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2025 full year results Electricity interconnection project between France and Spain VINCI Energies, Cobra IS and VINCI Construction6 FEBRUARY 2026 Outstanding performance Record free cash flow
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Concessions 2 VINCI Highways is managing through Entrevias and Via Cristais almost 1,200 km in Brazil , VINCI’s longest motorway network outside France The UK Secretary of State for Transport approved the Northern Runway plans at London Gatwick airport: capacity increased to 80 Mpax at the turn of the decade Growth and visibility on mobility infrastructure
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Energy Solutions 3 VINCI Energies acquired EnergoBit in Romania, a national leading player in electrical infrastructure Electricity at the heart of the agenda BorWin5, the HVDC converter platform built by Cobra IS and Siemens Energy for TenneT has been installed in Germany
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Construction 4 Making infrastructure vital VINCI Construction and VINCI Energies are building the future Nantes’ hospital , France In Auckland, New Zealand , the City Rail Link built by VINCI Construction will be delivered in 2026
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5 FY 2025 highlights Pierre Anjolras Chief Executive Officer 2025 FULL YEAR RESULTS
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FY 2025 highlights Outstanding performance - Record free cash flow Revenue growth: 74.6 bn (+4%) and operating earnings up for each of the Group’s three businesses Good momentum in Energy Solutions and Concessions Increase in net income: €4.9 bn (+1% and 10% excluding the exceptional tax contribution) Record free cash flow: €7.0 bn 2026 outlook: further revenue and earnings growth expected Dividend proposed for 2025: €5.00 per share (+€0.25 per share vs 2024) 2025 FULL YEAR RESULTS 6
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7 2025 FULL YEAR RESULTS 74,599 Revenue Δ FY 2025 / FY 2024 13,507 Ebitda* 9,558 Ebit 7,010 Free cash flow 4,903 Net income 8.65 Net income/ share*** (€) +4.2% (+5.1% at constant FX) +6.4% +6.2% +€202 m+0.8% +2.6% FY 2025 Group key figures Data in € millions (unless otherwise specified) (19,075) Net financial debt +€1,340 m vs 31 Dec. 2024 * Cash flow from operations before tax and financing costs ** Increase in the corporate tax in France in 2025, negative impacts of €(449) m on net income and €(425) m on free cash flow *** After taking account of dilutive instruments 5,352 +10% Excluding the exceptional tax contribution** 9.44 +12% 7,435 +€627 m
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VINCI core countries 8 FY 2025 Revenue (€bn) Germany Spain USA Canada Portugal Rest of the World France 30.8 74.6 7.4 6.5 3.8 3.4 2.0 1.9 1.8 1.5 1.4 1.2 1.1 11.8 Switzerland Australia Netherlands Czech Republic Brazil UK Total Top 5 countries 70% of revenue Top 12 countries 84% of revenue 2025 FULL YEAR RESULTS +2.0% Organic +1.7% Scope +0.2% +5.8% Organic +3.3% Scope +4.1% FX -1.6% +10% +17% -1%* +4% * Decrease due to high comps with the completion of EPC projects (mainly PV plants) realized by Cobra IS in Spain. Excluding this effect, revenue of the Group in Spain is up 5% vs FY 24 +4% 41% of VINCI total revenue 44% of VINCI net income 59% of VINCI total revenue 56% of VINCI net income +2% Δ FY 2025/FY 2024 France Outside France
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Concessions – Key figures 9 €12,219 m Revenue +4.9% (+3.9% lfl) 8,169m Ebitda 2025 FULL YEAR RESULTS VINCI Airports VINCI Autoroutes VINCI Highways €4,796 m +6.0% (+5.8% lfl) €6,733 m +2.3% (+2.3% lfl) €543 m +35% (+11% lfl) VINCI Airports VINCI Autoroutes VINCI Highways €3,042 m 63.4% margin, -28 bp yoy €4,784 m 71.0% margin, +25 bp yoy €282 m 51.9% margin, +333 bp yoy 16% of VINCI total revenue 60% of VINCI total Ebitda of which of which Δ FY 2025/FY 2024 66.9% Ebitda margin +14 bp yoy +€397 m
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10 Concessions FY 2025 Key takeaways VINCI Airports – Traffic growth buoyed by low-cost airlines and long-haul routes development – Remarkable traffic increases in Japan (+10%)and in recently acquired airports: Edinburgh (+8%), Mexico (+9%), Cabo Verde (+16%), Budapest (+12%) – ~400 new routes opened in 2025 across the network 2025 FULL YEAR RESULTS VINCI Airports passenger numbers in FY 2025 (vs FY 2024) Total 334 mpax* Portugal 72.5 mpax +4.7% UK 66.4 mpax +1.0% Japan** 54.3 mpax +10% Of which: Mexico 28.9 mpax +8.9% * Data at 100%, irrespective of percentage held, including airport passenger numbers over the full period +5.0% ** Consolidated by the equity method (Japan 40%, Budapest 20%) Hungary** 19.6 mpax +12% Brazil 13.1 mpax +8.7% Word-class assets Operational excellence Successful recent integrations
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11 Concessions FY 2025 Key takeaways VINCI Autoroutes – FY 2025 traffic levels up (+0.9% o/w LV +0.9% and HV +0.7%) – Escota : approval by the grantor of the work programme until the end of the concession (February 2032) VINCI Highways – Northwest Parkway (Denver, USA): more than one year ahead of schedule, implementation of a day/night rate modulation system leading to an increase in revenue while continuing its programme of costs optimization and reinternalization – Brazil: good integration of Via Cristais since March 2025 and Entrevias now fully consolidated 2025 FULL YEAR RESULTS Motorways traffic change +0.9% * Entrevias France Peru Colombia Brazil* USA Canada Δ FY 2025/FY 2024 +1.9% +30% +1.9% -0.4% +9.5% Greece +3.4% Word-class assets Operational excellence Successful recent integrations
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Energy Solutions – Key figures 12 €29,612 m Revenue +7.8% (+5.8% lfl) €2,250 m Ebit 2025 FULL YEAR RESULTS VINCI Energies Cobra IS €21,608 m +6.1% (+3.3% lfl) €8,004 m +13% (+13% lfl) VINCI Energies Cobra IS €1,606 m 7.4% margin, +20 bp yoy €644 m 8.0% margin, +26 bp yoy 40% of VINCI total revenue 24% of VINCI total Ebit Δ FY 2025/FY 2024 7.6% Ebit margin +€223 m +22 bp yoy
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13 Energy Solutions FY 2025 Key takeaways VINCI Energies – International (60% of total revenue): +7.9% (+3.5% lfl) Business particularly buoyant in Germany (1st international market of VINCI Energies) and Benelux – France (40% of total revenue): a robust +3.4% (+3.0% lfl) – Q4 25: +7.3% (+5.3% lfl) good momentum both in France and abroad – 33 acquisitions made in 2025 (annual revenue: ~€700 m) Cobra IS – Flow business: growth at a firm pace – EPC: strong increase in activity driven by major strategic energy transition and sovereignty projects in many countries including Germany, Brazil and Australia 2025 FULL YEAR RESULTS VINCI Energies revenue change vs FY 24 and split by business line Cobra IS revenue change vs FY 24 and split flow business / EPC projects 45%55% EPC projects +24%Flow business +5% 31% 23% 28% 18% Infrastructure +6% Industry +8% Building Solutions +8% ICT +1% Unmatched execution Strong track -record Cash generation focus
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Construction – Key figures 14 €33,241 m Revenue +1.0% (-0.4% lfl) €1,356 m Ebit 2025 FULL YEAR RESULTS VINCI Construction VINCI Immobilier €32,137 m +1.1% (-0.3% lfl) €1,105 m -3.3% (-3.4% lfl) VINCI Construction VINCI Immobilier €1,353 m 4.2% margin, +11 bp yoy €3 m 0.3% margin, +533 bp yoy 45% of VINCI total revenue 14% of VINCI total Ebit Δ FY 2025/FY 2024 +€110 m 4.1% Ebit margin +29 bp yoy
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15 Construction FY 2025 Key takeaways VINCI Construction – Revenue up 1.1% ( -0.3% lfl) despite a negative FX impact (-1.5%) Decline in the activity of major projects because of the phasing of certain large infrastructure projects Firm flow business, France sustained by roads, rails and water works as well as refurbishment of buildings Specialty Networks sustained especially in the nuclear industry Strong cash flow generation VINCI Immobilier – Property market still depressed in France, but earnings turned positive again – Upturn in the launch of new construction projects 2025 FULL YEAR RESULTS 89% 11% Revenue change vs FY 24 Other projects +1.7% Major Projects -3.1% Housing unit reservations (France) -13% vs FY 24 4,177 Selectivity Top quality of execution Focus on profitability & cash
