FIRST QUARTER 2017 RESULTS RESULTS RESULTS RESULTS PRESENTATION PRESENTATION PRESENTATION PRESENTATION 17 17 17 MAY 17 MAY MAY MAY 2017 2017 2017 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
CONTENTS � HIGHLIGHTS AND KEY FIGURES � REVIEW OF OPERATIONS � FINANCIAL STATEMENTS � OUTLOOK � ANNEX 3
Q1 2017 HIGHLIGHTS As every year, Q1 results are not indicative � of the Group’s full-year performance Backlog for the construction businesses reached � a record level at end-March 2017 Bouygues Telecom ’s good commercial and financial � results confirmed its robust growth which resulted in positive current operating profit in Q1 2017 (vs a loss in Q1 2016) Full-year outlook is confirmed � 4
GROUP KEY FIGURES (1/2) Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 € €m € € m m m Change Change Change Change 2016 2016 2016 2016 2017 2017 2017 2017 Sales Sales Sales Sales 6,534 6,534 6,534 6,534 6,847 6,847 6,847 6,847 +5% a +5% +5% +5% a a a o/w France 4,361 4,601 +6% The positive trend in Q1 results gives us � o/w international 2,173 2,246 +3% confidence in our ability to meet our 2017 Current operating profit Current operating profit Current operating profit Current operating profit /(loss) (140) (140) (140) (140) (67) (67) (67) (67) + + +€ + € € €73m 73m 73m 73m objective of improved profitability Operating profit /(loss) Operating profit (227) (227) b b b b (84) c (84) c c c +€ + €143m 143m Operating profit Operating profit (227) (227) (84) (84) + + € € 143m 143m Net profit/(loss) attributable Net profit/(loss) attributable Net profit/(loss) attributable Net profit/(loss) attributable (180) (180) (180) (180) (38) (38) (38) (38) +€ + + + €142m € € 142m 142m 142m to the Group to the Group to the Group to the Group Net profit/(loss) attributable to the Net profit/(loss) attributable to the Net profit/(loss) attributable to the Net profit/(loss) attributable to the (137) (137) (137) (137) (30) (30) (30) (30) +€ + + + €107m € € 107m 107m 107m items d d d d Group excl. exceptional items Group excl. exceptional Group excl. exceptional Group excl. exceptional items items End End End- End - - - The change in net debt between � End End- -March March End End- -Dec Dec End End - - March March End End - - Dec Dec €m € € € m m m March March March March Change Change Change Change 2016 2016 2016 2016 2016 2016 2016 2016 end-December 2016 and end-March 2017 2017 2017 2017 2017 mainly reflects the usual seasonal impact Net debt Net debt 3,524 3,524 1,866 1,866 3,304 3,304 +€ + €1,438m 1,438m Net debt Net debt 3,524 3,524 1,866 1,866 3,304 3,304 + + € € 1,438m 1,438m coming from Colas (a) 5% like-for-like and at constant exchange rates (b) Including non-current charges of €87m in all businesses (c) Including non-current charges of €7m at Bouygues Telecom, €6m at TF1 and €4m at Colas (d) See reconciliation on slide 43 5
GROUP KEY FIGURES (2/2) In line with 2016, the Group has improved � its profitability in the first quarter of 2017, Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 driven mainly by Bouygues Telecom € €m € € m m m Change Change Change Change 2016 2016 2016 2016 2017 2017 2017 2017 The cost-cutting and programming � Current operating profit/(loss) Current operating profit/(loss) Current operating profit/(loss) Current operating profit/(loss) (140) (140) (140) (140) (67) (67) (67) (67) +73m +73m +73m +73m optimization strategy implemented since o/w Bouygues Telecom (33) 41 +74m Q4 2016 enabled TF1 to deliver good o/w TF1 15 36 +21m performance in Q1 2017 o/w Construction activities (116) (134) -18m Like every year, Q1 results for the � construction businesses are not indicative of full-year performance , mainly due to Colas’ seasonality 6
CONTENTS � HIGHLIGHTS AND KEY FIGURES � REVIEW OF OPERATIONS � FINANCIAL STATEMENTS � OUTLOOK � ANNEX 7
CONSTRUCTION BUSINESSES EXTENSION OF IQALUIT AIRPORT - CANADA Widening of RD 177 in Ille-et-Vilaine Carré Mosaïk - Montpellier Zagreb Airport - Croatia 8
CONSTRUCTION BUSINESSES BACKLOG AT A RECORD LEVEL Backlog (€m) +4% a €31.0bn RECORD BACKLOG OF €31bn €30.1bn €29.9bn � €28.8bn 2,972 AT END-MARCH 2017, UP 4% YEAR-ON-YEAR 2,421 2,601 +14% 2,485 7,769 +1% 7,849 7,723 8,064 STRONG INTERNATIONAL PRESENCE � 57% of the backlog at Bouygues Construction � and Colas in international markets +3% 20,213 19,830 19,539 18,243 International backlog of €16.1bn , � up 2% year-on-year (up 3% at constant exchange rates) End-March End-March End-March End-March 2014 2015 2016 2017 Bouygues Construction Colas Bouygues Immobilier (a) Up 4% at constant exchange rates 9
FRENCH CONSTRUCTION SECTOR IMPROVING Backlog in France (€m) BACKLOG UP 6% YEAR-ON-YEAR � +6% €15.4bn 5 th quarter of growth in residential property €14.9bn � €14.2bn €14.1bn reservations at Bouygues Immobilier 2,381 2,796 +14% 2,314 2,448 > +30% a in Q1 2017 vs Q1 2016 3,615 3,298 3,262 3,037 +9% Level of order intake maintained � at Bouygues Construction > 2 significant Grand Paris contracts won 9,417 8,792 8,589 8,585 +2% (extension of RER Eole and lot T2A of metro line 15 south for a total of €696m) Increase in the backlog at Colas � End-March End-March End-March End-March 2014 2015 2016 2017 > +9% at end-March 2017 year-on-year Bouygues Construction Colas Bouygues Immobilier (a) Reservations in €m 10
GRAND PARIS: CONTRACTS WON Extension of metro line 14 Tramway T4 � Excavation of a 2.2-km tunnel and � Laying of railway track and road construction of 4 stations works � Duration of the work: 2015-2018 � Duration of the work: 2016-2019 � Contract amount: €128m � Contract amount: €49m Metro line 15 South Development – Bagneux station � Excavation of a 6.6-km tunnel and � Development of an eco- construction of 4 stations neighborhood around the future Bagneux metro line 15 station � Duration of the work: 2018-2022 � � Duration of the work: 2020-2022 Contract amount: €534m � Contract amount: €80m Extension of RER Eole Fort d’Issy – Vanves – Clamart station � Excavation of a 6.1-km tunnel � Construction of a station for metro between Saint-Lazare and La line 15 Défense and construction of a � Duration of the work: 2016-2018 station at Porte Maillot � Contract amount: €46m � Duration of the work: 2017-2021 � Contract amount: €197m 11
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CONTINUED GROWTH IN MOBILE 13.4M MOBILE CUSTOMERS AT END-MARCH 2017 � +364,000 customers in Q1 2017 � Of which +130,000 were mobile plan customers � Plan net adds excluding MtoM a excluding M2M a ('000 of customers) 228 171 151 147 149 146 130 129 101 73 25 22 -4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 14 14 14 14 15 15 15 15 16 16 16 16 17 (a) Machine-to-Machine 13
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