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Eiffage says proposed tax walking would have cost it 135 million euros in 2023

French construction group and freeway operator Eiffage said on Wednesday it preserved its 2024 outlook for net revenue to be around the previous year's level before a tax additional charge most likely to be enforced on big companies in France.

The business stated that the surcharge, under consideration by the French parliament after being announced by Prime Minister Michel Barnier in October, would have lowered net earnings by 135 million euros if it had been in impact in 2023.

Toll road rival

Vinci

stated last month that if passed in its present type, the expense would increase its taxes by about 400 million euros for 2024, which would be paid in 2025.

Eiffage reported a 4.6% like-for-like rise in its third-quarter income, mentioning vigorous orders.

The group's contracting order book increased 47% year-on-year to 28.8 billion euros, showing 2 significant contracts won in late 2023 and the award of Lyon-Turin rail tunnel construction in 2024's 3rd quarter.

Eiffage gain from very strong exposure in contracting, the company said in a statement, including that the value of orders to be provided in 2026 and later grew by 250%. to 13 billion euros.

It stated organic development in contracting was likely to be. weaker in 2024 than in 2023.

Eiffage, which runs the 1,883-kilometre

(source: Reuters)