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    DG   FR0000125486

VINCI

(DG)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Gatwick Airport Lenders Agree to Temporarily Waive Debt Payments Amid Air Travel Crisis

09/08/2021 | 01:32am EDT

By Cecilia Butini

Vinci SA said Wednesday that the majority of lenders to its subsidiary London Gatwick Airport have granted it a temporary waiver to financial covenants as a result of the exceptional circumstances affecting air travel.

The company won't be required to comply with the senior interest cover ratio and senior debt ratio at the next two testing points, at the end of December 2021 and at the end of June 2022, Vinci said.

London Gatwick Airport had entered into discussions with its lenders in August to obtain a temporary waiver on the payment of 2.8 billion pounds ($3.86 billion) of reference net debt, Vinci said.

The company also said that the method for calculating the debt ratio will be amended until June 2024 in order to adjust for the impact of the Covid-19 crisis on the airport's earnings before interest, taxes, depreciation and amortization.

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

(END) Dow Jones Newswires

09-08-21 0332ET

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Analyst Recommendations on VINCI
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Financials
Sales 2021 48 681 M 56 769 M 56 769 M
Net income 2021 2 414 M 2 815 M 2 815 M
Net Debt 2021 18 684 M 21 788 M 21 788 M
P/E ratio 2021 21,0x
Yield 2021 2,53%
Capitalization 52 129 M 60 636 M 60 790 M
EV / Sales 2021 1,45x
EV / Sales 2022 1,28x
Nbr of Employees 219 400
Free-Float 87,2%
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Technical analysis trends VINCI
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 20
Last Close Price 90,77 €
Average target price 103,21 €
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Xavier Huillard Chairman & Chief Executive Officer
Christian Labeyrie Chief Financial Officer & Executive Vice President
Robert Castaigne Independent Director
Yannick Assouad Lead Independent Director
Graziella Gavezotti Independent Director
Sector and Competitors