(Reuters) – Eiffage posted an increase in its annual profit on Wednesday, boosted by favorable investments in its concessions and works activities, and announced a dividend of 3.60 euros per share against 3.10 euros last year.
The construction group has announced consolidated turnover of more than 20.3 billion euros for 2022, up 7.3% at constant scope compared to 2021 figures.
The group attributes this growth in part to investments. The concessions activity was boosted by the acquisition of Sun’R in renewable energies, the commissioning of the A79 motorway in France and an increase in the capital of Getlink, operator of the Channel Tunnel.
The company became Getlink’s largest shareholder last year with an 18.8% stake for an investment of nearly 1.2 billion euros.
Managing Director Benoît de Ruffray indicated in a call to analysts that an increase in Eiffage’s stake in Getlink was envisaged to 30% “in the medium to long term”, but nevertheless stressed that it would only be linked to to course opportunities.
The group now expects a further increase in current operating profit in both branches in 2023. Eiffage’s share in net profit should also be boosted by the participation of Getlink, specifies the group.
(Report by Dina Kartit, Augustin Turpin)
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