VCISY Vinci SA (PK)

   By Donato Paolo Mancini 
 

Vinci SA (DG.FR) on Wednesday reported rises in key metrics for 2018. The construction-and-infrastructure company said net profit was 2.98 billion euros ($3.4 billion) compared with EUR2.75 billion the previous year. Revenue rose to EUR43.52 billion, and earnings before interest, tax, depreciation and amortization rose to EUR6.9 billion, it said.

Vinci airports reported a 6.8% increase in passengers to more than 195 million, Vinci said. Vinci recently acquired a majority stake in London's Gatwick airport. The operation is expected to close in the first half of 2019.

The French company said it expects further growth in its revenue and net income in 2019, with passengers at Vinci airports expected to rise. It also said traffic on its autoroutes should track economic activity in France, barring any exceptional events.

According to a consensus estimate compiled by FactSet, analysts were expecting Vinci to post 2018 sales, Ebitda and net profit of EUR43.11 billion, EUR6.9 billion and EUR2.97 billion, respectively.

"Vinci's performance in 2018 was outstanding and reflects the strength of its concession-construction business model, both in France and abroad," said Chief Executive Xavier Huillard. "Against this backdrop, the Group is confident moving into 2019 and is projecting further growth in its revenue and net income," he said.

The board has decided to propose that the 2018 dividend be set at EUR2.67 per share, Vinci said.

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

(END) Dow Jones Newswires

February 06, 2019 02:12 ET (07:12 GMT)

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