Report
Sven Edelfelt

Vinci : Excellente année 2022 en perspective

>FCF entre 4 et 5 Md€ : la nouvelle norme ! - Une nouvelle fois, la bonne surprise de la publication des résultats annuels de Vinci était sa génération de cash qui ressort à 5.3 Md€ (vs 3.3 Md€ attendu par le consensus) largement au-dessus du niveau de 2020 (3.99 Md€) et même de 2019 (4.2 Md€) alors que l’EBITDA reste 7% en dessous. L’excellente gestion du BFR (+1.6 Md€) notamment chez Vinci Energies et Vinci Construction semble en être la principale explication....
Underlying
VINCI SA

Vinci is engaged in building, civil engineering and facilities management. Through its subsidiaries, Co. is engaged in five divisions comprising of: the Building division which provides retail solutions including construction and fit-out in both the retail and commercial sectors; the Civil Engineering division; the Air division which provides program management, engineering and construction services to customers with airport infrastructure requirements; the Technology division; and the VINCI Facilities division which provides facilities management, repair and maintenance and small works in both the private and public sectors.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Sven Edelfelt

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