Revenue in the Energy business (VINCI Energies and Cobra IS) amounted to almost €27.5 billion, up 6.4% (up 5.1% like-for-like) relative to 2023.
Revenue in the Construction business totalled €31.8 billion, up 1.0% (up 0.6% like-for-like) compared with 2023.
| 2024/2023 change | ||||
|---|---|---|---|---|
| (in € millions) | 2024 | 2023 | Actual | Like-for-like |
| Concessions | 11,651 | 10,932 | +6.6% | +5.0% |
| VINCI Autoroutes | 6,585 | 6,324 | +4.1% | +4.1% |
| VINCI Airports | 4,526 | 3,947 | +14.7% | +11.0% |
| Other concessions | 540 | 661 | −18.2% | −22.3% |
| VINCI Energies | 20,373 | 19,327 | +5.4% | +3.9% |
| Cobra IS | 7,105 | 6,495 | +9.4% | +8.6% |
| VINCI Construction | 31,784 | 31,459 | +1.0% | +0.6% |
| VINCI Immobilier | 1,143 | 1,231 | −7.2% | −7.2% |
| Intercompany eliminations | (433) | (605) | ||
| Revenue(*) | 71,623 | 68,838 | +4.0% | +3.1% |
| Concession subsidiaries’ works revenue | 985 | 910 | +8.3% | +9.1% |
| Intercompany eliminations | (149) | (130) | ||
| Concession subsidiaries’ revenue derived from works carried out by non-Group companies | 837 | 780 | +7.2% | +8.2% |
| Total consolidated revenue | 72,459 | 69,619 | +4.1% | +3.1% |
VINCI Autoroutes: revenue totalled almost €6.6 billion, up 4.1% compared with 2023. Intercity traffic levels were stable over the full year (light vehicles up 0.1%, heavy vehicles down 0.8%), maintained in particular by a 2.1% increase in the fourth quarter (light vehicles up 2.3%, heavy vehicles up 1.0%). That resilience was especially notable since traffic levels in the first half were adversely affected by the road blockades organised by protesting farmers.
VINCI Airports: revenue was €4.5 billion, up 14.7% on an actual basis (up 11.0% like-for-like) compared with 2023. Passenger numbers continued to recover in almost all of the network’s 14 countries. Overall, VINCI Airports’ 72 airports welcomed more than 318 million passengers in 2024, an increase of 8.5% on 2023, making 2024 the year in which passenger numbers rose above their 2019 pre-Covid level. Those strong figures confirm VINCI Airports’ position as the world’s leading private airport operator.
Other concessions: revenue totalled €0.5 billion, down 18.2% compared with 2023. The main revenue contributors were Lima Expresa (which holds the concession for a section of the Lima ring road in Peru), Gefyra (which holds the concession for the Rio–Antirrio bridge in Greece), MESEA (the company in charge of maintaining and operating the South Europe Atlantic high-speed rail line between Tours and Bordeaux) and since April 2024 Northwest Parkway, which operates a section of the Denver ring road (Colorado, United States). VINCI Stadium’s business levels remained very limited because of the Paris 2024 Olympic and Paralympic Games, which occupied the Stade de France for nine months of the year. In addition, the base for comparison was high because of the Rugby World Cup, which was held in France in 2023.
This strong performance confirms the excellent position of VINCI Energies’ companies in some particularly dynamic markets that are being driven by the energy transition and digital transformation. VINCI Energies’ companies operate within a highly decentralised organisation and are taking full advantage of those favourable trends. In addition, the steady flow of acquisitions made by VINCI Energies over the years to increase its geographical coverage and bolster its expertise also had a positive effect. VINCI Energies completed 34 acquisitions in 2024 (34 in 2023), which boosted revenue by €305 million during the year (up 1.6%). Exchange rate movements had a slight negative impact (–0.1%).
All four of VINCI Energies’ business lines (Infrastructure, Industry, Building Solutions and ICT) achieved revenue growth.
Outside France (59% of the total), revenue was €12.0 billion, up 7.7% relative to 2023 (up 5.5% like-for-like). Business levels were well oriented in most geographical markets, and growth was particularly strong in Germany, the United Kingdom, Scandinavia and Eastern Europe.
In France (41% of the total), revenue was €8.4 billion, up 2.3% compared with 2023 (up 1.8% at constant scope), despite a high base for comparison (revenue in France in 2023 was 10% higher on a like-for-like basis than in 2022). Business levels were strong in Infrastructure, driven particularly by Grand Paris Express projects, and in Building Solutions (commercial property sector, facilities management). They also rose in Industry.
