Bouygues Construction’s sales increase despite property market woes
27 February 2024
Bouygues’ construction business saw sales increase 2% to €27.3 billion (US$29.6 billion) in 2023, as gains in its Construction and Colas divisions offset declines in its struggling property arm.
Image via Wikimedia Commons
Like for like and at constant exchange rates, the construction business’s sales increased by 4%.
A strong performance in its International Building division (up 15%) helped Bouygues Construction’s sales to increase 5%.
Sales at Colas rose by 3%, driven by a 6% increase in its rail activities and a 3% lift in roads.
But the conglomerate’s property division, Bouygues Immobilier, saw a 14% drop in sales compared to 2022, reflecting a “challenging market environment”.
Current operating profit from activities (COPA) in the construction business was €851 million ($923.7 million) at the end of 2023, up €70 million year on year. Bouygues Construction’s COPA was flat at €281 million ($305 million). Colas recorded a COPA of €542 million ($588.3 million), up €74 million ($80.3 million) on 2022. Bouygues Immobilier’s COPA fell to €28 million ($30.4 million), down from €37 million ($40.2 million) the year before.
The total backlog for the construction businesses climbed 4% to €28.4 billion ($30.8 billion), with a 6% increase in Bouygues Construction to €15 billion ($16.3 billion), a 6% increase for Colas to €12.4 billion ($13.5 billion), and a 32% fall for Bouygues Immobilier to €985 million ($1.1 billion).
