03edff90-3599-46c4-8b22-f9c35115ee7f.pdf PRESS RELEASE

Boulogne, May 13, 2016

1st QUARTER 2016
  • Revenue: 1.8 billion euros (- 11.4% and -6.6% at constant scope and exchange rates)
  • Net profit attributable to the Group: -171 million euros (-170 million euros for 1st quarter 2015)
  • High level of work on hand: 7.7 billion euros (-2%)
Consolidated key figures

1st quarter

2016

2015

Consolidated revenue

1,754

1,979

of which France

1,084

1,189

of which International

670

790

Current operating income

-223

-244

Operating income

-238

-244

Consolidated net profit attributable to the Group

-171

-170

Change

-11.4%

-8.8%

-15.2%

+21

+6

-1

Reminder Fiscal 2015

11,960

6,044

5,916

344

249

234

In millions of euros

Net cash

64

20

+44

560

Seasonal nature of business activity

Due to the highly seasonal nature of most of the Group's businesses, it is important to underline the fact that Colas' 1st quarter activity, results and cash figures are of little significance, and that they are not representative of a full fiscal year. As such, operating losses are recorded each year during the 1st quarter.

Revenue

1st quarter 2016 revenue amounted to 1.75 billion euros, down 11.4% (-6.6% at constant scope and exchange rates). France posted a total of 1.1 billion euros (-8.8%) and the International units recorded 0.7 billion euros (-15.2%).

Roads:

Revenue totaled 1.3 billion euros (-8% and -4% at constant scope and exchange rates).

In Mainland France, revenue is down 2.5% (-1.7% at constant scope) as market volumes appear to be stabilizing.

Revenue in the International units and French Overseas Departments is down 14%, due to:

  • an 8% scope and exchange rate effect, notably following the sale of subsidiaries specialized in bitumen sales and storage in Asia to the Thai subsidiary Tasco, accounted for with the equity method;

  • a drop in activity in central Europe.

Excluding these two elements, business in the International and French Overseas Departments is comparable to the 1st quarter 2015.

Specialized activities:

Revenue totaled 0.4 billion euros (-14% at constant scope and exchange rates). Waterproofing was down 11% and business got off to a late start in Railways compared to the 1st quarter 2015, which does not affect forecasts for Railways in 2016.

Profitability

Current operating income amounted to -223 million euros compared to -244 million euros for the 1st quarter 2015. Expenses incurred by the Sales of refined products activity, which mainly correspond to fixed costs at the subsidiary SRD in Dunkirk where production has been halted, are accounted for as non-current operating expenses as of January 1, 2016.

Net profit attributable to the Group amounted to -171 million euros, compared to -170 million euros at end-March 2015.

Net cash

Net cash as of March 31, 2016 amounts to 64 million euros, compared to 560 million euros at the end of December 2015, which is for the most part a reflection of the seasonal nature of Colas' businesses.

Outlook

At the end of March 2016, work on hand remained high at 7.7 billion euros, down 2% from the end of March 2015. Work on hand is up 2% at 4.7 billion euros in the international units and French Overseas Departments and is down 7% at 3.0 billion euros in Mainland France.

Negotiations for the social plan to accompany the cessation of activity at the Dunkirk bitumen production unit (SRD) are currently on schedule.

Outlook for the year as released on February 24, 2016 remains unchanged.

The accounts have been the subject of a limited review by the Statutory Auditors.

The press release is available in English and in French at www.colas.com

For further information: Ms. Delphine Lombard (tel.: +33 1 47 61 76 17) - delphine.lombard@colas.com

Bouygues SA published this content on 13 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 May 2016 06:23:07 UTC.

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