Vinci’s orders climb as sales dip

Vinci reported sales of € 23,9 billion for the first nine months of 2009, down -4,3% on the € 25 billion recorded for the same period last year. Despite the decline, the company's order book at 30 September rose + 4% on the 31 December 2008 figure to stand at € 24,2 billion, up from € 23,2 billion.

While Vinci Concessions saw a +2,3% growth in the first nine months to € 3,7 billion, up from € 3,6 billion for the same period last year, the contracting side of the business, which includes Vinci Energies, Eurovia and Vinci Construction, reported a -5,1% decrease in revenues, down to € 19,8 billion from € 20,9 billion 12 months previously.

A Vinci spokesperson said, "Thanks to the effect of the economic stimulus packages and contracts won in the infrastructure and energy sectors, Vinci's order book remains at a high level and up on the 31 December 2008 figure.

"The Group's financial structure remains sound, and we have reduced net debt by -€ 1,4 billion over the past 12 months. These figures confirm the ability of Vinci to withstand the crisis, while the Group's construction-concession business model is proving well suited to the infrastructure market."