FM Conway acquisition to boost VINCI turnover

On Monday, VINCI completed the acquisition of FM Conway, with CEO Joanne Conway announcing she would step away from the company.

VINCI posted increased turnover and profit in its latest annual results for 2024, with a 4.0 per cent boost in revenue to £59.7 billion (€71.6 billion) compared to £57.4 billion (€68.8 billion) in 2023.

Meanwhile, it generated operating income of £7.5 billion (€9 billion), up 7.7 per cent from £6.97 billion (€8.36 billion).

In terms of its revenue outside France, where the firm is based, 58 per cent of all business accounts for total revenue (€41.4 billion), up 5.6 per cent.

VINCI Construction saw solid growth, based in part on the acquisition of FM Conway, which generates annual revenue of almost £583 million (€700 million). The group expects its total revenue and earnings to rise again in 2025.

FM Conway is a leading player in the public works market, with expertise in roadworks, civil engineering, and the production of asphalt mixes and binders.

The firm and its businesses will join the VINCI Construction network, strengthening the French construction giant’s position in the UK market. 

Last April, VINCI’s building arm, was appointed as delivery partner for the UK’s largest open-die forging construction contract, valued at £138 million.

VINCI Construction’s UK division generated revenue of £2.2 billion, last year, with a 6,700-strong workforce.

Xavier Huillard, VINCI’s chairman and CEO said: “VINCI achieved a very high level of performance in 2024.

“ At the end of the year, VINCI Construction announced an agreement to acquire FM Conway, a leading player in public works in England, with the deal closed in late January 2025.”

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