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Business model and strategy

Our challenges and opportunities

Our strengths

• Urgence environnementale
• 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
• Reduce CO2 emissions by 40% by 2030 (Scopes 1 and 2)
• Optimise resources through the circular economy
• Preserve natural environments
• Promote inclusive growth and increase the number of women executives


Human capital

219,299 employees worldwide
21% of employees in management positions
19 hours of training each year per employee
2,500 health & safety specialists
37% 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.)
Global fund launched to develop clean hydrogen infrastructure

Strong local roots

• More than 280,000 worksites
3,200 business units
45 airports managed in 2021
360 quarries in operation
• More than 8,000 km of motorways
• Operations in some 120 countries

Environmental ambition and resources

800 environmental experts
25% of electricity consumption from renewable sources
• More than 2,500 Environment Awards initiatives
36% of revenue and 32% of CapEx eligible for European taxonomy


Sales: €7,046M
16,826 employees

Design, financing, programme management and infrastructure operation
Sales*: €15,097M
85,555 employees *

Digital transformation and energy transition
Sales: €26,282M
115,270 employees

Design and construction of buildings and infrastructure
Sales: €1,611M
1,248 employees

Real estate development
VINCI Immobilier


Human capital

2 milion integration hours managed
TOP employeur (2021 Universum ranking for France)
€358 million in incentive and retirement savings plans, employer contributions and profit-sharing in France
 €11 billion in employee remuneration
9.9% of share capital owned by employees
32,344 new hires in permanent jobs each year
73% of Group companies with no lost-time workplace accidents
4,000 middle school students in the Give Me Five integration programme
1,328 employees involved in solidarity initiatives via the Group’s foundations
More than 4,000 long-term unemployed people supported each year on integration programmes
6,590 people under the age of 26 recruited

Technical expertise

2,500 patents in effect around the world
Leonard: 45 intrapreneurship projects supported via four programmes, of which 16 have evolved into new VINCI companies or businesses
lab recherche environnement: 50 research projects related to energy, biodiversity or mobility since its inception

Strong local roots

€27.4 billion in purchases
€1.9 billion in investments
65% of the Group’s approved suppliers are SMEs
16 foundations and sponsorship organisations worldwide
€5.3 billion in total taxes paid in 2021
88% of contracts integrated responsible purchasing criteria during the tender process

Environmental ambition

8% reduction in CO2 emissions from 2018, excluding acquisitions
€5.2 billion of revenue generated covered by an environmental label
15% of recycled aggregate mix in VINCI Construction’s total production
37 airports using no phytosanitary products
55% of motorway rest areas equipped with electric vehicle charging stations
150 energy performance contracts in effect at VINCI Energies


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

Governments VINCI pays taxes in more than 100 countries. In France, VINCI ranks among the five biggest taxpayers
Society Contributor to the energy transition
Investors Robust performance over the long term


A resilient business model driving responsible and sustainable growth

Stable in its fundamentals, applied over time to ever-expanding geographies and areas of expertise, VINCI’s business model delivers tremendous resilience. The Group’s strategy is to further develop this robust model across all its business activities. Spurred by fast-emerging innovations, the ecological transition is driving the reshaping and sustainable growth of the Group’s businesses.


VINCI’s business strategy has developed historically from 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 in energy and information technologies.
As VINCI has diversified its areas of expertise, so has it entered more and more international markets. In 2021, the Group generated 47% of its revenue outside France, in some 120 countries, and in 2022, with the integration of Cobra IS (see page opposite), most of its revenue will be international. In addition to a broad range of businesses and markets, VINCI gains its resilience from its management structure.The Group’s highly decentralised organisation and supportive management culture give its companies and people tremendous agility in adapting to changes or uncertainty in their environment. Their responsiveness amid the unprecedented Covid-19 pandemic illustrated this clearly.
Drawing on these solid fundamentals, VINCI will continue to implement its long-term strategy and to take a balanced approach in developing its three core businesses.


VINCI’s strategy for its Concessions business is focused 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 motorway and airport concessions since the 2000s, both in France and internationally, results from the steady execution of this strategy.
To achieve these goals, 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.
VINCI will maintain this strategy and extend it to renewable energy infrastructure concessions, especially solar and wind projects. This is one reason for the acquisition of Cobra IS at the end of 2021. It reinforces the Group’s ability to grow in these markets driven by the low-carbon energy transition. The acquisition includes nine greenfield concession projects under development or construction, mainly consisting of electrical transmission networks, and a renewable energy project development platform.
Surging mobility demands and the investments needed to adapt infrastructure to climate change goals will also boost transport infrastructure concessions. In all these sectors, new project development will benefit from synergy with VINCI Construction and VINCI Energies, building on their areas of expertise and established presence in the targeted regions.


VINCI has placed a strategic focus onits energy activities since the early 2000s. As a result, VINCI Energies has experienced vigorous organic and external growth and tripled its revenue in 12 years. Its expertise in energy and information technologies has proven to be ideally aligned with the ecological transition and the digital transformation – two long-term trends that are currently shaping its products and services and feeding its future expansion.
The acquisition of ACS’s energy business, finalised at the end of 2021, is set to provide fresh impetus to VINCI’s development in this sector. The integration of Cobra IS will be a powerful driver of growth. Its business and geographical footprint are a complementary fit with VINCI Energies: it possesses acknowledged expertise in delivering large EPC (Engineering, Procurement and Construction) projects in the energy sector and is well established in the Iberian Peninsula and Latin America.


The 2021 creation of a new VINCI Construction division encompassing Eurovia’s business activities has bolstered the Group’s positions in the construction sector, in which it is a world leader. By merging all of the know-how involved in the construction of buildings, civil engineering structures and linear infrastructure into a single division, VINCI can effectively respond to the increasing complexity of these types of projects. The new organisation will promote internal synergy and innovation to deliver efficient solutions for transforming mobility and the built environment, accelerating the ecological transition.
VINCI Construction will continue to develop its three pillars – Major Projects, Specialty Networks and Proximity Networks –, 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 eventually round out the Construction division’s presence and expertise.

Last updated: 05/04/2022