Activity across the Energy business will continue to be driven by two deep-seated trends: the energy transition and digital transformation. These trends are generating a growing volume of projects in energy networks and infrastructure of all types, as well as in the industrial and building sectors, all of which are core markets for VINCI Energies and Cobra IS.
With an order book worth €16.5 billion at the end of 2024 (up 15% year on year), VINCI Energies looks set to post further growth in 2025, on a par with its performance in 2024. The business line will continue to deploy its external growth strategy, drawing on a decentralised organisation and an efficient management model calibrated to successfully integrate new businesses. Its Ebit margin is expected, at a minimum, to remain stable, and its proactive approach to supporting customers in their energy and digital transformation will foster momentum.
Thanks to its diverse flow business activities and its ability to carry out major turnkey projects, particularly in energy infrastructure, Cobra IS is also expected to continue growing, buoyed by an order book of €17.6 billion at the end of 2024 (up 22% against 2023). The business line is expected to earn revenue of at least €7.5 billion in 2025, while consolidating its high Ebit margin. In addition, it intends to continue developing its portfolio of mainly photovoltaic renewable energy assets to bring its capacity currently in operation or under construction to approximately 5 GW by the end of 2025, thus adding 1.5 GW compared to end-2024.
