Bolloré’s Profits Decline In 2013 – Energy Storage and Electric Vehicle Business Unprofitable

MAR 26 2014 BY MARK KANE 5

Bolloré Bluecars in Bluecub car sharing service

Bolloré Bluecars in Bluecub car sharing service

According to AFP, Bolloré Group saw net profits decline from €669 million in 2012 to €270 million in 2013 despite its main transport and logistics business growing (turnover by 7% to €10.85 billion and operating profit by +30% to €606 million).

Bolloré is heavily investing in energy storage and its electric mobility business, which is eating a fair part of potential net profits.

In 2012, this part of of the business recorded a operating loss of €168 million and then a loss of €126 million in 2013.

This is important because the French giant has big plans regarding EVs in France and London.

The planned nationwide charging infrastructure for France alone would cost €100 million and Bolloré needs to stay profitable to be able to continue investments.

New types of BlueCars and new carsharing services in Lion and Bordeaux in France, plus expansion of Ergué-Gabéric battery plant in north-western France, doesn’t come cheap.

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5 Comments on "Bolloré’s Profits Decline In 2013 – Energy Storage and Electric Vehicle Business Unprofitable"

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This is the kind of slanted, let’s-cherry-pick-the-negatives reporting that insideEVs should and could avoid.

You make the suggestion that the electric car and energy storage business caused the drop in profits, but nothing could be further from the truth. They reduced losses, and so that is an IMPROVEMENT over 2012.

Did you look elsewhere for an explanation for the drop in profits? Or were you just eager to point the finger at EV’s?

+1

What sort of article is that? In the headline it says “Electric Vehicle Business unprofitable” and in the very first line it says the profits of the transport and logistics business grew by 30[!!!]%

Those statements are totally contradictive. I would have to expected to see this kind of biased (or ignorant)reporting about EVs on Faux News but here???

Bolloré Transport and logistics is the biggest chunk of Bolloré’s activity, it means freight transport : trucks, boats, planes, they also manage many harbors in Africa.

It’s not EVs, it’s good old petroleum based transport but’s where all the money to invest in EVs comes from.

That said, jesuch christ do those Bluecars look ugly every time I see them. The first (Pininfarina, IIRC) prototype looked so nice.

They reduced losses from 2012 ti 2013 while expanding their system to other cities an countries. I think they are on the right way.

Otherwise there will be many used bluecars on the second hand market, which isn’t that bad either 🙂