The Group displayed a solid operating performance in 2016. Growth in margins at all the Group’s divisions and a fall in financial costs, resulted in an increase of net profit Group share(1) of 33.3%.
In France, motorway traffic volumes were robust and Contracting activity levels stabilised, while international growth continued to develop. In view of the productivity and reorganisation efforts made in recent years, and thanks to its compactness, the Group saw its operating income increase both in Contracting (+10.2%) and Concessions (+11,8%). This reflected the success of the Group’s business model, balanced between Contracting and Concessions, and the strengthening of its foothold in Europe.
Generation of operating cash flow enabled the Group to reduce its debt by almost €0.4 billion, despite increased external growth investment in 2016, with the equity interest increase in the A41 motorway in France by Concessions, and acquisitions in France, Belgium, Switzerland and Germany by the Contracting divisions.
With an increase in orders of 5.1%, the Group is expecting a slight increase in its activity and a further rise in earnings for 2017.
(1) Before taking into account the adjustment of non-current deferred tax (+ 59 M€);