The expert speak
Olivier Dauzat
Deputy editor-in-chief, Le Revenu
An effective concessions/contracting business model
I have been writing about VINCI for over 15 years and this Group has widely proven its resilience as well as its business model’s soundness, particularly since the pandemic. Its net income last year once again reached an all-time high, at €4.26 billion! Its dividend policy is also attractive, with a pay-out rate at 53.5%, slightly higher than average (50%). VINCI’s success stems from its high-performing “concession-construction” model, decentralised organisation and solid geographical coverage. The Group has built the leading private operator in the airport sector in only a few years, while vigorously embarking on a strategic shift into renewable energies. VINCI’s move into this new high-potential market segment shows the executive team’s ability to swiftly adapt its strategy. VINCI shares are essential in any long-term portfolio.