PARIS -- Bouygues Construction posted a 12% increase in sales and maintained a high level of profitability in the first nine months of 2006, with a current operating margin of 4.3%. Net profit rose by 35% to 178 million euros.
Bouygues Immobilier turned in a very strong performance. Operating margin (10.2%) continued to grow and net profit came to 69 million euros (up 17%). The sales target for full-year 2006 was revised to 1.6 billion euros due to postponements in the delivery schedule.
Colas continued to report profitable growth. Sales rose by 12%, operating margin totalled 4.9% and net profit increased by 25% to 293 million euros.
The decline in TF1's earnings was related to the cost of the Football World Cup. Net profit amounted to 172 million euros, down 5%. The capital gain resulting from the disposal of TPS to the Canal+ France group will be recorded in the consolidated financial statements for the fourth quarter of 2006.
Bouygues Telecom's performances in the first nine months of 2006 were driven by the highly popular new Neo and Exprima unlimited offers. Net sales from network rose by 1.3% in the third quarter thanks to the commercial success of the two offers. The EBITDA margin was 30.9% of net sales from network in the first nine months of 2006, down 2.5 points due to the marketing investments related to these offers. For full-year 2006, the decline will remain limited to approximately 3 points. At end-September, net profit stood at 433 million euros, including the capital gain realised in the second quarter on the sale of Bouygues Telecom Caraïbe (110 million euros).
Bouygues Telecom