• Revenue : € 1,860.1 million
• EBITDA : € 202.1 million
• EBIT : € 77.5 million

The Board of Directors of CFE examined and approved the H1 2018 financial statements at its meeting on August 27, 2018.
In million € 1st semester 2018 1st semester 2017 Variation
Revenue 1,860.1 1,455.9 +27.8%
Self-financing capacity (EBITDA) (*)
% of revenu 202.1 10.9% 226.0 15.5% -10.6%
Operating income on activities (*)
% of revenu 78.7 4.2% 116.3 8.0% -32.3%
Operating income (EBIT) (*)
% of revenu 77.5 4.2% 101.0 6.9% -23.3%
Net income share of the group
% of revenu 51.8 2.8% 67.8 4.7% -23.6%
Net income share of the group per share (in EUR) 2.05 2.68 -23.5%

1. Key figures in the first half of 2018
In million € 30 June 2018 31 december 2017 (**) Variation

Equity share of the Group 1,603.6 1,614.4 -0.7%
Net financial debt (*) 649.9 351.9 +84.7%
Order book 4,302.4 4,850.8 -11.3%
First half results 2018
(*) The definitions are included in the ‘Consolidated financial statements’ section of the intermediary report.
(**) Amounts restated in accordance with changes in accounting method linked to the application of accounting standards IFRS 15 Revenue from
Contracts with Customers and IFRS 9 Financial Instruments and the associated amendments.

GENERAL INTRODUCTION
Revenue in the first half of 2018 amounted to € 1,860.1 million, which is up 27.8% compared to the first
half of 2017. The three divisions of the group reported a substantial growth in activity.
EBITDA stood at € 202.1 million and EBIT at € 77.5 million euros, compared to € 101.0 million in the first half of 2017. This decrease in EBIT is primarily explained by three factors:
• significant delays in the deployment of new vessels into use at DEME, resulting in considerable extra costs. The new vessels are now fully operational. Therefore there will be no extra cost of late delivery in the second half of the year;
• an unfavourable socioeconomic environment and difficult market conditions in Tunisia that weigh on the figures of the local branch CTE;
• it should be remembered that two exceptional real estate transactions had a very favourable impact on BPI’s operating income in the first half of 2017.
The net result, share of the group, came to € 51.8 million. While DEME reported a increase, the net result decreased in Contracting and at BPI.
After taking into account the payment of a dividend of € 60.8 million in respect of the 2017 financial year, the equity share of the Group amounted to € 1,603.6 million at 30 June 2018.
The group’s net financial debt amounted to € 649.9 million, compared to € 351.9 million at 31 December 2017. This increase, which is in line with expectations, is explained by the continuation of DEME’s investment programme.

zie & lees verder op
http://hugin.info/134311/R/2213477/863361.pdf

tijd 09.17
De Bel 20 3.749,69 -31,99 -0,85% Ackermans & v.H. EUR 158,40 -1,90 vol. 4.333