Core businesses key figures
Revenue
| in €millions |
2025 |
2024 |
|---|---|---|
| Concessions |
12,219 |
11,651 |
| VINCI Airports |
4,796 |
4,526 |
| VINCI Autoroutes |
6,733 |
6,585 |
| VINCI Highways |
543 |
403 |
| Energy Solutions |
29,612 |
27,478 |
| VINCI Energies |
21,608 |
20,373 |
| Cobra IS |
8,004 |
7,105 |
| Construction |
33,241 |
32,927 |
| VINCI Construction |
32,137 |
31,784 |
| VINCI Immobilier |
1,105 |
1,143 |
| Eliminations and adjustments |
(473) |
(433) |
| Revenue1 |
74,599 |
71,623 |
| France |
30,787 |
30,197 |
| Europe excluding France |
28,511 |
26,137 |
| International excluding Europe |
15,302 |
15,288 |
1 Excluding concession subsidiaries’ construction work done by non-Group companies.
Net income attributable to owners of the parent
| in €millions | 2025 |
2024 |
|---|---|---|
| Concessions |
2,951 |
2,726 |
| VINCI Airports |
1,140 |
947 |
| VINCI Autoroutes |
1,7601 |
1,833 |
| VINCI Highways |
79 |
33 |
| Energy Solutions |
1,253 |
1,159 |
| VINCI Energies |
920 |
862 |
| Cobra IS |
333 |
297 |
| Construction |
827 |
792 |
| VINCI Construction |
817 |
861 |
| VINCI Immobilier |
10 |
(69) |
| Holdings |
(128)1 |
187 |
| Net income attributable to owners of the parent |
4,903 |
4,863 |
| France |
44% |
47% |
| International |
56% |
53% |
| Net income attributable to owners of the parent excluding the exceptional tax contribution1 |
5,352 |
4,863 |
1 "Exceptional tax contribution" : negative impact of €449 million (€261 million for VINCI Autoroutes and €188 million for VINCI SA) on net income and €425 million (€255 million for VINCI Autoroutes and €170 million for VINCI SA) on free cash flow from the exceptional contribution in 2025 on the profits of major companies in France.
EBITDA
| in €millions |
2025 |
% Revenue1 |
2024 |
% Revenue1 |
|---|---|---|---|---|
| Concessions |
8,169 |
66.9% |
7,773 |
66.7% |
| VINCI Airports |
3,042 |
63.4% |
2,883 |
63.7% |
| VINCI Autoroutes |
4,784 |
71.0% |
4,662 |
70.8% |
| VINCI Highways |
282 |
51.9% |
198 |
49.0% |
| Energy Solutions |
2,805 |
9.5% |
2,496 |
9.1% |
| VINCI Energies |
2,019 |
9.3% |
1,794 |
8.8% |
| Cobra IS |
786 |
9.8% |
702 |
9.9% |
| Construction |
2,194 |
6.6% |
1,988 |
6.0% |
| VINCI Construction |
2,133 |
6.6% |
1,985 |
6.2% |
| VINCI Immobilier |
61 |
5.5% |
2 |
0.2% |
| Holdings |
339 |
|
432 |
|
| EBITDA |
13,507 |
18.1% |
12,689 |
17.7% |
1 Excluding concession subsidiaries’ construction work by non-Group companies.
Operating income from ordinary activities
| in €millions | 2025 | % Revenue1 |
2024 |
% Revenue1 |
|---|---|---|---|---|
| Concessions |
5,935 |
48.6% |
5,688 |
48.8% |
| VINCI Airports |
2,459 |
51.3% |
2,334 |
51.6% |
| VINCI Autoroutes |
3,311 |
49.2% |
3,365 |
49.6% |
| VINCI Highways |
161 |
29.8% |
101 |
25.1% |
| Energy Solutions |
2,250 |
7.6% |
2,027 |
7.4% |
| VINCI Energies |
1,606 |
7.4% |
1,474 |
7.2% |
| Cobra IS |
644 |
8.0% |
553 |
7.8% |
| Construction |
1,356 |
4.1% |
1,247 |
3.8% |
| VINCI Construction |
1,353 |
4.2% |
1,304 |
4.1% |
| VINCI Immobilier |
3 |
0.3% |
(57) |
(5.0%) |
| Holding companies |
16 |
|
35 |
|
| Operating income from ordinary activities |
9,558 |
12.8% |
8,997 |
12.6% |
1 Excluding concession subsidiaries’ construction work by non-Group companies
Net financial debt
| in €millions | 2025 | Including external EFN |
2024 |
Including external EFN |
|---|---|---|---|---|
| Concessions |
(29,124) |
(21,412) |
(31,739) |
(20,888) |
| VINCI Airports |
(10,542) |
(9,056) |
(11,558) |
(8,744) |
| VINCI Autoroutes |
(15,001) |
(11,057) |
(16,159) |
(11,296) |
| VINCI Highways |
(2,315) |
(1,259) |
(2,032) |
(849) |
| Other concessions1 |
(1,265) |
(40) |
(1,991) |
2 |
| Energy Solutions |
1,718 |
909 |
1,308 |
1,396 |
| VINCI Energies |
1,366 |
557 |
761 |
848 |
| Cobra IS |
352 |
352 |
547 |
547 |
| Construction |
3,801 |
2,569 |
3,418 |
2,197 |
| VINCI Construction |
4,176 |
2,488 |
4,116 |
2,134 |
| VINCI Immobilier |
(375) |
81 |
(698) |
63 |
| Holdings |
4,530 |
(1,141) |
6,599 |
(3,120) |
| Net financial debt |
(19,075) |
(19,075) |
(20,415) |
(20,415) |
1VINCI Concessions holding, VINCI Railways, VINCI Stadium
Workforce
| Year |
2025 |
2024 |
|---|---|---|
| Concessions |
21,955 |
20,453 |
| VINCI Autoroutes |
5,166 |
5,365 |
| VINCI Airports |
13,209 |
12,547 |
| Other concessions |
3,580 |
2,541 |
| VINCI Energies |
109,003 |
102,590 |
| Cobra IS |
44,348 |
42,382 |
| VINCI Construction |
116,811 |
117,370 |
| VINCI Immobilier and holdings |
1,669 |
1,731 |
| Employees |
293,786 |
284,526 |
