Portrait
2 min
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Bouygues Immobilier
Riding high
Dossier
2 min
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Bouygues Group
The Circular economy: Building for the future
The circular economy aims to produce zero waste in order to reduce the consumption of raw materials extracted from the environment.
Talents
2 min
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Bouygues Construction
"Sports and the Group share common values"
Find out more about the Bouygues group through portraits of its employees and interviews with them. Episode 3: Valérie Barlois Leroux, Sales director ...
Event
4 min
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Bouygues Group
Bouygues’ digital transformation is on track
In mid-November, the Bouygues group organised a Digital Transformation Day with all of its subsidiaries and partners.
Event
2 min
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Bouygues Group
Pollutec 2016: Our solutions for a sustainable and desirable urban environment
The Group is working for the sustainable city and is showcasing its solutions at the Pollutec 2016 event in Lyon between 29 November and 2 December 20 ...
Talents
2 min
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Colas
Fair winds and following seas
Find out more about the Bouygues group through portraits of its employees and interviews with them. Episode 2: Émeric Michel, Deputy operations…
Event
2 min
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Bouygues Group
COP 22: inventing tomorrow's world
The Bouygues group is taking part in COP 22 in Marrakesh between 7 and 18 November and is presenting its sustainable construction innovations there.
Insights
2 min
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Bouygues Group
Welcome!
The new corporate website is more than just a communication tool. We have revamped it to offer a new experience with a simplified menu, access to key ...
Insights
3 min
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Groupe TF1
The rules of the game
The success of Chrono Bomb’ and Trésor Detector has helped TF1 Games-Dujardin, a TF1 subsidiary, become a recognised player in the board games busi ...
In pictures
1 min
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Bouygues Construction
A new seat of justice
PARIS. In the northwest corner of the capital, Bouygues Bâtiment Ile-de-France is carrying out its largest project, the future Paris Law Courts. An a ...
Magazine
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Message from Martin Bouygues

The outstanding feature of 2016 was the sharp increase in the Bouygues group’s results, driven by Bouygues Telecom and the construction businesses. We have met or exceeded all our targets.

The Group continued to improve its profitability, recording a current operating margin of 3.5%, up 0.6 points on 2015. The current operating margin in the construction businesses increased by 0.3 points in 2016. TF1 exceeded its target for reducing the cost of programmes (a). Bouygues Telecom continued to grow, recording a 6% rise in sales in 2016 and a 3-point improvement in its EBITDA margin to 23%. The target of €400 million of savings in 2016 versus end-2013 was exceeded and net capital expenditure was in line with expectations.

"Bouygues is well positioned for the future. The business segments have adapted their strategies and organisations to the changes in their markets in order to seize new opportunities. "

We have broadened the offer portfolio with innovative solutions in response to new customer uses, particularly in terms of sustainable construction, e.g. eco-neighbourhoods, positive-energy rehabilitation of existing buildings, solar roads and flexible and collaborative workspaces; the 4G box for rural areas and the Internet of Things at Bouygues Telecom; and virtual reality in programmes at TF1.

 

 

We have strengthened the culture of flexibility and efficiency in the organisations and are rolling out a far-reaching digital transformation policy. With net debt of €1.9 billion at end-December 2016, €695 million lower than at end-December 2015, the Group’s financial structure provides scope for development.

 

 

The Group expects profitability to continue improving in 2017, driven by all business segments. The current operating margin of the construction businesses should continue to improve and profitability should carry on rising at TF1, with a double-digit current operating margin target in 2019. Lastly, Bouygues Telecom confirmed its 25% EBITDA margin target for 2017 and has set a new target of €300 million of free cash flowb in three years’ time.

"I should like to thank all our employees for their commitment and their mindset, and our customers and our shareholders for their confidence."

Martin Bouygues

23 February 2017

 

(a) Excluding non-current charges and sporting events.
(b) Free cash flow = cash flow - cost of net debt - income tax expense - net capital expenditure. It is calculated before changes in working capital requirements.

(Updated: 22 February 2017)