VINCI Airports Continued to Make Firsts in 2020

Justin Lee

Singapore

April 26, 2021

Overview of London Gatwick Airport EGKK LGW   JP6327343

Source: VINCI 2020 Full-Year Results

As a global integrator, VINCI Airports develops, finances, builds and provides everyday operation of 45 airports in Europe, Asia and the Americas. As reported by airportIR earlier this month, VINCI is also set to add another seven airports to its expanding global portfolio with its successful bid for the Northern bundle in Brazil’s 6th round auction.

Once these airports are transferred (likely by the end of this year, or early 2022),  VINCI will share the title of ‘largest global network of airports under private management’ with Corporación América. For the year 2020, traffic at the 45 airports operated by VINCI Airports saw a 70% year-on-year decline to 77 million passengers due to the outbreak of the COVID-19 pandemic in the early part of the year. The recovery of passenger traffic continues to be hampered by restrictions on travel due to new COVID19 outbreaks  around the world. VINCI Airports saw its revenues for 2020 fall by 62.4% on an actual basis to EUR 990mn with the steep decline in airline activity around the world.

Source: VINCI 2020 Full-Year Results

It made a loss of EUR 369mn at the EBIT level in 2020, despite drastic cost-cutting measures introduced rapidly at the start of the pandemic. The airport operator’s 2020 EBITDA was at EUR 146mn, with EBITDA margin falling to 14.7% (compared to 55.7%) in 2019.

While VINCI Airports faced challenges like all other airport operators in terms of financial performance in 2020, the airport network continued to operate without interruption, even through lockdowns, to perform their public service missions. More importantly, its achievements at its airports showed that it was at the forefront of achievements in technology, health and safety as well as environment and that it continued to be the first in many areas.

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