Slide 1: Nine-Month 2023 Results
PRESENTATION PARIS • TUESDAY 31 OCTOBER 2023 NINE-MONTH 2023 RESULTS Colas used Recycol to renovate the RD 926 road at Septfonds in France
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: Key figures
Contents Key figures 3 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 4: Solid set of nine-month Group key indicators
Solid set of nine-month Group key indicators, and marked by Equans’ contribution Group sales (€bn) Group COPAb(€m) +3% +237 39.7 40.9 1,623 1,386 29.7 +38% 1,240 +383 9M 2022 published 9M 2022 incl. a 9M 2023 9M 2022 published 9M 2022 incl. 9M 2023 a Equans proforma Equans proforma Net profit attrib
Slide 5: Contents: Review of operations
Contents Review of operations 5 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 6: Construction businesses
REVIEW OF OPERATIONS Construction businesses Campus Engie - Bouygues Bâtiment Ile-de-France 6 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 7: Backlog in the construction businesses at a record level
Backlog in the construction businesses at a record level With effect from January 2023, Bouygues Energies & Services is included in Equans and therefore no longer in the construction businesses 33.5 34.2 32.5 31.8 6.6 6.6 29.8 6.3 6.6 +8% 26.2 26.9 27.5 25.2 End-Sept 2019 End-Sept 2020 End-Sept 2021
Slide 8: Backlog up €2.2bn year-on-year
Backlog up €2.2bn year-on-year, providing visibility on future activity as a whole Bouygues Construction, backlog up €1.6bn (+12%) yoy ● Order intake of €8.1bn in 9M 2023 supported by: > Award of major contracts (> €100m) internationally, including in Q3 two contracts in Hong Kong Backlog in the con
Slide 9: Sales and profitability on the up in the construction businesses
Sales and profitability on the up in the construction businesses €m 9M 2023 9M 2022 a Change b c Sales 19,996 19,673 +2% 9M 2023 sales up €323m (+2%) yoy o/w Bouygues Construction 7,210 6,833 +6% ● Bouygues Construction +€377m or +6% o/w Bouygues Immobilier 1,109 1,366 -19% > Growth essentially driv
Slide 10: Equans
REVIEW OF OPERATIONS Equans Upgrading of a street lighting network, Washington D.C. - Equans 10 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 11: Equans performance plan on track
Equans performance plan on track 9M 2022 proforma figures include Equans and Bouygues Energies & Services before eliminations with Bouygues Construction – unaudited figures Solid commercial activity • Continued selective approach to contracts • Dynamic order intake of €13.4bn, including in Q3 medium
Slide 12: Sale of asset-based activities, in line with Equans strategy
Signing of agreements for the sale of asset-based activities, in line with Equans strategy Sale of asset-based activities included in the Equans' strategic plan, as presented at the Capital Markets Day • In September 2023, agreement signed with the Swiss Life Asset Managers and Schroders Greencoat c
Slide 13: Equans' outlook for 2023 confirmed
Equans’ outlook for 2023 confirmed For 2023, Equans is aiming for: ● a slight increase in sales, as a result of its selective approach strategy ● a current operating margin from activities (COPA margin) of between 2.5% and 3% ● a cash conversion rate (COPA-to-cash flowa) before WCR of between 80% an
Slide 14: Media
REVIEW OF OPERATIONS Media The TV series “Tomorrow is ours”, broadcast on TF1 14 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 15: Strong performance in Q3 2023 at TF1 group
Strong performance in Q3 2023 at TF1 group Better results in Media in Q3 2023 vs Q1 and Q2 2023, Newen still impacted by lower programme deliveries €m 9M 2023 9M 2022 Change ● Sales down 11% in 9M 2023, and down 8% like-for-like a Sales 1,548 1,740 -11% > Media improving in Q3 o/w Media 1,350 1,442
Slide 16: TF1's outlook for 2023 confirmed
TF1’s outlook for 2023 confirmed The TF1 group confirms its outlook: ● In 2023, the TF1 group will cement its leadership position and maintain a broadly stable current operating margin from activities in 2023 ● It will continue to generate cash flow, in order to aim for a growing or stable dividend
Slide 17: Telecoms
REVIEW OF OPERATIONS Telecoms Bouygues Telecom mast 17 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 18: Good commercial performance in mobile and fixed
Good commercial performance in mobile and fixed Mobile plan customer base excl. MtoM (millions of customers) 15.1 15.4 15.4 million mobile plan customers excluding MtoMa 14.6 at end-September 2023 12.0 ● +217,000 customers in 9M 2023, of which +108,000 in Q3 2023 11.4 4.8 million fixed customers at
Slide 19: Bouygues Telecom achieving a solid set of results
Bouygues Telecom achieving a solid set of results Sales billed to customers up 6% in 9M 2023 ● Continued positive volume and price effects €m 9M 2023 9M 2022 Change a > Mobile ABPUa of €19.8, up €0.1 year-on-year Sales 5,700 5,531 +3% > Fixed ABPUa of €30.9, up €1.9 year-on-year Sales from services
