| 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