€116.760 The share price increased by +1.07 %   23/02/2024 17:35

Business model and strategy

Our challenges and opportunities

Our strengths

• Climate emergency
• Workplace and social expectations
• Urbanisation
• Mobility
• Digitalisation

• World leader in concessions, energy and construction
• Partner for the long term working in the public interest
• Local presence with global expertise
• Diversity of skills and areas of expertise
• Decentralised management and entrepreneurial culture
• 130-year history

Our strategy


Long cycles, high amounts of invested capital

• Renew and internationalise the concession portfolio, and extend its average maturity
• Focus growth primarily on transport infrastructure
• Seize opportunities in renewable energies


Short cycles, low amounts of invested capital

• Put priority on margins over business volume
• Practise disciplined risk management
• Strengthen the Group’s presence in high value-added segments, such as energy
• Diversify our geographical spread of expertise


• Bolster synergy in operations to win new projects
• Accelerate international growth
• Achieve targets to reduce CO2 emissions by 40% (Scopes 1 and 2) and 20% (Scope 3) by 2030, validated by the Science Based Targets initiative (SBTi)
• Optimise resources through the circular economy
• Preserve natural environments
• Promote inclusive growth and increase the number of women executives


Human capital

278,000 employees worldwide
18% of employees in management positions
22 hours of training each year per employee
2,500 health & safety specialists
44% of training on health & safety

Technical expertise

55 R&D programmes
€50 million budget for R&D
lab recherche environnement:
partnership with VINCI‑ParisTech established in 2008
Unparalleled array of expertise (underground projects, foundations, prestressing, geotechnical engineering, etc.)
Active partner in the global fund to develop clean hydrogen infrastructure

Strong local roots

• More than 314,000 worksites
4,000 business units
• More than 70 airports managed
400 quarries in operation
• More than 8,543 km of motorways
• Operations in more than 120 countries

Environmental ambition and resources

More than 800 environmental experts
38% of electricity consumption from renewable sources
More than 2,500 Environment Awards initiatives
42% EU Taxonomy-eligible revenue of which 20% is EU Taxonomy-aligned
44% EU Taxonomy-eligible CapEx (*) of which 12% is EU Taxonomy-aligned

(*) CapEx excluding acquisition of the concession rights to the airports from Mexican airport operator OMA.


Sales: €10.93 billion
20,459 employees

Design, financing, programme management and infrastructure operation
Sales: €25.82 billion
135,708 employees *

Digital transformation and energy transition
Sales: €31.46 billion
119,383 employees

Design and construction of buildings and infrastructure
Sales: €1.23 billion
1,359 employees

Real estate development


Human capital

2 milion integration hours managed
€450 million in incentive and retirement savings plans, employer contributions and profit-sharing in France
 €11.8 billion in employee remuneration (excluding Cobra IS)
9.9% of share capital owned by employees
66,146 new hires in permanent jobs
72% of Group companies with no lost-time workplace accidents
9,000 middle school students in the Give Me Five integration programme
1,570 employees involved in solidarity initiatives via the Group’s foundations
More than 4,000 long-term unemployed people supported each year on integration programmes
8,600 people under the age of 26 recruited

Technical expertise

2,500 patents in effect around the world
Leonard: 44 intrapreneurship projects supported in 2022 for a total of 150 since its inception, of which 16 have evolved into new business
lab recherche environnement: 70 research projects related to energy, biodiversity or mobility since 2008

Strong local roots

€34.9 billion in purchases
€3.3 billion in investments
65% of the Group’s approved suppliers are SMEs
17 foundations and sponsorship organisations worldwide
€35 billion contribution to GDP in France (at 31st December 2021)
Almost 50% of the Group’s purchases in France are from SMEs

Environmental ambition

13% reduction in CO2 emissions from 2018, adjusted for the impact of acquisitions
€5.5 billion of revenue in projects awarded with environmental certifications and labels
15% of recycled aggregate mix in VINCI Construction’s total production
41 airports using no phytosanitary products
69% of motorway rest areas equipped with electric vehicle charging stations
57% of VINCI Immobilier’s revenue generated through land recycling operations
More than 40% of training hours devoted to the environment


Customers Customer satisfaction and innovation
Employees The Group’s most valuable asset
Suppliers and subcontractors Local market players

