Eiffage

What Eiffage does

Eiffage S.A. is a France-headquartered (Vélizy-Villacoublay) publicly listed construction and concessions group, included in the CAC 40 index on Euronext Paris, employing approximately 87,000 people worldwide and reporting €25 billion in FY2025 sales (up 8% YoY). The group operates through twelve business divisions spanning building construction (Eiffage Construction), roads (Eiffage Route), civil engineering (Eiffage Génie Civil), metal structures (Eiffage Métal), rail (Eiffage Rail), energy systems (Eiffage Énergie Systèmes), real estate development (Eiffage Immobilier, Eiffage Aménagement), and concessions (Eiffage Concessions and APRR motorways). Key subsidiaries include Belgian-based Smulders for offshore wind steel structures and HVDC converter stations, Goyer for façades, plus recently acquired EQOS (rail catenary), Hand & Werk (German data centres), and Quercy Réfrigération (industrial refrigeration).

Eiffage's underlying technology footprint spans High Voltage Direct Current offshore converter stations via the NSORe joint venture with Neptun Werft, nuclear condenser and metal frame manufacturing under a 12-year partnership with Arabelle Solutions (EDF) for the EPR2 programme, utility-scale solar plant construction (NOOR Atlas in Morocco), tunnel boring, railway catenary installation, and low-carbon construction methods including a circular economy material library (Kernoa). The group pursues large European infrastructure contracts through competitive tenders, consortia (e.g., Mostostal Kraków for Nuremberg bridges), and public-private partnership structures, while APRR toll road concessions provide recurring revenue from a regulated French motorway network.

Eiffage generates revenue primarily through project-based construction contracts (building, civil engineering, road, rail, metal, energy installations) and through recurring toll road concession fees from APRR. Customers span national and local governments (Port of Marseille Fos, City of Nuremberg, SNCF Réseau), energy developers and utilities (Ørsted, EDF/Arabelle), and corporate clients (Crédit Agricole, EDHEC). The company combines direct enterprise sales via tenders and PPP negotiations with consortium-based delivery for mega-projects, balancing cyclical construction revenue against stable concession cash flow, while pursuing M&A-driven expansion into adjacent verticals such as industrial refrigeration, data centres, and rail electrification.

Name

Eiffage

Legal name

Eiffage S.A.

Website

https://eiffage.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Eiffage is a France-headquartered CAC 40-listed construction and concessions group operating across building, civil engineering, rail, energy systems, real estate, and motorway concessions, serving public authorities, energy developers, and large corporations across Europe with €25 billion in FY2025 revenue.

Ownership category

akta.pro rank

Product category

Construction & Infrastructure Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Wind Electric Power Generation (221115)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

akta.pro secondary industries

Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI), Transmission line EPC & construction (overhead) (EUADAKAA)

Keywords

• Construction services
• Civil engineering
• Infrastructure concessions
• Energy systems
• Real estate development

Headquarters

HQ city

Vélizy-villacoublay

HQ country

France

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Construction and Infrastructure: Core revenue from construction contracts across building, civil engineering, road construction, rail, metal structures, and industrial refrigeration. Includes large EPC projects in offshore wind, solar, nuclear, and conventional infrastructure.
2. Concessions: Revenue from toll road concessions (APRR in France) and public infrastructure concessions. Toll road traffic generates recurring concession revenues. Eiffage also holds stakes in the Warnow Tunnel in Germany (under exclusive negotiation for acquisition).
3. Real Estate Development: Eiffage Immobilier designs and develops living spaces and buildings across France and internationally, including design-build projects for private clients (Crédit Agricole, EDHEC) and public sector (Port of Marseille Fos headquarters).
4. Energy Systems: Eiffage Énergie Systèmes delivers electrical, industrial, HVAC and energy engineering installation, integration and operation. Includes solar plant construction (NOOR Atlas Morocco), electrical infrastructure, and data centre installations (Hand & Werk acquisition in Germany).

Go-to-market motion3 records

Distribution channels5 records

Marketing channels10 records

Core offering

Eiffage is a diversified construction and concessions group that designs, finances, builds, and operates large-scale infrastructure, buildings, energy systems, and transport networks. Its portfolio spans civil engineering, road and rail construction, metal structures, offshore wind HVDC converter stations, nuclear condenser manufacturing, solar and renewable energy construction, real estate development, and motorway concessions (APRR) across Europe and select international markets.

Product overview

Eiffage is a major French construction and concessions group operating as a multi-divisional conglomerate with twelve distinct business divisions. The portfolio includes core construction operations (Eiffage Construction, Eiffage Route, Eiffage Génie Civil, Eiffage Métal, Eiffage Rail, Eiffage Énergie Systèmes) serving building, infrastructure, energy, and rail sectors. Real estate activities are handled through Eiffage Immobilier and Eiffage Aménagement, while Eiffage Concessions manages public-private partnerships and toll road concessions including APRR. The group operates internationally through subsidiaries like Smulders (Belgium, offshore wind), with innovation platforms including Sekoya for sustainable technology and Start.box for employee innovation. Recent strategic moves include acquisitions in industrial refrigeration (Quercy Réfrigération), railway catenary (EQOS), and data centre services (Hand & Werk), plus partnerships in nuclear energy (Arabelle Solutions) and agrivoltaics (Sun'Agri).

