(Reuters) – Vinci said on Wednesday it forecasts growth in its turnover this year lower than that of 2023 and a net profit close to the level reached last year despite the negative impact of the new tax on infrastructure. long distance transport in France.

The construction and concessions group reported consolidated turnover of 68.8 billion euros in 2023, up 11.6% year-on-year.

It says it is approaching 2024 with confidence, despite the uncertain geopolitical and macroeconomic context, after “an overall performance of very high quality”, driven in particular by its activity in airports, whose traffic continued to recover to exceed slightly overall to its level prior to the health crisis due to COVID-19.

“This trend is before taking into account the new tax on long-distance transport infrastructure decided by the French government, the amount of which is estimated at around 280 million euros,” the group said in a press release.

Vinci had previously estimated the impact of the tax at around 260 million euros.

Vinci judges that the dynamics of almost all of the group’s businesses, both in France and internationally, have been very positive throughout the year. The only exception is real estate development, which is going through a “severe” economic crisis, said the chairman and CEO of Vinci, Xavier Huillard.

The construction and concessions group recorded earnings before interest and taxes (EBIT) from ordinary activities of 8.36 billion euros in 2023, an increase of 22% year-on-year and above analysts’ estimates. interviewed by Visible Alpha, who expected 8.13 billion euros.

Vinci’s board of directors approved on Wednesday the payment of a dividend for the 2023 financial year in the amount of 4.50 euros per share, the group said.

(Written by Diana Mandiá and Gaëlle Sheehan)

Copyright © 2024 Thomson Reuters