In 2024, the Bouygues group posted very robust results and achieved its guidance. Both its sales and current operating profit from activities increased year-on-year, boosted by the contributions from Bouygues Construction and Equans, whose strategic plan is being rolled out effectively. Group net debt improved year-on-year, and included net acquisitions of over €1.1 billion during the year. These results allow for the Group to offer an increased dividenda payment for the second year in a row, demonstrating its ability to create value for its shareholders.
The backlogs in the construction businesses and for Equans stood at €32.2 billion and €25.4 billion respectively, providing good visibility on future activity. TF1’s audience share also remained at a high level among its two key target audiences: WPDM<50b (33.5%), and the 25-49 age group (30.5%). Bouygues Telecom continued to gain new customers: at end-December 2024, its Mobile plan customer base stood at 18.3 million thanks to the addition of 2.8 million new customers, which included 2.4 million La Poste Telecom customers, while in the Fixed business, its FTTHc customer base reached 4.2 million thanks to the addition of 615,000 new customers over the year.
Full-year sales for the Group were €56.8 billion, up 1% versus 2023 and driven mainly by Bouygues Construction and Equans.
Current operating profit from activities (COPA) was €2,535 million in 2024, an increase of €124 million versus 2023, up 5%.
The roll-out of Equans’ Strategic Plan is highly satisfactory: margin from activities was 3.5%, up 0.6 points year-on-year, its cash conversion rate (COPA-to-cash flow) before WCRd was 98% in the upper end of the announced range (80%-100%) and the net cash position exceeded €1.5 billion, versus €981 million in 2023.
Net profit attributable to the Group came to €1,058 million, versus €1,040 million in 2023.
The Group enjoys a healthy balance sheet. Group net debt was €6.1 billion at end-December 2024, which included net acquisitions of over €1.1 billion during the year, versus €6.3 billion at the end of 2023.
These very robust results enable the Bouygues group’s Board of Directors to ask the Annual General Meeting of 29 April 2025 to approve a 2024 dividend of €2.00 per share, up 5.3% relative to the 2023 financial year.
| 2024 | SALES €m | COPA €m |
|---|---|---|
| Colas | Colas SALES €m 15,907 |
Colas COPA €m 552 |
| Bouygues Construction | Bouygues Construction SALES €m 10,340 |
Bouygues Construction COPA €m 326 |
| Bouygues Immobilier | Bouygues Immobilier SALES €m 1,451 |
Bouygues Immobilier COPA €m -51 |
| Equans | Equans SALES €m 19,170 |
Equans COPA €m 680 |
| Bouygues Telecom | Bouygues Telecom SALES €m 7,820 |
Bouygues Telecom COPA €m 795 |
| TF1 | TF1 SALES €m 2,356 |
TF1 COPA €m 297 |
| Bouygues SA and other | Bouygues SA and other SALES €m -292a |
Bouygues SA and other COPA €m -64 |
| Bouygues group total | Bouygues group total SALES €m 56,752 |
Bouygues group total COPA €m 2,535 |
In an uncertain global environment, the Group’s six business segments will continue to prove their ability to keep pace with developments in their respective markets. They will pursue their efforts to improve profitability.
As a result, the Bouygues group is targeting for 2025 a slight increase in sales and current operating profit from activities (COPA) versus 2024.
The effects of France's Finance law and Social security financing law for 2025 on net profit attributable to the Group are estimated at around €100 million.
at 31 December 2024
| LONG-TERM | OUTLOOK | |
|---|---|---|
| Standard & Poor’s | Standard & Poor’s LONG-TERM A- |
Standard & Poor’s OUTLOOK Negative outlook |
| Moody’s | Moody’s LONG-TERM A3 |
Moody’s OUTLOOK Stable outlook |
