Vinci 2020 Profit, Revenue Fall on Pandemic Hit
05 Febrero 2021 - 01:27AM
Noticias Dow Jones
By Giulia Petroni
Vinci SA said Friday that net profit fell in 2020 as performance
was severely hit by the coronavirus pandemic.
The French construction and infrastructure company said net
profit came in at 1.24 billion euros ($1.49 billion) in the full
year compared with EUR3.26 billion a year earlier.
Revenue was EUR43.23 billion, down from EUR48.05 billion the
previous year.
Revenue at Vinci's concessions business, which manages toll
roads and airports, fell 34% on a like-for-like basis to EUR5.84
billion, the company said.
Vinci said it isn't currently able to provide a reliable
earnings forecast for 2021 due to uncertainties, and that it
doesn't expect 2021 earnings to recover to 2019 levels.
The company said visibility remains limited for its concessions
business, where performance depends on Covid-19 developments, while
in contracting it aims to increase revenue and improve operating
margins across business lines.
Vinci said it will propose a dividend of EUR2.04 a share for
2020, in line with the previous year.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 05, 2021 02:12 ET (07:12 GMT)
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