| (in € millions) | VINCI Autoroutes | VINCI Airports | Other concessions(*) | Total |
|---|---|---|---|---|
| Gross | Gross VINCI Autoroutes
|
Gross VINCI Airports
|
Gross Other concessions (*)
|
Gross Total
|
| Au 01/01/2024 | Au 01/01/2024 VINCI Autoroutes 36,047 |
Au 01/01/2024 VINCI Airports 10,442 |
Au 01/01/2024 Other concessions (*)3,155 |
Au 01/01/2024 Total 49,644 |
| Acquisitions de la période(**) | Acquisitions de la période (**)VINCI Autoroutes 537 |
Acquisitions de la période (**)VINCI Airports 395 |
Acquisitions de la période (**)Other concessions (*)273 |
Acquisitions de la période (**)Total 1,206 |
| Disposals during the period | Disposals during the period VINCI Autoroutes (3) |
Disposals during the period VINCI Airports (18) |
Disposals during the period Other concessions (*)(2) |
Disposals during the period Total (22) |
| Currency translation differences | Currency translation differences VINCI Autoroutes - |
Currency translation differences VINCI Airports (512) |
Currency translation differences Other concessions (*)81 |
Currency translation differences Total (431) |
| Changes in scope and other | Changes in scope and other VINCI Autoroutes 20 |
Changes in scope and other VINCI Airports 238 |
Changes in scope and other Other concessions (*)1,340 |
Changes in scope and other Total 1,597 |
VINCI Autoroutes 36,602 |
VINCI Airports 10,544 |
Other concessions (*)4,847 |
Total 51,994 |
|
| Grants received | Grants received VINCI Autoroutes (29) |
Grants received VINCI Airports - |
Grants received Other concessions (*)(66) |
Grants received Total (95) |
| Au 31/12/2024 | Au 31/12/2024 VINCI Autoroutes 36,572 |
Au 31/12/2024 VINCI Airports 10,544 |
Au 31/12/2024 Other concessions (*)4,782 |
Au 31/12/2024 Total 51,898 |
| Acquisitions during the period(**) | Acquisitions during the period (**)VINCI Autoroutes 557 |
Acquisitions during the period (**)VINCI Airports 264 |
Acquisitions during the period (**)Other concessions (*)278 |
Acquisitions during the period (**)Total 1,099 |
| Disposals during the period | Disposals during the period VINCI Autoroutes (1) |
Disposals during the period VINCI Airports (248) |
Disposals during the period Other concessions (*)(0) |
Disposals during the period Total (249) |
| Currency translation differences | Currency translation differences VINCI Autoroutes - |
Currency translation differences VINCI Airports (135) |
Currency translation differences Other concessions (*)(197) |
Currency translation differences Total (332) |
| Changes in scope and other | Changes in scope and other VINCI Autoroutes 31 |
Changes in scope and other VINCI Airports 29 |
Changes in scope and other Other concessions (*)360 |
Changes in scope and other Total 421 |
VINCI Autoroutes 37,160 |
VINCI Airports 10,454 |
Other concessions (*)5,222 |
Total 52,836 |
|
| Grants received | Grants received VINCI Autoroutes (23) |
Grants received VINCI Airports - |
Grants received Other concessions (*)(150) |
Grants received Total (174) |
| Au 31/12/2025 | Au 31/12/2025 VINCI Autoroutes 37,136 |
Au 31/12/2025 VINCI Airports 10,454 |
Au 31/12/2025 Other concessions (*)5,072 |
Au 31/12/2025 Total 52,663 |
| VINCI Autoroutes |
VINCI Airports |
Other concessions (*) |
Total |
|
| Amortisation and impairment losses | Amortisation and impairment losses VINCI Autoroutes
|
Amortisation and impairment losses VINCI Airports
|
Amortisation and impairment losses Other concessions (*)
|
Amortisation and impairment losses Total
|
| 01/01/2024 | 01/01/2024 VINCI Autoroutes (18,424) |
01/01/2024 VINCI Airports (1,559) |
01/01/2024 Other concessions (*)(661) |
01/01/2024 Total (20,644) |
| Amortisation in the period | Amortisation in the period VINCI Autoroutes (1,301) |
Amortisation in the period VINCI Airports (259) |
Amortisation in the period Other concessions (*)(68) |
Amortisation in the period Total (1,627) |
| Impairment losses | Impairment losses VINCI Autoroutes (1) |
Impairment losses VINCI Airports (0) |
Impairment losses Other concessions (*)- |
Impairment losses Total (1) |
| Reversals of impairment losses | Reversals of impairment losses VINCI Autoroutes - |
Reversals of impairment losses VINCI Airports 80 |
