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BOUYGUES SA

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  Report
Real-time Euronext Paris  -  11:35 2022-09-27 am EDT
26.81 EUR   -0.15%
03:21aBouygues : Appointment of Philippe Jouy, Executive Vice President of Bouygues Construction, with responsability for Bouygues Bâtiment France
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02:22aUK Competition Watchdog To Not Refer Bouygues-Equans Merger For Phase Two Investigation
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09/26Bouygues : Disclosure of trading in own shares
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Bouygues ups target for telecoms division after beating expectations

08/02/2022 | 02:45am EDT

Aug 2 (Reuters) - French conglomerate Bouygues reported better than expected first-half core profit on Tuesday and raised its telecoms division's targets for the full year.

The construction, telecoms and media group posted current operating profit - operating profit excluding exceptional costs mainly related to merger and acquisition activity - of 492 million euros ($505 million) for the six months to June 30. That beat a median forecast of 409 million euros in an analyst poll compiled by the company.

The group now expects Bouygues Telecom's earnings before interest, tax, depreciation, and amortisation (EBITDA) after leases to increase by more than 8% in 2022, having previously projected growth of about 7%.

Bouygues Telecom also changed its target of 5% growth in sales from services to more than 5% growth in sales billed to customers, which it said was "more representative of its performance".

Sales in construction and services, which accounted for 74% of Bouygues' revenue, were up 7% to 13.72 billion euros, mainly driven by its Colas subsidiary.

Colas recorded sales of 6.52 billion euros over the period but its current operating result was down 60% year-on-year to a loss of 160 million euros.

Bouygues' net profit (group share) came in at 147 million euros, including costs related to a planned merger between its TV arm TF1 and rival M6 and the acquisition of energy services group Equans.

That was down 64% from the first six months of last year, when net profit was boosted by the sale of several data centres and of shares in trainmaker Alstom.

In the second half, Bouygues expects another 45 million euros in costs linked to M&A, CEO Olivier Roussat told journalists.

TF1 and Bouygues last week said that the French competition authority had concerns about the proposed merger of TF1 and M6.

On Equans, the company is awaiting the decision of the UK competition watchdog, which said on Tuesday it would consider Bouygues' offer.

Shares in Bouygues were up 0.82% at 0936 GMT while Colas had fallen 1.69%.

($1 = 0.9738 euros) (Reporting by Valentine Baldassari and Elitsa Gadeva Editing by Christian Schmollinger, David Goodman and Louise Heavens)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM -0.26% 17.5 Real-time Quote.-43.80%
BOUYGUES SA -0.15% 26.81 Real-time Quote.-14.73%
COLAS 0.00% 115 Real-time Quote.-9.09%
M6 MÉTROPOLE TÉLÉVISION -5.51% 13.04 Real-time Quote.-19.58%
TF1 -1.23% 6.045 Real-time Quote.-29.86%
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09/26Bouygues : Disclosure of trading in own shares
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09/22Bouygues : Document AMF CP. 2022E862359
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Analyst Recommendations on BOUYGUES SA
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Financials
Sales 2022 39 808 M 38 210 M 38 210 M
Net income 2022 963 M 925 M 925 M
Net Debt 2022 4 777 M 4 585 M 4 585 M
P/E ratio 2022 10,7x
Yield 2022 6,70%
Capitalization 10 103 M 9 697 M 9 697 M
EV / Sales 2022 0,37x
EV / Sales 2023 0,31x
Nbr of Employees 127 304
Free-Float 57,8%
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Technical analysis trends BOUYGUES SA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 26,81 €
Average target price 36,62 €
Spread / Average Target 36,6%
EPS Revisions
Managers and Directors
Olivier Roussat Chief Executive Officer
Pascal Grangé Chief Financial Officer, Deputy CEO & SVP
Martin Bouygues Chairman & Chief Executive Officer
Colette Lewiner Independent Director
Rose-Marie van Lerberghe Independent Director
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