Vinci S.A.

VINCI SA declared purchases of 478,909 treasury shares from August 10 to August 14, 2026, under its share buyback authorization. The transactions were executed on the XPAR and CEUX markets at a daily weighted average price of 123.1363 euros per share. The largest daily volume was 135,000 shares on August 13 on XPAR, with an additional 10,000 shares on CEUX the same day. Detailed transaction information is available on the VINCI website in accordance with EU Market Abuse Regulation.

Vinci has raised its interim dividend to €1.10 per share from €1.05 in 2025 and confirmed its 2026 earnings guidance during its H1 2026 earnings call. The company also reported recent treasury share buybacks. Vinci shares trade at €124.50, with a 4.62% one-month gain and a 65% five-year total shareholder return. A popular analyst narrative sets a fair value of €143.50, implying the stock is 13.2% undervalued, while a Simply Wall St discounted cash flow model points to a fair value of €115.66, suggesting overvaluation.

Vinci SA delivered a strong first half of 2026, with revenue up 2% and EBITDA rising 4% to EUR6.4 billion, while its order book reached a record of nearly EUR77 billion, up 8% year-on-year and representing 15 months of activity. Energy Solutions continued its momentum with revenue up 7% and a margin improvement of 40 basis points to 7.8%, positioning it among top global performers. Free cash flow was positive at EUR264 million, and the company confirmed its 2026 guidance for further growth despite a challenging geopolitical and macroeconomic environment. Concessions traffic was impacted by geopolitical tensions and macroeconomic factors, including a fuel price hike and exceptional heat waves, leading to a 3.7% drop in light vehicle traffic on French motorways, prompting a more prudent near-term outlook for concessions. The group acknowledged being underrepresented in the U.S. data center market but highlighted a EUR900 million data center order intake in the first half and a broad pipeline of several gigawatts, particularly in Europe. Net financial debt increased by around EUR3 billion, reflecting typical seasonality, and the company faces a higher tax charge, including an extended corporate income tax surcharge expected to total over EUR400 million for the full year.

VINCI has signed a share purchase agreement with an investment services provider as part of its share buyback programme. The agreement, valid from 3 August 2026 until 3 September 2026 at the latest, mandates the provider to purchase VINCI shares on its behalf within a limit of €300 million. The purchase price cannot exceed the maximum price set by the VINCI Ordinary and Extraordinary Shareholders' Meeting.

VINCI Energies, a unit of Vinci SA, has launched a voluntary public tender offer to acquire German business applications specialist All for One Group SE. The offer is for all outstanding shares at €67.50 per share in cash, representing a 104.9% premium to the three-month volume-weighted average share price and a 95.5% premium to the July 15 Xetra closing price. The transaction is subject to a minimum acceptance threshold of 75% plus one share, and major shareholders representing 54.7% of All for One's share capital have agreed to tender their shares. All for One's Supervisory Board and Management Board support the offer and intend to recommend shareholder acceptance, subject to reviewing the final offer document. The acquisition would expand VINCI Energies' digital infrastructure services business, particularly in ERP, AI solutions, business applications, cloud, and data analytics, adding a company that generated €500 million in revenue in fiscal 2025, serves more than 4,500 customers, and employs about 3,000 people across Germany, Austria, Switzerland, and Poland.

Vinci subsidiary eliso has secured an eight-year contract worth approximately €100 million from the Federal Republic of Germany to install and operate heavy vehicle charging stations. The deal highlights Vinci's growing role in electric transport infrastructure. Vinci's share price has recently declined, with a 5.95% drop over the past week and a 12.02% decline over 90 days, though its five-year total shareholder return stands at 62.80%. A popular valuation narrative suggests the stock may be around 18.1% overvalued, with a fair value estimate of €101.08 compared to a recent close of €119.35, while its price-to-earnings ratio of 12.9 times sits below peer and sector averages.

VINCI has won a contract from the Federal Republic of Germany to install and operate 25 charging stations for heavy vehicles in the north of the country. The eight-year contract, awarded to VINCI Concessions subsidiary eliso, covers up to 180 charge points on principal transport routes and represents an approximately €100 million investment. The stations will be designed specifically for electric heavy vehicles, with between three and thirty-six charging points per site and power ratings of up to 1 MW. This builds on eliso's earlier mandate under the Deutschlandnetz programme to build and operate 800 fast charge points for electric vehicles across 100 stations in northern, eastern and central Germany.

VINCI SA disclosed its share buyback transactions carried out from June 29 to July 3, 2026. Over the period, the company repurchased a total of 300,425 shares at a daily weighted average price of 126.0659 euros. On July 1, 2026, VINCI bought 98,000 shares at 125.0046 euros on XPAR, 26,000 shares at 124.9148 euros on CEUX, and 1,000 shares at 124.7579 euros on TQEX. The buybacks were executed under the authorization granted by the General Meeting of April 14, 2026, and in compliance with share buyback regulations.

VINCI has won several multi-year road service contracts in Greater London with a total value of nearly €70 million per year. Westminster City Council awarded FM Conway, a subsidiary of VINCI Construction in the UK, an infrastructure service contract covering the design, construction, inspection and maintenance of public road infrastructure, including road surfaces, pedestrian crossings, public lighting, drainage, bridges and structures. That contract runs for an initial eight and a half years, with a possible four-year extension, and is worth £52 million each year, around €60 million. The London borough of Bromley also awarded two contracts to FM Conway for road maintenance services and planned and emergency road works, worth around £7 million each year in total, approximately €8 million, for an initial six years with a possible four-year extension. FM Conway was acquired by VINCI Construction in early 2025 to strengthen its local presence and expertise in road works in the UK, particularly in south-east England.

VINCI Construction has secured a €210 million works contract to build the second building of the New Reims Hospital complex for the Centre Hospitalier Universitaire de Reims. The consortium led by Pargade Architectes will deliver the 58,000-square-metre, seven-floor Madeleine Brès building, which will house 498 beds, high-tech medical platforms, and chronic disease and neuroscience units. Construction is scheduled to last 45 months while the hospital remains fully operational. VINCI Construction’s share of the contract is €157 million, and the project is part of a broader €564 million property development by the CHU de Reims.

VINCI SA disclosed that it repurchased a total of 146,902 of its own shares over five trading days from June 15 to June 19, 2026, at a daily volume-weighted average price of €129.4664. The daily purchases ranged from 19,000 shares at €128.3997 on June 15 to 35,000 shares at €130.2895 on June 18, with all transactions executed on the XPAR market. The buyback was carried out under the authorization granted by the General Meeting of April 14, 2026, and in compliance with share buyback regulations. Detailed transaction information is available on the VINCI website as required by the EU Market Abuse Regulation.