Vinci SA
| File:Vinci logo.svg Logo of Vinci | |
| Company type | Société anonyme |
|---|---|
| Industry | Concessions, Construction |
| Founded | 1899 |
| Founder | Alexandre Giros, Louis Loucheur |
| Headquarters | Nanterre , France |
Area served | Worldwide |
| Products | Construction, concessions, infrastructure management |
Number of employees | 279,426 (2023) |
| Website | www |
Vinci (; officially branded as VINCI) is a French company specializing in concessions and construction, established in 1899 under the name Société Générale d'Entreprises. Its headquarters are located in Nanterre, close to Paris. Vinci is listed on Euronext Paris and forms part of the Euro Stoxx 50 stock market index.
History
The company was originally created in 1899 by Alexandre Giros and Louis Loucheur as Société Générale d'Entreprises S.A. (SGE). From 1966 to 1981, it was owned by Compagnie générale d'électricité (CGE), which later became Alcatel-Lucent. In 1981, Saint-Gobain took a controlling interest.
SGE grew through several acquisitions, including Sogea in 1986, Campenon Bernard in 1988, and the UK-based Norwest Holst in 1991. In 1988, it was purchased by Compagnie générale des eaux (which later became Vivendi), and in 2000, it was rebranded as Vinci.
In 2001, Vinci expanded by acquiring Groupe GTM, merging Dumez with GTM, and renaming Norwest Holst to Vinci plc in 2002. Later acquisitions included Autoroutes du Sud de la France in 2006, the geotechnical firm Bachy-Soletanche in 2007, and Taylor Woodrow Construction’s UK division in 2008.
Between 2009 and 2010, Vinci further extended its portfolio by acquiring segments of contractor Haymills, purchasing French engineering company Cegelec for €1.18 billion, acquiring Tarmac's European aggregates business for £250 million, and buying Meteor Parking from the Go-Ahead Group. Additionally, Vinci secured significant contracts for London's Crossrail project during the early 2010s.
In 2012, Vinci acquired ANA Aeroportos de Portugal for €3.08 billion. The following year, it won a €440 million contract to construct an express-lane highway system in Atlanta, Georgia. In 2014, Vinci sold a 75% stake in Vinci Park and divested the remaining shares by 2016, after which the business was renamed Indigo.
In collaboration with Orix, Vinci secured an $18 billion contract in 2015 to manage Itami and Kansai International Airports in Japan. The company further broadened its airport operations through a 30-year concession for Salvador International Airport in Brazil announced in 2017. That same year included acquisitions of Australian construction firm Seymour Whyte and Swedish electrical companies Eitech and Infratek.
From 2017 through 2020, Vinci took part in the UK's High Speed 2 initiative via a joint venture with Balfour Beatty and Systra. In May 2019, Vinci acquired a majority stake of 50.01% in Gatwick Airport, pledging £1.1 billion toward passenger facility enhancements by 2023.
The COVID-19 crisis impacted Vinci's operations in 2020; the company contributed to building specialized hospitals within the UK. In October of that year, Vinci proposed €5.2 billion to purchase ACS Group's ACS Industrial division; this acquisition was finalized early in 2021 and resulted in a joint venture dedicated to renewable energy projects.
In April 2021, Vinci obtained a concession lasting three decades to operate seven airports across Brazil, including Manaus-Brig. Eduardo Gomes International Airport. Most recently, in October 2024, Vinci agreed to acquire FM Conway.
Ownership
As of December 31, 2019, VINCI's ownership distribution was as follows: foreign institutional investors held 57.2%, French institutional investors accounted for 17.1%, employees owned 8.8%, treasury shares represented 8.3%, individual shareholders held 6.8%, and the Qatar Investment Authority possessed a 5% stake.
