France's biggest construction company, Vinci, sees sales up 7. 8 percent

The logo of the company ViCin is pictured at the company headquarters in Rueil-Malmaison near Paris.

Europe's biggest construction and concessions firm posted quarter sales up 7.8% year-on-year to 13.24 billion euros $15.39 billion in line with analysts' forecasts and exceeding the 13.13 billion euros it generated in 2019.

Vinci has benefited from several large construction works and a rise in motorway traffic as COVID -19 travel curbs eased across Europe, but labour shortages and high raw material costs have forced it to consider delay some projects.

However, Vinci's finance chief said that though some projects could be pushed from 2022 in agreement with customers, this would not impact the firm's net profits.

Interested customers are big enough and there was one to say it was in a call, speaking about the Group's core construction business. How to improve profit margin.? Despite the introduction of a European Union-wide COVID vaccine certificate, business at Vinci's smaller airports arm remained sluggish, with passengers almost 60% below 2019 levels.

This lowered revenues from Gatwick Airport Division, which includes London's Vinci airport, almost 55% from 2019 down to 0.25 percent.

The group confirmed its pre-pandemic guidance that 2021 earnings would not recover to previous levels, but they should increase sharply compared with 2020.

It said its energy infrastructure and construction business would see full-year growth compared to 2019, while revenues in its motorway division should reach pre-pandemic levels.

The company has not given specific financial forecasts.