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VINCI
Earnings Release • Oct 15, 2025
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Earnings Release
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PRESS RELEASE
Nanterre, October 15, 2025
VINCI Airports – Traffic as of September 30, 2025
- Traffic up 4.2% in Q3 2025 compared to Q3 2024; +3.6% in September 2025 compared to September 2024
- High level of traffic in August on most European platforms
- Very good traffic dynamics in Japan, Mexico, Brazil and Cabo Verde
In the paragraphs below, and unless otherwise stated, the variations refer to traffic levels for the 3rd quarter of 2025 compared to the 3rd quarter of 2024.
VINCI Airports recorded strong traffic growth in the third quarter, welcoming 94 million passengers, up 4.2% year-on-year, or 3.8 million additional travelers. Summer 2025 was characterized by good traffic performance at most airports. High load factors and an increasing airline seat supply fueled this expansion. Some hubs performed particularly well: resort destinations around the Mediterranean in Europe and routes between China and Japan.
In Portugal, the summer season was marked by solid traffic growth in Lisbon, and even more so in Porto, Faro and Funchal (+7% on average across these four airports). In Lisbon, European connections (Germany and Italy in particular) served by low-cost airlines and long-haul traffic with the United States and Brazil were the main drivers. Porto and Faro airports continue to attract many passengers from the United Kingdom and Germany. In France, Nantes and Lyon airports recorded good traffic in August. In Nantes, French, Spanish and Italian tourist destinations were very popular (increased service from easyJet and Air France Group airlines). In Lyon, French and North African destinations performed well. In the two latest acquisitions of the VINCI Airports network, in Edinburgh and Budapest, traffic growth was remarkable, driven by destinations in Western Europe and the Mediterranean region. In Belgrade , traffic grew by double digits on routes to Greece, Italy, Germany and Spain. Cabo Verde airports continue to grow at a strong pace, thanks to the strengthening of services from TACV, TAP and Transavia, and new flights from easyJet.
Belfast International and London Gatwick airports have been hit by a decline in the number of seats on sale. This is mainly due to the reorganization of flights by some low-cost airlines in favor of longer segments to tourist destinations and to the detriment of domestic flights within the United Kingdom (which penalizes the number of rotations, and therefore the number of seats on sale).
Strong summer demand in Japan, illustrated by the increase in load factors despite an increased seat supply, was boosted by the Universal Exhibition held in Osaka. Connections with China were very busy (+51% compared to 2024; +24% compared to 2019), thanks to the significant increase in flights offered by Chinese airlines. Regional markets (South Korea; Taiwan) as well as domestic routes continue to perform well. In Cambodia, where VINCI Airports is the concessionaire of Sihanoukville airport and, since September 9, has been operating the new Techo International airport in Phnom Penh through an operating contract, the recovery of traffic continues, driven by regional connections including China.
In Mexico, traffic growth was spectacular at Monterrey (+15%), where Volaris' capacity more than doubled; the company had suffered the grounding of some aircraft for engine maintenance last year. Traffic growth at Mexican airports is driven in particular by connections with the United States. In Brazil, the Salvador de Bahia airport benefited from good domestic GOL Airlines momentum and long-haul traffic driven by Air Europa and Air France. In Amazonia, double-digit traffic growth was enabled by increased capacity from both Brazilian and international airlines. In the Dominican Republic, traffic at Santo Domingo is penalized by the
repositioning of Arajet aircraft to other airports, penalizing regional services. Traffic with the United States remains dynamic.
