– Residential: 12,774 net new home and subdivision reservations amounting to €2,137 million incl. VAT, of which 10,191 net new home reservations in France (-11%), for a market share of over 12.5%, up more than 1.5 points on the year
– Commercial: order intake of €176 million excl. VAT
– Backlog above €3 billion at end-December, including €2.7 billion for Residential real estate (up 3.7% from year-end 2011), equivalent to 16 months’ revenue from development activities1
Current financial performance outstrips targets
– Revenue up 8.8% year-on-year to €2,831 million
– Current operating profit (excluding expenses related to the Nexity Demain project2): €215 million, corresponding to a Group margin of 7.6%. Including these expenses, current operating profit came to €200 million
– Group share of net profit of €116 million excluding non-recurring items (goodwill impairment losses of €55 million and non-recurring tax expenses of €19 million)
– Consolidated net cash position of €332 million and undrawn corporate credit facilities of €470 million at 31 December 2012
– Long-term financing restructured in January 2013, thanks to a €200 million bond issue (maturity in December 2018). Subsequent termination ahead of schedule of the €185 million corporate credit line, which was available until December 2014
Outlook for 2013
– Residential: market share to hold steady in an expected market of between 70,000 and 75,000 new homes
– Commercial: order intake target of €350 million
– Consolidated revenue for 2013 expected to exceed €2.6 billion
– Current operating profit for 2013 targeted at over €180 million
– Proposal to distribute a dividend of €2 per share in respect of 2012. Based on this outlook, the company will consider proposing to its shareholders the renewal of a €2 per share dividend next year.
1 Revenue basis – previous 12-month period
2 €15 million in 2012
Source: Company