France's Bouygues Q1 sales fall on exchange rate impact

Bouygues SA

07/05/2026 06:38

Overview

France diversified services group's Q1 sales fell 3.2% yr/yr to €12.2 bln

Net loss attributable to the group narrowed to -€94 mln, aided by lower exceptional tax charges

Current operating profit from activities rose to €77 mln, driven mainly by Equans

Outlook

Bouygues confirms 2026 outlook for stable sales at constant exchange rates

Company expects 2026 COPA to remain at record high after recent improvements

Equans targets 2026 margin from activities of 5% and stable sales versus 2025

Result Drivers

EQUANS PROFITABILITY - Significant improvement in Equans' margin and operating profit, despite a soft start in sales, driven by continued execution of its Perform plan

NEGATIVE EXCHANGE RATES - Sales decline partly due to negative exchange rate effects, which reduced group sales by around €200 mln

TF1 ADVERTISING WEAKNESS - TF1 sales and profit fell due to a deteriorating advertising market and increased competition from events like the Winter Olympics

Company press release: ID:nGNE4sfwqD

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
EUR 12.18 bln
Q1 Net Income
-EUR 94 mln
Q1 Current operating profit
EUR 77 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "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 €53.65, about 1.2% above its May 6 closing price of €53.00

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)