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Order intake at a high level 16 By business line (in € billions) 30.6 33.7 32.1 20.9 22.1 22.3 10.3 10.4 8.6 61.9 66.3 63.0 FY 23 FY 24 FY 25 VINCI Construction VINCI Energies Cobra IS +1% -5% +6% +10% -17% +7% -5% +1% Ratio order intake / revenue 1.12 1.46 1.09 1.06 1.02 1.08 1.03 1.00 FY 24 FY 25 Key takeaways – Despite high comps (many large projects won in 2024), order intake in FY 25 remains at a high level – Order intake from small and medium -sized businesses are up by +3% – All in, order intake in FY 25 remains higher than the revenue of the period, leading to a satisfactory renewal of the order book 2025 FULL YEAR RESULTS Total VINCI
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17 FY 2025 financial data Christian Labeyrie Executive Vice President and Chief Financial Officer 2025 FULL YEAR RESULTS
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€71,623 m €74,599 m +3.9% +1.9% (0.9)% +5.8% +2.5% (0.4)% (0.4)% +2.7% (1.4)% Revenue growth driven by Concessions and Energy Solutions 18 Organic Scope FX Organic Scope €315m +1.0%+€569 m +4.9% +2.6% Organic Scope FX Total FY 2025 VINCI Group revenue +2.5% -1.0% FX vs FY 2024 vs FY 2024 +4.2% * FY 2025 revenue €12,219 m €33,241 m 2025 FULL YEAR RESULTS €74,599 m +€2,977 m Concessions Energy Solutions Construction +€2,134 m +7.8% €29,612 m Organic FXScope
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Operating income from ordinary activities (Ebit): strong improvement overall 2025 FULL YEAR RESULTS19 51.6% 49.6% 7.2% 7.8% 4.1% (5.0)% 51.3% 49.2% 7.4% 8.0% 4.2% 0.3% 2,334 2,459 3,265 3,311 1,474 1,606 553 644 1,304 1,353 (57) 3 FY 24 Vair FY 25 Vair x FY 24 Vaut FY 25 Vaut x2 FY 24 VE FY 25 VE x3 FY 24 Cobra IS FY 25 Cobra IS x4 FY 24 VC FY 25 VC x5 FY 24 VImmo FY 25 VImmo VINCI Airports VINCI Autoroutes VINCI Energies VINCI Construction +126 +47 +132 +49 VINCI Immobilier +61 Cobra IS (Ebit in € millions and Ebit margin as % of revenue) +91 VINCI Group Ebit: €9,558 million (+€561 m vs FY 24, ie +6.2%) Ebit margin: 12.8% (+25 bp vs FY 24)
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Income statement 2025 FULL YEAR RESULTS20 (in € millions) FY 2025 FY 2024 Δ (€m) Δ 2025/2024 Operating income from ordinary activities (Ebit) 9,558 8,997 +561 +6.2% % of revenue 12.8% 12.6% Share-based payment expense (IFRS 2) (567) (462) -105 +23% Profit/loss of equity-accounted cos. & miscellaneous 410 316 +94 +30% Recurring operating income 9,401 8,850 +550 +6.2% Non-recurring operating items (37) (68) +31 Operating income 9,364 8,783 +581 +6.6% Cost of net financial debt (1,247) (1,191) -56 +4.7% Other financial income and expenses* (181) (217) +36 -17% Income tax (2,661)** (2,102) -559 +27% Non-controlling interests (372) (410) +38 -9.3% Net income attributable to owners of the parent 4,903 4,863 +40 +0.8% Earnings per share (in €) 8.65 8.43 +0.22 +2.6% Net income attributable to owners of the parent (excluding the exceptional tax contribution ) 5,352** 4,863 +489 +10% Earning per share (in €)*** 9.44 8.43 +1.01 +12% * Of which changes in fair value of ADP shares owned by the Group: €(2) m in FY 25 and €(44) m in FY 24 ** Negative impact of €(449)m on net income caused by the exceptional contribution in 2025 on the profits of large companies in France *** After taking account of dilutive instruments
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(20.4) (19.1) EBITDA 13.5 ∆ Working capital requirement 2.5 Interests & taxes paid (4.1) Capex* (4.9) Acquisitions / Disposals** (1.8) Dividends/Share buyback & miscellaneous (3.8) Record free cash flow driven by Ebitda and WCR further improvements 2025 FULL YEAR RESULTS21 Free cash flow: €7,010 m Net financial debt at 31 Dec. 2024 Net financial debt at 31 Dec. 2025Concessions Energy Solutions + Construction Reminder FY 2024 12.7 2.3 (3.3) (4.9) (7.0) (4.1) Free cash flow: €6,808 m in FY 2024 Data in € billions * Of which Zero.e’s investments (Cobra IS EnR portfolio): €0.9 bn in 2025 and €0.6 bn in 2024 ** Of which €300 m of disposals in 2025 (€120 m in 2024) (33.5)Gross debt (34.6) Treasury (13.1) (15.5) Gross debt Treasury
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Cumulative free cash flow over the year 2025 FULL YEAR RESULTS22 5.4 6.6 6.8 7.0 -1.5 -0.5 0.5 1.5 2.5 3.5 4.5 5.5 6.5 7.5 Jan. Feb. March Apr. May June July Aug. Sep. Oct. Nov. Dec. FY 2022 FY 2023 FY 2024 FY 2025 Seasonal development of free cash flow, Q4 contributing significantly to the annual amount (in € billion) 2025 (5)% 2024 Q1 Q2 6% (4)% 9% FY 100% 100% Contribution to full-year FCF Q3 35% 36% Q4 65% 59%
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Strong FCF generation and high level of cash conversion 2025 FULL YEAR RESULTS23 in € billions 2.5 2.8 3.1 3.4 1.0 2.2 4.4 5.1 5.3 5.3 2.9 2.5 3.2 4.2 4.0 5.3 5.4 6.6 6.8 7.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net income before minority interests FCF Free cash flow generation 2016 to 2025: €48 bn in total
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6.5 6.5 13.1 15.5 19.6 22.0 31 December 2024 31 December 2025 Very robust financial position 24 A- A3 Outlook stable Outlook stable Solid credit rating High level of liquidity Confirmed for VINCI in May 2025 Net cash managed Data in € billions Available confirmed bank credit line* 31 December 2024 31 December 2025 stable +2.4 2025 FULL YEAR RESULTS Confirmed for VINCI in October 2025 *The €6.5 bn bank credit facility borne by VINCI SA has been renewed until 9 January 2031 In 2025: • €5.7 bn of new refinancing raised by the Group • €4.2 bn total repayment by the Group Total gross financial debt at the end of 2025: €34.6 bn • Average maturity: 5.5 years • Average cost: 4.37%
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25 Outlook and strategy Pierre Anjolras Chief Executive Officer 2025 FULL YEAR RESULTS
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2025 FULL YEAR RESULTS26 * VINCI Airports existing assets development Main developments ahead London Gatwick – Expansion project The UK Secretary of State for Transport approved the Northern Runway project Aerodom – Santo Domingo Start of the works for the New Passenger Terminal Building Cabo Verde – New Capex plan launched to support traffic growth and economic dynamics OMA – Master Development Program New MDP 2026-2030 signed ANA – New Lisbon airport Green light from the Portuguese authorities to launch preliminary design
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Cofiroute: signing of a ‘contrat de plan’ 2025 FULL YEAR RESULTS27 * In January 2026, the French State approved an addendum to the Cofiroute concession contract financed by tolls increases* It involves in particular: - the implementation of the Court decision** about the regional development tax (TAT) - €350 m capex mainly for: o shared mobility o environmental projects o land-use planning o electric transport facilities * Cofiroute’s tolls will rise at 83% of the reference CPI until the end of the concession (vs 70% previously) with additional hikes for light vehicles of 0.472 % on 1 February 2026 and of 0.173% per year from 2027 to 2030 ** Issued by the Paris Administrative Court of Appeal in May 2025 related to the compensation of the TAT (‘ Taxe d’Aménagement du Territoire’) increase decided in the Finance Bill for 2020
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Long term energy assets 2025 FULL YEAR RESULTS28 Zero.e’s portfolio at the end of December 2025 Total investments to date ~€2.3 bn Split by status In construction or Ready-to-Build 76% >5 GW Transmissions lines PPP Cobra IS current portfolio: 3 PPP (~1,900 km of lines) 2 under construction 1 in operation 1 PPP (>200 km of lines) under construction Split by geography 38% Split by technology Solar 98%In operation 24% Others 3% 18% 41% >5 GW >5 GW Onshore wind 2%
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Electrical infrastructure Rail works Water infrastructure Digital infrastructure Healthcare VINCI’s exposure to the world’s megatrends Estimated figures Defense 2025 backlog ~€19 bn 2025 revenue ~€11 bn 29 2025 backlog ~€11 bn 2025 revenue ~€6 bn 2025 backlog ~€3 bn 2025 revenue ~€2 bn 2025 backlog ~€3 bn 2025 revenue ~€3 bn 2025 backlog ~€6 bn 2025 revenue ~€7 bn 2025 backlog ~€2 bn 2025 revenue ~€2 bn
