Nexity - Press Release - Results for H1 2026

About this update from Nexans Sa

[{"type":"image","size":{"original":{"url":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw=="}},"alt":"Nexity"},{"type":"text","tagName":"p","content":" RESULTS FOR H1 2026 CURRENT OPERATING PROFIT UP NEW NEXITY IN ACTION GUIDANCE FOR 2026 CONFIRMED "},{"type":"text","tagName":"p","content":" First half of 2026 in line with the Group's trajectory "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" COP of €12m in H1: Ongoing focus on restoring margins for Planning and Development, recurring contribution from Serviced Properties business and impact of the cost-savings plan "}]},{"val":[{"type":"text","tagName":"p","content":" ~3,900 reservations in H1 2026: Sales indicators more positively orientated than the market (retail sales down 9% vs market down 15%1), with supply for sale down 9% vs Dec. 2025, reflecting our voluntarily selective approach "}]},{"val":[{"type":"text","tagName":"p","content":" Solid liquidity of more than €560m at end-June "}]}]},{"type":"text","tagName":"p","content":" New Nexity in action "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" 2 large-scale projects to repurpose commercial sites (Carrefour site in Lomme and the first development with Immo Mousquetaires in Villeneuve-Loubet): Confirmation of Nexity's expertise in urban regeneration "}]},{"val":[{"type":"text","tagName":"p","content":" Ongoing pivot towards high-quality, affordable and low-carbon supply, in line with client demand "}]},{"val":[{"type":"text","tagName":"p","content":" Strategic partnership2 with BPCE in the distribution of new homes: Aimed at supporting the production and acquisition of homes, thereby increasing the Group's market share in distribution "}]}]},{"type":"text","tagName":"p","content":" Clear, steady focus "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Solid fundamentals: Derisked, deleveraged balance sheet: Net financial debt at 30 June 2026 equivalent to 30 June 2025 level Pipeline equivalent to 5 years' revenue, including 42,000 homes on sites secured under option at the Group's target commitment margin of 7% "}]}]},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Clearly defined deleveraging trajectory: Improved operating profitability and financial discipline "}]}]},{"type":"text","tagName":"p","content":" Guidance for 2026 confirmed 3 "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Improvement in operating profitability, with COP for New Nexity4 up in 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Ongoing reduction in the leverage ratio, 5 with the swiftest possible return to a level below 3.5x, no later than 2027 "}]}]},{"type":"text","tagName":"p","content":" VÉRONIQUE BÉDAGUE, CHAIRWOMAN AND CHIEF EXECUTIVE OFFICER, COMMENTED: "},{"type":"text","tagName":"p","content":" \"Against a backdrop of continued market pressures, marked by a wait-and-see attitude in response to the geopolitical context, our performance confirms that our trajectory depends on the measures we have proactively adopted since 2024 – new developments with our target margin, reduction in costs and the growing contribution from the Serviced Properties business – and we confirm our guidance for full-year 2026. New Nexity is gaining momentum, with a high-quality range, success in repurposing commercial sites and the proposed partnership with Groupe BPCE to distribute new homes. Our priorities remain unchanged – rebuilding our margins, deleveraging and generating cash – and with our pipeline of 42,000 homes on sites secured under options, we are well placed to fully capitalise on the cyclical upturn as soon as it materialises.\" "},{"type":"text","tagName":"p","content":" KEY FIGURES FOR H1 2026 "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" Business activity – France "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs H1 2025 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Reservations: Residential Real Estate "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Volume "}]},{"val":[{"type":"text","tagName":"p","content":" 4,278 units "}]},{"val":[{"type":"text","tagName":"p","content":" 3,858 units "}]},{"val":[{"type":"text","tagName":"p","content":" -10% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Value "}]},{"val":[{"type":"text","tagName":"p","content":" €930m "}]},{"val":[{"type":"text","tagName":"p","content":" €809m "}]},{"val":[{"type":"text","tagName":"p","content":" -13% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Backlog: Planning and Development   "}]},{"val":[{"type":"text","tagName":"p","content":" Q1 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs Q1 2026 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" €3.7bn "}]},{"val":[{"type":"text","tagName":"p","content":" €3.7bn "}]},{"val":[{"type":"text","tagName":"p","content":" Stable "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Residential Real Estate Development "}]},{"val":[{"type":"text","tagName":"p","content":" €3.7bn "}]},{"val":[{"type":"text","tagName":"p","content":" €3.6bn "}]},{"val":[{"type":"text","tagName":"p","content":" -1% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Commercial Real Estate Development "}]},{"val":[{"type":"text","tagName":"p","content":" €66m "}]},{"val":[{"type":"text","tagName":"p","content":" €56m "}]},{"val":[{"type":"text","tagName":"p","content":" NS "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Financial