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Vinci Swings To Profit In H1

Vinci (VCISY.PK) reported first-half net income attributable to owners of the parent of €682 million compared to a loss of €294 million last year. Earnings per share was €1.19 versus a loss of €0.53 per share in the prior year period.

Net income attributable to owners of the parent, excluding non-recurring changes in deferred tax, amounted to €877 million compared to a loss of €244 million in the same period of last year.

Revenue for the period increased 22.3% to €22.6 billion from €18.5 billion generated a year ago.

Consolidated net financial debt was €18.6 billion at 30 June 2021, down more than €3.5 billion relative to 30 June 2020.

Xavier Huillard, VINCI's Chairman and CEO, said, "The first half of 2021 brought a sharp upturn in revenue and earnings compared with 2020. Free cash flow was positive, despite seasonal business variations that traditionally have a negative impact in the early part of the year..."

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