PR Newswire/Les Echos/
? Boulogne, August 27, 2008
PRESS RELEASE
Strong growth in business during first half-year 2008
Revenue: € 5.6 billion (+ 14.3%)
Operating profit: € 156 million (+ € 20 million)
Net profit (Group share): € 130 million (+ € 13 million)
The Board of Directors of Colas, chaired by Mr. Hervé Le Bouc, met on August 27
, 2008 to examine the half-year statement of accounts and the outlook for the
current year.
Consolidated key figures
1st half-year 1st half-year Variation Reference
In millions of euros
2008 2007 1st half-year full year
2007
Consolidated revenue 5,631 4,925 + 14.3 % 11,673
Operating profit 156 136 + € 20 M 635
Consolidated net profit 130 117 + € 13 M 474
(Group share)
As of June 30, 2008, consolidated revenue at the Colas Group totaled 5.631
billion euros, a 14.3% rise from the 4.925 billion euros recorded the end of
June 2007 (+10.3% with identical exchange rates and scope of business). The
first half-year of 2008 thus reflected strong growth in practically all of the
Group's businesses, even if sharp raw material price hikes, in particular
bitumen and energy, did played a role in the increase.
In France:
Revenue at the end of June 2008 amounted to 3.54 billion euros, up 12.3% (
8.3% with unchanged scope of business) compared to the end of June 2007. In
Mainland France, the road sector remained buoyant (+7%) and other road related
activities enjoyed strong growth (+30%), due mainly to the railway and
waterproofing businesses. In the French overseas departments, revenue rose 10%,
boosted for the most part by the Reunion Island's building, public works and
civil engineering sectors.
International:
At the end of June 2008, revenue in the Group's international units and
French overseas territories totaled 2.1 billion euros, an increase of nearly 18
% compared to June 30, 2007 (+14% with identical exchange rates and scope of
business).
In Europe, revenue was up 27% (17% with identical exchange rates and
scope of business) at 993 million euros, thanks in particular to central
Europe's strong road activity and to the railway sector.
North America posted 637 million euros in revenue, a drop of nearly 10%
essentially attributable to the weakening of the dollar vs. the euro. With
identical exchange rates and scope of business, revenue figures were
practically the same as those recorded at the end of June 2007 (-0.7%). The
American subsidiaries held up well against a less buoyant backdrop whereas the
Canadian companies continued to benefit from an upbeat market.
Revenue in the rest of the world amounted to 464 million euros, a 60%
increase (42% with identical exchange rates and scope of business), thanks
notably to subsidiaries in Morocco and Madagascar and to the consolidation of
the recently acquired Australian company.
Consolidated net profit (Group share) as of June 30, 2008:
The Group share of net profit reached 130 million euros, compared to 117
million euros on June 30, 2007, thus reflecting the good performance of the
Group's businesses during the first half-year.
Outlook:
Colas enjoyed strong growth during the first half-year 2008. Work-on-hand
at the end of June 2008 amounted to 7.1 billion euros, a 4% rise compared to
the end of June 2007 which was already in itself at a record high level. In
light of the less buoyant, more difficult to forecast economic and financial
environment, and according to all currently available data, revenue for 2008
should total roughly 12.6 billion euros. If there are no further slumps in the
economic environment or unfavorable weather before the end of the year, the
Group share of net profit should improve from the 474 million euros recorded at
the end of December 2007.
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