Slide 20: Bouygues Telecom's 2023 outlook confirmed
Bouygues Telecom's 2023 outlook confirmed As it continues to grow its customer base, particularly in the fixed segment, and maintains its investments to boost its mobile network capacity, Bouygues Telecom’s guidance is as follows: ● an increase in sales billed to customers ● EBITDA after Leases of a
Slide 21: Contents: Financial statements
Contents Financial statements 21 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 22: Condensed consolidated income statement
9M 2023 compared to 9M 2022 published Condensed consolidated income statement (comparison with 9M 2022 proforma condensed consolidated income statement available in annexes) €m 9M 2023 9M 2022 Change a Sales 40,888 29,677 +38% Current operating profit/(loss) from activities 1,623 1,240 +383 b Amorti
Slide 23: A robust financial structure
A robust financial structure End-Sept End-Dec €m Change 2023 2022 Shareholders' equity 13,841 13,932 -91 a Net surplus cash (+)/net debt (-) (10,238) (7,455) -2,783 As % of shareholders' equity 74% 54% +20 pts Net debt of €10.2bn at end-Sept 2023 ● Repayment, as at end-September 2023, of most of the
Slide 24: Change in net debt position in 9M 2023 (1/2)
Change in net debta position in 9M 2023 (1/2) in €m Net debt at 31/12/2022, Net debt at 30/09/2023 restatedb -7,440 Acquisitions/ Colas Swaps net of disposalsc squeeze-out Capital tax on offer transactions closed-out Capital increased and othere swaps Dividends Operations and -15 -108 -37 other -180
Slide 25: Change in net debt position in 9M 2023 (2/2)
Change in net debta position in 9M 2023 (2/2) in €m Breakdown of operations Net cash flow after eliminating €36m of tax on closed-out swaps, presented netted off the Net cash flowb cash collected on the swaps Net capexc -422 Repayment of Change in 2,730 lease obligations -1,607 operating WCR and oth
Slide 26: Filing of a squeeze-out offer for Colas at €175 per share
Filing of a squeeze-out offer, with a view to delisting Colas, at a price of €175 per share Simplification of the capital structure of Colas, of which Bouygues held 96.8% of the share capital at 18 September 2023, the date of the announcement Offer filed by Bouygues with the AMF (French Markets Auth
Slide 27: Contents: Outlook
Contents Outlook 27 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 28: Outlook for the Group
Outlook for the Group The outlook below is based on information known to date ● In an unstable environment, marked by inflation, rising interest rates and currency volatility, Bouygues confirms that it is aiming for 2023 sales close to those of 2022, as well as an increase in its current operating p
Slide 29: Calendar
Calendar Full-year 2023 results ● Tuesday 27 February 2024, 7.30 am Storage site, Telford depot - Colas Ltd 29 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 30: Questions & answers
PRESENTATION 31 OCTOBER 2023 Questions & answers Arden Station, Melbourne Metro - Bouygues Construction Australia 30 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 31: Contents: Annexes
Contents Annexes 31 ● NINE-MONTH 2023 RESULTS - BOUYGUES GROUP - 31 OCTOBER 2023
Slide 32: Key figures at Bouygues Construction
Key figures at Bouygues Construction Figures exclude Bouygues Energies & Services Order intakea (€bn) Backlog by region (end-Sept 2023) International +50% France 8.1 5% 9% France 31% 5.4 +77% Asia-Pacific 5.4 Europe (excl. France) 3.1 33% Americas +15% Africa and Middle East 2.4 2.7 22% 9M 2022 9M 2
Slide 33: Key figures at Bouygues Immobilier
Key figures at Bouygues Immobilier Reservationsa (€bn) Residential property Commercial property -31% 1.3 0.2 0.9 0.0 nm Cœur de Vie - Bouygues Immobilier 1.1 0.9 -23% Bouygues Immobilier – key figures €m 9M 2023 9M 2022 Change 9M 2022 9M 2023 a Sales 1,109 1,366 -19% o/w residential 1,068 1,228 -13%
Slide 34: Key figures at Colas
Key figures at Colas Backlog (€bn) International and a French overseas territories +8% Mainland France 13.4 12.4 9.2 10.1 +10% b 3.2 3.3 +2% End-Sept 2022 End-Sept 2023 An employee of Colas Madagascar - Colas 9M 2023 sales by activity Colas – key figures Road construction €m 9M 2023 9M 2022 Change R
Slide 35: Key indicators at Bouygues Telecom
Key indicators at Bouygues Telecom Sales in €m/base in thousands/ABPU in € Q3 2023 Q2 2023 Q1 2023 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Sales billed to customers 1,492 1,470 1,444 5,619 1,445 1,426 1,379 1,368 Sales from services 1,507 1,486 1,462 5,753 1,474 1,455 1,423 1,401 o/w sales from mobile
Slide 36: FTTH premises marketed (millions)
FTTHa premises marketedb (millions) Bouygues Telecom Bouygues Telecom Bouygues Telecom at end-Dec 2022 at end-Sept 2023 target for end-2026 +3.5 35.0 33.2 29.7 6.8 6.5 14.6 14.0 9.2 11.9 Very Dense Area Medium Dense Area (AMII zone)c Medium Dense Area (PIN zone)c (a) Fibre-To-The-Home: optical fibre
