Full Year 2024 Vinci SA Earnings Call Transcript
Key Points
- Vinci SA (VCISF) reported record levels of revenue and earnings for 2024, despite the impact of a new tax on French motorways.
- The company continues to expand internationally, with 58% of its business and over half of its net earnings now coming from outside France.
- Vinci Airports had an excellent year, with passenger numbers up 8.5% and EBITDA reaching an all-time high of EUR3.3 billion.
- Vinci Energy and Cobra reported strong performances, with significant growth in revenue and order intake, and improved EBIT margins.
- The company generated exceptional free cash flow of EUR6.8 billion, with a strong order book and 70% of orders coming from outside France.
- Vinci Autoroutes faced challenges with traffic disruptions and a EUR284 million tax, leading to a decrease in EBITDA, EBIT, and net income.
- Vinci Real Estate is still experiencing a serious crisis, with a decline in revenue and nonrecurring charges impacting financial performance.
- The company faces potential risks from increased taxation in France, which could impact future profitability.
- There is uncertainty regarding the long-term attractiveness of toll road assets due to political and regulatory challenges.
- Vinci Construction experienced volatility in 2024, with challenges in Africa and potential impacts from French local election cycles.
(interpreted) Good morning, everyone. Thanks for joining us for the full year results of 2024. I'm with Christian Labeyrie, probably the last time, that's for me, you have all the ExCo and the heads of divisions and Pierre Anjolras, also José MarÃÂa Castillo, who's there at the back of the room, and will be available to answer your questions.
So first of all, a few images and image of the VINCI Autoroutes charging stations that are all equipped with 2,100 charging stations, 90% ultrafast, not just in rest areas -- service areas, 21 are equipped. So I think we can say that we're the best equipped global network in charging stations just to encourage you to buy a new vehicle.
Especially once you bought the vehicle, you take the ULIS electric option which allows you not only to identify all the charging stations on the highway network and also off the highway, making available, its power and availability allows you to
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