The financial statements at 31 December 2024 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 regard. Factoring in these elements did not have any material impact in 2024.
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 January 2024, VINCI SA renegotiated its syndicated revolving credit facility. Given the large amount of available cash held by the Group, the amount of the credit facility was reduced from €8 billion to €6.5 billion. Its expiry was also extended until January 2029, with two further extension options of one year each. The first option was exercised in January 2025, which means that the credit facility is currently due to expire in January 2030.
As part of its Euro Medium Term Notes (EMTN) programme, VINCI SA carried out seven private placements, with a total amount of €1.2 billion and an average maturity of 3.1 years:
In April 2024, VINCI paid €34 million to acquire a stake in NatPower, an independent renewable energy development platform, and purchased €30 million of bonds convertible into shares.
VINCI increased the capital of VINCI Concessions by €1.5 billion in June 2024, and that of VINCI Immobilier by €150 million in July 2024.
In addition, a review of the value of VINCI’s investment in VINCI Autoroutes led to the recognition of an impairment loss of €650 million in 2024, bringing the net carrying amount of the investment to close to €5.3 billion at 31 December 2024.
Under its share buy-back programme, VINCI purchased 17,900,109 shares in the stock market for a total of €1,906 million, at an average price of €106.46 per share.
On 13 June 2024, VINCI cancelled 5.7 million treasury shares purchased for €645 million in total, thus at an average price of €112.67 per share, and on 18 December 2024 it cancelled 8.1 million treasury shares purchased for €850 million in total, thus at an average price of €105.19 per share.
As a result of those transactions, the net carrying amount of treasury shares rose from €1,419 million at 31 December 2023 to €1,566 million at 31 December 2024.
At 31 December 2024, VINCI held 19,399,436 of its own shares (i.e. 3.33% of its capital) in treasury, with the net carrying amount thus equal to €80.74 per share on average. Those shares are allocated first and foremost to covering share awards under long-term incentive plans and international employee share ownership plans. They may also be exchanged as part of acquisition transactions, sold or cancelled.
