Vinci Posts First-Half Profit Rise, Backs 2023 Guidance

By Pierre Bertrand

Vinci reported an increase in first-half earnings Friday, and backed its 2023 guidance after a six-month period of growth across its business.

The French infrastructure company said it made 2.09 billion euros ($2.30 billion) in net profit in the half, compared with EUR1.90 billion in the same period the prior year, on total sales that rose 14% to EUR32.73 billion.

Revenue and earnings growth was supported by all three of its businesses.

Vinci booked EUR31.2 billion in new orders during the period, and said that its orderbook as of the end of June had grown 9% to EUR61.5 billion.

Vinci said its board had approved an interim dividend of EUR1.05 a share that it would pay in November.

The company also said that it had positive cash flow of EUR261 million in the first half, compared with a prior-year cash outflow of EUR281 million.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

July 28, 2023 01:45 ET (05:45 GMT)

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