Slide 37: Sales by sector of activity
9M 2023 compared to 9M 2022 published Sales by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative Lfl & €m 9M 2023 9M 2022 Change a constant fx b Construction businesses 19,996
Slide 38: Contribution to Group EBITDA after Leases by sector
9M 2023 compared to 9M 2022 published Contribution to Group EBITDA after Leasesa by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Construction bus
Slide 39: Contribution to Group COPA by sector of activity
9M 2023 compared to 9M 2022 published Contribution to Group current operating profit from activitiesa (COPA) by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M
Slide 40: Reconciliation of COPA to COP in 9M 2023
Reconciliation of Group current operating profit from activities (COPA) to Group current operating profit (COP) in 9M 2023 PPA €m COPA a COP amortisation Construction businesses 499 -6 493 o/w Bouygues Construction 190 0 190 o/w Bouygues Immobilier 1 0 1 o/w Colas 308 -6 302 Equans 377 0 377 TF1 204
Slide 41: Reconciliation of COPA to COP in 9M 2022
Reconciliation of Group current operating profit from activities (COPA) to Group current operating profit (COP) in 9M 2022 Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction PPA €m COPA a COP amortisation Construction businesses 434 -6 428 o/
Slide 42: Contribution to Group current operating profit by sector
9M 2023 compared to 9M 2022 published Contribution to Group current operating profit (COP) by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Constr
Slide 43: Contribution to Group operating profit by sector
9M 2023 compared to 9M 2022 published Contribution to Group operating profit by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Construction busines
Slide 44: Contribution to net profit attributable to the Group by sector
9M 2023 compared to 9M 2022 published Contribution to net profit attributable to the Group by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Constr
Slide 45: Contribution to Group net cash flow by sector
9M 2023 compared to 9M 2022 published Contribution to Group net cash flowa by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Construction businesse
Slide 46: Contribution to net capital expenditure by sector
9M 2023 compared to 9M 2022 published Contribution to net capital expenditure by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Construction busine
Slide 47: Contribution to Group free cash flow by sector
9M 2023 compared to 9M 2022 published Contribution to Group free cash flowa by sector of activity Equans’ 9M 2022 figures only include Bouygues Energies & Services as it contributed to Bouygues Construction. Consequently, changes are not representative €m 9M 2023 9M 2022 Change Construction business
Slide 48: Net surplus cash (+)/net debt (-)
9M 2023 compared to 9M 2022 published Net surplus cash (+)/net debt (-)a Bouygues Energies & Services’ data are included in Equans’ data €m End-Sept 2023 End-Dec 2022 Change Bouygues Construction 2,769 3,612 -843 Bouygues Immobilier (377) (156) -221 Colas (815) (292) -523 Equans (71) 181 -252 TF1 36
Slide 49: Group liquidity
Group liquidity Available cash at end-September 2023: €10.9bn Average maturity of bonds of 8.7 years and average coupon of 3.10% at end-September 2023 Available cash (€bn) Debt maturity schedule at end-September 2023 (€bn) Debt maturity schedule well spread over time 3 1.6 No covenants or rating cla
Slide 50: Group condensed consolidated balance sheet
End-Sept 2023 compared to end-Dec 2022 published Group condensed consolidated balance sheet End-Sept End-Dec €m Change 2023 2022 Non-current assets 31,757 31,013 +744 Current assets 28,252 29,463 -1,211 Held-for-sale assets and operations 411 119 +292 TOTAL ASSETS 60,420 60,595 -175 Shareholders' eq
Slide 51: Condensed consolidated income statement (9M 2022 proforma)
9M 2023 compared to 9M 2022 proforma Condensed consolidated income statement (Equans proforma figures included in 9M 2022 – unaudited 9M 2022 figures) 9M 2022 €m 9M 2023 Change proforma Sales 40,888 39,739 +3% Current operating profit/(loss) from activities 1,623 1,386 +237 b Amortisation and impair
Slide 52: Equans 9M 2023 and 9M 2022 proforma income statement
9M 2023 compared to 9M 2022 proforma Equans 9M 2023 and 9M 2022 proforma condensed income statement (9M 2022 proforma figures include Equans and Bouygues Energies & Services before eliminations with Bouygues Construction – unaudited 9M 2022 figures) 9M 2022 M€ 9M 2023 Variation proforma Sales 13,726
Slide 53: 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 54: 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 55: 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/(net debt) does not include non-current and current l
Slide 56: Bouygues SA contact details
Bouygues SA 32 avenue Hoche • 75378 Paris CEDEX 08 bouygues.com