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32.7 35.0 34.2 14.3 16.5 17.5 14.4 17.6 18.1 61.4 69.1 69.8 December 2023 December 2024 December 2025 VINCI Construction VINCI Energies Cobra IS Order book up 1% yoy to a very high-level: visibility and serenity 2025 FULL YEAR RESULTS30 Flow business constitutes the vast majority of the Group’s activity - Strong selectivity policy unchanged 15.8 16.1 16.6 25.6 32.3 33.3 20.0 20.7 19.9 61.4 69.1 69.8 December 2023 December 2024 December 2025 +13% +15% +7% +26% +2% +4%+22% 13.6 27.2 9.7 12.8 By business line (in € billions) By geographical area (in € billions and percentage) Number of months of average business activity +6% -2%* +3% +1% +3% +3% -4% FranceEurope excluding France International excluding Europe +13% +1%14.0 29.7 9.7 13.2 Total VINCI 2024 2025 * +1% at constant exchange rates France 29% Germany 20% Rest of Europe 27% International excluding Europe 24% 69.8
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31 FY 2026 guidance CONCESSIONS ENERGY SOLUTIONS CONSTRUCTION Revenue - excluding forex effect – is likely to be similar to its 2025 level With at least the same operating margin (4.2% in 2025) Mid to high single digit revenue growth With an expected improvement of its operating margin (7.6% in 2025) Zero.e renewable energy portfolio: total capacity - in operation, under construction or Ready-to-Build - could rise from 5 GW* to around 6 GW at the end of 2026 VINCI Airports: passenger numbers should continue to increase overall in step with global economic growth, although with various situations between regions VINCI Autoroutes: traffic growth should follow French economic output and that of neighbors’ countries (o/w Spain and Italy) Based on those developments and assuming no change in taxation**, the Group would expect for 2026: o further growth in its revenue, operating earnings and net income attributable to owners of the parent o free cash flow , as an initial estimate, could reach €6 bn*** 2025 FULL YEAR RESULTS * Based on its current portfolio with 5 GW of capacity, Zero.e's EBITDA is likely to rise above €400 m by 2030 ** Taking into account that the higher corporate income tax rate introduced in France in 2025 (~36%) will also be applied in 2026 *** Assuming that Zero.e’s capex is similar to its 2025 level (€0.9 billion)
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Dividend 2025 FULL YEAR RESULTS32 Proposed 2025 dividend per share (all-cash) Dividend per share since 2015 (in €) €5.00 per share Interim dividend Total dividend (–) interim dividend 0.57 0.63 0.69 0.75 0.79 0.65 1.00 1.05 1.05 1.05 1.84 2.10 2.45 2.67 2.04 2.04 2.90 4.00 4.50 4.75 5.00 3.05 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 21 April 2026 Ex-date 23 April 2026 Payment date * The 2019 dividend initially proposed in February 2020 was €3.05 per share: it was finally cut to €2.04 per share in Spring 2020 due to the Covid-19 pandemic * 50% 50% 50% 50% 35% 93% 64% 54% 55% 56% Pay-out ratio58%
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Capital allocation strategy 33 Commitment to a clear and appealing shareholder remuneration Mobility infrastructure concessions: - airports - highways Energy assets: - solar PV - BESS - transmission lines Energy Solutions: recurring bolt-on acquisitions Construction: opportunistic acquisitions Long-term infrastructure Short/Medium-cycle activities CASH ALLOCATION Development Capex on existing assets/M&A under a strict discipline: selected countries, growth potential and appropriate returns Dividends: medium-term target to reach a pay-out ratio of 60% Shares buyback: beyond offsetting the dilution caused mainly by the issuance of shares to employees, SBB will be opportunistic Extend and strengthen the portfolio 2025 FULL YEAR RESULTS
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Mobility infra concessions Capital allocation strategy execution 34 M&A (9.8) In € billion Mobility infrastructure concessions (7.3) Energy Solutions (1.2) Construction (1.0) Airports • Edinburgh (UK), low double-digit IRR*** Highways • Denver Northwest Parkway (USA), high single digit IRR*** • Brazilian motorways (Entrevias, Via Cristais), mid-teens IRR*** • R+S Group (Germany) • Wärtsilä SAM (Germany) • Zimmer & Hälbig (Germany) • Fernao (Switzerland, Germany) • Kontron (Germany and other European countries) • RH Marine (Netherlands) • EnergoBit (Romania) • Newport Construction (USA) • Hub Foundation (USA) • FM Conway (UK) • Northern Group (Canada) • Peters Bros (Canada) CASH-FLOW FROM OPERATIONS* CAPEX (11.4)* Energy assets (2.7) • EnR portfolio of Zero.e, low double-digit IRR*** • Electricity transmission lines PPP, low double-digit IRR*** Of which Main acquisitions SHAREHOLDER REMUNERATION (11.7) Dividends (9.4) Shares buybacks** (2.3) (3.9) *** Equity IRR targeted Wrap-up of the last 3 years (2023-2025) 2025 FULL YEAR RESULTS * After repayment of lease debt and associated financial expenses ** Shares buybacks net of capital increases and other operations on capital
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35 Main 2025 developments VINCI Highways March 2025: start of operations of the 30-year concession of the BR-040 highway, a nearly 600-km long toll road between Belo Horizonte and Cristalina through Brasilia (Brazil) October 2025: Entrevias (Brazil) previously equity accounted is now fully consolidated (570 km) 2025 FULL YEAR RESULTS VINCI Energies 33 acquisitions, ~€700 m of full-year revenue (mainly outside France). o/w 4 companies cumulating full-year revenue of ~€500 m • Wärtsilä SAM Electronics (Germany), ~€100 m of full-year revenue • R+S Group (Germany), ~€190 m of full-year revenue • Zimmer & Hälbig (Germany), €96 m of full-year revenue • EnergoBit (Romania), €120 m of full-year revenue VINCI Construction January 2025: acquisition of FM Conway Ltd (United Kingdom), €700 m of full-year revenue Two companies in North America cumulating full-year revenue of ~€100 m • Hub Foundation (Massachusetts, USA) • Peters Bros Construction Ltd (British Columbia, Canada) January 2026: agreement to acquire Fletcher Construction (New Zealand), ~€630 m of full-year revenue Cobra IS April 2025: financial closing of the 1st PPP of electric transmission in Australia (240 km of lines, 8 substations) May 2025: two new solar farms in Brazil, with a total capacity of 0.6 GW, were brought into service bringing the total capacity of the portfolio in operation to 1.2 GW May 2025: disposal of its 50% stake in the PPP relating to the Mantiqueira transmission line in Brazil for ~€130 m
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• LONG TERM MINDSET • ALL-ROUND PERFORMANCE • SUCCESSFUL DECENTRALIZED AND MULTI-LOCAL ORGANIZATION • TRUSTED MANAGEMENT • UNMATCHED EXECUTION POLICY • DISCIPLINED CASH ALLOCATION VINCI: OUR SHARED CULTURE
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37 2025 FULL YEAR RESULTS
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38 Appendices 2025 FULL YEAR RESULTS
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39 FY 2025 Financial data 2025 FULL YEAR RESULTS
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Consolidated revenue 40 Δ 2025/2024 in € millions FY 2025 FY 2024 Actual Like-for-like Concessions* 12,219 11,651 +4.9% +3.9% o/w VINCI Airports 4,796 4,526 +6.0% +5.8% o/w VINCI Autoroutes 6,733 6,585 +2.3% +2.3% o/w VINCI Highways 543 403 +35% +11% Energy Solutions 29,612 27,478 +7.8% +5.8% VINCI Energies 21,608 20,373 +6.1% +3.3% Cobra IS 8,004 7,105 +13% +13% Construction 33,241 32,927 +1.0% -0.4% VINCI Construction 32,137 31,784 +1.1% -0.3% VINCI Immobilier 1,105 1,143 -3.3% -3.4% Eliminations (473) (433) Total revenue* 74,599 71,623 +4.2% +2.6% * Excluding concession subsidiaries’ construction work done by non- Group companies 2025 FULL YEAR RESULTS
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Consolidated revenue - France 41 Δ 2025/2024 in € millions FY 2025 FY 2024 Actual Like-for-like Concessions* 7,132 7,046 +1.2% +2.0% o/w VINCI Airports** 265 329 -20% -4.0% o/w VINCI Autoroutes 6,733 6,585 +2.3% +2.3% Energy Solutions 8,708 8,410 +3.5% +3.1% VINCI Energies 8,645 8,358 +3.4% +3.0% Cobra IS 63 52 +23% +24% Construction 15,362 15,095 +1.8% +1.2% VINCI Construction 14,320 14,005 +2.3% +1.6% VINCI Immobilier 1,041 1,090 -4.5% -4.5% Eliminations (414) (354) Total revenue* 30,787 30,197 +2.0% +1.7% % of VINCI total revenue 41% 42% * Excluding concession subsidiaries’ construction work done by non- Group companies 2025 FULL YEAR RESULTS ** Change in consolidation method for AGO (Aéroport du Grand Ouest) – the company that holds the concessions for Nantes Atlantique and Saint - Nazaire Montoir airports – from full consolidation to the equity method in 2024. AGO’s consolidated revenue amounted to €54 million in 2024.
