Bouygues Reports Resilient Profitability Amidst Q1 Sales Decline, Confirms Full-Year Outlook
Bouygues reported a 1.7% year-on-year decrease in sales at constant exchange rates for Q1 2026, reaching €12.2 billion. However, the company's operating profit from activities saw a resilient increase.
Bouygues, the French conglomerate, announced its first-quarter 2026 financial results on May 7, 2026, revealing a slight dip in sales but a more robust performance in profitability. The Group's sales stood at €12.2 billion, a 1.7% decrease year-on-year at constant exchange rates. Despite this, the current operating profit from activities remained resilient, increasing by €8 million to €77 million.
The energy services arm, Equans, continued to show improved profitability, with its margin from activities rising to 4.8%, up 0.9 percentage points from the previous year. The Construction division reported a strong backlog of €32.2 billion, providing substantial visibility for future business. Bouygues reaffirmed its full-year 2026 outlook, anticipating stable sales in constant exchange rates and maintaining its record-high current operating profit from activities.
A significant development mentioned was the entry into exclusive negotiations by a consortium including Bouygues Telecom, Free–iliad Group, and Orange to acquire SFR from Altice France. The outcome of these negotiations for the telecom assets is anticipated.
Financially, the Group's net profit attributable to Bouygues was -€94 million for the quarter, an improvement of €62 million compared to the same period in 2025. The results were impacted by an exceptional income tax surcharge for large companies in France, amounting to €25 million.