2022 Universal Registration Document

VINCI Construction confirmed the resilience of its business model in a particularly turbulent economic environment. It undertook more than 70,000 projects, a growing proportion of which were devoted to the energy and environmental transition of buildings, the living environment and infrastructure.

In 2022 a number of VINCI Construction’s markets, particularly in Europe, were affected by geopolitical tensions and macroeconomic difficulties. Despite these headwinds, VINCI Construction increased its revenue by 11% to €29.3 billion, while growing its operating margin to 3.8% of revenue. Business outside France, which expanded by almost 20% in 2022 (compared with 2% in France), generates 55% of all revenue. Order intake also accelerated, despite a stricter selection policy aimed at containing hikes in materials prices and energy and labour costs.

In addition to having agile teams working within a decentralised organisation that fosters the operational performance of each of its 1,350 business units, the division draws its resilience from a model that optimises market coverage. With operations structured around three complementary pillars – Major Projects, Specialty Networks and Proximity Networks in France and abroad – the company brings together a unique range of expertise which it applies to projects of all sizes, from day to day operations to large infrastructure projects.

VINCI Construction is active in some 100 countries, thanks in particular to the worldwide reach of its specialty networks. However, over 85% of its business is carried out in nine countries in Europe, North America and Oceania, where it relies on its network of local companies that provide it with strong local roots. This network generates a steady flow of business as well as larger contracts involving local subsidiaries, major project teams or specialist expertise. Large scale projects are under way in France, the United Kingdom, the Czech Republic, Germany, Canada, the United States, Australia and New Zealand that exemplify this strategic position (see below).

VINCI Construction is best poised to address the challenges of the energy and ecological transition, through solutions that include constructing or renovating buildings to meet the most rigorous relevant standards, or building infrastructure for low carbon mobility, energy production, water production and distribution or climate resilience. In line with the Group’s commitments, VINCI Construction is building on this momentum by accelerating the deployment of its environmental policy, via initiatives to reduce its direct footprint (such as renewing the fleet of worksite equipment and vehicles, transforming road asphalt plants, promoting backhaul to and from worksites to avoid empty running) that go hand in hand with the development of low carbon impact materials (Exegy® solutions, timber frame buildings, etc.), solutions aimed at scaling up energy efficiency upgrades (Rehaskeen® facades) or construction techniques that use reduced quantities of materials (Freyssinet post tensioned floor slabs and Terre Armée ® structures, for example).