Sharp increase in revenue: + 9.3% Operating profit: € 136 Million (+ € 62 million) Net profit (Group share): € 117 Million (+ € 47 million)
The Board of Directors of Colas, chaired by Mr. Alain Dupont, met on August 29, 2007 to examine the half-year statement of accounts as of June 30, 2007 and the outlook for the current year.
Consolidated key figures
As of June 30, 2007, consolidated revenue at the Colas Group rose 9.3%, totaling 4.925 billion euros, compared to 4.507 billion euros at the end of June 2006. Business at Spie Rail was not consolidated in the profit and loss accounts at the end of June 2007 due the fact that the shares were acquired only on May 30, 2007.
Only Spie Rail’s statement as of May 31, 2007 was included in Colas’ consolidated statement
of accounts on June 30, 2007.
Revenue in France at the end of June 2007 amounted to 3.15 billion euros, a 10.9% increase compared to the end of June 2006.
In mainland France, the subsidiaries specialized in road construction carried out a hefty volume of work, which led to a 9.6% rise in their revenue, thanks to a mild winter and despite very rainy, unfavorable weather in May and June. The road sector remains growth-oriented, backed by investments from both local public authorities for the construction and maintenance of road networks, city streets and urban development projects, highway
contracts, public transport programs (tramways) and from the private sector. Business in all non road-related lines of business including rail, waterproofing, pipes and mains, drilling, civil engineering, and road safety and signaling enjoyed growth at 13.1%.
In the French overseas departments, revenue is up 20% thanks to major contracts in Reunion Island, French Guiana, Martinique and Guadeloupe.
In the Group’s international units and French overseas territories, revenue totaled 1.77 billion euros, a 6.5% increase compared to June 30, 2006. North America improved its figures by 6.2% with identical exchange rates and scope of business. In the United States, work-on-hand is high, thanks to public and private (industrial and retail) sector contracts. In Canada, despite a late start-up, the market is buoyant, boosted by the dynamic Canadian economy, especially in the west. In Europe, revenue rose 6.3% with variations amongst the regions. Other business in Africa (Morocco), the Indian Ocean (Madagascar) and Asia have also posted strong growth.
Net profit (Group share) as of June 30, 2007:
The Group share of net profit reached 117 million euros, compared to 70 million on June 30, 2006, thus reflecting the good performance of the subsidiaries during the first half-year.
Nomination of a Deputy Managing Director:
The Board of Directors has decided to appoint Hervé Le Bouc as Deputy Managing
The year has gotten off to a good start and all of Colas’ businesses have recorded an excellent first half-year. Given that Colas’ work-on-hand at the end of July 2007 was up 7% compared to the end of July 2006 and in light of all currently available data, in particular the depreciation of the dollar against the euro, revenue targets for 2007 have now been set at more than 11.4 billion euros, with an additional increase in net profit.