| (in € millions) | Note | 2025 | 2024 |
|---|---|---|---|
| Consolidated net income for the period (including non-controlling interests) | Consolidated net income for the period (including non-controlling interests) Note
|
Consolidated net income for the period (including non-controlling interests) 2025 5,275 |
Consolidated net income for the period (including non-controlling interests) 2024 5,274 |
| Depreciation and amortisation | Depreciation and amortisation Note 4.3 |
Depreciation and amortisation 2025 4,206 |
Depreciation and amortisation 2024 3,998 |
| Net increase/(decrease) in provisions and impairment | Net increase/(decrease) in provisions and impairment Note
|
Net increase/(decrease) in provisions and impairment 2025 129 |
Net increase/(decrease) in provisions and impairment 2024 55 |
| Share-based payments (IFRS 2) and other restatements | Share-based payments (IFRS 2) and other restatements Note
|
Share-based payments (IFRS 2) and other restatements 2025 318 |
Share-based payments (IFRS 2) and other restatements 2024 230 |
| Gain or loss on disposals | Gain or loss on disposals Note
|
Gain or loss on disposals 2025 (63) |
Gain or loss on disposals 2024 (35) |
| Change in fair value of financial instruments | Change in fair value of financial instruments Note
|
Change in fair value of financial instruments 2025 15 |
Change in fair value of financial instruments 2024 78 |
| Share of profit/(loss) of companies accounted for under the equity method and dividends received from unconsolidated companies | Share of profit/(loss) of companies accounted for under the equity method and dividends received from unconsolidated companies Note
|
Share of profit/(loss) of companies accounted for under the equity method and dividends received from unconsolidated companies 2025 (341) |
Share of profit/(loss) of companies accounted for under the equity method and dividends received from unconsolidated companies 2024 (260) |
| Cost of net financial debt recognised | Cost of net financial debt recognised Note 5 |
Cost of net financial debt recognised 2025 1,247 |
Cost of net financial debt recognised 2024 1,191 |
| Capitalised borrowing costs | Capitalised borrowing costs Note
|
Capitalised borrowing costs 2025 (125) |
Capitalised borrowing costs 2024 (127) |
| Financial expense on lease liabilities and other liabilities | Financial expense on lease liabilities and other liabilities Note 6 |
Financial expense on lease liabilities and other liabilities 2025 185 |
Financial expense on lease liabilities and other liabilities 2024 185 |
| Current and deferred tax expense recognised | Current and deferred tax expense recognised Note 7.1 |
Current and deferred tax expense recognised 2025 2,661 |
Current and deferred tax expense recognised 2024 2,102 |
| Cash flow from operations before tax and financing costs | Cash flow from operations before tax and financing costs Note C.1 |
Cash flow from operations before tax and financing costs 2025 13,507 |
Cash flow from operations before tax and financing costs 2024 12,689 |
| Changes in operating working capital requirement and current provisions | Changes in operating working capital requirement and current provisions Note 19.1 |
Changes in operating working capital requirement and current provisions 2025 2,496 |
Changes in operating working capital requirement and current provisions 2024 2,311 |
| Income taxes paid | Income taxes paid Note
|
Income taxes paid 2025 (3,005) |
Income taxes paid 2024 (2,220) |
| Net interest paid | Net interest paid Note
|
Net interest paid 2025 (1,318) |
Net interest paid 2024 (1,177) |
| Dividends received from companies accounted for under the equity method | Dividends received from companies accounted for under the equity method Note
|
Dividends received from companies accounted for under the equity method 2025 282 |
Dividends received from companies accounted for under the equity method 2024 117 |
| Other long-term advances and associated interest payments (*) | Other long-term advances and associated interest payments (*)Note
|
Other long-term advances and associated interest payments (*)2025 (76) |
Other long-term advances and associated interest payments (*)2024 (6) |
| Net cash flows (used in)/from operating activities | Net cash flows (used in)/from operating activities Note I |
Net cash flows (used in)/from operating activities 2025 11,886 |
Net cash flows (used in)/from operating activities 2024 11,714 |
| Purchases of property, plant and equipment and intangible assets | Purchases of property, plant and equipment and intangible assets Note
