PR Newswire/Les Echos/
Financial information 3rd quarter 2009
November 12 2009
Revenue at the end of September 2009: EUR 8.7 B (-9.7%)
In millions of euros
1st quarter 2nd quarter 3rd quarter
2009 2008 2009 2008 2009 2008
1,972 2,189 3,144 3,442 3,568 3,983
% 09/08
With identical
TOTAL TOTAL % 09/08 exchange rates
9 mos. 2009 9 mos. 2008 9 mos. and scope of
business
France 5,024 5,564 - 9.7% -10.2%
International 3,660 4,050 - 9.6% -9.6%
TOTAL 8,684 9,614 - 9.7% -10.0%
At the end of September 2009, consolidated revenue totaled 8.7 billion
euros, a 9.7% drop from the end of September 2008 (-10% with identical
exchange rates and scope of business). The breakdown per geographic region
is as follows:
- Mainland France: EUR 4.7 billion (-9.1%)
- French overseas departments: EUR 0.3 billion (-18%)
France: EUR 5.0 billion (-9.7%)
- North America: EUR 1.5 billion (-4.5%)
- Europe: EUR 1.5 billion (-15.4%)
- Africa/Indian Ocean/ Asia: EUR 0.7 billion (-6.8%)
International: EUR 3.7 billion (-9.6%)
In mainland France, the third quarter surge that had been forecast
in the wake of national stimulus plan never came to be. Uncertainty as to
tax revenue kept local authorities from investing. Prices were low, and
profitability was favored over volume.
In the French overseas departments, public and private investments
were down due to social unrest in the French Caribbean and the completion
of major projects in La Reunion Island.
Investments as part of the US stimulus plan were lower than what had
been expected as a portion of the funds will only be available in 2010.
In Canada, the market is still buoyant in Quebec and has dropped slightly
in the western provinces. Colas companies in North America continued to
enjoy good levels of business.
Financial information 3rd quarter 2009
In Europe, the subsidiaries in central Europe have been faced with a
brutal plunge in public investment, a budget variable for countries that have
been hit hard by the global crisis. Elsewhere in Europe, business in
Belgium and Ireland did not benefit from nationwide stimulus plans. In
Great Britain, Colas Ltd has progressed, boosted by a series of long-term
maintenance contracts.
Lastly, the impact of the drop of bitumen prices on revenue at the
end of September 2009 was stronger than expected, at 200 million euros.
Profitability during the 3rd quarter 2009 should be at least as
good if not better than that posted during the 3rd quarter 2008.
In light of all currently available data, revenue at the end of
December 2009 could show a 9% drop compared to the 12.8 billion euros
recorded at the end of December 2008.
Work-on-hand at the end of September 2009 totaled 6.7 billion euros,
a 5% rise compared to work-on-hand at the end of September 2008.
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