Registration Document BOUYGUES

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1 The Group Contents Group profile 8 Board of Directors 12 Management team 13 2011 key figures 14 Financial highlights 14 Sales 14 2011 sales by region 14 Current operating profit 15 Net profit attributable to the Group 15 Adjusted earnings per share 15 Dividend per share 15 Cash flow 16 Net capital expenditure 16 Free cash flow 16 Net debt 17 2012 sales target 17 Highlights 18 Highlights since 1 January 2012 22 Bouygues and its shareholders 24 Registered share service 24 Investor relations 24 bouygues.com website 24 Corporate, social and environmental responsibility 26 Bouygues and CSR 26 Ethics and human rights 29 Labour relations and working conditions 29 Environmental policy 43 Improving products and services for the benefit of customers 46 Communities and local development 46 Group-wide CSR actions 48 Outlook 51 1952-2012: 60 years of challenges. From Riyadh University in Saudi Arabia to the "French Pentagon" (the new French Ministry of Defence) in Paris, Bouygues builds complex and often spectacular projects. The QP District project in Doha (Qatar), on which 6,000 employees work at peak periods, including about 270 engineers and technicians. BOUYGUES • 2011 Registration Document • 7
Group profile strategy. Its two largest shareholders are SCDM, a holding company controlled by Martin and Olivier Bouygues, and the Group’s employees. Founded in 1952, the Bouygues group now has operations in over 80 countries. With a strong and distinctive corporate culture, it has solid foundations on which to pursue growth. Colas completes around 100,000 projects worldwide each year Bouygues operates in construction (building, civil works, property development and roads), telecoms and media. It is also the leading shareholder in Alstom. Listed on the Paris stock exchange (CAC 40 index, Euronext Paris Compartment A), it had a stock market capitalisation of €7.7 billion at 31 December 2011. Simplified Group orGaniSation chart at 31 December 2011 POWER-TRANSPORT-GRID B/CW 30.7% CONSTRUCTION MEDIA AND TELECOMS PROPERTY ROADS MEDIA TELECOMS 100% 100% 96.5% 43.6% 89.5% STRATEGY Bouygues is a diversified industrial group that gives priority to profitable growth and targets markets with long-term growth potential. In each of its business areas, Bouygues aims to add value to all its products and services through constant innovation while remaining competitive. The Group takes an opportunistic approach to construction markets, especially outside France. International markets, particularly in Asia and the Middle East, are now an important source of growth. THE GROUP'S ASSETS A stable shareholder structure A stable shareholder structure means that Bouygues can take a long-term approach to > Over 60,000 employees owned shares in the company at 31 December 2011, confirming Bouygues as the CAC 40 company with the highest level of employee share ownership. > Following the share repurchase tender offer at the end of 2011, SCDM owned 21.1% of the capital and 29.6% of the voting rights at 31 December 2011, while employees owned 23.3% of the capital and 28.1% of the voting rights. A strong and distinctive corporate culture The Group's corporate culture, shared by all five of its business areas, is distinguished by project management know-how and human resources management based on the three principles of its human resources charter: respect, trust and fairness. These shared values are based in particular on dialogue with social partners, the promotion of health and safety, equal opportunity, and training (see Corporate social and environmental responsibility section on p. 26-51). A focus on markets sustained by robust demand In construction, very substantial infrastructure and housing needs exist in both developed and emerging countries. BOUYGUES • 2011 Registration Document • THE GROUP • Group profile • 8
Page 1 and 2: Bouygues Construction Bouygues Immo
Page 3 and 4: Contents Interview with Martin Bouy
Page 5 and 6: A good year in 2011 Interview with
Page 7: The Group BOUYGUES • 2011 Registr
Page 11 and 12: Flagship projects 1 2 3 4 5 BOUYGUE
Page 13 and 14: The Board of Directors at 28 Februa
Page 15 and 16: 2011 key figures The Bouygues group
Page 17 and 18: caSh flow € million 3,244 e3,325
Page 19 and 20: Highlights Privée, included the re
Page 21 and 22: factS and fiGureS for 2011 (continu
Page 23 and 24: Highlights since 1 January 2012 aga
Page 25 and 26: Bouygues and its shareholders THE B
Page 27 and 28: Corporate, social and environmental
Page 29 and 30: Governance and dialogue with stakeh
Page 31 and 32: Respect "Our people are the most pr
Page 33 and 34: the work/perSonal life balance in G
Page 35 and 36: Trust "We believe in laying the gro
Page 37 and 38: headcount by reGion Scope: global H
Page 39 and 40: Fairness "All HR decisions in matte
Page 41 and 42: Gender equality Equal treatment of
Page 43 and 44: Investing in training "Within the G
Page 45 and 46: Low-carbon solutions The energy/car
Page 47 and 48: IMPROVING PRODUCTS AND SERVICES FOR
Page 49 and 50: GROUP-WIDE CSR ACTIONS Shared and G
Page 51 and 52: Sharing knowledge with BYpedia The
Page 53 and 54: Business activities and CSR BOUYGUE
Page 55 and 56: Full-service contractor Operating i
Page 57 and 58: Energy and services Bouygues Constr
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Performance Contract in Vitry-sur-S
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the Research & Development and Inno
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aims to make itself more attractive
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In all the countries where it opera
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CSR: challenges and key indicators
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Extra-financial indicators at 31 De
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France's leading property developer
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Hikari, the first positive-energy,
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RESIDENTIAL PROPERTY: BOUYGUES IMMO
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The other element is a highly perso
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For the Solid'R Community Day, empl
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dialogue wiTH sTaKeHolders - bouygu
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The world's leading roadbuilder Wit
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in some countries. Upstream, the gr
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in capital spending by local author
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Construction of the Port-Louis bypa
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Securing acceptance of production s
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vibration and working posture. Dust
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Colas is rehabilitating pathways in
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The leading private television grou
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TF1 has also created a broad range
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Net financial debt came to €40 mi
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Editorial staff mobilised The total
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Supplier commitment to the Responsi
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Mobile, fixed, TV and internet serv
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Bouygues Telecom's mobile phone net
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MVNOs accounted for 79% of new cust
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Optimised packaging for Bouygues Te
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SUPPORTING OUR PEOPLE Like other Gr
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Responsible site management Sustain
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Bouygues SA Key figures 2011 sales
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At the heart of sustainable develop
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Power transmission Orders worth €
