Thanks to markets driven by the energy transition and digital transformation, VINCI Energies pressed ahead on its profitable growth path, confirming the value in its proposition and the strength of its business model.
VINCI Energies’ revenue grew by over 5% to €20.4 billion in 2024 while its Ebit margin continued to rise, reaching 7.2%.
Its remarkable results once again reflect its companies’ outstanding positions in structurally buoyant markets. The increasing importance of the energy transition and digital transformation agendas is benefiting all its major segments – Infrastructure, Industry, Building Solutions and ICT (Information and Communication Technology). It is taking full advantage of these enduring trends thanks to its wide spectrum of expertise, its ability to harness and assemble its diverse skills to address its customers’ needs, and its decentralised organisation that fosters connections among its 2,100 business units. VINCI Energies operates as a local partner to its customers, developing multi-technical and multi-site solutions to support them throughout the engineering, works, operation and maintenance phases of their projects. This business and organisational model generates over 200,000 contracts a year, which vary greatly but mostly involve flow business (customers it has worked with for over five years account for 80% of its revenue). Meanwhile, the business line’s broad geographical coverage – it is active in 61 countries and now generates 59% of its revenue internationally (46% in Europe outside France, 5% in North America and 8% in the rest of the world) – further enhances its resilience.
VINCI Energies’ strong corporate culture facilitates the integration of new companies by empowering them to develop their unique market position and skill set while tapping into new opportunities arising within the network. This longterm external growth strategy is ingrained in the business line’s DNA and it continued to pursue it in 2024, acquiring 34 companies representing fullyear revenue of €740 million. Its acquisitions over the past decade now generate close to €6 billion in revenue a year.
Infrastructure
Revenue in this segment grew to €6.2 billion, up 7% relative to 2023.
Energy infrastructure
With operations at every step of the generation, transmission, transformation, distribution and utilisation of electricity, VINCI Energies is enjoying the benefits of the energy transition and the steady expansion of low-carbon energies – particularly renewables. Most countries are committed to increasing the share of electricity in their energy mix, which is reflected in the upward trend in investments. The focus is on solar and wind farms, with projects growing in number and in size, but also on reconfiguring, extending and interconnecting electricity transmission and distribution infrastructure to accommodate an increasing share of intermittent renewable energies, while ensuring a constant balance between production and consumption. As a result, the business units that operate under the Omexom brand in nearly 40 countries saw robust business levels and completed or won a wide variety of projects.
- In France, a turnkey construction contract for one of the country’s largest solar power plants (200 MWp) for Photosol on a former military airbase in Creil (Oise), to be followed by operation and maintenance; numerous operations on behalf of energy distribution companies Enedis and RTE (transformer substations, monitoring and control systems).
- In Austria, delivery of a new high-voltage line (Salzburgleitung) to secure the country’s electricity supply, including a range of environmental protection measures, particularly in Alpine areas.
- In Sweden, relocation of lines and renovation and expansion of substations – including the Odensala substation, one of the biggest in the country – for operators Svenska Kraftnät and Sundsvall Elnät AB.
- In Portugal, construction of the Cavaleira (52 MW) and Alcochete (20 MW) solar power plants for Hyperion.
- In the Gulf States, construction of a series of overhead lines for the Gulf Cooperation Council Interconnection Authority (GCCIA), and burial of a 400 kV line in Bahrein.
- In Senegal, the new €200 million contract awarded by national operator Senelec for the deployment of 1,350 km of overhead and buried highand very-high-voltage lines, and eight transformer substations. The work will take three years to complete and involve upwards of 1,000 people.
- In Morocco, supply of renewable energy to the Casablanca seawater desalination plant, the largest of its kind in Africa, from the Bir Anzarane wind farm in the south of the country.
- In Canada, construction of a 58 km underground line as part of a Hydro-Québec interconnection project with New York in the United States, as well as a 120 kV underground line linking two substations in downtown Gatineau.
1 TCI+ is building 16.3 km of high-voltage lines as part of the Hertel–New York interconnection line between Canada and the United States.
2 Omexom is renovating or extending a number of high-voltage lines in Sweden.