Bouygues Sa · EURONEXT:EN
Bouygues Sa — 9M 2024 Earnings Presentation
55 slides from Bouygues Sa's earnings presentation, Nov 5, 2024
Slide 1: Nine-Month 2024 Results
PRESENTATION PARIS • TUESDAY 5 NOVEMBER 2024 NINE-MONTH 2024 RESULTS CERN data centre - designed, built, operated and maintained by Equans
Slide 2: Forward-looking statements disclaimer
This presentation contains rounded figures, forward-looking information and statements about the Bouygues group and its businesses. Forward-looking statements may be identified by the use of words such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and sim
Slide 3: Contents: Highlights and key figures
Contents Highlights and key figures 3 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 4: Group highlights in 9M 2024
Group highlights Group outlook for 2024 confirmed: sales and in 9M 2024 COPA expected to be slightly up on 2023 Construction businesses: backlog at a very high level, providing visibility on future activity Equans: year-on-year increase in sales, COPA, margin from activities, and net cash, reflectin
Slide 5: Key figures in 9M 2024
Key figures in 9M 2024 Group sales and COPA up year-on-year, and net debt improving year-on-year a Group sales (€bn) Group COPA (€m) +0.6 +96 40.9 41.5 1,623 1,719 +1% 9M 2023 9M 2024 9M 2023 9M 2024 b Net profit attributable to the Group (€m) Group net debt (-) (€m) +22 665 687 -6,251 9M 2023 9M 20
Slide 6: Contents: Review of operations
Contents Review of operations 6 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 7: Construction businesses
REVIEW OF OPERATIONS Construction businesses Ben Guerir Teaching Hospital by Bymaro, a Bouygues Construction subsidiary in Morocco 7 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 8: Backlog in the construction businesses up 7% year-on-year
Backlog in the construction businesses up 7% year-on-year, reaching a very high level International backlog up 6% and backlog up 9% in France year-on-year 2.0 31.8 29.8 +7% 27.5 25.2 21.8 20.6 18.1 15.5 9.7 9.5 9.2 10.0 End-Sept 2021 End-Sept 2022 End-Sept 2023 End-Sept 2024 Installing the first rai
Slide 9: Backlog at a very high level, providing visibility on future activity
Backlog at a very high level, providing Backlog in the construction businesses (€bn) visibility on future activity Bouygues Construction backlog up €2.8bn year-on-year +7% a ● Order intake of €10.1bn factors in: 31.8 > Good momentum in the normal course of business (contracts <€100m), representing 4
Slide 10: Sales in the construction businesses
Sales in the construction businesses €m 9M 2024 9M 2023 Change b Sales a 20,187 19,996 +1% Bouygues Construction, up €359m year-on-year (+5%) o/w Bouygues Construction 7,569 7,210 +5% c ● Civil Works up 2% year-on-year, International Building up 17% year-on- o/w Bouygues Immobilier 963 1,109 -13% d
Slide 11: Current operating profit from activities in the construction businesses
Current operating profit/(loss) from activities in the construction businesses €m 9M 2024 9M 2023 Change b Sales a 20,187 19,996 +1% Bouygues Construction improving year-on-year o/w Bouygues Construction 7,569 7,210 +5% c d ● Current operating profit from activities up €29m year-on-year, at €219m o/
Slide 12: Equans
REVIEW OF OPERATIONS Equans An Equans solar farm in the Dominican Republic 12 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 13: Key figures at Equans
Key figures at Equans Robust commercial activity • Order intake at €14.1bn in 9M 2024, up in France and internationally > Several major contracts awarded in Q3 2024, including notably electrical and mechanical works for the health sector in Canada, and the fit-out of a data centre in the UK (each fo
Slide 14: Equans will continue to roll out its strategic plan
In 2024, Equans will continue to roll out its strategic plan 2024 OUTLOOK It will remain focused on improving performance in a supportive environment and CONFIRMED will continue to prioritise margins over volume growth The 2024 sales figure will be close to, yet slightly above, that of 2023. It will
Slide 15: Media
