(AFP / LOIC VENANCE)
The Bouygues group suffered a net loss of 146 million euros in the first quarter, which widened by 12 million in one year, but confirms its outlook for 2024, with a significant order book in construction.
The company is suffering in particular from the real estate crisis, but above all, “like every year, the results for the first quarter are not representative, mainly due to the seasonality of Colas’ activities (roads)”, underlines Bouygues, which also explains having taken over Colas 100% since the publication of the results for the 1st quarter of last year.
The group’s turnover for the first three months amounted to 12.3 billion euros, an increase of 3%.
For 2024, “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 compared to 2023.
In its construction activities, it has an order book of more than 30 billion euros at the end of March 2024, providing visibility on the activity.
Bouygues Immobilier, which represents around 3% of its activity, is still “facing a difficult market environment, offering little visibility on the recovery timetable”, explains the group. These first three months, reservations in the residential sector have generally remained stable, but in the tertiary sector commercial activity remains at a standstill, and the order book is overall down 29% compared to the first quarter of 2023.
Bouygues Immobilier announced on April 8 its intention to eliminate 225 positions, via a plan favoring volunteering and internal reclassification, explains the group.