Revenue at French giant nudges 拢55bn mark

French giant Vinci said income last year jumped 25% to nudge the 鈧�62bn (拢55bn) mark.

In results published yesterday, the construction and airports group said 2022鈥檚 income of 鈧�61.6.bn (拢54.5bn) was 28% up on the 鈧�48bn (拢42.5bn) it posted in 2019 鈥� before the pandemic hit.

Revenue at its construction arm, its biggest division, was up 11% to 鈧�29.3bn (拢26bn) last year, with 55% of its business, 鈧�16.2bn (拢14.3bn) coming from outside France.

old oak 1

Source: HS2 Ltd

Vinci is working to build a new station Old Oak Common, which will be finished several years before Euston. It will be the initial start and finish point of HS2 in the capital when it opens in 2028

It said business from its major projects division was on the rise which it said 鈥渞eflect[ed] progress with large contracts won previously鈥�. This includes work on its HS2 schemes, including the Old Oak Common station it is building with Balfour Beatty.

Operating profit at the group was up 45% to 鈧�6.8bn (拢6bn), beating the pre-pandemic number of 鈧�5.7bn (拢5bn). The construction arm last year made an operating profit of 鈧�1.1bn (拢974m), a rise of 14% on last time, with margins edging up from 3.7% to 3.8%.

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