Eiffage’s Q3 revenue increases but construction takes a hit

In like-for-like terms, that represented an increase of 3.6%.

Its contracting order book also increased by 47% year on year to €28.8 billion (US$30.4 billion).

Photo: Eiffage

But the picture across the company’s different divisions was mixed. While like-for-like revenue in its energy systems arm was up 10.6% to €5.1 billion, and up 6.7% to €6.1 billion in infrastructure for the nine months to 30 September, it dropped by 11.9% in its construction division to €2.8 billion.

Looking at different geographical regions, Eiffage’s home country of France provided the largest share of the revenue, at €11.3 billion but that represented only 0.9% like-for-like growth.

There was more significant like-for-like growth of 9.6% to nearly €5.7 billion in international markets, most of which came in Europe outside of France. In international markets outside of Europe, Eiffage enjoyed an increase in like-for-like revenue of 34.3% to €607 million.

When it came to the decline in revenue in construction, Eiffage said that work on renovations and construction of public facilities helped to offset a decline in new homes.

Its infrastructure businesses benefitted from the high level of major transportation projects in Europe, including the UK’s HS2 high-speed railway line, the E18 and E39 motorways in Norway and the A3 motorway in Germany. Eiffage Métal’s revenue was boosted by offshore and wind power activities.

Its energy systems business reported strong organic growth in Europe excluding France of 18.1% as well as acceleration through acquisitions of Salvia in Germany and Van Den Poel in the Netherlands. In Spain, it benefited from the phasing of photovoltaic power projects in the third quarter.