Nexity raises its guidance
| NEXITY RAISES ITS GUIDANCE |
| Paris, 4 January 2021, 5:45 p.m. CET |
Nexity performed better than expected under the second lockdown, and its business activity was less affected during Q4 2020 than expected. In particular, signed notarial deeds of sale and progress on construction sites stayed at satisfactory levels. In Commercial Real Estate, business was boosted by the marketing of major programmes, including Reiwa in Saint-Ouen (Seine-Saint-Denis), the eco-business park in La Garenne-Colombes (Hauts-de-Seine), and Network II in Bagneux (Hauts-de-Seine).
Based on these elements, the Group has raised the guidance announced on 28 October when it reported its business activity and revenue for the first nine months of 2020:
- New home reservations for 2020 is to be equivalent to that of 2019 and above the estimated 20,000 units anticipated, supporting a strong increase in its market share.
- Order intake for Commercial Real Estate reaching a record high in 2020, totalling €1.5 billion.
- Nexity is now aiming for revenue of around €4.7 billion in 2020 (instead of at least €4.2 billion), with a current operating margin of more than 5% (instead of around 5%) and for 2021, on a like-for-like basis, revenue of around €4.7 billion with a current operating margin above 7%.
- Net financial debt (before lease liabilities) less than €800 million at 31 December 2020 (instead of less than €1.2 billion).
- Development pipeline (backlog + land under options) of around €20 billion at year-end 2020.
FINANCIAL CALENDAR
| 2020 annual results (after market close) | Wednesday, 24 February 2021 |
| Q1 2021 revenue and business activity (after market close) | Wednesday, 28 April 2021 |
| 2021 Shareholders’ Meeting | Wednesday, 19 May 2021 |
| 2021 interim results (after market close) | Wednesday, 28 July 2021 |
Disclaimer
The information, assumptions and estimates that the Company could reasonably use to determine its targets are subject to change or modification, notably due to economic, financial and competitive uncertainties. Furthermore, it is possible that some of the risks described in Section 2 of the Universal Registration Document filed with the AMF under number D.20-0280 on 9 April 2020, as revised by an amendment filed with the AMF on 28 April 2020, could have an impact on the Group’s operations and the Company’s ability to achieve its targets. Accordingly, the Company cannot give any assurance as to whether it will achieve its stated targets, and makes no commitment or undertaking to update or otherwise revise this information.
AT NEXITY, WE AIM TO SERVE ALL OUR CLIENTS AS THEIR REAL ESTATE NEEDS EVOLVE
With more than 11,000 employees and €4.5 billion in revenue, Nexity is France’s leading integrated real estate group, with a nationwide presence and business operations in all areas of real estate development and services for individuals, companies and local authorities.
Our services platform is designed to serve all our clients as their real estate needs evolve.
Firmly committed to focusing on people and how they are connected with each other, their cities and the environment, Nexity was ranked the number-one low-carbon real estate developer in France by BBCA in 2019, is a member of the Bloomberg Gender-Equality Index (GEI) and obtained Great Place to Work certification in 2020.
Nexity is listed on the SRD, Euronext’s Compartment A and the SBF 120.
CONTACTS
Domitille Vielle – Head of Investor Relations / +33 (0)1 85 55 19 34 –
Géraldine Bop – Deputy Head of Investor Relations / +33 (0)1 85 55 18 43 –
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