Nexity : H1 2020 results logically down but a healthy commercial activity with stable reservations. Target price € 36 vs € 40. Buy recommendation reiterated.
>Interim results ahead of expectations - Nexity reported a very good H1 earnings resilience. The key figures are as follows: 1/ sales down 7% to € 1,716m while we were expecting € 1,390m. For Q2 alone, sales reflected a limited decline of 3.1% to € 929.3m, which is explained by the strong contribution from commercial real estate (€ 247.6m sales in Q2 vs € 88m in Q2 2019) due to the sale of a building in Saint-Ouen for more than € 200m. For the residential real estate...Nexity in an integrated real estate group based in France. Co. operates in all areas of real estate development and services (residential real estate, commercial real estate, real estate services to individuals and real estate services to companies, distribution networks and client relations, major urban projects). Co. maintains a market presence across all industry cycles (short, medium and long). Co. serves three types of clients: individuals, companies and investors, and local authorities. Co.'s activities are conducted around four primary divisions: Residential real estate, Commercial real estate, Services and Distribution Networks, and Other activities.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.