Consensus

Given the low number of responses and very substantial differences, Bouygues is not in a position to publish a consensus for first-quarter 2020 and FY2020.

Before each earnings release, Bouygues collects and formally releases all the forecasts issued by the sell-side analysts in charge of stock coverage. The aim of this approach is to provide the market with a consensus that is as reliable and representative as possible.

This consensus is published on Bouygues’ website before the earning release, so that those interested (investors, analysts, shareholders, journalists) can access it at the same time.

The following data are collected:

• Group sales
• Group current operating profit
• Group net profit (attributable to the Group)

Procedure:

All the analysts’ estimates must be sent to the group by email. The median, the maximum and the minimum of the sample will be published. All the analysts’ contributions will remain anonymous and no commentary will be given by the Group, in compliance with the stock-market regulation.