Slide 1: Investor Presentation May 2019
INVESTOR PRESENTATION MAY 2019
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
Agenda # Our Real Estate Services Platform # Financial results # Business activity — Individual Clients — Commercial and Local Authority Clients # Outlook # Appendix Nexity / Investor Presentation - May 2019 3
Slide 4: Our Real Estate Services Platform
Our Real Estate Services Platform
Slide 5: Our ambition
Our ambition Being useful to the So we need to: world in which we # Provide solutions to demographic, sociological and environmental challenges operate and being # Devise solutions to our Clients’ requirements by harnessing new uses and create shared value useful to others by # Think about all aspec
Slide 6: Our real estate services platform
Our real estate services platform Development of new homes and subdivisions Property management for individuals (condominium management, rental management, lettings,…), brokerage, operation of serviced residences (student and senior housing) Franchise networks Commercial real estate Commercial prope
Slide 7: Our impact on society
Our impact on society HUMAN DEVELOPMENT SOCIO-ECONOMIC IMPACT • > 10,000 employees • 1st partner of social housing, 1st player in intermediate housing, 1st operator in QPV* • Women make up 31% of the Club 100 (35% target by 2020) • Territorial network: > 400 geographical locations • 9% of voluntary
Slide 8: A resilient business model generating cashflows
A resilient business model generating cashflows EBITDA (in €m) Average 2008-2018 : 286 523 461 368 265 260 305 217 224 215 232 228 221 Cash flow from operating activities after financial and tax expenses (in €m) Average 2008-2018 : 173 311 350 239 151 133 132 133 149 182 122 128 117 Free cash flow (
Slide 9: Nexity in 2018
Nexity in 2018 2018 REVENUE* 2018 EBITDA ** (in €m) (in €m) ▪ Services represent: €971m revenue and 69 65 7 €201m EBITDA 512 ▪ Or: 23% of total revenue and 902 €4,135m €523m 284 38% of total EBITDA 2,648 194 2.267 74% ▪ Contribution of services * o/w Other activities for €4m ** o/w Other activities
Slide 10: Financial Results
Financial Results
Slide 11: Q1 2019 Key figures
Q1 2019 Key figures (1) INDIVIDUAL CLIENTS COMMERCIAL CLIENTS ▪ Revenue: €762m +26% vs Q1 2018 ▪ Revenue: €119m +40% vs Q1 2018 €671m (+11%) on a like-for-like basis €111m (+31%) on a like-for-like basis ▪ New home reservations in +7.3% +8.1% ▪ Order intake: €9m France : in volume in value 2019 guid
Slide 12: Q1 2019 Revenue
Q1 2019 Revenue* (in €m) +27.9% +34 881 Other activities +91 Commercial Clients ▪ Revenue: +28% compared to +68 119 688 Q1 2018 (+14% on a like-for- +40% €111m (+31% LFL) 1 like basis) 85 ▪ Ægide-Domitys : €91m in Q1 Individual Clients 2019 (€42m for development 762 activities and €49m for the 603 +
Slide 13: 2018 income statement
2018 income statement 2017 In million of euros 2018 restated Revenue 4,135.0 3,571.3 +16% EBITDA 523.0 460.6 +14% % of revenue 12 .6% 12 .9 % Current operating profit 372.7 337.9 +10% % of revenue 9 .0 % 9 .5% Remeasurement of Ægide-Domitys following acquisition of control 79.2 - Operating profit 45
Slide 14: 2018 revenue
2018 revenue (in €m) +15.8% +174 ▪ Revenue up 16% compared to 4,135 +175 4 Other activities 2017 (+11% on a like-for-like basis) 3,571 +215 581 Commercial Clients 4 ▪ Individual Clients: Ægide- 407 +43% Domitys H2 2018 revenue was €175m (€83m for development activities and €91m for the Individual Cl
Slide 15: 2018 EBITDA
2018 EBITDA EBITDA EBITDA MARGIN (in €m) (in %) 16.5% 13.6% 13.2% 13.4% 12.9% 523 12.3% 12.6% 461 72 +5 M€ 67 +61M€ 477 416 -23 -26 2017 2018 2017 2018 2017 2018 2017 2018 restated restated restated restated Individual Clients Commercial Clients Group Individual Clients Commercial Clients Other acti
Slide 16: Focus on Real Estate Services to Individuals