About VINCI Airports
VINCI Airports, as the leading private airport operator in the world, manages the development and operation of more than 70 airports located in 14 countries. VINCI Airports draws on its expertise as a comprehensive integrator to develop, finance, build and operate airports, leveraging its investment capability and know-how to optimise operational performance and modernise infrastructure while bringing about their environmental transition. In 2016, VINCI Airports became the first airport operator to commit to an international environmental strategy, setting itself the aim of reaching zero net emissions (scope 1 and 2) across the network by 2050 while supporting the territories' local climate transition. For more information:
https://www.linkedin.com/company/vinci-airports/
About VINCI
VINCI is a global player in concessions, energy solutions and construction, employing 285,000 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, we are committed to operating in an environmentally, socially responsible and ethical 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. Based on that approach, VINCI's ambition is to create long-term value for its customers, shareholders, employees, partners and society in general. www.vinci.com
Appendix – Passenger traffic and commercial movements on 30 September 2025
I- Trends in passenger traffic at VINCI Airports1
| September 2025 |
Q3 2025 | YTD at the end of September 2025 |
|---|---|---|
| % Change | % Change | % Change |
| 2025 / 2024 | 2025 / 2024 | 2025 / 2024 |
| VINCI Airports | +3.6% | +4.2% | +5.6% |
|---|---|---|---|
| Portugal (ANA) | +3.5% | +4.6% | +4.7% |
| United Kingdom | -0.6% | +0.2% | +1.2% |
| France | -2.7% | +0.9% | +3.0% |
| Serbia | +5.4% | +6.5% | +5.8% |
| Hungary | +8.4% | +7.2% | +12% |
| Mexico (OMA) | +9.1% | +8.1% | +9.6% |
| United States of America | +3.0% | -6.9% | -3.9% |
| Dominican Republic (Aerodom) | -9.4% | -7.5% | -11% |
| Costa Rica | -3.8% | +2.0% | +1.9% |
| Chile (Nuevo Pudahuel) | -2.8% | -0.5% | +3.0% |
| Brazil | +10% | +9.2% | +9.6% |
| Japan (Kansai Airports) | +10% | +11% | +12% |
| Cambodia (Cambodia Airports) | +14% | +10% | +16% |
| Cabo Verde | +7.6% | +12% | +16% |
1 Data at 100%, irrespective of percentage held, including airport passenger numbers over the full period.
II- Trends in commercial movements (ATM) at VINCI Airports2
| September 2025 |
Q3 2025 | YTD at the end of September 2025 |
|---|---|---|
| % Change | % Change | % Change |
| 2025 / 2024 | 2025 / 2024 | 2025 / 2024 |
| VINCI Airports | +3.4% | +4.1% | +5.7% |
|---|---|---|---|
| Portugal (ANA) | +3.3% | +3.6% | +3.7% |
| United Kingdom | 0.0% | +1.4% | +2.1% |