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Consolidated revenue - International 42 Δ 2025/2024 in € millions FY 2025 FY 2024 Actual Like-for-like Concessions* 5,088 4,605 +10% +6.8% o/w VINCI Airports 4,531 4,196 +8.0% +6.4% o/w VINCI Highways 543 403 +35% +11% Energy Solutions 20,904 19,069 +9.6% +6.9% VINCI Energies 12,963 12,015 +7.9% +3.5% Cobra IS 7,941 7,054 +13% +13% Construction 17,879 17,831 +0.3% -1.7% VINCI Construction 17,816 17,779 +0.2% -1.8% VINCI Immobilier 63 52 +21% +19% Eliminations (59) (79) Total revenue* 43,813 41,426 +5.8% +3.3% % of VINCI total revenue 59% 58% 2025 FULL YEAR RESULTS * Excluding concession subsidiaries’ construction work done by non- Group companies
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Ebitda 2025 FULL YEAR RESULTS43 in € millions FY 2025 % of revenue* FY 2024 % of revenue* Δ 2025/2024 Concessions 8,169 66.9% 7,773 66.7% +397 o/w VINCI Airports 3,042 63.4% 2,883 63.7% +159 o/w VINCI Autoroutes 4,784 71.0% 4,662 70.8% +122 o/w VINCI Highways 282 51.9% 196 48.6% +86 Energy Solutions 2,805 9.5% 2,496 9.1% +309 VINCI Energies 2,019 9.3% 1,794 8.8% +226 Cobra IS 786 9.8% 702 9.9% +84 Construction 2,194 6.6% 1,988 6.0% +206 VINCI Construction 2,133 6.6% 1,985 6.2% +148 VINCI Immobilier 61 5.5% 2 0.2% Holding companies 339 432 Ebitda 13,507 18.1% 12,689 17.7% +818 * Excluding concession subsidiaries’ construction work done by non- Group companies
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Ebit - operating income from ordinary activities by business line 2025 FULL YEAR RESULTS44 in € millions FY 2025 % of revenue* FY 2024 % of revenue* Δ 2025/2024 Concessions 5,935 48.6% 5,688 48.8% +247 o/w VINCI Airports 2,459 51.3% 2,334 51.6% +126 o/w VINCI Autoroutes 3,311 49.2% 3,265 49.6% +47 o/w VINCI Highways 161 29.8% 101 25.1% +60 Energy Solutions 2,250 7.6% 2,027 7.4% +223 VINCI Energies 1,606 7.4% 1,474 7.2% +132 Cobra IS 644 8.0% 553 7.8% +91 Construction 1,356 4.1% 1,247 3.8% +110 VINCI Construction 1,353 4.2% 1,304 4.1% +49 VINCI Immobilier 3 0.3% (57) (5.0%) Holding companies 16 35 Ebit 9,558 12.8% 8,997 12.6% +561 * Excluding concession subsidiaries’ construction work done by non- Group companies
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Net income attributable to owners of the parent, by business line 2025 FULL YEAR RESULTS45 in € million FY 2025 FY 2024 Δ 2025/2024 Concessions 2,951 2,726 +225 o/w VINCI Airports 1,140 947 +193 o/w VINCI Autoroutes 1,760 1,833 -73 o/w VINCI Highways 79 43 +37 Energy Solutions 1,253 1,159 +94 VINCI Energies 920 862 +58 Cobra IS 333 297 +36 Construction 827 792 +35 VINCI Construction 817 861 -45 VINCI Immobilier 10 (69) +79 Holding companies (128) 187 -314 Net income attributable to owners of the parent 4,903 4,863 +40 o/w France 44% 47% o/w International 56% 53% Net income attributable to owners of the parent (excluding the exceptional tax* contribution) 5,352 4,863 +445 +0.8% +10% * Negative impact of €449 m on net income caused by the exceptional contribution in 2025 on the profits of large companies i n France
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Cash flow statement 46 in € millions FY 2025 FY 2024 Ebitda 13,507 12,689 Change in WCR* and current provisions 2,496 2,311 Income taxes paid (3,005)** (2,220) Net interest paid (1,318) (1,177) Dividends received from companies accounted for under the equity method 282 117 Other variations (76) (6) Cash flows from operating activities 11,886 11,714 Operating CAPEX (net of disposals) (2,832) (2,708) Repayment of lease debt and associated financial expense (871) (745) Operating cash flow 8,183 8,261 Growth CAPEX in concessions & PPPs (1,173) (1,453) Free cash flow (after CAPEX) 7,010 6,808 Net financial investments and other cash flows*** (1,825) (6,984) Cash flow before movements in share capital 5,185 (176) Share capital increases and other operations 764 590 Share buy backs (2,002) (1,912) Dividends (incl. to non-controlling interests) (3,469) (3,472) o/w dividends paid to non-controlling interests (805) (902) Net cash flow for the period 477 (4,969) Consolidation impacts, FX and others 862 681 Change in net financial debt 1,340 (4,289) * Working Capital Requirement *** Other cash flows = dividend received from unconsolidated companies ** Negative impact of €(425) m due to the exceptional tax contribution in 2025 on the profits of large companies in France
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Operating CAPEX 2025 FULL YEAR RESULTS47 in € millions FY 2025 FY 2024 Δ 2025/2024 Concessions 439 318 +122 o/w VINCI Airports* 380 284 +96 o/w VINCI Autoroutes 23 20 +3 o/w VINCI Highways 12 1 +12 Energy Solutions 1,550 1,505 +45 VINCI Energies 310 274 +36 Cobra IS** 1,240 1,232 +9 Construction 1,022 1,055 -33 VINCI Construction 1,013 1,045 -32 VINCI Immobilier and holdings 9 10 -2 Purchases of tangible and intangible assets 3,011 2,878 +133 Proceeds from disposals of tangible and intangible assets (179) (170) -9 Operating CAPEX (net of disposals and other long-term advances) 2,832 2,708 +124 * Including London Gatwick capex (€226 million in 2025, €175 million euros in 2024) **Of which capex related to renewable energy production projects: €0.9 billion in 2025, €0.6 billion euros in 2024
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Growth CAPEX in concessions and PPPs 2025 FULL YEAR RESULTS48 in € millions FY 2025 FY 2024 Δ 2025/2024 Concessions 818 1,072 -254 o/w VINCI Airports 263 445 -182 o/w VINCI Autoroutes 565 604 -39 Of which: ASF 360 291 +69 Escota 124 196 -72 Cofiroute 79 108 -29 o/w VINCI Highways (4) 28 -32 Energy Solutions 326 348 -21 VINCI Energies (0) (1) +1 Cobra IS 327 349 -22 VINCI Construction 29 34 -5 Net growth CAPEX in concessions and PPPs 1,173 1,453 -280
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Free cash flow by business line 2025 FULL YEAR RESULTS49 in € million FY 2025 FY 2024 Δ 2025/2024 Concessions 3,890 3,554 +336 o/w VINCI Airports 1,245 1,052 +194 o/w VINCI Autoroutes 2,639 2,507 +132 o/w VINCI Highways 86 21 +65 Energy Solutions 1,204 1,575 -371 VINCI Energies 1,568 1,623 -54 Cobra IS* (365) (48) -317 Construction 1,710 821 +889 VINCI Construction 1,397 762 +635 VINCI Immobilier 313 58 +255 Holding companies 206 859 -652 Free cash flow 7,010 6,808 +202 Free cash flow (excluding the exceptional tax contribution)** 7,435 6,808 +627 * Including Zero.e’s capex on renewable energy production (€0.9 bn in 2025, €0.6 bn in 2024) ** Negative impact of €(425)m o/w €(255)m for VINCI Autoroutes and €(170) m for VINCI SA caused by the exceptional contributi on in 2025 on the profits of large companies in France
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Net financial debt by business line 2025 FULL YEAR RESULTS50 in € millions 31 Dec. 2025 Of which external 31 Dec. 2024 Of which external net debt net debt Concessions (29,124) (21,412) (31,739) (20,888) VINCI Airports (10,542) (9,056) (11,558) (8,744) VINCI Autoroutes (15,001) (11,057) (16,159) (11,296) VINCI Highways (2,315) (1,259) (2,032) (849) Other concessions* (1,265) (40) (1,991) 2 Energy Solutions 1,718 909 1,308 1,396 VINCI Energies 1,366 557 761 848 Cobra IS 352 352 547 547 Construction 3,801 2,569 3,418 2,197 VINCI Construction 4,176 2,488 4,116 2,134 VINCI Immobilier (375) 81 (698) 63 Holding cos & VINCI Immobilier 4,530 (1,141) 6,599 (3,120) Net financial debt (19,075) (19,075) (20,415) (20,415) of which gross financial debt (34,551) (33,496) of which net cash managed 15,475 13,081 * VINCI Concessions Holding, VINCI Railways, VINCI Stadium
