Eiffage S.A.

Earnings Release • Jul 20, 2021

Vélizy-Villacoublay, 20 th July 2021 17:40

Press release

APRR revenue and traffic for the 1 st semester 2021

1 st semester 2021

Consolidated revenue

in millions of euro	H1 2019	H1 2020	H1 2021	Variation (%) 2021/2020	Variation (%) 2021/2019
Toll revenue	1,215.0	905.5	1,074.4	+18.6%	-11.6%
Revenue from retail facilities, telecommunications and other	35.8	28.8	38.6	+34.2%	+7.8%
Revenue excluding Construction	1,250.8	934.3	1,113.0	+19.1%	-11.0%
Construction revenue (Ifric 12)*	201.6	125.3	122.2	ns	ns

Excluding Construction, APRR's consolidated revenue totaled €1,113.0 million in the 1 st semester of 2021, an increase of 19.1% from €934.3 million in the 1 st semester of 2020.

Traffic

	Total network
in millions of kilometers travelled	H1 2019	H1 2020	H1 2021	Variation (%) 2021/2020	Variation (%) 2021/2019
Light vehicles	9,585	6,322	7,621	+20.5%	-20.5%
Heavy goods vehicles	1,977	1,699	1,958	+15.3%	-1.0%
Total	11,562	8,021	9,579	+19.4%	-17.1%

Overall traffic measured by the number of kilometers travelled increased by 19.4% in the 1 st semester of 2021 compared to the previous year.

Light vehicles traffic was up 20.5% over the semester, heavy goods vehicles traffic increased by 15.3%.

The third nationwide lockdown, which started on 3 April, particularly affected traffic in April. The gradual lifting of the restrictions from 3 May onwards resulted in a very significant improvement in traffic, as had already been observed during the previous lockdown easing.

2 nd quarter 2021

Consolidated revenue

in millions of euro	Q2 2019	Q2 2020	Q2 2021	Variation (%) 2021/2020	Variation (%) 2021/2019
Toll revenue	628.9	356.5	558.9	+56.8%	-11.1%
Revenue from retail facilities, telecommunications and other	19.6	10.6	22.6	+112.6%	+15.1%
Revenue excluding Construction	648.5	367.1	581.4	+58.4%	-10.3%
Construction revenue (Ifric 12)*	125.2	72.4	76.9	ns	ns

Excluding Construction, APRR's consolidated revenue totaled €581.4 million in the 2nd quarter of 2021, an increase of 58.4% from €367.1 million over the same period in 2020.

Traffic

in millions of kilometers travelled	Total network
	Q2 2019	Q2 2020	Q2 2021	Variation (%) 2021/2020	Variation (%) 2021/2019
Light vehicles	5,064	2,213	4,036	+82.4%	-20.3%
Heavy goods vehicles	989	753	991	+31.5%	+0.2%
Total	6,053	2,967	5,027	+69.5%	-17.0%

Overall traffic measured by the number of kilometers travelled increased by 69.5% in the 2 nd quarter of 2021 compared to the same period of 2020.

Light vehicles traffic increased by 82.4% and heavy goods vehicles traffic was up by 31.5%. Compared to 2019, the closure of ski lifts in ski resorts significantly affected the use of the network in April.

(*) Reminder: the application of Ifric 12 from 1 st January 2009 requires the recognition of revenue generated by construction activities, which corresponds to infrastructure construction services performed by the concession operators for the account of the concession grantor, this work being entrusted to third parties and recognised using the percentage of completion method.