(AOF) – Bouygues (+2.17% to 30.10 euros) peaks at the top of the flagship index of the Parisian market after revealing results 9 months better than expected and confirming its 2024 financial objectives. At the beginning of October, the diversified group has lowered several objectives of its telecoms activity for 2026. Over 9 months, Bouygues generated a net profit of 687 million euros, an increase of 22 million euros over one year and current operating income from activities, at 1.72 billion euros, an improvement of 96 million euros over one year and above the consensus which targeted 1.63 billion euros .
The current operating margin for the first 9 months of the year improved by 0.1 percentage point, to 4.1%.
Bouygues published a turnover of 41.49 billion euros, up 1% compared to the same period in 2023. The consensus was targeting 41.39 billion euros.
The increase in results and turnover is mainly driven by Equans (purchased from Engie in 2022) and Bouygues Construction.
“Very high level” of the order book
Furthermore, the order book appears “at a very high level, providing visibility on future activity”, indicates the company in a press release.
The order book for construction activities (Bouygues Construction, Colas, Bouygues Immobilier) stood at 31.8 billion euros at the end of September, up 7% year-on-year.
At 13.9 billion euros, the group's liquidity is made up of the group's cash of 2.7 billion euros supplemented by unused medium and long-term credit facilities of 11.2 billion euros.
Net financial debt at the end of September stood at 8.5 billion euros compared to 6.3 billion euros at the end of December 2023 and 10.2 billion euros at the end of September 2023.
In terms of prospects, Bouygues, whose share price has fallen by almost 14% since January 1, is targeting this year a turnover and current operating income from activities “in slight growth compared to 2023”.
In detail, Equans will continue to improve its results, in accordance with its Perform strategic plan. Its 2024 turnover will be close, slightly higher, than that of 2023. “Bouygues Immobilier will continue to face a difficult market environment, offering little visibility on the recovery timetable,” specifies the group. Bouygues Telecom has confirmed that it is aiming for an increase in turnover invoiced to customers and an EBITDA after rent of more than 2 billion euros.
The group will publish its 2024 annual results on March 6, 2025.
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