Equans, the main strategic acquisition for Bouygues, AG’s instructions and reports

It is worth visiting the Bouygues shareholders’ meeting! After 36 minutes on RER C, from the Fields of Mars to Saint-Quentin-en-Yvelines, and then two consecutive shuttles chartered by a construction and telecommunications group, we finally arrive at Challenger, the main office that looks like a castle. , with ponds and statues.

291 seats from readers are waiting for us at the signing deskInvest unable to travel, a total of 63,981 shares.

While drinking coffee, the shareholders present could talk to the chairman, Martin Buig, who arrived earlier. We asked him why we continue to take antidote every year. He told us in essence that ” if takeovers are part of the normal game of capitalism, they are cruel, and the law allows such protection “Yes, he did not forget the Vincent Bollore raid.” All my life I have fought for the sustainability of the company not only for myself and my family, but also for employees and all stakeholders. “.

We are now in the room where Martin Buig opens the session. It is estimated that Olivier Buig, Martin’s brother (the Buig family, 24.4% of the capital and 29.5% of the voting rights) and a representative of the shareholders-employees (20.6% and 28.9%).

Martin Buig says the group has ” there are no activities in Russia and Ukraine “, But remains cautious about the implications for commodity prices and supply chains. That’s what the president says the war in Ukraine is a terrible human tragedy “And excites” numerous solidarity reactions from the group’s companies in Poland and other neighboring countries “.

Acquisition of Equans

A word from General Manager Olivier Russ. He explains the interest in acquiring Equans from Engie, which is due to be completed next summer. Thanks to Bouygues Energy and Services, the new group will become the second largest company in the world to provide multi-technical services. Size effect improve margin “and this activity” requires small investment The CEO also aims to complete the TF1 / M6 merger by the end of the year, which will accelerate the development of a national video streaming platform.

A film about the expansion of the port of Monaco is shown. This project allowed to obtain 60,000 square meters of sea and required the displacement of marine species.

Olivier Rousseau returns to the energy and services division (3.9 billion euros in revenue). Investments there are less than 1% of turnover, and activities are very stable with many small contracts. He says he is confident that the target will exceed the 5% operating margin in the medium term. In 2021, it rose to 2.8%.

The leader is now talking about telecommunications. In the fixed line sector, we are no longer talking about selling ADSL, but about fiber. Of the 4.4 million subscribers, 52% subscribed to fiber optics (FTTH) compared to 38% in 2020. In mobile communications, Bouygues now has 14.8 million packages after the acquisition of CIC Télécoms.

Reduce the carbon footprint

The CEO also explains that € 2.2 billion is planned for 2022-2024 to reduce the group’s carbon footprint. Colas, for example, plans to electrify all employees’ vehicles, use biofuels for cars and recycle materials. The WeWood woodworking sector has been created at Bouygues Construction. The group aims to reduce carbon emissions by 30% by 2030.

CFO Pascal Grunge points out that net debt fell from 1981 million euros at the end of 2020 to 941 million, or 7% of capital. This is due in particular to the sale of Alstom shares for 984 million.

Free promotions

Remuneration is described in detail in the video. For 2022, Olivier Russ is offered a fixed fixed amount of 1.5 million euros and a maximum bonus of 180%. The share of productivity will be limited to 100% of the fixed and variable compensation. In addition, a special plan is planned for the strategic acquisition of Equans with a gradual distribution of 200,000 shares over eight years.

Let’s approach the questions.

The shareholder says that AG Bolloré offers him bottles of wine. Martin Buig replies that he and his brother Olivier manage to sell their wines very well without having to sell them within the group.

The question of the importance of acquiring Equans. This is 12 billion revolutions, which brings the multi-technical unit to 16 billion. This will be the first business of the group, and it will employ half the workforce, 100,000 people out of 200,000.

Question about Hinkley Point. This is a new generation of EPR after Fukushima, a huge project. Bouygues is responsible for civil engineering in a 50/50 association with an English company.

Let’s go to the polls.

99.94% voted for dividends. The anti-takeover measure was estimated at 76.12%.