Their change during the period and their breakdown by maturity are as follows:
| (in € millions) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| Beginning of period | Beginning of period31/12/2021252 | Beginning of period 31/12/2020 207 |
| Acquisitions during period | Acquisitions during period 31/12/202115 |
Acquisitions during period 31/12/2020 62 |
| Acquisitions as part of business combinations | Acquisitions as part of business combinations 31/12/2021- |
Acquisitions as part of business combinations 31/12/2020 5 |
| Redemptions | Redemptions 31/12/2021(49) |
Redemptions 31/12/2020 (20) |
| Other movements and currency translation differences | Other movements and currency translation differences 31/12/2021(8) |
Other movements and currency translation differences 31/12/2020 (2) |
| (in € millions)End of period of which: between 1 and 5 years after 5 years |
31/12/2021
210 93 117 |
31/12/2020 252 155 |
| (in € millions) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| ASF group | ASF group 31/12/2021690 |
ASF group 31/12/2020 804 |
| Cofiroute | Cofiroute 31/12/2021467 |
Cofiroute 31/12/2020 602 |
| Belgrade airport (Serbia) | Belgrade airport (Serbia) 31/12/2021184 |
Belgrade airport (Serbia) 31/12/2020 289 |
| ANA Group (Portugal) | ANA Group (Portugal) 31/12/2021106 |
ANA Group (Portugal) 31/12/2020 136 |
| Dunas (Spain) | Dunas (Spain) 31/12/2021105 |
Dunas (Spain) 31/12/2020 - |
| Lima Expresa (Peru) | Lima Expresa (Peru) 31/12/202180 |
Lima Expresa (Peru) 31/12/2020 96 |
| London Gatwick airport (United Kingdom) | London Gatwick airport (United Kingdom) 31/12/202164 |
London Gatwick airport (United Kingdom) 31/12/2020 26 |
| VINCI Concessions Investment USA (Tollplus) | VINCI Concessions Investment USA (Tollplus) 31/12/202140 |
VINCI Concessions Investment USA (Tollplus) 31/12/2020 - |
| VINCI Highways (Lusoponte) | VINCI Highways (Lusoponte) 31/12/202128 |
VINCI Highways (Lusoponte) 31/12/2020 - |
| Other | Other 31/12/202174 |
Other 31/12/2020 223 |
| (in € millions)Total | 31/12/20211,837 | 31/12/2020 2,175 |
Contractual investment obligations of motorway concession companies consist mainly of undertakings made under concession contracts, multi-year master contracts as part of the 2015 motorway stimulus plan and the motorway investment plan approved in 2018. In 2021, progress with works by VINCI Autoroutes companies led to a €307 million reduction in their commitments to €1,157 million at 31 December 2021.
The above amounts do not include obligations relating to maintenance expenditure on infrastructure under concession, in respect of which specific provisions based on maintenance plans are set aside (see Note H.19.3, “Breakdown of current provisions”).
Where the financial asset or bifurcated model applies, subsidiaries receive a guarantee of payment from the concession grantor in return for their investment commitment.
Collateral security (in the form of pledges of shares and mortgages on land and buildings) is generally granted to secure financing arranged within subsidiaries, and breaks down as follows:
| (in € millions) | Start date | End date | Amount at 31/12/2021 |
|---|---|---|---|
| London Gatwick airport | London Gatwick airport Start date 2011 |
London Gatwick airport End date 2049 |
London Gatwick airport Amount at 31/12/20212 525 |
| Arcour | Arcour Start date 2008 |
Arcour End date 2047 |
Arcour Amount at 31/12/2021584 |
| Arcos | Arcos Start date 2018 |
Arcos End date 2045 |
Arcos Amount at 31/12/2021360 |
| Aerodom | Aerodom Start date 2017 |
Aerodom End date 2029 |
Aerodom Amount at 31/12/2021358 |
| Lima Expresa | Lima Expresa Start date 2016 |
Lima Expresa End date 2037 |
Lima Expresa Amount at 31/12/2021246 |
| ADL - Aéroports de Lyon | ADL - Aéroports de LyonStart date 2016 |
ADL - Aéroports de LyonEnd date 2032 |
ADL - Aéroports de LyonAmount at 31/12/2021226 |
| Belgrade airport | Belgrade airport Start date 2018 |
Belgrade airport End date 2035 |
Belgrade airport Amount at 31/12/2021214 |
| Gefyra | Gefyra Start date 1997 |
Gefyra End date 2029 |
Gefyra Amount at 31/12/2021145 |
| North Region airports | North Region airports Start date 2021 |
North Region airports End date 2022 |
North Region airports Amount at 31/12/202174 |
| Caraibus | Caraibus Start date 2015 |
Caraibus End date 2035 |
Caraibus Amount at 31/12/202158 |
