Bouygues unveils strong first quarter
June 3, 2010
The benefit of the diverse group Bouygues (construction, real estate, media, telecommunications) in the first quarter reached 181 million euros, up 14% over the first three months of 2009, while its revenues – already known – fell 2% to 6.44 billion euros. Taking into account an average of 17 analysts, net income was expected to decline by 4.1% to 153 million euros.
This is the real estate that has achieved such a feat, if Bouygues Immobilier has seen its business stagnate in terms of sales, its net income rose 30% and contributes 30 million euros total profits.Within this division, the housing portion, whose reservations have increased by 46% in the first quarter, participates in almost all real estate activity, given that "the housing market remains sluggish business" .
In addition to net earnings up sharply, Bouygues reported a net debt fell by nearly half: he returned more than $ 5.4 million at the end of the first quarter of 2009-3 23 million at end March 2010.The debt ratio is thus more than 32%, against 61% a year before.
A good quarter for TF1
According to its statement issued Tuesday evening, good performances of Bouygues Telecom (5% of turnover) and TF1 (11%) did not offset the loss of speed in industries Construction and Colas.
TF1 side, the upturn and a return to a positive operating result (EUR 44 million) show a better ad market, and reflects "the adaptation of its business model and its policy of reducing costs" .The group, in its entirety, recorded an operating profit of 162 million euros, down 2% from the first quarter of 20009.
Bouygues also states that the contribution to Alstom's net income came to 115 million euros, up 21%.
Given these results, the group has seen a slight increase its sales target for fiscal 2010 to 30.1 billion euros, against 30 billion previously announced in March 2010.
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