| (in € millions) | London Gatwick airport |
|---|---|
| Revenue | Revenue London Gatwick airport224 |
| Net income (*) | Net income (*) London Gatwick airport(806) |
| of which attributable to non-controlling interestspart des intérêts minoritaires | of which attributable to non-controlling interestspart des intérêts minoritairesLondon Gatwick airport(403) |
| Other comprehensive income | Other comprehensive income London Gatwick airport(13) |
| Comprehensive income for the period | Comprehensive income for the period London Gatwick airport(819) |
| of which attributable to non-controlling interests | of which attributable to non-controlling interestsLondon Gatwick airport(410) |
| Non-current assets | Non-current assets London Gatwick airport10,040 |
| Current assets | Current assets London Gatwick airport875 |
| Non-current liabilities | Non-current liabilities London Gatwick airport(7,145) |
| Current liabilities | Current liabilities London Gatwick airport(1,257) |
| Net assets | Net assets London Gatwick airport2,513 |
| of which attributable to non-controlling interests | of which attributable to non-controlling interestsLondon Gatwick airport1,257 |
| Net operating cash flows | Net operating cash flows London Gatwick airport(191) |
| Net cash flows from investing activities | Net cash flows from investing activities London Gatwick airport(52) |
| Net cash flows from financing activities | Net cash flows from financing activities London Gatwick airport624 |
| Other changes 32 | Other changes 32 London Gatwick airport32 |
| Change in net cash | Change in net cash London Gatwick airport413 |
(*) Including the impact from revaluing deferred tax as a result of the UK corporation tax rate now set to be 25% instead of 19% from 2023 (negative effect of €376 million in 2021).
In the 8 April 2021 Shareholders’ General Meeting, shareholders approved a dividend payment of €2.04 per share with respect to 2020.
The dividend was paid in cash on 22 April 2021.
On 18 November 2021, VINCI proceeded with the payment of an interim dividend of €0.65 in respect of 2021. A total dividend of €2.90 will be submitted for approval at the Shareholders’ General Meeting to be held on 12 April 2022, with the final dividend of €2.25 to be paid on 28 April 2022 (see Note N.33, “Appropriation of 2021 net income”).
Dividends paid by VINCI SA to its shareholders in respect of 2021 and 2020 break down as follows:
| Exercice 2021 | Exercice 2020 | |
|---|---|---|
| Dividend per share (in €) | Dividend per share (in €)Exercice 2021
|
Dividend per share (in €) Exercice 2020
|
| Interim dividend | Interim dividend Exercice 20210.65 |
Interim dividend Exercice 2020
|
| Final dividend | Final dividend Exercice 20212.25 (*) |
Final dividend Exercice 2020 2.04 |
| Net total dividend | Net total dividendExercice 20212.90 | Net total dividend Exercice 2020 2.04 |
| Amount of dividend (in € millions) | Amount of dividend (in € millions)Exercice 2021
|
Amount of dividend (in € millions) Exercice 2020
|
| Interim dividend | Interim dividend Exercice 2021372 |
Interim dividend Exercice 2020 - |
| Net total dividend | Net total dividend Exercice 20211,275 (**) |
Net total dividend Exercice 2020 1,157 |
| Dividende net global | Dividende net globalExercice 20211,646 | Dividende net global Exercice 2020 1,157 |
(*) Estimate based on the number of shares with dividend entitlement at 3 February 2022, i.e. 566,586,687 shares.
(**) Submitted for approval at the Shareholders’ General Meeting of 12 April 2022.
Net financial debt
Bonds, other loans and financial debt are recognised at amortised cost using the effective interest method. The effective interest rate is determined after taking account of redemption premiums and issuance expenses. Under this method, the interest expense is measured actuarially and reported under the cost of gross financial debt.
The economic benefit of a loan at a significantly below-market rate of interest, which is the case in particular for project finance granted by public sector organisations, is treated as a government grant and recognised as a reduction of the debt and the related investments, in accordance with IAS 20.
Certain financing contracts provide for early redemption options, for amounts that are always close to the amortised cost of the financial liabilities that are recognised as a result. Consequently, the Group does not recognise any derivative financial instrument separately from the original contracts.
The part at less than one year of borrowings is included in “Current borrowings”.
