1 st semester 2018 results. 29 th august 2018

Transcription

1 1 st semester 2018 results 29 th august 2018

2 IFRS 15 norm impacts The IFRS 15 norm Revenue from Contracts with Customers is used by the Group since January 1 st, 2018 according to the lookback methodology by accounting for the cumulative impact of the new norm at the beginning of the 1 st comparative period, ie 1 st January The tables comparing 2017 published numbers to 2017 modified numbers are at the end of this presentation as well as in the semester financial report. 2

3 Highlights Benoît de Ruffray Chairman and Chief Executive Officer

4 France A89 A6 junction Deliveries Halle Boca in Euratlantique neighbourhood - Bordeaux Grand Hôtel-Dieu in Lyon Regeneration of road in place with a vegetable binder Property development : Reservations of 2,250 (+8%) Activity Control of the ongoing major projects Ariane 6 Launch pad in Guyana, Luma Foundation in Arles, DUS - EDF power plants 4

5 France Major projects of the Grand Paris Express : line 16 (Lot 1) and line 14 south (Lot GC03) in 2018, after line 15 south (Lot T2B) in 2017, Eole Order intake and Line 14 north Airbus A350 production hall in Saint-Nazaire Deployment of fiber optic networks 400 kv line between Avelin and Gravelle Recycling of steel slags in Dunkirk steel mill APRR sustained motorway traffic Concessions & PPP Delivery of Metz congress center Preferred candidate for Reims Events Centre Refinancing of the A65 5

6 International - Fixed bases Deliveries Illumination of Beatus-Rhenanus Bridge between Strasbourg and Kehl Control of major projects, Dakar TER (regional express train) Activity Anticipated activity slowdown in offshore wind (Smulders) Growth in infrastructures activities in Germany Strong activity in Spain 6

7 International - Fixed bases Extension of Mecedes-Benz plant in Poland Order intake Concessions & PPP Ampsin-Neuville lock in Belgium Porte de Hal tunnel refit in Brussels Mülheim bridge refurbishment in Germany Hospitals maintenance in Spain Motorway A94 construction in Germany Strong motorway traffic growth in Senegal External growth Closing of 3 significant acquisitions during the semester Kropman (Netherlands) and EDS (Spain) in energy Priora (Switzerland) in construction 7

8 International - Export Deliveries Lomé 4 th Lake in Togo Quay n 7 in Freetown harbour in Sierra Leone Port terminal in Panama Activity Order intake External Growth Félix-Houphouët-Boigny Bridge in Ivory Coast Tema harbour in Ghana Monaco at sea extension Paradise Park solar plant in Jamaica Studies related to the gas terminal for the Tortue field in Senegal Integration of Eiffage Génie Civil marine 8

9 Transverse dynamic Equipment innovations Exoskeletons Bionic gloves Snowkill Mobile recycling workshop Digital tools for use on site Health and Safety Construction site follow up - Contracting Monitoring work performed - Concessions 9

10 Eiffage - June 2018 Revenue M Operating profit M +9.4% +11.2% 7, ,511 6,605 6,497 6, Net profit group share M +25.4% H H H H H H H H H H H H H H H Change in WCR M M (105) Financial net debt M M (501) 12,635 12,234 11,868 11,501 11,000 Order book bn +22% (442) (394) (375) (432) (537) H H H H H H H H H H H H H H H Activity and profit growth - Ongoing debt reduction - Increase in order book 10

11 Outlook 2018 New progress of activity and results* in Contracting and in Concessions *Excluding non-recurring adjustment in deferred tax 11

12 Results by business line and financial results Christian Cassayre Chief Financial Officer

13

14 Revenue (exc, IFRIC 12) BREAKDOWN CONCESSIONS / CONTRACTING ( M) BREAKDOWN BY GEOGRAPHICAL AREA ( M) 6,989 1,296 7,645 1, % +6.4% 7, % 6, % +7.9% +8.4% % 1,584 1, % 5,693 6, % +6.0% 5,522 5, % H H /17 Concessions Contracting 18/17 At constant scope of consolidation and exchange rates H H /17 France Europe excluding France International excluding Europe 14

