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Nexity (NXI) investor relations material
Nexity H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved a positive current operating profit of €6M in H1 2025, reversing a €54M loss in H1 2024, driven by margin restoration and cost savings ahead of schedule.
Strong homebuyer momentum, with reservations up 34% in H1 and first-time buyers representing 35% of the mix, supported by expanded financing options and favorable market conditions.
Financial structure reinforced with full repayment of 2025 bond maturities, borrowing costs reduced by €10M, and financing secured through 2028.
Cost-saving plan ahead of schedule, with 92% of the €100M target to be achieved by 2025/2026.
Guidance for 2025 confirmed: operational profitability and net debt target below €380M, barring macroeconomic deterioration.
Financial highlights
H1 2025 revenue at €1.3B, down 12% year-over-year on a like-for-like basis; residential real estate revenue down 5%.
Commercial real estate revenue fell 83% year-over-year due to lack of new orders; backlog stable at €4B.
Services revenue up 12–13% year-over-year, with serviced properties and distribution segments driving growth; serviced properties margin at 12.5%.
EBITDA improved to €97M from €40M year-over-year; operating margin for H1 2025 was 0.5%, up from -3.7%.
Net debt before lease liabilities at €398M as of June 30, up €68M from December 2024; liquidity at €528M.
Outlook and guidance
Focus on rebuilding margins, deleveraging, and accelerating profitable growth through project launches aligned with market conditions.
Free cash flow of at least €70M expected in H2; full-year net debt target confirmed at €380M.
Cost savings plan ahead of schedule, with 92% of €100M target for 2026 already achieved.
Further non-core asset disposals and completion of international business run-off planned.
Guidance for EBITDA improvement and further reduction in working capital requirements in H2.
Next Nexity earnings date

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