent across all business sectors (industry, building
Slide 15: Cobra IS: Q1 2023 key takeaways
Cobra IS: Q1 2023 key takeaways Progress in the construction works of the Belmonte solar PV farm in Brazil ▪ Q1 23 revenue: €1,496 m (+21% vs Q1 22, +20% lfl): ✓ Spain revenue: €707 m (+26%) ✓ Outside Spain revenue: €789 m (+18% actual, +16% lfl). Strong flow business momentum in Mexico ▪ Outstandin
Slide 16: VINCI Construction: Q1 2023 key takeaways
VINCI Construction: Q1 2023 key takeaways Construction of the five-kilometre northern section of the highway that will bypass the town of Heatherbrae (NSW, Australia) ▪ Q1 23 revenue: €6,737 m (+13% vs Q1 22, +14% lfl) ✓ France revenue up 9%. In the building segment, business driven by rehabilitatio
Slide 17: Order intake as of March 31, 2023
Order intake as of March 31, 2023 Q1 2023 order intake up 24% vs Q1 2022 By business lines (in € billion) By geographical area (in € billion) 15.5 15.5 +24% +24% 2.0 12.5 +77% 12.5 1.1 7.0 6.0 +28% +27% 5.5 4.7 +33% 5.9 4.5 6.6 +13% 7.5 2.5 +1% 2.6 Q1 2022 Q1 2023 Q1 2022 Q1 2023 VINCI Construction
Slide 18: Order book at an all-time high
Order book at an all-time high and up 10% yoy, allowing VINCI’s business activities to continue being selective International accounts for 68% of the order book, of which: Europe excl. France: 39% Rest of world: 29% By business lines (in € billion) By geographical area (in € billion) +5% 60.3 +5% 60
Slide 19: VINCI Immobilier: Q1 2023 key takeaways
VINCI Immobilier: Q1 2023 key takeaways Botanic parc: a urban recycling project in Villejuif (France) which developed 565 housing units, out of which 130 for students and 54 for social housing. ▪ Consolidated revenue: €296 m (-12% vs Q1 22): ✓ Tougher market conditions for property developers, with
Slide 20: Financial policy: substantial liquidity and solid credit rating
Financial policy: substantial liquidity and solid credit rating Substantial liquidity Solid LT credit rating 19.5 14.8 S&P A- Outlook stable 9.0 * Confirmed in March 2023 6.8 ** 10.5 8.0 Moody’s A3 Outlook stable 31 March 2022 31 March 2023 Confirmed in May 2022 Net cash managed Unused confirmed ban
Slide 21: 2023 outlook confirmed
2023 outlook confirmed Energy VINCI Construction Concessions VINCI Energies: VINCI Construction: VINCI Autoroutes: traffic levels ▪ Further business growth ▪ Selectivity in taking on new similar to those seen in 2022 ▪ Solidification of the operating margin business ▪ Stability in business levels VI
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Slide 23: Appendices
VINCI Ws Appendices
Slide 24: VINCI's environmental ambition and 2022 performance
VINCI’s environmental ambition and 2022 performance Optimize resources Preserve natural Act for the thanks to circular Climate environments economy 2030 AMBITION 2022 PERFORMANCE 2030 AMBITION 2022 PERFORMANCE 2030 AMBITION 2022 PERFORMANCE 2.1 mt 20 mt 14 mt of recycled zero net Towards 41 sites -4
Slide 25: VINCI's ESG ratings in 2022
VINCI’s ESG ratings in 2022 42% of eligible Revenue 20% of aligned Revenue 2022 2021 2020 2019 CDP Climate A A A- A- CDP Water Security B B B B- submitted CDP Forest C C C not scored Transparency score: 98% « Best in class » in 2022 (in Heavy Construction sector) 25
Slide 26: VINCI's social performance in 2022
VINCI’s social performance in 2022 Aiming for all-round performance and sharing the benefits of our performance with our stakeholders 4,000 72% 22.2% 5,762,283 More than 90% Long-term unemployed people of female managers in hours of training provided in 2022 of all employees can of companies without
Slide 27: Socio-economic footprint of VINCI's activities in France
Socio-economic footprint of VINCI’s activities in France by Utopies© 27
Slide 28: VINCI's strategy
