Colas — Interim / Quarterly Report 2011

Nov 15, 2011

Financial Information 3rd quarter 2011

Revenue at the end of September 2011: 9.2 billion euros (+4.4%)

Consolidated revenue at the end of September 2011 totaled 9.2 billion euros, up 4.4% compared to revenue at the end of September 2010 (2.5% with unchanged exchange rates and scope of business).

(in billions of euros)

st quarter 1		nd quarter 2		rd quarter 3
2011	2010	2011	2010	2011	2010
2.12	1.83	3.28	3.17	3.77	3.78

Business trends at the end of September 2011 are very similar to those reported at the end of June 2011 and are in line with forecasts.

In Mainland France, revenue is up 9.1% boosted by activities focused on roads, waterproofing and the sales of refined oil products (posted for 9 months in 2011 compared to 3 months in 2010).

Colas companies in the French Overseas Departments are recording a slight improvement in revenue figures thanks to a moderate recovery in Reunion Island that counterbalances a modest drop in the West Indies and French Guiana.

North America has offset the delays recorded at the end of June 2011 caused by unfavorable weather conditions during the first half year.

Revenue in Europe is down 5.6%. A slight increase in revenue for subsidiaries in Northern Europe (+3%) has not been able to make up for the forecast drop in business in central Europe (-19%).

The rest of the world has posted revenue figures that remain similar to those recorded at the end of September 2010.

In light of currently available data, revenue for 2011 should be slightly more than 12 billion euros, a 3% increase (11.661 billion euros at the end of December 2010).

Work-on-hand at the end of September 2011 amounts to 6.7 billion euros, a 2% increase over the end of September 2010.

Revenue by geographic zone

(in billions of euros)

	As of 30/09/2011	As of 30/09/2010	Variation	Variation with comparable scope of business and exchange rates
Mainland France	5.20	4.77	9.1%	5.0%
Overseas Depts.	0.31	0.31	1.9%	-
France	5.51	5.08	8.6%	4.9%
North America 1.69		1.66	1.9%	4.2%
Europe	1.31	1.39	-5.6%	-
Africa, Indian Ocean, Asia	0.66	0.66	-1.2%	-
International	3.66	3.71	-1.5%	-3.6%
TOTAL	9.17	8.79	4.4%	2.5%

Revenue by business sector

(in billions of euros)

Revenue by business sector	As of 30/09/2011	As of 30/09/2010	Variation	Reminder fiscal 2010
Roads	7.18	6.81	5.3%	9.04
Civil engineering, Pipes & mains	0.58	0.59	-1.3%	0.80
Waterproofing	0.50	0.45	10.9%	0.59
Railways	0.43	0.42	0.7%	0.56
Building	0.23	0.26	-11.8%	0.34
Signaling and Safety	0.25	0.25	2.4%	0.33
TOTAL	9.17	8.78	4.4%	11.66