15 Contracting revenue (exc. IFRIC 12) BREAKDOWN BY DIVISION ( M) CONTRACTING BREAKDOWN BY GEOGRAPHICAL AREA ( M) AND % OF TOTAL 5,693 1,764 6,246 1,835 6, % +6,0% +9.7% 5, (6%) X (3%) +4.0% (0.5)% 1,584 (25%) +24.4% 1,273 (22%) +33.8% 2,152 2, % +11.2% 4,243 (75%) 4,306 (69%) +1.5% 1,777 1, % +6.0% H H /17 18/17 H H /17 Like-for-like Construction Infrastructures Energy Systems France Europe excluding France International excluding Europe 15

16 Operating profit on ordinary activities and margins Growth of operating profit on ordinary activities 11.2% to M 806 (+ M 81) Increase of the operating margin by 10 bps to 10.5% H H M % revenue M % revenue 18/17 Construction % % +3.1% Infrastructures (38) (1.8)% (33) (1.3)% +13.2% Energy Systems % % +15.8% Sub-total Contracting % % +19.3% Concessions % % +10.1% Holding (10) (11) Group total % % +11.2% 16

17 Evolution of the operating margin Continuous growth of the operating profit over 5 years and operating margin at 10.5% % 10.4% 10.5% 8.8% 9.0% H H H H H Operating profit ( M) and margin (%) 17

18 Construction - Activity and results Operating margin stability Revenue up by 4.0% ( (0.5)% lfl) Works - France (5.3)%, Europe (excluding France) +49% (+ 23 % lfl) - Delivery of the Metz congress enter Property development - Reservations of 2,250 units to be compared to 2,080 in 2017 (+8%) - Opening of the Halle Boca in Bordeaux and of the 1 st stage of the Grand Hôtel-Dieu in Lyon Urban development - Lizé neighbourhood in Montigny-lès-Metz, Clamart Grand Canal Significant order intake - Silex² Tower in Lyon, Mercedes-Benz plant in Jawor (Poland) and Ampsin-Neuville lock (Belgium) External growth - Priora (Switzerland) REVENUE ( M) - OPERATING MARGIN ON ORDINARY ACTIVITIES 1,770 1,650 1,729 1,764 1, % 3.7% 3.6% 3.6% 3.5% H H H H H BREAKDOWN OF REVENUE H H H H H Works 84% 82% 81% 81% 80% Property 16% 18% 19% 19% 20% 18

19 Jourdan Corentin Issoire workshop Nogent Baltard urban project 19

20 Infrastructures - Activity and results Increase of the operating margin by 50bps to (1.3)% Revenue up 15.1% (+11.2% lfl) - France +8.0% (+3.6% in Roads activity) - International +28.8% Margin evolution REVENUE ( M) - OPERATING MARGIN ON ORDINARY ACTIVITIES 2,476 - Fierce competitive landscape in France - Increase of the international operations contribution Delivery - A89 A6 junction - 4 th Lomé lake in Togo Significant order intake 2,072 (1.5)% 2,002 1,925 (2.1)% (2.1)% 2,152 (1.8)% (1.3)% - Lines 16.1 and 14 south (Lot GC03) of the Grand Paris Express - Mülheim bridge refurbishment in Cologne H H H H H External Growth - Integration of Eiffage Génie Civil marine - Migné Group (stone quarry and works) is being finalised 20

21 HSBL - Amiens 21

22 Energy Systems - Activity and results Continuous growth of the operating margin by 20bps to 3.4% Revenue up 8.9% (+6% lfl) - France +2.1% - International +31.4% Increased operating margins Activity - Pursued progress across all divisions including the recurring operations - Solar plant in Chile - Strength in the recurring operations Order intake - Optic fibre networks deployment - Paradise Park solar plant in Jamaica External growth - Kropman (Netherlands) and EDS (Spain) REVENUE ( M) - OPERATING MARGIN ON ORDINARY ACTIVITIES 1,935 1,794 1,777 1,554 1, % 3.2% 3.0% 2.8% 2.6% H H H H H

