Colas: reports first-quarter loss E300m

(CercleFinance.com) - Colas has reported Q1 2020 consolidated sales of 2.
0 billion euro, down 14% y-o-y (-10% at constant consolidation scope and exchange rates).

The group made about half of this figure in France (1.0 billion euros, down 24%, and -17% LFL). Meanwhile, sales were flat outside France, at 0.9 billion euros.

It made a Q1 2020 underlying operating loss of 370 million euros, 72 million euros lower than in Q1 2019. Meanwhile, it reported a net loss, group share of 300 million euros, compared to a loss of 227 million euros at the end of March 2019.

However, Colas' order backlog at the end of March 2020 remained high, at 10 billion euros, up 3%.

The market is clearly not happy with these results, with the Colas share down almost 4% in late morning trading on Thursday.



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