Investment Ideas (AO) | Vinci replaces Rational in the Green impact selection

Research evidence excerpt

Investment Ideas (AO) | Vinci replaces Rational in the Green impact selection

much involved in electrification

Vinci is a diversified company with a presence in transportation infrastructure (airports and motorways), contracting activities

(electrical engineering, roadbuilding and construction). Since 2021 and the acquisition of Cobra, it has a presence in renewables.

Vinci Energies represents 24% of the EV. VINCI Energies provides engineering, installation and maintenance services across four

main areas: energy infrastructure, industry, buildings and ICT. It integrates and operates the electrical and digital systems that

enable the energy transition and the digitalisation of the economy.

Electrification is at the core of its business. The company develops and modernises electricity transmission and distribution

networks, substations, renewable energy and storage facilities, EV charging infrastructure and transport electrification.

It also helps industrial customers automate and electrify their processes, while improving energy efficiency through electrical

systems, HVAC, smart building solutions and facility management.

Its ICT activities support these trends by providing the digital infrastructure required for smart grids, connected buildings and

industrial automation.

Moreover, it is an independent renewable power producer through Cobra IS and its dedicated subsidiary Zero.e, which as of the

end of 2025 had a renewable asset portfolio of 5 GW of capacity at different stages of development and that we value at 5% of the

group’s EV.

The company also has a strong presence in Railworks (EUR6bn sales and EUR11bn of backlog) and Waterworks (EUR3bn sales

and backlog), and a presence in the construction of low energy-consumption buildings.