Bouygues (BOUYF) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:02.031 Hello, 00:00:03.883 -- 00:00:04.646 good morning. 00:00:04.646 -- 00:00:06.806 We may as 00:00:08.338 -- 00:00:12.103 well start now, a few seconds ahead of schedule. 00:00:14.847 -- 00:00:18.069 We have a little 00:00:18.373 -- 00:00:22.620 video by way of introduction. But before this, I would like to say a few words about 00:00:22.620 -- 00:00:26.868 the setting up of our construction division. 00:00:26.868 -- 00:00:31.576 Well, more to the point, we are bringing within our 00:00:31.576 -- 00:00:35.719 group the three businesses involved in construction. 00:00:35.823 -- 00:00:38.805 So we 00:00:38.968 -- 00:00:43.976 decided to have this division because it enables us to generate 00:00:43.976 -- 00:00:47.822 revenue synergies, and it can also boost 00:00:47.822 -- 00:00:53.909 both the sales and the profitability of our businesses. 00:00:54.152 -- 00:00:59.978 We do have some differentiation in governance. 00:01:00.342 -- 00:01:02.342 Pascal 00:01:02.966 -- 00:01:06.150 Minot, who was 00:01:06.150 -- 00:01:12.339 chair of the board CEO, Minot is now chair, and Pascal Le Saint-André becomes 00:01:12.339 -- 00:01:16.024 CEO, managing director, as it were. He was in charge of Bâtiments International. 00:01:16.024 -- 00:01:20.750 At Colas, we appointed Pascal Minot 00:01:20.750 -- 00:01:26.058 as chairman of the board, and Pierre Van Soeflegat is now CEO. 00:01:26.058 -- 00:01:28.121 And at Bouygues Immobilier, 00:01:28.121 -- 00:01:33.631 as you know, We had already distinguished between the chair 00:01:33.631 -- 00:01:39.337 and the CEO, Pascal being the chair of the board and Emmanuel de Maizière becoming 00:01:39.337 -- 00:01:44.703 the CEO of Bouygues Immobilier. So at the construction division, the head is 00:01:44.703 -- 00:0...