VINCI Construction to Acquire Fletcher Construction in New Zealand
VINCI Construction has signed an agreement to acquire Fletcher Construction, a subsidiary of the New Zealand-based Fletcher Building, according to a statement released this Tuesday. The transaction, subject to regulatory approvals, is expected to be finalized in the course of 2026.
According to the group, this operation will allow VINCI Construction to consolidate its position in the New Zealand infrastructure market. Established in 1909, Fletcher Construction employs 2,300 people in the country and generates an annual turnover of approximately 630 million euros, equivalent to 1.3 billion New Zealand dollars. The company has expertise in hydraulic, maritime, port, airport, rail, and road works, as well as a growing activity in renewable energies.
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VINCI states that this acquisition will enable the French group to become a major player in the New Zealand infrastructure market, alongside HEB Construction, which is already present in the country. The amount of the transaction has not been disclosed in the official document. The operation remains subject to the approval of the relevant authorities, the group specifies.
Projected Closing in 2026
The closing of the transaction is scheduled for the course of 2026, pending the necessary regulatory approvals. This acquisition is part of VINCI Construction's international development strategy, which employs a total of 285,000 staff in more than 120 countries, according to information provided by the group.
VINCI a réalisé en 2025 une performance en hausse. La progression du chiffre d’affaires s’est accompagnée d’une nouvelle amélioration des résultats opérationnels.
Chiffre d’affaires 2025 de 74,6 milliards d’euros; EBITDA 13,5 milliards; résultat net part du Groupe 4,9 milliards; cash-flow libre 7,0 milliards; endettement net en baisse; dividende proposé 5,00 euros par action; perspectives 2026 positives.
Outlook / guidance
Expected revenue: Le chiffre d’affaires en 2026 est attendu en hausse par rapport à 2025, avec des progressions dans les concessions, les services à l’énergie et la construction, et un cash-flow libre estimé autour de 6 milliards d’euros en première approche, sous réserve d’un niveau d’activité et d’un cadre fiscal inchangé.
Expected EBITDA: La direction prévoit une nouvelle progression en 2026, sans chiffre précis communiqué.
Expected net income: La direction anticipe une progression du résultat net part du Groupe en 2026, sous réserve d’un exercice stabilisé.
Management commentary: La direction affirme sa discipline financière et son positionnement sur les trois métiers, avec un accent sur la génération de cash-flow et la création de valeur.
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