Eiffage S.A.

Earnings Release • Oct 17, 2024

Vélizy-Villacoublay, October 17, 2024 17:40

Press release

APRR revenue and traffic for Q3 2024

AS OF SEPTEMBER 30, 2024

Consolidated revenue

in millions of euros	As of 30/09/2023	As of 30/09/2024	Change (%) 2024/2023
APRR and AREA toll turnover	2,173.9	2,256.7	+3.8%
Revenue from commercial, telecom and other facilities for APRR and AREA	102.7	106.1	+3.4%
Subtotal APRR and AREA revenue	2,276.6	2,362.9	+3.8%
Aliaé revenue (A79)	34.1	38.3	+12.4%
Of which from commercial facilities	8.0	9.9	+23.6%
Revenue excluding Construction	2,310.7	2,401.2	+3.9%
Construction revenue (Ifric 12)*	140.0	144.6	+3.3%

APRR's consolidated revenue excluding Construction amounted to €2,401.2 million as of September 30, 2024, compared with €2,310.7 million as of September 30, 2023, an increase of 3.9% (12.4% for Aliaé (A79)).

Traffic

APRR and AREA networks
in millions of km travelled	As of 30/09/2023	As of 30/09/2024	Change (%) 2024/2023
Light vehicles	16,802	16,778	-0.1%
Heavy goods vehicles	3,003	2,969	-1.1%
Total	19,805	19,746	-0.3%

Total traffic, measured in terms of kilometres travelled, was down 0.3% on 30 September 2024 compared to the previous year. Light vehicle traffic decreased by 0.1% and heavy goods vehicle traffic by 1.1%.

Aliaé Network (A79)
in thousands of km travelled	As of 30/09/2023	As of 30/09/2024	Change (%) 2024/2023
Light vehicles	219.0	240.9	+10.0%
Heavy goods vehicles	105.3	108.3	+2.9%
Total	324.3	349.2	+7.7%

Q3 2024

Consolidated revenue

in millions of euros	Q3 2023	Q3 2024	Change (%) 2024/2023
APRR and AREA toll turnover	803.9	843.5	+4.9%
Revenue from commercial, telecom and other facilities for APRR and AREA	39.2	42.0	+7.0%
Subtotal APRR and AREA revenue	843.1	885.4	+5.0%
Aliaé revenue (A79)	13.5	15.0	+11.2%
Of which from commercial facilities	3.9	4.6	+17.7%
Revenue excluding Construction	856.6	900.4	+5.1%
Construction revenue (Ifric 12)*	55.8	39.0	Ns

APRR's consolidated revenue excluding Construction amounted to €900.4 million in Q3 2024, compared with €856.6 million in Q3 2023, an increase of 5.1% (11.2% for Aliaé (A79)).

Traffic

APRR and AREA networks
in millions of km travelled	Q3 2023	Q3 2024	Change (%) 2024/2023
Light vehicles	6,673	6,704	+0.5%
Heavy goods vehicles	944	961	+1.7%
Total	7,617	7,664	+0.6%

Total traffic, measured in the number of kilometres travelled, increased by 0.6% in the 3rd quarter of 2024 compared to the previous year. Light vehicle traffic increased by 0.5% and heavy goods vehicle traffic by 1.7%.

Aliaé Network (A79)
in thousands of km travelled	Q3 2023	Q3 2024	Change (%) 2024/2023
Light vehicles	104.4	110.6	+5.9%
Heavy goods vehicles	33.5	35.2	+5.0%
Total	137.9	145.7	+5.7%

(*) Reminder: the application of the Ifric 12 interpretation since 1st January 2009 implies the recognition of a Construction turnover corresponding to the construction services of the infrastructures carried out by the concession companies on behalf of the Grantor and whose works are entrusted to third parties and accounted for in progress.

Highlights

On 16 October 2024, S&P confirmed APRR's A- credit rating with a stable outlook.

On 15 October 2024, signature by the French government and AMEDEA (an Eiffage subsidiary in a consortium with APRR) of the concession agreement for the A412 motorway between Machilly and Thonon-les-Bains (Haute-Savoie department).

On September 12, 2024, APRR successfully placed a new €0.5 billion bond issue due January 2034 with a coupon of 3.125%.