Bouygues Telecom raises 2015 profit outlook
27 August 2015 |
Bouygues has raised its profit targets for its telecoms unit following the group’s 51% increase in its H1 operating profit.
Bouygues Telecom’s operating profit amounted to €119 million, €40 million more than the same period last year while its EBITDA rose to approximately €750 million this year from €694 million.
The group had previously expected its EBITDA to remain stable at 2014 levels.
“Thanks to a good commercial performance and tight control of marketing and operating costs, the outlook for Bouygues Telecom has been revised upwards,” said the operator.
The company added that its target of €300 million of savings in 2016 versus 2013 will be significantly outstripped.
Bouygues Telecom has faced strong competition in recent years after the entry of Free in 2012 kicked off a price war in France’s mobile market.
In June 2015, Bouygues turned down an €10 billion offer from billionaire Patrick Drahi’s Altice to acquire the telecoms group.
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