A turnover of well over DKK 241 billion (32.4 billion Euro) in six months must be said to be on the good side. Managing Director and Chairman of the Board Xavier Huillard from VINCI also notes in the commentary that the latest half-year accounts from the French infrastructure and construction giant are an expression of an “overall performance of very high quality.”
Half of the revenue from construction
The contractor part, VINCI Construction, which is the part of the conglomerate that is part of FLC, accounts for 14.9 billion Euros for almost half of the total turnover. This is 12 percent better than the same period last year. VINCI Construction underwent a major reorganization two years ago, and this suggests that it was a sensible approach.
Progress outside France
VINCI Construction has received well over half of its turnover outside of France in the first half of the year.
This reflects progress on several major engineering contracts in Europe, North America and Australia/New Zealand, the half-year report said.
It is not clear from the half-year announcement how much the Fehmarn project takes up in the total accounts, but one of the completed projects in Europe is the element factory in Rødbyhavn.
Impressive order book
At the same time, the order book has also grown by 14.9 billion in the first half of 2023. This brings it up to a staggering total of 61.5 billion Euro. That is just under two billion Euros below Croatia’s gross domestic product.
Despite the impressive half-year accounts, according to the half-year announcement, VINCI maintains the overall expectations for 2023. However, with the addition that the free cash flow for 2023 is now expected to end “at the upper end” of the previously announced 4 – 4.5 billion Euros.
