Slide 1: Full-year results for 2024
Full-year results for 2024 Lyon Confluence – Lyon (Rhône)
Slide 2: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained
Slide 3: Agenda
01 01. Key developments in 2024 02. Business activity in 2024 03. Financial and non-financial results for 2024 04. Outlook Bordeaux Belvédère – Bordeaux (Gironde) 3 Full-year results for 2024
Slide 4: Key developments in 2024
01. Key developments in 2024 Chambourcy (Yvelines) 4 Full-year results for 2024
Slide 5: Key points
01. Key developments in 2024 Key points Transformation plan Implementing the “4 Rs” on schedule: 1 finalised at year-end 2024 Refocusing, Resizing, Recalibrating and Redeploying • Full-year retail reservations: Up 7% (vs market down 4%)(1) Confirmed recovery 2 in retail sales in 2024 • Sharp acceler
Slide 6: 2024 marked by ongoing proactive implementation of the transformation plan focused on our "4 Rs"
01. Key developments in 2024 2024 marked by ongoing proactive implementation of the transformation plan focused on our “4 Rs” 2024 2025 Refocusing • Execution of the disposal plan:(1) 3 major disposals • Continued close control of the balance sheet Ongoing allocated to deleveraging (net impact: €435
Slide 7: Encouraging market signals
01. Key developments in 2024 Encouraging market signals 3 key indicators on track Interest rates heading back 5 ECB rate cuts since 01/01/2024: Average mortgage rate:(2) Purchasing power down Down 125 bps to 2.75%(1) Down ~100 bp to 3.24% recovered : Up ~10% Rebound in mortgage Up 26% (3) Spurred by
Slide 8: Supportive fundamentals: Structural supply shortage
01. Key developments in 2024 Supportive fundamentals: Structural supply shortage Declining market Demand steadily increasing Average 2017-2019 2024 Developers (1) ~167,000 ~94,000 Single-family homes (2) ~127,000 ~50,000 Social housing vs ~460,000 (4) ~58,000 ~45,000 Estimated demand for homes opera
Slide 9: Buoyant fundamentals: Strong demand for new homes and higher solvency for homebuyers
01. Key developments in 2024 Buoyant fundamentals: Strong demand for new homes and higher solvency for homebuyers Clear demand for new-builds Improved solvency for homebuyers Design Interest rates coming down Outdoor space Financial arrangements like the PTZ interest-free loan scheme Energy performa
Slide 10: Supply tailored to meeting homebuyer demand
01. Key developments in 2024 Supply tailored to meeting homebuyer demand Supply tailored to customers’ purchasing power: Loan = Rent Créteil (Val-de-Marne) “Fontaine du Mesly” project Montpellier OMANA Projects eligible for the PTZ interest-free loan and reduced VAT rate Estimated(1) monthly loan re
Slide 11: Capacity to combine our multiple fields of expertise to address urban and regional planning priorities
01. Key developments in 2024 Capacity to combine our multiple fields of expertise to address urban and regional planning priorities Belvédère (Bordeaux) Carré Invalides (Paris 7th arr.) Carrefour partnership: Project transforming a brownfield site Restructuring to focus on mixed-use 1st 2 building p
Slide 12: Profitable pipeline, recalibrated to fit new market conditions
01. Key developments in 2024 Profitable pipeline, recalibrated to fit new market conditions Leading indicators – Planning and Development (scope: France) Backlog (1) Business potential(2) Pipeline(3) €4.4bn + €12.2bn €16.6bn ~1.5 years’ activity ~4.1 years’ revenue ~5.6 years’ revenue o/w: 50% secur
Slide 13: Business activity in 2024
02. Business activity in 2024 Sector E, Les Belvédères – Saint-Ouen (Seine-Saint-Denis) 13 Full-year results for 2024
Slide 14: Business activity – Main indicators
02. Business activity in 2024 Business activity – Main indicators • Retail sales: +7% by volume; +5% by value Residential • Bulk sales:-16% by volume, -17% by value Real Estate New home reservations in France(1): -8% by volume; -8% by value • €70m order intake: Upbeat momentum outside Paris region,
Slide 15: Reservations: Trend showing improvement, driven by retail sales
02. Business activity in 2024 Reservations: Trend showing improvement, driven by retail sales Total reservations by volume Total reservations in 2024: 13,387 units (-8%) Change (%)(1) o/w Retail: 5,235 units (+7%) 3M 2024 6M 2024 9M 2024 12M 2024 o/w Social housing operators: Virtually stable (5,748
Slide 16: Significant rebound in retail sales in H2
02. Business activity in 2024 Significant rebound in retail sales in H2 Change in retail reservations(1) in volume terms • Solid momentum in retail sales, in a shrinking market (down 4%(2)), supported mainly by homebuyers (up 21% by volume over the year) Q1 Q2 Q3 Q4 +2.2% +1.2% +11.5% +17.3% • Doubl
Slide 17: Business activity and client mix
02. Business activity in 2024 Business activity and client mix Client mix – 2024 Retail Bulk sales: 39% sales: 61% +6 pts vs 2023 -6 pts vs 2023 • 2024 mix reflecting solid momentum in retail sales, driven in particular by first-time buyers (+27% by volume vs 2023; 14% of the total; +4 pts vs 2023)
Slide 18: Greater control of supply for sale
02. Business activity in 2024 Greater control of supply for sale Absorption 7 6 Breakdown of supply for sale rate (1) 5 by project stage (# of months) • Drop in the absorption rate -44% by close to 2 months vs 2022 Inventory of completed homes to 5.1 months: Marginal (~100 units) > Improvement of sa
Slide 19: Commercial: 175,000 sq.m delivered since the beginning of the year; moving towards more diversification
