PARIS (Agefi-Dow Jones) – Nexity confirmed on Thursday that it expects 2024 to represent a financial “low point”, after recording a double-digit decline in its activity in the first quarter, in a joint a text that is still really difficult. estate development department.
To address this, the organization announced that a job protection plan (PSE) would be implemented in relation to nearly 500 positions. This social plan was published in February last year, but the number of jobs targeted was not specified.
Nexity estimates its specific restructuring costs to be 50 million euros in 2024. Savings on a cost basis from 2025, to the tune of 36 million euros, represent a full-year saving of 45 million euros.
“Nexity is accelerating the implementation of its proactive decisions in 2024 to change the offer, while activating all the levers to reduce debt and reduce its cost base,” said Véronique Bédague , President and CEO of Nexity, announced in a press release.
“The completion of the sale of ADB’s operations to Bridgepoint at the beginning of April, and the savings plan, including in particular the implementation of PSE, will allow us to confirm the progress of our road map,” said the manager.
For the first three months of the year, the income of the real estate developer reached 770 million euros, down 14% compared to the first quarter of 2023. The company saw “the first turning point” with retail sales in “a little revival”.
For this financial year as a whole, Nexity still expects a “positive operating result”, without measuring it.
– Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; valsuar@agefi.fr address: LBO
NEXITY’S FINANCIAL DISCLOSURES:
https://nexity.group/finance
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April 25, 2024 12:00 PM ET (4:00 PM GMT)
2024-04-25 19:30:22
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