Vinci grows revenue but flags a possible €450 million French tax charge

Vinci ($DG-EURONEXT) reported revenue of €55.96 billion for the first nine months of 2026, up 3.1% as reported and 1.8% like for like. Third-quarter growth accelerated to 5%, supported by international operations and Energy Solutions. Orders increased 6% to €49.6 billion, while the order book rose 7% to €75.4 billion, equivalent to approximately 14 months of activity in its contracting businesses.

The group reaffirmed 2026 expectations for revenue and earnings growth, with free cash flow potentially reaching €6 billion. That outlook excludes a proposed increase in France’s tax on long-distance transport infrastructure. If adopted, Vinci initially estimates an additional charge of about €450 million against 2026 operating earnings and net profit, with payment in 2027. The measure remains under parliamentary review, so this is a contingent exposure rather than an enacted charge.

Sources:

• Issuer release via MarketScreener
• trivano.com