(Updated with commentary, details, course)
by Gilles Guillaume
PARIS, November 15 (Reuters) – Bouygues announced the results of nine months before expectations, with the strength of telecommunications and media activities extracting events at several construction sites that led the diversification group to give notice of its results. and last month
At 12:07, the Bouygues acted 0.6759% to 32.77 euros, which appeared to be a slight increase in CAC 40 at noon (-0.2%).
"Quarterly announcement is encouraging after October's announcement," said Raymond James in a note. "Growth in the third quarter has slowed down, but it's still much higher than the consensus (..) while the Bouygues Construction order book remains at a record level of 22.5 billion euros . "
The group reported over the period January-September a turnover of 25.22 billion euros, a 6% increase, net profit, a group share of 772 million euros (+ 12%) and an current operating profit of 820 million euros, down 12.1%.
These results are more than a consensus of analysts published on the company's site, which gave a turnover of 24.8 billion euros, a net profit of 586 million and an existing operating profit of 797 million.
"On the one hand, we have a significant increase in the profitability of Bouygues Telecom and the very good results of TF1, and on the other hand the reduction in current operational income from construction activities," said Philippe Marien, Deputy CEO and Chief Operating Officer. Chief Financial Officer, during teleconference.
Bouygues gave a warning on October 18 due to problems encountered in the completion of three projects across the Channel – two in the biomass and one in the datacentres – and difficulties in the Rail Canals that can be attributed to SNCF goods and strikes.
The group, which intends to review with the public rail operator, arranges its maintenance contracts, has earned since its accounts have closed several new contracts, such as the completion of a physics laboratory for Cambridge University and building a motorway link in Australia.
TELECOMS, BUFFER AGAINST BUILDING BICKS
Bouygues confirmed his revised prospects on Thursday that day, including current or fixed current operating income, and was no longer improving as he had anticipated.
The telecommunications subsidiary won 1.4 million mobile customers over nine months – of 475,000 of them only in the third quarter – for a total of 15.8 million customers, or 10.8 million for the non-MtoM mobile package. In the appointed, the subsidiary has won 201,000 new fiber customers over nine months.
"Bouygues Telecom had never been for sale," said Philippe Marien to question the repetitive rumors of combining France's telecommunications market. "The idea of strengthening in telecommunications in France has never existed. At present the topic is not entirely on the agenda, the sales are even smaller, let alone for considering the very good momentum that we are experiencing. "
Ebitda ran in the telecommunications business 15% over nine months, while active income jumped 44% year on year.
"Telecommunications business is our strategic position, which aims to smooth some cyclical construction activities," CFO continued the group. "Telecommunications play the role of the regular and high cash flow business."
Bouygues Telecom, who has the aim of confirming 300 million euros of free cash flow in 2019, and so playing the group of Martin Bouygues has the same role as the & Passenger concessions at Eiffage, or concessions on the motorway and airport in Vinci.
The press release: http://bit.ly/2DFwprW
(With Blandine Hénault, edited by Jean-Michel Bélot)