Vinci Sa · EURONEXT:DG
Vinci Sa — Vinci Sa Act — H1 2022 Earnings Presentation
92 slides from Vinci Sa's earnings presentation, Jul 29, 2022
Slide 1: 2022 first half results
2022 first half results 29 July 2022 Contract signed to extend by 75km the motorway Corinth-Patras to Pyrgos (Greece)
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: agreement for the Montpellier Western bypass
VINCI Autoroutes: agreement with the French State for the Montpellier Western bypass 3
Slide 4: VINCI Airports: 40-year concession for Cape Verde airports
VINCI Airports: 40-year concession contract for the 7 airports of Cape Verde (2.8 mPax in 2019) 4
Slide 5: VINCI Highways: acquisition of remaining 70% of TollPlus
VINCI Highways: acquisition of the remaining 70% stake in TollPlus Inc (a technology solutions provider for mobility infrastructures), now 100%-owned 5
Slide 6: VINCI Energies: Nantes University Hospital Centre contract
VINCI Energies: contract for multi-technical works at the new University Hospital Centre of Nantes (France)
Slide 7: Cobra IS: Femernbelt Tunnel contract
Cobra IS: contract to implement and maintain the electromechanical infrastructure of the Femernbelt Tunnel (Germany / Denmark)
Slide 8: VINCI Construction: Penlink project in Auckland
VINCI Construction: contract for the Penlink project in north Auckland (New Zealand) Copyright: Femern A/S 8
Slide 9: VINCI Immobilier: Hangar Y project
VINCI Immobilier: Hangar Y project, involving the remediation of 9 hectares of land and the creation of a major centre for cultural exhibitions and tourism near Meudon (France) 9
Slide 10: H1 2022 highlights
H1 2022 highlights Xavier Huillard, Chairman and CEO
Slide 11: H1 2022 highlights
H1 2022 highlights Revenue growth, higher earnings in each division VINCI Airports: stronger recovery in passenger numbers VINCI Autoroutes: traffic above pre-pandemic levels VINCI Energies and VINCI Construction: higher business levels – improvement of margins Cobra IS: good integration in line wit
Slide 12: H1 2022 Group key figures
H1 2022 Group key figures Revenue Ebit Ebitda* Free cash flow Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Δ H1 2022/H1 2019 Δ H1 2022/H1 2019 Δ H1 2022/H1 2019 Δ H1 2022/H1 2019 28,517 2,890 4,526 (281) +26% +1,291 +1,394 -662 +31% +601 +901 -596 Diluted net Net income in
Slide 13: International: 53% of H1 2022 revenue
International: 53% of H1 2022 revenue France €13.5 bn +9% 47% Central & North America Eastern Europe +9% +25% €1.0 bn €2.0 bn 4% 7% Western Europe (excl. France) +57% €8.0 bn Asia/Middle East/ 28% Oceania +34% €1.6 bn Central & Africa 6% South America +150% €0.8 bn +6% €1.6 bn 6% 3% H1 2022/H1 2021
Slide 14: Autoroutes in H1 2022
VINCI Autoroutes in H1 2022 Key takeaways Revenue Ebitda Ebitda/Revenue Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Δ H1 2022/H1 2019 § Sharp rebound in traffic compared to H1 2021 (+18% of which LV +21% and HV +4%) § H1 2022 traffic levels above those of 2019 (+2.1%) € 2,816 m € 2.1 bn 75.1% § LV +1.3%, de
Slide 15: Airports in H1 2022
VINCI Airports in H1 2022 Revenue Ebitda Ebitda/Revenue Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Key takeaways Δ H1 2022/H1 2019 Δ H1 2022/H1 2019 § Stronger recovery in passenger numbers: H1 22 pax down 36% vs H1 19 (-46% in Q1 22, -27% in Q2 22) € 1,126 m € 632 m 56.1% X3 +€635 m vs (0.9)% in H1 21 § J
Slide 16: Other concessions in H1 2022
