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Analysis of construction activities*
Order book
At the end of June 2021, the construction activities order book remains at a high level of €33.3 billion and offers good visibility on future activity. This compares to an order book at the end of June 2020 of €35.7 billion. It was down 6%** year-on-year due to a high comparison basis at the end of June 2020 (very low order book consumption due to lockdowns and the winning of several major contracts in the first half of 2020). At the end of June 2021, international business now represents 64% of Bouygues Construction and Colas' order book at the end of June 2021, up by 1 point compared with the end of June 2020.

At Bouygues Construction, the order book stands at €20.96 billion. The latter is down 9%** compared to the end of June 2020 and is at a level comparable to that of the end of June 2019. As a reminder, there is a high comparison basis with the end of June 2020, linked to the recording of the contract for the construction of a section of the HS2 high-speed rail line in the United Kingdom for €1.1 billion.***
Turnover from construction activities was €12.8 billion for the first half of 2021, an increase of 18% year-on-year (up 19% at constant scope and exchange rates). This increase is driven by France (up 35% over one year). The first half of 2020 was characterised by the entry into strict lockdown on 17 March followed by a gradual restart of activities. Compared to the first half of 2019, turnover is down by 3%. Internationally, turnover from construction activities increased by 5% (down 5% compared to the first half of 2019).

Bouygues Construction recorded sales of €6.3 billion, 57% of which was generated outside France.

Operating margin
The current operating income of the construction activities improved significantly year-on-year (up €520 million) and reached €83 million, a higher level than in the first half of 2019.
For Bouygues Construction, it is €166 million.

The Group's financial structure is very robust. On the strength of the results for the first half of 2021, the Group is raising its outlook, in an environment still impacted by the Covid-19 pandemic:

- In 2021, sales and current operating income should be very close to the 2019 level. The current operating margin should return to its pre-crisis level. (Previously, the Group expected sales and earnings to be well above 2020 levels, but not at 2019 levels).

- In 2022, the current operating income should continue to grow and exceed its 2019 level. (Previously, the Group estimated that current operating income in 2022 should return to a level equivalent to or slightly above that of 2019).
Group climate strategy
The Group received an award for its sustainability performance. In the first half of 2021, the Bouygues Group was awarded a C+2 rating by the extra-financial rating agency ISS ESG and was classified in the “Prime” category in the construction sector for its commitment to corporate social responsibility.

On 24 August 2021, the Board of Directors of Bouygues Construction appointed Pascal Minault as Chairman and Chief Executive Officer, replacing Philippe Bonnave, who is joining Bouygues SA to take up assignments with the general management in the construction sector.

To find out more, click here

Find the full results of the Bouygues group by clicking here.

* Bouygues Construction, Bouygues Immobilier, Colas
 ** At constant exchange rates and excluding main divestitures and acquisitions
*** Excluding studies and preparatory work previously recorded for €140 million


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