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

STOCK MARKET
1. BOUYGUES ON THE STOCK MARKET IN 2005
1.1. Shares
Bouygues shares are listed on Euronext’s Eurolist (compartment A). There were 336,762,896 shares and
investment certificates in issue at 31 December 2005.
During 2005, 2,393,590 shares were issued as a result of the exercise of stock options; 9,972,331 shares
were issued in a capital increase reserved for employees under the Bouygues Confiance 3 employee
share ownership plan; and 8,361,649 shares were cancelled. The average number of shares and investment
certificates in issue during 2005 was 332,036,321. The average daily volume traded was 1,359,232
securities, 2.3% higher than in 2004.
On 7 January 2005, an exceptional payout of €5 per share or investment certificate was made.
In 2005, Bouygues was the 21 st best performing share in the CAC 40, rising by 21.5% and closing at a
price of €41.3 on 31 December. After adjusting the share price trend for reinvestment of the exceptional
payout, growth in the share price was 41.6%. The CAC 40 index advanced by 23% in 2005, continuing the
recovery that began in 2004.
On 7 January 2005, the date on which the €5 per share exceptional payout was made, there was a
mechanical correction in the Bouygues share price, which fell from €35.24 (closing price on 6 January
2005) to €30.2 (opening price on 7 January 2005).
Since then, the shares have risen sharply, boosted by strong performances from the Construction businesses
in terms of sales, earnings and order books.
Number
of shares
Net
Dividend (€) Quoted market price Dividend yield
based on closing
Tax
Total High Low Closing price (%)
credit
2001 343,158,371 0.36 0.18 0.54 57.95 25.11 36.99 1.5
2002 343,801,210 0.36 0.18 0.54 38.80 20.40 26.31 2.1
2003 332,671,539 0.50 0.25 0.75 28.28 16.61 27.72 2.7
2004 332,254,414 0.75 (1) - 0.75 34.26 25.94 34.00 2.2
2005 336,289,029 0.90 (1) - 0.90 42.67 28.75 41.30 2.2
1.2. Investment certificates
Bouygues investment certificates are listed on Euronext’s Eurolist (compartment A). The table below
shows changes in the number of investment certificates (issued in 1986), the dividend paid, and the
dividend yield over the last five years:
Number of
investment
certificates
entitled to
dividend
Net
Dividend (€) Quoted market price Dividend yield
based on
Tax
closing price
Total High Low Closing
credit
(%)
2001 593,008 0.36 0.18 0.54 47.47 29.16 37.60 1.4
2002 560,709 0.36 0.18 0.54 40.90 20.26 23.85 2.3
2003 528,430 0.50 0.25 0.75 30.00 16.74 26.20 2.9
2004 504,210 0.75 (1) - 0.75 37.18 23.10 35.00 2.1
2005 473,867 0.90 (1) - 0.90 39.00 25.31 36.30 2.5
(1) The tax credit has been abolished with effect from 1 January 2005. The dividend now entitles individuals tax-resident in France to 50% tax
relief.
On 28 February 2006, the investment certificate was trading at €40.
The Annual General Meeting of 27 April 2006 will be asked to approve the reconstitution of all the investment
certificates and voting rights in issue as ordinary shares. For details of this proposal, refer to page
137 of this Annual Report.
(1) The tax credit has been abolished with effect from 1 January 2005. The dividend now entitles individuals tax-resident in France to tax relief
(of 50% in 2005 and 40% in 2006).
On 28 February 2006, the share was trading at €44.06.
LEGAL AND FINANCIAL INFORMATION
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