DG Vinci

   By Giulia Petroni 
 

Vinci SA said Friday that net profit fell in 2020 as performance was severely hit by the coronavirus pandemic.

The French construction and infrastructure company said net profit came in at 1.24 billion euros ($1.49 billion) in the full year compared with EUR3.26 billion a year earlier.

Revenue was EUR43.23 billion, down from EUR48.05 billion the previous year.

Revenue at Vinci's concessions business, which manages toll roads and airports, fell 34% on a like-for-like basis to EUR5.84 billion, the company said.

Vinci said it isn't currently able to provide a reliable earnings forecast for 2021 due to uncertainties, and that it doesn't expect 2021 earnings to recover to 2019 levels.

The company said visibility remains limited for its concessions business, where performance depends on Covid-19 developments, while in contracting it aims to increase revenue and improve operating margins across business lines.

Vinci said it will propose a dividend of EUR2.04 a share for 2020, in line with the previous year.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 05, 2021 02:12 ET (07:12 GMT)

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