BOUYGUES: First-Quarter 2010 Sales: EUR6.4 billion (-2%)By Bouygues, PRNE
Monday, May 10, 2010
PARIS, May 11, 2010 - Quarterly Financial Information
The Bouygues group reported consolidated sales of EUR6.4 billion in the
first quarter of 2010, down 2% year-on-year and 3% like-for-like and at
constant exchange rates.
Sales by business area First-quarter First-quarter Change Change (EUR million) 2009 2010 like-for-like and at constant exchange rates Bouygues Construction 2,291 2,161 -6% -7% Bouygues Immobilier 628 624 -1% -1% Colas 1,972 1,828 -7% -8% TF1 538 597 +11% +11% Bouygues Telecom 1,272 1,340 +5% +5% Holding company and 40(1) 38 ns ns other Intra-Group (162)(1) (145) ns ns elimination Total 6,5791 6,443 -2% -3% France 4,783 4,702 -2% -2% International 1,796(1) 1,741 -3% -4%
1) Applying the same accounting policy as in 2010, excluding
Finagestion's sales (EUR91 million in Holding company and other, (EUR15
million in Intra-Group elimination)
Bouygues Construction reported a 6% drop in sales. Stable on
international markets, sales fell by 10% in France, where activity was
affected by poor weather.
The order intake in the first quarter rose by 25% compared
with the same period in 2009, to EUR2.8 billion. This figure includes the
Barwa Financial District project in Qatar. The order book stood at a record
level of EUR12.7 billion, up 6% on end-December 2009 and 4% on end-March
Sales at Bouygues Immobilier were almost stable, with a 16%
rise in residential property and a 30% decline in commercial property.
Business activity in the first quarter of 2010 reflected the
same trend as in 2009. Residential property reservations rose 46% to EUR494
million but the commercial property market remained sluggish. Overall,
first-quarter 2010 reservations were up 43% at EUR500 million. The order book
stood at EUR2.1 billion, 4% less than at end-December 2009 and 29% lower than
at end-March 2009.
Colas recorded a 7% decline in sales, down 6% in France and
10% internationally, hit by a particularly severe winter. Given the strong
seasonal nature of Colas' activities, first-quarter sales are not that
representative of the entire year.
The order book at end-March 2010 remained high at EUR7.0
billion, up 13% on end-December 2009 and 4% on end-March 2009.
Sales at TF1 rose by 11%, driven by an upturn in the
advertising market in a still uncertain economic environment.
Bouygues Telecom posted a 5% increase in sales. Sales from
network grew 5% to EUR1,237 million. Stripping out the impact of the cut in
voice and SMS termination rates, growth would have been 13%.
At 31 March 2010, Bouygues Telecom had 10,394,000 mobile
customers, 8,075,000 of whom were on call plans, or 77.7% of the total
customer base, an increase of 2.3 points over one year. 149,000 new mobile
customers on call plans joined Bouygues Telecom in the first quarter of 2010,
representing 24% of net market growth.(1)
The Fixed-line business continued to perform strongly,
registering 117,000 net activations in the first quarter of 2010. At 31 March
2010, 428,000 Bbox routers had been activated(2), a year-on-year increase of
1)Arcep (French communications regulator) data
2)Bbox routers in operation or the number of customers billed
2) Highlights since 1 January 2010 - 18 January 2010: Bouygues Construction signed a EUR325-million public- private partnership contract for the financing, design, construction, maintenance and management for 30 years of 63 road works and maintenance centres. - 26 January 2010: Bouygues Immobilier acquired Urbiparc, a Grenoble-based property developer specialising in the development of Business parks. - 26 January 2010: the French competition authority approved the TF1 group's acquisition of 40% of TMC and 100% of NT1, a decision confirmed by the CSA (French broadcasting authority) on 25 March 2010. - 12 February 2010: Bouygues launched a EUR500-million eight-year bond issue with a historically low coupon rate of 4%. - 29 March 2010: Réseau Clubs Bouygues Telecom passed the milestone of 600 stores and became one of France's top 50 retailers in terms of the number of outlets. 3) Overview of profitability and the financial situation in the first quarter of 2010 - The Group's operating margin is likely to be close to that of the first quarter of 2009. - The financial situation is sound, with considerably less net debt than at end-March 2009, in keeping with the improvement seen at end-December 2009. First-quarter 2010 results will be published on 1 June 2010 at 5.45pm (CET). www.bouygues.com
Press contact: +33(0)1-44-20-12-01, presse at bouygues.com; Investor and analyst contact: +33(0)1-44-20-10-79, investors at bouygues.com