Eiffage SA (EFGSY) Q2 2025 Earnings Call Transcript

2025-08-29 12:39:19 ET

Eiffage SA (EFGSY)

Q2 2025 Earnings Conference Call

August 27, 2025 11:40 AM ET

Company Participants

Benoit de Ruffray - Chairman & CEO

Christian Cassayre - Chief Financial Officer

Ludovic Duplan - Chairman of Energy Systems Division

Conference Call Participants

Ami Galla - Citigroup Inc., Research Division

Elodie Yvonne Daniele Rall - JPMorgan Chase & Co, Research Division

Graham Hunt - Jefferies LLC, Research Division

Presentation

Benoit de Ruffray

Good evening all, and welcome to this presentation of the half year results of Eiffage. As you have seen in the opening of the project of the substation OSS Jasmund for the wind farm Windanker and the Baltic Sea implemented by consortium HSM Offshore Energy, Smulders and Iv. The know-how of HSM and Smulders are very complementary, and we have grabbed the opportunity to reacquire HSM Offshore Energy, while we had already 4 projects in common and that the teams know each other well. This acquisition strengthens our presence as constructor on the market of substations, very dynamic in Europe.

Let's move to the highlights of the first half year. It went very well according to our expectations and confirms our outlook for 2025. As expected, organic growth goes on to contribute to the growth of the group, plus the external growth. As announced, the Construction division, in spite of a downturn at the first quarter is back to growth as of end of June. This half year signs again a very strong growth in Europe outside of France, to a rate of 17.4%, 17, 1-7 point 4. Commercial activity remains important in all our business lines. Recovery plans in some countries in Europe, especially in Germany, will absolutely support and amplifying the development of our activities. The strong multi-annual visibility acquired last year remains present. As illustrated by our order book always its highest and which has been strengthened again.

Construction side, the half year was marked by intake of orders, very diversified in size in all of our countries of operation. Good example of emblematic contract, the design build project of Frontex's headquarters in Poland. 69,000 square meters building that will welcome 2,000 employees. Project will there on the expertise of Defor, Polish subsidiary of Goyer, who is working there for over 35 years in this country. The teams of Eiffage Aménagement were entrusted the implementation of eco-district in Pont des Gains in Breuillet, in the France, an ancient disused site of 5 hectares that will leave the place to a new borrow with 450 housing units, landscaped areas, shops and economic activities....

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