23 Expercité, dynamic bus lane 23

24 APRR - Activity and results Increase of the EBITDA margin by 60bps to 76.0% Revenue (exc. IFRIC 12) up 6.8% Total traffic increase up 4.6%: LV +4.3% and HGV +6.3% - Positive impact of railway service disruption Tariff increase on February 1 st : 2.00% APRR and 2.04% AREA Operating margin progression - Impact of the revenue increase and productivity gains Services improvements - 60% of non stop toll transactions - Modernisation of service station and rest areas - Development of new types of mobility : car sharing car parks, charging stations and dynamic car sharing scheme Pop & Vroom, express bus lane Developments - A89 A6 junction opening - Capex plans execution HGV 16% REVENUE ( M) EBITDA / REVENUE 1,029 1, % 74.9% TRAFFIC TOLL RECEIPTS REVENUE MIX LV 84% HGV 33% 1,116 1,156 1, % LV 67% 75.4% Other 3% 76.0% H H H H H Tolls 97% 24

25 Dedicated bus lane 25

26 Concessions - Activity and results Operating margin up 100bps at 51.3% Revenue including APRR up 7.9% (+8.4% lfl) - APRR: +6.8% at M 1,235 - Motorways concessions (exc. APRR): +12.6% at M 72 - Other concessions and PPPs: +11.6% at M 92 Traffic evolution REVENUE ( M) - OPERATING MARGIN ON ORDINARY ACTIVITIES 1,399 1,115 1,159 1,296 1, % 50.5% 50.3% Motorways Revenue M ( 18/17%) LV Traffic HGV Traffic A65 31 (+10.5%) +5.2% +9.5% Millau Viaduct 20 (+5.0%) +0.1% +3.4% Autoroute de l Avenir 21 (+24.6%) +31.4% of transactions TOTAL 72 (+12.6%) Operating margin +10.2% at M APRR and Eiffarie: +9.7% at M Other concessions and PPPs: +14.0% at M 88 *revenue net of collections for third parties 45.9% 46.9% H H H H H Portfolio transaction Preferred candidate for Reims Events Centre In service launch: Two colleges in Var and University of Nancy Refinancing of A65 ( M 825) in July

27 Volleyball Nations League Pierre Mauroy Stadium 27

28 Consolidated income statement Increase in the operating profit on ordinary activities of 11.2% and of the net profit (group share) of 25.4% in M H H Δ 18/17 Revenue (1) 6,989 7, % Operating profit on ordinary activities % (% of revenue) (10.4 %) (10.5 %) Other operating income and expenses (24) (20) Operating income % Cost of net debt (247) (223) (9.7)% Other financial income and expenses (7) (12) Net financial expenses (254) (235) Share of profit of associates 2 4 Income tax (142) (179) Net profit Minority interests Net profit (group share) % (1) Exc IFRIC 12 28

29 Simplified contracted balance sheet in M 30/06/ /06/2018 Assets 18,416 18,126 Non current assets Concessions 13,963 13,328 Non current assets Holding & Contracting 4,453 4,798 Equity and Liabilities 18,416 18,126 Capital and reserves 4,678 5,331 Capital attributable to the Group 3,892 4,429 Minority interests Financial net debt exc. Mtm of CNA debt and the swaps 11,501 11,000 Current liabilities Non current liabilities incl. Mtm of the CNA debt and the swaps 1,598 1,549 29

30 Financial net debt evolution ( M) Free Cash flow ( 47 ) ,375 ( 1, 126 ) (1) , Holding & Contracting Concessions Investments Concessions Debt repayment Acquisitions & disposals Variations without flows of funds Dividends & Capital transactions EBITDA Δ WCR o/w Holding & Contracting M (536) o/w Concessions M (1) Interest & taxes paid CAPEX 219 Operation 2 DFN 31/12/2017* DFN 30/06/2018* * Exc. Mtm of the CNA debt and the swaps: M 226 M 138 H figures (1,069) (22) 23 (117) (24) (26)

31 Financial net debt structure ( M) 31 th December 30 June Total (11,591) (11,213) (10,375) (11,868) (11,501) (11,000) FND Holding & Contracting (88) FND Concessions without recourse (11,925) (11,705) (11,279) (11,780) (11,577) (11,095) 31/12/15 31/12/16 31/12/17 30/06/16 30/06/17 30/06/18 Exc. Mtm of the CNA debt and the swaps: M 603 M 428 M 226 M 568 M 325 M