Focus on Real Estate Services to Individuals REVENUE EBITDA margin rate by sub-segment (In €bn) (as a % of revenue) 1.3 51.7% 0.5 38.3% 0.9 0.8 -3% 0.4 0.4 0.5 21.1%* X2 18.7% 0.1 0.2 15.4% 15.7% 0.4 +2% 0.4 0.4 2017 2018 2021e 2017 2018 2017 2018 2017 2018 restated restated restated restated Proper
Slide 17: Simplified balance sheet at 31 December 2018
Simplified balance sheet at 31 December 2018 (in €m) 1,579 1,764 Goodwills Equity (incl. Non-controlling interests) 112 Provisions Other assets 967 Net financial debt 757 before IFRS 16 Total net debt: €1,567m WCR 896 IFRS 16 810 Leases ASSETS EQUITY AND LIABILITIES Nexity / Investor Presentation -
Slide 18: 2018 Change in working capital requirement
2018 Change in working capital requirement (in €m) ▪ Individual Clients: virtually stable +€80m working capital in Residential Real Estate (+1.6%) in spite of strong +108 +16 896 Other activities 817 +12 -57 48 (incl. income tax) momentum in this segment (backlog: 32 87 Commercial Clients +18%), and
Slide 19: Reconciliation between 2018 EBITDA and current operating profit
Reconciliation between 2018 EBITDA and current operating profit (in €m) -€150m 523 -103 -32 +5 373 -14 -6 2018 IFRS 16 Depreciation, Provision charges Share-based Borrowing costs directly 2018 EBITDA amortisation amortisation (-) / reversals (+) payments attributable to property Current and impairme
Slide 20: 2018 Change in net financial debt (before IFRS 16)
2018 Change in net financial debt (before IFRS 16) (in €m) -€414m -158 +508 -102 1.8x -48 2018 EBITDA -343 excl. IFRS 16 (€419m) -351 -757 vs -104 2.5x -140 -20 EBITDA excl. IFRS 16 (targeted threshold Cash flow from Interest and Change in CAPEX External Future lease Dividend Share buyback given in
Slide 21: Business activity
Vv) Vv) @ Cc Bus ity IV act
Slide 22: Expansion of the services platform strategy
Expansion of the services platform strategy Jul. 18 Nov. 18 Dec. 18 Dec. 18 Jan. 19 French leader in serviced Corporate concierge Digital plateform (sensors Leading player in the Paris ready- Property Manager, Broker senior residences services placed in buildings) to-use office space market and spec
Slide 23: Individual Clients
Business Activity Individual Clients
Slide 24: Nexity, service offering for Individual Clients
Nexity, service offering for Individual Clients ▪ 12 million visits to the Group’s web Buy BUY / platform and the nexity.fr website in 2018, SELL INVEST some 11% looked at more than one business line Brokerage for individuals Individual homebuyers / (BtoC and BtoBtoC) Individual investors Profession
Slide 25: The Individual Clients services platform
The Individual Clients services platform 35% of condominium management mandates and 20% of rental More than 100 land opportunities provided to management mandates come from Residential Real Estate developement teams 70% of the buildings delivered by Nexity are kept for condominium More than €200m of
Slide 26: Individual Clients
Individual Clients Q1 2019 KEY FIGURES REVENUE +26% (In €m) 762 ▪ Revenue: €762m (+26%) 603 209 (27%) 158 ▪ Residential Real Estate (26%) > 3,883 new home reservations in France, up 7% by volume, up 8% by value 553 > Business potential for new homes: 54,300 units (up 1% from end-2018) 445 (73%) ▪ Re
Slide 27: Change in new home reservations in France
Change in new home reservations in France (in units) +10% -7% ~ -8% 168,600 Low mortgage rates: 1.39% in March 2019 153,900 157,600 ~145,000 Demographics 125,600 121,100 Stability of tax incentives 105,900 108,600 107,500 Increase in construction costs and land prices Municipal elections approaching
Slide 28: Residential Real Estate: a clear market leader