02. Business activity in 2024 Commercial: 175,000 sq.m delivered since the beginning of the year; moving towards more diversification Proven expertise and 175,000 sq.m capacity to deliver of large-scale large-scale commercial commercial projects projects delivered Lilo, Puteaux Reiwa, Saint-Ouen Gre
Slide 20: Services: Business driven by Serviced Properties
02. Business activity in 2024 Services: Business driven by Serviced Properties Serviced Properties Distribution Property Management Student residences • 134 residences PMI NPM • Occupancy rate(1) high: 97% Specialised in rental Pioneer and leader Property Property • Average prices rising: +2.5% Busi
Slide 21: Financial and non-financial results for 2024
03. Financial and non-financial results for 2024 Saint-Ouen (Seine-Saint-Denis) 21 Full-year results for 2024
Slide 22: Financial performance in line with our expectations
03. Financial and non-financial results for 2024 Financial performance in line with our expectations Revenue: Reflects the slowdown in €3,535m Revenue from Managed Real Estate: +7% business activity from projects underway -12% on a like-for-like basis Operating profit: Affected Including €218m in co
Slide 23: 2024 revenue
03. Financial and non-financial results for 2024 2024 revenue Total revenue: €3,535m (-17%) (in €m) Revenue excl. discontinued operations: €3,426m (-12%) 4 500 -12% 4 000 3,895 (1) Residential Real Estate (75% of revenue): -12% (vs 2023) Revenue reflecting the decline in business activity from proje
Slide 24: Operating profit positive, affected by the transformation plan
03. Financial and non-financial results for 2024 Operating profit positive, affected by the transformation plan Non-recurring items affecting operating profit in 2024 Non- (in millions of euros) Total Recurring recurring Measures to adjust supply: Recalibrating Tangible results Costs of adjustments
Slide 25: Operating profit
03. Financial and non-financial results for 2024 Operating profit (in millions of euros) 2023 2024 Restatement IFRS Planning and Development 184 (91) (10) (101) Residential Real Estate 143 (112) (7) (120) Commercial Real Estate 41 22 (3) 19 Services 44 24 0 24 Serviced Properties 22 27 - 27 Distribu
Slide 26: Working capital requirement well under control
03. Financial and non-financial results for 2024 Working capital requirement well under control (in millions of euros) Dec. 2023 Dec. 2024 Change Planning and Development 1,316 1,058 (258) • WCR for Residential Real Estate Development Residential Real Estate 1,240 1,054 (186) down €186m (vs Dec. 202
Slide 27: Very significant deleveraging in 2024
03. Financial and non-financial results for 2024 Very significant deleveraging in 2024 (in millions of euros) Deleveraging: €369m (44%) (132) 435 (843) (1) 79 (13) (474) 31 Dec. 2023 Operating free Financial expenses Net disposal proceeds Other 31 December 2024 before IFRS 5 cash flow and tax for th
Slide 28: Financial structure at year-end 2024
03. Financial and non-financial results for 2024 Financial structure at year-end 2024 Debt structure Maturity of long-term debt (in millions of euros) Dec. 2023 Dec. 2024 Change • €181m in March Bond issues – Nominal amount • €123m in June Purchase commitments Bond issues and Long-term debt purchase
Slide 29: Climate goals: 2024 performance still on track for decarbonisation of our development activities
03. Financial and non-financial results for 2024 Climate goals: 2024 performance still on track for decarbonisation of our development activities Ambitious low-carbon trajectory 42% reduction in CO2 emissions per sq.m Rating AA Rating B delivered by 2030 (vs 2019) 1.5°C Avenues of decarbonisation cl
Slide 30: Urban regeneration: Key driver for the future
03. Financial and non-financial results for 2024 Urban regeneration: Key driver for the future L’Aparté (Vigneux-sur-Seine – Essonne) Le Parc Habité (Toulouse – Haute-Garonne) • Renovation of an existing tower block: carbon footprint • Transformation of an urban brownfield area into an eco-district
Slide 31: Outlook
04 Outlook Mokusai – Bordeaux (Gironde) 31 Full-year results for 2024
Slide 32: Guidance for 2025
04. Outlook Guidance for 2025 Barring any deterioration in the macroeconomic environment Effective 1 January 2025, the financial data used will be provided solely under IFRS (operational reporting to be discontinued) Return to Current operating profit for “New Nexity”(1) positive profitability (vs n
Slide 33: Solid fundamentals and catalysts going forward
04. Outlook Solid fundamentals and catalysts going forward 1 2 3 4 Transformation plan Enduring leadership Leaner balance sheet Stakeholders finalised position in an under- and adjusted medium- backing supplied market term financing New Nexity Priority placed on returning to profitable growth and ge
Slide 34: Annexes
05. Annexes Écoquartier des Laugiers eco-district – Solliès-Pont (Var) 34 Full-year results for 2024
Slide 35: Upcoming financial events
06. Annexes Upcoming financial events 2024 URD: 15 April 2025 Q1 2025: 24 April 2025 (after market close) Shareholders’ Meeting: 22 May 2025 Reiwa – Saint-Ouen (Seine-Saint-Denis) 35 Full-year results for 2024
Slide 36: Simplified balance sheet
06. Annexes Simplified balance sheet Assets Liabilities and equity Change Change (in millions of euros) 2023 2024 2024/2023 (in millions of euros) 2023 2024 2024/2023 Goodwill after IFRS 5 1,172 1,152 (20) Equity 1,941 1,871 (70) Equity-accounted investments 54 59 6 Financial debt 776 474 (302) Righ
Slide 37: nexity.group
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