Bouygues Posts Loss In H1; Sales Down 15% – Quick Facts

Bouygues Posts Loss In H1; Sales Down 15% – Quick Facts

  • August 27, 2020
  • 0 comments

(RTTNews) – Bouygues (BOUYY.PK) reported a first half net loss attributable to the Group of 244 million euros compared to profit of 225 million euros, previous year. The Group reported a current operating loss of 132 million euros, compared to profit of 453 million euros. The company said the difference was entirely due to the impact of Covid-19, estimated at 650 million euros in first-half 2020.

First half sales were 14.8 billion euros, down 15% year-on-year (down 15% like-for-like and at constant exchange rates). The company noted that the decrease was entirely attributable to Covid-19, which had an estimated impact of 2.8 billion euros.

For the second quarter, the company reported current operating profit of 110 million euros. Group sales were 7.54 billion euros, down 21% year-on-year.

Due to the uncertainty of the ongoing Covid19 crisis and its impact for the rest of the year, the Group will not issue a new guidance for 2020. However, the Group stated that it will return to significant profitability in the second half of 2020, without reaching the particularly high levels of second half 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article