Residential Real Estate: a clear market leader CHANGE IN NEXITY’S MARKET SHARE* COMPETITIVE ENVIRONMENT FOR NEW HOMES IN (157,556 reservations in 2018) FRANCE IN 2018** 11.6% Nexity 12.4% 12.4% 10.9% Bouygues Immobilier*** 10.3% 9.4% 9.6% 9.3% 9.6% 9.3% 8.5% 63.0% 7.5% Altarea Cogedim Others 58.7% 5
Slide 29: Strong presence in the Grand Paris
Strong presence in the Grand Paris* NEXITY’S MARKET SHARE** NEXITY MARKET SHARE BY PRODUCT TYPE*** (including bulk sales) Bulk sales Serviced residences Reduced-VAT zones 48,633 47,441 15.4% 15% 42,217 21% 24% 14.7% 13.5% RETAIL SALES AFFORDABLE HOUSING Nexity is a clear leader in front of its main
Slide 30: Nexity new home reservations
Nexity new home reservations VOLUME VALUE (in units, including Ægide from 1 July 2018) (in €m incl. VAT, including Ægide from 1 July 2018) +4.5% +6.7% 4,177 Subdivisions 797 4,022 3,997 747 20 258 International 3 479 339 36 +7.3% 699 4 28 +8.1% 3,437 37 40 35 9 417 581 73 13 32 3.883 773 3,506 3,618
Slide 31: Nexity key client segments performance
Nexity key client segments performance VOLUME (in units, including Ægide from 1 July 2018) +7% 3,883 ▪ Individual investors: 51% of total 3,506 3,618 Social landlords sales (o/w 53% using Pinel scheme) -21% 14% Bulk sales: -15% 19% -3% 9% Institutional (LFL: -15%) ▪ Temporary slowdown in social hous
Slide 32: Nexity new homes: price trends
Nexity new homes: price trends AVERAGE PRICE (in thousand of euros, excl. PERL, iSelection, Ægide, International and bulk sales) 273 267 257 257 261 Paris region: -5.8% 267 265 Paris region excl. Paris: -4.1% 257 256 250 227 224 226 France: -0.3% 214 218 202 192 193 197 Rest of France: +4.8% 184 200
Slide 33: Nexity new homes: supply for sale
Nexity new homes: supply for sale CURENT SUPPLY FOR SALE (in units, excl. International and including Ægide from 1 July 2018) -9% 9,005 8,651 8,135 2% 8,151 2% 2% 6,988 6,773 31% 2% 6,438 27% 35% ▪ Take-up period* of 4.9 months 5,313 in Q1 2019 (compared to 5.3 in 5,058 Q1 2018 and 5.5 in FY 2018) 5
Slide 34: Business potential for new homes
Business potential for new homes (in units, excl. International and including Ægide from 1 July 2018) 2.7 YEARS OF ACTIVITY +1% 53,602 54,299 47,560 49,581 41,813 43% 43% 42% 34,453 22,824 23,143 23,941 23,100 24,832 21,285 19,057 28% 57% 53% 57% 72% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Slide 35: Property management for individuals and Distribution
Property management for individuals and Distribution PMI – Units under management FRANCHISES Change in number of agencies (in thousands of units) +1% 1,292 1,361 1,371 1,217 2016 2017 2018 Q1 2019 830 867 871 Condominium 793 726 721 721 721 management Rental 424 462 494 500 172 168 175 177 managemen
Slide 36: Student residences
Student residences Number of residences ▪ Robust growth in the French student housing market ‒ 1.5 million students to be housed outside the family home in 2018 ‒ 2025 growth forecast: +16.4% ‒ Equal to 1.75 million students to be housed, of which 470,000 international students (China, North Africa,
Slide 37: Senior independent living facilities
Senior independent living facilities Number of residences ▪ ~600 facilities in France, i.e. ~50,000 housing units Main players 89 +24% CAGR 72 83 59 52 48 58 36 41 +20% 25 15 1 million 35 31 +46% 2011 2012 2013 2014 2015 2016 2017 2018 Q1 2019 5 millions ▪ The population of those aged 75 or over is
Slide 38: Commercial and Local Authority Clients
Business activity Commercial and Local Authority Clients
Slide 39: Adapting our solutions to meet client needs
Adapting our solutions to meet client needs NEXITY ADVISORY ENTRERPRISE BROKERAGE SOLUTIONS CLIENT DEVELOPMENT PLANNING BUSINESS OPERATIONS PROPERTY MANAGEMENT FACTORY Nexity / Investor Presentation - May 2019 39
Slide 40: Commercial Clients
