Bouygues swings to net loss, revenue grows

Bouygues SA (EN.FR) said Thursday that it swung to a loss in the first quarter of 2019 while revenue grew, and confirmed its 2019 guidance.

The French industrial conglomerate made a net loss of 59 million euros ($66.1 million), compared with a restated net profit of EUR14 million a year earlier, it said. Bouygues mainly attributed the decline to a lower contribution from Alstom during the period.

Sales came in at EUR7.93 billion from EUR6.83 billion a year earlier, driven by a good performance in all its sectors, the group said.

The first quarter isn’t generally indicative of full-year performance due to the seasonal nature of the group’s Colas road-construction unit, the company said.

Bouygues Telecom signed up 459,000 new customers in the quarter and increased its sales by 13% year-on-year, Bouygues said.

The order backlog at Bouygues’ construction business climbed 9% on year to EUR34.4 billion, the company said. On a like-for-like basis and at constant exchange rates, the order backlog rose 4%.

Bouygues confirmed its 2019 outlook, which includes improved group profitability and free cash-flow generation of EUR300 million at Bouygues Telecom.

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