Bouygues confirms FY outlook

Bouygues confirms FY outlook

Paris, July 2, 2025 — Bouygues, a leading global player in construction, telecommunications, and media, has released its first-half 2025 results, showcasing resilience despite a challenging macroeconomic and geopolitical environment. The company reported group sales of €26.9 billion, up 1.3% year-on-year, driven primarily by its construction businesses and the contribution from La Poste Telecom.

Key Financial Highlights

- Group Sales: €26.9 billion, up 1.3% year-on-year.
- Current Operating Profit from Activities (COPA): €796 million, up €49 million year-on-year.
- Net Profit Attributable to the Group: €173 million, improving €34 million year-on-year.
- Net Debt: €8.5 billion, down €206 million year-on-year.

The company's liquidity remains robust, with a very high level of liquidity at €13.4 billion. The net debt to equity ratio has improved to 62%, down from 65% at the end of 2024. The acquisition of La Poste Telecom contributed significantly to this improvement.

Segment Performance

- Equans: Sales are expected to be close to the level of 2024, with a margin from activities targeted at 4.2%.
- Bouygues Telecom: Sales billed to customers, including La Poste Telecom, are expected to be higher than in 2024, with EBITDA after leases broadly stable.
- TF1 Group: The group expects strong double-digit revenue growth in digital, with a broadly stable margin from activities.

Construction Businesses

The construction businesses reported a high backlog of €33 billion at end-June 2025, up 6% year-on-year. Colas and Bouygues Construction both showed strong order intake growth, particularly in international markets. Bouygues Construction's sales rose 5% year-on-year, while Bouygues Immobilier reported a 6% increase.

Outlook for 2025

Bouygues expects a slight increase in sales and COPA for 2025 compared to 2024. The company is targeting a net profit of around €170 million, excluding the impact of the French Finance law and the Social security financing law for 2025. The estimated impact of these laws is around €100 million for the full year.

Conclusion

Despite the uncertain economic climate, Bouygues has demonstrated strong financial performance in the first half of 2025. The company's robust financial structure, high liquidity, and strong order intake in its construction businesses position it well for the remainder of the year. Investors and financial professionals can expect Bouygues to continue its efforts to improve profitability and maintain its growth trajectory in 2025.

References

[1] https://finance.yahoo.com/news/bouygues-first-half-2025-results-053000888.html