(Boursier.com) — Kaufman & Broad SA today announces its results for the first 9 months of the 2023 financial year (from December 1, 2022 to August 31, 2023). Nordine Hachemi, Chairman and CEO of Kaufman & Broad, declared in particular: The commercial and financial results for the 3rd quarter of 2023 are a continuation of those of the 1st half…
Housing reservations in volume are down 12.6% over the first 9 months of the financial year, compared to an estimated decline to date of around 35.1% over the same period for the entire period. walk.
In this context, Kaufman & Broad continued to apply a rigorous strategy of adjustment to market conditions, consisting in particular of:
– favor block sales to institutional investors,
– maintain a very high level of requirements in terms of pre-marketing rates.
Furthermore, the group still relies on a solid land reserve and a global backlog of 2.7 billion euros representing approximately two years of activity.
Work on the A7/A8 Austerlitz operation continues to proceed according to schedule.
The financial structure remains very solid, as evidenced by Fitch’s confirmation of Kaufman & Broad SA’s Investment Grade rating. The group’s net cash position stood at €201.2 million as of August 31, 2023.
Kaufman & Broad relies on its ability to adapt its offering to new market conditions, on the high level of its Backlog and its land portfolio as well as its balance sheet strength to seize opportunities and, beyond that, take full advantage recovery in a healthy market.
The group confirms its outlook for the entire 2023 financial year:
– the group’s share of net income should increase by around 20%,
– the current operating profit rate should be around 8%,
– turnover should grow by 6 to 10%,
– moreover, positive net cash flow should be at a level higher than that of 50 million euros mentioned last July.
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