Vinci plc 鈥� which includes Vinci Construction UK, Vinci Facilities, Taylor Woodrow, Conren and Vinci UK Developments 鈥� saw only single-digit declines in turnover and profit for the year to 31st December 2020.
Revenues for Vinci plc fell less than 6% to 拢858.5m (2019: 拢909.2m) while pre-tax profit was down only 5% to 拢16.2m (2019: 拢17.1m).
The French-owned company ended the year with net assets of 拢76.9m (2019: 拢90.6m).
Building division turnover in the UK fell in 2020 to 拢381m (2019: 拢429m), primarily due to the pandemic delaying projects and contract awards. Vinci also suffered two project cancellations.
Civil engineering turnover (Taylor Woodrow) was up 4% to 拢172m (2019: 拢165m) but was down on the budgeted 拢201m due to the delayed start of HS2. Taylor Woodrow has secured 拢1bn of HS2 work over the next six years, with the N1 and N2 main work civils contract.
Vinci Facilities鈥� revenue of 拢86m in 2020 was 27% ahead of budget.
Chief executive Gilles Godard said that what Covid took away from the business with one hand, it delivered with the other. 鈥淲hilst the pandemic has impacted our clients in the retail and accommodation and catering industries very hard, we have also been in a position to help our clients in the health sector, and in particular the NHS to fight the battle against the virus. As a result our divisions have generated a positive margin in 2020.鈥�
He added: 鈥淥verall, the business managed to achieve a net result of 1.8% and maintained its cash position above 拢250m. Bidding opportunities are strong and, as a result of the formal award of the HS2 N1 + N2 main civils work, our order book exceeds 拢2bn.鈥�
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