(AOF) – Eiffage increased by 0.23% to 106.75 euros on the Paris market. The company specializing in the fields of energy transport and distribution, telecommunications and rail signed “a solid first quarter”, marked by “significant order intake”, according to Jefferies. The turnover of the company, which participated in the development of the athletes’ village for the Olympic and Paralympic Games in Paris this summer, increased by 4.9% to 5.19 billion euros and the order book for works increased by 40% to 27.8 billion euros.
On the other hand, construction fell by 13.8% over the period due to an overall decline linked to “the new housing crisis in Europe”, Eiffage indicated in a press release.
“The group published a good turnover, exceeding our estimates while confirming its forecasts for 2024,” notes Stifel.
“This outperformance was driven by the Energy Systems and Infrastructure divisions. More importantly, order intake stood out, given Energy Systems’ latest acquisitions and the usual seasonality of HS2 Infrastructure. Finally, the order book end of year could, in our opinion, lead to a marginal increase in estimates for the 2024 financial year,” continues the broker.
In terms of prospects, Eiffage forecasts an increase in current operating income in Works, driven in particular by further growth in the operating margin of Eiffage Energie Systèmes. Overall, the Group’s share of net income could be of the same order as in 2023.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
