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Bouygues SA (EN.PA)

Paris - Paris Delayed price. Currency in EUR
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33.80+0.32 (+0.96%)
As of 12:13PM CET. Market open.
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Previous close33.48
Open33.50
Bid0.00 x 0
Ask0.00 x 0
Day's range33.50 - 33.91
52-week range22.27 - 41.32
Volume198,064
Avg. volume1,102,750
Market cap12.86B
Beta (5Y monthly)0.95
PE ratio (TTM)20.83
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.70 (5.08%)
Ex-dividend date09 Sep 2020
1y target estN/A
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Press releases
  • Globe Newswire

    BOUYGUES: Senior executive appointments at Bouygues Immobilier and Bouygues Construction

    Press release – Paris, 19/11/2020 Senior executive appointments at Bouygues Immobilier and Bouygues Construction From 7 December 2020, Bernard Mounier, currently Deputy CEO of Bouygues Construction with responsibility for Bouygues Bâtiment France Europe, will join Bouygues Immobilier alongside Pascal Minault in order to prepare to succeed him. Bouygues Immobilier’s Board of Directors will meet at the appropriate time to appoint Bernard Mounier as Chairman as of 1 March 2021. On 1 April 2021, Pascal Minault, currently Chairman of Bouygues Immobilier, will join Bouygues Construction alongside Philippe Bonnave in order to prepare to succeed him. Bouygues Construction’s Board of Directors will then be asked to appoint Pascal Minault as CEO on 1 July 2021, then as Chairman and CEO at its meeting in August 2021. Bernard Mounier, 61, joined the Bouygues group in 1983 as a works supervisor. After holding various operational and executive positions within Bouygues Construction in the Paris region, he was appointed Chairman of Bouygues Bâtiment Ile de France in 2015. On 1 September 2018 he was appointed Deputy CEO of Bouygues Construction with responsibility for Bouygues Bâtiment France Europe and Purchasing policy. He is a member of Bouygues Construction’s Executive Committee. Pascal Minault, 57 years old, a graduate of Ecole Polytechnique, Ecole Nationale des Ponts et Chaussées and Collège des Ingénieurs, joined the Bouygues group in 1986. There, he gained extensive experience of civil works, building and property development in France and abroad, especially Hong Kong, the UK and Switzerland, where he has spent over 15 years in all. He was appointed CEO of Bouygues Entreprises France Europe in 2015, overseeing building and property development activities in the French regions and Europe (excluding the UK). Pascal Minault was appointed Chairman of Bouygues Immobilier in February 2019. About Bouygues                                                                                                                                                                                   Bouygues is a diversified services group operating in over 90 countries with 130,000 employees all working to make life better every day. Its business activities in construction (Bouygues Construction, Bouygues Immobilier, Colas), media (TF1) and telecoms (Bouygues Telecom) are able to drive growth since they all satisfy constantly changing and essential needs. PRESS CONTACT: presse@bouygues.com • Tel.: +33 (0)1 44 20 12 01 BOUYGUES SA • 32 avenue Hoche • 75378 Paris CEDEX 08 • bouygues.com    Attachment CP BYSA_nominations_19112020_VF_final_VA

  • Globe Newswire

    BOUYGUES: Nine-month 2020 results

    PRESS RELEASE – PARIS, 19/11/2020 Nine-month 2020 results GROUP Very good Q3 2020 Current operating profit: €813 million, up 22% vs Q3 2019Current operating margin: 8%, up 1.5 pts vs Q3 2019 Robust financial situation and high liquidityOutlook revised upwards for H2 2020 CONSTRUCTION BUSINESSES Backlog at a very high level  Return to normal levels of activity in most countriesSignificantly positive current operating profit in Q3 2020: €570 million vs current operating loss of €437 million in H1 2020 TF1 Very good performance of the broadcasting segment in Q3 2020 BOUYGUES TELECOM Good commercial performanceSales from services and EBITDA after Leases both up 7% year-on-year through the first nine monthsFree cash flow objective of around €250 million confirmed for 2020 KEY FIGURES (€ million)9-month 20199-month 2020Change Q3 2019Q3 2020ChangeSales27,60124,948-10%a 10,15510,1900%Current operating profit1,118681-€437m 665813+€148mCurrent operating margin4.1%2.7%-1.4 pts 6.5%8%+1.5 ptsOperating profit1,168b636c-€532m 673812+€139mNet profit attributable to the Group848283-€565m 623527-€96m        Net surplus cash (+)/ net debt (-)(4,643)(3,661)+€982m     (a) Down 9% like-for-like and at constant exchange rates (b) Including net non-current income of €50m (c) Including net non-current charges of €45m The Group’s results in the first nine months of 2020 reflect a significant improvement in activity and profitability in the third quarter, after a first half substantially impacted by the crisis linked to the Covid-19 pandemic. Sales were €24.9 billion, down 10% year-on-year for the first nine months. They improved considerably in the third quarter (up 1%1 after being down year-on-year 8%1 in first-quarter 2020 and down 21%1 in second-quarter 2020). This performance was driven by a catch-up of activity in the construction businesses and in advertiser spending at TF1, as well as by sustained growth in sales from services at Bouygues Telecom. Current operating profit in the first nine months of 2020 was €681 million versus a current operating loss of €132 million in first-half 2020, and the current operating margin was 2.7% versus -0.9% in first-half 2020.Net profit attributable to the Group