EIFFAGE: sales for the fourth quarter of 2012
PR Newswire/Les Echos/
8 February 2013
SALES FOR THE FOURTH QUARTER OF 2012
In millions of euro
4th quarter 4th quarter % change
2011 2012 CONSTRUCTION 1,038 1,068 +2.9% Of which Property 196 206 PUBLIC WORKS 1,019 1,084 +6.4% ENERGY 853 884 +3.6% METAL 212 236 +11.3% Sub-total Contracting Activities 3,122 3,272 +4.8% CONCESSIONS (excluding IFRIC 12) 491 502 +2.2% TOTAL GROUP (excluding IFRIC 12) 3,613 3,774 +4.5% Construction revenue of Concessions (IFRIC 12) 13 87 n/m
SALES FOR THE YEAR ENDED 31 DECEMBER 2012
In millions of euro
2011 2012 Actual Like for
like CONSTRUCTION 3,781 3,798 +0.4% +3.0% Of which Property 575 599 PUBLIC WORKS 3,889 3,941 +1.3% +1.4% ENERGY 3,143 3,229 +2.7% +1.3% METAL 775 892 +15.1% +11.7% Sub-total Contracting Activities 11,588 11,860 +2.3% +2.7% CONCESSIONS (excluding IFRIC 12) 2,144 2,175 +1.4% +2.1% GROUP TOTAL (excluding IFRIC 12) 13,732 14,035 +2.2% +2.6% Of which: France 11,579 11,889 +2.7% +2.8% Rest of Europe 1,983 1,903 -4.0% -2.1% Rest of world 170 243 +42.9% +42.9% Construction revenue of Concessions (IFRIC 12) 186 225 n/m
With consolidated sales of EUR3.8bn, EIFFAGE posted upbeat performances for the fourth quarter of 2012, up 4.5% from the fourth quarter of 2011, of which 4.8% for the Contracting activities and 2.2% for the Concessions.
For the whole year 2012, consolidated sales came to EUR14.0bn, in line with management guidance; it is up by 2.6% on a like-for-like basis.
On an actual basis, consolidated sales increased by 2.2%, with a more pronounced increase in France (+2.7%), whereas sales contributed by the rest of Europe were down overall (-4.0%) where a number of loss-making activities have been discontinued towards the end of 2011.
In 2012, the Contracting activities recorded a further increase in sales to EUR11.9bn (up by 2.3% on an actual basis and by 2.7% on a like-for-like basis), with a particularly strong performance in the fourth quarter (up 4.8% to EUR3.3bn).
Construction: sales of EUR3,798m (up by 0.4% on an actual basis and by 3.0% on a like-for-like basis)
. In France (EUR3,112m, up 5.3% on a like-for-like basis), EIFFAGE
CONSTRUCTION continued to post particularly upbeat performances (up by 4%
over the year as a whole and by 4.5% in the fourth quarter), particularly
in the Ile-de-France region. As regards the Property business, 885
residential units were sold in the fourth quarter for a total of 2,785 in
2012, down by only 11.3% compared with 2011, whereas the sector is expecting
a far steeper decline.
. In Europe (EUR686m, down 6.5% on a like-for-like basis), sales declined
slightly in the Benelux countries (down 2.0%) but more sharply in Poland (down 26.6%), due notably to a more stringent selectivity of orders intake.
Public Works: sales of EUR3,941 m (up by 1.3% on an actual basis and by 1.4% on a like-for-like basis
. In France (EUR3,221m, up 2.5% on a like-for-like basis), all of the
activities of EIFFAGE TRAVAUX PUBLICS performed strongly in the fourth
quarter, with an overall increase in sales of 6.4%. After trailing by 1.5%
in the first nine months, the Road Construction and Maintenance business
posted an increase of 0.4% over the year as a whole. The Large Projects and
Civil Engineering businesses, recorded an increase of 7.4%.
. In Europe, (EUR590m, down 6.5% on a like-for-like basis), activity continued
to decline in Spain (23.4% decrease in a still depressed economic
environment whereas activity remained stable in Germany.
. In the rest of the world (EUR1 30m, up 14.0% on a like-for-like basis), most
of the activity was concentrated in Senegal.
Energy: sales of EUR3.229m (up by 2.7% on an actual basis and by 1.3% on a like-for-like basis)
. In France (EUR2,663m, down 0.2% on a like-for-like basis), sales contributed
by the ENERGY division increased by 1.4% over the year as a whole and by
2.3% in the fourth quarter, thanks notably to the aeronautics, nuclear and
. In Europe (EUR524m, up 7.5% on a like-for-like basis), after the 7.1%
decrease recorded in 2011, sales continued to grow in Italy with a 10.4%
increase, while they recovered significantly in Germany (up 24,1 %), in
Belgium (up 5,6 %) and in Spain (up 2,1 %).
. In the rest of the world, sales remained modest at EUR42m but increased by
27.3% in 2012.
Metal: sales of EUR892m (up by 15.1 % on an actual basis and by 11.7% on a like-for-like basis)
. In France (EUR722m, up 5.2% on a like-for-like basis), EIFFAGE CONSTRUCTION
MÉTALLIQUE recorded an overall increase of 7.1% compared with 2011, fuelled
mainly by metallic construction (up 5.0%) and facades (up sharply by 32.8%),
whereas industrial services recorded a slight decrease in 2012.
. In Europe (EUR103m, up 15.4% on a like-for-like basis), sales increased slightly in Germany (up 0.8%) but very strongly in Spain (construction of windmill masts).
. In the rest of the world (EUR67m), sales increased nearly threefold (from
EUR23m in 2011) thanks mainly to work performed in Nigeria on Total's Ofon
In Concessions, total traffic on the APRR network, as measured by the number of kilometres travelled, declined by 2.7% in the fourth quarter of 2012 and by 1.7% over the year as a whole.
Light vehicle traffic declined by 1.3% in 2012 mainly because of the unfavourable weather conditions in the first half, while heavy goods vehicle traffic declined by 3.8%, still affected by the slowdown in economic activity. As toll revenues increased by 0.5% and other revenues by 11.3%, sales contributed by APRR increased to EUR2,039m in 2012, up by 0.8% from EUR2,022m in 2011.
Overall traffic on the MILLAU VIADUCT was down by 1.9% compared with 2011, with decreases of 1.7% for light vehicles and 3.7% for heavy goods vehicles. Toll revenues increased by 2.4% to EUR37m in 2012.
As regards the A65 motorway operated by A'LIÉNOR, overall traffic increased sharply by 4.6%, with increases of 4.3% for light vehicles and of 9.1% for heavy goods vehicles. Toll revenues increased by 9.9% to EUR38m in 2012.
THE AUTOROUTE DE L'AVENIR in Senegal generated nearly EUR4m in toll revenues in its first year of operation.
Facilities operated under PUBLIC PRIVATE PARTNERSHIPS (PPPs) and other concessions generated sales of EUR58m in 2012, up 12.9% from EUR51m in 2011 (which included a contribution of EUR13m by Optimep, which was sold at the end of 2011).
* The order book came to EUR12.2bn at 1 January 2013, down by 9.7% compared with 1 January 2012. However, it is up 13% from 1 January 2011 and remains at an historically high level. This order book, which represents more than 12 months of Contracting revenues, ensures a sustained level of activity for 2013. * * *
Results for the year ended 31 December 2012 will be published on 27 February after market.
* * *
Xavier Ombredanne EIFFAGE SA 163 Quai du Docteur-Dervaux, 92601 Asnières-sur-Seine Cedex Tel: +33 (0)1 41 32 81 44 - E-mail: email@example.com
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