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Consolidated balance sheet 2025 FULL YEAR RESULTS51 (in € millions) 31 Dec. 2025 31 Dec. 2024 Δ 31 Dec. 25 / 31 Dec. 24 Non-current assets – Concessions 48,842 50,182 -1,340 Non-current assets – Energy Solutions, Construction and misc. 28,967 26,516 +2,451 WCR, provisions and other current assets & liabilities (19,653) (17,296) -2,357 Capital employed 58,156 59,401 -1,245 Equity (34,328) (34,032) -295 O/w minority interests (3,576) (4,085) +509 Lease debt (2,849) (2,587) -261 Non-current provisions and misc. long-term liabilities (1,905) (2,367) +462 Long-term resources (39,081) (38,986) -95 Gross financial debt (34,551) (33,496) -1,055 Net cash managed 15,475 13,081 +2,394 Net financial debt (19,075) (20,415) +1,340 (Net financial Debt) / (Ebitda) multiple 1.4x 1.6x
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Maturity of LT gross financial debt 2025 FULL YEAR RESULTS52 Average maturity of LT gross financial debt (€34.6 bn) as of 31 December 2025: 5.5years* * Concessions: 6.4 years - Holdings and other divisions: 3.8 years € millions 0 1,000 2,000 3,000 4,000 5,000 6,000 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 & + Holdings & misc. Groupe ASF Cofiroute Arcour Arcos VINCI Airports Other concessions
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LT* gross debt: 46% at fixed rate, 54% at floating rate 2025 FULL YEAR RESULTS53 Gross financial debt breakdown between fixed and floating rates (in € billion) Floating rate & inflation linked debt Fixed rate debtGroup Ebitda Net cash managed Natural hedge between floating rate + inflation linked debt and Ebitda (linked to inflation) + net cash managed (remunerated based on short-term floating rate) 14.8 50% 16.0 48% 18.7 54% 14.5 50% 17.5 52% 15.9 46% 13.2 13.1 15.5 12.0 12.7 13.5 29.3 33.5 34.6 FY23 e f FY24 g h FY 25 i 7% 3% MXN 7% other currencies 1% PEN Breakdown of LT* gross financial debt by currency $ * Long-term Optimising the average cost of debt 31 December 2025 57% € 27% £
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2025 FULL YEAR RESULTS54 Other information
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2025 Group’s key figures broken down by business 55 16% 40% 45% 60% 21% 16% 3% 62% 24% 14% 60% 26% 17% -3% 55% 17% 24% 3% 80% 16% 3% 1% Energy Solutions Construction Concessions Holdings €74.6 bn €13.5 bn €9.6 bn €4.9 bn €7.0 bn €58.2 bn Revenue Ebitda Ebit Net income Free cash flow Capital employed * * Of which: - VINCI Airports capital employed €24.1 bn - VINCI Autoroutes capital employed €16.6 bn 2025 FULL YEAR RESULTS
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Order intake breakdown by business lines and granularity 56 2025 FULL YEAR RESULTS In € billions FY 2025 FY 2024 Change 25/24 VINCI Energies 22.3 22.1 +1% Order intake <€5 m 18.7 17.9 +4% Order intake <€50 m 3.2 2.9 +12% Order intake > €50 m 0.4 1.4 -68% Cobra IS 8.6 10.4 -17% Order intake <€5 m 4.1 4.2 -3% Order intake <€50 m 1.2 1.0 +21% Order intake > €50 m 3.3 5.2 -36% VINCI Construction 32.1 33.7 -5% Order intake <€5 m 18.2 18.6 -2% Order intake <€50 m 7.9 7.1 +12% Order intake > €50 m 5.9 8.1 -27% Group total 63.0 66.3 -5% Order intake <€5 m 41.0 40.6 +1% Order intake <€50 m 12.4 11.0 +13% Order intake > €50 m 9.7 14.7 -34%
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A growing international presence 2025 FULL YEAR RESULTS57 2015 Revenue 2015 revenue geographic breakdown 2025 revenue geographic breakdown INCREASED INTERNATIONAL EXPOSURE €43.8 bn €16.1 bn CAGR 2015/2025 +10.5% 2025 Revenue France Western Europe (ex. France) Central and Eastern Europe Africa Asia/Middle East/Oceania Americas 41% 34% 4% 2% 5% 13% €74.6 bn 58%21% 5% 4% 6% 6% €38.5 bn International France €22.4 bn +3.2% €30.8 bn
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58 Energy Solutions, VINCI Airports and other concessions generate year after year more Ebitda than VINCI Autoroutes VINCI Autoroutes VINCI Airports, VINCI Highways & other concessions Energy Solutions Construction Holdings and misc. * 2006 pro forma Ebitda figures as published in the presentation of the 2006 full year results, i.e. including the contribution of ASF/ Escota (took over on 10 March 2006) over the full year +€9.5 bn +€2.4 bn +€3.3 bn +€2.6 bn +€1.1 bn +€0.1 bn €2.4 bn / 59% €0.1 bn / 2% €0.2 bn / 6% €1.1 bn / 28% €0.2 bn / 6% 2006 PF - VA 206 PF - Autres €4.8 bn / 35% €3.4 bn / 25% €2.8 bn / 21% €2.2 bn / 16% €0.3 bn / 3% 2025 - VA 2025 - Autres ** Of which VINCI Airports: €3.0 bn / 23% ** Group Ebitda breakdown in 2006* Group Ebitda breakdown in 2025 in details 2025 FULL YEAR RESULTS €4.0 bn €13.5 bn +29% +22% excl. TEITLD 1 (1) excluding the tax on long-distance transport infrastructure in France
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Steady ROCE and ROE 2025 FULL YEAR RESULTS59 6.7% 9.2% 11.3% 11.4% 10.7% 12.4% 18.6% 18.1% 17.3% 16.4% 2021 2022 2023 2024 2025 ROCE ROE Return on capital employed (ROCE) is operating income after tax excluding non-recurring items (NOPAT), divided by the average capital employed between the opening and closing balance sheet positions for the financial year in question Return on equity (ROE) is net income for the current period attributable to owners of the parent, divided by equity excluding non controlling interests at the previous year end 11.6% 17.9% 2025 2025 excl. the increase in corporate tax in France
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EU Taxonomy – 2025 performance overview 2025 FULL YEAR RESULTS60 48% of eligible revenue Most contributing sectors to the eligibility and alignment of VINCI’s activities in 2025: • Transmission and distribution of electricity • Infrastructure for rail transport • Activities related to the energy performance of buildings • Construction and renovation of buildings • Electricity generation from wind power and solar PV 26% of aligned revenue 64% of eligible Capex 33% of aligned Capex
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2025: VINCI delivers improved performance across its climate, resources and natural environments pillars Optimise resources thanks to circular economy Preserve natural environments Act for the climate 2030 AMBITION 2030 AMBITION 2025 PERFORMANCE 2025 PERFORMANCE Recycled materials produced by VINCI Construction Reclaimed asphalt mix from VINCI Autoroutes reused on its own worksites 16 mt20mt 47%45% 23%100% 71%80% "Zero waste to landfill" from VINCI Airports Reclaimed inert waste at VINCI Energies 2030 AMBITION 2025 PERFORMANCE Performance 2025 Target 2030 Zero phytosanitary products used on Concessions’ sites Land take for VINCI Immobilier’s operations in France 81 86 16% 0% 69% Share of turnover certified ISO 14001 46%% renewable energy consumption 40% decrease scope1 &2 GHG emissions vs. 2018 26% 40% 20% 4% 32%90% 20% decrease scope 3 GHG emissions vs. 2019 90% low carbon concrete used by VINCI Construction
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VINCI’s ESG ratings in 2025 2025* 2024 CDP Climate A A- CDP Water Security B B CDP Forest B C Note:* • A score: demonstration of environmental leadership and science-based climate action across all operations and the value chain • B score: robust environmental management 6 airports achieved Net Zero emissions for Scopes 1 and 2 BBB 25.4 – Medium risk C+ 51 62 2025 FULL YEAR RESULTS
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VINCI’s social performance in 2025 63 4,000 long-term unemployed people supported in 2025 on integration programmes 6,500 high-school students welcomed on the orientation section of Give Me Five programme €7 m of funding provided to non- profits by the Group’s foundations (€77 m since 2002) 76% of companies without lost- time occupational accidents 0.42 workplace accident severity rate 5.70 lost-time workplace accident frequency rate 3,500,000 training hours in health and safety 24.3% female managers in 2025 (vs 18.5% in 2016) 25.5% of women sitting on the management committees of Group companies in 2025 (vs 8.6% in 2018) Objectives Increase to 30% by 2030 the proportion of women on management committees and in managerial positions 7,053,383 hours of training provided in 2025 92.6% permanent job contracts 10,386 young people under 25 years old recruited €589 m paid by the group to employee share ownership, incentive, profit-sharing and collective retirement plans in France Aiming for all-round performance and sharing the benefits of our performance with our stakeholders More than 87% of all employees can subscribe to an employee share ownership programme 84,785 people recruited worldwide 2025 FULL YEAR RESULTS
