For the six months to 30th June 2020 Bouygues made a net loss of 鈧�244m, compared to a 鈧�225m first-half profit last year. Sales for the period were down 15% to 鈧�14,758 (2019 H1: 鈧�17,446m).
The construction businesses reported a current operating loss of 鈧�437m in first-half 2020, versus a current operating profit of 鈧�72m a year earlier.
Sales in the construction businesses were down 19% to 鈧�10.8bn in first half of 2020. France was particularly hard hit, with sales down 28%. International markets were down 10%.
A highlight of second-quarter 2020 was the current operating profit of 鈧�66m generated by Colas, due in particular to the rapid resumption of the roads activities, mostly in mainland France and Canada, the company said.
However, its construction backlog is at a record level 鈥� 鈧�35.7bn, up 6% year-on-year 鈥� and the group expects to return to 鈥榮ignificant profitability鈥� in the second half of 2020, although this will still be down on 2019鈥檚 numbers.
The construction order book includes a 鈧�1.1bn contract to build a section of the HS2 high-speed rail line in the UK.
The 鈧�2.7bn decrease in group first-half sales was entirely attributable to Covid-19, the company said, which had an estimated impact of -鈧�2.8bn. In France, sales were down 19% due to the sudden lockdown on 17th March. Internationally, sales were down 10% related to the slowdown in activity and lockdown in various countries.
At group lveel, Bouygues made an operating loss of 鈧�176m for the first half, a deterioration of 鈧�671m year-on-year. It includes non-current charges of 鈧�44m, essentially at Colas, versus non-current income of 鈧�42m in first-half 2019.
Chairman and CEO Martin Bouygues said: 鈥淭he long-term trends on which the group relies remain buoyant, despite the current crisis. After a challenging first half of the year, our fundamentals and our strategy should enable us to return to growth in all three sectors of activity.鈥�
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