DJ Kaufman & Broad SA: Q1 2020 RESULTS
Kaufman & Broad SA
Kaufman & Broad SA: Q1 2020 RESULTS
19-March-2020 / 19:45 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press release
Paris, Thursday, 19 March, 2020
A SOLID FINANCIAL POSITION IN THE CURRENT CONTEXT OF HEALTH CRISIS
Q1 2020 Results
SUSPENSION OF 2020 OBJECTIVES
· Q1 2020 results at 29 February 2020 are characterized by:
· An overall Backlog of EUR 3,403.3m (excl.VAT) (+51.6% vs Q1 2019) and
a housing property portfolio up +8.2 % vs Q1 2019 at 33,429 units,
· A gross margin ratio of 19.1% and an EBIT margin of 8.5%,
· No net debt and financing capacity of EUR 412.5 million.
· In light of the current health crisis, the Board of Directors has
decided:
· to bring forward the publication of Q1 2020 results,
· to suspend the 2020 objectives previously announced
Kaufman &
Broad SA
· Key sales data (Q1 2020 vs Q1 2019) is today
announcin
g its
unaudited
results
for Q1
2020
(from 1
December
· Orders 2019 to
29
Total: EUR 1,401.5M incl. VAT (x February
3.0) 2020).
Nordine
Hachemi,
Chairman
Of which: and Chief
Commercial: EUR 1,075.0M incl. Executive
VAT(x 9.5) Officer
of
Kaufman &
Broad,
Housing: EUR 326.5M incl. VAT made the
(-8.6%) following
1,482 units (-16.3%) comments:
· Take-up period2 for Housing:
"In the
6.8 months vs. 5.5 months (+1.3 months) context
of the
recent
developme
nts of
the
current
health
· Key financial data crisis
and its
impact on
general
(Q1 2020 vs. Q1 2019) economic
activity,
the board
of
· Revenues: directors
of
Total: EUR 299.2m (-8.8 %) Kaufman &
Of which Housing: EUR 272,2m Broad has
(-4.8%) decided
to
anticipat
e the
release
of its
results
· Gross margin: for the
first
EUR 57.1m (19.1% of revenue) quarter
of 2020,
in order
to inform
the
market of
its
· EBIT: analysis
of the
EUR 25.4m (8.5 % of revenue) situation
as quicly
as
possible.
· Attributable net income:
EUR 13.2m (-8.1%)
Kaufman &
Broad
fully
takes its
responsib
· Net cash 1: ilities
towards
EUR 9.2m (vs. EUR 56.0m at end-2019) its
employees
, whose
safety
and
health is
essential
· Financing capacity: , but
also its
EUR 412.5m (vs EUR 458.1m to customers
end 2019) , who are
still
being
provided
with
Kaufman &
Broad's
services
· Main growth indicators (Q1 2020 vs Q1 when
2019) possible,
and its
suppliers
, whose
ability
to get
through
this
crisis is
· Overall backlog: vital in
order to
EUR 3,403.3m (+51.6 %) resume
Of which Housing: EUR 2,073.2m (+5.0%) construct
ion
activitie
s as soon
as
possible.
· Housing property portfolio:
33,429 units (+8.2 %)
During
these
difficult
times,
the end
of which
is
currently
unknown,
and
beyond
continuin
g to
control
its
costs,
working
capital
requireme
(MORE TO FOLLOW) Dow Jones Newswires
March 19, 2020 14:45 ET (18:45 GMT)
nts and
capital
expenditu
res,
Kaufman &
Broad
relies in
particula
r on two
fundament
al
parameter
s:
· A net
debt
equal
to
zero,
which
provide
s a
very
strong
financi
al
structu
re at
29
Februar
y 2020
featuri
ng:
· A
high
level
of
availab
le cash
of
EUR 41
2.5
million
;
· An
average
maturit
y of
its
gross
debt
higher
than 4
years;
·
Consoli
dated
shareho
lders'
equity
of
EUR 30
8.8
million
·
Growth
indicat
ors
allowin
g
Kaufman
& Broad
to
project
itself
beyond
the
next
coming
months:
· An
overall
backlog
of
EUR 3.
403
billion
and
EUR 2.
073
billion
for the
sole
Housing
activit
y. The
backlog
is a
summary
at a
given
time,
which
enables
the
revenue
yet to
be
recogni
zed
over
the
coming
months
to be
estimat
ed,
thus
support
ing the
group's
forecas
ts -
being
specifi
ed that
there
is an
element
of
uncerta
inty in
the
transfo
rmation
of the
backlog
into
revenue
,
particu
larly
for
orders
that
have
not yet
been
signed
(i.e.
approxi
mately
40% for
Housing
and 85%
for
Commerc
ial
Propert
y).
(MORE TO FOLLOW) Dow Jones Newswires
March 19, 2020 14:45 ET (18:45 GMT)
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