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2025 FULL YEAR RESULTS64 Business line profiles
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Concessions 2025 FULL YEAR RESULTS65
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66 2025 FULL YEAR RESULTS Concessions profile 2025 revenue by geographical area Revenue and Ebitda margin over the last 5 years 7.0 9.2 10.9 11.7 12.2 66.4% 67.7% 68.3% 66.7% 66.9% 2021 2022 2023 2024 2025 Revenue (€bn) Ebitda margin 58% 11% 15% 11% 5% €12.2 bn Portugal Americas RoW France UK
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67 2025 FULL YEAR RESULTS Concessions capex forecasts* * Forecast as of 31 December 2025 and including fully consolidated assets only VINCI Autoroutes 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2026e 2027e 2028e UK (Gatwick + Edinburgh + Belfast Int’l) Brazil Portugal (ANA) Mexico (OMA) France Dom. Rep. (Aerodom) Rest of world & misc. VINCI Airports Data in € billions
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USA 4 México 13 CostaRica 1 Dominican Republic 6 Chile 1 Brazil 8 Portugal 10 France 11 United Kingdom 3 Hungary 1 Serbia 1 Cabo Verde 7 Cambodia 2 Japan 3 68 2025 FULL YEAR RESULTS The most geographically diversified airport operator countries 14* Platforms in +70* VINCI Airports The world’s largest private airports operator (*) As of 31 December 2025
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VINCI Airports FY traffic details 69 * Data at 100%, irrespective of percentage held, including airport passenger numbers over the full period 2025 FULL YEAR RESULTS Passenger traffic (in thousands of pax) FY 2025 Change FY 25/FY 24 Domestic EU Schengen International Short-Haul International Long-Haul United Kingdom 66,431 +1.0% 16% 71% 13% o/w London Gatwick 42,771 -1.1% 5% 79% 16% o/w Edinburgh 16,979 +7.5% 27% 64% 9% o/w Belfast International 6,681 -1.1% 60% 40% 1% Portugal (ANA) 72,474 +4.7% 16% 52% 20% 12% o/w Lisbon 36,126 +2.9% Mexico 28,936 +8.9% 86% 13% 1% o/w Monterrey 15,760 +15.6% France 11,664 +2.0% 27% 41% 30% 3% o/w ADL (Lyon) 10,723 +2.3% 21% 40% 34% 5% Dominican Republic 6,260 -8.6% 1% 88% 11% Cambodia 5,509 +13.9% 2% 94% 3% Serbia 8,911 +6.5% 0% 96% 4% Brazil 13,129 +8.7% 94% 3% 3% o/w Salvador Bahia 8,074 +6.3% 93% 2% 4% USA 7,221 -4.9% Cabo Verde 3,482 +15.8% 33% 30% 37% Total fully-consolidated subsidiaries 224,017 +3.8% Japan (40%) 54,322 +10.0% 49% 42% 9% Hungary (20%) 19,584 +11.7% 0% 66% 29% 5% Chili (40%) 26,512 +1.0% Costa Rica (45%) 1,974 +3.3% AGO (85%) 7,200 +2.6% Rennes-Dinard (49%) 514 +0.3% Total equity-accounted subsidiaries* 110,106 +7.3% Total passengers managed by VINCI Airports* 334,123 +5.0% 33% 18% 40% 10% Traffic breakdown by destination
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VINCI Airports P&L 2025 FULL YEAR RESULTS70 (in € millions) FY 2025 FY 2024 Δ 2025/2024 Δ (€m) Revenue 4,796 4,526 +6.0% +270 o/w Aero 3,259 3,108 +4.8% +151 o/w Non-Aero 1,537 1,417 +8.4% +120 Ebitda 3,042 2,883 +5.5% +159 % of revenue 63.4% 63.7% Operating income from ordinary activities (Ebit) 2,459 2,334 +5.4% +126 % of revenue 51.3% 51.6% Profit/loss of equity-accounted cos. 132 80 Minority interests -346 -372 Net income attributable to owners of the parent 1,140 947 +20.4% +193
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VINCI Airports: main financial KPI by asset 2025 FULL YEAR RESULTS71 2025 (in € millions) Revenue o/w Aero o/w Non-Aero Ebitda Ebitda margin Capex Net Debt Net Debt / Ebitda UK 1,823 1,037 786 1,086 60% (330) (7,121) 6.6 of which London Gatwick 1,321 775 546 785 59% (226) (5,303) 6.8 of which Edinburgh 419 235 184 268 64% (92) (1,751) 6.5 of which Belfast International 83 26 57 33 40% (12) (67) 2.0 Portugal (ANA)* 1,402 1,036 366 951 68% (152) (312) 0.3 Mexico 633 502 131 458 72% (107) (489) 1.1 France 262 144 118 86 33% (20) (46) 0.5 of which Lyon 206 99 107 74 36% (17) (31) 0.4 Dominican Republic (Aerodom) 221 171 50 177 80% (59) (597) 3.4 Cambodia 127 111 16 86 68% (8) 323 Serbia 158 117 41 97 61% (28) (579) 6.0 Brazil 114 95 19 49 43% (20) (230) 4.7 of which Salvador Bahia 51 39 12 28 54% (8) (43) 1.5 USA 4 - - 1 28 Cabo Verde 49 42 6 25 52% (39) (85) 3.3 Miscellaneous and holdings 3 3 25 125 (1,434) Total fully consolidated subsidiaries 4,796 3,259 1,537 3,042 63% (637) (10,542) 3.5 Main equity accounted assets** Revenue o/w Aero o/w Non-Aero Ebitda Ebitda margin Capex Net Debt Net Debt / Ebitda Contribution to VINCI net income Japan (40%) 1,621 678 943 703 43% (182) (332) 0.5 112 Hungary (20%) 773 645 128 328 42% (44) (1,232) 3.8 32 * Including Portway ** Figures at 100% (except net income as mentioned) An excel file with VINCI Airports data is available on VINCI website: vinci-concessions-toolbox-fy-2025
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VINCI Airports network (1/2) 2025 FULL YEAR RESULTS72 ** DSP (outsourced public service) *** The termination of the concession for reasons of general interest was decreed on 24 October 2019. The termination is intended to take effect at the latest on the signature date of the new concession contract. The asset is equity-accounted since July 2024 As of 31st December 2025 Country Name Description mpax in 2025 End of concession VINCI share Traffic risk Consolidation UK London Gatwick Freehold 42.8 - 50% Yes Full consolidation Edinburgh Airport Freehold 17.0 - 50% Yes Full consolidation Belfast International Freehold 6.7 2993 100% Yes Full consolidation Portugal ANA (10 airports in Lisbon, Porto, Faro, Madeira, Azores islands) Concession 72.5 2062 100% Yes Full consolidation Of which Lisbon airport 36.1 Japan Kansai airports (Kansai International, Osaka Itami, Kobe) Concession 54.3 2060 40% Yes Equity method Of which Kansai International 34.1 Chile Santiago Concession 26.5 2035 40% Yes Equity method Mexico OMA (13 airports) Of which Monterrey international Concession 28.9 15.8 2048 29.99% Yes Full consolidation France Lyon airports (Lyon-Bron, Lyon Saint-Exupéry) Concession 10.7 2047 30.6% Yes Full consolidation Chambéry, Clermont-Ferrand, Grenoble* DSP** 0.7 2025 to 2030 100% Yes Full consolidation Bretagne Rennes & Dinard DSP** 0.5 2026 49% Yes Equity method Aéroports du Grand Ouest (Nantes Atlantique, Saint-Nazaire) Concession 7.2 *** 85% Yes Equity method Toulon-Hyères Concession 0.2 2040 100% Yes Full consolidation Annecy Mont-Blanc Concession n.a. 2037 100% Yes Full consolidation * End of Grenoble DSP contract in July 2026
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VINCI Airports network (2/2) 2025 FULL YEAR RESULTS73 As of 31st December 2025 Country Name Description mpax in 2025 End of concession VINCI share Traffic risk Consolidation Cambodia Sihanoukville Concession 5.5 2040 70% Yes Full consolidation Techo International (Phnom Penh) Management contract No Full consolidation USA 4 airports: Hollywood Burbank Airport (California), Atlantic City (New Jersey), Macon Downtown Airport and Middle Georgia Airport (Georgia) Management Contracts 7.2 n.a 100% No Full consolidation Brazil Salvador Bahia Concession 8.1 2047 100% Yes Full consolidation 7 airports in the North Region: Manaus, Porto Velho, Rio Branco, Boa Vista, Cruzeiro do Sul, Tabatinga and Tefé Concession 5.1 2051 100% Yes Full consolidation Serbia Belgrade Concession 8.9 2045 100% Yes Full consolidation Dominican Republic Aerodom (6 airports of which Santo Domingo airport) Concession 6.3 2060 100% Yes Full consolidation Costa Rica Guanacaste Concession 2.0 2030 44.7% Yes Equity method Cabo Verde The 7 airports of the Cabo Verde archipelago Concession 3.5 2063 100% Yes Full consolidation Hungary Budapest Concession 19.6 2080 20% Yes Equity method
