Vinci: withdraws growth target for 2020

(CercleFinance.com) - While at this stage, Vinci acknowledges that the uncertainty surrounding the health crisis means that it is unable to quantify the financial impact that this will have on its accounts, the group nevertheless warns that "It appears that VINCI will be unable to meet its target, announced in February, of achieving revenue and earnings growth in 2020.
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Overall, it expects to see a significant fall in sales - albeit limited over time. At its different businesses it is implementing measures to adjust spending and review the phasing of investments.

Vinci boasts available cash of 6.5 billion euros at end-February, to which is added a confirmed credit facility of eight billion euros that is not due to expire until November 2024. This is currently unused and is not subject to any financial covenant.


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