Reversals of impairment losses Other concessions (*)3 |
Reversals of impairment losses Total 82 |
| Disposals during the period | Disposals during the period VINCI Autoroutes - |
Disposals during the period VINCI Airports 1 |
Disposals during the period Other concessions (*)2 |
Disposals during the period Total 3 |
| Currency translation differences | Currency translation differences VINCI Autoroutes - |
Currency translation differences VINCI Airports (13) |
Currency translation differences Other concessions (*)(21) |
Currency translation differences Total (34) |
| Other movements | Other movements VINCI Autoroutes (20) |
Other movements VINCI Airports 82 |
Other movements Other concessions (*)(67) |
Other movements Total (5) |
| 31/12/2024 | 31/12/2024 VINCI Autoroutes (19,747) |
31/12/2024 VINCI Airports (1,667) |
31/12/2024 Other concessions (*)(813) |
31/12/2024 Total (22,226) |
| Amortisation in the period | Amortisation in the period VINCI Autoroutes (1,378) |
Amortisation in the period VINCI Airports (221) |
Amortisation in the period Other concessions (*)(83) |
Amortisation in the period Total (1,682) |
| Impairment losses | Impairment losses VINCI Autoroutes - |
Impairment losses VINCI Airports (73) |
Impairment losses Other concessions (*)(115) |
Impairment losses Total (189) |
| Reversals of impairment losses | Reversals of impairment losses VINCI Autoroutes - |
Reversals of impairment losses VINCI Airports 62 |
Reversals of impairment losses Other concessions (*)- |
Reversals of impairment losses Total 62 |
| Disposals during the period | Disposals during the period VINCI Autoroutes - |
Disposals during the period VINCI Airports 150 |
Disposals during the period Other concessions (*)0 |
Disposals during the period Total 150 |
| Currency translation differences | Currency translation differences VINCI Autoroutes - |
Currency translation differences VINCI Airports 67 |
Currency translation differences Other concessions (*)11 |
Currency translation differences Total 78 |
| Other movements | Other movements VINCI Autoroutes (22) |
Other movements VINCI Airports 2 |
Other movements Other concessions (*)171 |
Other movements Total 151 |
| 31/12/2025 | 31/12/2025 VINCI Autoroutes (21,146) |
31/12/2025 VINCI Airports (1,681) |
31/12/2025 Other concessions (*)(828) |
31/12/2025 Total (23,655) |
| VINCI Autoroutes |
VINCI Airports |
Other concessions (*) |
Total |
|
| Net | Net VINCI Autoroutes
|
Net VINCI Airports
|
Net Other concessions (*)
|
Net Total
|
| 01/01/2024 | 01/01/2024 VINCI Autoroutes 17,623 |
01/01/2024 VINCI Airports 8,883 |
01/01/2024 Other concessions (*)2,494 |
01/01/2024 Total 29,000 |
| 31/12/2024 | 31/12/2024 VINCI Autoroutes 16,826 |
31/12/2024 VINCI Airports 8,877 |
31/12/2024 Other concessions (*)3,969 |
31/12/2024 Total 29,672 |
| 31/12/2025 | 31/12/2025 VINCI Autoroutes 15,990 |
31/12/2025 VINCI Airports 8,773 |
31/12/2025 Other concessions (*)4,244 |
31/12/2025 Total 29,007 |
Changes in scope in 2025 mainly consisted of:
In 2025, concession intangible assets added to the portfolio mainly consisted of the right to operate the Northwest Parkway section of the Denver ring road until 2106, at a cost of €1,266 million, and the balance of the upfront fee paid to the grantor for the 30-year extension of the airport concession contract in the Dominican Republic, at a cost of €423 million.
In 2025, acquisitions of concession intangible assets amounted to €1,099 million (€925 million net of grants received). They included investments by the ASF group for €451 million (€439 million in 2024), by VINCI Airports for €256 million (€379 million in 2024), by Cobra IS for €100 million (€92 million in 2024) and by Cofiroute for €72 million (€51 million in 2024).
Concession intangible assets include assets under construction for €1,680 million at 31 December 2025 (€1,912 million at 31 December 2024). These relate to VINCI Autoroutes subsidiaries for €668 million (including ASF for €487 million, Cofiroute for €104 million and Escota for €78 million) and VINCI Airports subsidiaries for €389 million (of which the company operating Belgrade airport for €141 million and ANA in Portugal for €126 million).