Financial data
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 33,571 | 36,956 | 38,634 | 40,338 | 38,703 | 38,518 | 38,073 | 40,248 | 43,519 | 48,053 | 43,234 | 49,396 | 61,675 | 68,838 |
| Operating income (EBIT) | 3,434 | 3,660 | 3,651 | 3,767 | 4,243 | 3,715 | 4,118 | 4,607 | 4,997 | 5,734 | 2,459 | 4,723 | 6,824 | 8,357 |
| Net income | 1,776 | 1,904 | 1,917 | 1,962 | 2,486 | 2,046 | 2,505 | 2,747 | 2,983 | 3,260 | 1,015 | 2,597 | 4,259 | 4,702 |
| Net debt | 13,060 | 17,164 | 16,210 | 17,552 | 17,134 | 15,001 | 13,938 | 14,001 | 15,554 | 21,654 | 17,989 | 19,266 | 18,536 | 16,126 |
| Employees | 179,527 | 183,320 | 192,701 | 190,704 | 185,293 | 185,452 | 183,487 | 194,428 | 211,233 | 222,397 | 217,731 | 219,299 | 271,648 | 279,426 |
Source: VINCI
Competitors
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VINCI Autoroutes
Vinci Airports
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valign=top| VINCI Energies Within France:
Internationally:
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valign=top| EUROVIA In France:
Outside France:
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valign=top| VINCI Construction In France:
Abroad:
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Source: VINCI Annual report 2016
Turnover analysis
In the year 2013 the turnover distribution was as follows: construction and project design accounted for approximately 35.5%, energy and telecommunications infrastructure services through Vinci Energies made up around 26.5%, transport infrastructure construction and upkeep via Eurovia contributed about 19.7%, infrastructure management under Vinci Concessions represented roughly 16.3%, while other activities comprised the remaining 2%. Geographically speaking: nearly 59% of revenue originated from France; Europe contributed about a quarter (25.4%), with smaller proportions from North America (3.9%), Africa (3.5%), and other global regions (8.3%).
Regarding the UK market in the year 2020 Vinci UK recorded a turnover of £858.5 million alongside a pre-tax profit of £16.2 million; nevertheless by the year 2024 it encountered two successive years of losses culminating in a £51.4 million pre-tax deficit on £1.34 billion revenue in the year ending in 2023.
At the beginning of the year 2024 VINCI reported a turnover increase of twelve percent reaching €69 billion—its highest level in twelve years—underscoring robust business growth and margin enhancement within its construction divisions.
Notable projects
Over the years VINCI and its antecedent entities have been involved in numerous significant projects such as:
- Gariep Dam (1971)
- Tour Montparnasse (1972)
- Centre Georges Pompidou (1977)
- Yamoussoukro Basilica (1989)
- Louvre visitor entrance (1989)
- Channel Tunnel (1994)
- Pont de Normandie (1995)
- Stade de France (1998)
- Rio–Antirrio bridge (2004)
- Whiston Hospital (2013)
- Atlantic Bridge, Panama (2019)
Criticism
Vinci is actively engaged in building the initial 43 km segment of the Moscow-Saint Petersburg motorway, which passes through the ecologically sensitive Khimki Forest. This initiative has been met with resistance from approximately 75% of Khimki's population, equating to around 208,000 residents. The project has incited demonstrations and accusations of human rights violations, including the detention and assault of journalists and activists.
Additionally, Vinci encountered opposition regarding its airport development at Notre-Dame-des-Landes near Nantes. This facility, intended to become France's third-largest airport, would occupy 2,000 hectares of forest and marshland with considerable environmental significance. The public-private venture, designed to generate profits for Vinci, sparked protests in November 2012 against the displacement of local farmers and villagers, who garnered support both nationally and internationally.
Vinci's affiliates Norwest Holst and Taylor Woodrow were linked to the unlawful construction industry blacklist revealed in the UK in 2009. Following this, Vinci collaborated with seven other companies in establishing the Construction Workers Compensation Scheme in 2014. However, this initiative was denounced by the GMB union as a mere "PR stunt" and criticized by the Scottish Affairs Committee as "an act of bad faith."
Russian invasion of Ukraine
In light of the conflict in Ukraine, Vinci SA has come under examination for continuing its operations in Russia. Although the company has ceased new investments, it maintains business activities through its subsidiaries, prompting questions about its ethical obligations and sustained involvement in the region.