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74 2025 FULL YEAR RESULTS countries 14* km in ~8,200* VINCI The world leading motorway operator * As of 31 December 2025 ** urban street networks USA ~15 km Canada ~250 km Portugal ~30 km Peru ~25 km Colombia ~140 km Brazil ~1,200 km France ~4,450 km Ireland Toll operator UK ~1,260 km** Germany ~230 km Czech Republic ~50 km Slovakia ~50 km Greece ~510 km India Toll operator
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VINCI Autoroutes France’s leading toll road concession operator 75 2025 FULL YEAR RESULTS ASF ESCOTA Cofiroute A19-Arcour A355: Arcos: Western Strasbourg bypass (1) Toll tunnel connecting Rueil-Malmaison to Versailles and Vélizy 4,443 km approx. 50% >35% under concession of conceded French toll roads of total motorway network in France Apr. 2036 Feb. 2032 Jun. 2034 Dec. 2086 Dec. 2070 Jan. 2070 2,737 km 471 km 1,100 km 11 km 101 km 24 km End of concession Network size (1)Intercity network
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VINCI Autoroutes traffic 76 VINCI Autoroutes - Rolling twelve-month traffic over 10 years CAGR Q4 2025/ Q4 2015 Total +1.1% LV +1.0% HV +1.7% 80 85 90 95 100 105 110 115 120 125 Q4 15 Q2 16 Q4 16 Q2 17 Q4 17 Q2 18 Q4 18 Q2 19 Q4 19 Q2 20 Q4 20 Q2 21 Q4 21 Q2 22 Q4 22 Q2 23 Q4 23 Q2 24 Q4 24 Q2 25 Q4 25 LV HV Total French GDP FY 2025 VINCI Autoroutes traffic Total +0.7% ASF Escota Cofiroute (Intercity network) +0.9% Δ FY 2025/FY 2024 +0.9%0.9% +0.9% +0.8% +1.1% +1.1% +1.2% +0.7% +0.8% +0.3% Of which: 2025 FULL YEAR RESULTS French GDP * +1.1% * Rolling twelve-month French GDP from Q4 15 to Q3 25. Source INSEE (the national statistic bureau of France), dataset GDP (vol umes chained at previous year prices) *
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77 2025 FULL YEAR RESULTS VINCI Autoroutes Contractually CPI-linked tariffs Contractual framework of toll increases (LVs) ASF Escota Cofiroute Intercity Network 2026* 0.62% 0.62% 1.21% 2027-2030 70% x i 70% x i 83% x i + 0.173% After 2030 70% x i 70% x i 83% x i i = Consumer price index excl. tobacco products at end October Y-1 * Applied on 1 February 2026
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78 2025 FULL YEAR RESULTS VINCI Highways FY traffic details * VINCI Highways took over the operation of Via Cristais (BR-040) in March 2025 ** Prado Sud (France), Prado-Carénage (France), A4, A5 (Germany), Aegean Motorway (Greece) Traffic (in millions of km) FY 2025 Change FY 25/ FY 24 Total fully consolidated subsidiaries Lima Expresa (Peru) 826 +1.9% Rion-Antirion bridge (Greece) 16 +1.3% Via Sumapaz (Colombia) 1,150 +30% Entrevias (Brazil) 2,144 +1.9% Via Cristais (Brazil)* 1,253 Denver Northwest Parkway (USA) 75 -0.4% Confederation bridge (Canada) 14 +9.5% Total equity-accounted subsidiaries Olympia Odos (Greece) 2,040 +4.6% Lusoponte (Portugal) 399 +2.0% Others** 1,637 +0.6%
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VINCI Highways: main financial KPI by asset 2025 FULL YEAR RESULTS79 2025 (in € millions) Revenue (€m) Ebitda (€m) Ebitda margin Capex (€m) Net Debt (€m) Net debt / Ebitda Traffic-risk concessions Lima Expresa (Peru) 140 93 66% (5) (517) 5.6 Rion-Antirion bridge (Greece) 58 48 83% (1) (15) 0.3 Via Sumapaz (Colombia) 32 1 4% 89 (744) Entrevias (Brazil)* 25 19 76% (28) (524) Via Cristais (Brazil)** 68 25 36% (53) 14 Denver Northwest Parkway (USA) 38 24 64% (1) (252) 10.5 Confederation bridge (Canada) 42 29 69% (0) (33) 1.2 Mobility Solutions (ETC) 120 25 21% (5) (7) Operations & Maintenance (O&M) services 20 8 39% (2) 9 Holdings 10 (245) Total fully consolidated subsidiaries 543 282 52% (7) (2,315) 8.2 Entrevias (Brazil)* - FY figures 125 89 71% (140) (524) 5.9 * Entrevias is fully consolidated since October 2025 (previously equity-accounted) ** VINCI Highways took over the operation of Via Cristais (BR-040) in March 2025 An excel file with VINCI Highways data is available on VINCI website: vinci-concessions-toolbox-fy-2025
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VINCI Highways (1/2) 2025 FULL YEAR RESULTS80 Country Type Name Description End of concession VINCI share Traffic risk Consolidation Road Infrastructure Germany Motorway A7 Bockenem-Göttingen 60 km 2047 50% no Equity method Motorway A4 Horselberg 45 km 2037 50% yes Equity method Motorway A9 Thuringia/Bavarian border 47 km 2031 50% no Equity method Motorway A5 Malsch–Offenburg 60 km 2039 54% yes Equity method Motorway B247 Mühlhausen-Bad Langensalza 22 km 2051 50% no Equity method UK Public highway network Hounslow PFI 432 km roads; 762 km sidewalks 2037 50% no Equity method Public highway network Isle of Wight PFI 821 km roads; 767 km sidewalks 2038 50% no Equity method Bypass Newport Southern crossing 9 km 2042 50% yes Equity method Slovakia Motorway Expressway R1 52 km 2041 50% no Equity method Czech Republic Motorway D4 Via Salis 49 km 2049 50% no Equity method Greece Motorway Olympia Odos (Athens-Pyrgos) 277 km 2038 / 2044 36.0% yes Equity method Motorway Aegan Motorway (Maliakos–Kleidi) 230 km 2038 15.3% yes Equity method Canada Motorway Regina bypass 61 km 2049 37.5% no Equity method Motorway Fredericton-Moncton expressway 195 km 2028 25% yes Equity method USA Ring road Denver Northwest Parkway 14 km 2106 100% yes Full consolidation Peru Ring road Lima Expresa 25 km 2049 100% yes Full consolidation Brazil Motorway Entrevias* 570 km 2047 55% yes Full consolidation Motorway Via Cristais (BR-040)** 594 km 2055 100% yes Full consolidation Colombia Motorway Via Sumapaz (Bogotá-Girardot) 141 km, 2046 75% yes Full consolidation Concession or PPP infrastructure under construction As of 31st December 2025 ** Takeover of operations in March 2025 * Entrevias is full integrated since October 2025 (previously equity-accounted)
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VINCI Highways (2/2) 2025 FULL YEAR RESULTS81 Country Type Name Description End of concession VINCI share Traffic risk Consolidation Bridges & Tunnels France Tunnel Prado Carénage 2.5 km road tunnel, Marseille 2033 34.2% yes Equity method Tunnel Prado Sud 1.5 km road tunnel, Marseille 2055 58.5% yes Equity method Canada Bridge Confederation bridge Prince Edward Island - mainland 2032 85% yes Full consolidation Greece Bridge Rion–Antirion 2.9 km mainland–Peloponnese link 2039 72.3% yes Full consolidation Portugal Bridge Lusoponte Vasco de Gama - Lusoponte 2030 49.5% yes Equity method USA Bridge & Tunnel Ohio River Bridge Bridge (762 mtrs) and tunnel (512 mtrs), Louisville, KY 2051 33.3% no Equity method ETC (electronic toll collection) contracts USA ETC contract ViaPlus USA ETC services in the USA 2026 to 2035 100% n.a. Full consolidation India ETC contract ViaPlus India ETC services in India 2027 to 2032 100% n.a. Full consolidation Ireland ETC contract Turas ETC services for Dublin ring- road (M50) 2031 60% n.a. Full consolidation As of 31st December 2025
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Other concessions 2025 FULL YEAR RESULTS82 VINCI Railways Country Type Name Description End of concession VINCI share Traffic risk Consolidation France Rail SEA High-Speed-Rail 302 km of high-speed rail line between Tours and Bordeaux 2061 42.0% yes Equity method Other concessions Country Type Name Description End of concession VINCI share Traffic risk Consolidation France Building Park Azur Car rental centre, Nice Airport 2040 100% no Full consolidation Energy Lucitea Public lighting, Rouen 2027 100% no Full consolidation eliso Electric vehicle charging stations in Germany 2035 100% no Full consolidation Bus TCSP Martinique Operation and maintenance of bus route and vehicles 2035 100% no Full consolidation Hydraulic Bameo Operation & maintenance of 31 dams on the Aisne and Meuse rivers 2043 50% no Equity method As of 31st December 2025 VINCI Stadium Country Type Name Description End of concession VINCI share Traffic risk Consolidation France Stadium Marie-Marvingt 25,000 seats, Le Mans 2044 100% yes Full consolidation Stadium Allianz Riviera 36,000 seats, Nice 2041 50% yes Equity method
