To what extent is the current global context and inflation weighing and will they weigh on the activity and results of the Vinci group? This question, the shareholders of the group gathered in general meeting on April 12, 2022 were able to ask it directly to the CEO in whom they renewed their confidence, Xavier Huillard, who answered it directly.
Vigilance, rigor and agility thus seem to be the watchwords of the group’s boss in this area. But the consequences are not the same depending on the type of business and activities, he said.
Change of gear for medium and long term projects
He thus recognizes that medium and long-term projects can pose difficulties. Often, “there is no sufficiently refined price revision formula to reproduce the increase in the prices of supplies and subcontractors”, he observes.
To preserve itself, the group has therefore taken a radical decision very recently: “We no longer agree to sign contracts for the average time – a few years – if they do not include a price revision formula”. It was however the case “for a large part of our jobs until now, but we now exercise this rigor in a systematic way”, he explains. A solution that will not solve all the problems and “does not mean that we will emerge unscathed from this inflation”.
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