Event in Progress:
Discover the latest content that has just been published on Research Tree
Eiffage released a positive Q3 trading update, with group revenue meeting the market’s expectations. The contracting sector showed strong demand, resulting in a backlog equivalent to 13.1 months of activity, primarily driven by Infrastructure and Energy System. However, the Construction segment continued to face challenges. On the other hand, the Concession segment continued to benefit from increased traffic and tariff hikes. As a result, Eiffage’s management reaffirmed the guidance and continue
Companies: Eiffage (FGR:EPA)Eiffage SA (FGR:PAR)
AlphaValue
Eiffage’s H1 trading update was mixed, with revenue aligning with expectations and EBIT slightly below the market’s forecast. The Concession segment remains strong due to increased traffic and tariffs. In Contracting, the robust performance in metallic construction, renovation, and public works offset a notable decline in property development and civil engineering. Positive momentum persists, evident from a backlog representing 13.4 months of activity.
Eiffage published a good Q1 trading update, with group revenue reaching €4.9bn, up by 13% yoy, driven by growth in all segments. The contracting business experienced good demand momentum, with the backlog equivalent to 13.6 months of activity. The Eiffage management reiterated its guidance and expects further growth in both contracting and concession revenue.
Eiffage has published solid results for FY22, with growth in all business lines. Contracting was up +6.7% lfl driven by the European entities (+23.3%) and Concessions (+10.4%) supported by the recovery in traffic. The EBIT recorded is higher than the 2019 level and enabled the group to achieve a margin of 10.9% (+60bp). Eiffage has reached a record level in its order book at €18.5bn, with orders significantly focused on the energy transition.
There was no significant new information in this trading update. Both traffic (motorways) and sales figures were in line with our expectations and we have left our estimates unchanged for FY22. For the full year, Eiffage has re-iterated its guidance of growth in revenue and results for both Contracting and Concessions, well above 2019 levels.
Eiffage published a good set of results with activity above 2019’s level across all divisions. The top-line growth was mainly driven by the energy business and the 36% increase in EBIT was driven by significant traffic growth in the concessions. For the full year, Eiffage expects strong top-line growth accompanied by a slight margin improvement in the concession business and margin resilience in the contracting businesses.
Eiffage published good figures in its Q1 trading update. Group revenue stood at €4.4bn, +10% yoy. The growth was driven primarily by APRR, which saw sales growth of 23%. Demand momentum in contracting business is strong, with the backlog equivalent to 13 months of activities. Management re-iterated its guidance, which is in line with our estimates. Hence, we will not make any changes to our model.
Eiffage announced good FY21 results, beating the consensus and our expectations. Revenue was up by 15%, with contracting activities up by 14.3% and concessions by 17%. Eiffage has some major and promising projects in its pipeline which should support its contracting business in the medium term. Additionally, it has proposed a dividend payment of €3.1/share, which is higher than anticipated and therefore comes as a positive surprise.
There was no significant new information in this trading update. Both traffic (motorways) and sales figures were in line with our expectations and saw similar trends to Vinci. Eiffage expects operating profit to be slightly lower than that in FY19, but net profit to be in line with FY19, which is above our current estimate. As a result, we will revise our estimates upwards.
Eiffage published a good set of results with top-line figures even above 2019’s level. The growth was mainly driven by the energy and infrastructure businesses, accompanied by a partial recovery in concessions. The group expects the contracting activities to be slightly above 2019’s level by the end of the year and has also confirmed its interest in expanding its energy business via Engie’s Equans.
Eiffage has published its results which were above our estimates. Revenues were down by 10%, with contracting activities down by 9.5% and concessions by 21%. Eiffage has some major and promising projects in its pipeline which would support its contracting business in the medium term. Additionally, it has proposed a dividend payment of €3/share, which is higher than anticipated and therefore comes as a positive surprise.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Eiffage. We currently have 24 research reports from 3 professional analysts.
Companies: FOG PHC FEN BBSN ELIX
Cavendish
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-
Companies: Headlam Group plc
Edison
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
SP Angel
Companies: James Latham Plc
Companies: Severfield Plc
Liberum
Companies: Gattaca plc
Quadrise (QED LN) has provided an update on its Utah project with Valkor. Valkor’s partner (Heavy Sweet Oil LLC) has received funding and approval to commence drilling enabling production of 20-40bopd of heavy sweet oil providing QED with samples for production of test scale quantities of MSAR and bioMSAR; the company’s key fuel decarbonising emulsion fuel products. This should derisk the commercial scale ramp up. QED management has highlighted that Valkor has not yet raised the minimum of US$
Companies: Quadrise PLC
VSA Capital
AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te
Companies: OKEA WDS GALP RHC RHC ENW EOG UJO TRIN I3E SCIR ZPHR SDX CRCL UOG TETY CEG IOX 0EVE CNE VAR TETY VLE GALP OKEA
Auctus Advisors
22nd April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARV CTL AFRN FEN HUW TENG BBSN EAAS VAL
Hybridan
Companies: SigmaRoc Plc
Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k
Companies: Capital Limited
Tamesis Partners
Epwin’s FY23 results show a strong performance in both absolute and relative terms with operating profit increasing 19% yoy to £25.5m (FY22: £21.5m) as the margin expanded 140bps yoy to 7.4%.
Companies: Epwin Group PLC
Zeus Capital
Companies: FOG PEB KBT EMR TIME GETB JNEO
Share: