Bouygues Sa · EURONEXT:EN
Bouygues Sa — FY2022 Earnings Presentation
62 slides from Bouygues Sa's earnings presentation, Feb 23, 2023
Slide 1: Full-Year 2022 Results
PRESENTATION PRESENTATION 23 FEBRUARY 2023 PARIS • THURSDAY 23 FEBRUARY 2023 FULL-YEAR 2022 FULL-YEAR 2022 RESULTS RESULTS A heat pump factory operated by Systecon, a US subsidiary of Equans in the suburbs of Cincinnati xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Slide 2: Forward-looking statements disclaimer
This presentation contains 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 similar statements.
Slide 3: Contents: Highlights and key figures
Contents Highlights and key figures 3 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 4: Business portfolio strengthened in Energies and Services
Business portfolio strengthened in Energies and Services Group structure before the acquisition of Equans Group structure after the acquisition of Equans Construction & Construction Telecoms Telecoms Services 14% 19% Media 5% 6% Media 75% 48% Energies approx 125,000 approx 196,000 & employees employ
Slide 5: Acceleration in the Group's growth
Acceleration in the Group’s growth (figures including Equans in Q4 2022) Group sales (€bn) Group COPAa (€m) +18% +284 44.3 2,018 37.6 1,734 2021 2022 2021 2022 Net profit attributable to the Group (€m) Group net debt (-) in €m 2021 2022 1,125 Alstom 219 973 -700 +67 906 +241 -941 -6,740 Equans’ impa
Slide 6: 2022 guidance achieved, demonstrating the Group's resilience
2022 guidance achieved, demonstrating the Group’s resilience For 2022, excluding impact of the Equans acquisition, the Group was aiming for: • An increase in sales • An increase in current operating profit a a 40.6 1,845 +8% +152 37.6 1,693 4.5% 4.5%a Guidance achieved Guidance achieved €bn €m 2
Slide 7: Dividend and share buybacks for the benefit of shareholders
Dividend and share buybacks for the benefit of shareholders a 1.80 1.80 1.70 ● After an increase in 2021, dividend maintained at a €1.80 per share € 2020 2021 2022 382.5 380.8 0.03 2.8 -8 374.5 2.2 ● Cancellation of 8,045,000 shares in 2022b aimed at 380.7 379.7 offsetting dilutive effects of any ca
Slide 8: Contents: Sustainable and responsible initiatives
Contents Sustainable and responsible initiatives 8 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 9: Carbon emissions reduction targets for business segments
Carbon emissions reduction targets for the Group's business segments endorsed or under review by SBTa initiative Significant progress towards SBTi endorsement for all business segments ● Colas endorsed in 2021 ● Bouygues Telecom endorsed in 2022 ● Bouygues Construction, Bouygues Immobilier and TF1 s
Slide 10: Contents: Review of operations
Contents Review of operations 10 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 11: Construction & services businesses
REVIEW OF OPERATIONS Construction & services businesses Cairo metro, Egypt – Colas 11 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 12: Backlog in construction & services at a record level
Backlog in the construction & services businessesa at a record level 33.8 33.1 33.1 33.2 33.0 End-Dec 2018 End-Dec 2019 End-Dec 2020 End-Dec 2021 End-Dec 2022 Backlog in €bn Olympic aquatics centre, Saint-Denis – Bouygues Construction (a) Includes Bouygues Energies & Services and excludes Equans 12
Slide 13: Backlog in the construction & services businesses
Backlog in the construction & services businesses1 Backlog +2% Backlog in the construction & services businesses (€bn) ● Bouygues Construction’s backlog provides good visibility on future activity +2% a > Good momentum driven by the normal course of business > Order intake +9% (of which the Qiddiya
Slide 14: Key figures in construction & services businesses
Key figures in construction & services businesses1 €m 2022 2021 Change Sales up 9% a Sales 30,549 27,922 +9% ● Bouygues Construction +3% (+1% lfl and at constant exchange rates) > Building & Civil Works +5%: growth driven by international activities o/w Bouygues Construction 13,167 12,770 +3% > Ener
Slide 15: Film - Fécamp offshore wind farm
Film - Fécamp offshore wind farm 15 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 16: Equans
REVIEW OF OPERATIONS Equans Heat pumps, Austria – Equans 16 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 17: Key figures at Equans
