1 st half 2009 – Activity and results
Organisation chart CONSTRUCTION PUBLIC WORKS ENERGY METAL CONCESSIONS
Shareholder’s structure (at 30.06.2009) Employees 24.4% Eiffaime 8.3% Groupama 6.2% CDC 20.0% Own shares Free Float 3.1% 38.0%
Sales – 1 st half 2009 (€m) 1 st half 1 st half Change 2008 2009 CONSTRUCTION 2,056 1,942 - 5.5 % o/w property development 313 298 PUBLIC WORKS 1,941 1,718 - 11.5 % ENERGY 1,258 1,592 + 26.6 % METAL 351 355 + 1.1 % TOTAL INDUSTRIES 5,606 5,607 + 0.0 % CONCESSIONS 916 901 - 1.6 % TOTAL 6,522 6,508 - 0.2 % IFRIC 12 146 121 Of which - France 5,236 5,520 + 5.4 % - Europe 1,211 928 - 23.4 % - rest of the world 75 60 - 20.0 %
Sales – 1 st half 2009 (€m) 6,522 6,508 Concessions Construction 13.8% 5,844 25.3% 4,991 3,967 Property Metal Devlpt 5.4% 4.6% Energy Public Works 24.5% 26.4% H1 2005 H1 2006 H1 2007 H1 2008 H1 2009
Current operating result and margins (€m) H1 2008 H1 2009 % sales % sales CONSTRUCTION + 81 + 3.9 % + 81 + 4.2 % PUBLIC WORKS + 21 + 1.1 % 0 + 0.0 % ENERGY + 39 + 3.1 % + 37 + 2.3 % METAL + 9 + 2.6 % + 9 + 2.5 % TOTAL INDUSTRIES + 150 + 2.7 % + 127 + 2.3 % CONCESSIONS + 340 + 318 + 37.1 % + 35.3 % HOLDING COMPANIES -22 - -22 - Current operating profit + 468 + 7.2 % + 423 + 6.5 %
Consolidated profit & loss account (€m) H1 2008 H1 2009 Sales 6,522 6,508 Current operating profit + 468 + 423 Other operating items + 16 - 59 Interest - 241 - 241 Other financial items - 6 - 9 Tax - 76 - 39 Equity accounted companies + 3 - 3 Minority interests - 24 - 22 Net profit - Group share + 140 + 50
Breakdown of net profit – Group share (€m) H1 2008 H1 2009 CONSTRUCTION + 62 + 54 PUBLIC WORKS + 9 - 15 ENERGY + 21 + 12 METAL + 4 + 4 CONCESSIONS + 36 + 27 HOLDING COMPANIES + 11 - 10 Comparable total net profit + 143 + 72 Minority interests - 24 - 22 Comparable net profit - Group share + 119 + 50 Exceptional Items + 21 Net profit - Group share + 140 + 50
Consolidated balance sheet (€m) June Dec. June June Dec. June ASSETS LIABILITIES 2008 2008 2009 2008 2008 2009 Concessions 13,365 13,670 13,839 Capital and reserves 2,740 2,340 2,448 Intangible assets 2,546 2,821 2,840 Net profit 140 292 50 Tangible assets 1,129 1,175 1,155 Shareholders' equity 2,880 2,632 2,498 Investments 509 135 134 Minority interests 648 439 447 Fixed assets 17,549 17,801 17,968 Provisions 932 1,006 1,012 Eiffage Net Cash 576 629 - Eiffage Net Debt - - 289 Debt without recourse 11,926 12,390 12,337 Other assets 6,492 6,305 6,160 Other liabilities 8,231 8,268 7,545 TOTAL 24,617 24,735 24,128 TOTAL 24,617 24,735 24,128
Concessions - Fixed assets (€m) Juin 2008 Dec. 2008 June 2009 APRR 12,413 12,495 12,359 Millau viaduct 393 392 390 Norscut 34 21 20 Prado Carénage 20 21 20 Perpignan - Fig. 32 49 49 A65 173 255 408 Optimep 4 184 241 262 CHSF 53 90 138 Henn'ez 14 25 39 Hanvol 7 15 35 Centor 36 7 18 31 22 29 48 Others - Concessions 13 19 40 Others - PPP Total 13,365 13,670 13,839
APRR – Consolidated sales (€m) Trends in traffic - 2.4 % o/w p. cars + 0.8 % 902 886 o/w h.v. - 16.8 % 864 + 4.4 % - 1.8 % + 8.5 % 796 757 + 5.2 % Others 3% Tolls 97% H1 2004 H1 2005 H1 2006 H1 2008 H1 2009
APRR – Results H1 2009 (€m) H1 2008 2008 H1 2009 Sales 902 1,834 886 EBITDA + 621 + 1,244 + 600 % CA + 68.8 % + 67.8 % + 67.7 % Net result + 163 + 312 + 150
Net debt breakdown (€m) Debt : + Cash : - June 2008 Dec. 2008 June 2009 Concessions net debt 11,926 12,390 12,337 - without recourse 248 321 371 - with recourse 12,174 12,711 12,708 total Holding & Industries -1,200 -1,347 -438 - Cash 376 397 356 - Borrowings -824 -950 -82 total Total net debt 11,350 11,761 12,626
Cash flow statement (€m) H1 2008 H1 2009 Consolidated cash flow + 444 + 426 Change in WCR - 418 - 603 Capital expenditure - 693 - 605 Disposals + 120 + 16 Net cash flow - 547 - 766 Dividends - 119 - 111 Change in shareholders' equity - 3 - 52 Change in net bank debt - 669 - 929 + 41 + 39 No cash changes + 10 + 25 Change in finance leases debt Change in net debt - 618 - 865 o/w debt without recourse - 263 + 53 o/w Eiffage debt - 355 - 918
Capital expenditure (€m) H1 2008 H1 2009 Intangible 2 9 Tangible 122 85 Concessions 411 483 Acquisitions 158 28 Total 693 605
Order book (at 01/07/2009) (€m) At 01/07/2008 At 01/07/2009 Change CONSTRUCTION 4,790 4,065 - 15.1 % PUBLIC WORKS 3,130 3,370 + 7.7 % ENERGY 1,630 2,165 + 32.8 % METAL 550 700 + 27.3 % TOTAL 10,100 10,300 + 2.0 %
Change in order book (€m) 10,470 10,400 10,300 10,100 9,915 8 8 9 9 9 0 0 0 0 0 0 0 0 0 0 2 2 2 2 2 / / / / / 7 0 1 4 7 0 1 0 0 0 / / / / / 1 1 1 1 1 0 0 0 0 0
2009 sales (€m) 2009 2008 Change forecast CONSTRUCTION 4,118 3,800 - 7.7 % o/w property development 631 495 PUBLIC WORKS 3,932 3,800 - 3.4 % ENERGY 2,591 3,200 + 23.5 % METAL 717 700 - 2.4 % TOTAL INDUSTRIES 11,358 11,500 + 1.3 % CONCESSIONS 1,868 1,900 + 1.7 % TOTAL 13,226 13,400 + 1.3 % Of which - France 10,733 11,300 + 5.3 % - Europe 2,357 2,000 - 15.1 % - rest of the world 136 100 - 26.5 %
Stock market performance – between 01/01/07 and 28/08/09 Eiffage 200 CAC 40 180 160 140 120 Base 100 67 80 60 66 40 20 01/01/2007 01/04/2007 01/07/2007 01/10/2007 01/01/2008 01/04/2008 01/07/2008 01/10/2008 01/01/2009 01/04/2009 01/07/2009
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