Vinci SA (VCISF) Q2 2025 Earnings Call Transcript

2025-08-01 08:07:20 ET

Vinci SA (VCISF)

Q2 2025 Earnings Conference Call

July 31, 2025 04:30 AM ET

Company Participants

Arnaud Grison - Chairman & CEO of VINCI Energies

Christian Labeyrie - CFO & Executive VP

Nicolas Dominique Notebaert - Chief Executive Officer of VINCI Concessions

Pierre Anjolras - COO & CEO

Conference Call Participants

Ami Galla - Citigroup Inc., Research Division

Dario Maglione - BNP Paribas Exane, Research Division

Eric A. Lemarie - CIC Market Solutions (ESN), Research Division

Nicolas J. Mora - Morgan Stanley, Research Division

Ruairi Cullinane - RBC Capital Markets, Research Division

Sven Edelfelt - ODDO BHF Corporate & Markets, Research Division

Presentation

Pierre Anjolras

Good morning, everyone. I'd like to thank you for being part of this meeting to present the accounts for VINCI. It will be my first time commenting the financial results as the new Director General of the group, which is a position that I have since the 1st of May. It's an honor and indeed a pleasure for me to be here today. As you will have heard and as you will continue to read, as in previous financial years, our financial results are once again of excellent quality. I am here with Christian Labeyrie, our Deputy Director, General and Financial Director, the other members of ExCom and our Investor Relations teams. We will make ourselves available to answer any questions you may have.

First of all, let's talk about Australia. In April, Cobra wrapped up the funding for the very first PPP for electrical distribution in Australia. It's a 35-year contract and it involves design, financing, building and maintenance of more than 240 kilometers of electrical lines, 8 substations and their connections to renewable energy production sites. Works have broken ground and will last for 5 years. Seeing as we have this picture on the board, I'd like to remind you that Cobra has already finished a number of PPPs of this type in Brazil. And especially, investments are required around the world in a way that will facilitate a transition towards green energy. The need is enormous. And the recent blackouts and brownouts that we've seen in a number of European countries further demonstrate just how important and vital these investments are and indeed urgent. These projects are a strong and sustainable driver for VINCI's business lines....

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