Commercial Clients REVENUE Q1 2019 KEY FIGURES (In €m) +40% ▪ Revenue: €119m (+40%) 119 21 ▪ Commercial Real Estate 85 (17%) 15 > No significant order in Q1 (€9m excl. VAT) (18%) > Business potential: €2.8bn (stable compared to end-2018) 98 70 (83%) (82%) ▪ Real Estate Services to Companies > 19 mil
Slide 41: Commercial real estate market
Commercial real estate market COMMERCIAL REAL ESTATE INVESTMENTS IN FRANCE COMPARISON OF PRIME REAL ESTATE AND GOVERNMENT (in € billion) BOND YIELDS 10% 35 9% 30 8% 7% 25 2006-2018 average: €20.4bn 6% 20 5% 4.40% 4% 15 3% 3.00% 10 2% -13% 5 3.8 1% 0.25% 0% 0 06 07 08 09 10 11 12 13 14 15 16 17 18 Q1
Slide 42: Business potential for Commercial Real Estate
Business potential* for Commercial Real Estate AT 31 DECEMBER 2018 AT 31 MARCH 2019 (in €m) (in €m) 5.5 YEARS OF ACTIVITY 5.5 YEARS OF ACTIVITY 775 824 (28%) (29%) +2% €2,796m €2,845m 2,021 2,021 (72%) (71%) Paris region Rest of France * Corresponds to the total volume of potential business at any g
Slide 43: La Garenne-Colombes (Hauts-de-Seine)
La Garenne-Colombes (Hauts-de-Seine) Engie: a financial and strategic development partnership ▪ Acquisition with Engie in July 2018 of a 9-hectares plot of PSA group industrial land in La Garenne-Colombes (92), and a further 2 hectares with RATP group ▪ Conclusion of a technological partnership to d
Slide 44: Real Estate Services to Companies
Real Estate Services to Companies ACCESSITE PROPERTY MANAGEMENT (in millions of sq.m under management) ▪ Property manager and broker specialised in retail spaces +1.9% ▪ Majority stake of 71% (consolidated from 1 January 2019) 19.0 ▪ 951,000 sq.m under management 18.6 12.3 10.6 10.1 11.3 8.0 8.0 1.0
Slide 45: Coworking market
Coworking market KEY FIGURES: Of the total offices Total area of Of the Paris region from 1% Of the Paris coworking spaces cowortking spaces are to 6% take-up in the Paris 1% region offices in >300,000 in the Paris region 72% located in the inner city region between sq. m Q3 2018 in Q3 2018 of Paris
Slide 46: Morning Coworking
Morning Coworking STRONG REVENUE GROWTH (in €m) x3.4 17 11 5 5 2016 2017 2018 Q1 2019 ▪ 18 coworking spaces at end-March 2019 ▪ Near 50,000 sq.m ▪ >5,000 workstations Nexity / Investor Presentation - May 2019 46
Slide 47: Inventer Bruneseau - Nouvel R Project
« Inventer Bruneseau » - « Nouvel R » Project Won the call for projects to develop near 100,000 sq.m between Paris and Ivry-sur-Seine. An ambitious project that will make of Bruneseau the first carbon-free district in France Key figures: ▪ 95,000 sq.m: 25,000 sq.m of offices / 50,000 sq.m of housing
Slide 48: Villes & Projets
Villes & Projets Urban regeneration Grand Paris Grand Paris Grand Paris ~637,000 sq.m Portfolio at 31 March 2019* (stable compared to 31 Dec. 2018) ASNIÈRES (HAUTS-DE-SEINE) SAINT-OUEN (SEINE-SAINT-DENIS) LE BLANC-MESNIL (SEINE-SAINT-DENIS) 60,300 sq.m 75,500 sq.m 20,500 sq.m Grand Grand Grand Grand
Slide 49: Outlook
Outlook
Slide 50: Long term trends for housing
Long term trends for housing Estimated number of homes required per year by 2040 (in thousands of units) 4 million 32 million 400-450k units people in substandard housing and 12.1 million people in fragile households by 2030, +4 million (Nexity estimate) Plugging the construction situations(1) compa
Slide 51: Nexity's Backlog at 31 March 2019
Nexity’s Backlog* at 31 March 2019 16 MONTHS REVENUE FROM DEVELOPMENT In €m, excl. VAT, including Ægide from 2018 ACTIVITIES IFRS 15 standard applied from January 2018 (2017 has been restated accordingly) = 4,469 4,491 4,008 3,991 308 222 544 465 3,355 3,283 3,293 3,085 486 449 487 383 4,161 4,269 3
Slide 52: 2019 guidance
2019 guidance FINANCIAL INDIVIDUAL COMMERCIAL LOCAL AUTHORITY PERFORMANCE CLIENTS CLIENTS CLIENTS ▪ Revenue and EBITDA ▪ New homes in France: ▪ Commercial Real Estate order ▪ Initiation of the largest expected to grow by at Continued growth in Nexity’s intake: at least equal to 2018 private project
