By Ed Frankl
Bouygues SA said Thursday that it swung to a net loss in the first quarter, though sales increased and its backlog in construction and services rose.
The French construction and media company said net loss in the three months to the end of March was 131 million euros ($137.7 million), compared with a net profit of EUR21 million a year earlier.
Unlike this year, 2021’s first-quarter net-profit figure included a EUR120 million contribution from Alstom SA.
Sales rose 6% to EUR8.20 billion, it said.
The Paris-based company said its operating loss of EUR93 million including charges related to the planned acquisition of Equans and the proposed merger of channels TF1 and M6, and others related to projects at Bouygues Construction and TF1. Bouygues said the Equans deal and the proposed TF1-M6 merger are on schedule.
Backlog at its construction and services businesses at the end of March rose 4% to EUR34.6 billion, a high level that provides good visibility on future activity, the company said.
The company maintained its 2022 outlook, including a further increase in sales and current operating profit versus 2021.
Write to Ed Frankl at [email protected]
Credit: www.marketwatch.com /