results (in millions of euros) "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs H1 2025 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Revenue – New Nexity  (1) "}]},{"val":[{"type":"text","tagName":"p","content":" 1,294 "}]},{"val":[{"type":"text","tagName":"p","content":" 1,057 "}]},{"val":[{"type":"text","tagName":"p","content":" -18% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Current operating profit/(loss) – New Nexity  (1) "}]},{"val":[{"type":"text","tagName":"p","content":" 6 "}]},{"val":[{"type":"text","tagName":"p","content":" 12 "}]},{"val":[{"type":"text","tagName":"p","content":" +€6m "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Operating margin (as % of revenue) "}]},{"val":[{"type":"text","tagName":"p","content":" 0.5% "}]},{"val":[{"type":"text","tagName":"p","content":" 1.2% "}]},{"val":[{"type":"text","tagName":"p","content":" +0.7 pts "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Group share of net profit/(loss) "}]},{"val":[{"type":"text","tagName":"p","content":" (44) "}]},{"val":[{"type":"text","tagName":"p","content":" (31) "}]},{"val":[{"type":"text","tagName":"p","content":" +€13m "}]}]}]},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" Net debt  (2)   "}]},{"val":[{"type":"text","tagName":"p","content":" 30 June 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" 31 Dec. 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" 30 June 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs 31 Dec. 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs 30 Jun. 2025 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" 398 "}]},{"val":[{"type":"text","tagName":"p","content":" 328 "}]},{"val":[{"type":"text","tagName":"p","content":" 394 "}]},{"val":[{"type":"text","tagName":"p","content":" +€66m "}]},{"val":[{"type":"text","tagName":"p","content":" (4) M€ "}]}]}]},{"type":"text","tagName":"p","content":" (1)    Excluding discontinued operations and international operations being managed on a run-off basis. "},{"type":"text","tagName":"p","content":" (2)    Net debt before lease liabilities. "},{"type":"text","tagName":"p","content":" Financial reporting has been aligned with IFRS since 1 January 2025. "},{"type":"text","tagName":"p","content":" 1 – Planning and Development "},{"type":"text","tagName":"p","content":" Performance measures relating to business activity for the first half of the year reflect a wait-and-see attitude among our customers, while the impact of support measures announced by the government at the start of the year to promote buy-to-let investment – notably the Jeanbrun scheme – was not yet material during the period, as anticipated. "},{"type":"text","tagName":"p","content":" Planning and Development – Residential Real Estate "},{"type":"text","tagName":"p","content":" Supply for sale at end-June 2026 stood at 4,947 units. Down 9% from December 2025 and 6% from June 2025, due in particular to the Group's decision to maintain its more selective approach and the concentration of new developments in the second half of 2026. "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Supply for sale is firmly established in high-quality locations, with 93% of units available for sale located in supply-constrained areas with high demand (Abis, A and B1), a 17-point increase compared with 2022. "}]},{"val":[{"type":"text","tagName":"p","content":" Supply for sale thus appears well-suited to current market conditions, as evidenced by the following: High pre-selling rate: 74% for projects launched during the period Stable absorption rate, which held steady at 5 months (compared with an absorption rate of more than 20 months6 for the overall market at year-end 2025) Volume of unsold completed homes still marginal "}]}]},{"type":"text","tagName":"p","content":" Business activity Nexity booked a total of 3,858 reservations over the period. "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Retail sales accounted for 2,230 reservations in the first half of the year, down 9% by volume, in a market that was down 15%7 over the same period. Good momentum with investors: Up 16% to 1,127 reservations, including the ramp-up of the Jeanbrun scheme launched in Q1, with ~200 reservations during the period Sales to homebuyers (down 26%) negatively affected during the period by heightened uncertainty and a wait-and-see attitude among prospective buyers "}]},{"val":[{"type":"text","tagName":"p","content":" Bulk sales, which are not linear over the year, accounted for a volume of 1,628 units over the period. For reference, Q4 2025 accounted for 3,800 units and 51% of bulk sales in full-year 2025. "}]}]},{"type":"text","tagName":"p","content":" In addition, the Planning business accounted for nearly 550 reservations for subdivisions in the half-year period, amounting to €51 million. "},{"type":"text","tagName":"p","content":" Leading indicators: "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" The backlog at end-June stood at €3.6 billion, equivalent to 1.6 years' revenue. As a reminder, business potential (excluding Planning) at end-December 2025 was the equivalent of 42,000 homes, or 3.5 years' revenue, providing a profitable pipeline geared to market conditions of nearly €13 billion in total. "}]}]},{"type":"text","tagName":"p","content":" This business potential as at year-end 2025 does not yet include the contributions from the Carrefour partnership, under