A N N U A L R E P O R T - Bouygues

KEY FIGURES
OPERATING PROFIT:
€1,748 million (up 12%)
(€ million – IFRS)
1,557
1,748
NET PROFIT ATTRIBUTABLE
TO THE GROUP:
€832 million (down 8%)
(€ million – IFRS)
909*
832
RECURRING NET PROFIT:
€832 million (up 19%)
700*
832
RECURRING EARNINGS
PER SHARE:
€2.51 (up 20%)
Non-recurring items
Recurring items
598
2004 2005
14
353
238
156
389
Contribution to the Bouygues Group
■ Bouygues Construction
■ Bouygues Immobilier
■ Colas
■ TF1
■ Bouygues Telecom
■ Holding and other
301
101
2004 2005
* including €209m capital
gain from Saur
176
296
Net loss from holding and other: -€132m
Contribution to the Bouygues Group
■ Bouygues Construction
■ Bouygues Immobilier
■ Colas
90
■ TF1
■ Bouygues Telecom
2004 2005
* excluding capital gain from Saur
Net profit attributable to the Group in 2005 does not
include non-recurring items. It is 8% lower than the
figure for 2004, which factored in the €209 million
gain on the disposal of Saur. Excluding this capital
gain, net profit rose by 19%.
The contribution of all business areas to Group net
profit grew.
Over the last four years, recurring earnings per
share has increased 3.3 times.
Earnings per share for 2005 was €2.51. Based on
recurring net earnings (excluding the gain on Saur
in 2004), this represents a year-on-year increase
of 20%.
At 31 December 2005, a total of 336,762,896 million
shares and investment certificates were in
issue, slightly more than at 31 December 2004
(332,758,624).
Operating profit advanced broadly in line with sales
during 2005.
The Construction businesses achieved a further
improvement in operating margin in 2005.
10