Eiffage: H1 results hit by Covid-19
(CercleFinance.com) - Announced on Wednesday evening, Eiffage's H1 results included a 19.
6% drop in sales to 8.54 billion euros.
The group saw a "Major impact of the Covid-19 pandemic on the half-year: sharp fall in revenues and results, in Contracting and Concessions".
Eiffage's underlying operating profit reached 262 million euros, down 68.7%, for an operating margin of 3.8% compared to 9.8% in June 2019, while it made a net loss of 8 million euros (vs. a profit of 290 million euros in June 2019).
"For the year as a whole, Eiffage anticipates a marked decline in its business and results, which will however recover significantly in the second half of the year. With an all-time record order book, a solid balance sheet and strengthened liquidity, the Group is confident of its ability to weather the current health and economic crisis and to invest in its sustainable growth," Eiffage added.
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6% drop in sales to 8.54 billion euros.
The group saw a "Major impact of the Covid-19 pandemic on the half-year: sharp fall in revenues and results, in Contracting and Concessions".
Eiffage's underlying operating profit reached 262 million euros, down 68.7%, for an operating margin of 3.8% compared to 9.8% in June 2019, while it made a net loss of 8 million euros (vs. a profit of 290 million euros in June 2019).
"For the year as a whole, Eiffage anticipates a marked decline in its business and results, which will however recover significantly in the second half of the year. With an all-time record order book, a solid balance sheet and strengthened liquidity, the Group is confident of its ability to weather the current health and economic crisis and to invest in its sustainable growth," Eiffage added.
Copyright (c) 2020 CercleFinance.com. All rights reserved.