Differentiator

Problem solved

Functional benefit

Products and services

• Eiffage Construction Building and public works construction services including residential, commercial, and industrial building projects.
• Eiffage Route Road construction, maintenance, and related infrastructure services including highways and urban roads.
• Eiffage Génie Civil Civil engineering including tunnels, bridges, dams, and major infrastructure structures.
• Eiffage Métal Metal structures, steel construction, and industrial metalwork for buildings and infrastructure.
• Eiffage Rail Railway construction, maintenance, and catenary installation services for high-speed and conventional rail.
• Eiffage Énergie Systèmes Electrical systems, energy installations, HVAC, and industrial equipment integration services.
• Eiffage Immobilier Real estate development including residential, commercial, and mixed-use property development.
• Eiffage Aménagement Urban development and land development services for regional planning projects.
• Eiffage Concessions Public-private partnerships, infrastructure concessions, and project financing services.
• APRR (Autoroutes Paris-Rhin-Rhône) Motorway concession operator managing toll roads in France, part of Eiffage Group's concessions portfolio.
• Goyer Glazing and facade specialist company providing architectural glass solutions.
• Smulders Belgian subsidiary specializing in offshore wind foundations, HVDC converter platforms, and steel structures for renewable energy projects.
• Sun'Agri Agrivoltaics technology that installs solar panels over crops to protect them from heatwaves and ensure harvest stability while generating renewable energy.
• NOOR Atlas Solar Power Plants (Morocco) Eiffage builds four solar power plants for the NOOR Atlas programme in Morocco, expanding renewable energy infrastructure.
• Baltica-2 Offshore Wind Secondary Steel Structures Supply of 107 suspended internal platforms for Ørsted's Baltica-2 offshore wind farm in Poland, manufactured by Eiffage subsidiary Smulders.
• Port of Marseille Fos Headquarters Financing, design, construction, and maintenance contract for the Port of Marseille Fos new headquarters (8,800 m²) and renovation of a 19th-century heritage hangar, worth €120 million.
• Nuclear Condenser Module Manufacturing (EPR2) 12-year manufacturing partnership with Arabelle Solutions (EDF subsidiary) for nuclear condenser modules and metal frames for the EPR2 programme.

Quantifiable outcome

• Full-year 2025 sales of €25 billion, up 8% year-over-year
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered minor, core and major.

