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Vinci SA Announces Consolidated Net Income Target for FY 2012 Updated to Reflect Tax Measures Adopted in France

Friday, 4 Jan 2013 12:50pm EST 

Vinci SA announced that when it published its quarterly information on September 30, 2012, it announced its net income outlook for fiscal year 2012 as follows: “In terms of operating and net incomes, despite the margin pressure being felt in some sectors and countries, Vinci SA was targeting levels close to those reached in 2011 before taking into account the new tax and social charges being considered in France. Ongoing discussions surrounding the proposed 2013 French Finance Law (le Projet de Loi de Finances 2013) imply that these new charges could negatively impact VINCI’s 2012 net income, which could be down by 3% to 4% compared to its 2011 level.” The 2013 French Finance Law was enacted on December 29, 2012, removing the uncertainties regarding the tax charges applying to fiscal year 2012. Consequently, Vinci SA is updating its consolidated net income target for fiscal year 2012, which is expected to come in at a level close to that reached in fiscal year 2011. In fiscal year 2011, the Company reported net income of EUR 1.904 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2012 net income of EUR 1.870 billion.