Bouygues: posts H1 loss, hit by Covid-19
(CercleFinance.com) - Bouygues has reported a net loss (group share) of 244 million euros for the first six months of 2020, down 469 million euros year-on-year, with a net loss from recurrent operations of 132 million euros, down 585 million euros.
The conglomerate explains that these falls are entirely due to the Covid-19 impact, estimated at -650 million euros over the half year, and that after reaching a low point in April, its underlying operating result became positive again as of June.
Sales reached 14.8 billion euros, down 15% year-on-year (-15% LFL), a fall that is entirely due to Covid-19. Revenues declined by 19% in France and by 10% internationally.
Although it has not yet set new targets for 2020, Bouygues believes that it "will return to significant profitability in the second half of 2020, without reaching the particularly high levels of second-half 2019".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The conglomerate explains that these falls are entirely due to the Covid-19 impact, estimated at -650 million euros over the half year, and that after reaching a low point in April, its underlying operating result became positive again as of June.
Sales reached 14.8 billion euros, down 15% year-on-year (-15% LFL), a fall that is entirely due to Covid-19. Revenues declined by 19% in France and by 10% internationally.
Although it has not yet set new targets for 2020, Bouygues believes that it "will return to significant profitability in the second half of 2020, without reaching the particularly high levels of second-half 2019".
Copyright (c) 2020 CercleFinance.com. All rights reserved.