REVIEW OF OPERATIONS Media TF1+, the free-to-view streaming platform 15 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 16: Key figures at the TF1 group
Key figures at the TF1 group Strong audience share ● Audience share of 33% for WPDM<50a ● Audience share of 30% among individuals aged 25-49 Sales up 3% year-on-year ● Media €m 9M 2024 9M 2023 Change > Advertising revenue up 5% year-on-year, with TF1+ up 40%, confirming the a platform's appeal to ad
Slide 17: 2024 outlook for TF1 group confirmed
2024 outlook for TF1 group confirmed, despite a more challenging economic environment for the rest of the 2024 OUTLOOK year CONFIRMED • Keep growing in digital, building on the promising launch of TF1+ • Maintain a broadly stable current operating margin from activities • Continue to generate solid
Slide 18: Telecoms
REVIEW OF OPERATIONS Telecoms B.iG Bouygues Telecom’s new household brand 18 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 19: Strong performance in Fixed, in volume and value
Strong performance in Fixed, in volume and value Fixed customer base (millions of customers) and FTTH customer share 4.8 5.1 4.6 4.0 million 4.1 4.4 71% 79% FTTHa customers at end-September 2024 61% ● +408,000 FTTH customers in 9M 2024, o/w +159,000 in Q3 2024 48% 34% ● Strong and steady FTTH custom
Slide 20: Still competitive market environment in Mobile
Still competitive market environment in Mobile Mobile plan customer base excl. MtoM (millions of customers) 15.1 15.4 15.8 14.6 15.8 million 12.0 Mobile plan customers excluding MtoMa at end-September 2024 ● +246,000 customers in 9M 2024, o/w +170,000 in Q3 2024 (vs +217,000 in 9M 2023, o/w +108,000
Slide 21: Bouygues Telecom launches two new solutions (1/2)
Bouygues Telecom innovates and launches two unique and high-value solutions on the market, specifically designed for two new segments (1/2) B.iG A strategic pivot towards households New “Bbox + Mobile plans” pack interested in an optimal experience: high-quality connectivity, intended for households
Slide 22: Bouygues Telecom launches two new solutions (2/2)
Bouygues Telecom innovates and launches two unique and high-value solutions on the market, specifically designed for two new segments (2/2) B&YOU Pure fibre A new Fixed offer for a specific segment of digital customers New “Internet only” fibre offer interested in a high-performance connectivity, wi
Slide 23: Key figures at Bouygues Telecom
Key figures at Bouygues Telecom Sales billed to customers rose 5% year-on-year ● Total sales stable year-on-year, impacted by lower Other sales, which €m 9M 2024 9M 2023 Change mainly consist of handsets, accessories and built-to-suit sales Sales 5,714 5,700 0% a Sales from services 4,628 4,455 +4%
Slide 24: In 2024, Bouygues Telecom confirms it is aiming for
In 2024, Bouygues Telecom confirms it is aiming for: 2024 OUTLOOK CONFIRMED • An increase in sales billed to customers • EBITDA after Leases of above €2bn • Gross capital expenditure excluding frequencies at around €1.5bn Installation of a Btruck temporary antenna 24 ● NINE-MONTH 2024 RESULTS – BOUY
Slide 25: Acquisition of La Poste Telecom
Acquisition of La Poste Telecom ● In its press release dated 29 May 2024, Bouygues Telecom stated that it had been informed by SFR and La Poste of divergences between them concerning the terms and conditions of the transaction provided for in the exclusivity agreement signed by Bouygues Telecom with
Slide 26: Contents: Financial statements
Contents Financial statements 26 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 27: Condensed consolidated income statement
Condensed consolidated income €m 9M 2024 9M 2023 Change statement Sales 41,492 40,888 +1% a Current operating profit/(loss) from activities 1,719 1,623 +96 Amortisation and impairment of intangible assets recognised b c (68) (77) +9 in acquisitions (PPA) Current operating profit/(loss) 1,651 1,546 +
Slide 28: Change in net debt position in 9M 2024 (1/2)
