(Boursier.com) — After yesterday’s 8% surge in the wake of its results publications, Bouygues consolidates at 36.65 euros this Wednesday at the start of the session. The conglomerate recorded a current operating profit from activities of 2.41 billion euros in 2023, up 19%, driven by the contribution of Equasens. Turnover jumped 26% to 56.02 billion euros (+4% at constant exchange rates and scope). “In an uncertain economic and geopolitical environment, and after a year of strong growth, Bouygues is targeting a slight increase in turnover and current operating income from activities (ROCA) for 2024 compared to 2023,” management indicated.
The group also announced the payment of a dividend of 1.90 euros per share for the year 2023, an increase of 10 euro cents compared to 2022…
According to Oddo BHF, the 2024 outlook should not call into question the sector’s “funding short” status. Goldman Sachs (‘neutral’) estimates that the fourth quarter was “good”, even if forecasts seem weak. The outlook, however, probably comes as no surprise given the economic and political uncertainty. The main factor of weakness concerns construction activity…
Citi (‘neutral’) spoke of “solid” results with dividend guidance faster than expected, despite “significant headwinds” in certain activities. The objectives were met in 2023, and telecoms margins continue to improve, even if the outlook in other businesses is more mixed. HSBC, finally, is buying on Bouygues with an adjusted target of 40 to 43 euros.
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