VINCI Construction has agreed to acquire Fletcher Construction, a division of New Zealand-based Fletcher Building Group, for NZ$315.6m ($184m). The transaction could rise to NZ$334.1m depending on the resolution of several ongoing contracts. Subject to regulatory approvals, the deal is anticipated to close by the end of 2026. The agreement covers Fletcher Construction Holdings and its three business units in New Zealand: Higgins, which specialises in civil construction and road maintenance; Brian Perry ...

Core Insights - VINCI Airports experienced significant growth in passenger traffic, welcoming over 334 million passengers in 2025, an increase of 16 million travelers or 5% compared to 2024 [2][9] - The fourth quarter of 2025 also showed a traffic increase of 3.2% compared to the same period in 2024, indicating robust momentum across various regions [3][9] Traffic Trends - European airports, particularly Budapest and Edinburgh, recorded strong growth, with Budapest experiencing double-digit growth driven by airlines like easyJet, Ryanair, and Wizz Air [4] - In Portugal, Porto airport saw traffic growth due to low-cost airline offerings and expanded transatlantic routes, while Lisbon airport continued to show notable growth in long-haul flights [5] - Latin America and Africa also saw traffic acceleration, with Salvador de Bahia in Brazil achieving record traffic in Q4, supported by GOL's expansion and long-haul traffic from TAP and Air Europa [6] Regional Performance - Japan's traffic results increased in Q4 despite geopolitical tensions with China, which led to some flight cancellations [7] - The overall traffic growth at VINCI Airports was reflected in various regions, with notable increases in Serbia (+8.6%), Hungary (+9.9%), and Brazil (+8.5%) [11] Commercial Movements - VINCI Airports reported a 1.9% increase in commercial movements year-to-date, with a 4.0% increase in Q4 compared to the previous year [12] - Specific airports like Lyon in France and Monterrey in Mexico showed strong performance in commercial movements, with Lyon experiencing a 2.9% increase and Monterrey a significant 8.6% increase [13][17] Passenger Traffic by Airport - Lisbon airport in Portugal recorded 8,669 thousand passengers in Q4 2025, reflecting a 3.4% increase, while Porto airport saw an 8.1% increase [14] - In the United Kingdom, Edinburgh airport showed an 8.4% increase in traffic, while Gatwick experienced a slight decline of 2.5% [14] Summary of Key Figures - Total passenger traffic for VINCI Airports in Q4 2025 was 80,777 thousand, marking a 3.2% increase, with a total of 334,123 thousand passengers for the year, a 5.0% increase [16][19] - The overall commercial flights for VINCI Airports in Q4 2025 reached 622,333, reflecting a 1.7% increase year-on-year [19]

Nanterre, 20 January 2026 VINCI strengthens its position in New Zealand through the acquisition of Fletcher Construction An annual revenue of about €630 million with a workforce of 2,300 employeesStrengthening VINCI Construction’s position in New ZealandStrong growth in the infrastructure construction market VINCI Construction has signed an agreement to acquire Fletcher Construction, subsidiary of the New Zealand-based Fletcher Building Group. Submitted for approval by the relevant authorities, this acquis ...

Core Insights - Intuitive Surgical's da Vinci 5 is in the early stages of international rollout, representing a long-term growth opportunity, but may face near-term hurdles [1][5] - The company is advancing regulatory clearances and early commercial activities outside the U.S., focusing on a country-specific approach for international adoption [2] - Pricing sensitivity and capital budget constraints are significant challenges in international markets, particularly in Europe and Japan [3] Company Strategy - Intuitive Surgical is adopting a portfolio-based approach to address challenges, utilizing leasing structures and alternative configurations to enhance affordability [4] - The company reported solid growth in utilization in several international markets, which is expected to support recurring revenues from instruments and accessories [4] Market Performance - Intuitive Surgical's shares have increased by 9.7% over the past six months, compared to a 12.8% increase for the industry [11] - The company trades at a forward price-to-earnings ratio of 58.13, which is above the industry average but lower than its five-year median of 71.52 [12] Earnings Estimates - The Zacks Consensus Estimate for Intuitive Surgical's 2026 earnings indicates an 11.1% rise from the previous year's level [13] - Current estimates for the upcoming quarters show a year-over-year growth estimate of 1.81% for the current quarter and 16.57% for the next quarter [16]

Nanterre, 12 January 2026 ASF successfully issued an 8-year €500 million bond ASF has successfully issued a €500 million bond due to mature in January 2034 and carrying an annual coupon of 3.375%. With an oversubscription ratio of almost 4x, the bond issue reflects the market’s trust in the company’s credit ratings (Standard & Poor’s: A-, stable outlook; Moody’s: A3, stable outlook). Performed under its EMTN programme, this issue enables ASF to extend its average debt maturity in excellent conditions consi ...

