Vinci (DG) H1 2026 (Media) earnings summary

Executive summary

• Revenue increased by 2.1% year-over-year to €35.6 billion, with 4.2% growth in Q2 and 59% generated internationally.

• EBITDA rose 4.5% to €6.4 billion (18.0% margin), and net income attributable to owners grew 9.6% to €2.1 billion.

• Earnings per share climbed 11% to €3.70, supported by a €1.0 billion share buyback.

• Free cash flow was positive at €264 million, and order intake reached €34.4 billion (+8%), with a record order book of €76.8 billion.

• 2026 guidance confirmed, with interim dividend set at €1.10 per share.

Financial highlights

• Operating income from ordinary activities (EBIT) rose 5.4% to €4.4 billion (12.3% margin).

• Net financial debt at 30 June 2026 was €22.4 billion, down €0.9 billion year-over-year.

• Liquidity remained strong with €11.5 billion in net cash and a €6.5 billion unused credit facility.

• Interim dividend of €1.10 per share approved, to be paid on 15 October 2026.

Outlook and guidance

• Revenue, operating earnings, and net income expected to grow further in 2026.

• Free cash flow could reach €6 billion for the full year.

• Energy Solutions to see mid to high single-digit revenue growth and margin improvement.

• Construction revenue expected to be stable, with EBIT margin at least as high as 2025.

• Zero.e renewable electricity generation capacity targeted to rise from 5 GW to 6 GW by year-end.