Bouygues SA (BOUYY) Q1 2026 Earnings Name Transcript

Operator

Howdy, and welcome to the Group Bouygues Q1 2026 Outcomes Name. [Operator Instructions]

Now I’ll hand the convention over to Frederique Delavaud, Head of Investor Relations. Please go forward.

Frederique Delavaud

Thanks very a lot. Good morning, everybody, and thanks for becoming a member of us for the presentation of Bouygues’ First Quarter 2026 outcomes. This presentation will likely be led by Stephane Stoll, Senior Vice President and CFO of Bouygues Group. Stephane Stoll is accompanied by Christian Lecoq, CFO of Bouygues Telecom. Following their presentation, they are going to be answering your questions.

Stephane, I will now provide the flooring.

Stéphane Stoll
Senior VP & CFO

Thanks, Frederique. Good morning, everybody, and thanks for attending. Earlier than listening our highlights, I want to level out that, clearly, the worldwide macroeconomic and geopolitical atmosphere has remained in the course of the first quarter, very unsure and really unstable. And as all the time, Q1 ends in our group usually are not indicative of first half of the 12 months and monetary 12 months outcomes attributable to typical seasonality, particularly at Colas. That being mentioned, I am happy to say that Q1 group outcomes have been fairly stable. Subsequently, we’re able to verify the group outlook for 2026.

Coming into particulars, group gross sales have been down 3.2% year-on-year. Half of the lower being attributed