Nexity (NXI) investor relations material

Executive summary

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

• Strategic transformation measures and a €100m cost-savings plan underpinned results, with 92% of savings achieved by 2025 and full-year effects expected in H2 2026.

• Guidance for 2026 is confirmed, with priorities on margin rebuilding, deleveraging, and cash generation.

• Strategic partnership with Groupe BPCE aims to enhance new home distribution and market share, with a joint venture operational by January 2027.

• Liquidity remained strong at €563m at end-June 2026, with net financial debt stable at €394m.

Financial highlights

• H1 2026 revenue was €1,064m, down 18% year-over-year; current operating profit doubled to €12m from €6m in H1 2025.

• Net loss reduced to €31m from €44m in H1 2025.

• 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%.

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

Outlook and guidance

• 2026 guidance reaffirmed, with ongoing improvement in operating profitability and leverage ratio reduction, targeting below 3.5x by 2027.

• Pipeline equivalent to 5 years’ revenue, including 42,000 homes secured under option and a backlog of €3.7bn.

• Plan assumes no material macroeconomic deterioration and does not rely on a property market recovery.

• Ongoing €100m cost-savings plan and selective project development to support profitability.