EFGSF - Eiffage SA (EFGSY) Q4 2024 Earnings Call Transcript
2025-02-27 06:02:04 ET
Eiffage SA (EFGSY)
Q4 2024 Results Conference Call
February 26, 2025 11:40 AM ET
Company Participants
Benoit de Ruffray - Chairman & CEO
Camille Bonenfant-Jeanneney - Chairman of Motorway Concessions
Christian Cassayre - Chief Financial Officer
Philippe Seitz - Director
Olivier Berthelot - Chairman of the Construction Division
Conference Call Participants
Pierre Rousseau - Barclays
Gregor Kuglitsch - UBS
Luis Prieto - Kepler
Graham Hunt - Jefferies
Marcin Wojtal - Bank of America
Presentation
Benoit de Ruffray
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've 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 [indiscernible]. He was chosen as senior executive by Jean-Francois Roverato to head up APRR and AREA in 2006 after the privatization here companied the businesses of Motorway Concession as up until the present days. 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, would you like to briefly introduce yourself?
Camille Bonenfant-Jeanneney
Good evening. I'm delighted to be with you this evening and very honored to have joined the Eiffage Group early January. Well, in a few years, I've been working for some 20 years. First half in the European institutions in Paris, Brussels and then network companies, RATP and ENGIE, the utility worked on other infrastructure and concessions businesses. And I got a first taste of motorways being an independent Board member of [indiscernible] before joining Eiffage. Thank you, Benoit, for your confidence. It's a first for me.
I'm sure that I won't be on a par with Philippe when it comes to traffic forecasts.
Benoit de Ruffray
Turning now to the highlights. 2024, once again, a very strong year both in terms of earnings as well as order intake, these good results. What's more were accompanied by extremely good cash flow generation. Order intake 2023 ended with a record order book boosted by the entry into order of the two major contracts of the EPR 2 of Line 15, East of the Greater Paris express bringing a major scale change to our order book.
2024 is marked by the acquisition once again of some major contracts that strengthen visibility in Europe, but also in Energy Systems and Construction business lines. Business franchises remain very active, and we can even note the stabilization, indeed at the low point of new housing, the order book at the end of '24 ends up 11% over the record level at the end of 2023, but it's even more solid because its growth both in volume as well as debt. Now covers all the construction businesses of the group. And it doesn't integrate the balance of operations that haven't yet got underway the Nove project.
And the future strengthening of works currently underway for Amprion and Rail Baltic representing several billion euros for the out years. So a few illustrations of our recent order intakes on the back of the success of the project for the Paris-Saclay Hospital. We won a new contract for the design, build, operation and maintenance of the University Hospital Campus, Greater Paris North at Saint-Ouen. Work will begin in the spring of 2026 after a design period of 17 months, to be delivered at the end of '29. Only the design contract is included in the order book thus far....
Eiffage SA (EFGSY) Q4 2024 Earnings Call Transcript