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EIFFAGE: Nine-month trading statement to 30 September 2013


PR Newswire/Les Echos/

8 November 2013

- Sales in the third quarter of 2013 increased by 4.8%; an increase of 0.8% in the first nine months of 2013

- Activity was strong in the third quarter for both the Contracting divisions (+5.0%) and the Concessions division (+3.7%), new record high level of reservations in France in property development, and the Bretagne-Pays de la Loire (BPL) high-speed rail line project is progressing to plan

- The order book reached EUR12.2bn (stable compared with 1 January 2013), representing more than 12 months of activity for the Contracting divisions.

- Confirmation of the sales guidance, which remains for sales of EUR14.2bn in 2013

1 - SALES FOR THE THIRD QUARTER OF 2013

In millions of euro 3rd quarter 3rd quarter % change


                                2012          2013

CONSTRUCTION                    890           919         +3.3%
Of which Property               135           172
PUBLIC WORKS                  1,093         1,254        +14.7%
ENERGY                          803           761         -5.2%
METAL                           229           233         +1.7%
Sub-total Contracting 
Activities                    3,015         3,167         +5.0%
CONCESSIONS 
(excluding IFRIC 12)            630           653         +3.7%
TOTAL GROUP 
(excluding IFRIC 12)          3,645         3,820         +4.8%
Construction revenue of 
Concessions (IFRIC 12)           60            74          n/m

2 - SALES FOR THE FIRST 9 MONTHS OF 2012

In millions of euro  9 months to 30  9 months to 30    Actual        Constant
                     September 2012  September 2013 consolidation consolidation
                                                       scope        scope and
                                                                     exchange
                                                                      rates

CONSTRUCTION            2,730            2,615         -4.2%          -4.0%
Of which Property         393              429
PUBLIC WORKS            2,857            3,060         +7.1%          +6.1%
ENERGY                  2,345            2,311         -1.4%          -1.4%
METAL                     656              634         -3.4%          -6.4%
Sub-total Contracting 
Activities              8,588            8,620         +0.4%          -0.1%
CONCESSIONS 
(excluding IFRIC 12)    1,673            1,727         +3.2%          +3.2%
TOTAL GROUP 
(excluding IFRIC 12)   10,261           10,347         +0.8%          +0.4%
Of which:
France                  8,711            8,773         +0.7%          +0.4%
Rest of Europe          1,385            1,359         -1.9%          -3.3%
Rest of world             165              215        +30.3%         +30.3%
Construction revenue 
of Concessions 
(IFRIC 12)                138              188                 n/m

3 - REVIEW OF ACTIVITY

Consolidated sales reported by Eiffage for the third quarter of 2013 came to
EUR3.8bn, up by 4.8% compared with the third quarter of 2012.
Consolidated sales in the first nine months of 2013 came to more than 
EUR10.3bn, up year-on-year by 0.8% on a reported basis and by 0.4% 
like-for-like.

At the Contracting activities, sales came to EUR8.6bn in the first nine months
of 2013, up by 0.4% on a reported basis but down 0.1% like-for-like.

Construction: sales of EUR2,6 15m (down by 4.2% on a reported basis and by 
4.0% like-for-like)

- In France, sales (which remain stronger in the Ile-de-France region than in
  the other ones) declined to EUR2,11 7m (down by 5.3%), while order intake
  remained upbeat. In property development, the number of reservations reached 
  a new record high of 2,789, which is more than the total for the whole of 
  2012.

- In the rest of Europe, sales increased to EUR498m (up by 0.6% on a reported
  basis and by 1.6% like-for-like). Activity is stabilising in Benelux and
  recovering in Poland (4.4% increase).

Public Works: EUR3,060m (up by 7.1% on a reported basis and by 6.1%
like-for-like) 

- In France, sales increased to EUR2,540m (up 9.6%), due notably to work on the
  Bretagne-Pays de la Loire (BPL) high-speed rail line project, which is
  progressing to plan.

- In the rest of Europe, sales decreased to EUR382m (down by 11.6%). Activity
  increased in Germany in the third quarter (+2.5%) but still trails after nine
  months (-6.9%), whereas Spain, where the economic environment remains very
  unfavourable, recorded another decrease (-23.7%).

