Bouygues raises 2026 ROCA forecast following strong nine-month results

The Bouygues Group has raised its forecast for current operating profit (ROCA) for 2026, reporting nine-month results that exceeded analyst expectations. The group aims for a slight increase in ROCA this year compared to 2025, moving away from its previous guidance of stability at historically high levels.

Growth in ROCA from Equans and Bouygues Construction is expected to offset anticipated declines in other sectors. Specifically, the group expects lower ROCA from TF1 due to linear advertising market tensions, from Bouygues Telecom due to rising depreciation, and from Bouygues Immobilier due to real estate market pressures.

Bouygues Telecom reported record recruitment levels for the third quarter, a performance not seen in several years. The fixed-line division added 103,000 new subscribers between July and September, while the mobile division added 187,000 new customers. Despite these gains, average revenue per user decreased in both segments due to new offer pricing and customer acquisition costs.

The group reported a net profit of 306 million euros for the period from January to September 2026, compared to 675 million euros during the same period the previous year.