Change in net debta position in 9M 2024 (1/2) in €m Net debt at 31/12/2023 Net debt at 30/09/2024 Change in Acquisitions/ shareholders’ disposalsb equity and otherc Dividendsd -214 -66 Operations and (6,251) other -813 Miscellaneous -1,130 items 0 (8,474) 9M 2023 (7,455)e -108 -37 -743 -1,555f -340g
Slide 29: Change in net debt position in 9M 2024 (2/2)
Change in net debta position in 9M 2024 (2/2) in €m Breakdown of operations Net cash flowb Net cash flow including lease expenses 2,954 Net capexc -434 2,520 Free cash flow Change in Repayment of before WCR operating WCR lease obligations -1,595 Frequencies and other 919 -6 Operations and other -2,0
Slide 30: A robust financial structure (1/2)
A robust financial structure (1/2) Very high level of liquidity at end-September 2024 Well-spread debt maturity schedule Liquidity (€bn) Debt maturity schedule at end-September 2024 (€bn) No covenants or rating clause on medium/long- 3 term facilities 2.7 2 €13.9bn 1 11.2 0 2024 2025 2026 2027 2028
Slide 31: A robust financial structure (2/2)
A robust financial structure (2/2) Net debt of €8.5bn at end-September 2024, vs €10.2bn at end-September 2023 Net gearing at 61% at end-September 2024, vs 74% at end-September 2023 End-Sept End-Dec End-Sept €m Change Change 2024 2023 2023 Shareholders' equity 13,954 14,112 -158 13,841 +113 Net surpl
Slide 32: Contents: Outlook
Contents Outlook 32 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 33: 2024 outlook for the Group confirmed
2024 outlook for the Group confirmed 2024 OUTLOOK The outlook below is based on information known to date CONFIRMED • Equans will continue to improve its results in line with its strategic Perform plan • Bouygues Immobilier will continue to face a challenging market environment, with low visibility
Slide 34: Calendar
Calendar FY 2024 results ● Thursday 6 March 2025, 7.30am CET Adidas Arena in La Chapelle neighbourhood, Paris, a project delivered by Bouygues Bâtiment Ile-de-France 34 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 35: Questions & answers
PRESENTATION PARIS • TUESDAY 5 NOVEMBER 2024 Questions & answers Destia, a Colas subsidiary in Finland
Slide 36: Contents: Annexes
Contents Annexes 36 ● NINE-MONTH 2024 RESULTS – BOUYGUES GROUP – 5 NOVEMBER 2024
Slide 37: Key figures at Bouygues Construction
Key figures at Bouygues Construction Order intakea (€bn) Backlog by region (end-September 2024) International +24% France 10.1 8.1 6% 8% France 30% +30% Asia-Pacific 7.1 Europe (excl. France) 5.4 26% Americas +11% Africa and Middle East 2.7 3.0 30% 9M 2023 9M 2024 For execution in over 3 years For e
Slide 38: Key figures at Colas
Key figures at Colas Backlog (€bn) International and a French overseas territories -4% Mainland France 13.4 12.8 10.1 9.2 -9% b 3.3 3.6 +10% Colas upgrades a sports centre in Rollencourt Park in Liévin, northern France End-Sept 2023 End-Sept 2024 9M 2024 sales by activity Colas – key figures Road co
Slide 39: Key figures at Bouygues Immobilier
Key figures at Bouygues Immobilier Reservationsa (€bn) Residential property Commercial property +14% 1.0 0.9 0.0 0.0 The head office of SNCF Voyageurs in Saint-Denis, near Paris, a project delivered by nm Bouygues Immobilier 0.9 1.0 +17% Bouygues Immobilier – key figures €m 9M 2024 9M 2023 Change 9M
Slide 40: Key indicators at Bouygues Telecom
Key indicators at Bouygues Telecom Sales in €m/base in thousands/ABPU in € Q3 2024 Q2 2024 Q1 2024 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2023 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Sales billed to customers 1,560 1,541 1,522 5,912 1,506 1,492 1,470 1,444 5,619 1,445 1,426 1,379 1,368 Sales from services 1,5
Slide 41: Sales by sector of activity
Sales by sector of activity Lfl & €m 9M 2024 9M 2023 Change a constant fx Construction businesses b 20,187 19,996 +1% +1% o/w Bouygues Construction 7,569 7,210 +5% +5% o/w Bouygues Immobilier 963 1,109 -13% -14% o/w Colas 11,794 11,805 0% 0% Equans 14,084 13,726 +3% +3% TF1 1,591 1,548 +3% +2% Bouyg
Slide 42: Contribution to Group EBITDA after Leases by sector