Key figures at Equans Equans is consolidated in the Bouygues group’s financial statements for the fourth quarter of 2022. The financial figures presented here do not include those of Bouygues Energies & Services 2022, a year of transition for Equans • Finalisation of Equans set-up a a €m Q4 2022 Q4
Slide 18: Media
REVIEW OF OPERATIONS Media Marie-Antoinette, a TV series – produced by Newen Studios 18 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 19: Key figures at the TF1 group
Key figures at the TF1 group Good operating performance ● Sales +3% > Media segment -1% €m 2022 2021 Change o of which stable advertising revenues on a like-for-like basis in 2022 a (up 2% on a like-for-like basis in Q4 2022, driven by the very good Sales 2,508 2,427 +3% performances of FIFA World C
Slide 20: Governance and outlook for the TF1 group
Governance and outlook for the TF1 group Governance ● Resignation of Gilles Pélisson as a director, with effect from the Board meeting of 13 February 2023. The Board of Directors thanked Gilles Pélisson for his hard work at the helm of the TF1 group over the past seven years and for the quality of t
Slide 21: Telecoms
REVIEW OF OPERATIONS Telecoms Bbox Wifi 6 – France's first eco-designed internet box 21 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 22: Bouygues Telecom achieves its 2022 guidance
Bouygues Telecom achieves its 2022 guidance Bouygues Telecom’s guidance for 2022: 5,619 5,318 +6% ● Growth in its sales billed to customers of above 5% Guidance achieved €m 2021 2022 1,773a 23 1,612 +9% ● Growth in EBITDA after Leases of over 8% 1,750 Guidance achievedb €m 2021 2022 1.5 1.5 ● Gr
Slide 23: Continued growth in mobile and fixed customer base
Continued growth in mobile and fixed customer base Mobile plan customer base excl. MtoM (millions of customers) 15.2 15.2 million mobile plan customers 14.8 excluding MtoMa at end-December 2022 12.1 11.5 10.9 ● +449,000 customers in 2022 o/w +81,000 in Q4 2022 3 million FTTHb customers at end-Decemb
Slide 24: Innovative devices to ramp-up growth in the fixed segment
Innovative devices to ramp-up growth in the fixed segment Bouygues Telecom, a leader in quality connectivity ● No. 1 Wifia operator for the second year running, a recognition of the performance of Bouygues Telecom’s devices New state-of-the-art B2C and B2B internet boxes ● High quality for an excell
Slide 25: 2022 key figures at Bouygues Telecom
2022 key figures at Bouygues Telecom Sales billed to customers +6% ● Strong commercial performance > Mobile ABPU of €20.1a, up €0.3 year-on-year > Fixed ABPU of €29.5, up €1.1 year-on-year €m 2022 2021 Change a Sales 7,532 7,256 +4% EBITDAaL +9% (excluding reclassification of the 900 MHz and 1800 MH
Slide 26: 2023 outlook for Bouygues Telecom
2023 outlook for Bouygues Telecom 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 is aiming for: ● an increase in sales billed to customers ● EBITDA after Leases of around €1.9 billion
Slide 27: Contents: Financial statements
Contents Financial statements 27 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 28: Condensed consolidated income statement
Condensed consolidated income statement (includes Equans in Q4 2022) €m 2022 2021 Change a Sales 44,322 37,589 +18% Current operating profit/(loss) from activities 2,018 1,734 +284 Amortisation and impairment of intangible assets recognised b c (56) (41) -15 in acquisitions (PPA) Current operating p
Slide 29: Bouygues group 2022 proforma financial information
Bouygues group 2022 proforma financial information The 2022 proforma financial information of the Bouygues group, which includes Equans for the 2022 financial year, would be as follows: 2022 €m 2022 proforma Sales 44,322 54,385 Current operating profit/(loss) from 2,018 2,164 activities Margin from
Slide 30: Group financial structure
Group financial structure End-Dec End-Dec €m Change 2022 2021 Shareholders' equity 13,932 12,789 +1,143 Group net debt (-)/net surplus cash (+) (7,440) (941) -6,499 As % of shareholders' equity 53% 7% +46 pts Net debt (-) of -€7,440m at end-December 2022 ● Change in net debt is impacted by the acqui
Slide 31: Change in net debt position in 2022 (1/2)
Change in net debta position in 2022 (1/2) Net debt excluding Equans Net debt at 31/12/2022 €m Net debt at 31/12/2021 at the acquisition date and buyback of treasury shares Acquisitions/ disposals excl. Equans Frequenciesc -3 Dividends +214 0 +85 -109 (700) (941) Operations Alstom Liquidity -777 +83
Slide 32: Change in net debt position in 2022 (2/2)