| France | -0.3% | +1.8% | +2.3% |
| Serbia | +2.2% | +4.8% | +4.3% |
| Hungary | +5.1% | +5.5% | +10% |
| Mexico (OMA) | +13% | +9.2% | +9.9% |
| United States of America | +10% | +7.4% | +21% |
| Dominican Republic (Aerodom) | -5.3% | -5.3% | -12% |
| Costa Rica | +4.6% | +8.2% | +3.4% |
| Chile (Nuevo Pudahuel) | -2.0% | -1.7% | +0.5% |
| Brazil | +3.4% | +2.9% | +5.0% |
| Japan (Kansai Airports) | +3.6% | +6.8% | +7.7% |
| Cambodia (Cambodia Airports) | +17% | +14% | +16% |
| Cabo Verde | -3.9% | +11% | +18% |
2 Data at 100%, irrespective of percentage held, including commercial movements over the full period.
III- Passenger traffic by airport
| In thousands of passengers | VINCI Airports share (%) |
Q3 2025 | % change 2025 / 2024 |
YTD at the end of September (9 months) |
% change 2025 / 2024 |
|
|---|---|---|---|---|---|---|
| Portugal (ANA) of which | ||||||
| Lisbon (LIS) | 100 | 10,231 | +2.4% | 27,458 | +2.8% | |
| Porto (OPO) | 100 | 5,070 | +6.3% | 12,968 | +5.8% | |
| Faro (FAO) | 100 | 3,852 | +5.0% | 8,472 | +6.1% | |
| Madeira (FNC. PXO) | 100 | 1,670 | +16% | 4,357 | +13% | |
| Azores (FLW, HOR, SMA, PDL) | 100 | 1,235 | +1.5% | 2,734 | +3.1% | |
| TOTAL | 22,062 | +4.6% | 55,991 | +4.7% | ||
| United Kingdom of which | ||||||
| Gatwick (LGW) | 50.01 | 13,244 | -2.3% | 33,240 | -0.7% | |
| Edinburgh (EDI) | 50.01 | 5,183 | +8.5% | 12,953 | +7.3% | |
| Belfast (BFS) | 100 | 1,986 | -2.4% | 5,143 | -1.0% | |
| TOTAL | 20,413 | +0.2% | 51,337 | +1.2% | ||
| France of which | ||||||
| Lyon-Saint Exupéry (LYS) & Lyon-Bron (LYN) | 30.6 | 2,934 | +1.0% | 8,191 | +2.9% | |
| Nantes Atlantique (NTE) | 85 | 2,154 | +0.9% | 5,591 | +3.6% | |
| Rennes Bretagne (RNS) | 49 | 130 | -1.1% | 380 | +1.4% | |
| Grenoble Alpes Isère (GNB) | 100 | 1 | +54% | 220 | +7.8% | |
| Chambéry Savoie Mont Blanc (CMF) | 100 | 1 | +51% | 165 | +4.5% | |
| Toulon Hyères (TLN) | 100 | 93 | -12% | 202 | -18% | |
| Clermont Ferrand Auvergne (CFE) | 100 | 65 | +20% | 195 | +15% | |
| Annecy (NCY) | 100 | 1 | -17% | 3 | -19% | |
| TOTAL | 5,379 | +0.9% | 14,956 | +3.0% | ||
| Serbia | ||||||
| Belgrade (BEG) | 100 | 2,882 | +6.5% | 6,799 | +5.8% | |
| TOTAL | 2,882 | +6.5% | 6,799 | +5.8% | ||
| Hungary | ||||||
| Budapest (BUD) | 20 | 5,535 | +7.2% | 14,583 | +12% | |
| TOTAL | 5,535 | +7.2% | 14,583 | +12% |
| In thousands of passengers | VINCI Airports share (%) |
Q3 2025 | % change 2025 / 2024 |
YTD at the end of September (9 months) |
% change 2025 / 2024 |
|
|---|---|---|---|---|---|---|
| Mexico (OMA) of which | ||||||
| Monterrey (MTY) | 29.99 | 4,265 | +15% | 11,610 | +18% | |
| Chihuahua (CUU) | 29.99 | 529 | +8.4% | 1,427 | +4.0% | |