recovered significantly to reach €283 million in the first nine months of 2020, compared to a first-half net loss of €244 million. This figure included a contribution of €51 million from Alstom, versus €238 million in the first nine months of 2019. Group profitability improved substantially in third-quarter 2020 and was better than expectedThe Group reported current operating profit of €813 million, up €148 million (+22%) from third-quarter 2019. The current operating margin was 8%, up 1.5 points over the period. This performance reflected: A catch-up of activity in the construction businesses, mainly in France, as well as savings measures and compensations linked to worksites shutdown in the second quarter 2020;A return in advertiser spending at TF1, combined with savings on programming costs;Robust growth in sales and EBITDA after Leases at Bouygues Telecom. The Group benefits from a high level of liquidity and a particularly robust financial structure Available cash reached €10.1 billion at end-September 2020, with €2.4 billion in cash and €7.7 billion in unused medium- and long-term credit facilities, of which €7.1 billion contain no financial covenants.Net debt was €3.7 billion at end-September 2020, €982 million less than at end-September 2019. It does not yet include the sale of 11 million Alstom shares for €450 million, the acquisition of EIT, expected to be closed by early 2021, and the first installment of €90 million for 5G frequencies2.Net gearing3 was 32% versus 41% at end-September 2019.  OUTLOOK In some countries where the Group operates, a deteriorating public-health situation caused by Covid-19 has resulted in the reintroduction of lockdown measures, making ongoing adjustments necessary. To date, the business segments are continuing their operational activities. The outlook given below assumes that there will be no further deterioration due to the health crisis. The very good third-quarter 2020 results confirm the Group’s return to significant profitability, allowing the upgrade of the outlook for the second half of 2020.The Group now expects the current operating margin in second-half 2020 to be slightly higher than in second-half 2019. As a reminder, the Group was expecting significant profitability in the second half of 2020, although without reaching the particularly high levels of the second half of 2019. Bouygues Telecom is raising its guidance for sales from services and maintaining its annual free cash flow objective, therefore confirming its decision to maintain a high level of investment to strengthen the quality of its networks.Its objectives for 2020 are: Growth in sales from services estimated between 5% and 6% (versus around 4% previously), despite the sharp decline in roaming revenues due to Covid-19; Gross capex of €1.25 billion (including expenditures necessary for the integration of EIT but excluding the acquisition of 5G frequencies);Free cash flow of around €250 million.                                                                         Given the ongoing uncertainty of the evolution of the Covid-19 pandemic, TF1 has not set new guidance for 2020. The Group will hold its Climate Markets Day on 16 December 2020, during which it will issue, for each of its business segments, a 2030 greenhouse gas emissions reduction target compatible with the Paris Agreement (limiting global warming to 1.5°C), together with action plans. DETAILED ANALYSIS BY SECTOR OF ACTIVITY CONSTRUCTION BUSINESSES The backlog in the construction businesses reached the very high level of €33.5 billion at end-September 2020, up 3%4 year-on-year and close to the record level of September 2018 (€33.8 billion), providing good visibility on future activity. In France, the backlog was slightly down, by 1%5, to €13.9 billion, impacted by Covid-19 and municipal elections. The backlog at Bouygues Construction was stable at €8.5 billion.The slight decrease of 1% in the backlog at Colas reflected sustained growth in the Rail sector, which almost entirely offsets an 8% decline in the Roads activities in mainland France. This decrease is related to the slow restart in bids and contracts despite government measures to support local authorities. The 3% decrease in the backlog at Bouygues Immobilier was explained by lower reservations due to lower supply, affected by a slower-than-expected resumption of the issuance of building permits. Individual buyers have also been hit by tighter terms for home loans. However, the decrease has been mitigated by the block sale of 1,749 lots to CDC Habitat (341 lots in third-quarter 2020). Internationally, the construction businesses’ backlog was up 6%6 year-on-year to €19.6 billion at end‑September 2020, boosted by an increase in the backlogs of Bouygues Construction and Colas of 7% and 4% respectively, versus end-September 2019. This good commercial performance was driven by Civil Works (contract extensions in Australia and the United Kingdom in particular), Energies & Services, and Rail (including the first urban track contract in Canada won by Colas). International business represented 62% of the combined backlog of Bouygues Construction and Colas at end-September 2020, versus 61% a year earlier. While they were hit hard by the Covid-19 pandemic in first-half 2020, the construction businesses returned to profitability over the first nine months of 2020. Sales were €18.9 billion in the first nine months of 2020, down 12% year-on-year. Activity rebounded strongly in the third quarter compared to the first half of the year (down 1% in third-quarter 2020 compared to third-quarter 2019 versus down 19% in first-half 2020 compared to first-half 2019), boosted by both a catch-up