Vinci Profit Jumps as Traffic Recovers
July 29 2022 - 1:35AM
Dow Jones News
By Ed Frankl
Vinci SA said Friday that first-half profit jumped as its
earnings improved across the board and traffic recovered in its
travel businesses.
The French infrastructure company said net profit in the six
months to the end of June came to 1.90 billion euros ($1.94
billion) as revenue at its energies and construction divisions rose
8% and 11%, respectively, compared with EUR682 million in the same
period last year.
Revenue rose 26% to EUR28.52 billion, partly through the
integration of the energy company Cobra IS after its acquisition in
2021, Vinci said.
Traffic at its autoroutes segment was ahead of 2019 levels, with
traffic at airports still lagging 2019's by 36%, with the company
saying earnings and cash flow there "recovered spectacularly" due
to the year-on-year upturn in passengers and impact of cost-cutting
plans. Traffic at both segments was ahead of 2021.
Vinci confirmed its full-year guidance of net income to be
higher than pre-pandemic levels of 2019.
It proposed an interim dividend of EUR1 per share to be paid on
Nov. 17.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
July 29, 2022 02:20 ET (06:20 GMT)
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