Bouygues jumps on Equans targets, supportive group guidance

COLAS SA

23/02/2023 09:33

** Shares in Bouygues  BOUY.PA  jump 2.4% as the French
construction-to-telecoms conglomerate set strategy targets for
newly acquired Equans after reporting a jump in annual operating
profit 
    ** In addition, it said the group total sales in 2023 were
expected at a similar level of those of 2022
        ** Credit Suisse notes 2023 guidance looks consistent
with its own "slightly bullish" forecasts, the broker says
  
    ** "Equans guidance does not appear to include a revenue
reset (as we had feared given Bouygues conservative accounting)
and the clearer commitment to a 5% margin target is in our view
supportive," it adds  
    ** J.P. Morgan says Equans guidance was better than feared
    ** The construction, telecoms and media group reports
current operating profit of 1.96 billion euros for 2022,
compared with 1.69 billion euros a year earlier
 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))