H1 2013 BUSINESS ACTIVITY AND RESULTS
Paris La Défense, Wednesday, 24 July 2013

Limited decline in volume of new home reservations in France to 4,441 units (-4%), slight increase in value (+4%). Annual order intake target for commercial real estate already secured

  • Backlog at end June: ?3.2 billion (+2% from year-end 2012), including ?2.8 billion in residential real estate (+4%), equivalent to 16 months' revenue from development activities*

Financial position in line with expectations

  • Half-year revenue of ?1.3 billion, up 5.5% compared to H1 2012
  • Operating profit: ?85.3 million (versus ?81.5 million in H1 2012), yielding a stable Group margin of 6.7%
  • Consolidated net cash position of ?182 million, ?285 million in undrawn corporate credit lines

Outlook for 2013 confirmed

  • Residential: around 9,000 net new home reservations in an expected market of between 70,000 and 75,000 units
  • Commercial: order intake target of ?350 million
  • Consolidated revenue for 2013 expected to exceed ?2.6 billion
  • Current operating profit targeted for 2013 at over ?180 million
  • Based on its outlook, the Company will consider proposing to its shareholders the renewal of a ?2 per share dividend in 2014

*Revenue basis - previous 12-month period

H1 2013 Business Activity and results:
http://hugin.info/143515/R/1718551/571710.pdf


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