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Bouygues Group Presentation June 2017

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Bouygues Group Presentation June 2017 BOUYGUES GROUP PRESENTATION JUNE 2017 This presentation contains forward-looking information and statements about the Bouygues group and its businesses. Forward-looking statements may be identified by the use of words such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Forward-looking statements are statements that are not historical facts, and include, without limitation: financial projections, forecasts and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance of the Group. Although the Group’s senior management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and undue reliance should not be placed on such statements. The following factors, among others set out in the Group’s Registration Document (Document de Référence) in the chapter headed Risk factors (Facteurs de risques), could cause actual results to differ materially from projections: unfavorable developments affecting the French and international telecommunications, audiovisual, construction and property markets; the costs of complying with environmental, health and safety regulations and all other regulations with which Group companies are required to comply; the competitive situation on each of our markets; the impact of tax regulations and other current or future public regulations; exchange rate risks and other risks related to international activities; industrial and environmental risks; aggravated recession risks; compliance failure risks; brand or reputation risks; information systems risks; risks arising from current or future litigation. Except to the extent required by applicable law, the Bouygues group makes no undertaking to update or revise the projections, forecasts and other forward-looking statements contained in this presentation. 2 1 BOUYGUES GROUP AT A GLANCE Manahakhon Tower - Thailand Bouygues Telecom users The Wall – TV game 3 BOUYGUES GROUP’S MISSION The Bouygues group provides products and services that meet essential needs (housing, transportation, information, communication, etc.), thereby driving progress for society 4 2 WHO WE ARE A diversified industrial group Group’s key figures in 2016 acting in 3 markets 118,000 employees Construction €31.8bn sales Telecoms €1,121m current operating profit €732m net profit attr. to the group Media €1.9bn net debt 5 ORGANIZATION AT END-2016 6 3 Ownership structure at end-December A STABLE OWNERSHIP STRUCTURE 2016 Number of shares: 354 908 547 19,9% 38,1% 20,2% Bouygues totals 354,908,547 shares and 21,8% 488,430,028 voting rights, at end-Dec. 2016 SCDM (a) Employees Other French shareholders Foreign shareholders 40% of the capital (54,8% of voting rights) is Voting rights at end-December 2016 owned by the Bouygues family and employees Number of voting rights: 488 430 028 27,7% 28,8% Bouygues is the CAC 40 company with the 17,5% 26,0% highest level of employee share ownership SCDM (a) Employees Other French shareholders Foreign shareholders (a) SCDM is a company controlled by Martin and Olivier Bouygues 7 PORTFOLIO MANAGEMENT AS INDUSTRIALS ENTREPRENEURS Entering new businesses under good conditions ■ Market with long-term growth opportunities . Colas / Screg in 1986 ■ Regulatory or technological changes . TF1 in 1987 ■ Favorable financial conditions . Bouygues Telecom in 1994 . Alstom in 2006 ■ Ability to bring managerial skills Disposing of businesses under the following circumstances ■ Structural reduction of free cash-flow generation due to lack of competitiveness, or… . Maison Bouygues in 1990 market no longer offering long term growth opportunities . Bouygues Offshore in 2002 ■ Better opportunities for use of proceeds . Saur in 2005 . Eurosport International and ■ Acceptance that Bouygues is no longer the best Cofiroute in 2014 shareholder 8 4 A LONG-TERM STRATEGY THREE MAIN PRIORITIES Market high value-added offers and increasingly innovative services in response to new customer uses Ensure regular free cash flow generation over the long term Create value for all its stakeholders 9 BOUYGUES GROUP A WORLD LEADER IN CONSTRUCTION BUSINESSES Tuen Mun – Chek Lap Kok tunnel - Hong Kong 10 5 THE CONSTRUCTION BUSINESSES ARE WELL POSITIONED IN MARKETS WITH LONG-TERM GROWTH POTENTIAL TWO MAJOR TRENDS BOOST THE GLOBAL CONSTRUCTION MARKET IN THE LONG TERM Growing infrastructure and building needs (demographic growth, urbanization) Environmental challenges THE GROUP’S CONSTRUCTION BUSINESSES ARE WELL POSITIONED TO SEIZE THESE OPPORTUNITIES THANKS TO THEIR DIFFERENTIATING ASSETS 11 A world leading contractor in building & civil works, energy and services A leader in sustainable construction Bouygues Construction covers the entire value chain, from usage analysis to deconstruction, Orthodox cultural and spiritual center - Paris though design, construction, maintenance and Key figures in €m 2016 user services Sales 11,815 o/w France 5,527 o/w international 6,288 Current operating profit 326 Current operating margin 2.8% Operating profit 303 12 6 A leading French property developer A pure player in both residential and commercial real estate development Intown in Saint-Lazare A unique know-how in sustainable construction Key figures in €m 2016 Sales 2,568 o/w residential 2,100 o/w commercial 468 Current operating profit 167 Current operating margin 6.5% Operating profit 154 13 A world leader in construction and maintenance of transport infrastructure Key competitive advantage thanks to Renovation of Bretonne bridge near Rouen > A vertical integration with a widespread industrial Key figures in €m 2016 footprint (714 quarries, 123 emulsion plants, 565 asphalt plants, 177 ready-mix concrete plants, Sales 11,006 1 bitumen production plant) o/w France 5,779 o/w international 5,227 > A powerful R&D network Current operating profit 386 Current operating margin 3.5% Operating profit 324 14 7 CONSTRUCTION BUSINESSES SUSTAINABILITY Current operating profit (€m) and margin Recurring FCF generation (€m) Around €570m a year on average since 2003 5,3% 5,2% 6,0% 4,9% 5,0% 4,6% 812 819 4,2% 3,9% 5,0% 784 3,7% 3,8% 3,7% 3,5% 695 3,2% 3,2% 4,0% 617 488 2,8% 497 784* 487 530 1,158 3,0% 450 437 1,005 1,236 420 1005 1020 1,020 1005 368 827 1,079 1,005 831 879 2,0% 535 379 1,0% 0,0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 *Excluding the disposal by Axione of its stake in Public Initiative Networks for €163m High net cash position (€ billion) 3,7853,837 3,780 3,547 3,404 3,175 3,281 3,308 2,794 2,440 2,495 2,587 2,259 1,689 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 High speed lane between Tanger and Kenitra in Morocco 15 BOUYGUES GROUP THE LEADING FRENCH MEDIA GROUP AND A MAJOR ACTOR IN TELECOMS 16 8 The leading private television group in France > 5 complementary freeview channels > A number of pay-TV channels A multi-channel, multi-media, multi-business Morning news on LCI strategy Key figures in €m 2016 > Develop an attractive and distinctive content offering Sales 2,063 while keeping costs under control o/w TF1 group advertising 1,530 > Broaden content distribution by multiplying distribution Current operating profit 129 channels Current operating margin 6.3% > Generate more revenue from content Operating profit 45 17 A major player in the fixed and mobile French telecom market > 13M Mobile customers at end-2016 > 3M Fixed customers at end-2016 Key figures in €m 2016 Committed to delivering the best possible digital Sales 4,761 experience for everyone by developing uses o/w sales from network 4,055 EBITDA 916 A recognized quality of its mobile and fixed EBITDA/sales from network margin 22.6% networks and “best value for money” offers Current operating profit/(loss) 149 Operating profit/(loss) 169 Net capital expenditure 802 18 9 BOUYGUES GROUP KEY STRENGTHS New coastal road – La Réunion island 19 A STRONG AND DISTINCTIVE CORPORATE CULTURE MEN AND WOMEN SHARING THE SAME VALUES > Respect > Trust > Fairness MANAGEMENT BASED ON EMPOWERMENT, ENCOURAGING SELF-RELIANCE AND INITIATIVE RESPECTFUL AND CONSTRUCTIVE LABOR RELATIONS Employees of Bouygues Immobilier 20 10 STRONG PRESENCE IN INTERNATIONAL MARKETS BOUYGUES OPERATES IN GROWING COUNTRIES WITH A LOW-RISK PROFILE NORTHERN AND CENTRAL EUROPE: 0% RUSSIA: +1.1% 39% UK: +1.5% Switzerland: +1.9% NORTH AMERICA Poland: +3.1% 26% US: +2.3% Canada: +1.9% 1% SOUTHERN EUROPE: +1.4% 2% MIDDLE EAST: +3.1% 10% AFRICA: +2.8% ASIA: +6.4% Construction businesses: regional sales 3% SOUTH AMERICA: +1.2% 19% % as a proportion of total international AUSTRALIA: +3.1% sales in 2016 %: IMF economic growth forecast for 2017 Region classified A by Coface (low risk) %: IMF economic growth forecast for 2017 Region classified B and C by Coface (medium to high risk) 21 A SOUND FINANCIAL PROFILE Group’s net debt (€m, at end-December)
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