• Hand & Werk (Germany)minorStrategic or Co-development Partner · 12 May 2026Eiffage acquired a majority stake in Hand & Werk to expand its presence in the German data centre market. Eiffage En往ergie Systèmes integrates Hand & Werk's capabilities to pursue data centre electrical infrastructure projects in Germany.
• EQOS (Luxembourg)coreStrategic or Co-development Partner · 1 October 2024In October 2024, Eiffage acquired Luxembourg-headquartered EQOS to strengthen its railway catenary installation and maintenance capabilities in Belgium. This acquisition directly enhances Eiffage Rail's technical capabilities in the railway electrification segment.
• Atlas ArteriamajorStrategic or Co-development PartnerAtlas Arteria has confirmed ongoing discussions with Eiffage regarding the potential development of the Warnow Tunnel in Germany. Eiffage entered exclusive negotiations in June 2026 to acquire the Warnow Tunnel concession in Rostock. The two companies previously collaborated on the A79 motorway concession in France where they were preferred bidder in 2019. The potential acquisition represents a strategic expansion into German toll road infrastructure.
• Smulders (Eiffage subsidiary) / Siemens Energy AG / Neptun WerftmajorStrategic or Co-development PartnerA consortium including Siemens Energy AG, Belgian construction firm Smulders (subsidiary of Eiffage), and German shipbuilder Neptun Werft won a tender for a 2-gigawatt offshore wind HVDC converter platform in the Baltic Sea, backed by Germany's up to €300 million loan guarantee. Eiffage created NSORe (Neptun Smulders Offshore Renewables) joint venture with Neptun Werft specifically for HVDC offshore substation projects.
• Arabelle Solutions (EDF subsidiary)majorStrategic or Co-development PartnerEiffage signed a 12-year partnership agreement with Arabelle Solutions (EDF subsidiary) for manufacturing modules and metal frames for nuclear condensers in France and Europe, supporting the EPR2 programme industrial phase. Eiffage brings manufacturing capabilities while Arabelle provides the nuclear technology platform.
• Terres d'Armor HabitatminorStrategic or Co-development PartnerEiffage, acting on behalf of social housing landlord Terres d'Armor Habitat, launched an ephemeral material library at the Kernoa urban renovation site in Paimpol, Côtes-d'Armor. Eiffage manages the circular economy initiative on behalf of the social housing landlord as part of a major public housing renovation programme.
• ØrstedcoreImplementation/ SI/ Consulting PartnerØrsted is overseeing the Baltica-2 offshore wind farm in Poland where Eiffage subsidiary Smulders supplies 107 suspended internal platforms. This positions Eiffage as a key supplier in Ørsted's supply chain for offshore wind infrastructure.
• Mostostal KrakówminorChannel Partner/ Reseller/ DistributorEiffage (via German subsidiaries Eiffage Infra-Bau and SEH) won the Nuremberg bridge replacement contract in a consortium with Mostostal Kraków. The Polish partner contributes specialized steel/engineering capabilities to the consortium.
• Grupa Przemyslowa Baltic (Poland)minorChannel Partner/ Reseller/ DistributorGrupa Przemyslowa Baltic supplies 111 anode cages and 111 vessel mooring platforms for Ørsted's Baltica-2 project. Together with Eiffage/Smulders, two Polish companies account for 75% of secondary steel units on the project.
• Etermar Energia (Portugal)minorChannel Partner/ Reseller/ DistributorEtermar Energia supplies 107 external platforms for Ørsted's Baltica-2 offshore wind farm, complementing Smulders' internal platform supply. Multiple suppliers across Europe execute the project's secondary steel components.
• GoyerminorStrategic or Co-development PartnerGoyer is a subsidiary of Eiffage operating in building shells, metallic structures, and facades, highlighted within the Group's construction businesses.
• Sun'AgriminorStrategic or Co-development PartnerSun'Agri's agrivoltaics technology is featured in Eiffage's project portfolio, with TF1 highlighting Sun'Agri's installations protecting crops (e.g., cherries) from high temperatures. Eiffage features this innovative technology in its sustainability and agricultural innovation initiatives.
• AllegominorChannel Partner/ Reseller/ DistributorAPRR (Eiffage concession subsidiary) partnered with Allego to install fast and ultra-fast charging points at 31 motorway service areas. Allego provides the charging infrastructure technology and operation while APRR provides the strategic locations at rest areas.
• Campus AI / Fouju CampusminorStrategic or Co-development PartnerEiffage was selected for deployment of shared infrastructure on the Fouju Campus (Campus AI project) in a deal worth over €120 million. This represents a major campus infrastructure development contract.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Strabag: Strabag is a major Austrian/German construction group with strong civil engineering and transportation infrastructure capabilities, directly comparable to Eiffage's Génie Civil and Route divisions in Central Europe.
• Skanska: Skanska is a Swedish construction and project-development group operating across civil engineering, building construction, and infrastructure, comparable to Eiffage in size and Nordic/European geographic mix.
• Hochtief: Hochtief is a leading German construction company (controlled by ACS) directly competing with Eiffage Infra-Bau and Smulders on German infrastructure, offshore wind, and civil engineering projects, with comparable order book characteristics.
• Bouygues: Bouygues is a major French diversified group with substantial construction (Bouygues Construction, Colas) and concessions activities, overlapping with Eiffage's building, civil engineering, road construction, and energy services across French and European markets.
• Balfour Beatty: Balfour Beatty is a UK-listed infrastructure group with construction, civil engineering, and support-services exposure similar to Eiffage's diversified divisions, particularly relevant as a UK/European comparator for roads and rail.
• Vinci SA: Vinci is the largest French construction and concessions group, with directly overlapping concessions (Cofiroute toll roads, airports), energy/renewables, and major-project EPC. Eiffage and Vinci compete head-to-head on French motorway concessions and on large European infrastructure tenders, making Vinci the closest comparable.
• Ferrovial: Ferrovial is a Spanish infrastructure company with toll road concessions (e.g., 407 ETR, Heathrow stake) and major-project construction, overlapping with Eiffage's concessions and large civil engineering footprint across Europe and North America.

Regional players

• NCC AB: NCC is a leading Nordic construction and real-estate developer, comparable to Eiffage in building, civil engineering, and infrastructure mix but primarily serving Sweden, Norway, Finland, and Denmark rather than France and Benelux.
• Implenia: Implenia is a major Swiss construction and real-estate services company, comparable to Eiffage Aménagement and Eiffage Construction in the Alpine/Swiss corridor where Eiffage also has operations.

Broad incumbents

• ACS Group (Actividades de Construcción y Servicios): ACS is one of the world's largest construction and infrastructure groups (parent of Hochtief), with broad concessions and renewable energy exposure overlapping Eiffage's portfolio. Eiffage is meaningfully smaller but competes with ACS subsidiaries in many European markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/eiffage
• YouTubeyoutube.com/channel/UCAK5wDoQ5jdtg8lyQxFWPGw
• Facebookfacebook.com/Eiffage
• LinkedInlinkedin.com/company/eiffage_2
• Instagraminstagram.com/eiffagegroupe

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eiffage