SLIDE 1
1 st half 2009 Activity and results Organisation chart - - PDF document
1 st half 2009 Activity and results Organisation chart - - PDF document
1 st half 2009 Activity and results Organisation chart CONSTRUCTION PUBLIC WORKS ENERGY METAL CONCESSIONS Shareholders structure (at 30.06.2009) Employees 24.4% Eiffaime 8.3% Groupama 6.2% CDC 20.0% Own shares Free Float 3.1%
SLIDE 2
SLIDE 3
Shareholder’s structure (at 30.06.2009)
Free Float 38.0% Groupama 6.2% Employees 24.4% Eiffaime 8.3% CDC 20.0% Own shares 3.1%
SLIDE 4
Sales – 1st half 2009
(€m)
CONSTRUCTION 2,056 1,942
- 5.5 %
- /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 % 5,606 5,607 + 0.0 % CONCESSIONS 916 901
- 1.6 %
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 %
Change
1st half 2008
TOTAL
1st half 2009
TOTAL INDUSTRIES
SLIDE 5
Construction 25.3% Energy 24.5% Metal 5.4% Property Devlpt 4.6% Concessions 13.8% Public Works 26.4%
3,967 4,991 5,844 6,522 6,508
H1 2005 H1 2006 H1 2007 H1 2008 H1 2009
Sales – 1st half 2009
(€m)
SLIDE 6
CONSTRUCTION + 81 + 3.9 % + 81 + 4.2 % PUBLIC WORKS + 21 + 1.1 % + 0.0 % ENERGY + 39 + 3.1 % + 37 + 2.3 % METAL + 9 + 2.6 % + 9 + 2.5 % + 150 + 2.7 % + 127 + 2.3 % CONCESSIONS + 340
+ 37.1 %
+ 318
+ 35.3 %
HOLDING COMPANIES
- 22
- 22
- Current operating profit
+ 468 + 7.2 % + 423 + 6.5 %
% sales
TOTAL INDUSTRIES H1 2008 H1 2009
% sales
Current operating result and margins
(€m)
SLIDE 7
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 H1 2008 H1 2009
Consolidated profit & loss account
(€m)
SLIDE 8
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
+ 119 + 50 Exceptional Items + 21 + 140 + 50 H1 2008 H1 2009 Net profit - Group share Comparable net profit - Group share
Breakdown of net profit – Group share
(€m)
SLIDE 9
ASSETS LIABILITIES
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
June 2009 June 2008 June 2009 June 2008 Dec. 2008 Dec. 2008
Consolidated balance sheet
(€m)
SLIDE 10
Concessions - Fixed assets
(€m)
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
Others - Concessions
22 29 48
Others - PPP
13 19 40 Total 13,365 13,670 13,839
- Dec. 2008
June 2009 Juin 2008
SLIDE 11
Trends in traffic
- 2.4 %
- /w p. cars
+ 0.8 %
- /w h.v.
- 16.8 %
Others 3% Tolls 97% 864 796 757
886
902
+ 5.2 % + 8.5 % + 4.4 %
- 1.8 %
H1 2004 H1 2005 H1 2006 H1 2008 H1 2009
APRR – Consolidated sales
(€m)
SLIDE 12
APRR – Results H1 2009
(€m)
Sales 902 1,834 886 EBITDA + 621 + 1,244 + 600
% CA
+ 68.8 % + 67.8 % + 67.7 %
Net result + 163 + 312 + 150 2008 H1 2009 H1 2008
SLIDE 13
Net debt breakdown
(€m)
- without recourse
11,926 12,390 12,337
- with recourse
248 321 371
total
12,174 12,711 12,708 Holding & Industries
- Cash
- 1,200
- 1,347
- 438
- Borrowings
376 397 356
total
- 824
- 950
- 82
Total net debt 11,350 11,761 12,626 Concessions net debt
June 2008
- Dec. 2008
June 2009
Debt : + Cash : -
SLIDE 14
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
No cash changes
+ 41 + 39
Change in finance leases debt
+ 10 + 25 Change in net debt
- 618
- 865
- /w debt without recourse
- 263
+ 53
- /w Eiffage debt
- 355
- 918
H1 2008 H1 2009
Cash flow statement
(€m)
SLIDE 15
Intangible 2 9 Tangible 122 85 Concessions 411 483 Acquisitions 158 28 Total 693 605 H1 2008 H1 2009
Capital expenditure
(€m)
SLIDE 16
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 % 10,100 10,300 + 2.0 % At 01/07/2008 At 01/07/2009 Change TOTAL
Order book (at 01/07/2009)
(€m)
SLIDE 17
10,470 10,400 9,915 10,100
10,300
1 / 7 / 2 8 1 / 1 / 2 8 1 / 1 / 2 9 1 / 4 / 2 9 1 / 7 / 2 9
Change in order book
(€m)
SLIDE 18
CONSTRUCTION 4,118 3,800
- 7.7 %
- /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 %
11,358 11,500 + 1.3 % CONCESSIONS 1,868 1,900 + 1.7 % 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 %
TOTAL INDUSTRIES TOTAL 2008 Change 2009
forecast
2009 sales
(€m)
SLIDE 19
67 66
20 40 60 80 100 120 140 160 180 200
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
Stock market performance – between 01/01/07 and 28/08/09
Eiffage CAC 40
Base