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Risk factors BOUYGUES • 2011 Regi
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Risk factors Operational risks asso
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with good future prospects is fuell
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ased on reporting tools, serves to
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For several years, Colas has been c
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The current labour climate brings a
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in order to anticipate and neutrali
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Market value of hedging instruments
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Colas Île-de-France Normandie is c
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commitments in terms of broadcastin
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Mobile phone base stations > The ch
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Legal and financial information BOU
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Information on directors and non-vo
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François Bertière 3 boulevard Gal
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Patrick kron 3 avenue Malraux, 9230
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sandra noMBret 1 avenue Eugène Fre
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NON-VOTING DIRECTOR Michèle vilain
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Chairman’s report on corporate go
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Name Age a Accounts Committee Remun
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The Board will seek to increase the
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est or invest in a company, whether
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as well as forward transactions on
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of the company in charge of the fin
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12 • WORK OF THE BOARD AND ITS CO
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In case of internal fraud or miscon
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focus was on monitoring the action
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developing all processes and proced
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17.7 Information and communication
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Remuneration of corporate officers
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1.4 Table 3 - Directors’ fees The
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2 • 2011 REPORT ON STOCK OPTIONS
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2.2.1 Table 4 - Options granted to
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2.5 Stock options granted to or exe
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Significant changes in share owners
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3 • STOCK MARKET RULES AND PREVEN
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Share capital 1 • GENERAL INFORMA
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2 • FINANCIAL AUTHORISATIONS SUBM
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5.2 Description of the new share bu
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Legal information 1 • GENERAL INF
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Agreements entered into by Bouygues
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Financial statements BOUYGUES • 2
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Consolidated financial statements C
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CHANGES IN CONSOLIDATED SHAREHOLDER
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Notes to the consolidated financial
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Network Operators (MVNOs). This aut
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Subsequently, goodwill is carried a
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Broadcasting rights are recognised
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of rights (for external productions
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Non-current provisions are not usua
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2.14 Cash flow statement The cash f
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3.2.2 Intangible assets 1,209 Devel
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3.2.4 Non-current financial assets
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3.2.4.2 Investments in non-consolid
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4.2 Advances and down-payments on o
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NOTE 5 • CONSOLIDATED SHAREHOLDER
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6.2 Current provisions 831 Provisio
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NOTE 8 • NON-CURRENT AND CURRENT
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NOTE 9 • MAIN COMPONENTS OF CHANG
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NOTE 12 • OPERATING PROFIT 1,857
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NOTE 16 • SEGMENT INFORMATION Seg
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16.3 Analysis by geographical area
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NOTE 17 • FINANCIAL INSTRUMENTS T
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NOTE 18 • OFF BALANCE SHEET COMMI
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NOTE 19 • HEADCOUNT, EMPLOYEE BEN
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Main actuarial assumptions used to
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NOTE 21 • ADDITIONAL CASH FLOW ST
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NOTE 23 • PRINCIPAL EXCHANGE RATE
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Proportionate consolidation Constru
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INCOME STATEMENT - YEAR ENDED 31 DE
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NOTE 1 • SIGNIFICANT EVENTS OF TH
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NOTE 3 • NON-CURRENT ASSETS Balan
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NOTE 11 • DETAILS OF AMOUNTS INVO
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NOTE 18 • AVERAGE NUMBER OF EMPLO
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Combined Annual General Meeting of
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Agenda 1. ORDINARY GENERAL MEETING
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Martin Bouygues was born on 3 May 1
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BOARD OF DIRECTOR’S MANAGEMENT RE
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AUDITORS’ REPORT ON THE CONSOLIDA
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AUDITORS’ SPECIAL REPORT ON REGUL
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SCDM may also supply Bouygues with
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Agreements and commitments approved
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Draft resolutions 1. ORDINARY GENER
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3. delegates to the Board of Direct
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Glossary CONSTRUCTION 3E ® Aggrega
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Rehagreen ® A service package crea
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High-density area HSPA Interactivit
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CSR According to the ISO 26000 stan
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CSR and environmental indicators: n
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Concordance Headings of Annex 1, EU
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FULL-YEAR FINANCIAL REVIEW The 2011
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STATEMENT BY THE PERSON RESPONSIBLE
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BOUYGUES GROUP Headquarters 32 aven
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Registration Document BOUYGUES

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