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Bouygues Telecom raises profitability goal after strong 9-months
November 16, 2017 / 6:47 AM / a month ago

Bouygues Telecom raises profitability goal after strong 9-months

PARIS, Nov 16 (Reuters) - French conglomerate Bouygues reported a 37 percent jump in nine-month operating profits, helped by a robust performance at its telecoms arm - which raised its forecasts - and by improving trends in the construction market in France.

The family-controlled group, which also builds roads and owns France’s biggest private TV broadcaster TF1, kept its target for an improvement in group profits in 2017 while Bouygues Telecom raised its 2017 goal for its EBITDA (earnings before interest, depreciation and amortisation) margin.

Nine month revenues rose 3 percent to 23.828 billion euros ($28.10 billion), while the current operating profit rose by 37 percent to 976 million euros. This included a capital gain of 28 million euros on the sale of 50 percent of its ‘Nextdoor’ arm.

A company-compiled consensus of analysts’ expectations gave a forecast for an operating profit of 934 million euros and sales of 23.703 billion euros.

Bouygues Telecom was now expecting a 2017 EBITDA margin between 26-27 percent, compared to an earlier goal for a margin of slightly above 25 percent.

$1 = 0.8480 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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