Other concessions in H1 2022: VINCI Highways, VINCI Railways, VINCI Stadium Revenue Ebitda Ebitda/Revenue Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 € 219 m €96 m 43.9% +61% +24% vs 56.9% in H1 2021 VINCI Highways VINCI Railways VINCI Stadium 16
Slide 17: Order intake in H1 2022
Order intake in H1 2022 VINCI Construction and VINCI Energies order intake at €23.2 bn, +4% yoy fuelled by flow business Cobra IS order intake at a high level (€3.2 bn) By business line (in € billion) By geographical area (in € billion) 26.4 26.4 +18% +18% 22.8 -2% 22.4 3,2 22.8 -2% 22.4 +13% 11,3 7
Slide 18: Energies in H1 2022
VINCI Energies in H1 2022 Revenue Ebit Ebit/Revenue Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Key takeaways § Revenue up vs H1 2021 (+8% actual, +6% lfl) ü France revenue up 7% (+6% lfl) €7,755 m €507 m 6.5% +8% +€79 m vs 6.0% in H1 21 ü International revenue up 10% (+5% lfl). Increases mainly in Europe,
Slide 19: Cobra IS in H1 2022
Cobra IS in H1 2022 Key takeaways Revenue Ebit Ebit/Revenue § Good momentum in flow business – particularly in Spain, Peru, Mexico and Colombia – and in EPC* projects § 46% of revenue coming from Spain, 36% from Latin 2,668 m € €190 m 7.1% America § Start of construction works on the solar PV projec
Slide 20: Construction in H1 2022
VINCI Construction in H1 2022 Key takeaways Revenue Ebit Ebit/Revenue § Sustained business levels in flow business Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 § 66% of the order intake in H1 22 made up of contracts < €5 m § Revenue up 11% vs H1 2021 (+8% lfl) ü France: revenue up 4% €13,454 m €254 m 1.9% Fi
Slide 21: Immobilier in H1 2022
VINCI Immobilier in H1 2022 Revenue ROI* Key takeaways Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 § Consolidated revenue almost stable vs H1 2021 (-2%) despite high comps ü Revenue up 2% including the share of the Group in €726 m €37 m joint development operations -2% +€16 m ü Production continued at a bro
Slide 22: H1 2022 financial data
H1 2022 financial data Christian Labeyrie, Executive Vice-President and CFO
Slide 23: H1 2022 consolidated revenue change by division
H1 2022 consolidated revenue change by division Real Concessions VINCI Energies Cobra IS VINCI Construction Estate vs H1 2021 +€1,261 m +43.5% +€593 m +8.3% +€2,668 m +€1,303 m +10.7% €(16) m (2.1)% Organic Scope FX Organic Scope FX Scope Organic Scope FX Organic €28,517 m +0.7% +1.9% (2.1)% +8.1% €
Slide 24: H1 2022 consolidated revenue change by geographical area
H1 2022 consolidated revenue change by geographical area France International vs H1 2021 +€1,101 m +8.9% +€4,808 m +46.9% Organic Scope Organic Scope FX €28,517 m +3.2% +28.0% €22,607 m +0.5% +15.7% +1.6% excluding the impact +8.4% of the acquisition of Cobra IS Total VINCI Group revenue change H1 2
Slide 25: Ebit: improvement in each division of the Group
Operating income from ordinary activities (Ebit): improvement in each division of the Group VINCI Ebit: €2,890 million, up sharply vs H1 2021 (+€1,291 m) Ebit margin: 10.1% VINCI VINCI VINCI VINCI VINCI Cobra IS Autoroutes Airports Energies Construction Immobilier +302 vs H1 21 1,482 1,180 +79 vs H1
Slide 26: Income statement
Income statement (in € million) H1 2022 H1 2021 Δ 2022/2021 FY 2021 Operating income from ordinary activities (Ebit) 2,890 1,598 +1,291 4,723 % of revenue 10.1% 7.1% 9.6% Share-based payment expense (IFRS 2) (138) (115) (288) Profit/loss of equity-accounted cos. & miscellaneous 25 (15) 29 Recurring