32 Contracting order book Contracting order book at 14.4 bn up 22% over one year ORDER BOOK ( bn) AND EQUIVALENT NUMBER OF MONTHS OF THE CONTRACTING TURNOVER BREAKDOWN BY DIVISION ( bn) 12 MONTHS VARIATIONS % +14% months 12.6 months 12.0 months 12.6 months 13.4 months % /06/17 30/06/18 0% 18/17 30/06/16 31/12/16 30/06/17 31/12/17 30/06/18 Construction Infrastructures Energy Systems 32

33 Appendices

34 Group s shareholding SHAREHOLDERS AT 31/12/2017 (98.0M Shares) SHAREHOLDERS AT 30/06/2018 (98.0M Shares) BlackRock 10.1% Treasure shares 1.9% Free Float 69.8% Treasure shares 0.3% BlackRock 10.3% Free Float 73.0% Employees shareholding 18.2% Employees shareholding 16.4% 34

35 Revenue (exc. IFRIC 12) REVENUE BREAKDOWN ( M) / VARIATION REVENUE BREAKDOWN IN EUROPE EXCLUDING FRANCE ( M) / VARIATION France 5,684 / +3% Europe Excluding France 1,584 / +24% Spain 246 / +45% UK 114 / ns Switzerland 91 / ns Poland 54 / (2)% Germany 483 / +28% Other 64 International Excluding Europe 377 / +94% Benelux 532 / (9)% 35

36 Consolidated balance sheet - Assets in M 30/06/ /12/ /06/2018 Property, plant and equipment 1,599 1,649 1,690 Investment property Fixed assets held under concessions 11,270 11,181 11,044 Goodwill on acquisition 2,949 2,995 3,214 Other intangible assets Investment accounted for using the equity method Financial assets on service concessions non-current 2,029 1,680 1,644 Other financial assets Deferred tax assets Total non current assets 18,718 18,286 18,397 Inventories Trade receivables 4,559 4,977 5,406 Current tax receivables Financial assets on service concessions current Other current assets 1,384 1,287 1,458 Cash and cash equivalent 3,317 4,537 3,100 Asset held for sale Total current assets 10,321 11,740 10,977 Total assets 29,039 30,026 29,374 36

37 Consolidated balance sheet - Equity and liabilities in M 30/06/ /12/ /06/2018 Share capital Consolidated reserves 3,517 3,509 3,954 Profit & losses directly accounted for in equity (190) (159) (134) Net profit for the period Total capital and reserves, attributable to the Group 3,892 4,290 4,429 Minority interests Total capital and reserves 4,678 5,137 5,331 Long-term debt 11,788 12,119 10,925 Deferred tax liabilities Non current provisions Other non current liabilities Total non current liabilities 13,524 13,775 12,605 Trade creditors 3,162 3,278 3,512 Short-term loans and other borrowings 1,693 1,428 2,001 Non current borrowings due within one year 1,661 1,590 1,312 Current tax liabilities Current provisions Other creditors and accruals 3,688 4,118 3,961 Liabilities held for sale Total current liabilities 10,837 11,114 11,438 Total liabilities and shareholder s equity 29,039 30,026 29,374 37

38 Consolidated income statement in M H H Revenue (1) 7,134 15,368 7,800 Other income Raw materials and consumables used (1,299) (2,803) (1,388) Staff costs (1,663) (3,287) (1,744) Other expenses (2,931) (6,182) (3,257) Taxes other than corporate tax (197) (460) (207) Amortisation and depreciation expense (411) (836) (435) Provisions (18) (101) 2 Changes in inventories 41 (35) (7) Other operating income and expenses Operating profit on ordinary activities 725 1, Other operating income and expenses (24) (56) (20) Operating profit 701 1, Income from cash and cash equivalent Cost of gross debt (255) (506) (229) Net finance costs (247) (490) (223) Other financial income (expenses) (7) (20) (12) Share of profit (loss) of associates Corporation tax (142) (336) (179) Net profit Attributable to the Group Minority interests (1) Including IFRIC 12 38