VINCI’ strategy Long cycles/significant equity investments Short cycles/low equity investments CONCESSIONS CONSTRUCTION & ENERGY ✓ Extension of the portfolio’s average maturity ✓ Prioritise margin over revenue growth ✓ Strengthening of the group’s footprint in mobility ✓ Rigorous risk monitoring / S
Slide 29: Dividend per share
Dividend 25 April 2023 2022 dividend per share approved during the €4.00 Ex-date Shareholders’ General Meeting of 13 April 2023 per share 27 April 2023 Payment date (all cash) 2022 pay-out ratio: 53.5% 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 Inter
Slide 30: Shareholder base at 31 December 2022
Shareholder base at 31 December 2022 Rest of the World Rest of Europe 14.1% 5.9% Individual investors 9.5% United Kingdom 15.7% Employees Institutional investors 589.4 m 9.9% 72.8% shares 3.3% Qatar Holding LLC 4.4% Treasury shares North America 23.9% 13.2% France Shareholding structure* ✓ Almost 1,
Slide 31: Financial Data
Financial Data As of March 31, 2023
Slide 32: Q1 2023 consolidated revenue - France
Q1 2023 consolidated revenue - France Δ 2023/2022 € in million Q1 2023 Q1 2022 Actual Like-for-like * Concessions 1,450 1,375 +5.5% +5.5% VINCI Autoroutes 1,332 1,274 +4.5% +4.5% VINCI Airports 86 71 +22.2% +22.2% ** Other Concessions 32 30 +6.8% +6.8% VINCI Energies 1,993 1,703 +17.0% +16.1% Cobra
Slide 33: Q1 2022 consolidated revenue - International
Q1 2022 consolidated revenue - International Δ 2023/2022 € in million Q1 2023 Q1 2022 Actual Like-for-like * Concessions 756 404 +87.1% +46.3% VINCI Airports 681 335 x2.0 +56.8% VINCI Highways 75 69 +8.3% -0.1% ** Other Concessions 0 0 VINCI Energies 2,402 1,931 +24.4% +15.4% Cobra IS 1,488 1,226 +2
Slide 34: Other information
VINCI Ws Other information
Slide 35: VINCI 2022 key figures
VINCI 2022 key figures €61.7 bn >120 ~4,000 ~270,000 >300,000 €55 bn Group revenue countries where number of employees estimated market cap. at (incl. holdings) VINCI operates business units number of 31 December contracts 2022 Concessions Energy Construction Real estate Revenue €6.0 bn €3.2 bn €16.
Slide 36: Strong free cash flow generation and high cash conversion
Strong free cash flow generation and high level of cash conversion FCF Net income Free cash flow generation 2013 to 2022: €34.9 bn total 10-year CAGR 10-year CAGR +11% +8% +17% 5.3 5.4 FCF: CAGR 4.2 4.3 4.0 3.2 3.3 3.0 2.9 3.0 2.7 2.6 2.5 2.5 2.5 2.2 2.2 2.0 2.0 1.2 2013 X X2 2014 X3 X4 2015 X5 X6 2
Slide 37: A growing international presence
A growing international presence with, for the first time, more than 50% revenue generated outside France in 2022 2012 revenue geographic breakdown 2022 revenue geographic breakdown 13% 4% 5% 4% 6% 5% 3% 45% €38.6 bn 4% €61.7 bn 19% INCREASED INTERNATIONAL 63% EXPOSURE 29% 2012 revenue CAGR 2012/202
Slide 38: Cobra IS: focus on renewable energy projects
Cobra IS: focus on renewable energy projects BELMONTE (BRAZIL) – UNDER CONSTRUCTION ASSETS CLOSE TO THE READY-TO-BUILD (RTOB) STAGE FY22: €0.1 bn 570 Mid-23 1,438 €1.1 bn MW RtoP* MW Capex** To go**: €1.0 bn 100% FY22 : €278 m Solar PV Breakdown by geography €363 m Capex** 44% To go**: €85 m Brazil
Slide 39: ROCE now back to pre-covid levels, ROE at its highest
ROCE now back to pre-covid levels, ROE at its highest level Covid-19 period 18.6% 16.7% 17.0% 12.4% 9.3% 9.0% 9.2% 6.1% 6.7% 3.3% 2018 2019 2020 2021 2022 ROCE ROE Return on capital employed (ROCE) is net operating income after tax excluding non-recurring items (NOPAT), divided by the average capita
Slide 40: Financial Data
Financial Data As of December 31, 2022
Slide 41: Consolidated revenue
Consolidated revenue Δ 2022/2021 in € million FY 2022 FY 2021 Actual Like-for-like Concessions 9,162 7,046 +30.0% +27.9% VINCI Autoroutes 6,003 5,550 +8.2% +8.2% VINCI Airports 2,679 1,188 +125.6% +117.1% VINCI Highways 328 212 +54.7% +24.4% Other concessions** 151 97 +56.4% +53.8% VINCI Energies 16
Slide 42: International: 55% of FY 2022 revenue
