Registration Document BOUYGUES

Net financial debt came to €40 million, compared
with a net cash position of €17 million at end-2010.
An unrivalled television
offer
(Source: Médiamat by Médiamétrie)
The competitive environment was transformed
in 2011 by an increase in the number of players
and the end of the switch from analogue to digital
broadcasting, broadening the freeview TV offering
for French households. But TF1 confirmed its
leadership with a 23.7% share of the "individuals
4 and over" audience and a 26.7% share of "women
under 50, main household shoppers".
TF1 also claimed 99 of the top 100 TV audience
ratings in 2011 across all programme types, faithful
to its remit as a mainstream, family television channel.
TF1 scored the best audience rating in 2011
with the Rugby World Cup final between France
and New Zealand, attracting 15.4 million viewers.
TMC reported a 3.5% share of the "individuals
4 and over" demographic in 2011 compared with
3.3% in 2010, making it France’s leading DTT
channel and fifth overall. NT1 continued to grow,
achieving a 1.9% share of the "individuals 4 and
over" audience, up from 1.6% in 2010.
The overall advertising market, all channels combined
(incumbent, DTT and cable and satellite),
rose 7% in 2011 to €9 billion, driven by strong
growth in DTT revenues, making television the most
number-one advertising media in France (source:
Kantar Média).
Gross income for the TF1 channel fell 2% year on
year. The channel took a 37% share of the market,
all channels combined.
Net sales for the TF1 channel decreased 3% year
on year to €1,504 million, mainly owing to the
economic downturn that led to a fall in advertising
volumes for the incumbent channels.
The theme channels in France (freeview and pay)
generated sales of €309 million in 2011, up 22%,
notably resulting from the full consolidation of TMC
and NT1 on 1 July 2010 and from the performances
of LCI and TV Breizh. Advertising income grew
€55 million to €185 million. The division reported
an €11 million increase in current operating profit
to €39 million.
The TF1 group safeguarded the distribution of its
pay-TV offer by signing non-exclusive distribution
agreements with the main cable, satellite and ADSL
operators in France. The agreements underscore
the appeal of the group’s pay-TV offer and serve to
consolidate its business models, securing distribution
income and broadening the audience reach
of the channels.
Internationally, the Eurosport channel reached
129 million households at end-2011. Present in
59 countries and broadcast on all pay-TV distribution
platforms in Europe, it is available in 20 language
versions.
The Eurosport group had 88.9 million paying subscribers
at 31 December 2011, for an 8% year-onyear
increase, of which nearly two-thirds were new
customers in Central and Eastern Europe. Growth
is being driven by broadcasts of targeted and
sought-after sports events and by high definition.
Eurosport International sales rose 1% to €368 million,
boosted by international growth and the
rise in subscription income. Operating profit at
31 December 2011 was €65 million, up 9%, for an
18% operating margin.
At end-2011, some 17 million
people had seen the film
The Intouchables in France
BOUYGUES • 2011 Registration Document • BUSINESS ACTIVITIES AND CSR • TF1 • 104