Vinci wins the jackpot

The Chicago Transportation Authority awarded Vinci (among others) a $2.78 billion contract for nine miles of line extension and four new stations.

L’Chicago Transportation Authority has awarded a group of companies, which includes Vinci, a $2.78 billion contract for nine kilometers of line extension and four new stations, as the French group announced Monday in a press release .

At the same time, Vinci, the French construction juggernaut announced a turnover of 18.5 billion euros in the 3rd quarter, an increase of 1.4%, a development according to it reflecting the slowdown in inflation in the countries where the group operates.

The extension of the “red line” of the Chicago subway

6.4 km of aerial section

The Construction branch major projects of Vinci will be associated with the American Walsh construction companyup to 40% and 60% respectively in order to achieve the extension of the “red line” of the metro of the third American city, which is scheduled to enter service in 2030.

This work, which will cover 6.4 km of aerial section, aims to serve the disadvantaged communities on the south side of Chicago : “around 100,000 additional residents will have access to a low-carbon public transport service, significantly reducing their travel time to get to the city center in particular“, according to the press release.

The new infrastructures will be “fully accessible to people with reduced mobility“, as specified in the press release. Vinci committed to allocating 10% of design hours and 35% of construction hours to people from economically disadvantaged areas of the city. In addition, the company promises that some 22% of purchases will be made from TPE-PME locales.

The city of Chicago's iconic skytrain. © Rosana Scapinello / 123RF.com

Vinci conquers America

Vinci continues its development in UNITED STATESafter for example the acquisition in April of a 14 km toll portion of the Denver Ring Road (Colorado) for approximately $1.2 billion.

Vinci Construction achieved 54% of its turnover internationally in the first half of 2024, in particular by densifying its geographic coverage in North America through several targeted acquisitions, according to the group's latest activity report. As a whole, the Vinci group achieved a turnover of 1.5 billion euros in the United States in the first half, or 4.3% of the six-month total.

Vinci: turnover up 1.4% to 18.5 billion euros in the 3rd quarter

Vinci indicated that he expected “for 2024 on a further increase in its turnover, but of a lesser magnitude than that achieved in 2023“, as well as on “uno progress in its operational results“.

Concerning its 2024 net profit, the group had previously indicated in July that it expected a level “close to the level reached in 2023, after taking into account the new tax“on the French highwaysfor an amount “estimated at around 280 million euros“However, this perspective “does not take into account the negative impact” of the surcharge applicable to thecorporate taxcurrently being examined by Parliament, and which would imply in the event of a vote “an additional charge of around 400 million euros“.

The group generated 57% of its revenues outside France, including:

– Vinci Airports experienced an increase in air traffic driven by a “strong summer demand and a high plane occupancy rate“, with turnover up 16.3% in the third quarter;

– Other concessions (excluding motorways) fell by 21.7%, as did the activity of Vinci StadiumWho “remained very limited due to the Paris 2024 Olympic and Paralympic Games, which mobilized the Stade de France until mid-September“, said the group;

– The turnover of the energy branch increased by 4.5%, driven by new acquisitions.

On the other hand, sales fell in construction (nearly half of the group's revenues), with a decline of 2.2%, and even more so in the real estate branch, with a drop of 14.8%.

Source : batirama.com / AFP / Laure Pophillat