PARIS (dpa-AFX) - Bouygues (BOUYY.PK) reported that its net profit attributable to the Group for fiscal year 2016 increased to 732 million euros, from 403 million euros in the previous year. The latest result included the sale of stakes in the highway concession companies Adelac (A41highway) and Atlandes (A63highway). The Group saw sharp growth in its full-year results, driven by Bouygues Telecom and the construction businesses.
Restated for exceptional items, non-current charges and disposals, net profit attributable to the Group was up 29% at 632 million euros.
Current operating profit was 19% higher than in 2015 at 1.1 billion euros, with sales down 2% (stable like-for-like and at constant exchange rates) Bouygues expects to continue to improve its profitability in 2017, driven by all the business segments.
Bouygues Telecom confirmed its 25% EBITDA margin target for 2017 and set a new free cash flow a target of 300 million euros in three years' time.
The Board of Directors will ask at the Annual General Meeting on 27 April 2017 to approve a dividend payment of 1.60 euros per share, the same amount as in 2015. The ex -date, record date and payment date have been set at 3, 4and 5 May 2017respectively.
The Board of Directors will ask at the Annual General Meeting on 27 April 2017 to renew the term of office of Helman Le Pas de Sécheval as a director and to appoint Alexandre de Rothschild as a director. In order to increase the proportion of independent directors on the Board, the term of office of Hervé Le Bouc will not be renewed and François Bertière has relinquished his directorship to the Board.
Copyright RTT News/dpa-AFX