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The main French groups returned to growth in 2017

Author

Listed:
  • Marie Balard
  • Adrien Boileau
  • Olivier Gonzalez

Abstract

After highly encouraging half-yearly results, the vitality of the 80 largest French industrial and commercial groups was confirmed with a 5.3% increase in turnover during 2017. Capitalising on their international activities, these groups reported extremely strong organic growth, which accounted for a 5.8 percentage point positive contribution to turnover. External growth brought an additional 1.7 percentage point increase, offset by a negative 2.2 percentage point contribution related to exchange rate effects and other variations resulting from the depreciation of the dollar against the euro. This improvement in turnover proved to be a source of profitable growth: EBITDA1 rose by 7.2% year-on-year and net income rose by almost one-third (up 29.2%). Thanks to these robust results, the main groups were able to reinforce their cash position and equity by 5.7% and 2.3%, respectively.

Suggested Citation

  • Marie Balard & Adrien Boileau & Olivier Gonzalez, 2018. "The main French groups returned to growth in 2017," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 217, pages 1-14, Spring.
    • Handle: RePEc:bfr:quarte:2018:217:03
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    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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