Half Year 2024 Vinci SA Analsyt Meeting Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eric LemariT - CIC Market Solutions - Analyst : I got three. The first question, unless you have comments to make on the political risk in France considering the current political uncertainty and possible impact on your business. If you have further comments to make on the transport tax, that's the first question. Second question on EBIT. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 26, 2024 / 8:00AM, SGEF.PA - Half Year 2024 Vinci SA Analsyt Meeting The holding line item that's positive this year H1, it was negative in H1 2023. If you could give us some color on that. Thirdly, have you made progress to dispose Polo Carm=polis that you acquired when you acquired Cobra last year? Xavier Huillard - Vinci SA - Chairman of the Board and Chief Executive Officer, Chairman of the Executive Committee and Chairman of the Management and Coordination Committee Thanks, Eric, for those please. It is not one question. It's systematically three questions that are asked. Regarding the political uncertainties, what we can say is that we're in businesses that benefit from a very long lag effect. It's obviously the case for concessions, but also engineering and works because of the scale of our order book. So if there are macroeconomic consequences stemming from, say, current political uncertainties, well, we could end up by feeling the effects of those, but that would be with the lag effect of several months, if not several years. So no visible impact today, so we're unable to give you any answer on that. The other notable point is in countries such as France. The countries such as France, the bulk of our business for the public as well as for local municipalities, and so these local authorities, municipalities. And the second part of the electoral cycle that is rather in the phase where the various political leaders in the municipalities are beginning to resume works ahead of the next electoral process, which is generally favorable. We can't say much on it, but I'll ask my colleagues to chip in if they wish to say anything about that. On the holding line, the ROPA, I've no idea the EBIT. Christian is bound to know.

Question: Graham Hunt - Jefferies - Analyst : I've just got two questions left. First, staying with M&A, I just wanted to discuss the North America portfolio where you've done a few deals. Are you now happy with your footprint there? Or would you like to increase your scale in the US and North America further? And then second question, just on Gatwick. I think the UK government has made some positive comments around airport expansion in general. Could you just remind us where we are in terms of the expansion plan there? And if you've had any conversations with the UK government regarding Gatwick recently? Xavier Huillard - Vinci SA - Chairman of the Board and Chief Executive Officer, Chairman of the Executive Committee and Chairman of the Management and Coordination Committee Nicolas is going to answer about Gatwick.