International: 55% of FY 2022 revenue France €27.9 bn +6% 45% Central & North America Eastern Europe +9% +26% €2.5 bn €4.9 bn 4% 8% Western Europe (excl. France) +52% €17.6 bn Asia/Middle East/ 29% Oceania +43% €3.6 bn Central & Africa 6% South America +175% +12% €1.7 bn €3.3 bn 5% 3% FY 2022/FY 202
Slide 43: Consolidated revenue - France
Consolidated revenue - France Δ 2022/2021 in € million FY 2022 FY 2021 Actual Like-for-like Concessions 6,485 5,867 +10.5% +10.5% VINCI Autoroutes 6,003 5,550 +8.2% +8.2% VINCI Airports 334 220 +51.4% +51.4% Other concessions** 148 96 +54.2% +54.2% VINCI Energies 7,366 6,698 +10.0% +8.9% Cobra IS 37
Slide 44: Consolidated revenue - International
Consolidated revenue - International Δ 2022/2021 in € million FY 2022 FY 2021 Actual Like-for-like Concessions* 2,676 1,180 +126.9% +111.4% VINCI Airports 2,346 967 +142.5% +131.7% VINCI Highways 328 212 +54.7% +24.4% Other concessions** 3 1 VINCI Energies 9,382 8,399 +11.7% +7.0% Cobra IS 5,483 - V
Slide 45: Ebit by business line
Ebit - operating income from ordinary activities by business line in € million FY 2022 % of revenue* FY 2021 % of revenue* Δ 2022/2021 Concessions 4,171 45.5% 2,683 38.1% +1,487 VINCI Autoroutes 3,127 52.1% 2,841 51.2% +285 VINCI Airports 983 36.7% (206) (17.3%) +1,189 VINCI Highways 47 14.2% 24 11.
Slide 46: Income statement
Income statement (in € million) FY 2022 FY 2021 Δ 2022/2021 Operating income from ordinary activities (Ebit) 6,824 4,723 +2,101 % of revenue 11.1% 9.6% Share-based payment expense (IFRS 2) (356) (288) Profit/loss of equity-accounted cos. & miscellaneous 14 29 Recurring operating income 6,481 4,464 +
Slide 47: Ebitda
Ebitda in € million FY 2022 % of revenue* FY 2021 % of revenue* Δ 2022/2021 Concessions 6,200 67.7% 4,676 66.4% +1,524 o/w VINCI Autoroutes 4,419 73.6% 4,116 74.2% +303 o/w VINCI Airports 1,580 59.0% 385 32.4% +1,196 o/w VINCI Highways 147 44.7% 106 49.9% +41 VINCI Energies 1,426 8.5% 1,259 8.3% +16
Slide 48: Cash flow from operations before tax and financing costs (Ebitda)
Cash flow from operations before tax and financing costs (Ebitda) VINCI Group Ebitda: €10,215 million (+2,332 vs FY 21) Ebitda margin: 16.6% (+60 bp vs FY 21) VINCI VINCI VINCI VINCI VINCI Cobra IS Autoroutes Airports Energies Construction Immobilier +303 4,419 4,116 +166 +60 +1,196 1,647 1,707 1,58
Slide 49: Cash flow statement (1/2)
Cash flow statement (1/2) in € million FY 2022 FY 2021 Ebitda 10,215 7,884 Change in WCR* and current provisions 392 1,579 Income taxes paid (1,603) (1,213) Net interest paid (563) (557) Dividends received from equity-consolidated companies 92 112 Cash flows from operating activities (before other l
Slide 50: Cash flow statement (2/2)
Cash flow statement (2/2) in € million FY 2022 FY 2021 Free cash flow (after CAPEX) 5,433 5,282 Net financial investments and other cash flows (2,677) (4,916) * Cash flow before movements in share capital 2,757 366 * Share capital increases and other operations 438 721 Dividends (1,892) (1,558) Shar
Slide 51: Operating CAPEX
Operating CAPEX in € million FY 2022 FY 2021 Δ 2022/2021 Concessions 123 77 +47 VINCI Autoroutes 21 23 -3 VINCI Airports* 94 44 +51 Other concessions** 8 9 -1 VINCI Energies 214 182 +32 Cobra IS 465*** - VINCI Construction 900 758 +142 VINCI Immobilier and holdings 65 198 -133 Purchases of tangible
Slide 52: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs in € million FY 2022 FY 2021 Δ 2022/2021 Concessions 725 841 -116 VINCI Autoroutes 578 677 -99 Of which: ASF 227 230 -4 Escota 144 120 +24 Cofiroute 200 224 -24 Arcos 7 95 -88 VINCI Airports 152 163 -11 Other concessions* (5) 1 -5 VINCI Energies (2) (2) +0 ** Cob
Slide 53: Consolidated balance sheet
Consolidated balance sheet (in € million) 31 Dec. 2022 31 Dec. 2021 * Non-current assets – Concessions 42,881 40,437 Non-current assets – Energy, Construction and other 22,655 20,192 WCR, provisions and other current assets & liabilities (13,071) (11,548) Capital employed 52,465 49,081 Equity (29,40
