VINCI announces 2017 Annual Results
The VINCI group announced on February 7th, 2018, its 2017 annual results.
VINCI’s performance in 2017 was outstanding, with strong growth in both recurring operating income (+10.2%) and net income (+15.2%).
Consolidated revenue amounted to €40.2 billion, a 5.7% increase on 2016. Like-for-like, revenue was up 4.4%. The 0.6% negative impact of currency movements was more than offset by a 1.9% boost from recent acquisitions.
Concessions revenue totalled €6.9 billion, up 10.3% on an actual basis or 5.9% like-for-like. VINCI Autoroutes’ revenue grew 3.2% to €5.3 billion, reflecting a 1.7% increase in traffic resulting mainly from strong momentum in heavy-vehicle traffic (up 4.3%). VINCI Airports’ revenue rose sharply (up 33.5%) to over €1.4 billion. That figure includes the full-year contributions of Aerodom (Dominican Republic) and Aéroports de Lyon. Like-for-like, VINCI Airports’ revenue rose 13.7%, driven by continuing strong growth in passenger numbers across all airports managed by the Group. Peruvian company Lamsac, integrated by VINCI Highways in December 2017, holds concessions for two sections of the Lima ring road (of which one is currently under construction). It contributed €85 million to VINCI Highways’ revenue in 2017.
VINCI Airports had another year of rapid growth, with passenger numbers across all airports managed by the Group rising 12.4% to 148.9 million after a 10.0% increase in 2016. Passenger growth at Portuguese airports remained particularly strong at 16.5%. Passenger numbers broke new ground, rising to over 50 million in Portugal, 25 million in Lisbon, 20 million in Santiago (Chile) and 10 million in Lyon-Saint Exupéry and Porto. The strong growth momentum continued in the fourth quarter, with an 11.9% increase in passenger numbers.
2018 outlooks: in 2018, VINCI expects further growth in consolidated revenue, as well as in overall operating income and net income. Passenger growth at VINCI Airports is likely to slow relative to 2017 because of a very high base for comparison.