Citizens Partners working in the public interest with a positive social and employment impact
Contributors to the energy transition
Investors Robust performance over the long term
Governments VINCI pays taxes in more than 100 countries. In France, VINCI ranks among the five biggest taxpayers


A resilient business model combined with a sustainable growth strategy

VINCI’s business model is stable in its fundamentals and can be applied to ever-expanding geographies and areas of expertise. This stability and versatility are what gives it such immense resilience. The Group’s strategy is to adapt and hone this robust model as it continues to develop across its three businesses – Concessions, Energy and Construction. VINCI is also harnessing its innovation capacity while engaging in the environmental transition to achieve responsible, sustainable growth.


VINCI’s business strategy has long been built around the complementary nature of its con­cessions, energy and construction activities. The Group has never ceased to expand its busi­ness model, moving from electricity concessions in the early 20th century into motorway, airport and renewable energy concessions in the 21st, and from building and infrastructure construc­tion into specialist activities in civil engineering and information technologies. As it has diversi­fied its areas of expertise, so has VINCI entered more and more international markets. In 2022, for the first time ever, the Group generated more of its revenue outside the country than in France – nearly 55%.
In addition to a broad range of businesses and markets, VINCI gains its resilience from its management approach. The Group’s highly decentralised organisation and supportive management culture give its companies and people tremendous agility in adapting to changes and unpredictability in their environment.
Drawing on these solid, shared fundamen­tals, VINCI will continue to implement its long-term strategy and to develop its three core businesses.


VINCI’s strategy for its Concessions business focuses on transport infrastructure. Like its con­cession contracts, this strategy is long-term. It aims to diversify, renew and internationalise the Group’s mix of concessions and extend the average maturity of its portfolio. VINCI’s fast growth in airport and motorway concessions since the 2000s, both in France and internationally, results from its steady implementation of this strategy.
To achieve its aims, the Group harnesses its integrated expertise – as an investor and devel­oper of projects, a designer and builder of infra­structure, and an infrastructure operator and maintenance provider – and combines this know-how with its partnership culture and experience collaborating with the local authorities and stake­holders in its ecosystems.
Since the integration of Cobra IS in 2022, this strategy has been applied to renewable energy projects. The Group is leveraging Cobra IS’s specialised range of activities to build a portfolio of electricity production assets. By the end of 2023, the total capacity of its photovoltaic projects in operation or under construction is expected to reach around 2 GW. The longer-term opportunities identified point to the significant growth prospects of this type of asset, in the context of a general shift toward developing renewable energies.
Structural demand for mobility, along with the large investments needed to adapt transport infrastructure to low-carbon uses while reinforcing its climate resilience, will also deliver a long-term boost to transport infrastructure concessions.
In all these sectors, new project development will benefit from synergies between the Concessions, Energy and Construction busi­nesses, building on their areas of expertise and established presence in the targeted regions.


VINCI has focused strategically on its energy activities since the early 2000s. This has resulted in the very sharp internal and external growth of VINCI Energies, whose expertise in energy infrastructure and information technology have proven to be fully aligned with fundamental market trends. The Group’s expansion in this area accelerated with the integration of Cobra IS, the former energy arm of the ACS group, on 1 January 2022. Cobra IS is a comple­mentary fit with VINCI Energies, with a strong foothold in the Iberian Peninsula and Latin America and a solid reputation for delivering large EPC (Engineering, Procurement and Construction) projects.
Spurred by this addition to its Energy busi­ness, VINCI will pursue growth in these markets, buoyed for the long term by the environmental transition and the continuous development of renewable energies.


VINCI Construction is one of the Group’s earliest businesses and where its entrepreneurial culture all started. Today, it is a global construction industry leader. The integration of Eurovia’s activities, in 2021, brought all of VINCI Construction’s building, civil engineering and infrastructure know-how into one business line. The new organisation creates internal synergies and facilitates innovation to develop efficient solutions for increasingly complex projects.
VINCI Construction will continue to develop its three pillars – major projects, networks of specialist subsidiaries and networks of local subsidiaries –, using this combined global and local approach to achieve optimal market coverage and extend the international reach of the Group’s activities. Targeted acquisitions may round out the Construction business line's presence and expertise.

Last updated: 08/02/2024