Slide 54: Net financial debt by business line
Net financial debt by business line Of which Of which in € million 31 Dec. 2022 external 31 Dec. 2021 external net debt net debt Concessions (31,735) (18,880) (32,693) (19,664) VINCI Autoroutes (16,985) (12,578) (18,008) (13,296) VINCI Airports (11,131) (5,674) (11,723) (5,860) VINCI Highways (2,271
Slide 55: Decrease in net financial debt during FY 2022
Decrease in net financial debt during FY 2022 (€1.0 bn) (in € billions) Free cash flow: €5,433 m vs €5,282 m in FY 2021 (19.5) * (18.5) Dividends & Miscellaneous Acquisitions / (1.8) Disposals Net capex** (2.7) EBITDA ∆ Working capital Interests & (3.1) 10.2 requirement taxes paid 0.4 (2.1) Net fina
Slide 56: Financial policy: optimising the financing
Financial policy: optimising the financing despite a more challenging environment / tightening of borrowing conditions Cost of gross financial debt over the past 5 years Cost of gross financial debt over the past 5 years (average rate) (closing rate) 3.7% 2.3% 2.4% 2.3% 2.1% 2.5% 2.2% 1.9% 1.8% 1.8%
Slide 57: Maturity of LT gross financial debt
Maturity of LT gross financial debt Average maturity of LT gross financial debt (€27.8 bn) as of 31 December 2022: 6.9 years* 3,000 2,500 2,000 € Million 1,500 1,000 500 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 > 2037 Groupe ASF Cofiroute Arcour Arcos VINCI Airpor
Slide 58: Average cost of future debt repayments
Average cost of future debt repayments 2023 2024 2025 2026 2027 2028 Nominal amount in € million 1,976 1,625 2,203 2,297 2,605 2,725 Average rate* 4.65% 3.59% 2.44% 4.90% 2.72% 3.58% * After hedging 58
Slide 59: 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 28.6 27.9 2
Slide 60: Business line profiles
VINCI Ws Business line profiles
Slide 61: Concessions Profile
Concessions Profile Revenue and Ebitda margin over the last 5 years 2022 revenue by geographical area 8.5 9.2 6% 2% 7.3 7.0 11% 5.8 France Portugal 68.4% 67.8% 10% €9.2 bn 66.4% 67.7% UK 59.8% Americas 71% RoW 2018 2019 2020 2021 2022 Revenue (€bn) EBITDA margin 66% 29% VINCI HIGHWAYS, VINCI RAILWAY
Slide 62: Concessions capex forecasts
Concessions capex forecasts* In € million 1,800 1,600 1,400 1,200 VINCI Airports 1,000 (incl. London Gatwick and OMA) 800 VINCI Autoroutes 600 400 200 0 2023e 2024e 2025e * As of 31 December 2022 and including fully consolidated assets only 62
Slide 63: VINCI Autoroutes
VINCI Ws VINCI Autoroutes
Slide 64: 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 65: Autoroutes - contractually CPI-linked tariffs
VINCI Autoroutes - contractually CPI-linked tariffs Contractual framework of toll increases (LVs) ASF Escota Cofiroute Intercity Network 2023* 4.82%** 4.68% 4.53% After 2023 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 2023 **
Slide 66: VINCI Airports
VINCI Ws VINCI Airports
Slide 67: 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 numbers1 (millions of pax.) 65* platforms in 12* countries 255 210 2 195 23 157 187 132 77 86 69 43 47 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1 Data at 100%
Slide 68: VINCI Airports in 2022
VINCI Airports in 2022 Revenue and Ebitda margin over the past 5 years Traffic breakdown by segment* (FY 2019) 2.6 2.7 1% Tourism/Leisure 1.6 56% VFR (Visiting Friends & Relatives) 1.2 21% 58.6% 55.7% 1.0 59.0% Business 32.4% Other 14.7% 22% 2018 2019 2020 2021 2022 * Estimates based on internal sur
Slide 69: Airports network (1/2)
VINCI Airports network (1/2) VINCI AIRPORTS End of VINCI Traffic Country Name Description mpax in 2019 mpax in 2022 Consolidation concession share risk London Gatwick Freehold 46.6 32.8 - 50% Yes Full consolidation UK Belfast International Freehold 6.3 4.8 2993 100% Yes Full consolidation ANA 59.1 5
Slide 70: Airports network (2/2)
