2017 annual results
Thanks to an upbeat fourth quarter (+6.4%) for both Contracting (+6.3%) and Concessions (+7.0%), consolidated sales reached €15.0bn in the year ended 31 December 2017, up by 6.9% on a reported basis and by 6.3% like-for-like (lfl).
In the Contracting activities, sales reached €12.2bn (up 6.0% lfl), bolstered once again by the Group’s international operations (up 14.6% to €3.1bn), including recent acquisitions in Germany (MDM, Bohn and Brochier), Switzerland (Yerly) and the Benelux (Vuylesteke), which contributed €62m (i.e. 2.3%), but also by the recovery of activity in France (up 4.4% to €9.1bn).
At the Construction division, sales increased by 2.3% to €3.75bn (up 5.5% in France, but down 10.3% outside France, due mainly to Poland following the delivery at the end of 2016 of the Poznan shopping centre, an exceptional project in terms of its size). As regards the property development activity, the number of reservations topped 4,500 units (increasing to 4,530 from 4,134 in 2016), with sales rising by 10.0% to €845m.
At the Infrastructures division, sales increased by 8.8% to €4.70bn (up by 2.5% in France and by 23.9% outside France), with a sharp rise for Metal activities (up 35.3%), whereas sales contributed by Road activities in France stabilised at €1.78bn.
At the Énergie Systèmes division, sales increased sharply by 9.3% to €3.78bn (up by 5.4% in France and by 24.2% outside France).
In Concessions, the growth in motorway traffic (up 3.2% on the APRR network, up 2.0% on the A65 motorway, up 0.9% on the Millau viaduct and up 28.5% on the Avenir motorway in Senegal) and the contributions made by other concessions and public-private partnerships paved the way for a sharp 7.2% increase in sales to €2.74bn.
Thanks to the significant orders taken, the closing of significant external acquisition in 2017 (maritime works activities of Saipem in French civil engineering) and early 2018 (Kropman in the Netherlands in energy) and notwithstanding an expected lower traffic growth, the Group expects a new growth in its revenues in 2018. Its results(2) should also progress.
Beyond this timeframe, the upcoming Grand Paris Express projects, of which the lot 1 of the line 16 attributed to the Group on February 20th 2018 will also strengthen the Group activites.