Their change during the period and their breakdown by maturity are as follows:
| (in € millions) | 31/12/2022 | 31/12/2021 |
|---|---|---|
| Beginning of period | Beginning of period 31/12/2022 210 |
Beginning of period 31/12/2021 252 |
| Acquisitions during period | Acquisitions during period 31/12/2022 7 |
Acquisitions during period 31/12/2021 15 |
| Redemptions | Redemptions 31/12/2022 (71) |
Redemptions 31/12/2021 (49) |
| Other movements and currency translation differences | Other movements and currency translation differences 31/12/2022 (1) |
Other movements and currency translation differences 31/12/2021 (8) |
| End of period | End of period 31/12/2022 146 |
End of period 31/12/2021 210 |
| of which: | of which: 31/12/2022
|
of which: 31/12/2021
|
| between 1 and 5 years | between 1 and 5 years 31/12/2022 43 |
between 1 and 5 years 31/12/2021 93 |
| over 5 years | over 5 years 31/12/2022 103 |
over 5 years 31/12/2021 117 |
| (in € millions) | 31/12/2022 | 31/12/2021 |
|---|---|---|
| ASF group | ASF group 31/12/2022 1,039 |
ASF group 31/12/2021 690 |
| OMA (Grupo Aeroportuario del Centro Norte – Mexico) | OMA (Grupo Aeroportuario del Centro Norte – Mexico) 31/12/2022 488 |
OMA (Grupo Aeroportuario del Centro Norte – Mexico) 31/12/2021 – |
| Cofiroute | Cofiroute 31/12/2022 370 |
Cofiroute 31/12/2021 467 |
| VINCI Highways | VINCI Highways 31/12/2022 286 |
VINCI Highways 31/12/2021 28 |
| ANA group (Portugal) | ANA group (Portugal) 31/12/2022 199 |
ANA group (Portugal) 31/12/2021 106 |
| North Region airports | North Region airports 31/12/2022 176 |
North Region airports 31/12/2021 – |
| Cobra IS | Cobra IS 31/12/2022 143 |
Cobra IS 31/12/2021 105 |
| Belgrade airport (Serbia) | Belgrade airport (Serbia) 31/12/2022 62 |
Belgrade airport (Serbia) 31/12/2021 184 |
| ADL - Aéroports de Lyon | ADL - Aéroports de Lyon 31/12/2022 57 |
ADL - Aéroports de Lyon 31/12/2021 20 |
| London Gatwick airport (United Kingdom) | London Gatwick airport (United Kingdom) 31/12/2022 38 |
London Gatwick airport (United Kingdom) 31/12/2021 64 |
| Lima Expresa (Peru) | Lima Expresa (Peru) 31/12/2022 34 |
Lima Expresa (Peru) 31/12/2021 80 |
| Other | Other 31/12/2022 29 |
Other 31/12/2021 95 |
| Total | Total 31/12/2022 2,922 |
Total 31/12/2021 1,837 |
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. VINCI Autoroutes’ undertakings amounted to €1,409 million at 31 December 2022, and the increase related mainly to the planned Montpellier western bypass in an amount of €341 million.
The increase in these undertakings also reflects investments to be made in OMA’s airports in Mexico and Manaus airport in Brazil, along with VINCI Highways’ undertaking to acquire 55% of Entrevias, a motorway concession operator in the state of São Paulo in Brazil. Cobra IS’s investment obligations mainly concern the Villocano Energy project in Ecuador and the Dunas project in Brazil.
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 |
|---|---|---|---|
| London Gatwick airport | London Gatwick airport Start date 2011 |
London Gatwick airport End date 2049 |
London Gatwick airport Amount 2,600 |
| Arcour | Arcour Start date 2008 |
Arcour End date 2047 |
Arcour Amount 578 |
| OMA (Grupo Aeroportuario del Centro Norte) | OMA (Grupo Aeroportuario del Centro Norte) Start date 2022 |
OMA (Grupo Aeroportuario del Centro Norte) End date 2029 |
OMA (Grupo Aeroportuario del Centro Norte) Amount 423 |
| Aerodom | Aerodom Start date 2017 |
Aerodom End date 2029 |
Aerodom Amount 358 |
| Arcos | Arcos Start date 2018 |
Arcos End date 2045 |
Arcos Amount 358 |
| Lima Expresa | Lima Expresa Start date 2016 |
Lima Expresa End date 2037 |
Lima Expresa Amount 284 |
| Belgrade airport | Belgrade airport Start date 2018 |
Belgrade airport End date 2035 |
Belgrade airport Amount 249 |
| ADL - Aéroports de Lyon | ADL - Aéroports de Lyon Start date 2016 |
ADL - Aéroports de Lyon End date 2033 |
ADL - Aéroports de Lyon Amount 220 |
| Gefyra | Gefyra Start date 1997 |
Gefyra End date 2029 |
Gefyra Amount 122 |
| Other concession operating companies | Other concession operating companies Start date
|
Other concession operating companies End date
|
Other concession operating companies Amount 285 |
| Total | Total Start date
|
Total End date
|
Total Amount 5,476 |
Other security interests related to the funding of concession projects have been granted in an amount of €107 million.