|
Purchases of property, plant and equipment and intangible assets 2025 (3,011) |
Purchases of property, plant and equipment and intangible assets 2024 (2,878) |
| Proceeds from sales of property, plant and equipment and intangible assets | Proceeds from sales of property, plant and equipment and intangible assets Note
|
Proceeds from sales of property, plant and equipment and intangible assets 2025 179 |
Proceeds from sales of property, plant and equipment and intangible assets 2024 170 |
| Operating investments (net of disposals) | Operating investments (net of disposals) Note C.1.1 |
Operating investments (net of disposals) 2025 (2,832) |
Operating investments (net of disposals) 2024 (2,708) |
| Investments in concession fixed assets (net of grants received) | Investments in concession fixed assets (net of grants received) Note
|
Investments in concession fixed assets (net of grants received) 2025 (862) |
Investments in concession fixed assets (net of grants received) 2024 (1,174) |
| Financial receivables (PPP contracts and others) | Financial receivables (PPP contracts and others) Note
|
Financial receivables (PPP contracts and others) 2025 (311) |
Financial receivables (PPP contracts and others) 2024 (279) |
| Growth investments (concessions and PPPs) | Growth investments (concessions and PPPs) Note C.1.1 |
Growth investments (concessions and PPPs) 2025 (1,173) |
Growth investments (concessions and PPPs) 2024 (1,453) |
| Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) | Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) Note
|
Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2025 (1,449) (**) |
Purchases of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2024 (5,006) (***) |
| Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) | Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) Note
|
Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2025 290 |
Proceeds from sales of shares in subsidiaries and affiliates (consolidated and unconsolidated) 2024 122 |
| Cash and cash equivalents of acquired companies | Cash and cash equivalents of acquired companies Note
|
Cash and cash equivalents of acquired companies 2025 358 |
Cash and cash equivalents of acquired companies 2024 287 |
| Net financial investments (excluding financial debts transferred during business combinations) | Net financial investments (excluding financial debts transferred during business combinations) Note
|
Net financial investments (excluding financial debts transferred during business combinations) 2025 (801) |
Net financial investments (excluding financial debts transferred during business combinations) 2024 (4,596) |
| Other | Other Note
|
Other 2025 (305) |
Other 2024 (294) |
| Net cash flows (used in)/from investing activities | Net cash flows (used in)/from investing activities Note II |
Net cash flows (used in)/from investing activities 2025 (5,112) |
Net cash flows (used in)/from investing activities 2024 (9,051) |
| Share capital increases and decreases and repurchases of other equity instruments | Share capital increases and decreases and repurchases of other equity instruments Note
|
Share capital increases and decreases and repurchases of other equity instruments 2025 771 |
Share capital increases and decreases and repurchases of other equity instruments 2024 668 |
| Transactions in treasury shares | Transactions in treasury shares Note 23.2 |
Transactions in treasury shares 2025 (2,002) |
Transactions in treasury shares 2024 (1,912) |
| Capital increases and decreases of subsidiaries subscribed by third parties | Capital increases and decreases of subsidiaries subscribed by third parties Note
|
Capital increases and decreases of subsidiaries subscribed by third parties 2025 11 |
Capital increases and decreases of subsidiaries subscribed by third parties 2024 (2) |
| Acquisitions/disposals of non-controlling interests (without acquisition or loss of control) | Acquisitions/disposals of non-controlling interests (without acquisition or loss of control) Note
|
Acquisitions/disposals of non-controlling interests (without acquisition or loss of control) 2025 (19) |
Acquisitions/disposals of non-controlling interests (without acquisition or loss of control) 2024 (77) |
| Dividends paid | Dividends paid Note 24 |
Dividends paid 2025 (3,469) |
Dividends paid 2024 (3,472) |
|
to shareholders of VINCI SA |
to shareholders of VINCI SA Note
|
to shareholders of VINCI SA 2025 (2,665) |
to shareholders of VINCI SA 2024 (2,570) |
|
to non-controlling interests |
