VINCI announces 2016 financial results 10 February 2017

The VINCI Group has announced its 2016 financial results on February 7th,2017.

VINCI’s performance in 2016 was outstanding, with strong growth in both recurring operating income (+10.0%) and net income (+16.2%)5, while free cash flow remained at a high level6. Consolidated revenue totalled €38.1 billion, down 1.2% relative to 2015. The 1.8% like-for-like7 decline in revenue and […]

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The VINCI Group has announced its 2016 financial results on February 7th,2017.

VINCI's performance in 2016 was outstanding, with strong growth in both recurring operating income (+10.0%) and net income (+16.2%)5, while free cash flow remained at a high level6. Consolidated revenue totalled €38.1 billion, down 1.2% relative to 2015. The 1.8% like-for-like7 decline in revenue and the negative impact of exchange rate movements (-1.2%) were partly offset by the positive impact of recent acquisitions (+1.9%).

Concessions revenue totalled €6.3 billion, up 8.5% on an actual basis or 6.5% like-for-like. VINCI Airports' revenue broke through the €1 billion barrier, jumping 28.6% to €1,055 million on the consolidated perimeter. That figure includes the contributions of Aerodom (Dominican Republic) and Aéroports de Lyon, which were consolidated for the first time in 2016, from April and November respectively. Like-for-like, VINCI Airports' revenue rose 14.2%, driven by continuing strong growth in passenger numbers. Peruvian company Lamsac, which holds the concession for a section of the Lima ring road, had little impact on the Group's 2016 revenue since its acquisition by VINCI Highways was not completed until the last few days of the year.

At the end of the year, the Group also completed the bulk of the work on the South Europe Atlantic high-speed rail line connecting Tours and Bordeaux. Testing is now taking place on the new line and it is expected to come into service in July 2017.

In 2017 as a whole, VINCI expects consolidated revenue, operating income and net income to rise. Revenue evolution in the Concessions business, will remain positive, although given the very high base for comparison growth is likely to be slower in 2017 than in 2016. Revenue will also benefit from the full-year impact of acquisitions made in 2016 (Aerodom, Aéroports de Lyon, Lamsac).

The press release is available on www.vinci.com