On Tuesday, Vinci outlined the strategy of its Spanish energy subsidiary Cobra IS, whose integration into the group it considers a "remarkable success" just under two years after its completion.

At an investor day held today in Madrid, the French construction and concessions giant highlighted the entity's "excellent positioning" in markets driven by environmental and digital transitions.

Cobra IS expects sales of over 7.5 billion euros by 2025, representing average annual growth of around 11% since 2022.

The division also expects to generate an operating margin of at least 7.5% over the next two financial years, which should position it among the top players in the industry.

Cobra IS also declares that it plans to develop an average of 1.5 GW of additional capacity per year, representing - at current market conditions - an annual investment of around one billion euros.

The subsidiary thus intends to have a portfolio, in operation or under construction, of a total capacity of around 5 GW by 2025, compared with two GW by the end of 2023, 90% of which will be photovoltaic power plants and 10% wind farms.

Vinci acquired Cobra IS at the end of 2021, as part of its takeover of the energy activities of Spanish construction group ACS.

Vinci shares, listed on the Paris Bourse, were little changed (-0.3%) on Tuesday morning following these announcements.

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