Change in net debta position in 2022 (2/2) Breakdown of operations Net cash flowb Net cash flow after eliminating €146m of +3,470 Net capexc tax on closed-out swaps, presented -441 netted off the cash Repayment of -2,088 collected on the swaps lease obligations Change in +214 operating WCR and other
Slide 33: Contents: Outlook
Contents Outlook 33 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 34: The Group's priorities for 2023
The Group's priorities for 2023 Successfully complete the merger Support the growth Pursue our climate of Equans with and performance of commitments & Bouygues Energies & our business develop low-carbon Services, and roll out segments solutions the performance plan 34 ● FULL-YEAR 2022 RESULTS – BOUY
Slide 35: 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 is aiming for 2023 sales close to those of 2022, as well as an increase in its current operating profit from activi
Slide 36: Calendar
Calendar All times are CET Equans Capital Markets Day ● Today at 2pm Annual General Meeting ● Thursday 27 April 2023, 3.30pm Dividend payment ● Friday 5 May 2023 Q1 2023 results ● Tuesday 16 May 2023, 7.30am H1 2023 results ● Friday 28 July 2023, 7.30am National Highway 3, Helsinki – Destia/Colas Q3
Slide 37: Questions & answers
PRESENTATION 23 FEBRUARY 2023 Questions & answers HS2 High Speed rail line, UK – Bouygues Construction
Slide 38: Contents: Annexes
Contents Annexes 38 ● FULL-YEAR 2022 RESULTS – BOUYGUES GROUP – 23 FEBRUARY 2023
Slide 39: Key figures at Bouygues Construction
ANNEX Key figures at Bouygues Construction at 31 December 2022, figures include Bouygues Energies & Services Order intakea (€bn) Backlog by region (end-Dec 2022) International +9% France 12.1 11.1 8% France 4% 7.3 +19% 37% Asia-Pacific 6.2 Europe (excl. France) 36% Americas -4% Africa and Middle Eas
Slide 40: Key figures at Bouygues Immobilier
ANNEX Key figures at Bouygues Immobilier Reservationsa (€bn) Residential property Commercial property -10% 2.1 0.2 1.9 0.3 +16% 1.8 1.6 -13% 2021 2022 Loji offer – Bouygues Immobilier Backlogb (€bn) Bouygues Immobilier – key figures Residential property -17% €m 2022 2021 Change Commercial property 1
Slide 41: Key figures at Colas
ANNEX Key figures at Colas Backlog (€bn) International and French overseas territories a +9% Mainland France 11.7 10.7 7.7 8.6 +12% b 3.0 3.1 +3% End-Dec 2021 End-Dec 2022 CairoRecycol metro in-place – Colas Rail recycling of road pavement, United Kingdom – Colas UK 2022 sales by activity Colas – ke
Slide 42: Key figures at Equans
ANNEX Key figures at Equans Backlog (€bn) 18.7 Equans Equans – key figures €m Q4 2022 Q4 2021 Change Sales 3,757 n/a n/a End-Dec 2022 o/w France 1,236 n/a n/a o/w international 2,521 n/a n/a Current operating profit/(loss) from 130 n/a n/a activities Margin from activities 3.5% n/a n/a Current opera
Slide 43: Key indicators at Bouygues Telecom
ANNEX Key indicators at Bouygues Telecom Sales in €m/base in thousands/ABPU in € 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2022 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Sales billed to customers 5,619 1,445 1,426 1,379 1,368 5,318 1,370 1,355 1,304 1,289 Sales from mobile services 3,860 984 982 954 941 3,855 981
Slide 44: FTTH premises marketed (millions)
ANNEX FTTHa premises marketedb (millions) Bouygues Bouygues Bouygues Telecom Telecom Telecom target at end-Dec 2021 at end-Dec 2022 for end-2026 35.0 +5.4 29.7 24.3 6.5 5.9 14.0 12.9 9.2 5.5 Very Dense Area Medium Dense Area (AMII zone)c Medium Dense Area (PIN zone)c (a) Fibre-To-The-Home: optical f
Slide 45: Sales by sector of activity
ANNEX Sales by sector of activity Lfl & €m 2022 2021 Change a constant fx b Construction and services businesses 30,549 27,922 +9% +4% o/w Bouygues Construction 13,167 12,770 +3% +1% o/w Bouygues Immobilier 2,032 2,116 -4% -4% o/w Colas 15,529 13,226 +17% +9% Equans 3,757 n/a n/a n/a TF1 2,508 2,427
Slide 46: Contribution to Group EBITDA after Leases by sector
ANNEX Contribution to Group EBITDA after Leasesa by sector of activity €m 2022 2021 Change Construction and services businesses 1,272 1,396 -124 o/w Bouygues Construction 436 498 -62 o/w Bouygues Immobilier 52 70 -18 o/w Colas 784 828 -44 Equans 190 n/a +190 TF1 733 695 +38 Bouygues Telecom 1,773 1,
Slide 47: Contribution to Group COPA by sector of activity