- In the rest of the world, sales increased to EUR109m (up by 34.6%).

Energy: sales of EUR2,31 1m (down by 1.4% like-for-like)

- In France, sales declined to EUR1 ,885m (down 2.7%), the services sector 
  being particularly affected and to a lesser extent the industrial sector.

- In the rest of Europe, sales increased to EUR384m (up 0.5%), the good
  conditions observed in the first half of the year in the countries where the
  division is present having carried over, save in Spain.

- In the rest of the world, sales increased to EUR42m (up by 68.0%).

Metal: sales of EUR634m (down by 3.4% on a reported basis and by 6.4%
like-for-like)

- In France, sales declined to EUR478m (down 9.0%) mainly due to Industrial
  Services and Metallic Construction, whereas Facades (Goyer) confirmed its 
  strong growth (up 55.7%).

- In the rest of Europe, sales increased to EUR76m, up by 1.3% like-for-like 
  and by 28% on a reported basis, following the acquisition of Smulders 
  (present mainly in Belgium as well as the Netherlands and Poland, this group
  is specialised in offshore energy and complex metallic works), which 
  contributed EUR20m in sales over the quarter.

- In the rest of the world, sales increased to EUR60m (up by 7.1%).

In Concessions, total traffic on the APRR network, as measured by the number of
kilometres travelled, increased by 0.4% in the first nine months of 2013
compared with the year before. Light vehicle traffic increased by 0.5%, as 
heavy goods vehicle traffic declined slightly down 0.3% but the trend reversal
is confirmed (2.5% increase in the third quarter).
Consolidated sales contributed by APRR to 30 September 2013 increased to
EUR1,607m, up by 2.4% from EUR1,569m in the first nine months of 2012.

Overall traffic on the Millau viaduct was down by 0.8% compared with the first
nine months of 2012, with a decrease of 0.9% for light vehicles but an increase
of 0.6% for heavy goods vehicles. Revenues increased by 3.8% to EUR31.4m in the
first nine months of 2013.

As regards the A65 Pau-Langon motorway operated by A'Liénor, overall traffic
recorded another increase, up by 5.6%, with increases of 5.6% for light 
vehicles and of 5.5% for heavy goods vehicles. Revenues increased by 11.1% to 
EUR32.0m in the first nine months of 2013.

Revenues for the Avenir motorway in Senegal increased to EUR4.3m after a 
second, 20-kilometre-long section was opened to traffic at the start of August
2013.

Other concessions and Public-Private Partnerships generated sales of EUR52.7m 
in the first nine months of 2013 compared with EUR41 .8m in the first nine 
months of 2012.

4 - FINANCIAL SITUATION

The Group's liquidity (as measured by money market investments and undrawn
confirmed credit lines) reached EUR950m at 30 September 2013 compared with
EUR700m at 30 June 2013, this improvement stemming, notably, from the ramping 
up of the commercial paper issuance programme.
Credit lines available to Eiffage are confirmed through to end-2015.

5 - PROSPECTS

The order book totalled EUR12.2bn on 1 October 2013, stable compared with 
1 January 2013 but down 5.3% compared with 1 October 2012. This represents 
more than 12 months of activity for the Contracting divisions and confirms the 
sales guidance, which remains for Group sales of EUR14.2bn in 2013.

Sales for the year ending 31 December 2013 will be published on 10 February 
2014 after trading hours, and the Group's results for this period on 
26 February 2014.

Investor contact: Xavier Ombrédanne
Eiffage - 163 Quai du Docteur-Dervaux 92601 Asnières-sur-Seine Cedex
Tel: + 33 (0)1 41 32 81 44 - E-mail: xavier.ombredanne@eiffage.com

Press contact: Sophie Mairé
Eiffage - 163 Quai du Docteur-Dervaux 92601 Asnières-sur-Seine Cedex
Tel: + 33 (0)1 41 32 78 84 - E-mail: sophie.maire@eiffage.com

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-0- Nov/11/2013 09:28 GMT

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