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VINCI acquires a 20% shareholding in the Budapest airport concession company and becomes the platform operator

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6 June 2024 - 5:45 pm - Acquisitions - Hungary

◼ Agreement signed by VINCI Airports to acquire a 20% shareholding in the Budapest airport concession company, making it the airport operator.
◼ A concession with a residual term of more than 55 years expiring in 2080.
◼ With a traffic of 16 million passengers in 2019, Budapest airport is one of the main airports in Central Eastern Europe.
◼ VINCI Airports, which has operations in Portugal, the United Kingdom, France and Serbia, consolidates its presence as a leading airport operator in Europe, handling a total of almost 154 million passengers1.

VINCI Airports, a subsidiary of VINCI Concessions, and Corvinus, an investment fund fully owned and managed by the Hungarian State, have jointly signed and closed the acquisition of the concessionaire of Budapest Liszt Ferenc International Airport from a consortium of sellers composed of AviAlliance, Malton and CDPQ.

The value of the 100% transaction is €3.1 billion (equity value), plus net debt of €1.2 billion2. Ebitda 2023 was €211 million. VINCI Airports and Corvinus purchased Budapest Airport on a pro rata basis and rolled over the existing debt of the company.

The residual term of the concession is over 55 years (expiring in 2080).

On completion of the transaction, Corvinus will own 80% of the concessionaire and VINCI Airports 20%.

Capital of Hungary, Budapest is the country's key entry point for air mobility: its airport handles 96% of the country's air traffic.

In 2023, traffic reached 90% of its pre-sanitary crisis level, while in the first four months of 2024 it exceeded 2019 traffic by more than 8% and 2023 traffic by 19%. The airport also has a positive outlook for the future, particularly in view of the development of tourism in the country.

As the platform operator, VINCI Airports will manage the platform and deploy its model, which aims to improve the customer experience and support traffic growth through appropriate investment.

An ambitious action plan will also be rolled out to achieve net zero emissions by 2030.

Through this acquisition, VINCI Airports, which has operations in Portugal, the United Kingdom, France and Serbia, is reinforcing its network in Europe, which now covers 26 platforms handling nearly 154 million passengers in 20231.

1 2023 data applied to 100% of the 2024 perimeter, thus including passengers from Budapest in 2023.
2 At the end of December 2023.


VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.