(Reuters) – Vinci on Tuesday reported first-quarter revenue up 17%, driven by growth in three of its key units, as the traffic recovery continues to edge closer to levels of before the COVID-19 pandemic. First-quarter revenue was €15.0 billion, compared to €12.8 billion recorded in the same period a year earlier.
The group also confirmed its annual outlook.
Vinci has seen a rebound in travel numbers this year following the easing of pandemic-related restrictions, while benefiting from investment in renewable energy. However, the recovery was slower in Asia.
“The strong recovery in air traffic was confirmed in the first quarter of 2023,” the group said in a statement, adding that several airports it manages have even reached record passenger numbers. Without taking into account Asian airports, passenger numbers reached 96% of pre-pandemic levels, Vinci said.
The concessions division, which manages airports and highways, grew by 24% over the quarter to 2.20 billion euros, largely thanks to Vinci Airports which grew by 89% over the quarter.
Vinci’s order book at the end of March reached a record level of 60.3 billion euros, driven by orders from Vinci Energies linked to the energy transition.
“At this stage, excluding exceptional events, the group is planning for 2023 a further increase in its turnover and its operating profit, on a scale however more modest than that observed in 2022”, specified Vinci in a press release.
(Report Olivier Sorgho and Pierre John Felcenloben, Augustin Turpin, edited by Kate Entringer)
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