Vinci records ‘stable’ 2015

French construction company Vinci has recorded “stable” revenues of €38.5 billion for 2015 – a minor decrease of 0.5% on 2014.

The company’s income excluding non-recurring items rose 10.7% to €2.11 billion, while its debts decreased to €12.4 billion from the €13.3 billion recorded a year earlier.

In France, Vinci’s revenue was €22.4 billion for 2015, which represented a 6.4% decrease on an actual basis from 2014. The company said the decline was due to the progress with the Tours–Bordeaux high-speed rail line project, which was 91% completed at the end of 2015.

Outside France, revenue rose 9% to €16.1 billion for the year, which it said was boosted by positive exchange rate movements.

Xavier Huillard, chairman and CEO, said, “In 2015, Vinci demonstrated the relevance of its business model, which is based on the complementarity of its concessions and contracting activities.

“The traffic upturn at Vinci Autoroutes has been confirmed, while growth accelerated at Vinci Airports. The Contracting business remained affected by weak market conditions in France and a more uncertain operating environment worldwide – caused in particular by lower oil prices – but margins were resilient and order intake increased in the second half.”

He added that Vinci was starting 2016 with confidence, while the company would be aiming for earnings growth.