The acceleration of the energy transition is contributing to the record-high order book of the Group’s energy subsidiaries.
Energy
Since the early 2000s, VINCI has focused strategically on its energy activities, leading to the sharp growth of VINCI Energies. The business line’s expertise and positioning as an integrator of tailored multi-technical solutions have proven to be fully aligned with the fundamental trends of energy transition and digital transformation. In addition, VINCI Energies implements a durable growth model that facilitates the continuous integration of new companies. Its companies are encouraged to nurture their own unique market position and skill set, while taking advantage of opportunities to collaborate with other companies in its network. VINCI Energies’ managerial environment supports this growth. In the space of 10 years, the business line has doubled its revenue and tripled its Ebitda.
The Group’s expansion in energy and digital businesses accelerated with the integration of Cobra IS, the former multi- technical services arm of Spanish group ACS, at the end of 2021. Cobra IS is a complementary fit with VINCI Energies, with a strong foothold in the Iberian Peninsula and Latin America and a solid reputation for delivering large engineering, procurement and construction (EPC) projects, such as building high-voltage lines and converter platforms for offshore wind farms. Driven by the same fundamental trends as VINCI Energies, Cobra IS’s business grew by nearly 30% from 2022 to 2024.
VINCI is leveraging Cobra IS’s expertise to build a portfolio of renewable energy production assets, mainly solar PV plants. At the end of 2024, its projects in operation or under construction had a combined capacity of 3.5 GW. This portfolio will steadily expand as the energy transition creates more and more needs.
In this positive environment, the two Energy business lines are on path to continue their sustained growth and generate high operating margins.
To reduce their carbon footprint, cities are prioritising projects to build and expand metro and tram lines.
Construction
VINCI Construction is one of the Group’s earliest businesses and where its entrepreneurial culture all started. Today, it is a global construction industry leader. Since 2021, the integration of Eurovia’s activities has brought all of VINCI Construction’s civil engineering, infrastructure and building know-how into one management division, creating internal synergies and facilitating innovation.
VINCI Construction will continue to develop its three pillars – Major Projects, Specialty Networks and Proximity Networks – using a combined global and local approach to achieve optimal market coverage and extend the international reach of the Group’s activities. Targeted external growth operations are set to deepen its areas of expertise and geographical presence, such as the new additions in 2024 in the nuclear engineering sector, in North America, and in the United Kingdom with the January 2025 acquisition of the public works company FM Conway.
In line with trends that are already under way, the environmental transition will spur the long-term development of construction activities, in infrastructure as well as building and urban development. Added to the challenges of transition in these areas are those posed by increasing urbanisation and the transformation of homes, workplaces and public areas.