Collateral security (in the form of pledges of shares and mortgages on land and buildings) is generally provided to secure financing granted to concession-holding subsidiaries, and breaks down as follows:
| (in € millions) | Start date | End date | Amount |
|---|---|---|---|
| London Gatwick airport (United Kingdom) | London Gatwick airport (United Kingdom) Start date 2011 |
London Gatwick airport (United Kingdom) End date 2049 |
London Gatwick airport (United Kingdom) Amount 2,559 |
| Edinburgh airport (United Kingdom) | Edinburgh airport (United Kingdom) Start date 2015 |
Edinburgh airport (United Kingdom) End date 2039 |
Edinburgh airport (United Kingdom) Amount 809 |
| Aerodom (Dominican Republic) | Aerodom (Dominican Republic) Start date 2024 |
Aerodom (Dominican Republic) End date 2034 |
Aerodom (Dominican Republic) Amount 586 |
| Arcour (France) | Arcour (France) Start date 2008 |
Arcour (France) End date 2047 |
Arcour (France) Amount 546 |
| OMA (Grupo Aeroportuario del Centro Norte – Mexico) | OMA (Grupo Aeroportuario del Centro Norte – Mexico) Start date 2025 |
OMA (Grupo Aeroportuario del Centro Norte – Mexico) End date 2034 |
OMA (Grupo Aeroportuario del Centro Norte – Mexico) Amount 415 |
| Arcos (France) | Arcos (France) Start date 2018 |
Arcos (France) End date 2045 |
Arcos (France) Amount 346 |
| Lima Expresa (Peru) | Lima Expresa (Peru) Start date 2016 |
Lima Expresa (Peru) End date 2037 |
Lima Expresa (Peru) Amount 336 |
| Belgrade airport (Serbia) | Belgrade airport (Serbia) Start date 2018 |
Belgrade airport (Serbia) End date 2035 |
Belgrade airport (Serbia) Amount 291 |
| Concessionária dos Aeroportos da Amazônia (Brazil) | Concessionária dos Aeroportos da Amazônia (Brazil) Start date 2022 |
Concessionária dos Aeroportos da Amazônia (Brazil) End date 2046 |
Concessionária dos Aeroportos da Amazônia (Brazil) Amount 122 |
| Other concession companies | Other concession companies Start date
|
Other concession companies End date
|
Other concession companies Amount 436 |
| Total | Total Start date
|
Total End date
|
Total Amount 6,446 |
Other security interests related to the funding of concession projects have been granted in an amount of €633 million, mainly involving Northwest Parkway in relation to its operation of the section of the Denver ring road in the US state of Colorado (€305 million).
At 31 December 2025, the Group’s share of the investment undertakings made by these companies amounted to €283 million as opposed to €445 million at 31 December 2024, an amount that included undertakings made by Entrevias, which holds the concession for two toll highway sections in Brazil and which has been fully consolidated in the Group’s financial statements since October 2025. The decrease in other undertakings reflects progress on works, including those being carried out by Kansai Airports in Japan and on the B247 federal road project in Germany.
Collateral security has been granted in the form of pledges of shares in companies accounted for under the equity method. The net carrying amount of the shares pledged at 31 December 2025 was €98 million (€125 million at 31 December 2024) and included shares in Olympia Odos (the company operating the toll motorway currently connecting Elefsina, Corinth and Patras in Greece) for €65 million and in WVB East End Partners (the company holding the concession for the Ohio River Bridges – East End Crossing project in the United States) for €13 million.
€58 million of corporate guarantees have also been granted by VINCI Concessions.
The Group has made commitments to provide funding (capital and/or subordinated loans) to companies accounted for under the equity method. At 31 December 2025, those commitments amounted to €21 million (€47 million at 31 December 2024). They relate in equal proportions to the B247 federal road project in Germany and to the Colombian company Constructora Conconcreto.
