VINCI Energies’ companies in France and abroad are benefiting from their positions in the highly buoyant energy efficiency and digital transformation markets, thanks to their wide-ranging expertise, their effective combination of global reach and local presence, and their decentralised management. All four of VINCI Energies’ business lines Infrastructure, Industry, Building Solutions and ICT (Information and Communication Technologies) achieved double-digit growth. Recent acquisitions of new companies (34 in 2023 and 31 in 2022) generated around €860 million of additional revenue in 2023, representing 5.2% of total growth. Exchange rate movements had a 0.7% negative impact.
In France (42% of the total), revenue was €8,170 million, up 10.9% compared with 2022 (up 10.2% at constant scope). Business levels were particularly firm for Infrastructure, driven particularly by Grand Paris Express projects, Industry and Building Solutions (tertiary sector, facilities management).
Outside France (58% of the total), revenue was €11,157 million, up 18.9% relative to 2022 (up 11.5% like-for-like). Business growth remained very strong in most regions and countries where VINCI Energies operates, particularly in Western Europe, Brazil and West Africa.
Cobra IS saw revenue growth across most of its geographies, in both flow business (63% of its revenue) and major EPC (engineering, procurement and construction) projects (37%).
In Spain (44% of the total), revenue rose by 16% to €2,866 million and came mainly from recurring flow business.
Outside Spain (56% of the total, of which 33% in Latin America), revenue totalled €3,629 million, up 19% on an actual basis and 20% on a like-for-like basis.
VINCI Construction benefited from its international exposure in 2023. Exchange rate movements had a 1.3% negative impact.
In France (43% of the total), revenue totalled €13,678 million, up 4.7% relative to 2022. Business levels remained firm in civil engineering structures and roadworks. In building, they were buoyed by rehabilitation and construction work on public and hospital buildings.
Outside France (57% of the total), revenue was €17,781 million, up 9.8% on an actual basis and 11.9% on a like-for-like basis relative to 2022. This reflects progress with several large civil engineering contracts in Europe, North America and Australia/New Zealand, along with solid business levels for the Specialty Networks and Proximity Networks divisions.
VINCI Immobilier was hit by a sharp decline in property transactions in France against a background of high interest rates, and its consolidated revenue amounted to €1,231 million, down 19.2% year on year.
Revenue, including the Group’s share of joint developments, fell by 14% to €1.4 billion in 2023, including a 21% fall in revenue recognised on a progress-towards-completion basis in the French residential segment and a 6% decline in the non-residential segment. However, the serviced residences business (Ovelia, Student Factory and Bikube) continued to grow, with 45 residences in operation (37 at the end of 2022) and around 20 under construction. The number of homes reserved in France was 4,214, down 30% on the 2022 figure of 6,059. However, the decline in reservations was limited at the end of the year by bulk sales of residential units to social housing providers. Work began on 3,972 homes, a decrease of 36% relative to 2022, and completed residential sales fell by 34% to 4,426.
