Revenues flat as Eiffage profits fall

26 February 2010

Eiffage saw its net profit fall -35% last year to € 190 million as revenues were unchanged compared to 2008 levels at € 13,2 billion. The company said the acquisition of engineering groups Clemessy and Crystal at the end of 2008 effectively offset a -7% downturn in other areas.

The company's biggest fall in sales was in its Construction division, with a -10,1% fall in revenues to € 3,7 billion. Eiffage highlighted Poland and the Czech Republic as particularly difficult areas.

There was also a fall in its Public Works business, where revenues were down -5,1% to € 3,7 billion. The Energy division meanwhile, into which Clemessy and Crystal have been consolidated, saw a +23,3% rise in revenues thanks to the acquisitions.

The only area of organic growth for Eiffage last year was in its Concessions business, where sales rose +1,6% to € 1,9 billion.

Eiffage also said that economic downturn had hit its foreign businesses harder than domestic revenues. Its sales outside France came to just under € 2 billion - 15% of its revenues - which it said was low in historical terms.

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