By Cecilia Butini

 

Vinci SA said Tuesday that its revenue for the third quarter fell due to the coronavirus pandemic, and that it backed its outlook for decreased earnings in 2020.

The French construction and infrastructure company posted a revenue of 12.29 billion euros ($14.47 billion) for the quarter, down from EUR13.13 billion in the same period a year prior. The decline was 6.4% on an actual basis and 6.7% on a like-for-like basis, Vinci said.

Revenue in the French market declined to EUR6.82 billion for the quarter from EUR7.04 billion in the same period last year.

The company continues to expect its 2020 earnings to fall significantly, but added that it foresees this decline to be less pronounced than that seen in the first half.

Vinci expects earnings to bounce back in 2021 relative to 2020, but to remain lower than the 2019 level.

 

Write to Cecilia Butini at cecilia.butini@wsj.com

 

(END) Dow Jones Newswires

October 20, 2020 12:28 ET (16:28 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Vinci (EU:DG)
Historical Stock Chart
From Oct 2020 to Nov 2020 Click Here for more Vinci Charts.
Vinci (EU:DG)
Historical Stock Chart
From Nov 2019 to Nov 2020 Click Here for more Vinci Charts.