The financial statements at 31 December 2023 have been prepared in accordance with the general conventions required by France’s General Accounting Plan, as resulting from Regulation 2014-03 issued by the Autorité des Normes Comptables (ANC, the French accounting standards authority).
However, in a departure from the French General Accounting Plan and in order to improve the presentation of its financial statements, VINCI reports changes in provisions relating to a given income or expense item on the same line of the income statement as determined by its nature, which may be operating, financial, exceptional or tax.
The environmental risk assessment was taken into account when preparing VINCI SA’s financial statements and is consistent with the commitment made by the Group in this area. Factoring in these elements did not have any material impact in 2023.
VINCI’s parent company financial statements are presented in millions of euros, rounded to the nearest million. This may in certain circumstances lead to non-material differences between the sum of the figures and the subtotals that appear in the tables.
In February 2023, VINCI restructured the debt used to acquire London Gatwick airport by cancelling part of its cross currency swaps in a nominal amount of £1.4 billion, along with the related interest rate swaps. These transactions followed the partial early repayment of the loans granted by VINCI SA to VINCI Airports in an equivalent amount.
In December 2023, VINCI redeemed $70 million of bonds issued in November 2016 with a coupon of 2.89%.
As part of its Euro Medium Term Notes (EMTN) programme, VINCI SA carried out:
In December 2023, VINCI issued €300 million of floating rate notes in a transaction arranged by a core relationship bank, at a rate of 3 month Euribor plus 35 basis points and due to mature in 2026. The entire issue was swapped to a fixed rate of 3.445%.
The exceptional one year revolving credit facility arranged in July 2022, which had two six-month extension options and an amount of €2.5 billion, was not renewed when it expired in July 2023.
In April 2023, VINCI increased the capital of VINCI Concessions by €1.6 billion.
Under its share buy back programme, VINCI purchased 3,822,053 shares in the market for a total of €395 million, at an average price of €103.44 per share.
On 20 December 2023, VINCI cancelled 8.7 million treasury shares purchased for €835 million in total, thus at an average price of €95.93 per share.
As a result of those transactions, the gross carrying amount of treasury shares fell from €2,088 million at 31 December 2022 to €1,419 million at 31 December 2023.
At 31 December 2023, VINCI held 18,238,732 of its own shares (i.e. 3.10% of its capital) in treasury, with the gross carrying amount thus equal to €77.82 per share on average. Those shares are either allocated to covering share awards under long-term incentive plans and international employee share ownership plans or intended to be used as payment for acquisitions, sold or cancelled.
