Vinci first half revenues rise
By Helen Wright27 July 2011
Vinci reported a +17,3% year-on-year increase in first half revenues to € 17,3 billion, boosted by positive business conditions particularly in contracting - its largest business division by revenue.
First half contracting revenues increased +19,9% to € 14,8 billion, driven by +43,1% growth in the energy business line, which reported revenues of € 4,1 billion.
In Vinci's domestic French market, first half contracting revenue amounted to € 2,6 billion, up +42,5% compared to the first six months of 2010, after benefiting from momentum in the energy and telecommunications infrastructure markets and a return to growth in the industrial sector. Outside France, contracting revenues for the period were € 1,5 billion, up +4,2% against the first half of 2010.
In concessions, revenues rose +5,2% compared to the first half of 2010 to € 2,5 billion, while construction revenues rose +12,4% to € 6,9 billion and Vinci's road building business, Eurovia, reported a +13,7% increase in revenue to €3,8 billion.
Overall, Vinci saw slightly stronger growth in the French market than in its international business. Group-wide revenues in France rose +17,8% compared to the first half of 2010 to € 11,1 billion, while international revenues increased +16,4% to € 6,2 billion, representing 36% of the company's total revenue.
"Following a first quarter that benefited from mild weather conditions and a favourable comparison basis, business remained brisk in the second quarter of 2011, confirming the return to growth observed since the second half of 2010," Vinci said.
Vinci's order book at 30 June reached € 30 billion, up +16% since the beginning of the year and +12% over 12 months. It included € 4,2 billion towards a contract for the 300 km South Europe Atlantic high-speed rail line between Tours and Bordeaux, signed with Réseau Ferré de France (RFF) on 16 June.