in activity during the summer in France and a return to normal levels of activity in most countries. The construction businesses reported current operating profit of €133 million in the first nine months of 2020, versus a current operating loss of €437 million in first-half 2020. The operating margin of the construction businesses turned positive at 0.7% versus -4% in the first half. The improvement was due to strong activity in third-quarter resulting in better fixed costs dilution, as well as cost-saving measures taken by the business segments, and compensations for worksites shutdown in second-quarter 2020. Nine-month 2020 operating profit of €72 million included non-current charges of €61 million at Colas related to the reorganization of the Roads activities in France and the continued dismantling of the Dunkirk site, versus non-current charges of €10 million in the first nine months of 2019. TF1 TF1’s results in the first nine months of the year included both the effects of the Covid-19 pandemic during the first half and the sharp upturn in the broadcasting activity in third-quarter. Sales in the first nine months of the year were €1,361 million, down 16% year-on-year. Advertising revenue rose 7.5% in third-quarter 2020 compared to third-quarter 2019, with a 16‑minute7 year-on-year increase in TV viewing time and a rebound in advertiser spending in several sectors. Current operating profit in the first nine months of 2020 was €126 million, down €58 million year-on-year, versus a decrease of €95 million in first-half 2020 compared to first-half 2019. This improvement reflected higher third-quarter sales and additional savings, notably on programming costs (€138 million over the first nine months of 2020, of which €31 million in third-quarter). BOUYGUES TELECOM Bouygues Telecom continued its growth over the first nine months of 2020. The company had 12 million mobile plan customers excluding MtoM at end-September 2020, an increase of 455,000 new customers since the end of 2019, of which 181,000 were in the third quarter alone.Bouygues Telecom had 1.4 million FTTH customers at end-September 2020, with 378,000 new adds since the end of 2019, of which 169,000 were in the third quarter. The FTTH penetration rate continued to rise to 34% versus 22% a year earlier. The company had a total of 4.1 million fixed customers at end-September 2020. The roll-out of Bouygues Telecom’s FTTH network is accelerating with 15.8 million FTTH premises marketed at end-September 2020 versus 11.8 million at end-2019. The company is benefiting from its partnerships with CityFast in Very Dense Area and with Vauban Infrastructure Partners in Medium Dense Area. In PIN (Public Initiative Networks) area, the company decided to significantly increase its number of premises marketed. As a result, Bouygues Telecom raises its target to 27 million premises marketed by end-2022 versus 22 million previously announced. Sales in the first nine months of 2020 were €4,675 million, up 6%, driven by 7% growth in sales from services despite a €63-million8 fall in roaming over the period. This reflects growth in both the mobile and fixed customer base and a rise in ABPU. Mobile ABPU, restated for the impact of roaming, rose €0.4 year-on-year to €20.3 per customer per month9, while fixed ABPU rose €1.5 year-on-year to €28.1 per customer per month. Other sales were up slightly by 1% in the first nine months of 2020 versus the first nine months of 2019, following the resumption of network roll-out and the sales of handsets after the end of the first lockdown.Sales from services increased 5% in third-quarter 2020 versus third-quarter 2019, sustained by strong growth in sales from fixed services, up 10%, and higher sales from mobile services, up 3%, despite the negative impact of roaming. EBITDA after Leases was up €73 million year-on-year at €1,123 million, a rise of 7%. It included non-recurrent charges of €20 million due to brand repositioning and related advertising campaigns in first-quarter 2020, plus €20 million of Covid-19-related costs in first-half 2020. Despite the fall in roaming, the EBITDA after Leases margin was stable versus the first nine months of 2019 at 30.9%. Restated for the impact of roaming, the EBITDA after Leases margin was 31.9%8. Current operating profit in the first nine months of 2020 was €444 million, up €39 million year-on-year. Operating profit was down slightly by €5 million year-on-year to €460 million due to lower non-current income (€16 million in the first nine months of 2020 versus €60 million a year earlier, mainly related to fewer disposals of mobile sites). Gross capex was €837 million in the first nine months of 2020, up €103 million year-on-year, linked to the strategy of enhancing network quality. Disposals over the same period amounted to €222 million, much of which (€185 million) was related to the sale of FTTH premises to SDAIF in first-half 2020. Bouygues Telecom participated in the 5G auction in September 2020, acquiring a 70 MHz block of 3.5 GHz spectrum which doubled its portfolio of frequencies for a reasonable price of €602 million. As a result, Bouygues Telecom now has nearly a quarter of the available spectrum in France.True to its pragmatic approach, Bouygues Telecom will roll out its 5G network gradually in line with benefits to customers which will materialize in two main stages. In the first stage, the capacity will increase to maintain good service quality in very dense areas where data consumption is very intense (+40% a year8). In the second stage, 5G will facilitate new services for BtoC and especially for BtoB customers, thanks to its new features (low latency, better bandwidth, ability to connect many objects, etc.).To roll-out its 5G network, Bouygues Telecom has decided simultaneously to install new antennas, using the newly acquired 3.5 GHz frequency band, and to gradually migrate existing 4G frequency bands to 5G.At the same time, the company will continue to densify its network in terms of both capacity and coverage, especially in very dense areas which is necessary for both 5G and 4G. The goal is to have over 28,000 sites by 2023.Bouygues Telecom will open its 5G network for users on 1 December 2020, with the objective of achieving national coverage within a year.                                                                                                                        