Outside France, revenue was €23.1 billion, up 13.6% on an actual basis and up 11.6% like-for-like compared with 2020. There was a positive effect from changes in scope (1.6%) and a limited positive effect from currency movements (0.4%). Revenue generated outside France was up 6.1% on an actual basis relative to 2019, and equalled 46.7% of total revenue (47.0% in 2020 and 45.3% in 2019).
| 2021/2020 change | ||||||
|---|---|---|---|---|---|---|
| (in € millions) | 2021 | 2020 | Actual | Like-for-like | 2019 | 2021/2019 change |
| Concessions | Concessions
7,046 |
Concessions
5,839 |
Concessions 2021/2020 change+20.7% |
Concessions
+20.9% |
Concessions
8,544 |
Concessions
-17.5% |
| VINCI Autoroutes | VINCI Autoroutes
5,550 |
VINCI Autoroutes
4,613 |
VINCI Autoroutes 2021/2020 change+20.3% |
VINCI Autoroutes
+20.3% |
VINCI Autoroutes
5,593 |
VINCI Autoroutes
-0.8% |
| VINCI Airports | VINCI Airports
1,188 |
VINCI Airports
990 |
VINCI Airports 2021/2020 change+19.9% |
VINCI Airports
+19.8% |
VINCI Airports
2,631 |
VINCI Airports
-54.9% |
| Other concessions | Other concessions
309 |
Other concessions
235 |
Other concessions 2021/2020 change+31.1% |
Other concessions
+38.1% |
Other concessions
319 |
Other concessions
-3.2% |
| VINCI Energies | VINCI Energies
15 097 |
VINCI Energies
13,661 |
VINCI Energies 2021/2020 change+10.5% |
VINCI Energies
+8.1% |
VINCI Energies
13,749 |
VINCI Energies
+9.8% |
| VINCI Construction | VINCI Construction
26,282 |
VINCI Construction
23,149 |
VINCI Construction 2021/2020 change+13.5% |
VINCI Construction
+13.0% |
VINCI Construction
25,051 |
VINCI Construction
+4.9% |
| VINCI Immobilier | VINCI Immobilier
1,611 |
VINCI Immobilier
1,189 |
VINCI Immobilier 2021/2020 change+35.5% |
VINCI Immobilier
+22.9% |
VINCI Immobilier
1,320 |
VINCI Immobilier
+22.1% |
| Intragroup eliminations | Intragroup eliminations (639) |
Intragroup eliminations (605) |
Intragroup eliminations2021/2020 change - |
Intragroup eliminations
- |
Intragroup eliminations (610) |
Intragroup eliminations
- |
Revenue (*) |
49,396 |
43,234 |
2021/2020 change +14.3% | 12.9% |
48,053 |
+2.8% |
| Concession subsidiaries’ works revenue | Concession subsidiaries’ works revenue 680 |
Concession subsidiaries’ works revenue 864 |
Concession subsidiaries’ works revenue2021/2020 change -21.3% | Concession subsidiaries’ works revenue -20.9% |
Concession subsidiaries’ works revenue 1,038 |
Concession subsidiaries’ works revenue -34.4% |
| Intragroup eliminations | Intragroup eliminations (95) |
Intragroup eliminations (168) |
Intragroup eliminations2021/2020 change - |
Intragroup eliminations
- |
Intragroup eliminations (338) |
Intragroup eliminations
- |
| Concession subsidiaries’ revenue derived from works carried out by non-Group companies | Concession subsidiaries’ revenue derived from works carried out by non-Group companies 586 |
Concession subsidiaries’ revenue derived from works carried out by non-Group companies 696 |
Concession subsidiaries’ revenue derived from works carried out by non-Group companies2021/2020 change -15.9% | Concession subsidiaries’ revenue derived from works carried out by non-Group companies -15.4% |
Concession subsidiaries’ revenue derived from works carried out by non-Group companies 699 |
Concession subsidiaries’ revenue derived from works carried out by non-Group companies -16.3% |
Total consolidated revenue |
49,982 |
43,930 |
2021/2020 change +13.8% | +12.4% |
48,753 |
+2.5% |
(*) Excluding concession subsidiaries’ revenue derived from works carried out by non-Group companies.
