Vinci SA Q1 2026 revenue €16.3bn, down 0.3% YoY, missing consensus €16.6bn by about 2%.
Construction revenue fell 5.3% due to project phasing, adverse weather (~6% impact) and currency, while Energy Solutions rose 4.1% to €5bn.
Order intake rose 5% to €17.4bn, record order book €74.9bn up 4% YoY; full‑year guidance unchanged with €6bn free cash flow target.
Net debt fell to €19.8bn from €21.3bn; analysts adjusted price targets (Morgan Stanley €145, JP Morgan €139, Jefferies €145) with mixed ratings.