Core Insights - Intuitive Surgical (ISRG) is positioning the da Vinci 5 system as a platform for expansion into new surgical specialties, particularly cardiac surgery, which could significantly broaden the company's total addressable market (TAM) in the long term [1][2][9] Company Developments - The da Vinci 5's enhanced features, including precision and digital capabilities, aim to make robotic surgery viable for cardiac patients who are not ideal candidates for traditional methods, indicating a medium-term R&D focus rather than immediate revenue generation [2][4] - ISRG has made regulatory progress in general surgery by submitting applications for nipple-sparing mastectomy, which aligns with the company's strengths and could facilitate quicker clinical adoption once approved [3][9] Competitive Landscape - The surgical robotics market is becoming more competitive, with Medtronic and Johnson & Johnson's MedTech unit achieving regulatory clearances that expand their robotic platforms into new clinical applications, highlighting a shift in market dynamics [5][6][7] - Medtronic received FDA clearance for its Hugo robotic-assisted surgery system for urologic procedures, marking its entry into a segment traditionally dominated by ISRG [6] - Johnson & Johnson's MONARCH Platform has received clearance for enhancements that improve access to lung nodules, showcasing innovation in the interventional pulmonology segment [7] Financial Performance - ISRG shares have increased by 11.3% over the past six months, outperforming the industry average increase of 9.1% [8] - The company trades at a forward price-to-earnings ratio of 60.66, which is above the industry average but lower than its five-year median of 71.52, indicating a mixed valuation perspective [10] - The Zacks Consensus Estimate for ISRG's 2026 earnings suggests an 11.1% increase compared to the previous year [11]

Nanterre, 5th January 2026 Implementation of the share buyback programme As part of the implementation of its share buyback programme, VINCI signed a share purchase agreement with an investment services provider on 5th January 2026. According to the agreement, valid from January 6th until March 25th, 2026 at the latest, VINCI is mandating the investment services provider to purchase VINCI shares on its behalf within the limit of €600 million. The purchase price cannot exceed the maximum price set by the VI ...

French public limited company (société anonyme)with a share capital of €1,454,542,075.00Registered office : 1973, boulevard de la Défense92000 Nanterre – France552 037 806 RCS Nanterrewww.vinci.com DISCLOSUREOF THE NUMBER OF SHARES FORMING THE CAPITALAND OF THE TOTAL NUMBER OF VOTING RIGHTS AS OF 31 DECEMBER 2025 Total number of shares581,816,830Theoretical number of voting rights (including treasury stock)581,816,830Number of voting rights (excluding treasury stock)555,967,094 This disclosure is on VINCI w ...

Nanterre, 16 December 2025 VINCI Autoroutes and VINCI Airports traffic in November 2025 I- Change in VINCI Autoroutes’ intercity networks traffic NovemberYTD at the end of November (11 months) % change 2025/2024% change 2025/2024VINCI Autoroutes−3.4%+1.1% Light vehicles−3.7%+1.2% Heavy vehicles<td style="width:26. ...

Core Insights - Intuitive Surgical (ISRG) experienced a significant 14% increase in stock price following its Q3 earnings report in October, contributing to a broader rally in the U.S. medical device sector [1] Company Summary - Intuitive Surgical was initially overlooked during a notable recovery in the healthcare sector leading up to its earnings report [1] - The positive market reaction post-earnings indicates renewed investor interest and confidence in the company's performance and prospects [1] Industry Summary - The rally among U.S. medical device companies was sparked by Intuitive Surgical's earnings update, suggesting a potential shift in market sentiment towards the sector [1] - The healthcare sector is showing signs of recovery, with Intuitive Surgical's performance serving as a catalyst for broader market movements within medical devices [1]