to non-controlling interests Note 23.5 |
to non-controlling interests 2025 (805) |
to non-controlling interests 2024 (902) |
| Proceeds from new long-term borrowings | Proceeds from new long-term borrowings Note 25.1 |
Proceeds from new long-term borrowings 2025 5,651 |
Proceeds from new long-term borrowings 2024 4,117 |
| Repayments of long-term borrowings | Repayments of long-term borrowings Note 25.1 |
Repayments of long-term borrowings 2025 (4,315) |
Repayments of long-term borrowings 2024 (1,993) |
| Repayments of lease liabilities and financial expense on lease liabilities | Repayments of lease liabilities and financial expense on lease liabilities Note
|
Repayments of lease liabilities and financial expense on lease liabilities 2025 (871) |
Repayments of lease liabilities and financial expense on lease liabilities 2024 (745) |
| Change in cash management assets and other current financial debts | Change in cash management assets and other current financial debts Note 25 |
Change in cash management assets and other current financial debts 2025 (26) |
Change in cash management assets and other current financial debts 2024 387 |
| Net cash flows (used in)/from financing activities | Net cash flows (used in)/from financing activities Note III |
Net cash flows (used in)/from financing activities 2025 (4,270) |
Net cash flows (used in)/from financing activities 2024 (3,027) |
| Other changes | Other changes Note IV |
Other changes 2025 (142) |
Other changes 2024 (40) |
| Change in net cash | Change in net cash Note I + II + III + IV |
Change in net cash 2025 2,363 |
Change in net cash 2024 (404) |
| Net cash and cash equivalents at beginning of period | Net cash and cash equivalents at beginning of period Note
|
Net cash and cash equivalents at beginning of period 2025 14,297 |
Net cash and cash equivalents at beginning of period 2024 14,701 |
| Net cash and cash equivalents at end of period | Net cash and cash equivalents at end of period Note 26.1 |
Net cash and cash equivalents at end of period 2025 16,660 |
Net cash and cash equivalents at end of period 2024 14,297 |
| (in € millions) | Note | 2025 | 2024 |
|---|---|---|---|
| Net financial debt at beginning of period | Net financial debt at beginning of period Note
|
Net financial debt at beginning of period 2025 (20,415) |
Net financial debt at beginning of period 2024 (16,126) |
| Change in net cash | Change in net cash Note
|
Change in net cash 2025 2,363 |
Change in net cash 2024 (404) |
| Change in cash management assets and other current financial debts | Change in cash management assets and other current financial debts Note
|
Change in cash management assets and other current financial debts 2025 26 |
Change in cash management assets and other current financial debts 2024 (387) |
| (Proceeds from)/repayment of loans | (Proceeds from)/repayment of loans Note
|
(Proceeds from)/repayment of loans 2025 (1,336) |
(Proceeds from)/repayment of loans 2024 (2,124) |
| Other changes | Other changes Note
|
Other changes 2025 286 |
Other changes 2024 (1,373) |
| of which related to share buy-back programmes | of which related to share buy-back programmes Note
|
of which related to share buy-back programmes 2025 0 |
of which related to share buy-back programmes 2024 592 |
| of which debts transferred during business combinations (*) | of which debts transferred during business combinations (*) Note
|
of which debts transferred during business combinations (*) 2025 (718) |
of which debts transferred during business combinations (*) 2024 (2,094) |
| of which changes in fair value | of which changes in fair value Note
|
of which changes in fair value 2025 88 |
of which changes in fair value 2024 12 |
| of which exchange rate effect and currency translation impact | of which exchange rate effect and currency translation impact Note
|
of which exchange rate effect and currency translation impact 2025 776 |
of which exchange rate effect and currency translation impact 2024 (117) |
| Change in net financial debt | Change in net financial debt Note
|
Change in net financial debt 2025 1,340 |
Change in net financial debt 2024 (4,289) |
| Net financial debt at end of period | Net financial debt at end of period Note 25 |
Net financial debt at end of period 2025 (19,075) |
Net financial debt at end of period 2024 (20,415) |
(*) Including acquisitions in 2024 of companies operating the Northwest Parkway section of the Denver ring road and Edinburgh airport. See Note B.2, “Changes in consolidation scope in previous periods”.
