VINCI acquires a 20% shareholding in the Budapest airport concession company and becomes the platform operator
June 06 2024 - 11:45AM
VINCI acquires a 20% shareholding in the Budapest airport
concession company and becomes the platform operator
Nanterre, 6 June 2024
VINCI acquires a 20% shareholding in the
Budapest airport concession company and becomes the platform
operator
- Agreement signed by VINCI Airports
to acquire a 20% shareholding in the Budapest airport concession
company, making it the airport operator.
- A concession with a residual term
of more than 55 years expiring in 2080.
- With a traffic of 16 million
passengers in 2019, Budapest airport is one of the main airports in
Central Eastern Europe.
- VINCI Airports, which has
operations in Portugal, the United Kingdom, France and Serbia,
consolidates its presence as a leading airport operator in Europe,
handling a total of almost 154 million passengers1.
VINCI Airports, a subsidiary of VINCI
Concessions, and Corvinus, an investment fund fully owned and
managed by the Hungarian State, have jointly signed and closed the
acquisition of the concessionaire of Budapest Liszt Ferenc
International Airport from a consortium of sellers composed of
AviAlliance, Malton and CDPQ.The value of the 100% transaction is
€3.1 billion (equity value), plus net debt of €1.2 billion2. Ebitda
2023 was €211 million. VINCI Airports and Corvinus purchased
Budapest Airport on a pro rata basis and rolled over the existing
debt of the company.
The residual term of the concession is over 55
years (expiring in 2080).
On completion of the transaction, Corvinus will
own 80% of the concessionaire and VINCI Airports 20%.
Capital of Hungary, Budapest is the country's
key entry point for air mobility: its airport handles 96% of the
country's air traffic.
In 2023, traffic reached 90% of its pre-sanitary
crisis level, while in the first four months of 2024 it exceeded
2019 traffic by more than 8% and 2023 traffic by 19%. The airport
also has a positive outlook for the future, particularly in view of
the development of tourism in the country.
As the platform operator, VINCI Airports will
manage the platform and deploy its model, which aims to improve the
customer experience and support traffic growth through appropriate
investment.
An ambitious action plan will also be rolled out
to achieve net zero emissions by 2030.Through this acquisition,
VINCI Airports, which has operations in Portugal, the United
Kingdom, France and Serbia, is reinforcing its network in Europe,
which now covers 26 platforms handling nearly 154 million
passengers in 20231.
1 2023 data applied to 100% of the 2024
perimeter, thus including passengers from Budapest in 2023.2 At the
end of December 2023.
About VINCIVINCI is a global player in
concessions, energy and construction businesses, employing 280,000
people in more than 120 countries. We design, finance, build and
operate infrastructure and facilities that help improve daily life
and mobility for all. Because we believe in all-round performance,
above and beyond economic and financial results, we are committed
to operating in an environmentally and socially responsible manner.
And because our projects are in the public interest, we consider
that reaching out to all our stakeholders and engaging in dialogue
with them is essential in the conduct of our business activities.
VINCI’s ambition is to create long-term value for its customers,
shareholders, employees, partners and society in general.
www.vinci.com
This press release is an official information document of the
VINCI Group.
PRESS CONTACTVINCI Press DepartmentTel: +33 (0)1
57 98 62 88media.relations@vinci.com
- CP VINCI_acquisition Budapest_20240606_VA
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