Regarding the acquisition of EIT, employee representative bodies have been consulted and the French Competition Authority has been notified. Bouygues Telecom is confident of closing the transaction by early 2021. ALSTOM Alstom’s contribution to Bouygues' net profit in the first nine months of 2020 was €51 million, versus a contribution of €238 million in the first nine months of 2019. The contribution in the first nine months of 2019 included a net capital gain of €172 million on Bouygues' sale of 13% of Alstom’s share capital on 12 September 2019. The €87 million net capital gain on Bouygues’ sale of 11 million Alstom shares, representing 4.8% of the share capital, following settlement on 3 November of the forward sale transaction with BNP Paribas, was not recorded in the financial statements for the first nine months of 2020. The capital gain will be recognized in fourth-quarter 2020. In addition, on 17 November, Bouygues announced the sale of a portion of its preferential subscription rights to participate in the Alstom capital increase, which was announced on 16 November 2020.The proceeds will be fully reinvested by Bouygues to fund the exercise of its remaining Alstom preferential subscription rights, therefore limiting the dilutive effect. This transaction confirms Bouygues’ support for Alstom’s strategy and for the contemplated acquisition of Bombardier Transportation, without committing additional capital.It will result in the recognition of a net dilution profit of around €30 million that will be booked to Bouygues’ fourth quarter 2020 results. As part of this transaction, Bouygues has made the commitment to keep its Alstom shares until 7 March 2021.  Following this capital increase, Bouygues will retain a stake of around 8% in Alstom. FINANCIAL SITUATION During the first nine months of 2020, Bouygues’ goal has been to secure and strengthen its cash position, and more broadly, its financial resources. It renewed its medium- and long-term credit facilities as they expired, without financial covenants. It also successfully completed a €1-billion bond issue in April, and in July redeemed a bond issue in the same amount that had matured. At 30 September 2020, the average maturity of the Group’s bonds is 5.4 years and the average coupon on the bonds is 2.93%. The debt maturity schedule is evenly spread. The Group had €2.4 billion in cash at end-September 2020. Unused medium- and long-term credit facilities amounted to €7.7 billion, of which €7.1 billion contained no financial covenants.Total available cash was €10.1 billion at end-September 2020 versus €9.9 billion at end-September 2019. Net debt at 30 September 2020 was €3.7 billion, compared to €4.6 billion at the end of September 2019 and compared to €2.2 billion at the end of December 2019. In the first nine months of 2020, the very concerted effort by the business segments in dealing with the health crisis resulted in:- a limited €106 million decline in the Group’s free cash flow, which reached €541 million (compared to €647 million excluding Alstom's dividends in the first nine months of 2019), in a context where, over the same period, current operating profit declined by €437 million;- an approximate €1 billion reduction in the consumption of WCR related to operating activities. Net debt at 30 September 2020 does not include Bouygues Telecom’s acquisition of EIT, the first installment related to the 5G auction (€90 million) and the proceeds of the partial sale of 11 million Alstom shares (€450 million). GOVERNANCE The Group has decided to make the following senior executive appointments at Bouygues Immobilier and Bouygues Construction. From 7 December 2020, Bernard Mounier, currently Deputy CEO of Bouygues Construction with responsibility for Bouygues Bâtiment France Europe, will join Bouygues Immobilier alongside Pascal Minault, Chairman of Bouygues Immobilier, in order to prepare to succeed him. Bouygues Immobilier’s Board of Directors will meet at the appropriate time to appoint him as Chairman as of 1 March 2021. On 1 April 2021, Pascal Minault will join Bouygues Construction alongside Philippe Bonnave in order to prepare to succeed him. Bouygues Construction’s Board of Directors will then be asked to appoint Pascal Minault as CEO of Bouygues Construction on 1 July 2021, then as Chairman and CEO at its meeting in August. Philippe Bonnave will continue to serve as Chairman of Bouygues Construction between 1 July and the Board meeting in August. These transition periods will enable Bernard Mounier and Pascal Minault to prepare to assume their new responsibilities in the best possible conditions. FINANCIAL CALENDAR 16 December 2020: Climate Markets Day (2.30pm CET)18 February 2021: Full-year 2020 results (7.30am CET)  The financial statements have been subject to a limited review by the statutory auditors and the corresponding report has been issued.You can find the full financial statements and notes to the financial statements on www.bouygues.com/finance/results. The results presentation conference call for analysts will start at 9am (CET) on 19 November 2020. Details on how to connect are available on www.bouygues.com.The results presentation will be available before the conference call starts on www.bouygues.com/finance/investors presentations.   