Eiffage records ‘stable’ financial results
By Neill Barston28 August 2014
French-based firm Eiffage has reported a stable financial performance in its half-year results.
Despite sales figures of €6.5 billion being 0.2% down, the company’s operating margins increased 7.3% to €556 million and its order book improved by 4.8% to €12.3 billion since January.
Profits showed a sharp 17.2% increase to £68 million for the first half of 2014, with the company’s debt levels reduced by €595 to €12.6 billion.
As a result of a “difficult economic environment” it suffered 8% sales losses within the company’s energy division. There was a 1% loss in its French contracting business and a 1.1% decline in its public works operations.
There was also a 4.4% increase within its construction interests. This included an improving picture within France, which recorded strong residential sales, with Poland also seeing an uplift in sales.
Sector breakdowns for operating margins included positive results within construction, holding at a level of 4.0% (compared with 4.2% in the first half of 2013).
There was also a trend of recovery within its public works, which produced results 2.2% down compared to a 2% fall for 2013.
Eiffage has forecast an improved picture for the second half of 2014, with planned projects including work on Grand Paris urban improvement schemes within the capital and an overhaul of EDF’s nuclear power stations.