Vinci sales jump helped by recovering traffic and green projects

French infrastructure company Vinci on Tuesday posted a jump in first quarter revenue, boosted by strong traffic across the airports and highways it operates. Revenue in Q1 was E15.0b, up 17% on an actual basis against the 12.8b posted for the same period a year earlier. Europe's biggest construction and concessions company, which operates highways and airports like London Gatwick, has seen travel rebound as pandemic-related travel curbs eased, while it also benefits from investments in renewable energy. The recovery however has been slower in Asia. "The strong recovery in air traffic was confirmed in the first quarter of 2023," the group said in a statement, adding that several airports it operates reached record passenger numbers. Sales in the Concessions business rose 24% in the quarter to E2.2b, largely due to Vinci Airports which grew 89% in the quarter. Excluding Asian airports, passenger numbers reached 96% of pre-pandemic levels, Vinci said. The construction segment's sales were up 13%, but the group flagged some challenges ahead for the unit.<br/>