H1 2013 BUSINESS ACTIVITY AND RESULTS | |
Paris La Défense, Wednesday, 24 July 2013 | |
Limited decline in volume of new home reservations in France to 4,441 units (-4%), slight increase in value (+4%). Annual order intake target for commercial real estate already secured
- Backlog at end June: ?3.2 billion (+2% from year-end 2012), including ?2.8 billion in residential real estate (+4%), equivalent to 16 months' revenue from development activities*
Financial position in line with expectations
- Half-year revenue of ?1.3 billion, up 5.5% compared to H1 2012
- Operating profit: ?85.3 million (versus ?81.5 million in H1 2012), yielding a stable Group margin of 6.7%
- Consolidated net cash position of ?182 million, ?285 million in undrawn corporate credit lines
Outlook for 2013 confirmed
- Residential: around 9,000 net new home reservations in an expected market of between 70,000 and 75,000 units
- Commercial: order intake target of ?350 million
- Consolidated revenue for 2013 expected to exceed ?2.6 billion
- Current operating profit targeted for 2013 at over ?180 million
- Based on its outlook, the Company will consider proposing to its shareholders the renewal of a ?2 per share dividend in 2014
*Revenue basis - previous 12-month period
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Source: Nexity via Thomson Reuters ONE