Bouygues Targets Stable 2026 Results After 2025 Growth

The French conglomerate BOUYGUES SA has issued a cautious financial outlook for 2026, forecasting stable sales and core earnings. This guidance marks a shift from the modest growth anticipated for 2025, as the company prepares for ongoing challenges within the linear television advertising sector in France. The group expects its energy-services arm, Equans, to play a pivotal role in offsetting lower profits from its broadcasting division, TF1. Equans is currently on track to achieve an operating margin of 5% by 2026, reaching this milestone a year ahead of the strategic targets set in 2023 after its acquisition. For the 2025 fiscal year, the family-owned enterprise reported revenue of 56.9 billion euros ($67.2 billion) and a current operating profit of 2.6 billion euros. These results met the consensus of analyst expectations. Management indicated that the primary objective is to sustain operating profits at record levels through 2026 following several years of consecutive growth. In terms of shareholder returns, the company has proposed a dividend of 2.10 euros for the year, a 5% increase over the 2024 payout. Regarding strategic acquisitions, the group noted that due diligence is ongoing for a joint bid to acquire the telecommunications operations of Altice France in partnership with Orange and Iliad. The company intends to provide further updates on this transaction when appropriate.