Slide 53: Our medium-term goals
Our medium-term goals FINANCIAL PERFORMANCE INDIVIDUAL CLIENTS ▪ Reservations for new homes in France: continued market share gains for ▪ Compound annual growth in revenue and EBITDA of 10% Nexity (up 3 percentage points) in a stable market (160,000 reservations expected in 2021 (2)) +10% CAGR REVEN
Slide 54: Strong and sustainable dividend policy
Strong and sustainable dividend policy In € per share 2.4 2.5 2.5 ≥2.5 ≥2.5 ≥2.5 2.2 2.0 2.0 2.0 Paid in: 2013 2014 2015 2016 2017 2018 2019* 2020* 2021* 2022* Payout ratio (in % of EPS) : ~100% 79% 71% * Pending the decision of Nexity’s Board of Directors and approval of the Shareholders’ Meeting N
Slide 55: Corporate Social Responsibility
Corporate Social Responsibility 2018 KEY CSR INDICATORS Non-financial ratings ▪ Women make up 31% of Nexity’s Club 100 members ▪ 10% decrease in carbon footprint per employee relative to 2014 ▪ 90% of (residential) development projects with a low-carbon assessment study at design phase ▪ 12 condomin
Slide 56: Nexity's ownership structure
Nexity’s ownership structure 31 MARCH 2019 56,129,724 shares(1) Crédit Mutuel Arkéa 5.3% 5.3% Concert ▪ Share buyback programme: 14.2% A. Dinin, New Port (2) and other Nexity’s managers group 656.129 shares acquired to belonging to the concert group 14.2% 19.5% date to offset the dilution 3.2% poten
Slide 57: Change in governance – 22 May 2019 (Shareholders' Meeting)
Change in governance – 22 May 2019 (Shareholders’ Meeting) Alain Dinin, Nexity’s Chairman and CEO, has proposed to separate the roles of Chairman and CEO: • As Chairman of the Board of Directors, Alain Dinin would work with the Board to determine the Group’s strategy and oversee the implementation a
Slide 58: Appendix
Samm ne: Appendix
Slide 59: New reporting standard: IFRS 15 Revenue from contracts with customers
New reporting standard: IFRS 15 Revenue from contracts with customers ▪ Percentage-of-completion principle maintained for real estate development activities in France, but percentage of completion must be calculated based on all inventoriable costs (including land) ▪ Faster recognition of revenue an
Slide 60: Individual Clients
Individual Clients Margin rate (as a % of REVENUE EBITDA revenue) (In €m) (in €m) 2018 KEY FIGURES ▪ Residential Real Estate +12% +15% 13.4% – 19,609 new home reservations, +7% in volume, +10% in value Vs 13.2% in 2017 3,550 477 – 12.4% market share* (compared to 10.9% in 2017) 3,160 – Buisness pote
Slide 61: Building permits and housing starts
INDIVIDUAL CLIENTS Residential Real Estate Building permits and housing starts BUILDING PERMITS HOUSING STARTS (in units, 12 months rolling) (in units, 12 months rolling) -8.2% -5.2% 485,300 433,200 410,700 445,700 Mar. 16 Mar. 17 Mar. 18 Mar. 19 Mar. 16 Mar. 17 Mar. 18 Mar. 19 ▪ Building permits do
Slide 62: Historical evolution of building permits
INDIVIDUAL CLIENTS Residential Real Estate Historical evolution of building permits (in units, quarterly basis) 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 2001 Q1 2008 Q1 2014 Q1 Source: Commissariat Général au Développement Durable (CGDD) Municipal elections Nexity / Investor Pre
Slide 63: Nexity reservations in France by area – Q1 2019
INDIVIDUAL CLIENTS Residential Real Estate Nexity reservations in France by area – Q1 2019 VOLUME VALUE (in units, including Ægide from 1 July 2018) (in €m incl. VAT, including Ægide from 1 July 2018)) +7% +8% 3,883 773 3,506 3,618 715 -32% 655 29% -22% 37% 39% Paris region 55% 45% 51% +39% 71% 61%
Slide 64: Launches
INDIVIDUAL CLIENTS Residential Real Estate Launches NUMBER OF UNITS LAUNCHED (in units, incl. Ægide from 1 July 2018) 21,607 19,585 7,977 ▪ Decrease in number of units launched: -6% 13,976 (49 compared to 52 in Q1 2018) ▪ Growing difficulty to obtain administrative authorisations 4,331 ▪ Careful app