ABOUT BOUYGUES Bouygues is a diversified services group operating in over 90 countries with 130,500 employees all working to make life better every day. Its business activities in construction (Bouygues Construction, Bouygues Immobilier, Colas) media (TF1) and telecoms (Bouygues Telecom) are able to drive growth since they all satisfy constantly changing and essential needs. INVESTORS AND ANALYSTS CONTACT:investors@bouygues.com • Tel.: +33 (0)1 44 20 10 79 PRESS CONTACT:presse@bouygues.com • Tel.: +33 (0)1 44 20 12 01 BOUYGUES SA • 32 avenue Hoche • 75378 Paris CEDEX 08 • www.bouygues.com NINE-MONTH 2020 BUSINESS ACTIVITY BACKLOGAT THE CONSTRUCTION BUSINESSES(€ million)End-September 20192020ChangeBouygues Construction21,16022,063+4%Bouygues Immobilier2,2452,192-2%Colas9,0849,274+2%Total32,48933,529+3%BOUYGUES CONSTRUCTIONORDER INTAKE(€ million)9-month 20192020ChangeFrance3,5503,185-10%International4,5125,756+28%Total8,0628,941+11%BOUYGUES IMMOBILIERRESERVATIONS(€ million)9-month 20192020ChangeResidential property1,4081,177-16%Commercial property44121NmTotal1,4521,298-11%COLASBACKLOG(€ million)End-September 20192020ChangeMainland France3,2923,260-1%International and French overseas territories5,7926,014+4%Total9,0849,274+2%TF1AUDIENCE SHAREa End-September 20192020ChangeTotal32.1%31.8%-0.3 pts (a) Source: Médiamétrie – women under 50 who are purchasing decision-makers BOUYGUES TELECOMCUSTOMER BASE (‘000) End-Dec 2019End-Sept 2020ChangeMobile customer base excl. MtoM11,95812,336+378Mobile plan base excl. MtoM11,54311,999+455Total mobile customers17,80018,450+650Total fixed customers3,9164,053+137 9-MONTH 2020 FINANCIAL PERFORMANCE    CONDENSED CONSOLIDATED INCOME STATEMENT (€ million)9-month 20199-month 2020ChangeSales27,60124,948-10%aCurrent operating profit1,118681-€437mOther operating income and expenses50b(45)c-€95mOperating profit1,168636-€532mCost of net debt(162)(132)+€30mInterest expense on lease obligations(42)(40)+€2mOther financial income and expenses19(19)-€38mIncome tax(325)(203)+€122mShare of net profits of joint ventures and associates286109-€177mo/w Alstom23851-€187mNet profit from continuing operations944351-€593mNet profit attributable to non-controlling interests(96)(68)+€28mNet profit attributable to the Group848283-€565m (a) Down 9% like-for-like and at constant exchange rates (b) Including non-current charges of €10m at Bouygues Construction related to restructuring costs and non-current income of €60m at Bouygues Telecom mainly related to the disposal of mobile sites (c) Including non-current charges of €61m at Colas related to the reorganization of the roads activities in France and the continued dismantling of the Dunkirk site and non-current income of €16m at Bouygues Telecom mainly related to the disposal of mobile sites    CALCULATION OF EBITDA AFTER LEASESa (€ million)9-month 20199-month 2020ChangeCurrent operating profit1,118681-€437mInterest expense on lease obligations(42)(40)+€2mNet depreciation and amortization expense on property, plant and equipment and intangible assets1,2781,342+€64mCharges to provisions and impairment losses, net of reversals due to utilization171119-€52mReversals of unutilized provisions and impairment losses and other(173)(194)-€21mEBITDA after Leasesa2,3521,908-€444m (a) See glossary for definitions       SALES BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeForex effectScope effectlfl & constant fxcConstruction businessesa21,58318,928-12%+0.1%+0.4%-12%o/w Bouygues Construction9,8998,611-13%-0.4%0.0%-13%o/w Bouygues Immobilier1,6101,323-18%+0.1%0.0%-18%o/w Colas10,1829,085-11%+0.5%+0.8%-9%TF11,6151,361-16%0.0%-0.1%-16%Bouygues Telecom4,4264,675+6%0.0%-0.2%+6%Bouygues SA and other145137Nm--NmIntra-Group eliminationsb(276)(244)Nm--NmGroup sales27,60124,948-10%0.0%+0.3%-9%o/w France16,04314,306-11%0.0%+0.7%-10%o/w international11,55810,642-8%+0.1%-0.2%-8% (a) Total of the sales contributions (after eliminations within the construction businesses)(b) Including intra-Group eliminations of the construction businesses(c) Like-for-like and at constant exchange rates    CONTRIBUTION TO GROUP EBITDA AFTER LEASES BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeConstruction businesses980546-€434mo/w Bouygues Construction39579-€316mo/w Bouygues Immobilier32(5)-€37mo/w Colas553472-€81mTF1328253-€75mBouygues Telecom1,0501,123+€73mBouygues SA and other(6)(14)-€8mGroup EBITDA after Leases2,3521,908-€444m   CONTRIBUTION TO GROUP CURRENT OPERATING PROFIT/(LOSS) BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeConstruction businesses545133-€412mo/w Bouygues Construction28019-€261mo/w Bouygues Immobilier42(10)-€52mo/w Colas223124-€99mTF1184126-€58mBouygues Telecom405444+€39mBouygues SA and other(16)(22)-€6mGroup current operating profit1,118681-€437m    CONTRIBUTION TO GROUP OPERATING PROFIT/(LOSS) BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeConstruction businesses53572-€463mo/w Bouygues Construction27019-€251mo/w Bouygues Immobilier42(10)-€52mo/w Colas22363-€160mTF1184126-€58mBouygues Telecom465460-€5mBouygues SA and other(16)(22)-€6mGroup operating profit1,168a636b-€532m (a) Including non-current charges of €10m at Bouygues Construction related to restructuring costs and non-current income of €60m at Bouygues Telecom mainly related to the capital gain on the sale of mobile sites (b) Including non-current charges of €61m at