Bouygues: return to profit over nine months
(CercleFinance.com) - Bouygues reports that its net income, group share has become positive once again, reaching 283 million euros in the first nine months of 2020 (compared with a loss of 244 million euros in the first half), with an underlying operating margin of 2.
7% compared with a 0.9% loss over six months.
The conglomerate's revenue amounted to 24.9 billion euros, down 10% year-on-year, albeit with a strong improvement in the third quarter to +1% on an organic basis (after -8% in Q1 and -21% in Q2 year-on-year).
This performance reflects the catching-up of activity in the construction business and advertising investments at TF1, as well as sustained growth in services sales at Bouygues Telecom.
This return to high profitability has led Bouygues to raise its forecasts for the second half of 2020: for this period, it now expects an underlying operating margin to be just above its level in H2 2019.
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7% compared with a 0.9% loss over six months.
The conglomerate's revenue amounted to 24.9 billion euros, down 10% year-on-year, albeit with a strong improvement in the third quarter to +1% on an organic basis (after -8% in Q1 and -21% in Q2 year-on-year).
This performance reflects the catching-up of activity in the construction business and advertising investments at TF1, as well as sustained growth in services sales at Bouygues Telecom.
This return to high profitability has led Bouygues to raise its forecasts for the second half of 2020: for this period, it now expects an underlying operating margin to be just above its level in H2 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.