In a research note, Deutsche Bank analyst Andy Chu has maintained his recommendation on the stock with a Buy rating. The target price is reviewed upwards from EUR 130 to EUR 137.
VINCI is the world leader in construction, concessions and related services. Net sales (including intragroup) break down by activity as follows:
- design and construction of infrastructure (44.1%; VINCI Construction): primarily in the fields of building, civil engineering and hydraulics. In addition, the group is developing a business in the construction, renovation and maintenance of transport infrastructure (roads, freeways and railroads; Eurovia), in the production of aggregates (No. 1 in France) and in urban development;
- design, execution, and maintenance of energy and telecom infrastructures (38.1%; VINCI Energies and Cobra IS);
- sub-contracted infrastructure management (16.2%; VINCI Concessions): primarily managing roads and highways (mainly through Autoroutes du Sud de la France and Cofiroute), parking areas, airport activities;
- other (1.6%): primarily property development (residential properties, business properties, managed residences and property services).
Net sales are distributed geographically as follows: France (42.2%), the United Kingdom (9.4%), Germany (7.8%), Spain (5.3%), Europe (14%), North America (7.7%), Central and South America (5.9%), Oceania (3.3%), Africa (2.2%) and Asia/Pacific and Middle East (2.2%).
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ESG MSCI
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