Slide 27: Change in net financial debt during H1 2022
Change in net financial debt during H1 2022 (in € billions) Free cash flow: €(281) m vs €381 m in H1 2021 and €316 m in H1 2019 (22.1) (19.3) Dividends/Share Acquisitions / buy back & Capex Disposals miscellaneous Interests & (1.2) (0.7) taxes paid (1.8) EBITDA Δ Working capital (1.0) 4.5 requiremen
Slide 28: Slightly negative FCF generation in H1 2022
Slightly negative FCF generation in H1 2022, not representative of full-year performance due to seasonal effects 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 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 20
Slide 29: Consolidated balance sheet
Consolidated balance sheet (in € million) 30 Jun. 2022 31 Dec. 2021 30 Jun. 2021* Non-current assets – Concessions 40,616 40,437 40,527 Non-current assets – Energy, Construction and other 20,673 19,976 14,423 WCR, provisions and other current assets & liabilities (8,416) (11,621) (7,946) Capital emp
Slide 30: 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 17.0 14.0 9,0 6,0 S&P A- Outlook stable Confirmed for VINCI in March 2022 8,0 8,0 * 30 June 2021 30 June 2022 Moody’s A3 Outlook stable Confirmed for VINCI in May 202
Slide 31: Financial policy: optimising the average cost of debt
Financial policy: optimising the average cost of debt in a more challenging environment / tightening of borrowing conditions 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% 2.1% 58% 30 Jun. £ FY 2018 FY 2019 FY 2020 2.1% €
Slide 32: Outlook and strategy
Outlook and strategy Xavier Huillard, Chairman and CEO
Slide 33: Autoroutes: traffic above 2019 level
VINCI Autoroutes: traffic above 2019 level Change in VINCI Autoroutes quarterly traffic levels in 2020, 2021 and 2022 (vs. 2019) 10% H1 2022 traffic up 2.1% 0% vs H1 2019 -10% -20% -30% +1.3% Of -40% which: +6.3% -50% -60% Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 2020 2021 2022 LV
Slide 34: Airports: faster recovery in passenger numbers
VINCI Airports: faster recovery in passenger numbers in almost all platforms of the network Change in VINCI Airports monthly passenger numbers in 2020, 2021 and 2022 (vs. 2019) H1 2022 (vs H1 2019) -36% 20% -1% 0% Dom. Rep. -20% -13% Portugal -40% -31% France -60% -41% -80% London Gatwick -100% -68%
Slide 35: Order book up 2% yoy (excl. Cobra IS)
Order book up 2% yoy (excl. Cobra IS), allowing the Group to continue being selective in taking on new business International accounts for 68% of the order book, of which: Europe excl. France: 38% Rest of world: 29% By business lines (in € billion) By geographical area (in € billion) +7% 56.2 +7% 56
Slide 36: 2022 guidance confirmed
2022 guidance confirmed ü The good performance achieved over the first half of the year – despite geopolitical, economic and pandemic-related uncertainty - confirms VINCI outlook, which expects the net income in 2022 to be higher than the 2019 figure Concessions Energy Construction VINCI Autoroutes,
Slide 37: Interim dividend per share
Dividend 17 November 2022 2022 interim dividend per share €1.0 Payment date (all-cash) per share 15 November 2022 Ex-date Dividend per share since 2012 (in €) 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 Interim dividend 1.0 Special dividend linked to
Slide 38: Recent developments
