(AOF) – Nexity reported 9-month turnover of 2.958 billion euros, almost stable over one year (2.954 billion euros). It increased by 1% to 2.33 billion euros in promotion thanks to corporate real estate (+ 45%), to 362 million euros. However, it fell by 5% to 1.97 billion euros in residential real estate. It fell by 2% in services to 624 million euros.
On the commercial front, the group posted 9,213 reservations at the end of September 2023 in residential real estate, down 20% compared to the end of September 2022 in a market down 31% in the first half, for an amount of 1.865 billion euros (-27%). In corporate real estate development, Nexity recorded 32 million euros in order intake at the end of September 2023.
“We are experiencing an unprecedented and lasting crisis, and the teams are mobilized to enable us to face it: strengthening operational efficiency, rigorous management of working capital requirements and debt, work on the cost price of our operations, and adaptation of the strategic roadmap to new market conditions,” commented the President and CEO, Véronique Bédague.
Before adding: “We have initiated a process of searching for strategic and financial partners in our management and distribution businesses, in order to enable the development of these activities and accelerate the pivot of our model towards urban regeneration and new uses.
The largest French real estate developer confirmed its 2023 targets, lowered at the end of July, “subject to changes in the market environment”. Nexity anticipates revenues of 4.3 billion euros (excluding international) and operating income of 250 million euros.
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