Capital gains and concessions boost to the year 2007 Eiffage
Eiffage has published 2007 results spiked by capital gains and its concessions while announcing aim for 2008 a turnover of 13 billion euros excluding acquisitions.
The building group and concessions recorded in 2007 a group net income of one billion euros (multiplied by 2.7), a net operating profit of 1,141 million (+18.5%) and a turnover Business (already published) from 12,596 million (+17.2%).
According to the Reuters Estimates consensus, dated February 28, analysts on average were expecting a net profit of 926 million euros and a net operating profit of 1,160 million.
"The commercial success of the group, particularly in the PPP (public-private partnerships) and concessions have contributed to the increase in the backlog of orders, an increase of 12.1% over the year 2007, 9.8 billion euros, representing nearly a year of activity of the branches work, "said Eiffage in a statement.
"This can be considered for 2008, a further increase in consolidated revenues to 13 billion euros, of which 11.1 billion for the work and 1.9 billion euros for Concessions . This forecast takes into account the anticipation of a less favourable economic climate in several countries where the group is active and does not include new acquisitions, "he added.
Eiffage also stressed having "significant financial resources giving broad leeway to seize opportunities that will provide markets to develop its business and enhance its action."
It has however given no indication that the dividend could propose under 2007.
In the past year, the net result of Eiffage particular, has benefited gains of 667 million euros generated by the sale to Vinci of its stake in Cofiroute, and the opening of the Millau viaduct in the Fund Filings.
THE CONCESSIONS A "SATISFACTION"
The construction industry in particular has further increased its current operating margin to reach 5.6% of sales growth (+12.8%) to 3.8 billion euros.
"Concessions were, in 2007, a great source of satisfaction (...) with the improved performance of APRR whose EBITDA margin increased by three points to 67%, moving closer to the best companies of Sector ", also stressed Eiffage.
APRR and the Millau Viaduct have contributed to the net operating profit of the group to the tune of 675 million euros, or 35% more than in 2006.
The group's financial situation is now positive 931 million euros, excluding debt concessions from 11.7 billion euros, without recourse on Eiffage, mostly housed in APRR and its holding Eiffarie control.
Eiffage is also engaged in a legal battle with its 1st shareholder, the Spanish Sacyr Vallehermoso, which holds nearly one third of its capital.
The Paris Court of Appeal will decide on April 2 at the request of Sacyr to quash a decision by the AMF is instructed to make a public offer on Eiffage. The Commercial Court of Nanterre must then make its decision on May 6 Sacyr's request to cancel the general shareholders french group of 18 April 2007.
Sacyr joined in early 2006 with a capital of Eiffage, shortly after it had won the privatization of APRR second french motorway operator.
Eiffage has published 2007 results spiked by capital gains and its concessions while announcing aim for 2008 a turnover of 13 billion euros excluding acquisitions.
The building group and concessions recorded in 2007 a group net income of one billion euros (multiplied by 2.7), a net operating profit of 1,141 million (+18.5%) and a turnover Business (already published) from 12,596 million (+17.2%).
According to the Reuters Estimates consensus, dated February 28, analysts on average were expecting a net profit of 926 million euros and a net operating profit of 1,160 million.
"The commercial success of the group, particularly in the PPP (public-private partnerships) and concessions have contributed to the increase in the backlog of orders, an increase of 12.1% over the year 2007, 9.8 billion euros, representing nearly a year of activity of the branches work, "said Eiffage in a statement.
"This can be considered for 2008, a further increase in consolidated revenues to 13 billion euros, of which 11.1 billion for the work and 1.9 billion euros for Concessions . This forecast takes into account the anticipation of a less favourable economic climate in several countries where the group is active and does not include new acquisitions, "he added.
Eiffage also stressed having "significant financial resources giving broad leeway to seize opportunities that will provide markets to develop its business and enhance its action."
It has however given no indication that the dividend could propose under 2007.
In the past year, the net result of Eiffage particular, has benefited gains of 667 million euros generated by the sale to Vinci of its stake in Cofiroute, and the opening of the Millau viaduct in the Fund Filings.
THE CONCESSIONS A "SATISFACTION"
The construction industry in particular has further increased its current operating margin to reach 5.6% of sales growth (+12.8%) to 3.8 billion euros.
"Concessions were, in 2007, a great source of satisfaction (...) with the improved performance of APRR whose EBITDA margin increased by three points to 67%, moving closer to the best companies of Sector ", also stressed Eiffage.
APRR and the Millau Viaduct have contributed to the net operating profit of the group to the tune of 675 million euros, or 35% more than in 2006.
The group's financial situation is now positive 931 million euros, excluding debt concessions from 11.7 billion euros, without recourse on Eiffage, mostly housed in APRR and its holding Eiffarie control.
Eiffage is also engaged in a legal battle with its 1st shareholder, the Spanish Sacyr Vallehermoso, which holds nearly one third of its capital.
The Paris Court of Appeal will decide on April 2 at the request of Sacyr to quash a decision by the AMF is instructed to make a public offer on Eiffage. The Commercial Court of Nanterre must then make its decision on May 6 Sacyr's request to cancel the general shareholders french group of 18 April 2007.
Sacyr joined in early 2006 with a capital of Eiffage, shortly after it had won the privatization of APRR second french motorway operator.
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