Vinci's market cap, dividends, sales and earnings in 2020

  •   DEHOUI Lionel

The Vinci Group is the world's second largest concession and construction company. It reports a strong presence in more than 100 countries around the world. However, the company's business was severely disrupted by the health crisis in 2020. Find out more about the group's annual results for this year here.

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Vinci's market cap, dividends, sales and earnings in 2020
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Turnover down in fiscal year 2020

For the full twelve months of its 2020 financial year, the Vinci group achieved a consolidated turnover of €43.2 billion. 43.2 billion, a decline of 10.0% (on an actual basis) compared with the previous year. In France, the company's activity fell sharply by 12.9% over the year.

Internationally, it fell by 6.5%. The proportion of turnover recorded outside France thus increased to 47%, compared with 45% a year earlier. On a like-for-like basis, the company's annual turnover was down 11.1%, after neutralising changes in the scope of consolidation (+1.9%) and exchange rate differences (-0.8%).

 

Details of turnover by group activity

In 2020, the Concessions business generated revenue of €5.8 billion. 5.8 billion, down 31.7% on an actual basis and 33.5% on a comparable basis. This segment includes the performance of Vinci Autoroutes, which fell by 17.5% to €4.6 billion, and Vinci Airports, which declined by 62.4% to €1.0 billion.

36.9 billion, a limited decline of 5.2% (-5.9% on a comparable structure basis). In France, the division's turnover fell by 10.6% to €17.5 billion. Internationally, the turnover recorded in the contracting sector was stable compared to 2019.

19.4 billion in 2020, representing 53% of the total, compared with 50% the previous year. For its part, the Vinci Immobilier division reported revenue of €1.2 billion for the 2020 financial year, down 9.9% year-on-year.

This decline is due in particular to the health crisis, which has impacted the signing of deeds of sale and the production of residential and commercial property sites. Also, the Covid-19 pandemic penalised the operating activity of managed residences.

 

Performance of other economic indicators

In 2020, Vinci recorded consolidated net income, group share, of €1.2 billion, compared with €3.3 billion in the previous year. Net earnings per share amounted to €2.20, compared with €5.82 a year earlier. For its part, consolidated Ebitda came to 5.9 billion euros compared with 8.5 billion euros in 2019.

It represented 13.7% of turnover, compared with 17.7% the previous year. For the full year 2020, the company generated operating profit from ordinary activities (ROPA) of €2.9 billion, compared to €5.7 billion a year earlier. It was 6.6% of annual revenue, compared with 11.9% in 2019.

For the year 2020, the company's current operating result (ROC) stands at €2.5 billion, compared to €5.7 billion for the previous year. In addition to the impact of share-based payments (IFRS 2), it includes the negative contribution of equity-accounted subsidiaries.

This is particularly noted in the airport sector. As a reminder, this contribution was positive in 2019.

 

Increase in order intake and backlog

Over the whole of 2020, the Vinci group's order intake in the contracting sector reached €43.5 billion. They increased by 4% over one year. Internationally, they rose by 14%, offsetting the 6% decline in France.

By division, order intake increased by 2% for Vinci Energies. This increase was driven by infrastructure and ICT (Information Communication Technologies) activities internationally. At Eurovia, orders fell by 7% over the year. This was due in particular to the fact that new projects were not launched by local authorities because of the post-election context in France.

For Vinci Construction, order intake grew by 14% in 2020. This performance was helped by the award of major contracts in France and abroad. At the end of the year, the contracting order book stood at €42.4 billion.

42.4 billion, a record level and a 16% increase over 2019. In France, the order book grew by 9% to €16.9 billion. Outside France, the order book rose by 22% to €25.5 billion.

 

Financial structure at the end of the year

At 31 December 2020, free cash flow was €4.0 billion, compared with €4.2 billion at the same time last year. Consolidated net financial debt decreased by approximately EUR 3.7 billion over the year to EUR 18.0 billion at the end of the year.

In this unprecedented context marked by the health crisis, the Vinci Group has made the necessary efforts to strengthen its liquidity. At the end of 2020, it amounted to €19.2 billion, compared with €15.8 billion at 31 December 2019.

At the end of the financial year, the company has a gross financial debt of around €28 billion. This was determined before taking into account available cash. Its average maturity is 7.7 years, compared with 8.1 years at the end of the previous year. The average cost of debt decreased slightly to 2.3% from 2.4% a year earlier.

 

About the Group's dividend and market capitalisation

On 08 April 2021, the company's General Meeting of Shareholders was held. During this meeting, Vinci's Board of Directors proposed the payment of a dividend of €2.04 per share for the 2020 financial year. It was paid on 22 April 2021, entirely in cash.

In addition, the company is present on the equity markets. It belongs to the CAC 40 stock market index. As of October 2020, Vinci's market capitalisation is estimated at €46.69 billion.  

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