Bouygues: 2024 Full-Year Results

Core Points - The company reported robust financial results for the full year 2024, with sales of €56.8 billion, an increase of 1% year-on-year, and current operating profit from activities of €2,535 million, up €124 million year-on-year [4][5] - The backlog in construction businesses reached a record €32.2 billion, up 13% year-on-year, providing visibility on future activity [15][53] - The company plans to distribute a dividend of €2.00 per share, representing a 5.3% increase compared to 2023 [7] Financial Performance - Group sales for 2024 were €56,752 million, up from €56,017 million in 2023, reflecting a 1% increase [2][57] - Current operating profit from activities was €2,535 million, an increase from €2,411 million in 2023, with a margin from activities of 4.5% [2][4] - Net profit attributable to the Group was €1,058 million, up from €1,040 million in 2023 [2][57] Business Segments - Equans achieved a 2% increase in sales to €19.2 billion, with a current operating profit from activities of €680 million, up €135 million year-on-year [25][26] - Bouygues Telecom reported sales of €7.82 billion, a 1% increase year-on-year, with a stable current operating profit from activities of €795 million [30][32] - TF1 group sales rose to €2.4 billion, a 3% increase year-on-year, with a current operating profit from activities of €297 million [35][37] Construction Business Insights - The construction businesses reported sales of €27.5 billion, up 1% year-on-year, driven mainly by Bouygues Construction [20][57] - Bouygues Construction's backlog increased by 21% year-on-year to €18.2 billion, reflecting strong order intake [17][18] - Bouygues Immobilier faced challenges, reporting a current operating loss from activities of €51 million due to a decline in business activity [23][19] Outlook and Strategic Initiatives - The company targets a slight increase in sales and current operating profit from activities for 2025, despite an uncertain global environment [8][10] - Equans aims to achieve a margin from activities of 5% by 2027, focusing on organic growth and strategic execution [10] - Bouygues Telecom plans to gradually consolidate La Poste Telecom, with expected synergies in purchasing and IT [34]