2024 Integrated Report

Our business model

Strategy

Our business model

The Bouygues group’s business model is based on sustainable macro-trends linked to the challenges facing society: demographic growth and urbanisation, the green, digital and industrial transitions, and changing practices and lifestyles. Its business segments provide solutions to these challenges. This resilient model drives growth over the long-term, future-proofing the Group and creating value for its stakeholders.

ETHICS AS A PRIORITY

A permanent commitment by the Group to ethical business practices An official Group Human Rights Policy

Our resourcesa
PEOPLE AT THE HEART OF THE GROUP
  • ~200,200 employees in over 80 countries (75% in Europe)
  • 21.6% of the Group's share capital held by six funds representing employees
METICULOUS FINANCIAL MANAGEMENT UNDERPINNING OUR GROWTH
  • €14,512 million in shareholders’ equity
  • Tight control of net debt (€6,066 million)
  • Robust credit ratings: Moody’s: A3, stable outlook; S&P: A-, negative outlook
SUSTAINABLE USE OF NATURAL CAPITAL
  • Energy: 10.4 TWh of final energy used in 2024, o/w 18% low-carbon energy. Electricity used represents 15% of this (1.6 TWh), o/w 83% low-carbon electricity (30% from renewable sources and 53% from nuclear sources)
  • Materials: concrete, steel, and bitumen
BUSINESSES BACKED BY PRODUCTIVE AND INTELLECTUAL CAPITAL
  • Productive capital:
    • Construction: 3,500 materials production units (quarries, asphalt mixing and ready-mix concrete plants, bitumen production plant) at Colas
    • Telecoms: 29,000 Mobile sites, 38 million FTTHb premises marketed, quality mobile and fixed networksc, 510 stores throughout France
  • Intellectual capital:
    • 467 patents filed (as at end-2024)
    • Colas’ Core Centre, the leading private road construction research centre in the world

A HEALTHY BALANCE SHEET

PERMANENT AND CONSTRUCTIVE LABOUR RELATIONS

77.2% turnout in workplace elections in France

What we do for our customers
Construction businesses

COLAS, BOUYGUES CONSTRUCTION, BOUYGUES IMMOBILIER

48% of sales

  • Building: construction of eco-neighbourhoods; construction and renovation of public infrastructure (hospitals, schools), and of residential, industrial and commercial property; property development
  • Infrastructure: construction, renovation and maintenance of transport infrastructure (metro and tram systems, railways, soft mobility infrastructure, ports and airports, roads, tunnels) and low-carbon power generation infrastructure (nuclear power plants, wind farms)
  • Materials: production and recycling of construction materials
Media business

TF1

4% of sales

  • Media: leading private television group in France, spanning both linear production and broadcasting (5 unencrypted channels, 3 theme channels) and streaming (TF1+) of content funded primarily through the sale of advertising space (unique coverage of the French populationd)
  • Studio TF1: TV content production and distribution
Energies & Services business

EQUANS

34%of sales

  • Local services: supply of energy, connectivity and maintenance services to buildings, factories and urban environments at local level
  • Processes and specialist services: specialist teams for projects involving industrial, energy, defence, shipping and transport processes
  • Six areas of expertise: electrical engineering, HVAC engineering, mechanical engineering, robotics, digital technology and telecoms: consulting, design, installation, operation, maintenance, performance optimisation and decarbonisation
Telecoms business

BOUYGUES TELECOM

14%of sales

  • Telecommunications networks: roll-out and management of Mobile and Fixed networks, especially fibre
  • Connectivity solutions:
    • High-quality Fixed and Mobile telecommunications services throughout France
    • Digital transformation support for businesses

A STABLE OWNERSHIP STRUCTURE THAT SECURES A LONG-TERM VISION

Our value creation a
FOR OUR EMPLOYEES
  • Remuneration: €11.7 billion in remuneration and benefits paid, such as salaries, bonuses and voluntary profit-sharing
  • Occupational health and safety: accident frequency rate of 3.55% and accident severity rate of 0.28%
  • Employee benefits: a common core of benefits (healthcare, retirement savings, personal risk coverage etc.) and parental leave coverage for non-France employees from 2024 (ByCaree)
  • Training: average of 19.8 hours of training per employee trained
  • Recruitment: 50,100 new hires (18% women)
  • Group and business segment commitments to gender balance
  • Diverse career paths thanks to the broad range of professions and assignments
FOR OUR CUSTOMERS
  • A trustworthy long-term partner that keeps its pledges (lead times, quality, reliability, price)
  • Access to digital technology throughout France thanks to high-quality Mobile and Fixed networksc
  • Contribution to a decarbonised value chain and support for customers for their green, industrial and digital transitions (318,582 MWh in decarbonised capacity rolled out)
FOR OUR PARTNERS, SUPPLIERS AND SUBCONTRACTORS
  • €36.7 billion in procurement and external expenditure
  • 1,502 suppliers assessed via the EcoVadis platform
  • Long-term partnerships
  • Award of the Responsible Supplier Relations & Purchasing labelf to Bouygues Construction
FOR THE FINANCIAL COMMUNITY
  • €816 million in dividends paid out in 2024
  • 5.3% average dividend yield over 10 years
FOR CIVIL SOCIETY
  • Taxes and levies paid: €4.6 billion, o/w €3.3 billion in social security contributions, effective tax rate of 33.4% (consolidated scope)
  • €17 million in donations and patronage spending
  • Contribution to social diversity and employment opportunities for local communities
  • Contribution to urban planning and improving access to rural areas
  • 1,415 deserving students supported and mentored by employees and former grant-holders in 2024
FOR THE ENVIRONMENT
  • GHG emission reduction targets for the six business segments by endorsed by SBTig
  • Act4Nature pledges in favour of biodiversity made by Bouygues Construction, Bouygues Immobilier and TF1
  • TF1 is a founding member of Ecoprod
  • Roll-out of Cyneo at Bouygues Construction (repurposing of building materials), of Recycol at Colas (rehabilitation of damaged or end-of-life road surfaces), and of Valormat and Ecotri at Colas (recycling of building waste)