Full Year 2024 Eiffage SA Earnings Call Transcript
Key Points
- Eiffage SA (EFGSY) reported a strong year in 2024 with a 7.3% revenue growth, driven by both construction and concessions.
- The company achieved a record order book, boosted by major contracts such as the EPR2 and Greater Paris Express, enhancing visibility in Europe.
- Eiffage SA (EFGSY) demonstrated strong cash flow generation, supported by a growing order book and efficient working capital management.
- The Energy Systems division is expected to post revenue close to EUR8 billion with an operating margin of up to 6% in 2025.
- The company plans to recommend a dividend of EUR4.7 per share, up 15%, with a future payout policy of 45% of net income group share.
- The company faces challenges in the housing market, with a decline in the property market and uncertainty expected to continue into 2025.
- Eiffage SA (EFGSY) is impacted by a new motorway tax, which has affected operating profitability and net income growth.
- There is ongoing debate and criticism over the motorway concession business model, which has led to a new motorway tax.
- The company anticipates a decline in net income after the exceptional contribution from large companies in France in 2024.
- Eiffage SA (EFGSY) faces challenges in integrating recent acquisitions, particularly in Germany, which may impact short-term growth.
(interpreted) Good evening to you all. Thanks for joining us at this meeting presenting the 2024 annual results of Eiffage. I'd also like to acknowledge Board members, company executives who joined us this evening.
Allow me, for that matter, to begin by warmly thanking Philippe Nourry, who, having spent 2.5 years in the company, will be retiring at the end of this week. After a career in our road businesses until he became General Manager of [ronal]. He was chosen as senior executive by Jean-Francois Roverato to head up APRR and AREA in 2006 after the privatization. He accompanied the businesses of motorway concession as up to the present day.
As you know, Philippe always went to great pains to give detailed answers to your first traditional question on traffic forecast, and I'm sure you'll miss his very detailed and loquacious answers. Camille Bonenfant-Jeanneney succeeded him yesterday as President of Motorway Concession. She's with us this evening. Camille,
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