which the first building permit was obtained in Lomme (Nord). This project involves the redevelopment and renaturing of a brownfield site of more than 8,000 sq.m, with the development of nearly 430 new homes, including 120 family homes, mostly sold in bulk, as well as a 300-unit student residence and 2,500 sq.m of open ground. For this project, around 400 bulk sales have already been signed to date, 300 of which were already signed at end-June and therefore already included in the backlog mentioned above. For reference, revenue at termination over approximately the next ten years is estimated at more than €2 billion. "},{"type":"text","tagName":"p","content":" Planning and Development – Commercial Real Estate "},{"type":"text","tagName":"p","content":" With the market still at a cyclical low, Nexity recorded a limited order intake of €16 million, mainly concentrated outside the Paris region. "},{"type":"text","tagName":"p","content":" The Group's commercial asset diversification initiative is ongoing, with strong momentum in calls for proposals, covering a wide range of property types – including hotels, cinemas, hospitals and regional centres – as well as its general contractor business. "},{"type":"text","tagName":"p","content":" The backlog stood at €56 million at end-June 2026. "},{"type":"text","tagName":"p","content":" Planning and Development: Financial performance in H1 2026 "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" (In millions of euros) (Excluding discontinued and international operations) "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs H1 2025 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Revenue on a percentage-of-completion basis "}]},{"val":[{"type":"text","tagName":"p","content":" 1,095 "}]},{"val":[{"type":"text","tagName":"p","content":" 857 "}]},{"val":[{"type":"text","tagName":"p","content":" -22% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Current operating profit/(loss) on a percentage-of-completion basis "}]},{"val":[{"type":"text","tagName":"p","content":" 5 "}]},{"val":[{"type":"text","tagName":"p","content":" 7 "}]},{"val":[{"type":"text","tagName":"p","content":" +€2m "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Operating margin (as % of revenue) "}]},{"val":[{"type":"text","tagName":"p","content":" 0.4% "}]},{"val":[{"type":"text","tagName":"p","content":" 0.8% "}]},{"val":[{"type":"text","tagName":"p","content":" +0.4 pts "}]}]}]},{"type":"text","tagName":"p","content":" The Planning and Development division (excluding international operations) recognised revenue of €857 million in the first half of 2026, down 22% relative to H1 2025. This change was in line with our expectations and mainly reflected the following: "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Residential Real Estate: Decline in business activity from projects underway since 2022, due to the recognition of revenue using the percentage-of-completion method "}]},{"val":[{"type":"text","tagName":"p","content":" Commercial Real Estate: Limited replenishment of the backlog over the past three years "}]}]},{"type":"text","tagName":"p","content":" It should be noted that revenue generated by the development businesses from VEFA off-plan sales and CPI development contracts is recognised using the percentage-of-completion method, i.e. on the basis of notarised sales and pro-rated to reflect the progress of all inventoriable costs. "},{"type":"text","tagName":"p","content":" Current operating profit/(loss) came to net profit of €7 million, compared with net profit of €5 million in the first half of 2025, reflecting as expected the business' restored margins, mainly due to the rising contribution under the percentage-of-completion method from project launches with target commitment margins8 since the beginning of 2024. "},{"type":"text","tagName":"p","content":" 2 – Services "},{"type":"text","tagName":"p","content":" Following the finalisation in 2025 of the Property Management disposal plan, with the disposal of Accessite and the Week'in hospitality subsidiary, the Services business is now focused solely on Serviced Properties and Distribution. "},{"type":"text","tagName":"p","content":" Financial performance in H1 2026 "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" (In millions of euros, excluding discontinued operations) "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" H1 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs H1 2025 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Revenue "}]},{"val":[{"type":"text","tagName":"p","content":" 197 "}]},{"val":[{"type":"text","tagName":"p","content":" 198 "}]},{"val":[{"type":"text","tagName":"p","content":" +1% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Serviced Properties "}]},{"val":[{"type":"text","tagName":"p","content":" 145 "}]},{"val":[{"type":"text","tagName":"p","content":" 158 "}]},{"val":[{"type":"text","tagName":"p","content":" +9% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Distribution "}]},{"val":[{"type":"text","tagName":"p","content":" 51 "}]},{"val":[{"type":"text","tagName":"p","content":" 41 "}]},{"val":[{"type":"text","tagName":"p","content":" -21% "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Current operating profit/(loss) "}]},{"val":[{"type":"text","tagName":"p","content":" 14 "}]},{"val":[{"type":"text","tagName":"p","content":" 15 "}]},{"val":[{"type":"text","tagName":"p","content":" +€1m "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Serviced Properties "}]},{"val":[{"type":"text","tagName":"p","content":" 18 "}]},{"val":[{"type":"text","tagName":"p","content":" 19 "}]},{"val":[{"type":"text","tagName":"p","content":" +€1m "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Distribution "}]},{"val":[{"type":"text","tagName":"p","content":" (4) "}]},{"val":[{"type":"text","tagName":"p","content":" (4) "}]},{"val":[{"type":"text","tagName":"p","content":" +€0.1m "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Operating margin (as % of revenue) "}]},{"val":[{"type":"text","tagName":"p","content":" 7.1% "}]},{"val":[{"type":"text","tagName":"p","content":" 7.4% "}]},{"val":[{"type":"text","tagName":"p","content":" +0.3 pts "}]}]}]},{"type":"text","tagName":"p","content":" Revenue from Services for the period was virtually stable at €198 million: "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Revenue from Serviced Properties accounted for 80% of revenue from Services and rose by 9% to €158 million, driven by occupancy rates remaining high for student residences (97%) and coworking spaces (83%9). "}]}]},{"type":"text","tagName":"p","content":" As a reminder, the total number of serviced properties in operation includes 17,000 student residence units spread across 54 cities and over 170,000 sq.m of coworking spaces.10 "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Revenue from Distribution (which accounted for 20% of revenue from Services) fell by €10 million (down 21%) to €41 million. This change includes the impact of a base effect linked to the delivery of the Carré Invalides programme in April 2025 and the lower number of deeds registered during the period relative to H1 2025 as a result of the market downturn (with retail sales down 15%11). "}]}]},{"type":"text","tagName":"p","content":" Current operating profit for the Services business, excluding discontinued operations, came to €15 million, representing a slight improvement. The Serviced Properties business continued to generate a margin of around 12% and overheads in Distribution remained well controlled. "},{"type":"text","tagName":"p","content":" Proposed strategic partnership 12 with BPCE in the distribution of new and renovated homes "},{"type":"text","tagName":"p","content":" On 2 July 2026, Nexity announced that it had entered into exclusive negotiations with Groupe BPCE with a view to carrying out a dual transaction concerning their distribution businesses – BPCE Solutions Immobilières (for Groupe BPCE) and iSelection and Perl (for Nexity): "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Launch of a joint venture dedicated to selecting, acquiring and structuring a range of real estate programmes featuring new and renovated property in France, sourced from developers "}]},{"val":[{"type":"text","tagName":"p","content":" Consolidation by BPCE of the distribution operations carried out by iSelection within the Banque Populaire and Caisse d'Epargne network "}]}]},{"type":"text","tagName":"p","content":" 3 – Consolidated results – IFRS 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The current effective tax rate (excluding the CVAE) was 17% at end-June 2026. "}]},{"val":[{"type":"text","tagName":"p","content":" The share of profit/(loss) from equity-accounted investments does not call for any particular comments. The Group share of net profit/(loss) amounted to a net loss of €31 million in H1 2026, compared with a net loss of €44 million in H1 2025. "}]}]},{"type":"text","tagName":"p","content":" 4 – Financial structure "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" Debt and liquidity "}]}]}]},{"type":"text","tagName":"p","content":" The Group's net debt before lease liabilities stood at €394 million, showing a limited increase (€66 million) with respect to year-end 2025, in line with the seasonal nature of the business (with net debt slightly lower than at end-June 2025). The change in debt notably included a €22 million improvement in operating free cash flow, which equated to an outflow of €52 million, and well-controlled financial expenses. 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"}]},{"val":[{"type":"text","tagName":"p","content":" The Group's liquidity position was strong at 30 June 2026, with liquidity standing at €563 million: The available cash at 30 June 2026 includes the €485 million undrawn portion of the credit facility. "}]},{"val":[{"type":"text","tagName":"p","content":" At 31 December 2025, the Group's leverage ratio stood at 4.9x, ahead of the trajectory set for the leverage ratio: the next test period is set for the end of 2026, to be reviewed annually until the credit facility matures in February 2028. "}]}]},{"type":"text","tagName":"p","content":" Working capital requirement "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" (In millions of euros) "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 31 Dec. 2025 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 30 June 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" Change vs 31 Dec. 2025 "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Planning and Development "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 588 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 578 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" (10) 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"},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" WCR