Colas related to the reorganization of the roads activities in France and the continued dismantling of the Dunkirk site and non-current income of €16m at Bouygues Telecom mainly related to the disposal of mobile sites CONTRIBUTION TO NET PROFIT/(LOSS) ATTRIBUTABLE TO THE GROUP BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeConstruction businesses3816-€375mo/w Bouygues Construction2265-€221mo/w Bouygues Immobilier20(18)-€38mo/w Colas13519-€116mTF15234-€18mBouygues Telecom251253+€2mAlstom23851-€187mBouygues SA and other(74)(61)+€13mNet profit attributable to the Group848283-€565mNET SURPLUS CASH (+)/NET DEBT (-) BY BUSINESS SEGMENT (€ million)End-Dec 2019End-Sept 2020ChangeBouygues Construction3,1132,297-€816mBouygues Immobilier(279)(434)-€155mColas(367)(838)-€471mTF1(127)(71)+€56mBouygues Telecom(1,454)(1,659)-€205mBouygues SA and other(3,108)(2,956)+€152mNet surplus cash (+)/Net debt (-) (2,222)(3,661)-€1,439mCurrent and non-current lease obligations(1,686)(1,592)+€94m (a) See glossary for definitions CONTRIBUTION TO NET CAPITAL EXPENDITURE BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeConstruction businesses304177-€127mo/w Bouygues Construction14967-€82mo/w Bouygues Immobilier73-€4mo/w Colas148107-€41mTF1161169+€8mBouygues Telecom638615-€23mBouygues SA and other22€0mGroup net capital expenditure1,105963-€142m     CONTRIBUTION TO GROUP FREE CASH FLOWa BY SECTOR OF ACTIVITY (€ million)9-month 20199-month 2020ChangeConstruction businesses400172-€228mo/w Bouygues Construction147(24)-€171mo/w Bouygues Immobilier(20)(18)+€2mo/w Colas273214-€59mTF111747-€70mBouygues Telecom205377+€172mBouygues SA and other266b(55)-€321mGroup free cash flowa988541-€447mExcluding €341m dividend from Alstom647541-€106m (a) See glossary for definitions(b) Including €341m dividend from Alstom THIRD-QUARTER 2020 FINANCIAL PERFORMANCE KEY FIGURES (€ million) Q3 2020Change vs Q3 2019Group sales 10,1900%Group current operating profit 813+€148mo/w Construction businesses 570+€97m       o/w Bouygues Construction 114+€13m      o/w Bouygues Immobilier 28+€15m      o/w Colas 428+€69mo/w TF1 58+€37mo/w Bouygues Telecom 191+€16mCurrent operating margin 8%+1.5 ptsGroup operating profit 812+€139mNet profit attributable to the Group 527-€96m AS A REMINDER: ESTIMATED IMPACT OF COVID-19 IN FIRST-HALF 2020 ESTIMATED IMPACT OF COVID-19 IN FIRST-HALF 2020 (€ million) SalesCurrent operating profitConstruction businesses-2,460-530o/w Bouygues Construction-1,250-290o/w Bouygues Immobilier-400-50o/w Colas-810-190TF1-250-100Bouygues Telecom-70-20 The estimated impact by business segment shown above is based on first-half 2019 reported figures or the 2020 forecast. Due to the resumption of the Group’s activities, it is no longer possible in the third quarter to quantify separately the impact of Covid-19 on the Group’s year-on-year performance. GLOSSARY 4G consumption: data consumed on 4G cellular networks, excluding Wi-Fi. 4G users: customers who have used the 4G network during the last three months (Arcep definition). ABPU (Average Billing Per User):- In the mobile segment, it is equal to the total of mobile sales billed to customers (BtoC and BtoB) divided by the average number of customers over the period. It excludes MtoM SIM cards and free SIM cards.- In the fixed segment, it is equal to the total of fixed sales billed to customers (excluding BtoB) divided by the average number of customers over the period. BtoB (business to business): when one business makes a commercial transaction with another. Backlog (Bouygues Construction, Colas): the amount of work still to be done on projects for which a firm order has been taken, i.e. the contract has been signed and has taken effect (after notice to proceed has been issued and suspensory clauses have been lifted). Backlog (Bouygues Immobilier): sales outstanding from notarized sales plus total sales from signed reservations that have still to be notarized.Under IFRS 11, Bouygues Immobilier’s backlog does not include sales from reservations taken via companies accounted for by the equity method (co-promotion companies where there is joint control). Construction businesses: Bouygues Construction, Bouygues Immobilier and Colas. EBITDA after Leases: current operating profit  after taking account of the interest expense on lease obligations, before (i) net depreciation and amortization expense on property, plant and equipment and intangible assets, (ii) net charges to provisions and impairment losses, and (iii) effects of acquisitions of control or losses of control. Those effects relate to the impact of remeasuring previously-held interests or retained interests. EBITDA margin after Leases (Bouygues Telecom): EBITDA after Leases as a proportion of sales from services. Free cash flow: net cash flow (determined after (i) cost of net debt, (ii) interest expense on lease obligations and (iii) income taxes paid), minus net capital expenditure and repayments of lease obligations. It is calculated before changes in working capital requirements (WCR) related to operating activities and excluding 5G frequencies. Free cash flow after WCR: net cash flow (determined after (i) cost of net debt, (ii) interest expense on lease obligations and (iii) income taxes paid), minus net capital expenditure and repayments of lease obligations, and after changes in working capital requirements (WCR) related to operating activities.It is calculated after changes in working capital requirements (WCR) related to operating activities and excluding 5G frequencies. Fixed churn: the total number of cancellations in a given month, divided by the total number of subscribers at the end of the previous month. FTTH (Fiber to the