France's Bouygues H1 profit rises on Equans strength

Bouygues SA

30/07/2026 06:48

Overview
France diversified services group's H1 sales fell 2.2% yr/yr to €26.3 bln
Net profit attributable to the Group rose €114 mln to €287 mln despite higher tax surcharge
Company confirmed full-year outlook for stable sales and record-high operating profit from activities

Outlook
Bouygues confirms 2026 guidance for stable sales at constant exchange rates
Company aims to maintain COPA at record high level in 2026
Equans raises 2026 margin target to at least 5.2%

Result Drivers
EQUANS MARGIN IMPROVEMENT - Strong growth in Equans’ margin from activities and record order intake helped offset declines elsewhere
TELECOM FIXED GROWTH - Bouygues Telecom’s fixed operations saw strong customer additions and higher FTTH penetration, supporting sales
TF1 AND IMMOBILIER WEAKNESS - TF1 and Bouygues Immobilier reported lower sales and profits due to weak advertising and challenging property markets

Company press release: ID:nGNE8RRTgL

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
 
EUR 26.29 bln
 
H1 Net Income
 
EUR 287 mln
 
H1 Current operating profit
 
EUR 829 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy."
Wall Street's median 12-month price target for Bouygues SA is €53.00, about 14.8% above its July 29 closing price of €46.16
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
July 30 - Bouygues trounces half-year core profit estimates
July 30 - France's Spie H1 revenue rises 3.6%, net income up 11.9%
July 29 - France's Vinci H1 revenue beats on strength in Energy Solutions segment

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)