VINCI Construction achieved remarkable overall performance in 2023 in terms of revenue, Ebit margin and free cash flow generation. Its diverse skill sets, broad geographical coverage and efficient organisation reinforce its resilience in markets driven by powerful underlying trends.
VINCI Construction’s revenue grew by 7.5% to €31.5 billion (8.6% like-for-like). Growth was particularly strong in markets outside France (9.8%), which now account for 57% of its total business volume. Its Ebit margin rose to 4.0%, a level not seen since 2011. Order intake was also up, by 3.0% year on year, despite a consistently selective policy.
In addition to having an array of expertise that is unparalleled in the industry, VINCI Construction draws its resilience from a model that optimises market cover-age. Through an organisation structured around three complementary pillars – Major Projects, Specialty Networks and Proximity Networks – the global and local dimensions are combined within a management system that fosters cross-business cooperation, while giving considerable autonomy to the 1,300 business units that make up the business line. While each is clearly positioned in its own market segment and geography, they all share the same set of strategic guidelines, rules and values, which optimise VINCI Construction’s all-round performance and drive its commitment to innovation and transformation.
Although VINCI Construction has operations in some 100 countries, it carries out over 85% of its business in nine countries in Europe, North America and Oceania, where it relies on its network of local companies and their strong local roots. This encourages a steady inflow of small and medium-sized projects, as well as larger ones that most often involve the business line’s various networks. VINCI Construction carries out 70,000 projects a year representing an average value of €450,000. However, some of the larger projects total several hundred million euros and sometimes, as is the case for a few exceptional projects, as much as €1 billion.
VINCI Construction’s solutions are playing a central role in addressing the challenges around the energy and environmental transition. Those associated with low-carbon mobility, renewable energy production, the water cycle and climate resilience account for a significant proportion of its civil engineering projects. In the building sector, VINCI Construction carries out a growing number of refurbishment projects in which energy renovation goes hand in hand with adapting workplaces, homes and public areas to contemporary uses.
VINCI Construction is tackling these challenges by transforming its design and production processes in order to reduce the environmental footprint of its activities as well as that of the buildings and infrastructure it develops. Initiatives to reduce direct emissions (Scopes 1 and 2), such as renewing the fleet of worksite equipment and vehicles, optimising worksite supply chains and transforming road asphalt plants, go hand in hand with the development of low-carbon-impact materials and construction methods (Scope 3). While still experimental a few years ago, different types of low-carbon concrete from the Exegy® range – which offer up to 70% lower CO2 emissions compared with traditional mix designs – are now commonly used in VINCI Construction building and infrastructure projects. The business line has committed to using 90% low-carbon concrete on its projects by 2030. It is also developing solutions with a reduced carbon footprint, such as timber construction (Arbonis), Rehaskeen® facades for thermal renovation of buildings, post-tensioned floor slabs (Freyssinet) or Terre Armée® structures which use reduced quantities of materials.
57 % Share of revenue from operations outside France in 2023.
