Q1 2025 Bouygues SA Earnings Call Transcript
Key Points
- Bouygues (BOUYF) confirmed its group outlook for 2025, with group sales and COPA both up year-on-year.
- The construction backlog reached a record level of EUR34.2 billion, up 12% year-on-year, providing good visibility on future activities.
- Net debt improved by EUR645 million year-on-year, despite significant acquisitions, indicating strong financial management.
- Bouygues Telecom achieved a 6% growth in sales billed to customers year-on-year, driven by strong performance in the Fixed segment.
- Equans showed significant improvement with a COPA margin increase of 0.9 points to 3.8%, reflecting successful execution of strategic plans.
- The net result attributable to the group was negatively impacted by an exceptional income tax surcharge, leading to a net loss of EUR156 million.
- Bouygues Telecom's EBITDA after leases decreased due to higher energy costs and increased IFER tax on mobile sites.
- The macroeconomic environment remains uncertain, affecting the pace of growth in certain segments like giga factories and data centers.
- Bouygues Immobilier's backlog remains low, reflecting a challenging market environment.
- The Fixed ABPU growth rate is expected to slow down in 2025 compared to previous years.
Hello and welcome to the Bouygues Q1 2025 results conference call. Please note this conference is being recorded and for the duration of the call, your lines will be on listen-only. (Operator Instructions)
I will now hand you over to [Frederick Dolava], Head of Investor Relations, to begin today's conference. Thank you.
Good morning, everyone, and thank you for joining us for the presentation of Bouygues First Quarter 2025 results. This presentation will be led by Pascal Grange, Deputy CEO and CFO of Bouygues Group. Pascal Grange is accompanied by Christian Lecoq, CFO of Bouygues Telecom. Following their presentation, they will be answering your questions. Pascal, I give you the floor.
Thank you. [Frederick] Good morning, everyone. Before listing our highlights, I would like to point out that we had mentioned during the presentation of our 2024 results that the
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