The highways are good for the construction
Vinci and Eiffage, which have developed alongside their historical expertise in the construction activities of the dealer, have reason to rejoice. Thus, in the first half, Vinci has increased its net profit by 1.9% (703 million euros) thanks to good results in its branch franchise. "Vinci Highways recorded a growth of turnover and results, slides Vinci chairman, Xavier Huillard, in a statement released Tuesday night. Even finding Eiffage where the first half net profit rose 40% (70 million) despite a decline in sales (- 0.8%). "The consolidated operating margin is stabilizing at 6.4% thanks to concessions which partially offsets the increase in new reduction in trading profit of work caused by a climate of increased competition," the company said.
In both groups, growth of turnover was in the first half in the largest concessions in the contracting. Vinci For example, the division's sales highways (ASF, Cofiroute Escota) rose 5% (1.9 billion) to comparable structures, while the turnover of parking division increased 1.2% (427millions ). In contrast to comparable structures, the energy division saw its revenue decline by 3.1%, and Eurovia recorded a fall of 2.1%.
Traffic up
Concessions will also reveal more strongly contributory benefit. Operating income Vinci Highways represents 42.6% of its turnover, when the real estate activity of the group reached only 12.3%. The analysis also applies Eiffage."The turnover of construction down 9.8% in France with the expected reduction in the estate and generally controls the private sector." However, on the motorway network APRR owned Eiffage traffic and therefore sales rose 5.8% for trucks and 2.6% for cars. The effect is felt on operating profit. Thus the public works branch has it lost 31 million, then saw his margin qu'APRR continue to grow.
Bouygues, which has chosen a very different economic model, presented interim results on Tuesday more mixed. Good news side, the group expects an annual turnover of 30.4 billion euros, while there is still one month that he expected 30.1 billion. In contrast, Bouygues has to deal with financial performance worse than expected.This heavyweight CAC40 particular saw net decline of 3% (432millions euros) for a turnover of 14.7 billion also in decline (-1%).
This specialist roads, Colas, which is partly responsible for this slippage. The subsidiary lost 47millions euros, while she had won 58millions last year. "In this context, continuing Colas measures undertaken in 2009 and set up an action plan strengthened in Central Europe and France," the company said in a statement.
In contrast, other subsidiaries were approximately the expected performance: a 4% rise in turnover for Bouygues Telecom, 14% for TF1 with the advertising recovery. Bouygues estate (-5%) and Bouygues Construction (-8%) saw their sales decline, but in the proportions expected by the market.
ALSO READ:
The construction industry in deep trouble
"The recovery in the construction ran out of steam
"The austerity weakens the construction sector
"No recovery in construction before 2012