Recent developments VINCI Airports Cobra IS ü January/February: start of operations of ü March: Belmonte project Amazonian airports, including Manaus. (a future 569.5 MW solar PV farm in Brazil) now ready-to-build. ü May: disposal of Stockholm Skavsta airport (Sweden) + agreement signed to develop a
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Slide 40: Appendices
VINCI “ Appendices
Slide 41: Financial data
Financial data At 30 June 2022
Slide 42: Consolidated revenue
Consolidated revenue Δ 2022/2021 in € million H1 2022 H1 2021 Actual Like-for-like Concessions* 4,161 2,900 +43.5% +41.5% VINCI Autoroutes 2,816 2,393 +17.7% +17.7% VINCI Airports 1,126 371 +203.4% +188.6% Other concessions** 219 136 +61.1% +48.3% VINCI Energies 7,755 7,162 +8.3% +5.6% Cobra IS 2,66
Slide 43: Consolidated revenue - France
Consolidated revenue - France Δ 2022/2021 in € million H1 2022 H1 2021 Actual Like-for-like Concessions* 3,049 2,518 +21.1% +21.1% VINCI Autoroutes 2,816 2,393 +17.7% +17.7% VINCI Airports 161 81 +99.4% +99.4% Other concessions** 72 44 +63.8% +63.8% VINCI Energies 3,525 3,305 +6.7% +5.7% Cobra IS 19
Slide 44: Consolidated revenue - International
Consolidated revenue - International Δ 2022/2021 in € million H1 2022 H1 2021 Actual Like-for-like Concessions* 1,112 383 +190.8% +170.6% VINCI Airports 965 290 +232.3% +212.6% Other concessions** 147 92 +59.8% +41.4% VINCI Energies 4,230 3,858 +9.7% +5.5% Cobra IS 2,649 VINCI Construction 7,064 6,0
Slide 45: Ebit by business line
Ebit - operating income from ordinary activities by business line in € million H1 2022 % of revenue* H1 2021 % of revenue* Δ 2022/2021 Concessions 1,899 45.6% 944 32.6% +955 VINCI Autoroutes 1,482 52.6% 1,180 49.3% +302 VINCI Airports 380 33.8% (251) (67.6%) +631 Other concessions 37 15 +22 VINCI En
Slide 46: Recurring operating income by business line
Recurring operating income (ROI) by business line % of % of in € million H1 2022 H1 2021 Δ 2022/2021 revenue* revenue* Concessions 1,877 45.1% 883 30.4% +994 VINCI Autoroutes 1,475 52.4% 1,176 49.2% +299 VINCI Airports 363 32.2% (293) (78.8%) +656 Other concessions 39 (1) +39 VINCI Energies 455 5.9%
Slide 47: Ebitda
Ebitda % of % of in € million H1 2022 H1 2021 Δ 2022/2021 revenue* revenue* Concessions 2,842 68.3% 1,879 64.8% +963 o/w VINCI Autoroutes 2,114 75.1% 1,805 75.4% +309 o/w VINCI Airports 632 56.1% (3) (0.9%) +635 VINCI Energies 618 8.0% 518 7.2% +100 Cobra IS 234 8.8% VINCI Construction 578 4.3% 555
Slide 48: Cash flow statement (1/2)
Cash flow statement (1/2) in € million H1 2022 H1 2021 FY 2021 Ebitda 4,526 3,132 7,884 Change in WCR* and current provisions (2,581) (735) 1,579 Income taxes paid (771) (453) (1,213) Net interest paid (273) (326) (557) Dividends received from companies accounted for under 48 37 112 the equity metho
Slide 49: Cash flow statement (2/2)
Cash flow statement (2/2) in € million H1 2022 H1 2021 FY 2021 Free cash flow (after CAPEX) (281) 381 5,282 Net financial investments and other cash flows (748) (170) (4,643)* Cash flow before movements in share capital (1,029) 211 639 Share capital increases and other operations 378 605 721 Dividen
Slide 50: Operating CAPEX
Operating CAPEX in € million H1 2022 H1 2021 Δ 2022/2021 FY 2021 Concessions 58 43 +15 77 VINCI Autoroutes 13 13 -0 23 VINCI Airports* 41 22 +19 44 Other concessions 4 8 -3 9 VINCI Energies 81 86 -4 182 Cobra IS 56 - +56 - VINCI Construction 368 329 +40 758 VINCI Immobilier and holdings 53 131 -78 1