| Ciudad Juarez (CJS) | 29.99 | 566 | +1.5% | 1,587 | +0.3% | |
| Culiacan (CUL) | 29.99 | 561 | -6.2% | 1,662 | -1.1% | |
| Mazatlan (MZT) | 29.99 | 406 | -9.9% | 1,318 | -7.0% | |
| Acapulco (ACA) | 29.99 | 163 | -0.1% | 499 | +12% | |
| San Luis Potosi (SLP) | 29.99 | 232 | +22% | 599 | +11% | |
| Torreon (TRC) | 29.99 | 226 | -0.1% | 626 | +2.8% | |
| Zihuatanejo (ZIH) | 29.99 | 157 | +18% | 540 | +7.4% | |
| Durango (DGO) | 29.99 | 145 | +1.7% | 403 | +3.5% | |
| Zacatecas (ZCL) | 29.99 | 118 | +23% | 307 | +8.8% | |
| Tampico (TAM) | 29.99 | 159 | +4.9% | 444 | +8.0% | |
| Reynosa (REX) | 29.99 | 115 | -21% | 322 | -18% | |
| TOTAL | 7,640 | +8.1% | 21,342 | +9.6% | ||
| United States of America (of which) | ||||||
| Hollywood Burbank (BUR) | MC³ | 1,625 | -6.6% | 4,694 | -1.3% | |
| Atlantic City (ACY) | MC³ | 252 | -8.9% | 662 | -19% | |
| TOTAL | 1,877 | -6.9% | 5,356 | -3.9% | ||
| Dominican Republic (Aerodom) of which | ||||||
| Saint-Domingue (SDQ) | 100 | 1,460 | -6.8% | 3,967 | -11% | |
| Puerto Plata (POP) | 100 | 131 | -11% | 628 | -8.7% | |
| Samana (AZS) | 100 | 16 | -29% | 71 | -12% | |
| La Isabela (JBQ) | 100 | 11 | -8.4% | 31 | -26% | |
| TOTAL | 1,618 | -7.5% | 4,696 | -11% | ||
| Costa Rica | ||||||
| Guanacaste (LIR) | 45 | 352 | +2.0% | 1,543 | +1.9% | |
| TOTAL | 352 | +2.0% | 1,543 | +1.9% | ||
| Chile (Nuevo Pudahuel) | ||||||
| Santiago (SCL) | 40 | 6,514 | -0.5% | 19,918 | +3.0% | |
| TOTAL | 6,514 | -0.5% | 19,918 | +3.0% |
| In thousands of passengers | VINCI Airports share (%) |
Q3 2025 | % change 2025 / 2024 |
YTD at the end of September (9 months) |
% change 2025 / 2024 |
|---|---|---|---|---|---|
| Brazil of which | |||||
| Salvador (SSA) | 100 | 2,058 | +5.6% | 5,888 | +4.6% |
| Manaus (MAO) | 100 | 908 | +19% | 2,496 | +17% |
| Porto Velho (PVH) | 100 | 164 | +41% | 491 | +45% |
| Boa Vista (BVB) | 100 | 98 | -21% | 314 | -2.3% |
| Rio Branco (RBR) | 100 | 124 | +16% | 395 | +31% |
| TOTAL | 3,390 | +9.2% | 9,696 | +9.6% | |
| Japan (Kansai Airports) of which | |||||
| Kansai (KIX) | 40 | 8,705 | +11% | 25,495 | +14% |
| Itami (ITM) | 40 | 4,360 | +9.3% | 12,014 | +8.7% |
| Kobe (UKB) | 40 | 1,121 | +17% | 2,996 | +12% |
| TOTAL | 14,185 | +11% | 40,505 | +12% | |
| Cambodia (Cambodia Airports) of which |
|||||
| Phnom Penh (PNH) | 70 | 970 | -17% | 3,664 | +6.1% |
| Techo (KTI)4 | MC³ | 309 | 309 | ||
| Sihanoukville (KOS) | 70 | 40 | +79% | 107 | +86% |
| TOTAL | 1,318 | +10% | 4,080 | +16% | |
| Cabo Verde | |||||
| Praia (RAI) | 100 | 204 | +2.6% | 556 | +11% |
| Sal (SID) | 100 | 397 | +21% | 1,158 | +21% |
| São Vicente (VXE) | 100 | 85 | +7.2% | 257 | +18% |
| Boa Vista (BVC) | 100 | 170 | +9.9% | 487 | +6.6% |
