The Action Logement group, France’s leading social landlord, announced on Friday that it had suffered a net loss of 1.37 billion euros in 2021, the product of its massive investment plan.
The former 1% Logement, piloted by employers and trade unions and financed by a levy on companies (PEEC), has increased its activity in all directions: production and renovation of housing, aid for professional mobility, Visale rental guarantee… In total , he invested some 12.5 billion euros.
An institution like Action Logement is not there to achieve results, it is there to deploy its social utility in all territories, justified the group’s president, Bruno Arcadipane. Since 2019, the group, sitting on several billion euros in cash, has embarked, under pressure from the State, on a colossal voluntary investment plan (PIV).
Accelerate the pace of construction in 2022
Last year, it obtained more than 48,000 permits to build social and intermediate housing, a record, and more than a third of the national total. Its leaders want to further accelerate the pace of construction in 2022, despite economic difficulties: inflation, shortage of materials, effects of the war in Ukraine, etc.
We are the leading donor in France and it is impossible for us not to have extremely strong ambitions, declared Bruno Arcadipane.
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Visale Guarantee: 230,000 beneficiaries
The number of beneficiaries of the Visale guarantee, intended for people under 30 and extended to all employees earning less than 1,500 euros net per month, amounted to 230,000, with a target of 330,000 for 2022 and 500,000 in the long term.
In 2022, the last year of its investment plan, the group should remain in the red, to return to breakeven in 2023. The major challenges for the future, for us, after the period of very strong mobilization of PIV reserves which continues in 2022, will be to find from 2023 a balance between our resources and our expenses, affirmed the director general Nadia Bouyer.
A recurring subject of disputes with the State over its financing, Action Logement was deducted in 2021 from one billion euros for the benefit of the National Fund for Housing Assistance, in addition to its participation in urban renewal or the program City Cur Action. Receipts fell by 300 million euros, the State having given up paying compensation for the exemption from the PEEC for companies with 20 to 50 employees.
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