Slide 51: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs in € million H1 2022 H1 2021 Δ 2022/2021 FY 2021 Concessions 352 426 -74 841 VINCI Autoroutes 288 361 -73 677 Of which: ASF 105 120 -15 230 Escota 77 54 +23 120 Cofiroute 100 113 -14 224 Arcos 6 71 -65 95 VINCI Airports 65 68 -3 163 Other concessions (1) (2) +1 1
Slide 52: Net financial debt by business line
Net financial debt by business line Of which Of which Of which in € million 30 Jun. 2022 external 31 Dec. 2021 external 30 Jun. 2021 external net debt net debt net debt Concessions (32,360) (19,453) (32,693) (19,664) (33,465) (19,644) VINCI Autoroutes (17,088) (13,257) (18,008) (13,296) (18,037) (13
Slide 53: Maturity of LT gross financial debt
Maturity of LT gross financial debt Average maturity of LT gross financial debt (€28.2 bn) as of 30 June 2022: 6.9 years* 3 000 2 500 2 000 € Million 1 500 1 000 500 0 H2 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 >2038 Groupe ASF Cofiroute Arcour Arcos VINCI Air
Slide 54: Average cost of future debt repayments
Average cost of future debt repayments H2 2022 2023 2024 2025 2026 2027 Nominal amount in € million 2,304 2,132 1,600 1,821 2,160 2,537 Average rate* 3.01% 2.66% 3.19% 0.85% 2.36% 1.19% * After hedging 54
Slide 55: Natural hedging against interest-rate rises
Natural hedging against interest-rate 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) 28.6 28.4 27.9 28
Slide 56: Other information
VINCI “ Other information
Slide 57: 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. » 57
Slide 58: VINCI's businesses at the heart of the world's challenges
VINCI’s businesses at the heart of the world’s challenges VINCI Construction VINCI Energies Cobra IS VINCI Autoroutes VINCI Airports Strong growth drivers 58
Slide 59: 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 -40% greenhouse gas emissions vs 2018 (scope 1 & 2) 90% low carbon concrete used >20 mt recycled aggregates Ze
Slide 60: VINCI's social performance in 2021
VINCI’s social performance in 2021 Aiming for all-round performance and sharing the benefits of our performance with our stakeholders 2 million 73% 21.6% 4,132,250 198,000 of companies without lost-time female managers in 2021 hours of training provided in 2021 employees eligible for hours of integr
Slide 61: VINCI's strategy
VINCI’ strategy Long cycles/significant equity investments Short cycles/low equity investments CONCESSIONS CONSTRUCTION & ENERGY ü Extension of the portfolio’s average maturity ü Prioritise margin over revenue growth ü Strengthening of the group’s footprint in mobility ü Rigorous risk monitoring / S
Slide 62: Acquisition of Cobra IS (ACS' energy business)
Acquisition of Cobra IS (ACS’ energy business) A MAJOR STRATEGIC MOVE NOTEWORTHY ONGOING PROJECTS ü Create a global player in energy contracting to support the energy transition ü Develop renewable projects, with an identified Future 570 MW solar PV farm Future 110 MW onshore potential of c.15 GW ov
Slide 63: VINCI 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 Real Estate Revenue: €7.0 bn Revenue: €15.1 bn R
Slide 64: 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 65: Shareholder base at 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 66: Business line profiles
VINCI “ Business line profiles
Slide 67: 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 68: Concessions capex forecasts