Slide 65: Control of production cost of new homes
INDIVIDUAL CLIENTS Residential Real Estate Control of production cost of new homes* Costs structure Medium-term Nexity’s responses development 100% Borrowing costs 1% Marketing & Advertising 7% # Innovative marketing methods Professional fees & insurance 8% # Digitisation Internal fixed costs 8% # O
Slide 66: Live in the sky… in a vertical village: Emblématik
INDIVIDUAL CLIENTS Residential Real Estate Live in the sky… in a vertical village: Emblématik (Aubervilliers – Seine-Saint-Denis) Project manager: Castro Denissof Associés Useful, desirable, affordable, minimal and vegetal Nexity / Investor Presentation - May 2019 66
Slide 67: Eugénie connects…
INDIVIDUAL CLIENTS Eugénie connects… 2018 KEY FIGURES ▪ 9 residences delivered ▪ 221 housing units connected Nexity / Investor Presentation - May 2019 67
Slide 68: Energy efficiency works
ENERGY EFFICIENCY WORKS # NEXITY IS A COMMITTED OPERATOR THAT WORKS CLOSELY WITH PUBLIC BODIES 2018 : signing of a Green Deal with Plan Bâtiment Durable & signing of the Habiter Mieux Charter of commitment of Anah (National Agency for the Improvement of Habitat) - 2018: more than 350 employees train
Slide 69: Ægide-Domitys – 2018 key figures
Ægide-Domitys – 2018 key figures > Business activity > Financials (IFRS standards) Total Ægide Total Ægide excl. joint venture with Nexity incl. Nexity H2 2018 FY 2018 FY FY DEVELOPMENT H1 2018 H2 2018 2018 2018 Revenue €175m €331m New home reservations in volume 856 units 549 units 1,405 units 2,45
Slide 70: Commercial Clients
Commercial Clients Margin rate REVENUE EBITDA (as a % of (In €m) (in €m) revenue) 2018 KEY FIGURES +43% ▪ Commercial Real Estate +7% 72 12.3% – €349m order intake 581 67 Vs 16.5% in 2017 69 7 – Business potential: €2.8bn (+80% compared to 2017) 5 (12%) (10%) (7%) 407 ▪ Real Estate Services to Compan
Slide 71: New order intake and backlog
COMMERCIAL CLIENTS Commercial Real Estate New order intake and backlog ORDER INTAKE BACKLOG (in €m) (in €m) 544 +9 -98 403 402 +3 Average: 374 356 349 349 250 308 166 190 222 151 183 9 2013 2014 2015 2016 2017 2018 Q1 2019 31 Dec. Q1 2019 Q1 2019 Additional 31 Mar. 2019 target 2018 order intake reve
Slide 72: Local Authority Clients
Local Authority Clients 2018 KEY FIGURES AÉROG’ART Restoration project of the largest Air France ▪ Portfolio*: ~635,000 sq.m, +8% sales agency ▪ Land bank: €130 million** Architect: Dominique Perrault – DP Architecture Réinventer Paris 2 joint-venture with Emerige ~7,500 sq.m including an arts and c
Slide 73: 2018 Current operating profit
2018 Current operating profit CURRENT OPERATING PROFIT CURRENT OPERATING MARGIN (in €m and margin rate in %) (in %) 14.9% +10.3% 373 338 11.0% 64 10.1% 10.0% 61 +€3m 9.5% 9.0% 321 353 +€33m -43 -45 2017 2018 2017 2018 2017 2018 2017 2018 retraité restated restated restated Individual Clients Commerc
Slide 74: 2018 cash-flow statement
2018 cash-flow statement FY 2017 In €m FY 2018 restated Cash flow from operating activities before interest and tax expenses 508 448 ▪ Net cash from financial investments: €78m mainly corresponds to external growth transactions (acquisition of 18% of Ægide, a Cash flow from operating activities afte
Slide 75: Financial debt schedule (before IFRS 16) at 31 December 2018
Financial debt schedule (before IFRS 16) at 31 December 2018 (in €m) 456(2) 436(3) 351(4) Drawn at 31/12/2018 97 164 (1) 5 41 Corporate borrowings 2019 2020 2021 2022 2023 2024 2025 Project related loans -1,231 >25% of debt with maturity > 5 years -319 >Average maturity: 3.7 years -1,549 >Cost of fi
Slide 76: 19, rue de Vienne 75 008 Paris Tél. : +33 (0)1 85 55 12
19, rue de Vienne 75 008 Paris Tél. : +33 (0)1 85 55 12 12