Bouygues hit by £437m covid-19 construction loss
Bouygues Group’s construction business has reported an operating loss of €437m (£392m) for the first half of 2020, compared to a £72m profit for the corresponding period a year ago.
Construction turnover fell by €2.6bn (£2.3bn), accounting for almost all of the group’s revenue slump of €2.7bn (£2.4bn).
Bouygues said this was “entirely attributable to covid 19”.
But the French contractor said that its construction order book reached €35.7bn (£31.9bn) at the end of June, 6% up year-on-year and a record level for the firm.
This figure includes a €1.1bn (£983m) contract to build part of HS2, which was awarded in Q2 2020.
Bouygues said that its activity had returned to “close-to-pre-crisis level” in France, the UK, and several other territories after almost all work stopped in March.
Overall the group posted a €176m (£157m) operating loss on turnover of £17.4bn (£15.6bn), with better performances elsewhere in the group partly offsetting the construction deficit.