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«2009 Annual Results
Current operating profit €206 million, 7.3% current operating margin on €2.8 billion revenue (+6%)
Group share of adjusted1 net profit € 104 million
Net debt reduced by €668 million leading to a €105 million positive net cash position
Good business visibility
Proposed dividend increase to €1.60 per share
- Goodwill impairment (Services & Distribution) and Eurosic impact of €154 million, bringing net accounting result to -€50 million
- Group operating margin 7.3%, including 8.2% for the Residential division (vs. 9.8% in 2008) and 6.6% for property management (vs. 5.0% in 2008)
- Backlog: €2.6 billion, representing 14 months’ development activity2
Outlook for 2010
- Residential: 10% market share based on an expected market of around 90,000 new homes
- Commercial: orders expected to pick up progressively in 2010
- 2010 consolidated revenue expected to be around €2.5bn
- Current operating margin target of 7%
- On the assumption that margins bottom out in 2010, and based on the Group’s good visibility of its business activities and future cash requirements, Nexity plans to propose a dividend payment of €1.60 per share for fiscal year 2010». (Stralcio dal CS della Società)
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