Earnings Release • Nov 14, 2008
Earnings Release
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The Bouygues Group reported consolidated sales of 24.1 billion euros in the first nine months of 2008, an increase of 13% on the previous year (12% like-on-like and at constant exchange rates).
| CONTRIBUTION OF BUSINESS AREAS TO SALES (€ million) |
9 months 2007 |
9 months 2008 |
Change % |
|---|---|---|---|
| Bouygues Construction | 5,811 | 6,730 | +16% |
| Bouygues Immobilier | 1,292 | 1,988 | +54% |
| Colas | 8,497 | 9,569 | +13% |
| TF1 | 1,959 | 1,867 | -5% |
| Bouygues Telecom | 3,521 | 3,750 | +7% |
| Holding company and other | 214 | 216 | ns |
| Total | 21,294 | 24,120 | +13% |
| France | 14,918 | 16,513 | +11% |
| International | 6,376 | 7,607 | +19% |
Bouygues Construction reported a 16% rise in sales (9% in France and 25% on international markets). Business thrived in France, especially in the building segment, while international sales were buoyed by ongoing work on major projects like the ports at Pusan (South Korea) and Tangiers (Morocco), the EPR nuclear power plant in Finland, the Gautrain project in South Africa and the Cyprus airports.
Business activity continued to be brisk, keeping the order book high at 12.5 billion euros, 16% more than at end-September 2007.
Bouygues Immobilier achieved a 54% increase in sales thanks to the high level of reservations in the last two years.
In a market that deteriorated considerably in the third quarter after an exceptional year for Bouygues Immobilier in 2007, reservations were sharply down year-on-year, falling by 22% to 950 million euros in the residential property segment and by 65% to 440 million euros in the commercial property segment. The order book amounted to 3.5 billion euros, slightly lower than at end-September 2007 (-5%), representing 15 months' sales.
Sales at Colas rose by 13% (9% in France and 18% on international markets). The order book amounted to 6.3 billion euros, 5% lower than at the end of September 2007 though still high.
At TF1, in an environment that remains difficult, overall sales dropped by 5% and core channel advertising revenue fell by 3%.
Bouygues Telecom reported a 6.5% increase in sales. Sales from network rose by a further 5.1% to 3,502 million euros despite an 8% cut in call termination charges and the regulation of roaming charges.
Bouygues Telecom attracted 466,000 new contract customers in the year to end-September, an increase of 7.1%. It had 9,327,000 customers at 30 September, 7,042,000 of them with call plans representing 75.5% of the customer base, 1.8 points more than at the same time last year.
The Group is financially robust thanks to a high level of liquidity and an evenly spread debt repayment schedule.
Earnings at end-September 2008 are expected to follow the same trend as in the first half of the year.
Earnings for the first nine months of 2008 will be released on 2 December 2008 at 5.45 pm.
| CONTRIBUTION OF BUSINESS AREAS TO SALES (€ million) |
Q3 2007 |
Q3 2008 |
Change % |
|---|---|---|---|
| Bouygues Construction | 2,099 | 2,282 | +9% |
| Bouygues Immobilier | 484 | 689 | +42% |
| Colas | 3,583 | 3,960 | +11% |
| TF1 | 536 | 515 | -4% |
| Bouygues Telecom | 1,228 | 1,293 | +5% |
| Holding company and other | 66 | 71 | ns |
| Total | 7,996 | 8,810 | +10% |
| France | 5,219 | 5,617 | +8% |
| International | 2,777 | 3,193 | +15% |
Press contact: +33 1 44 20 12 01 - [email protected]
Investor and analyst contact: +33 1 44 20 12 77 - [email protected]
www.bouygues.com
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