Nexity: Q1 revenues down 11%
(CercleFinance.com) - Nexity's revenues amounted to 787 million euros in Q1 2020, down 94 million euros, or -11% y-o-y.
Under IFRS standards, revenues reached 723 million euros, down 13%.
The group estimates the negative impact resulting from the slowdown in business seen since 16 March at around 130 million euros, i.e. 14% of last year's sales, the group said.
Revenues from residential property fell by 62 million euros or -11% y-o-y. Revenues from real estate services to individuals came in at 211 million euros at 31 March 2020.
Nexity's cash position remains very strong, with total cash flow of 722 million euros, in addition to confirmed and undrawn credit lines as at 30 April 2020.
The group has announced the suspension of its targets and outlook. The dividend paid in 2020 is however maintained, but reduced to 2.00 euros per share (compared to 2.70 euros originally planned).
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