Nexity: currently has solid cash position
(CercleFinance.com) - Nexity has announced a "solid" position, with up to 775 million euros in cash and 555 million euros in credit lines that are confirmed and undrawn.
It has confirmed a dividend payment of 2.70 euros per share in the first half of 2020.
The real estate group recently announced a suspension of its projects, search for accommodation and offices - either for purchase or rental, along with a suspension in purchase decisions by it clients - clearly at least for the duration of the confinement.
However, with an order backlog of over 5 billion euros and a potential pipeline of more than 15 billion euros in revenues in property development, without counting its recurrent services, the group boasts sound visibility over the medium term.
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