for Planning and Development – Residential Real Estate was down €45 million in connection with lower business activity. "}]},{"val":[{"type":"text","tagName":"p","content":" The increase in WCR for Planning and Development – Commercial Real Estate is expected and purely reflects the payment of franchise fees on the La Garenne-Colombes programme. "}]},{"val":[{"type":"text","tagName":"p","content":" Lastly, the improvement in WCR for Services was offset by the seasonal nature of expense commitments for Other Activities. "}]}]},{"type":"text","tagName":"p","content":" We are still expecting to complete the run-off of international operations by year-end 2027. "},{"type":"text","tagName":"p","content":" 5 – Governance "},{"type":"text","tagName":"p","content":" All resolutions put to the vote at the Shareholders' Meeting of 21 May 2026 passed by a majority of more than 90%. The meeting also saw the departure of Jean-Claude Bassien, Deputy Chief Executive Officer, announced on 25 February 2026, whose term of office expired at the end of the meeting. "},{"type":"text","tagName":"p","content":" 6 – Guidance for 2026 confirmed "},{"type":"text","tagName":"p","content":" Barring any deterioration in the macroeconomic environment, the guidance issued in February 2026 for financial year 2026 as a whole remains unchanged: "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Improvement in operating profitability, with COP for New Nexity15 up in 2026 "}]},{"val":[{"type":"text","tagName":"p","content":" Ongoing reduction in the leverage ratio, 16 with the swiftest possible return to a level below the target of 3.5x, no later than 2027 "}]}]},{"type":"text","tagName":"p","content":" **** "},{"type":"text","tagName":"p","content":" FINANCIAL CALENDAR & PRACTICAL INFORMATION "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" Revenue and business activity in Q3 2026         Thursday, 22 October 2026 (after market close) "}]},{"val":[{"type":"text","tagName":"p","content":" Full-year results for 2026         Wednesday, 24 February 2027 (after market close) "}]}]},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" A conference call with video will be held today at 6:30 p.m. (Paris time) in French, with simultaneous translation into English Link to the webcast Link to the conference call Link also accessible via the \"Finance\" section of our website: https://nexity.group/en/finance   The presentation accompanying this conference will be available on the Group's website from 6:15 p.m. (Paris time). A recording of the webcast will be available the following day at www.nexity.group/en/finance .   "}]}]}]},{"type":"text","tagName":"p","content":" The condensed consolidated interim financial statements were approved by the Board of Directors on 23 July 2026. They were subject to a limited review by the Statutory Auditors. "},{"type":"text","tagName":"p","content":" The information, assumptions and estimates that the Company could reasonably use to determine its targets are subject to change or modification, notably due to economic, financial and competitive uncertainties. Furthermore, it is possible that some of the risks described in Chapter 2 of the Universal Registration Document filed with the AMF under number D.26-0249 on 13 April 2026 could have an impact on the Group's operations and the Company's ability to achieve its targets. Accordingly, the Company cannot give any assurance as to whether it will achieve its stated targets, and makes no commitment or undertaking to update or otherwise revise this information. "},{"type":"text","tagName":"p","content":" NEXITY – LIFE TOGETHER "},{"type":"text","tagName":"p","content":" With €2.8 billion in revenue in 2025, Nexity has a nationwide presence as an urban operator working for urban regeneration and meeting the needs of regions and its clients. Drawing on our dual expertise as a planner/developer and a developer/operator, we are rolling out a regional, multi-product range of services and solutions. As a long-standing proponent of access to housing for all and the leader in our sector when it comes to low-carbon construction, we are dedicated to making new and renovated real estate both affordable and sustainable. In line with our corporate purpose, \"Life together\", we endeavour to help build more vibrant, livable cities that are more welcoming and affordable and that respect individuals, the community and the planet. In 2025, Nexity was ranked France's number-one low-carbon project owner by the BBCA for the seventh year running and came fifth in the customer relations ranking drawn up by Les Échos and HCG. "},{"type":"text","tagName":"p","content":" Nexity is eligible for the Deferred Settlement Service (SRD), listed on Euronext's Compartment B in the CAC Mid & Small index, and is included in particular in Euronext's FAS IAS and CAC SBT 1.5° indices. "},{"type":"text","tagName":"p","content":" CONTACTS: Anne-Sophie Lanaute – Head of Investor Relations & Financial Communications +33 (0)6 58 17 24 22 / [email protected] Nicolas Rehel – Media Relations & Social Media Manager +33 (0)6 59 06 66 46 – [email protected] "},{"type":"text","tagName":"p","content":" ANNEXES "},{"type":"text","tagName":"p","content":" 1.    Residential Real Estate Development – Quarterly reservations "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 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