France · Delayed Price · Currency is EUR Kaufman & Broad Earnings Call Transcripts
Fiscal Year 2026
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Revenue and margins remained stable in H1, with strong backlog and liquidity supporting guidance for an 8% EBIT margin for the year. Housing orders held steady despite a weak market, while commercial property offset housing revenue declines. Large new projects and entry into Luxembourg support future growth.
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Q1 2026 saw revenue decline but gross margin and profitability improve, supported by a strong land portfolio and stable backlog. Guidance for the year is confirmed, with robust liquidity and continued selectivity in project launches despite macroeconomic uncertainties.
Fiscal Year 2025
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2025 saw revenue rise 5% to EUR 1,136 million, with strong margins and a robust net cash position. The backlog remains high, and 2026 guidance projects stable turnover and margins, supported by new digital initiatives and urban renewal projects.
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Nine-month results show revenue up 6% to €744.7 million, strong net cash, and no long-term debt. Housing and commercial segments outperformed a declining market, with stable margins and a positive outlook despite political and market uncertainties.
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Q1 revenue grew 9.7% year-over-year, with strong housing and commercial property performance. Guidance for 2024 is reaffirmed, supported by a robust net cash position and expanding managed residences. Supply constraints and regulatory headwinds remain key risks.