French company Bouygues has reported a net profit attributable to the group of €186m ($201.1m) in the first half (H1) of 2024, marking a 17.3% year-on-year (YoY) decline from €225m in H1 2023.
Despite this, the French construction and engineering company saw a slight increase in sales, totalling €26.5bn, a 1% increase from €26.1bn in the same period last year.
This sales increase is attributed to contributions from Equans and Bouygues Construction, with like-for-like (LfL) sales and at constant exchange rates showing a 2% YoY increase.
Current operating profit from activities (COPA) also rose to €747m, up €20m from the previous year, mainly driven by Equans, where COPA increased by €57m YoY.
The group’s financial result improved to -€185m compared with -€201m in H1 2023.
This improvement was largely due to a higher level of net cash and the return on net cash, as the company’s debt is at fixed rates.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLfL and at constant exchange rates sales also increased by 1%.
Bouygues Construction’s sales rose by 4% YoY to €4.9bn in H1 2024, with a notable performance from International Building.
However, Bouygues Immobilier’s sales declined by 17% to €614m from €743m in H1 2023, reflecting a challenging market environment.
Residential property sales were down by 15% YoY, and Commercial segment property sales were almost non-existent.
Colas reported a marginal 1% increase in sales to €6.8bn in H1 2024, with Rail up by 7% and Roads by 1%, showing slight growth in France, North America, Europe, the Middle East, and Africa, but a decrease in the Asia-Pacific region.
At the end of June 2024, the backlog in the company’s Construction businesses reached €31.0bn, a 1% increase from €30.8bn in H1 2023.
The backlog for France increased, with Bouygues Construction up by 13% YoY and Colas by 6%.
COPA in the Construction businesses was €21m in H1 2024, down €14m YoY, and the COPA margin in the Construction businesses decreased by 0.1 points to -0.2%.
Net debt of the group at the end of June 2024 was €8.7bn, compared to €10.6bn at the end of June 2023.