Home): optical fiber from the central office (where the operator’s transmission equipment is installed) all the way to homes or business premises (Arcep definition). FTTH penetration rate: the FTTH share of the total fixed subscriber base (the number of FTTH customers divided by the total number of fixed customers) FTTH premises secured: the horizontal deployed, being deployed or ordered up to the concentration point. FTTH premises marketed: the connectable sockets, i.e. the horizontal and vertical deployed and connected via the concentration point. Growth in sales like-for-like and at constant exchange rates:- at constant exchange rates: change after translating foreign-currency sales for the current period at theexchange rates for the comparative period;- on a like-for-like basis: change in sales for the periods compared, adjusted as follows: for acquisitions, by deducting from the current period those sales of the acquired entity that have no equivalent during the comparative period;for divestments, by deducting from the comparative period those sales of the divested entity that have no equivalent during the current period. Mobile churn: the total number of cancellations in a given month, divided by the total number of subscribers at the end of the previous month. MtoM: machine to machine communication. This refers to direct communication between machines or smart devices or between smart devices and people via an information system using mobile communications networks, generally without human intervention. Net surplus cash/(net debt): the aggregate of cash and cash equivalents, overdrafts and short-term bank borrowings, non-current and current debt, and financial instruments. Net surplus cash/(net debt) does not include non-current and current lease obligations. A positive figure represents net surplus cash and a negative figure represents net debt. The main components of change in net debt are presented in Note 7 to the consolidated financial statements at 30 September 2020, available at bouygues.com. Order intake (Bouygues Construction, Colas): a project is included under order intake when the contract has been signed and has taken effect (the notice to proceed has been issued and all suspensory clauses have been lifted) and the financing has been arranged. The amount recorded corresponds to the sales the project will generate. PIN: Public-Initiative Network. Reservations by value (Bouygues Immobilier): the € amount of the value of properties reserved over a givenperiod.- Residential properties: the sum of the value of unit and block reservation contracts signed by customers andapproved by Bouygues Immobilier, minus registered cancellations.- Commercial properties: these are registered as reservations on notarized sale.For co-promotion companies: if Bouygues Immobilier has exclusive control over the co-promotion company (full consolidation), 100% of amounts are included in reservations;if joint control is exercised (the company is accounted for by the equity method), commercial activity is recorded according to the amount of the equity interest in the co-promotion company. Sales from services (Bouygues Telecom) comprise: - Sales billed to customers, which include:-      In Mobile: For BtoC customers: sales from outgoing call charges (voice, texts and data), connection fees, and value-added services.For BtoB customers: sales from outgoing call charges (voice, texts and data), connection fees, and value-added services, plus sales from business services.Machine-To-Machine (MtoM) sales.Visitor roaming sales.Sales generated with Mobile Virtual Network Operators (MVNOs). -      In Fixed: For BtoC customers: sales from outgoing call charges, fixed broadband services, TV services (including Video on Demand and catch-up TV), and connection fees and equipment hire.For BtoB customers: sales from outgoing call charges, fixed broadband services, TV services (including Video on Demand and catch-up TV), and connection fees and equipment hire, plus sales from business services.Sales from bulk sales to other fixed line operators. - Sales from incoming Voice and Texts.- Spreading of handset subsidies over the projected life of the customer account, required to comply withIFRS 15.- Capitalization of connection fee sales, which is then spread over the projected life of the customer account. Other sales (Bouygues Telecom): difference between Bouygues Telecom’s total sales and sales from services.It comprises:- Sales from handsets, accessories and other- Roaming sales- Non-telecom services (construction of sites or installation of FTTH lines)- Co-financing of advertising Very-high-speed: subscriptions with peak downstream speeds higher or equal to 30 Mbit/s. Includes FTTH, FTTLA, 4G box and VDSL2 subscriptions (Arcep definition). 1 Like-for-like and at constant exchange rates 2 Including the cost of releasing the frequencies 3 Net debt / shareholders’ equity 4 Up 3% at constant exchange rates and excluding principal disposals and acquisitions 5 Down 1% at constant exchange rates and excluding principal disposals and acquisitions 6 Up 6% at constant exchange rates and excluding principal disposals and acquisitions 7 Among individuals aged 4+ (to 3 hours and 18 minutes) 8 Company estimates 9 €19.5 without restatement Attachment PR_financial results_9M_2020_VDEF

  • Globe Newswire

    Bouygues: Bouygues announces the successful sale of Alstom preferential subscription rights

