Nexity (NXI) investor relations material

Executive summary

• Current operating profit doubled to €12m in H1 2026, driven by margin restoration, cost savings, and recurring serviced properties contributions, despite an 18% revenue decline and challenging market conditions.

• Commercial indicators outperformed the market, with 3,858–3,900 reservations and retail sales down 9% versus a 15% market drop.

• Strategic partnership with BPCE initiated for new home distribution, aiming for operational launch by January 2027.

• Strong liquidity position above €560m at June-end and net financial debt stable at €394m.

• Ongoing pivot toward high-quality, supply-constrained areas and urban regeneration projects.

Financial highlights

• H1 2026 revenue: €1,064m (down 18% year-over-year); current operating profit: €12m (up €6m); net loss: €31m (improved by €13m year-over-year).

• Residential revenue (79% of total) declined 22% due to lower reservations since 2022.

• Serviced properties revenue up 9% to €158m, with student residence occupancy at 97% and coworking at 83%.

• Operating margin for New Nexity increased to 1.2% from 0.5% in H1 2025.

• Net financial debt stable at €394m at end-June 2026.

Outlook and guidance

• 2026 guidance reaffirmed, targeting improved operating profitability and leverage ratio below 3.5x by 2027.

• Pipeline equivalent to 5 years’ revenue, including 42,000–43,000 homes secured under option.

• Ongoing €100m cost-savings plan, with 92% achieved by 2025 and full-year effects expected in H2 2026.

• Guidance assumes no further macroeconomic deterioration and does not rely on a property market recovery.