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Vinci posts increased revenue for 2012

Construction giant Vinci’s revenue grew 4.5% to €38.6bn (£33.2bn) in the year ending 31 December 2012, according to results announced today.

This is compared to £31.8bn in the year ending 31 December 2011.

The firm also posted a 1.4% rise in profits to £3.65bn compared to £3.6bn in 2011. Its order book has grown 2.3% to £31.3bn from £30.6bn in 2011.

But the firm said it expected business to be flat in 2013 due to a continued challenging economic climate, especially in Europe.

“Vinci proved once again that, in a pretty difficult environment, its business model is well suited to withstand negative market trends, to pursue its strategic objectives in a methodical and opportunistic manner, while at the same time creating shareholder value in the short, medium and long terms,” said Vinci chief executive Xavier Huillard.

“Contracting has started the year with a very healthy order book in both France, with the high speed rail line project between Tours and Bordeaux, and abroad,” he said.

“However, if trends observed at the end of 2012 continue, there could be a downturn in order intake, due to the Group’s emphasis on margins rather than volume for project selection. Against this backdrop, the Group is expecting business to be flat in 2013.”

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