Bouygues Confirms 2026 Outlook After Q1 Results
Bouygues Group's revenue fell 1.7% year-on-year in Q1 2026, but its operating performance showed resilience, and the company reaffirmed its annual outlook.
Paris – Bouygues Group reported a 1.7% year-on-year decrease in revenue to €12.2 billion for the first quarter of 2026, after accounting for currency fluctuations. The company reaffirmed its full-year 2026 outlook and announced a significant reduction in its net financial debt.
The Group's revenue stood at €12.2 billion, down 3.2% compared to the prior year. Currency effects resulted in a negative impact of approximately €200 million. The Group's current operating income (ROCA) reached €77 million, an increase of €8 million compared to the same period last year. This improvement was primarily driven by the performance of the Equans business.
Bouygues Group's net profit was -€94 million, an improvement of €62 million compared to the previous year. The result was still affected by France's exceptional tax on large company profits, amounting to €25 million. The company's net financial debt decreased by over €2 billion to €5.1 billion by the end of March 2026, significantly improving its leverage ratio.
The construction division's order book remained strong at €32.2 billion. Bouygues Telecom, Free-Groupe iliad, and Orange are currently in exclusive negotiations with Altice France for the acquisition of SFR. The company's outlook for fiscal year 2026 anticipates stable revenue on a constant currency basis and continued historically high current operating income.
Bouygues Group expects the improvement in Equans' operating income to offset anticipated declines in TF1's results due to tensions in the advertising market and in Bouygues Telecom's results from increased depreciation.