A N N U A L R E P O R T - Bouygues
A N N U A L R E P O R T - Bouygues
A N N U A L R E P O R T - Bouygues
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<strong>Bouygues</strong> Telecom<br />
Tons directs<br />
Logotype BT Quadri<br />
Cyan Magenta Jaune -<br />
027_bt_logo_quadri.ai<br />
Couleurs autorisées à l'impression : 3<br />
- - - -<br />
Technique d'impression<br />
Tons à composer<br />
24/10/05<br />
Document<br />
C 100 + J 25 M 70 + J 100 C 100 + M70 -<br />
- - - -<br />
Ce fichier est un document d'exécution et non un document de gravure prêt à flasher (sauf<br />
indications contraires). La préparation technique reste à la charge du photograveur. La<br />
sortie laser papier de ce fichier ne constitue en aucun cas la cible couleur de référence à<br />
obtenir lors de l'impression. Les images intégrées au document sont des imports de<br />
placement uniquement (sauf indications contraires). L'incorporation des illustratrions et<br />
Ektas originaux ou des imports haute définition fournis sera réalisée lors de la gravure.<br />
28, rue Broca 75005 Paris France<br />
Paris Venise Design préconise le nombre et l'utilisation en tons directs ou à composer des www.interbrand.fr<br />
couleurs de ce document mais leur validation reste à la charge de l'annonceur et de ses<br />
tél +33 (0)1 40 53 85 85 fax +33 (0)1 40 53 85 84<br />
photograveurs/imprimeurs.<br />
0cm 1 2 3 4 5<br />
ION SERVICES<br />
> Launch of broadband i-mode services and a rise in profits in 2005<br />
billing at 2004 call termination rates)<br />
to €44.6 per month in 2005.<br />
An attractive loyalty programme and<br />
high-quality customer service helped<br />
to limit churn among contract customers<br />
to 1.3% in 2005.<br />
Results and financial situation<br />
Consolidated EBITDA in 2005 amounted<br />
to €1,349 million, equivalent to<br />
31.8% of net sales from network.<br />
Because mobile-to-mobile billing<br />
caused net sales from network to<br />
swell by €665 million, the EBITDA<br />
margin rate calculated on that basis<br />
is not directly comparable with the<br />
equivalent figure for previous years.<br />
Customer growth and cost controls<br />
caused a like-on-like improvement to<br />
the margin of 3.3 points in comparison<br />
with 2004.<br />
The current operating profit rose by<br />
10% to €656 million, while the operating<br />
profit amounted to €598 million<br />
after a €58 million charge for the fine<br />
imposed by the Competition Council<br />
for alleged collusion.<br />
The consolidated net profit amounted<br />
to €352 million, an increase of 6%. It<br />
would have been €410 million excluding<br />
the fine, an increase of 23.5%.<br />
Since 2002, cash flow has been sufficient<br />
to finance capital expenditure<br />
and reduce debt. Rollout of the Edge<br />
technology cost €240 million, spread<br />
over 2004 and 2005. Total gross<br />
Sales<br />
€bn<br />
3.7<br />
4.5 4.6<br />
Number of i-mode<br />
customers thousand<br />
1,400<br />
Net profit (Group share)<br />
€m<br />
332<br />
352<br />
2004 2005 2006 (o.) 2004 2005<br />
(o.) : objective<br />
500<br />
1,000<br />
Number of i-mode<br />
sites<br />
235<br />
2003 2004 2005 2003 2004 2005<br />
Market share by value<br />
(%)<br />
19.7<br />
18.9<br />
18.2<br />
300<br />
350<br />
Contract customers<br />
(%)<br />
68.4<br />
66.1<br />
64.4<br />
2003 2004 2005 2003 2004 2005<br />
IFRS<br />
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER<br />
ASSETS (€m - IFRS) 2004 2005<br />
Interbrand ParisVenise<br />
• Tangible and intangible fixed assets 3,133 3,078<br />
• Goodwill 12 12<br />
• Non-current financial assets 428 205<br />
NON-CURRENT ASSETS 3,573 3,295<br />
• Current assets 802 1,011<br />
• Cash and equivalents 15 5<br />
• Financial instruments (debt-related) 12 -<br />
CURRENT ASSETS 829 1,016<br />
TOTAL ASSETS 4,402 4,311<br />
LIABILITIES (€m - IFRS)<br />
• Shareholders’ equity attributable to the Group 1,783 2,132<br />
• Minority interests - -<br />
SHAREHOLDERS’ EQUITY 1,783 2,132<br />
• Long-term debt 1,187 434<br />
• Non-current provisions 30 54<br />
• Other non-current liabilities - -<br />
NON-CURRENT LIABILITIES 1,217 488<br />
• Debt (amount due within one year) 9 11<br />
• Current liabilities 1,365 1,679<br />
• Short-term bank borrowings and overdrafts - -<br />
• Financial instruments (debt-related) 28 1<br />
CURRENT LIABILITIES 1,402 1,691<br />
TOTAL LIABILITIES 4,402 4,311<br />
NET DEBT 1,197 441<br />
CONSOLIDATED INCOME STATEMENT<br />
(€m - IFRS) 2004 2005<br />
SALES 3,666 4,537<br />
CURRENT OPERATING PROFIT 597 656<br />
• Other operating income and expenses - (58)<br />
OPERATING PROFIT 597 598<br />
• Cost of net debt (62) (26)<br />
• Other financial income and expenses (7) -<br />
• Income tax expense (196) (220)<br />
• Share of profits and losses of associates - -<br />
NET PROFIT BEFORE DISCONTINUED<br />
OR HELD-FOR-SALE OPERATIONS 332 352<br />
• Net profit of discontinued or held-for-sale operations - -<br />
TOTAL NET PROFIT 332 352<br />
• Minority interests - -<br />
CONSOLIDATED NET PROFIT ATTRIBUTABLE TO THE GROUP 332 352<br />
BUSINESS ACTIVITIES<br />
39
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