Bouygues

EN: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Bouygues Earnings: Improved Visibility in the Construction Business; Maintain Our Fair Value

Javier Correonero

Nov 5, 2024

No-moat Bouygues reported group-level third-quarter sales of EUR 15.0 billion, up 1% year on year and ahead of company-compiled consensus. The solid backlog in the construction business provides management with enhanced visibility on future activity; they confirmed full-year guidance for improved sales and current operating profit from activities. With no changes to our estimates, we confirm our fair value estimate of EUR 35.

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Bouygues

Bouygues Earnings: Improved Visibility in the Construction Business; Maintain Our Fair Value

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