Equans, a major strategic acquisition of Bouygues, AG . Help and Reports

Attending the Bouygues shareholder meeting is worth it! After 36 minutes by RER C, from the Champs de Mars to Saint-Quentin-en-Yvelines, then two successive shuttles chartered by the construction and telecommunications group, we finally arrive at Challenger, the castle-like main office, with ponds and statues.

In the signing office, 291 authorizations are waiting for us, from readersinvestment Unable to make the trip, for a total of 63,981 shares.

Over coffee, the shareholders present can speak with the chairman, Martin Puig, who arrived early. We asked him why we keep taking seizure pills every year. We answered in substance If takeovers are part of the normal game of capitalism, they are brutal and such protections are permitted by law “Yes, he did not forget about Vincent Polloré’s raid.” I have fought all my life for the sustainability of the company, not just for the sake of me and my family, but for the sake of the employees and all of our stakeholders. “.

We are now in the room where Martin Puig opened the session. The cashiers are Olivier Puig, brother of Martin (the Puig family, 24.4% of the share capital and 29.5% of the voting rights) and representative of the employee stockholders (20.6% and 28.9%).

Martin Puig says that the group ” No activity in Russia and Ukraine ‘, but remains cautious about the consequences for raw material prices and supply chains. The president says so The war in Ukraine is a terrible human tragedy “weather” Many solidarity reactions from group companies in Poland and other neighboring countries “.

Acquisition of Equins

Speech to Director General Olivier Rosat. He explains the interest in acquiring Engie’s Equans, which is due to be completed next summer. With Bouygues’ Energy and Services division, the new group will be the world’s second largest multi-tech services company. volume effect will improve margins This activity Requires little 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 is shown about the extension of the port of Monaco. This project made it possible to gain 60 thousand square meters of sea and required the removal of marine species.

Olivier Rosat returns to the Energy and Services division (revenues of €3.9 billion). The investments there are less than 1% of the turnover of the business and the activity is very flexible with many small contracts. He says he is confident of the target of more than 5% operating margin over the medium term. It rose to 2.8% in 2021.

The leader is now talking about communications. In the fixed sector, it is no longer a question of selling ADSL but of fibre. Of the 4.4 million subscribers, 52% have subscribed to the fiber optic (FTTH) offering compared to 38% in 2020. In mobile, Bouygues now has 14.8 million packages, following the acquisition of CIC Télécoms.

Reduce your carbon footprint

The CEO also states that to reduce the group’s carbon footprint, investments of €2.2 billion are planned during 2022-2024. At Colas, for example, there are plans to electrify all employee cars, use biofuels for machines and recycle materials. At Bouygues Construction, the WeWood timber sector was created. The group’s goal is to reduce carbon emissions by 30% by 2030.

Chief Financial Officer Pascal Grange notes that net debt has fallen from 1,981 million euros at the end of 2020 to 941 million, or 7% of equity. This is explained in particular by the sale of Alstom shares for 984 million shares.

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The fee is detailed in the video. For 2022, a fixed amount of 1.5 million euros is proposed to Olivier Rosat and a maximum bonus of 180%. Performance stakes will be set at 100% of fixed and variable compensation. In addition, a specific plan was planned due to the strategic acquisition of Equans, with the gradual allocation of 200,000 shares over eight years.

We come to the questions.

A contributor says that at the AG of Bolloré, he is offered bottles of wine. Martin Puig replies that with his brother Olivier they were able to sell their wine very well without having to sell it within the collection.

Question about the significance of the acquisition of Equans. This is a turnover of 12 billion and brings the multi-tech division to 16 billion. This will be the group’s first business and will employ half of the workforce, 100,000 people out of 200,000.

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

We go to vote.

The dividend was voted on at 99.94%. The anti-acquisition scale got 76.12%.


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