APRR, the motorway operator within Eiffage SA (EPA:FGR), reported that combined toll revenues for APRR and AREA increased by about 1% in the first quarter, based on traffic figures released Tuesday.
Traffic volumes in the quarter fell 0.9% compared with the same period a year earlier. The data show a continuing pattern in which growth in heavy vehicle movements has been offsetting weaker light vehicle flows. Specifically, heavy vehicle traffic expanded by 2.5% year-on-year while light vehicle traffic declined by 1.6%.
The company flagged operational disruptions as likely contributors to the overall traffic decrease. Management pointed to strikes and adverse weather during the period as probable factors that dampened vehicle numbers. At the same time, average toll pricing was raised by roughly 2%, and this incremental tariff lift was enough to compensate for the reduction in volumes and produce the modest year-on-year revenue increase.
Traffic on the A-79 corridor showed signs of a slowdown compared with recent quarters. In the first quarter it grew 4.1% year-on-year, a deceleration from a 7.5% increase recorded in the fourth quarter of 2025 and from an 11.7% rise in the first quarter of 2025.
While the headline revenue movement was modestly positive, the underlying mix of traffic and the role of pricing increases are notable. Heavy vehicles have continued to be the primary driver of growth in movements, while passenger cars have been the weaker segment. The tariff adjustment of about 2% offset those volume headwinds, producing positive revenue performance on a combined APRR and AREA basis.
Eiffage has scheduled the release of its full first-quarter revenues for the afternoon of May 12. That report will provide the consolidated revenue figures and any additional commentary from company management on the factors that shaped Q1 performance.
Context and implications
- Modest revenue growth was achieved despite a small fall in total traffic volumes.
- Heavy vehicle traffic remains the stronger segment, while light vehicle counts are down.
- Pricing increases played a decisive role in offsetting lower volumes.
The figures released are limited to traffic and preliminary revenue movements; the full company revenue release on May 12 will contain the detailed financials and any additional commentary from Eiffage.