PARIS (Agefi-Dow Jones)–The real estate developer Nexity indicated on Wednesday that it expects continued growth in 2022 and is aiming for current operating profit (COI) of “at least” 380 million euros as well as maintaining a margin level of around 8%.
Nexity made this announcement as its ROC increased by 32%, to 371 million euros, in 2021, generating a margin rate of 8% compared to 6.3% in 2020. The level of ROC constitutes a “highest historic,” the group said in a statement.
Its net profit was €325 million, which is also a record, compared to €113 million in 2020.
Turnover amounted to 4.6 billion euros, up 5% compared to 2020, while the services activity recorded growth of 11%.
Analysts polled by FactSet were expecting an average turnover of 4.54 billion euros and a net profit of 350 million euros.
The group intends to propose the payment of a dividend of 2.5 euros per share for the 2021 financial year, up 25%.
“Nexity anticipates a slight increase in the market in 2022 (around 150,000 lots), in a context of supply that is still insufficient but recovering, and with demand that should remain sustained”, indicated the group.
“Nexity is aiming for a market share of over 14%, with a maintained balance between sales to individuals and institutions, taking advantage of the acceleration of its development in the renovation of city centers and in the transformation of offices into housing”, said added the property developer.
“In a context of rising construction costs, the group remains confident in its ability to maintain its level of operating margin,” he said.
-Eric Chalmet, Agefi-Dow Jones; 01 41 27 47 95; [email protected] ed: FXS
NEXITY FINANCIAL RELEASES:
http://www.nexity.fr/immobilier/groupe/finance/communiques-financiers
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
February 23, 2022 12:32 ET (17:32 GMT)