ANNEX Contribution to Group current operating profit from activitiesa (COPA) by sector of activity €m 2022 2021 Change Construction and services businesses 918 832 +86 o/w Bouygues Construction 413 342 +71 o/w Bouygues Immobilier 37 43 -6 o/w Colas 468 447 +21 Equans 130 n/a +130 TF1 322 348 -26 Bou
Slide 48: Reconciliation of COPA to Group current operating profit
ANNEX Reconciliation of Group current operating profit from activities (COPA) to Group current operating profit (COP) PPA €m COPA a COP amortisation Construction and services businesses 918 -8 910 o/w Bouygues Construction 413 - 413 o/w Bouygues Immobilier 37 - 37 o/w Colas 468 -8 460 Equans 130 - 1
Slide 49: Contribution to Group current operating profit by sector
ANNEX Contribution to Group current operating profit (COP) by sector of activity €m 2022 2021 Change Construction and services businesses 910 825 +85 o/w Bouygues Construction 413 342 +71 o/w Bouygues Immobilier 37 43 -6 o/w Colas 460 440 +20 Equans 130 n/a +130 TF1 316 343 -27 Bouygues Telecom 665
Slide 50: Contribution to Group operating profit by sector of activity
ANNEX Contribution to Group operating profit by sector of activity €m 2022 2021 Change Construction and services businesses 828 807 +21 o/w Bouygues Construction 331 342 -11 o/w Bouygues Immobilier 37 35 +2 o/w Colas 460 430 +30 Equans 130 n/a +130 TF1 301 333 -32 Bouygues Telecom 735 663 +72 Bouygu
Slide 51: Contribution to net profit attributable to the Group by sector
ANNEX Contribution to net profit attributable to the Group by sector of activity €m 2022 2021 Change Construction and services businesses 583 534 +49 o/w Bouygues Construction 273 274 -1 o/w Bouygues Immobilier 18 7 +11 o/w Colas 292 253 +39 Equans 90 n/a +90 TF1 78 98 -20 Bouygues Telecom 439 403 +
Slide 52: Contribution to Group net cash flow by sector of activity
ANNEX Contribution to Group net cash flowa by sector of activity €m 2022 2021 Change Construction and services businesses 1,097 1,111 -14 o/w Bouygues Construction 440 359 +81 o/w Bouygues Immobilier 41 50 -9 o/w Colas 616 702 -86 Equans 164 n/a +164 TF1 614 583 +31 Bouygues Telecom 1,743 1,562 +181
Slide 53: Contribution to net capital expenditure by sector of activity
ANNEX Contribution to net capital expenditure by sector of activity €m 2022 2021 Change Construction and services businesses 285 311 -26 o/w Bouygues Construction 101 71 +30 o/w Bouygues Immobilier 6 6 = o/w Colas 178 234 -56 Equans 59 n/a +59 TF1 312 331 -19 Bouygues Telecom 1,410 1,331 +79 Bouygue
Slide 54: Contribution to Group free cash flow by sector of activity
ANNEX Contribution to Group free cash flowa by sector of activity €m 2022 2021 Change Construction and services businesses 582 606 -24 o/w Bouygues Construction 269 212 +57 o/w Bouygues Immobilier 26 36 -10 o/w Colas 287 358 -71 Equans 69 n/a +69 TF1 281 233 +48 Bouygues Telecom 180 86 +94 b Bouygue
Slide 55: Net surplus cash (+)/Net debt (-)
ANNEX Net surplus cash (+)/Net debt (-)a €m End-Dec 2022 End-Dec 2021 Change Bouygues Construction 3,817 3,521 +296 Bouygues Immobilier (156) (142) -14 Colas (292) (33) -259 Equans (24) n/a -24 TF1 326 198 +128 Bouygues Telecom (2,303) (1,734) -569 Bouygues SA and other (8,808) (2,751) - 6,057 Group
Slide 56: Bouygues Energies and Services' contribution to annual results
Bouygues Energies and Services' contribution to the Group's annual results €m 2022 2021 Change Sales 3,863 3,871 0% Current operating profit/(loss) from 137 109 +28 activities Operating profit/(loss) 127 109 +18 Net profit attributable to the Group 110 104 +6 a Net surplus cash (+)/Net Debt (-) 205
Slide 57: Group liquidity
ANNEX Group liquidity Available cash at end-December 2022: €14.7bn Available cash (€bn) Debt maturity schedule at end-Dec 2022 (€bn) Evenly spread debt maturity schedule 3 No covenants or rating clause on medium/long- 5.5 2 term facilities and on syndicated loan €14.7bn 9.2 1 0 2023 2024 2025 2026 2
Slide 58: Condensed consolidated balance sheet
ANNEX Condensed consolidated balance sheet End-Dec End-Dec €m Change 2022 2021 Non-current assets 31,013 21,675 +9,338 Current assets 29,463 22,933 +6,530 Held-for-sale assets and operations 119 34 +85 TOTAL ASSETS 60,595 44,642 +15,953 Shareholders' equity 13,932 12,789 +1 143 Non-current liabiliti
Slide 59: 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 60: 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 61: 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 62: Bouygues SA, 32 avenue Hoche, Paris
Bouygues SA 32 avenue Hoche • 75378 Paris CEDEX 08 bouygues.com