Half Year 2024 Bouygues SA Earnings Call Transcript
Key Points
- Bouygues (BOUYF) confirmed its 2024 outlook, expecting sales and current operating profit from activities to be slightly up compared to 2023.
- The construction backlog is at a very high level, providing good visibility for future business.
- Bouygues Telecom continues to show commercial dynamism in both fixed lines and mobile phones.
- The financial structure has improved significantly, with net debt reduced by EUR1.9 billion compared to the previous year.
- Sustainable initiatives, such as the partnership with the Solar Impulse Foundation, highlight Bouygues (BOUYF)'s commitment to environmental and energy transitions.
- Net income group share decreased by EUR39 million compared to the same period last year.
- Bouygues Immobilier is facing a very difficult market environment, with a 25% decline in backlog over the last 12 months.
- The current operating profit from activities (COPA) for the construction business stands at minus EUR21 million, reflecting seasonality and market challenges.
- Bouygues Telecom's mobile ABPU is stable but could decline by the end of 2024 due to a highly competitive market.
- Equans is undergoing a strategic shift, including pulling out of the New Build business in the UK, which may impact short-term revenue growth.
(spoken in foreign language) Good morning and welcome to the conference presenting Group Bouygues results for the first half year. This conference is recorded and your line will be on mute throughout the presentation. (Operator Instructions)
I'm going to give the floor to Olivier Roussat, Chief Executive Officer of the Bouygues Group. Mr. Roussat, you have the floor.
Ladies and gentlemen, good morning and thank you all for joining us for today's presentation of our half-year results. On usually, we will be during the second half yearly conference remotely because of the logistics involved in the opening ceremony of the Paris Olympic Game this evening. I'm going to comment these half-year results alongside Pascal Grange. And at the end of the presentation, we will take your questions with the heads of the various business segments.
I'm going to begin with the landmark events of the first half year. This is page 4 of your presentation. First to a general
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