But operating profit at French giant still off 2019’s number

French giant Vinci said income last year was back above pre-pandemic levels with turnover nudging the €50bn (£42bn) mark.

In results published on Friday, the construction and airports group said 2021’s income of €49.4bn (£41.8bn) was 3% up on the €48bn (£40.6bn) it posted in 2019 – and 14% up on last year’s €43bn (£36bn).

old oak

Source: HS2 Ltd

Vinci started last summer on the scheme to build a new HS2 station at Old Oak Common with JV partners Balfour Beatty and Systra

Revenue at its construction arm, its biggest division, was €26.3bn (£22.2bn) last year, up 5% on 2019, with 49% of its business coming from France.

It said income outside its domestic market was up 16% on 2019’s number to €13.5bn (£11.4bn) thanks in part to work on its HS2 schemes, including the Old Oak Common station it is building with Balfour Beatty, starting in earnest.

Operating profit at the group was €4.7bn (£3.8bn), up from 2020’s figure of €2.9bn (£2.6bn), but still down on the pre-pandemic number of €5.7bn (£4.8bn). The construction arm last year made an operating profit of €968m with margins edging up from 3.3% in 2019 to 3.7% last year.

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