    Press release – Paris, 17/11/2020 Bouygues announces the successful sale of Alstom preferential subscription rights Not for distribution, directly or indirectly, in Canada, Australia or Japan. Bouygues S.A. (“Bouygues”) announces the successful sale of 16.45 million of Alstom S.A. (“Alstom”) preferential subscription rights (the “Rights”) at a price of 2.95 euros per Right (i.e., a total amount of c.49 million euros) in an accelerated bookbuilt offering to qualified investors (the “Offering”). Bouygues sold the Rights in a proportion allowing to finance the exercise of its remaining Alstom preferential subscription rights and to participate in Alstom capital increase with preferential subscription rights (the “Rights Issue”) by way of a cash-neutral transaction. This transaction confirms Bouygues’ support to Alstom strategy and to the contemplated acquisition of Bombardier Transportation without committing additional capital. Settlement of the Offering is expected to take place on 19 November, 2020. Following the completion of the Rights Issue, Bouygues' ownership will amount to c. 8% of Alstom's share capital. Alstom shares are listed on the regulated market of Euronext in Paris (ISIN code: FR0010220475). Alstom preferential subscription rights are listed on the regulated market of Euronext in Paris (ISIN code: FR0014000IN0). Not for distribution, directly or indirectly, in Canada, Australia or Japan. DISCLAIMER This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or subscribe any securities and does not constitute a public offer other than the offering to qualified investors in any jurisdiction, including France. The sale of the Rights does not constitute a public offer other than the offering to qualified investors only, including in France. No communication and no information in respect of the sale by Bouygues of Alstom preferential subscription rights may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such steps would be required. The offer or sale of the Alstom preferential subscription rights on behalf of Bouygues may be subject to specific legal or regulatory restrictions in certain jurisdictions. Bouygues, its shareholders and its affiliates take no responsibility for any violation of any such restrictions by any person. This press release is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (the “Prospectus Regulation”). This press release and the information contained herein do not, and shall not, constitute an offer to sell or to subscribe, nor a solicitation to offer to purchase or to subscribe securities in any jurisdiction. In France, the offer and sale of the Alstom preferential subscription rights will be carried out through an offer to the benefit of qualified investors, as defined in Article 2(1)(e) of the Prospectus Regulation and in accordance with article L.411-2, 1° of the French Monetary and Financial Code and other applicable laws and regulations. There will be no public offering in France. With respect to the member states of the European Economic Area (the "Member States"), other than France, no action has been or will be taken in order to permit a public offer of the securities which would require the publication of a prospectus in one of such Member States. In Member States, this press release and any offer if made subsequently are directed exclusively at persons who are “qualified investors” and acting for their own account within the meaning of the Prospectus Regulation. In the United Kingdom, this press release is not an invitation nor an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000, as amended (FSMA). This press release is directed only at (i) persons outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order), (iii) persons referred to in Article 49(2) (a) to (d) of the Order (high net worth entities, non-registered associations, etc.) and (iv) other persons to whom this document may be lawfully communicated (all persons listed in (i), (ii), (iii) and (iv) above being referred to as Relevant Persons). The securities of Alstom described herein are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with Relevant Persons. Any person who is not a Relevant Person must not act or rely on this document or any of its contents. Not for distribution, directly or indirectly, in Canada, Australia or Japan. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States unless they are registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or exempt from registration. The preferential subscription rights of Alstom have not been and are not being registered under the Securities Act and neither Bouygues, nor any of its shareholders or its affiliates intend to register any portion of the proposed offering in the United States or to conduct a public offering of securities in the United States. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. Any investment decision to buy preferential subscription rights in Alstom must be made solely on the basis of publicly available information regarding Alstom. Such information is not the responsibility of Bouygues and has not been independently verified by Bouygues. This press release may not be published, forwarded or distributed, directly or indirectly, in Canada, Australia or Japan. ABOUT BOUYGUESBouygues is a diversified services group with a strong corporate culture whose businesses are organised around three sectors of activity: Construction, with Bouygues Construction (building & civil works and energies & services), Bouygues Immobilier (property development) and Colas (roads); Telecoms, with Bouygues Telecom, and Media, with TF1.   CONTACT INVESTISSEURS ET ANALYSTES :INVESTORS@bouygues.com • Tél. : +33 (0)1 44 20 10 79 CONTACT PRESSE :presse@bouygues.com • Tél. : +33 (0)1 44 20 12 01   BOUYGUES SA • 32 avenue Hoche • 75378 Paris CEDEX 08 • bouygues.com         Attachment Successful sale of Alstom preferential subscription rights by Bouygues_20201117