The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Sylvia Pavlova Barker - JP Morgan Chase & Co, Research Division - Analyst
: I had a couple of questions on Nuclear and Oil & Gas and just one on restructuring, please. On Nuclear, it sounds like the 5% was probably a little
better than you hoped in Q3 due to better-than-expected contract phasing. Do you think that might impact slightly negatively in Q4? And then
on Oil & Gas, could you just tell us a little bit more about the timing of the West Africa projects? And then on restructuring, obviously, that's going
to be ramping up Q1, Q2, Q3. Could you just talk a little bit about how much of that is restructuring within the business? And then the integration
of the acquisition, just remind us how much you expect for Q4?
Question: Sylvia Pavlova Barker - JP Morgan Chase & Co, Research Division - Analyst
: That's very clear. And just one clarification on France. So the 2% positive growth, that's at the end of October is a run rate, but October overall was
positive or still slightly negative?
Question: Christophe Chaput - ODDO BHF Corporate & Markets, Research Division - Analyst
: Just 2 quick ones for me. So you give us the guidance on the acquisition for the full year 2018. But could we have, let's say, your comment on the
pipeline for 2019 and further? I mean is it going to be more or less in the same magnitude than 2018, which means EUR 200 million? Or are you
going to come back on the acquisition of EUR 300 million roughly by the end of the year? And just to be sure, for 2018, the 2 targets you like to
sign, could we expect them to have the same profitability as the group in range or, let's say, the region where you are going to make those
acquisitions? Or could it be dilutive, let's say, on the profitability?
Question: Christophe Chaput - ODDO BHF Corporate & Markets, Research Division - Analyst
: And during the Investor Day in Germany, if I may, you mentioned a lot of target, let's say, in this area, Germany. I assume that it's the bulk part of
the future acquisition?
Question: Christophe Chaput - ODDO BHF Corporate & Markets, Research Division - Analyst
: And the price remain, let's say, under control, of the acquisition, I mean?
|
