In its accounts closing process, the Group now identifies the main climate risks in order to assess their potential impact on its financial statements. Specific information requests and areas for attention are included in the accounts closing instructions and disseminated to all Group subsidiaries, relating in particular to:
In general, the Finance Department works with the Environment Department, which has been allocated specific resources for this purpose, to ensure that the commitments made by the Group are consistent with their recognition in the financial statements. In VINCI’s view, its assessment of climate risks is taken into account correctly and is consistent with its commitments in this area. Factoring in these elements did not have any material impact on the Group’s 2024 financial statements.
The consolidation scope at 31 December 2024 broke down as follows:
| 31/12/2024 | 31/12/2023 | |||||
|---|---|---|---|---|---|---|
| (number of companies) | Total | France | Foreign | Total | France | Foreign |
| Controlled companies | 2,905 | 1,149 | 1,756 | 2,729 | 1,150 | 1,579 |
| Joint ventures(*) | 159 | 94 | 65 | 176 | 105 | 71 |
| Associates(*) | 68 | 18 | 50 | 59 | 15 | 44 |
| Total | 3,132 | 1,261 | 1,871 | 2,964 | 1,270 | 1,694 |
The main changes in consolidation scope in 2024 are detailed below.
VINCI Airports
Acquisition of control over Edinburgh airport
On 25 June 2024, VINCI Airports completed the acquisition of a 50.01% stake in Edinburgh Airport Limited, the freehold owner of Edinburgh airport, the largest airport in Scotland and the sixth largest in the United Kingdom.
VINCI Airports and Global Infrastructure Partners, acting on behalf of non-controlling shareholders, signed a shareholders’ agreement determining control over Edinburgh airport. That agreement covers matters including the composition of the board of directors, the ability to appoint certain key executives, including the chief executive officer (CEO), and a mechanism for approving substantive decisions such as those regarding the business plan and annual budget. In addition, a procedure has been established for resolving any disputes that may arise, which allows non-controlling shareholders, under certain conditions and after acceptance by VINCI, to sell their shares to VINCI. Based on these contractual provisions, Edinburgh airport has been fully consolidated in VINCI’s consolidated financial statements since 25 June 2024. The information required by IFRS 12 is provided in Note I.23.5, “Non-controlling interests”. The deal to take control of Edinburgh airport involved the Group buying shares for £1.3 billion in cash.
In accordance with IFRS 3, VINCI measured the identifiable assets and liabilities acquired at fair value, and determined the related deferred tax effects. Values were provisionally allocated to identifiable assets and liabilities on the date of the acquisition. They may be adjusted during the 12 months following that date on the basis of new information obtained relating to the facts and circumstances prevailing on the date of the acquisition.
As Edinburgh Airport Limited is the freehold owner of Edinburgh airport, it does not involve a service concession arrangement as defined by IFRIC 12. VINCI used the partial goodwill method. Accordingly, non-controlling interests were not remeasured at fair value.
