Bouygues raises telecoms target after beating profit expectations (updated)

COLAS SA

02/08/2022 07:45

(Adds detail, context)
    Aug 2 (Reuters) - French conglomerate Bouygues  BOUY.PA 
reported better than expected first-half core profit on Tuesday
and raised its telecoms division's targets for the full year.
    The construction, telecoms and media group posted current
operating profit - operating profit excluding exceptional costs
mainly related to merger and acquisition activity - of 492
million euros ($505 million) for the six months to June 30. That
beat a median forecast of 409 million euros in an analyst poll
compiled by the company.     
    The group now expects Bouygues Telecom's earnings before
interest, tax, depreciation, and amortisation (EBITDA) after
leases to increase by more than 8% in 2022, having previously
projected growth of about 7%.
    The family-run group's telecoms business achieved sales of
3.64 billion euros in the first half, up 5% from the same period
last year. 
    In addition, Bouygues Telecom changed its target of 5%
growth in sales from services to more than 5% growth in sales
billed to customers, which it said was "more representative of
its performance". 
    The group's construction and services activities, which
accounted for 74% of total revenue, reported sales of 13.72
billion euros, up 7% year on year, mainly driven by its Colas
 COLP.PA  subsidiary. 
    Net profit attributable to the group was 147 million euros,
including costs related to the acquisition of energy services
group Equans and a planned merger between its TV arm TF1
 TFFP.PA  and rival M6  MMTP.PA . 
    That was down 64% from the first six months of last year,
when net profit was boosted by the sale of several data centres
and of shares in trainmaker Alstom  ALSO.PA .
    TF1 and Bouygues last week said that the French competition
authority had concerns about the proposed merger of TF1 and M6.
 urn:newsml:reuters.com:*:nL1N2Z71RL
    
($1 = 0.9738 euros)


 (Reporting by Valentine Baldassari and Elitsa Gadeva
Editing by Christian Schmollinger and David Goodman)
 ((Valentine.baldassari@tr.com))