39 Consolidated cash flow statement In M H H Cash flow generated by operations 691 1, Change in working capital in operating activities (432) (99) (537) Other variations (1) (283) (351) (200) Cash flow from operations (26) 1,229 (2) Cash flow from investments (380) (599) (219) Free cash flow (406) 630 (221) Acquisitions & disposals (23) 1 (161) Dividends (145) (265) (328) Change in equity Cash flow from equity and others 1 (118) (405) Change in net bank debt (405) 512 (626) Change without flow of funds Change in financial net debt (2) (288) 838 (625) Of which Concessions Of which Contracting and Holding (416) 412 (809) (1) Difference between paid and accounted for interests and taxes (2) Exc. Mtm of the CNA debt and the swaps

40 Financial expenses and results In M H H Concessions (245) (489) (220) Of which: APRR (88) (181) (76) Eiffarie & Financière Eiffarie (88) (173) (83) Financière Eiffarie Group (176) (354) (159) A65 - A liénor (8) (17) (8) Millau Viaduct (11) (25) (14) Autoroute de l Avenir (2) (5) (3) BPL HSRL (31) (60) (26) Grande Arche refurbishment (2) (5) (3) Pierre Mauroy stadium and dependencies (7) (15) (6) Other PPPs and concessions (8) (8) (1) Holding & Contracting (2) (1) (3) Cost of net debt (247) (490) (223) Other financial income and expenses (7) (20) (12) Financial result (254) (511) (235) 40

41 Concession financial net debt breakdown Non recourse debt raised in dedicated SPVs for bn11.1 (*) NON RECOURSE FND BREAKDOWN ( M) NON RECOURSE FND STRUCTURE ( M) Eiffarie 1,210 APRR 7,048 APRR and Eiffarie 8,258 Millau Viaduct 564 Autoroute de l'avenir (Senegal) 18 A Other Motorway concessions 1,363 Education & Others 152 Grande Arche 162 Pierre Mauroy Stadium 196 PPPs 1,474 BPL 964 (*) Exc. Mtm of the CNA debt and the concessions swaps: M

42 Contracts won by Eiffage as at 29 August 2018 as part of the Grand Paris 42

43 APRR & Eiffarie - Financial net debt structure ( M) 9,062 8,705 8,419 8,766 8, ,246 1,339 1,276 1,219 1,297 8,258 1,210 Macquarie quasi equity Eiffarie 7,420 7,256 7,143 7,308 7,209 7,048 APRR 31/12/ /12/ /12/ /06/ /06/ /06/2018 Exc. Mtm of the CNA debt and the swaps M 431 M 262 M 95 M 356 M 177 M 11 43

44 APRR - Gross debt profile Debt profile as at 30/06/2018 ( M) * EMTN bonds details Amount in M Coupon Maturity Yield on 30/06/ % 21/01/2019 (0.19)% 500 Eur3m+0.75% 31/03/2019 (0.16)% 500 Eur3m+070% 03/01/2020 (0.14)% % 16/01/2020 (0.01)% % 15/01/ % 53 RPI indexed 25/01/2021 / % 15/01/ % % 15/01/ % % 09/01/ % % 06/01/ % % 06/01/ % % 13/01/ % 100 RPI indexed 05/04/2032 / % 1.66% * EMTN programme EIB 44

45 APRR & AREA - Tariff formulae Annual tariff increase excluding the motorway investment plan Tariff increase 1st of February % x 1.02% 70% x I* 70% x I* 70% x I* 70% x I* 70% x I* APRR 2.00% 1.13% 0.25% 0.25% 0.25% 0.25% 0.25% AREA 2.04% 1.17% 0.26% 0.26% 0.26% 0.26% 0.26% management contract Includes compensation for the Increase in the land tax rates since 2013 Absent of new management contract Includes compensation for the tariff freeze of 2015 *I = Inflation 45

46 APRR & AREA Management contracts M 500 of capex covering growth and modernization of the network Major infrastructure projects - Construction of the A89-A6 junction north of Lyon - A43 / A41 / high speed urban road of Chambéry - Three widenings on the A6 at Auxerre (southbound), on the A71 north of Clermont-Ferrand (northbound), and on the A41 north of Annecy (in both directions) Operating investments - Renovation of rest areas - Environmental protection - Improvement of service and security 46

