(Reuters) -France’s Bouygues posted slightly better-than-expected full-year core earnings on Thursday, as positive performances in its energy division Equans and construction unit helped offset a sharp decline in the real estate business.
The construction-to-telecoms group reported a 2024 current operating profit from activities (COPA) of 2.54 billion euros ($2.75 billion), above the company-compiled consensus of 2.52 billion.
Bouygues’ full-year sales totalled 56.75 billion euros, falling short of the consensus estimate of 56.85 billion euros.
Equans posted a 2% year-on-year increase in sales, supported by the installation of solar farms, data centres, hospitals, and high-tech plants, while gradually exiting the new-build business in the UK.
Sales at the construction unit climbed 6%, fuelled by a strong increase in the International Building segment, while revenue at Bouygues’ real estate division dropped 17% due to a sharp decline in the residential property sub-division.
Last April, the group announced plans to lay off more than a fifth of the struggling unit’s staff in France, with the results expected in the fourth quarter.
Telecom sales were up 1% year-on-year, as 615,000 new fiber-to-the-home (FTTH) customers were added, along with 339,000 new mobile customers and 2.4 million La Poste Telecom customers.
Bouygues completed the La Poste Telecom acquisition in November, with consolidation set to occur gradually between 2025 and 2027. The company also plans to launch a fixed offer in the fourth quarter of 2025.
The company proposed a dividend for 2024 of 2 euros per share, up 5.3% year-on-year.
The family-owned group expects a slight increase in sales and COPA in 2025, compared with 2024.
Bouygues acquired Equans from French power group Engie in October 2022, as the family-owned group — already active in civil engineering, construction, media, and telecom sectors — looks to expand its presence in the energy transition and services markets.
($1 = 0.9246 euros)
(Reporting by Michal Aleksandrowicz; Editing by Sherry Jacob-Phillips)