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Energy Solutions 2025 FULL YEAR RESULTS83
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84 2025 FULL YEAR RESULTS Energy Solution profile 2025 revenue by geographical area Revenue and Ebit margin over the last 4 years 22.3 25.8 27.5 29.6 7.0% 7.1% 7.4% 7.6% 2022 2023 2024 2025 Revenue (€bn) Ebit margin 29% 17%34% 8% 4% 8% €29.6 bn Germany Latin America North America France Rest of Europe RoW
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85 2025 FULL YEAR RESULTS VINCI Energies Making energy transition and digital transformation a reality 40% 18% 5% 25% 5%4%4% €21.6 bn 2025 revenue by geographical area Germany Scandinavia Rest of Europe France Americas Africa RoW Est. Revenue split Public Non public France 8% 31% International 9% 52% Total 17% 83% Revenue and Ebit margin over the past 5 years ~2,200 Business units 15.1 16.7 19.3 20.4 21.6 6.5% 6.8% 7.0% 7.2% 7.4% 2021 2022 2023 2024 2025 Revenue (€bn) Ebit margin €70 k Average contract size
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2025 FULL YEAR RESULTS86 Electrical systems Heating, ventilation, air conditioning Fire safety Video surveillance and access control Maintenance and services Transport infrastructure: technical equipment and management systems Energy infrastructure: electromechanical equipment of power plants, substation, transportation and distribution networks Renewable energies and storage Public lightning Electric mobility Telecommunication and enterprise networks Data storage (cloud infrastructure and data centres) Business networks Digital Workspace Data analysis and business applications Cybersecurity ICT (Information Communication Technology) Infrastructure (energies and transport) Building Solutions 31% Process control and automation Electrical and instrumentation Mechanical and piping Process utilities Robotics Industry 23% 28% 18% = % of the division’s 2025 revenueXX % VINCI Energies Making energy transition and digital transformation a reality
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VINCI Energies: revenue details by business line 2025 FULL YEAR RESULTS87 ICT Infrastructure Building Solutions Industry Power €0.8 bn Transmission €1.3 bn Substation €1.2 bn Territories €0.6 bn Distribution €2.1 bn Energy infrastructure: €6.0 bn Transport infrastructure: €0.8 bn Technical equipment & management system €6.8 bn +6% €4.9 bn +8% €6.1 bn +8% €3.8 bn +1% €X.X bn = revenue in 2025 +XX% = 2025/2024 revenue change Electrical engineering €2.1 bn Mechanical, thermal and fluids €1.5 bn Process control and automation €1.3 bn Electrical engineering €2.0 bn Services & Maintenance €1.6 bn HVAC €1.4 bn Fire protection €0.8 bn Smart Building €0.2 bn Interior fittings €0.1 bn Telecom infrastructure €1.5 bn Cloud & Data Center infrastructure €0.6 bn Enterprise networks €0.6 bn Business Apps, Data analytics €0.4 bn Cybersecurity €0.4 bn Digital workspace €0.3 bn
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88 2025 FULL YEAR RESULTS Cobra IS A leading company in applied industrial engineering and specialised services and a global player in the energy sector 39% 26% 16% 3% 3% 4% 9% 2025 revenue by geographical area Latin America Germany Portugal Spain North America Middle East RoW 3.9 GW under construction or Ready-to-Build 5.5 6.5 7.1 8.0 7.4% 7.5% 7.8% 8.0% 2022 2023 2024 2025 Revenue (€bn) Ebit margin 1.2 GW in production 535 Business units€285 m Average contract size in EPC projects Est. Revenue split Public Non public Spain 18% 21% International 11% 50% Total 25% 75% €8.0 bn Revenue and Ebit margin over the past 4 years Portfolio of Zero.e: renewable energy assets production at the end of 2025
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2025 FULL YEAR RESULTS89 Cobra IS A leading company in applied industrial engineering and specialised services and a global player in the energy sector Design, engineering, supply and construction of projects related to the energy sector (HVDC converters, power transmission lines, renewable and conventional power plants, water infrastructure) Design, engineering, supply and construction of electricity distribution lines and all type of gas, water and communication infrastructure and services Management and maintenance of public lightning Integration and supply of traffic control/tunnelling systems Management of all urban and interurban intelligent transport systems and smart city projects Control systems Networks Integrated projects Construction, installation and maintenance of high- voltage electrical networks, air conditioning installations, mechanical and naval assembly, railway installations Integrated maintenance of all types of infrastructure, industry and building Facilities 14% 26% 45%16% = % of the division’s 2025 revenueXX % Flow business EPC Projects
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Construction 2025 FULL YEAR RESULTS90
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91 2025 FULL YEAR RESULTS VINCI Construction France’s leading construction company and a major global player 44% 16% 7% 8% 15% 5% 3% 2% €32.1 bn RoW UK Central & Eastern Europe France Rest of Europe Americas Oceania Africa Est. Revenue split Public Non public France 24% 20% International 32% 24% Total 56% 44% 26.3 29.3 31.5 31.8 32.1 3.7% 3.8% 4.0% 4.1% 4.2% 2021 2022 2023 2024 2025 Revenue (€bn) Ebit margin ~1,300 Business Units 2025 revenue by geographical area Revenue and Ebit margin over the past 5 years €450 k Average contract size
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2025 FULL YEAR RESULTS92 VINCI Construction France’s leading construction company and a major global player Roadworks Maintenance and management of roads and motorways Asphalt industries: 380 asphalt production plants and 40 binder manufacturing plants Aggregates: 360 quarries (3.1 bn tonnes of reserves) & 230 recycling sites producing 82 m tonnes of aggregates per year (Group share), o/w 16 m recycled Non residential / Residential Refurbishment / New build Rail works Earthworks Water infrastructure Networks Building Roads Civil engineering Geotechnical engineering Structural engineering Nuclear civil works Civil works 28% 45% 9% = % of the division’s 2025 revenueXX % 17%
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54% 14% 20% 12% 4,177 93 2025 FULL YEAR RESULTS VINCI Immobilier 2025 reservations by destination Revenue – non residential (€bn) Revenue – residential (€bn) Revenue over the past 5 years 1.6 1.5 1.2 1.1 1.1 2021 2022 2023 2024 2025 Social, Institutional Managed residences Private owners Buy to let private investors €1.3 bn 2025 managed revenue* Presence in 26 cities in France (+ in Monaco and Poland) * Including VINCI Immobilier’s share in joint developments73% 11% 8% 9% 1,105 2025 revenue by sector Services Residential Offices Hotels
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2025 FULL YEAR RESULTS94 Notes
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2025 FULL YEAR RESULTS95 Notes
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96 2025 FULL YEAR RESULTS Team Grégoire THIBAULT Head of investor relations gregoire.thibault@vinci.com +33 1 57 98 63 84 Antoine BASTIEN Investor relations officer antoine.bastien@vinci.com +33 7 65 23 85 39 Marie RICHARD Investor relations officer marie.richard@vinci.com 14 24 April 2026 VINCI Shareholders meeting Agenda April 2026 23 April 2026 VINCI Q1 2026 publication 22 April 2026 Ex-dividend date +33 1 57 98 66 53 Céline LOUVET Investor relations assistant/ roadshow coordinator celine.louvet@vinci.com +33 1 57 98 66 54 Dividend payment (all cash)