47 APRR & AREA - Stimulus plan M 720 of Capex covering growth and modernization of the network Concessions contracts lengthening APRR +25 months, AREA +45 months Major infrastructure projects Reconfiguration of three motorways interchanges: - A36 / N1019 / D437 in Sevenans - A6 / A406 / N79 (RCEA) interchange near Mâcon (2 km length extension) - A71 / N79 (RCEA) interchange near Montmarault (5 km length extension) Management of two town crossings infrastructures: - Widening (2X3) of A75 between Clermont-Ferrand and Le Crest (11 km length extension) - Reconstruction of the A48/A480 junction between Saint-Egrève and Claix (15 km length extension) 47

48 120 APRR - Traffic evolution LV Total HGV Q07 2Q08 4Q08 2Q09 4Q09 2Q10 4Q10 2Q11 4Q11 2Q12 4Q12 2Q13 4Q13 2Q14 4Q14 2Q15 4Q15 2Q16 4Q16 2Q17 4Q17 2Q18 Km travelled, 12 months rolling average, rebased to Q

49 PPP life cycle Eiffage Financial investor Value Financial structuring PPP contracts signing 1 3 to 6 1 to 2 15 to 20 Length in years TENDER CONSTRUCTION / CAPEX OPERATION RAMP UP OPERATION Tender submission 5% - 10% Equity 90% - 95% Debt Construction contract Maintenance contract Sale of equity Preservation of O&M contract Debt deconsolidation 49

50 Assets in concession Project Type Country End of concession Status % Shares Consolidation method APRR & AREA Toll Concession FR 2035/2036 Operational 50% + 1 Full consolidation Millau viaduct Toll Concession FR 2079 Operational 51.0% Full consolidation A65 A liénor Toll Concession FR 2067 Operational 65.0% Full consolidation A41 - Adélac Toll Concession FR 2060 Operational 49.9% Equity method Prado South Tunnel Toll Concession FR 2054 Operational 41.5% Equity method Prado Carénage Tunnel Toll Concession FR 2025 Operational 32.9% Equity method Autoroute de l Avenir Toll Concession SEN 2040 Operational 100.0% Full consolidation Bretagne-Pays de la Loire HSRL PPP Railway FR 2036 Operational 100.0% Full consolidation Grande Arche refurbishment PPP FR 2034 Operational 100.0% Full consolidation Pierre Mauroy stadium and dependencies PPP FR 2043 Operational 100.0% Full consolidation Nancy university PPP FR 2043 Under construction 100.0% Full consolidation Metz university PPP FR 2042 Operational 100.0% Full consolidation Lille university PPP FR 2041 Operational 100.0% Full consolidation Aix-en-Provence university PPP FR 2042 Operational 100.0% Full consolidation Kreis Lippe road network PPP AL 2033 Operational 100.0% Full consolidation Le Plessis-Robinson (92) covered market PPP FR 2030 Operational 100.0% Full consolidation Var colleges PPP FR 2043 Operational 100.0% Full consolidation A94 PPP AL 2046 Under construction 33.3% Equity method Grenoble university PPP FR 2041 Operational 19.9% Not consolidated Prisons Lot 1 PPP FR 2037 Operational 19.9% Not consolidated Région Centre high school CPE FR 2025 Operational 19.0% Not consolidated Marche-en-Famenne prison PPP BEL 2038 Operational 18.4% Not consolidated Ten Merina Solar Plant SEN 2042 Under construction 15.0% Not consolidated Jean-Zay Lorraine high school PPP FR 2034 Operational 15.0% Not consolidated Seine-St-Denis colleges lots 1 & 3 PPP FR 2034 Operational 15.0% Not consolidated Amiens Aquatic center Concession FR 2042 Under construction 15.0% Not consolidated Brittany university PPP FR 2038 Operational 10.0% Not consolidated Huatacondo Solar Plant CHILE 2047 Under construction 10.0% Not consolidated 50

