(BFM Bourse) – The first integrated French real estate group Nexity announced its new strategic plan “Imagine 2026” during which it confirmed its financial objectives for the current year. But fears about the company’s level of indebtedness send the stock back to 10-year lows.
The real estate developer Nexity has unveiled its new strategic plan “Imagine 2026.” which will confirm the acceleration of the group’s development in managed real estate (student residences, shared work spaces or shared housing, etc.).
At the same time, it confirms its outlook for the current financial year. The first integrated French real estate group Nexity is still counting on a turnover of more than 4.6 billion euros and an operating margin level of around 8% in 2022. The company intends to increase its invoicing to more than 6 billion euros and its current operating profit more than 500 million euros.
Nexity also confirms its market share target for new residential real estate of more than 14% in 2022, in an expected market of 130,000 units. By 2030, Nexity intends to increase this market share to more than 20%. “This ambition is based on a hypothesis of stability of the new housing market, in line with the history of the last 10 years”, wishes to specify the real estate developer. The company intends to pay its shareholders a dividend greater than or equal to 2.50 euros per share each year from 2022 to 2026.
However, the action Nexity accuses the largest decline of the SRD Wednesday. The title is still up 15% less than an hour from the close to evolve on levels more observed for 10 years. Nexity’s level of indebtedness still leaves observers skeptical, particularly in a context of a sharp rise in interest rates. For Oddo BHF, “the level of indebtedness of the company will still be relatively high” eclipsing in passing the objectives deemed “reassuring” by the design office.
Nexity expects net financial debt before lease liabilities to be less than 2.5 times gross operating surplus (Ebitda) after rents over the 2022-2025 period. The ratio was 2.3 times Ebitda in the first half of last year, a level considered by Nexity to be the “high point of annual indebtedness.”
Sabrina Sadgui – ©2022 BFM Bourse
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