Kaufman & Broad : The 9M results show strong resilience in profitability and pre-sales
>9M results close to forecasts: underlying operating profit € 53.5m vs € 52m estimated - For the first nine months of the year, Kaufman & Broad has published results that came in broadly close to our forecasts. They were characterised by: 1/ a decline in activity by 35.3% to € 701.2m (we had retained € 717.2m), showing a Q3 slightly up by 5.8% (increase related notably to commercial). 2/ Underlying operating profit at € 53.5m with an underlying operating margin of 7.6...Kaufman & Broad SA is a France-based property developer and builder. The Company is principally engaged in the development of single family homes and apartments, commercial real estate activity, as well as the provision of residence services for business tourists and students. The Company is involved in all stages of implementation of a development program, land research to commercialization of housing through project design, the filing of a building permit and after-sales service. The Company has operations in numerous cities in France, such as Bayonne, Bordeaux, Grenoble, Lille, Lyon, Marseille, Montpellier, Nantes, Nice, Paris, Rouen, Strasbourg, Toulon and Toulouse, among others. Furthermore, the Company provides construction of logistics platforms and warehouses. It is also operational through a number of subsidiaries, including Kaufman & Broad Pyrenees-Atlantiques, Kaufman & Broad Homes SAS, SM2I and Residences Bernard Teillaud SARL, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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