CONCESSIONS: €7.0 billion (up 20.7% actual; up 20.9% like-for-like)
VINCI Autoroutes: revenue totalled €5,550 million, close to the 2019 figure and up 20.3% compared with 2020. In 2021 as a whole, overall traffic rebounded sharply relative to 2020 (up 22%) and was close to the level seen in 2019 (down 4%). Heavy vehicle traffic rose 3% compared with 2019, due to firm economic activity in France and growth in e-commerce, while light vehicle traffic recovered rapidly in the second half and limited its decline to 5% relative to 2019.
VINCI Airports: revenue amounted to €1,188 million, down 55% relative to 2019 but up 19.9% on 2020. Like the global air travel sector as a whole, passenger numbers across all airports managed by VINCI Airports had a depressed first half (down 81% compared with the same period in 2019), but recovered from the summer onwards (down 59% in the third quarter). The rebound continued across almost all of the Group’s airports in the fourth quarter, when passenger numbers were 46% lower than in the fourth quarter of 2019 but more than double the level seen in the fourth quarter of 2020, despite the spread of the Omicron variant. However, trends varied between geographical areas. Passenger numbers were close to or higher than pre-crisis levels at several American airports, moved closer to normal at most European airports – particularly in Portugal, France and Serbia – but remained weak in the United Kingdom and Asia (Japan and Cambodia).
In 2021 as a whole, passenger numbers at airports managed by VINCI Airports were 66% lower than in 2019, but 12% higher than in 2020.
Other concessions: revenue totalled €309 million, down 3% relative to 2019 but up 31% on 2020. Lima Expresa’s traffic levels in Peru and those of Gefyra in Greece remained lower than in 2019 (by between 8% and 12%), while at VINCI Stadium the number of events attended by spectators remained severely restricted by public health measures.
VINCI Energies: €15.1 billion (up 10.5% actual; up 8.1% like-for-like)
Revenue at VINCI Energies totalled €15,097 million, up 9.8% on an actual basis compared with 2019. Despite supply chain problems at the end of the year, growth was driven by very buoyant markets and, to a lesser extent, the impact of acquisitions (those completed in 2020 and 2021 added around €300 million to revenue in 2021).
In France (44% of the total), the economic environment was supportive in all business areas – particularly tertiary activities in the Greater Paris area – and revenue totalled €6,698 million, up 9% compared with 2019. It was up 14.3% (up 13.6% like-for-like) relative to 2020.
Outside France (56% of the total), revenue was €8,399 million, up 10.6% relative to 2019 and up 7.7% compared with 2020 (up 4.1% like-for-like). It increased in Europe, North America and Africa in particular.
VINCI Construction: €26.3 billion (up 13.5% actual; up 13.0% like-for-like)
Revenue at VINCI Construction totalled €26,282 million, up 4.9% on an actual basis compared with 2019.
In France (48.5% of the total), revenue was €12,751 million, down 4.4% relative to 2019 but up 10.2% year on year. Business levels remained firm in public works and civil engineering – supported by Grand Paris Express projects – and in rail works, roadworks and earthworks. In building works, business levels were driven by several major developments in the Greater Paris area. Relative to 2020, revenue rose by 10% both on an actual basis and like-for-like.
Outside France (51% of the total), revenue was €13,531 million, up 15.6% relative to 2019. Compared with 2020, revenue was up 16.8% on an actual basis and up 15.9% like-for-like. Growth was driven by the ramp-up of several large contracts obtained recently, including two works packages on the HS2 high-speed rail line in the United Kingdom. Business levels were also firm in rail works, roadworks and earthworks. In proximity networks, growth was firm in Oceania, Africa, the Czech Republic, the United Kingdom and Chile.
