Vinci

FR0000125486

DG

DG

Low performers, shitcoin collectors, uphill brakers and poolside swimmers!

Now it's time for a little #beerchallenge with me🍻

If you don't want to read it now: I spent two weeks with my boss and the camper including mountain equipment and gravel in the Schweiz🇨🇭 and in Südfrankreich🇫🇷

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🇨🇭🇨🇭 SWITZERLAND 🇨🇭🇨🇭

We first headed towards Kandersteg via Freiburg to take a look at Lake Oeschinen. I have to say, it's a beautiful lake with a great panorama!

We then continued towards Lake Geneva to Vevey to dip our big toe in the pond and (unintentionally) take a look at the $NESN (-0,89 %) the headquarters.

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🇫🇷 🇫🇷 FRANCE 🇫🇷 🇫🇷

First of all: rejoice you $DG (-0,14 %) shareholders, you got €65 toll from me.

We went to the Verdon Gorge via Grenoble. A bit up and down in just under 3.5 hours.

The next stop was the small coastal town of Hyeres on the Côté d'Azur for a swim and a tan.

Of course, we shopped at $CA (+0,8 %) and refueled at $TTE (+1,13 %) refueling.

Via St. Tropez, Cannes and Monaco, we then headed back home via Lake Maggiore.

After a total of almost 2200km, we had a moderately tasty meal at the lake Dosenbier❤️

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The end of the story:

We were on the road for a total of three weeks, drove 2700km and paid around €200 in tolls.

The vacation was good to get away from the hassle of saving money and enjoy life 🫶🏽

Greetings and kisses,

alpaca

Two new positions with first tranches opened this week in $ULTA (-1,04 %) and $DG (-0,14 %)

Why ULTA? Cosmetics and hygiene products are always bought, Ulta has absolute supremacy in North America and very loyal customers. Sephora is catching up, but is still behind Ulta. I also think the business is currently valued very favorably.

Why Vinci? I want to have a little more energy & infrastructure in my portfolio and Vinci really convinced me. Well diversified across various sectors, highly regarded by employees and positioned worldwide. The largest revenue driver is in construction with €31 billion, followed by energy with €19 billion, highways with €6 billion and airports with €4 billion.

Long-term investment horizon.

If you have any other exciting companies in the Vinci sector, please feel free to comment.

Vinci $DG (-0,14 %)

What do you think of the infrastructure giant?

Vinci is repositioning itself for the future. This is necessary because the French highway concessions expire in the next decade. It is possible because the French company generates high free cash flows every year.

At the end of March, the Group had liquid funds of 12.0 billion euros and unused bank lines of 6.5 billion euros. In recent weeks and months, the financial opportunities have been used to acquire further low-risk and mature assets with long maturities.

In April, Vinci announced the purchase of a 50.01% stake in Edinburgh Airport, where it intends to double EBITDA by 2030.

In June, the company secured a 20% stake in Budapest Airport with an operating concession term of over 55 years.

Vinci's portfolio now comprises 70 airports worldwide, 26 of which are in Europe.

However, the French company is also active in other exciting segments. The energy division in particular promises structural growth in the future). The share (; FR0000125486) had come under pressure due to the uncertainty surrounding the political developments in France), but was able to turn upwards again in the area of the technical support level of around EUR 98.00, which had already been successfully tested several times previously.

Irrespective of the outcome of the elections, it is considered unlikely that current concession agreements will be terminated by the government.

With a 2025 P/E ratio of 11, Vinci's valuation is at the lower end of the 10-year range (10 to 37).

Quick note: In France, new elections to the National Assembly have been announced following the EU parliamentary elections. These will take place on 30.06. and 07.07. After the CAC 40 slipped by around 2%, there are one or two bargains to be had in France. Today I finally found my target entry prices for $DG (-0,14 %) and $AI (+1,56 %) and quickly filled both positions😁.

Wishing you all a successful Börsenwoche👌🏻.