| TOTAL | 884 | +12% | 2,544 | +16% | |
| Total VINCI Airports | 94,048 | +4.2% | 253,346 | +5.6% |
³ MC: Management Contract
4 VINCI Airports has been operating the new Techo International Airport in Phnom Penh since September 9 under an operating contract
IV- Commercial movements by airport
| Commercial flights | VINCI Airports share (%) |
Q3 2025 | % change 2025 / 2024 |
YTD at the end of September (9 months) |
% change 2025 / 2024 |
|
|---|---|---|---|---|---|---|
| Portugal (ANA) of which | ||||||
| Lisbon (LIS) | 100 | 61,762 | +0.5% | 171,691 | +0.8% | |
| Porto (OPO) | 100 | 32,100 | +5.7% | 83,602 | +4.9% | |
| Faro (FAO) | 100 | 24,293 | +6.3% | 54,503 | +7.0% | |
| Madeira (FNC. PXO) | 100 | 11,183 | +17% | 29,635 | +14% | |
| Azores (FLW, HOR, SMA, PDL) | 100 | 13,466 | -0.7% | 30,582 | +1.7% | |
| TOTAL | 143,066 | +3.6% | 370,426 | +3.7% | ||
| United Kingdom of which | ||||||
| Gatwick (LGW) | 50.01 | 76,821 | -1.5% | 200,152 | -0.3% | |
| Edinburgh (EDI) | 50.01 | 36,415 | +5.4% | 95,106 | +3.7% | |
| Belfast (BFS) | 100 | 16,210 | +7.1% | 44,664 | +10% | |
| TOTAL | 129,446 | +1.4% | 339,922 | +2.1% | ||
| France of which Lyon-Saint Exupéry (LYS) & Lyon-Bron (LYN) |
30.6 | 26,023 | +1.3% | 75,619 | +1.9% | |
| Nantes Atlantique (NTE) | 85 | 15,046 | +1.1% | 39,807 | +3.1% | |
| Rennes Bretagne (RNS) | 49 | 2,096 | +9.7% | 6,099 | +6.9% | |
| Grenoble Alpes Isère (GNB) | 100 | 262 | +34% | 3,307 | +6.7% | |
| Chambéry Savoie Mont Blanc (CMF) | 100 | 258 | +15% | 5,352 | +13% | |
| Toulon Hyères (TLN) | 100 | 3,954 | +1.5% | 7,507 | -1.3% | |
| Clermont Ferrand Auvergne (CFE) | 100 | 1,110 | -3.4% | 3,452 | -9.4% | |
| Annecy (NCY) | 100 | 385 | +18% | 1,755 | -2.0% | |
| TOTAL | 49,837 | +1.8% | 144,842 | +2.3% | ||
| Serbia | ||||||
| Belgrade (BEG) | 100 | 27,202 | +4.8% | 68,366 | +4.3% | |
| TOTAL | 27,202 | +4.8% | 68,366 | +4.3% | ||
| Hungary | ||||||
| Budapest (BUD) | 20 | 37,648 | +5.5% | 102,553 | +10% | |
| TOTAL | 37,648 | +5.5% | 102,553 | +10% |
| Commercial flights | VINCI Airports share (%) |
Q3 2025 | % change 2025 / 2024 |
YTD at the end of September (9 months) |
% change 2025 / 2024 |
|---|---|---|---|---|---|
| Mexico (OMA) of which | |||||
| Monterrey (MTY) | 29.99 | 33,107 | +19% | 94,708 | +22% |
| Chihuahua (CUU) | 29.99 | 5,746 | +1.9% | 15,862 | -3.5% |
| Ciudad Juarez (CJS) | 29.99 | 4,755 | +7.0% | 14,030 | +4.5% |
| Culiacan (CUL) | 29.99 | 4,930 | -1.1% | 14,786 | +3.8% |
| Mazatlan (MZT) | 29.99 | 3,628 | -4.4% | 11,815 | -0.2% |
| Acapulco (ACA) | 29.99 | 1,719 | -1.7% | 5,693 | +13% |
| San Luis Potosi (SLP) | 29.99 | 4,118 | +19% | 12,170 | +18% |
| Torreon (TRC) | 29.99 | 2,715 | +7.7% | 8,193 | +9.1% |
