Eiffage : Earnings, FCF and dividend higher than expected
>2020 results ahead of expectations, excellent cash generation - Eiffage reported better-than-expected 2020 results. Full-year sales were down 10% with -10.6% l-f-l to € 16,321m, with Q4 sales down 0.9% (6% higher than forecast) thanks to contracting activity that was close to 2019 levels (-9.7% l-f-l over the full year). Note that APRR reported revenues down 18.1% (traffic down -24.8%). Full-year EBIT came to € 1,263m (3% above the consensus). In H2, the margin...Eiffage is a construction and concessions group. Co.'s operations are organized into five divisions. The Concessions and PPPs division is engaged in construction and operating of infrastructures under concessions and public private partnerships. Through the Construction division, Co. is engaged in building design and construction, property development and building maintenance. Through the Public works division, Co. is engaged in civil engineering, road construction, infrastructure maintenance and material production. The Energy division specializes in electrical contracting and air conditioning. Through the Metal division, Co. is engaged in metallic construction and services to industry.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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