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UPDATE 1-Eiffage reports drop in second-quarter sales
July 28, 2014 / 5:25 PM / 3 years ago

UPDATE 1-Eiffage reports drop in second-quarter sales

* Q2 sales fall 4.1 pct to 3.47 bln euros

* Public works drop on local elections, May holidays

* CFO says FY sales target of 14.4 bln euros maintained (Adds CFO reaffirming full-year sales guidance of 14.4 bln euros, background)

PARIS, July 28 (Reuters) - French construction and concessions company Eiffage reported a 4.1 percent fall in second-quarter sales on Monday, partly due to a drop in public works, such as road building.

For the year as a whole, Eiffage said it expected slight growth in sales and Chief Financial Officer Christian Cassayre told Reuters the company was maintaining its 2014 revenue target of 14.4 billion euros.

Eiffage’s second quarter revenue fell 4.1 percent to 3.47 billion euros ($4.66 billion), pressured also by a 9.5 percent drop in sales at its energy division.

Revenue from public works such as road-building fell 6.5 percent over the period, affected by municipal elections in March and numerous holidays in May, Eiffage said.

The group’s total order book rose 4.8 percent from the start of the year to 12.3 billion euros, while traffic on its APRR motorway network rose 2 percent in the first half.

Eiffage, which built the Millau Viaduct in France and the Sydney Opera House, generates roughly 85 percent of its revenue from contracting operations - which include construction and public works - and the rest from concessions, mainly motorways but also prisons and hospitals.

The group, France’s third-largest builder behind Vinci and Bouygues, is due to publish detailed results on Aug 27.

1 $ = 0.7440 euro Reporting by Natalie Huet and Gilles Guillaume, editing by Astrid Wendlandt and Jane Merriman

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