Concessions capex forecasts* In € million 1 400 1 200 1 000 800 VINCI Airports (incl. London Gatwick) VINCI Autoroutes** 600 400 200 0 2022e 2023e 2024e * As of 30 June 2022 and including fully consolidated assets only ** Excluding capex related to the Montpellier Western bypass 68
Slide 69: VINCI Autoroutes traffic
VINCI Autoroutes H1 2022 VINCI Autoroutes traffic Of which: VINCI Autoroutes - Rolling twelve months traffic over 10 years Total Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 Δ H1 2022/H1 2021 130 Δ H1 2022/H1 2019 Δ H1 2022/H1 2019 Δ H1 2022/H1 2019 125 CAGR Q2 2022/ Q2 2012 120 +18.2% +21.3% +4.2% HV +2.2%
Slide 70: Airports passenger numbers in H1 2022
VINCI Airports passenger numbers in H1 2022 H1 Change Change Passenger traffic (in thousands of pax)* 2022 H1 22 / H1 21 H1 22/H1 19 Portugal (ANA) 23,919 4.6x -13% o/w Lisbon 12,136 4.8x -17% United Kingdom 15,410 15.2x -39% o/w LGW 13,137 23.1x -41% France 6,951 3.5x -30% o/w ADL (Lyon) 3,833 3.5x
Slide 71: VINCI Autoroutes
VINCI “ VINCI Autoroutes
Slide 72: Autoroutes key figures
VINCI Autoroutes key figures Change in revenue and Ebitda margin over 5 years 6 5,4 5,6 5,6 76,0% 5,3 75,0% 5 4,6 74,0% 74,7% 4 74.7% 74% 73,0% 73.0% 72.7% 73,0% 72.6% 72,7% 72,0% 3 71,0% 2 70.0% 70,0% 70,0% 69,0% 1 68,0% 0 67,0% 2017 2018 2019 2020 2021 Revenue (€bn) Ebitda margin 72
Slide 73: 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 74: 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 75: VINCI Airports
VINCI “ VINCI Airports
Slide 76: 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.) 52* platforms in 11 countries 255 195 157 132 77 86 69 43 47 10 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1 Data at 100% irrespectiv
Slide 77: 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 78: Airports network (1/2)
VINCI Airports network (1/2) VINCI AIRPORTS End of VINCI Traffic Country Name Description mPAX in 2019 mPAX in 2021 Consolidation concession share risk London Gatwick Freehold 46.6 6.3 - 50% Yes Full consolidation UK Belfast International Freehold 6.3 2.3 2993 100% Yes Full consolidation ANA Portuga
Slide 79: Airports network (2/2)
VINCI Airports network (2/2) VINCI AIRPORTS End of VINCI Traffic Country Name Description mPAX in 2019 mPAX in 2021 Consolidation concession share risk Orlando-Sanford Concession 3.3 2.4 2039 100% Yes Full consolidation USA 4 airports : Hollywood Burbank Airport in California, Atlantic Management Ci
Slide 80: VINCI Highways, VINCI Railways and VINCI Stadium
VINCI Highways, VINCI Railways and VINCI Stadium
Slide 81: 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 82: 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 83: 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 84: 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 85: Energy & Construction
VINCI “ Energy & Construction
Slide 86: 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 87: 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% 5% F
Slide 88: 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 89: VINCI Immobilier
VINCI “ VINCI Immobilier
Slide 90: 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 91: Notes
Notes VINCI “ i eeeeeeeeererrrrrrr—“(tisSsCSCSCSCSCSCSCSCSCSC( EUS
Slide 92: IR team and agenda
IR team and agenda TEAM 24 August 2022 Grégoire THIBAULT Boris VALET VINCI Autoroutes and VINCI Airports traffic Head of investor relations Investor relations officer in July 2022 gregoire.thibault@vinci.com boris.valet@vinci.com Tel: +33 1 57 98 63 84 Tel: +33 1 57 98 62 84 14 September 2022 VINCI