France · Delayed Price · Currency is EUR Nexity Earnings Call Transcripts
Fiscal Year 2026
-
Nine-month revenue fell 17% and reservations declined 17% as the housing market weakened. 2026 guidance remains confirmed, with a longer low cycle and recovery not expected before 2029–30.
-
Current operating profit doubled year-over-year despite an 18% revenue decline, driven by margin rebuilding, cost savings, and resilient segment performance. Guidance for 2026 is reaffirmed, with a strong backlog and development pipeline supporting future growth.
-
Q1 2026 saw revenue decline 13% year-over-year amid a persistently weak real estate market, but operational discipline, high pre-selling rates, and a robust pipeline support stable outlook and profitability targets. Leverage reduction and energy-efficient projects remain priorities.
Fiscal Year 2025
-
Delivered strong deleveraging, returning to positive operating profit and cash flow despite a challenging market. Revenue declined, but market share and profitability improved, with further margin and leverage improvements targeted by 2027.
-
H1 2025 saw a return to profitability with EUR 6 million operating income, strong growth in service properties, and a record share of first-time buyers. Revenue declined 12% year-over-year, but financial structure is secured through 2028 and deleveraging continues.
-
Revenue fell 9% year-over-year to €590 million, mainly due to weak commercial real estate, while residential revenue rose 4%. Guidance for the year is confirmed, with a focus on operational efficiency, new market segments, and maintaining net debt below €380 million.
Fiscal Year 2024
-
2024 saw a successful transformation with major debt reduction, cost savings, and a return to positive operating profit, despite lower revenue. Retail sales rebounded, and the company is positioned for gradual recovery, with a focus on profitability and balance sheet strength in 2025.
-
Q3 2024 saw strong retail sales growth and major project deliveries, despite a 12% drop in overall property signups. Transformation and cost reduction plans are on track, with improved profitability and lower debt expected in 2025.
-
Despite a challenging property market, the group delivered positive operating profit and reduced net debt by 31% in H1 2024, supported by asset disposals and cost-cutting. Outlook for 2024 remains unchanged, with further deleveraging and improved profitability expected in 2025.