Vinci FY23 Profit Rises On Double-Digit Revenue Growth

(RTTNews) - Vinci SA (VCISY.PK) Wednesday reported full-year 2023 net income attributable to owners of the parent of 4.70 billion euros or 8.18 euro per share, up from 4.26 billion euros or 7.47 euro per share last year.

Consolidated revenue was 68.84 billion euros, up 12% from 61.7 billion euros reported last year.

In France, revenue was 29.6 billion euros, up 6% on both an actual and like-for-like basis. Outside France, revenue came to 39.2 billion euros, up 16% on an actual basis and 13% on a like-for-like basis.

Concessions revenue totalled 10.9 billion euros, up 19% on an actual basis and 13% on a like-for-like basis compared with 2022.

Chairman and CEO Xavier Huillard said, "VINCI's overall performance was of a very high quality in 2023. Revenue and earnings grew strongly and reached new all-time highs. Free cash flow was exceptional and significantly exceeded expectations."

"Almost all of the Group's businesses, both in France and abroad, saw very positive momentum throughout the year. The only exception was the property development business, which is dealing with a severe conjunctural downturn in its sector," Huillard added.

The Board of Directors decided to propose a 2023 dividend of 4.50 euro per share to the Shareholders' General Meeting on April 9, 2024, reflecting its confidence in the Group's future prospects.