Kaufman & Broad : Q1 results down but operational profitability remains relatively high
>Q1 results down as expected: underlying operating profit € 16.7m vs € 19.2m estimated - For Q1 Kaufman and Broad has published a decline in its results. We note: 1/ Sales of € 228m down 61% (vs our forecast of € 274.2m). This trend, whilst more pronounced than we had expected, makes sense due to a very unfavourable comparison base in the commercial property segment (sales: € 27.2m vs € 353.9m in Q1 2023) linked to the Austerlitz project. For home sales, the decline w...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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