VINCI’s performance in 2025 was outstanding. Revenue growth was accompanied by a further improvement in operating earnings. Despite the tax burden in France, net income was higher than in 2024, free cash flow hit a record €7 billion and net financial debt fell by €1.3 billion.
In a turbulent global macroeconomic and geopolitical environment, the Group’s decentralised and multi-local organisation once again showed its merits.
The successful integration of recent acquisitions and firm growth in the Energy Solutions and Concessions businesses further strengthened the Group’s footprint in international markets, where it now generates almost 60% of its revenue and over 50% of its net income.
In mobility infrastructure, VINCI concluded important agreements with the competent authorities that provide greater visibility on contracts as well as promising growth prospects: in France with Cofiroute’s additional investment plan and Escota’s maintenance and end-of-concession plan; in the UK with the approved plan to bring the Northern Runway into routine use at London Gatwick airport; in Mexico with the approval of the Master Development Program for OMA’s airports. This contractual dynamic is in line with VINCI’s strategy of creating value in its long-term activities.
Furthermore, to enhance its returns on investment and help give greater clarity to its activities, the Group is carrying out portfolio reviews in its three businesses. Depending on the outcomes, VINCI could decide to increase its interests in certain assets or dispose of others.
VINCI has entered 2026 with serenity, discipline and bold purpose. Guided by a long-term vision and buoyed by the energy transition, digital transformation, mobility needs and sovereignty challenges, the Group will continue to strengthen its leading positions, combining operational excellence with value creation and all-round performance.
Pierre Anjolras
Chief Executive Officer
