2024 Universal Registration Document

General and financial elements

1.1 Segment information by business line

The data below is for each Group business line and is stated before elimination, at their own level, of transactions with the rest of the Group.

2024
  Concessions Energy Construction  
(in € millions) VINCI Autoroutes VINCI Airports Other concessions VINCI Energies Cobra IS VINCI Construction VINCI Immobilier and holding companies Eliminations Total
Income statement  
Revenue (1) 11,651 20,373 7,105 31,784 1,143 (433) 71,623
Concession subsidiaries’ works revenue 985 - - - - (149) (2) 837
Total revenue 12,636 20,373 7,105 31,784 1,143 (582) 72,459
Operating income from ordinary activities 5,688 1,474 553 (3) 1,304 (22) (3) - 8,997
% of revenue (1) 48.8% 7.2% 7.8% 4.1% - - 12.6%
Recurring operating income 5,860 1,304 552 (3) 1,152 (18) (3) - 8,850
Operating income 5,866 1,288 553 (3) 1,151 (76) (3) - 8,783
   
Cash flow statement  
Cash flow from operations before tax and financing costs 7,773 1,794 702 1,985 435 - 12,689
% of revenue (1) 66.7% 8.8% 9.9% 6.2% - - 17.7%
Depreciation and amortisation 2,103 557 145 (3) 994 200 (3) - 3,998
Operating investments (net of disposals) (311) (249) (1,220) (921) (7) - (2,708)
Repayment of lease liabilities (4) (39) (383) (10) (262) (51) - (745)
Operating cash flow 4,626 1,622 301 796 917 - 8,261
Growth investments (concessions and PPPs) (1,072) 1 (349) (33) - - (1,453)
Free cash flow 3,554 1,623 (48) 762 917 - 6,808
   
Balance sheet  
Capital employed at 31/12/2024 47,688 4,280 4,865 685 1,884 - 59,401
of which investments in companies accounted for under the equity method 1,307 17 78 497 205 - 2,105
of which right-of-use assets in respect of leases 297 1,104 87 686 339 - 2,513
Net financial surplus (debt) (31,739) 761 547 4,116 5,901 - (20,415)
2023
  Concessions Energy Construction  
(in € millions) VINCI Autoroutes VINCI Airports Other concessions VINCI Energies Cobra IS VINCI Construction VINCI Immobilier and holding companies Eliminations Total
Income statement  
Revenue (1) 10,932 19,327 6,495 31,459 1,231 (605) 68,838
Concession subsidiaries’ works revenue 910 - - - - (130) (2) 780
Total revenue 11,842 19,327 6,495 31,459 1,231 (735) 69,619
Operating income from ordinary activities 5,373 1,356 490 (3) 1,260 (123) (3) - 8,357
% of revenue (1) 49.2% 7.0% 7.5% 4.0% - - 12.1%
Recurring operating income 5,456 1,221 495 (3) 1,111 (108) (3) - 8,175
Operating income 5,468 1,210 500 (3) 1,082 (189) (3) - 8,071
   
Cash flow statement  
Cash flow from operations before tax and financing costs 7,462 1,672 627 1,905 299 - 11,964
% of revenue (1) 68.3% 8.6% 9.6% 6.1% - - 17.4%
Depreciation and amortisation 2,012 509 125 (3) 940 213 (3) - 3,799
Operating investments (net of disposals) (223) (255) (715) (894) (16) - (2,103)
Repayment of lease liabilities (4) (37) (325) (18) (256) (42) - (679)
Operating cash flow 4,741 1,362 75 1,183 397 - 7,758
Growth investments (concessions and PPPs) (1,033) 1 (127) (29) - - (1,130)
Free cash flow 3,709 1,363 (52) 1,212 397 - 6,628
   
Balance sheet  
Capital employed at 31/12/2023 47,279 4,409 4,756 329 2,081 - 52,853
of which investments in companies accounted for under the equity method 553 18 77 469 149 - 1,267
of which right-of-use assets in respect of leases 293 939 73 606 284 - 2,195
Net financial surplus (debt) (28,734) 296 403 4,160 7,749 - (16,126)