PR Newswire/Les Echos/
Boulogne, February 21, 2008
Press Release
COLAS in 2007
Strong growth in business activity (+8.9%) and net profit (+19.7%)
REVENUE: 11.7 billion euros
NET PROFIT (Group share): 474 million euros
PROPOSED DIVIDEND: 8.50 euros per share (+33%)
The Board of Directors of Colas, chaired by Mr. Hervé Le Bouc, met on
February 21, 2008 to finalize the financial statements for fiscal 2007.
Consolidated key figures - in millions of euros
Variation
2007 2006 2007/2006
11,673 10,717 + 8.9%
Revenue 635 528 + 20.3%
Profit from operations 481 402 + 19.7 %
Net profit 474 396 + 19.7%
Net profit (Group share) 1,099 942 + 16.7%
Cash flow from operations
Revenue: 11.7 billion euros (+8.9%)
In 2007, consolidated revenue rose 8.9% to 11.67 billion euros, compared to 10
.72 billion euros in 2006. The breakdown of business figures shows that
mainland France recorded 6.5 billion euros and international business units,
including French overseas departments and territories, posted 5.2 billion euros
. Europe (including France) and North America represented 94.4% of total Group
revenue. With identical exchange rates and comparable business structures, the
increase in revenue amounted to 6.9%
The Group thus enjoyed sharp growth, spurred by buoyant markets, work-on-hand
that increased throughout the year and favorable weather conditions.
Infrastructure upgrading and maintenance needs remained high in every region in
which the Group operates.
In mainland France, where the road business represents 77% of total activity
, revenue was up 10.4% (nearly 8% with comparable business structures). The
Group's railway activity has made strong headway with the acquisition of Spie
Rail, which was only consolidated over a 7-month period. Business in French
overseas departments increased 16%.
In the Group's international business units and French overseas territories
, revenue rose 6.2% (4.7% with identical exchange rates and business structures
). In Europe, growth of 5.5% was recorded, thus reflecting the temporary
slowdown in business in Hungary, which was offset by other subsidiaries and by
external growth. North America had an excellent year, posting a 6.9% increase
in revenue with identical exchange rates and business structures. Elsewhere
around the world, the Group's subsidiaries in Morocco benefited from a dynamic
economy and in Madagascar, a number of major construction projects (roads and
mining sites) were launched.
Net profit (Group share) up 20% at 474 million euros
Almost every Group subsidiary performed as well as if not better than the
previous year. Profit from operations totaled 635 million euros, a 20% increase
. The Group's share of net profit rose 20% to 474 million euros, compared to
396 million euros in 2006. Consolidated net profit was on the rise at 481
million euros compared to 402 million in 2006. For the first time ever, the
Group's cash flow from operations has gone over the one billion-euro mark (1,
099 million), enabling the Group to finance an extensive, forward-looking
investment program totaling 965 million euros (net investments).
Net profit at Colas S.A.
Net profit for parent company Colas SA amounted to 278.5 million euros,
compared to 232.5 million in 2006 (+19.8%).
Dividend 2007
The Board of Directors has decided to put forward a proposal to the General
Meeting of Shareholders on April 16, 2008 to pay out a net dividend of 8.50
euros per share for fiscal 2007, a 33% increase compared to the dividend paid
out for fiscal 2006 at 6.40 euros. This reflects the Group's confidence in its
prospects for growth in the future.
Board of Directors
The Board of Directors will ask that the General Meeting of Shareholders on
April 16, 2008 approve the cooptation of Mr. Jean-François Guillemin. Mr.
Philippe Marien will become the permanent representative of the Bouygues company
.
Outlook
In 2007, Colas recorded sizeable growth in its business figures and a sharp
rise in profit and investment. Work-on-hand at the end of January 2008 amounted
to nearly 7 billion euros, a 16% rise (+22% in mainland France and +10% in
French overseas departments-territories and international business units). A
breakdown of work-on-hand shows an even spread of business. In France and
around the world, the need for urban development and transport infrastructure
remains high. Even if, in the first months of 2008, greater economic and
financial uncertainty and the vagaries of the climate to which Colas'
businesses are sensitive encourage a certain degree of caution, activity should
get off to a strong start in 2008. No indicator in any of the Group's
activities at this stage suggests a forecast of reduced business, including
North America. Depending on the outcome of certain acquisition projects
currently under consideration, some of them at an advanced stage, and on the
confirmation of market trends during the second half-year, Colas, pursuing its
profitable growth strategy, should enjoy further progress in 2008. The Group
has set its first target for revenue in 2008 at 12.5 billion euros.
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