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Last updated : 27/04/2026 - 13h45
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VINCI Wins €230 Million Contract for Nuclear Fusion in the UK

VINCI Construction, through its ILIOS consortium led by Nuvia, has secured the design and construction contract for the infrastructure of the STEP Fusion program in Nottinghamshire, UK. This project is managed by UK Fusion Energy, an industrial partnership funded by the British government.


VINCI Wins €230 Million Contract for Nuclear Fusion in the UK

Project Overview

UK Fusion Energy has selected the ILIOS consortium, led by Nuvia (a subsidiary of VINCI Construction specializing in nuclear projects and services), for the design and construction of the infrastructure of the STEP Fusion program in Nottinghamshire, UK. UK Fusion Energy is an industrial partnership funded by the British government, aimed at developing a prototype power plant by 2040 capable of generating electricity from fusion energy.

Contract Details

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The contract spans 4.5 years and is valued at 200 million pounds (approximately 230 million euros, with 50% going to Nuvia). It covers Phase 1 of the project, which includes the design and construction of all buildings, infrastructure, and facilities on the site.

Consortium Composition

The ILIOS consortium consists of Nuvia, Kier, AECOM, AL_A, and Turner & Townsend. STEP stands for Spherical Tokamak for Energy Production.



Sector Immobilier / construction · Infrastructures · Concession · Opérateurs immobiliers · Construction Construction


Assurance vie

Context

Period
  • Period: 2025
Key reported figures
  • Revenue: 74 599 millions d'euros
  • Quarterly revenue: 20 346 millions d'euros
  • Revenue growth: 4,2 %
  • EBITDA: 13 507 millions d'euros
  • EBITDA margin: 18,1 %
  • Net income: 4 903 millions d'euros
  • Free cash flow: 7 010 millions d'euros
  • Net debt: -19 075 millions d'euros
  • Dividend per share: 5,00 euros
  • Payout ratio: 58,0 %
Guidance from the release
  • 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.

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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