Eiffage revenue up 13.1% in Q1 – 05/10/2023 19:33

Eiffage logo in Paris, France

(Reuters) – Eiffage reported first-quarter revenue rose 13.1% on Wednesday, citing strong highway franchise results and increased orders.

The French construction and franchise group achieved sales of €4.9 billion in the first quarter of 2023 and recorded a 15% increase in its order book.

Strikes and transport disruptions in France had a positive impact on business, Jeffreys said in a research note, as commuters were forced to return to motorways for lack of a better alternative, mitigating the potential negative impact of higher fuel prices. .

APRR, France’s second-largest motorway operator by revenue, a subsidiary of the Eiffage Group, reported a 5% year-on-year increase in toll revenue in its first-quarter results.

Total traffic on Eiffage’s motorway concessions, measured in kilometers traveled, was up 1.8% at the end of March compared to the previous year.

Eiffage confirmed its outlook for the full year of 2023, specifying that it expects a further increase in its current operating earnings on the order book and franchises.

The group has been the majority shareholder in Getlink, the Channel Tunnel franchise, since October 2022. He said that if it does not consider an acquisition bid, it could increase its stake.

Pending shareholder approval, Eiffage CEO Benoit de Ruffray joined Getlink’s board on April 27. The investment will be included in the group’s attributable net income from the second quarter.

Getlink more than doubled its revenue in the first quarter, driven by a new unit of Eleclink, an undersea cable that carries electricity between France and the United Kingdom.

(Reporting on Victor Joury-Lafont in Gdańsk, French version by Gaël Sheehan, Edited by Blandin-Hinault)

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