Nexity, France’s leading real estate developer, has achieved its financial objectives in 2022 and anticipates a drop in its turnover in 2023 in an unfavorable context for new real estate.
Turnover stood at 4.7 billion euros last year, above the target of 4.6 billion that the group had set at the start of 2022.
It is down 2.7% compared to 2021, the year in which Nexity separated from the network of real estate agencies Century 21 and the specialist in senior residences Aegide-Domitys. Excluding these two former subsidiaries, turnover increased by 1.7%. Nexity will offer its shareholders a dividend of 2.50 euros, like the previous year.
In the promotion of new housing, its historic core business, it obtained 18,015 reservations, 10% less, but its market share rose to 15%, better than expected, in a general context of very pronounced decline in sales.
2023, a year of transition
The turnover of this branch increased by 3%, 3.39 billion euros. Our resilience is unique in a market (…) in sharp decline in 2022, declared to the press the CEO Vronique Bédague, who took over alone at the head of the group on January 1 after a year and a half at the helm as general manager. .
For 2023, Nexity expects revenue of at least 4.5 billion euros. A decrease due to its refocusing on France, with the planned sale of its activities in Poland and Portugal. Clearly, 2023 will be a year of transition, with I think a further decline in the new housing market, said Vronique Bdague.
The group anticipates a temporary erosion of its margins, caught between the rise in construction costs and the reduction in the purchasing power of buyers, due to the sharp rise in interest rates.
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It will continue its strategy of developing managed real estate (student residences, coworking, etc.), which has enabled its services branch to post a turnover up 10%, to 938 million euros.
We see, among our buyers, whether institutional buyers or individuals, that there is an appetite, more and more, for everything that is managed, explained Vronique Bdague.
The third branch of the group, the real estate development of offices, suffered, with a turnover falling by 23% to 380 million euros, demand still not having recovered from the consequences of the Covid-19 pandemic. .