Contribution to Group EBITDA after Leasesa by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 638 727 -89 o/w Bouygues Construction 181 210 -29 o/w Bouygues Immobilier (38) (8) -30 o/w Colas 495 525 -30 Equans 555 442 +113 TF1 402 375 +27 Bouygues Telecom 1,506 1,451 +55 Bouygue
Slide 43: Contribution to Group COPA by sector of activity
Contribution to Group current operating profit from activitiesa (COPA) by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 476 499 -23 o/w Bouygues Construction 219 190 +29 o/w Bouygues Immobilier (49) 1 -50 o/w Colas 306 308 -2 Equans 474 377 +97 TF1 198 204 -6 Bouygues Telecom
Slide 44: Contribution to Group COP by sector of activity
Contribution to Group current operating profit (COP) by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 468 493 -25 o/w Bouygues Construction 217 190 +27 o/w Bouygues Immobilier (49) 1 -50 o/w Colas 300 302 -2 Equans 474 377 +97 TF1 196 201 -5 Bouygues Telecom 585 563 +22 Bouygu
Slide 45: Contribution to Group operating profit by sector
Contribution to Group operating profit by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 408 426 -18 o/w Bouygues Construction 184 130 +54 o/w Bouygues Immobilier (76) 1 -77 o/w Colas 300 295 +5 Equans 407 330 +77 TF1 178 177 +1 Bouygues Telecom 571 556 +15 Bouygues SA and othe
Slide 46: Contribution to net profit attributable to the Group by sector
Contribution to net profit attributable to the Group by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 235 288 -53 o/w Bouygues Construction 157 130 +27 o/w Bouygues Immobilier (76) (2) -74 o/w Colas 154 160 -6 Equans 303 213 +90 TF1 67 63 +4 Bouygues Telecom 263 279 -16 Bouygu
Slide 47: Contribution to Group net cash flow by sector
Contribution to Group net cash flowa by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 693 691 +2 o/w Bouygues Construction 301 250 +51 o/w Bouygues Immobilier (69) (1) -68 o/w Colas 461 442 +19 Equans 579 482 +97 TF1 301 316 -15 Bouygues Telecom 1,462 1,380 +82 Bouygues SA and
Slide 48: Contribution to net capital expenditure by sector
Contribution to net capital expenditure by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 215 128 +87 o/w Bouygues Construction 84 31 +53 o/w Bouygues Immobilier 1 3 -2 o/w Colas 130 94 +36 Equans 115 146 -31 TF1 183 184 -1 Bouygues Telecom 1,079 1,103 -24 Bouygues SA and other
Slide 49: Contribution to Group free cash flow by sector
Contribution to Group free cash flowa by sector of activity €m 9M 2024 9M 2023 Change Construction businesses 290 402 -112 o/w Bouygues Construction 181 185 -4 o/w Bouygues Immobilier (75) (9) -66 o/w Colas 184 226 -42 Equans 363 221 +142 TF1 109 112 -3 Bouygues Telecom 245 153 +92 Bouygues SA and o
Slide 50: Net surplus cash/net debt
Net surplus cash (+)/net debt (-)a €m End-Sept 2024 End-Dec 2023 Change Bouygues Construction 3,178 3,435 -257 Bouygues Immobilier (475) (150) -325 Colas (437) 623 -1,060 Equans 1,101 981 +120 TF1 364 505 -141 Bouygues Telecom (3,278) (2,625) -653 Bouygues SA and other (8,927) (9,020) +93 Net surplu
Slide 51: Condensed consolidated balance sheet
Condensed consolidated balance sheet End-Sept End-Dec €m Change 2024 2023 Non-current assets 31,844 31,789 +55 Current assets 29,562 28,957 +605 Held-for-sale assets and operations 105 0 +105 TOTAL ASSETS 61,511 60,746 +765 Shareholders' equity 13,954 14,112 -158 Non-current liabilities 16,177 16,27
Slide 52: Glossary (1/3)
Glossary (1/3) ABPU (Average Billing Per User) ● Sales billed to customers divided by the average number of customers over the period Sales from services (Bouygues Telecom) comprise: ● Sales billed to customers, which include: > In Mobile: ▪ For B2C customers: sales from outgoing call charges (voice
Slide 53: Glossary (2/3)
Glossary (2/3) Other sales (Bouygues Telecom): difference between the total sales of Bouygues Telecom and its 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
Slide 54: Glossary (3/3)
Glossary (3/3) Net surplus cash/(net debt) ● Net debt (or net surplus cash) is obtained by aggregating 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 l
Slide 55: Bouygues SA contact details
Bouygues SA 32 avenue Hoche • 75378 Paris CEDEX 08 bouygues.com