| Zihuatanejo (ZIH) | 29.99 | 1,468 | +1.9% | 5,353 | -4.2% |
| Durango (DGO) | 29.99 | 2,292 | -7.3% | 6,938 | -5.6% |
| Zacatecas (ZCL) | 29.99 | 1,202 | +21% | 3,220 | +6.5% |
| Tampico (TAM) | 29.99 | 1,946 | -7.0% | 5,694 | -19% |
| Reynosa (REX) | 29.99 | 828 | -33% | 2,758 | -22% |
| TOTAL | 68,454 | +9.2% | 201,220 | +9.9% | |
| United States of America (of which) |
|||||
| Hollywood Burbank (BUR) | MC⁴ | 38,052 | +7.3% | 118,585 | +24% |
| Atlantic City (ACY) | MC⁴ | 3,023 | +8.4% | 7,534 | -6.9% |
| TOTAL | 41,075 | +7.4% | 126,119 | +21% | |
| Dominican Republic (Aerodom) of which |
|||||
| Saint-Domingue (SDQ) | 100 | 11,780 | -4.0% | 33,047 | -11% |
| Puerto Plata (POP) | 100 | 940 | -8.4% | 4,163 | -12% |
| Samana (AZS) | 100 | 88 | -42% | 532 | -20% |
| La Isabela (JBQ) | 100 | 935 | -13% | 3,048 | -23% |
| TOTAL | 13,747 | -5.3% | 40,796 | -12% | |
| Costa Rica | |||||
| Guanacaste (LIR) | 45 | 4,298 | +8.2% | 16,934 | +3.4% |
| TOTAL | 4,298 | +8.2% | 16,934 | +3.4% | |
| Chile (Nuevo Pudahuel) | |||||
| Santiago (SCL) | 40 | 38,953 | -1.7% | 118,315 | +0.5% |
| TOTAL | 38,953 | -1.7% | 118,315 | +0.5% |
| Commercial flights | VINCI Airports share (%) |
Q3 2025 | % change 2025 / 2024 |
YTD at the end of September (9 months) |
% change 2025 / 2024 |
|---|---|---|---|---|---|
| Brazil of which | |||||
| Salvador (SSA) | 100 | 14,581 | +0.7% | 42,536 | +2.3% |
| Manaus (MAO) | 100 | 8,138 | +7.2% | 23,460 | +6.8% |
| Porto Velho (PVH) | 100 | 1,090 | +42% | 3,553 | +39% |
| Boa Vista (BVB) | 100 | 593 | -38% | 2,003 | -17% |
| Rio Branco (RBR) | 100 | 848 | +20% | 2,793 | 21% |
| TOTAL | 25,793 | +2.9% | 75,938 | +5.0% | |
| Japan (Kansai Airports) of which | |||||
| Kansai (KIX) | 40 | 54,823 | +9.4% | 159,681 | +12% |
| Itami (ITM) | 40 | 35,579 | +1.2% | 103,668 | +1.1% |
| Kobe (UKB) | 40 | 9,461 | +15% | 27,005 | +9.0% |
| TOTAL | 99,863 | +6.8% | 290,354 | +7.7% | |
| Cambodia (Cambodia Airports) of which | |||||
| Phnom Penh (PNH) | 70 | 8,627 | -16% | 32,059 | +6.3% |
| Techo (KTI)5 | MC6 | 2,934 | 2,934 | ||
| Sihanoukville (KOS) | 70 | 682 | +51% | 1,843 | +23% |
| TOTAL | 12,243 | +14% | 36,836 | +16% | |
| Cabo Verde | |||||
| Praia (RAI) | 100 | 2,369 | -4.4% | 6,884 | +8.1% |
| Sal (SID) | 100 | 3,719 | +29% | 10,979 | +26% |
| São Vicente (VXE) | 100 | 1,060 | +6.2% | 3,216 | +20% |
| Boa Vista (BVC) | 100 | 1,282 | +9.3% | 3,778 | +7.8% |
| TOTAL | 8,921 | +11% | 26,397 | +18% | |
| Total VINCI Airports | 700,546 | +4.1% | 1,959,018 | +5.7% |
5 VINCI Airports has been operating the new Techo International Airport in Phnom Penh since September 9 under an operating contract
6MC: Management Contract