VINCI Airports network (2/2) VINCI AIRPORTS End of VINCI Traffic Country Name Description mpax in 2019 mpax in 2022 Consolidation concession share risk Orlando-Sanford Concession 3.3 2.8 2039 100% Yes Full consolidation USA 4 airports : Hollywood Burbank Airport in California, Atlantic Management Ci
Slide 71: Airports FY 2022 passenger numbers
VINCI Airports FY 2022 passenger numbers Q4 2022 FY 2022 FY 2019 Change Change Change Change Passenger traffic (thousand pax) 2022 2022 2022/2021 2022/2019 2022/2021 2022/2019 Portugal (ANA) 13,710 +42% +3.6% 55,713 2.2x -5.8% 59,120 o/w Lisbon 7,417 +47% +0.6% 28,262 2.3x -9.3% 31,173 United Kingdo
Slide 72: Highways, VINCI Railways and VINCI Stadium
VINCI Highways, VINCI Railways and VINCI Stadium
Slide 73: Highways and other concessions
VINCI Highways and other concessions (VINCI Railways and VINCI Stadium) Revenue over the past 5 years Equity invested 479 (VINCI Highways + VINCI Railways) 298 319 309 235 42.6% 47.8% 48.5% 56.7% 41.8% €2.4 bn At 31 Dec. 2022 2018 2019 2020 2021 2022 Revenue (€m) EBITDA margin VINCI Highways 2022 re
Slide 74: 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 75: 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 34.2% yes Equity method France Tunnel Prado Sud 1.9 km road tunnel, Marseille 2055 58.5% yes Equity metho
Slide 76: 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 16,000 km of track 2025 70% no Equity method France Rail SEA High-Speed-Rail 302 km of high-speed rail line be
Slide 77: Non-controlling stakes in concessions
Non-controlling stakes in concessions VINCI share, based on best estimates as of 31/12/2022 Projects consolidated under the equity method Equity invested In € millions at 31/12/2022 LISEA 258 Kansai Airports (Japan) 253 Santiago Airport (Chile) 198 VIA 40 (Colombia) ** 72 Germany: A4, A5, A9, B247 a
Slide 78: Energy & Construction
VINCI Ws Energy & Construction
Slide 79: 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 2022 revenue by geographical area France Americas 16.7 3%4% Germany Africa 15.1 12.6 13.7 13.7 ~1,900 7% Scandinavia RoW Business Units Rest of Europe 44% 6.5% 6.8% 22% €16.7 b
Slide 80: Cobra IS: applied industrial engineering and specialised services
Cobra IS: a leading company in applied industrial engineering and specialised services and a global player in the energy sector 2022 Revenue and 2022 revenue by geographical area Ebit margin 0.6 GW 1.4 GW 3% 8% Spain Latin America Africa Middle East 5.5 Under construction Nearly Ready-to-Build 3%3%
Slide 81: 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 2022 revenue by geographical area * 29.3 26.3 25.1 * 3%2% 23.2 23.1 ~1,350 6% France Americas 3.7% 3.8% Business Units UK Oceania 3.2% 3.3% 16% Central & Eastern Africa 4
Slide 82: The Grand Paris Express project
The Grand Paris Express project €4.9 bn attributed to VINCI entities as of December 2022 4 new metro lines around Paris and 2 line extensions Around €36 bn 200 km 68 Automatic New stations Construction metro lines budget* Expected completion in 2030 Works by VINCI entities * source: Société du Grand
Slide 83: VINCI Immobilier
VINCI Ws VINCI Immobilier
Slide 84: Immobilier
VINCI Immobilier Revenue over the past 5 years 2022 reservations by destination 1.6 1.5 €1.7 bn 1.3 2022 managed revenue* Buy to let private 1.2 investors 1.1 34% 41% Social, Institutional Presence in 6,059 24 Cities in France 2018 2019 2020 2021 2022 (+ in Monaco and Poland) 12% Revenue – non resid
Slide 85: Notes
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Slide 86: IR team and agenda
IR team and agenda TEAM 16 May 2023 Grégoire THIBAULT Boris VALET VINCI Autoroutes and VINCI Airports traffic Head of investor relations Deputy head of investor relations in April 2023 gregoire.thibault@vinci.com boris.valet@vinci.com Tel: +33 1 57 98 63 84 Tel: +33 1 57 98 62 84 15 June 2023 VINCI