France · Delayed Price · Currency is EUR Bouygues Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw resilient performance amid macro volatility, with improved net debt, stable construction backlog, and strong Equans margin. Telecom and media faced competitive and advertising pressures, but 2026 guidance is confirmed across all segments.
Fiscal Year 2025
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Revenue and net income grew modestly, with record free cash flow and reduced net debt. Construction and Equans drove profit gains, while TF1 and Bouygues Telecom faced market headwinds. Dividend increased for the third year, and 2026 guidance targets stable sales and high margins.
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Nine-month 2025 results showed modest sales growth, improved profitability, and reduced net debt, with strong performance in construction and Equans offsetting telecom and media headwinds. Outlook remains cautious amid macro uncertainty, with stable or slightly higher guidance for 2025.
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A joint non-binding €17 billion offer by three telecom operators targets Altice France assets, aiming for market consolidation, operational synergies, and long-term value. The process involves complex asset allocation, regulatory review, and a multi-year transition, with completion expected post-2027.
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Sales and operating profit rose in H1 2025, driven by construction and Equans, despite a one-off tax impact. Backlogs remain strong across segments, telecoms face intense competition, and the group maintains a positive outlook for 2025.
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Sales and COPA rose year-on-year, with strong backlog growth and improved margins across key segments. Net debt improved despite major acquisitions, and 2025 guidance is confirmed amid ongoing macroeconomic uncertainty.
Fiscal Year 2024
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2024 saw robust results with sales, COPA, and free cash flow all rising, and net debt improving despite major acquisitions. Segment performance was strong in construction, telecom, and media, with positive outlooks for 2025 and beyond.
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Group sales and profit rose modestly year on year, with strong construction backlog and improved net debt. Equans and Bouygues Telecom delivered margin and customer growth, while new telecom offers and the La Poste Telecom acquisition are set to support future performance.
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Sales and operating profit rose slightly year-over-year, with strong construction backlogs and improved net debt. Equans and Bouygues Telecom delivered solid results, while Bouygues Immobilier faces a tough market. 2024 guidance is confirmed for modest growth.