Concessions
VINCI Autoroutes
Profile
With a network stretching 4,385 km, representing half of France’s motorway network under
concession, VINCI Autoroutes is Europe’s leading motorway operator.
VINCI Autoroutes comprises four concession companies in France:
– ASF, 2,639 km of motorways in operation and 75 km under construction, covering the southern
half of France;
– Cofiroute, with a network of 1,100 km serving the west of France and the A86 Duplex tunnel in
the Greater Paris area (this 11 km tunnel fully entered service on 9 January 2011);
– Escota, with a network of 459 km in the Provence-Alpes-Côte d’Azur region of southern France;
– Arcour, comprising the 101 km A19 Artenay-Courtenay southern Greater Paris bypass motorway, operated by Cofiroute.
VINCI Autoroutes networks carry 2.2 million customers daily, with 1.3 million subscribers to the
electronic toll collection service. Drivers cover 46.5 billion km annually on VINCI Autoroutes
motorways, representing nearly 800 million toll transactions.
Bringing private sector performance to the service of the public, VINCI Autoroutes is working to make motorways safer, greener and more pleasant to use. Through its investment in building new sections, widening and upgrading existing sections, and enhancing environmental standards throughout its networks under the “green motorway package”, it ranks among the foremost private-sector contracting authorities and investors in France.
“VINCI Autoroutes plans to invest around €1.3 billion in 2011 on extending, upgrading and improving the environmental quality of its motorways.”
Revenue: €4,259 Million
Operating profit from ordinary activities: €1,923 Million
Net profit attributable to equity holders of the parent: €837 Million
Workforce: 8,500 employees
Outlook
VINCI Autoroutes expects further traffic growth on its networks in 2011. After catching up with, and then exceeding, pre-crisis levels in 2010, light vehicle traffic should continue to grow slowly. Growth in heavy goods vehicle traffic is likely to be more pronounced, in line with the recovery seen in 2010. Consequently, and given the impact of recent openings and the contractual rise in toll rates on 1 February 2011, toll revenues should grow at roughly the same rate as in 2010. EBITDA margins are expected to edge up slightly again in 2011, despite low returns on the A86 Duplex in the Greater Paris area in the early phase of the concession. Margin growth will be driven partly by further automation of toll collection. An additional contributing factor will be the on-going integration of its motorway companies, generating synergies in terms of skills and costs controls, in purchasing and systems development especially.
At the same time, VINCI Autoroutes plans to speed up its investment programmes, with estimated expenditures of around €1.3 billion in 2011 on extending, upgrading and improving the environmental quality of its motorways. As a result, VINCI Autoroutes will be one of the largest investors in the current period. These long-term value-creating investments are an integral part of VINCI Autoroutes’ concession mandate. They will be financed in part by extensions to its concession periods.
A similar approach is at work in services and customer relations. As an outgrowth of its charter of service commitments and the initial offers launched under its brand, VINCI Autoroutes will be deploying new toll offers, new mobility services and new standards of customer relations on its networks, to respond more effectively to the needs of its customers, individual and professional alike.