RUEIL-MALMAISON (dpa-AFX) - Vinci SA (VCISY.PK) reported that its net income attributable to owners of the parent for fiscal year 2016 rose to 2.505 billion euros from 2.046 billion euros last year.
Xavier Huillard, VINCI's Chairman and CEO, said, 'Despite uncertainty regarding the global economy, we expect increased activity in both our Concessions and Contracting businesses in 2017, along with higher Group earnings, because of our strong order book, the improving outlook of our markets and the momentum arising from our combined Concessions-Contracting business model.'
Net income attributable to owners of the parent for fiscal year 2016 amounted to 2.376 billion euros before non-recurring changes in deferred tax in 2016, up 16.2% compared with 2015.
Under France's 2017 Finance Act, adopted in late December 2016, the corporate income tax rate in France will fall from 33.33% to 28% for all companies as of 2020. That change led the Group to adjust its deferred tax calculations, resulting in a net gain of 129 million euros being recognised in the 2016 consolidated financial statements.
Ebitda totalled almost 6.0 billion euros, up 5.3% with respect to 2015.
Consolidated revenue totalled 38.1 billion euros, down 1.2% relative to 2015. The 1.8% like-for-like decline in revenue and the negative impact of exchange rate movements (-1.2%) were partly offset by the positive impact of recent acquisitions (+1.9%).
In 2017 as a whole, VINCI expects consolidated revenue, operating income and net income12 to rise.
The Board of Directors has decided to propose a 2016 dividend of 2.10 euros per share, representing an increase of 14.1%, to the Shareholders' General Meeting on 20 April 2017.
Copyright RTT News/dpa-AFX