51 Assets in concession Carrying value of assets held under concession ( M)* 30/06/ /12/ /06/2018 APRR & AREA 10,147 10,036 9,900 A65 A liénor A41 - Adélac Millau viaduct Prado Carénage Tunnel Prado South Tunnel Autoroute de l Avenir HSR Bretagne-Pays de la Loire 1,130 1,112 1,096 Grande Arche refurbishment Pierre Mauroy stadium and dependencies Nancy university Metz university Lille university Aix-en-Provence university Le Plessis-Robinson (92) covered market Var colleges Grenoble university Jean-Zay Lorraine high school Seine-St-Denis colleges lots 1 & Others concessions & PPP National Police HQ Norscut LGV Perpignan-Figueras Total 13,964 13,497 13,328 * Fully consolidated: 100% of asset/ Equity method: Group share 51

52 Revenue of the 1 st semester ( M) in M H H Actual structure Variations At constant scope of consolidation and exchange rates (lfl*) CONSTRUCTION 1,764 1, % (0.5)% Incl. property INFRASTRUCTURES 2,152 2, % +10.9% ENERGY SYSTEMS 1,777 1, % + 6.0% TOTAL CONTRACTING 5,693 6, % +6.0% CONCESSIONS (exc. IFRIC 12) 1,296 1, % +8.4% TOTAL GROUP (exc. IFRIC 12) 6,989 7, % +6.4% Dont : France 5,522 5, % +2.5% International 1,467 1, % +20.5% Europe excluding France 1,273 1, % +14.5% Excluding Europe % +59.6% Contracting revenue from Concessions (IFRIC 12) n.s. 52

53 Revenue of the 2 nd quarter in M H H Variations CONSTRUCTION 968 1, % Incl. property INFRASTRUCTURES 1,216 1, % ENERGY SYSTEMS 920 1, % TOTAL CONTRACTING 3,104 3, % CONCESSIONS (exc. IFRIC 12) % TOTAL GROUP (exc. IFRIC 12) 3,788 4, % Contracting revenue from Concessions (IFRIC 12) n.s. 53

54 IFRS 15: Revenue and Operating profit at 30 th June 2017 Revenue M 6,993 6,989 1,761 1,764 2,152 2,152 1,778 1,777 1,302 1,296 H Published H Restated Concessions Energy Systems Infrastructures Construction Operating profit H published H restated M % CA M % CA Construction % % Infrastructures (39) (1.8)% (38) (1.8)% Energy Systems % % Sub-total Contracting % % Concessions % % Holding (10) (10) Total Group % % 54

55 IFRS 15: Revenue and operating profit at 31 st December 2017 Revenue M 14,979 15,081 3,750 3,868 4,704 4,704 3,783 3,782 2,739 2, published 2017 restated Construction Infrastructures Energy Systems Concessions Operating profit H published H restated M % CA M % CA Construction % % Infrastructures % % Energy Systems % % Sub-total Contracting % % Concessions 1, % 1, % Holding (18) (18) Total Group 1, % 1, % 55

56 IFRS 15 Impact Order book 13.0 Contracting order book ( bn) Property development and concessions order book ( bn) Mds H published H restated 31/12/2017 published 31/12/17 restated Real Estate Concessions H published H1 restated 31/12/17 published 31/12/17 restated Construction Infrastructures Energy Systems 56

57 Investor relations contact and Agenda Xavier Ombrédanne Phone: +33 (0) Register to receive press release at Eiffage APRR Quarterly information and turnover for the 3 th quarter Quarterly information and turnover for the 4 th quarter ND 2018 annual results and analysts presentation Quarterly information and turnover for the 1 st quarter General Meeting of shareholders Quarterly information and turnover for the 1 st quarter Quarterly information and turnover for the 2 nd quarter half-year results and Analysts presentation Quarterly information and turnover for the 3 rd quarter Black out periods are starting 15 days before quarterly publications and 30 days before the annual and semi annual publications 57

58 Disclaimer This presentation may contain forward-looking statements and information about the financial situation, operating results, activities and development strategy of Eiffage. These statements and this information are based on assumptions that may prove incorrect and that are subject to major risks and uncertainties. This information is pertinent only on the day it was formulated. Eiffage assumes no responsibility to update this information or to revise the statements on becoming privy to new information or because of future or other events taking place, subject to applicable regulations in this matter. Additional information on factors that could influence the financial results of Eiffage are contained in the document filed by the Group with the French financial markets supervisor (Autorité des Marchés Financiers - AMF), which is available on the Group s website or on request from the company s registered office. 58