Virus lockdown hits Eiffage’s Q1 results
By Mike Hayes13 May 2020
French contractor Eiffage has reported construction sales slump of 13.0% in the first quarter, due to lockdown measures around Europe.
The company recorded construction revenue of €807 million, compared with €923 million for the same period in 2019.
Yet, in its analysis, the company forecast a much sharper decline in its second quarter report, adding that it expected its revenue slump to be more pronounced for its activities in France than in its international activities.
Eiffage generated 74% of its construction sales in France in 2019, where, as well as contracting on major infrastructure projects, including roads, rail and airport, it operates a number of toll roads, which have also been significantly affected by the country’s lockdown measures.
Although the country took its first steps towards easing the lockdown this week, Eiffage said that, although any move towards a return to work was welcome, it was difficult to predict what impact that would have on its full-year results.