OUTLOOK FOR 2026:
REVENUE GROWTH
AND INCREASE IN PROFITABILITY
BUSINESS PERFORMANCE IN LINE WITH GROUP FORECASTS
| Consolidated (€ million) unaudited | Q3 | 9 months | |||
| 2026 | 2025 | 2026 | 2025 | Change | |
| Total revenue | 149.1 | 136.6 | 492.8 | 442.8 | +11.3% |
| Home Building | 113.8 | 96.4 | 396.0 | 333.6 | +18.7% |
| Renovation | 8.9 | 9.1 | 29.0 | 29.1 | -0.3% |
| Intermediated business* | 4.6 | 3.9 | 14.6 | 12.4 | +17.7% |
| General Contractor* | 4.3 | 5.2 | 14.5 | 16.7 | -13.2% |
| Real Estate Development | 21.2 | 27.7 | 55.0 | 68.6 | -19.8% |
| Land Development | 4.9 | 3.2 | 12.0 | 11.0 | +9.1% |
| Services | 0.3 | 0.2 | 0.8 | 0.5 | +36.7% |
* The "Intermediated" renovation business is run through the Illico Travaux and Camif Habitat franchise networks. The "General Contractor" renovation business is now carried out exclusively by the Home Building branch network.
Production: 9.1% growth in Q3 2026
Hexaom posted revenue of €149.1 million in Q3 2026, up 9.2% compared with the same period last year.
Revenue over nine months stood at €492.8 million, an increase of 11.3%. On a like-for-like basis (excluding the business generated in January 2026 by the HDV sub-group, which was acquired at the end of January 2025), revenue increased by 10.6%.
Production for the first nine months of 2026 is broken down into business segments as follows:
Production in the Home Building business grew by 18.7% to €396.0 million. This growth was driven by a positive trend in order intake in late 2024 and throughout 2025, which led to a steady ramp-up in home production. On a like-for-like basis, growth stood at 17.8% compared with the same period in 2025.
The Renovation business posted revenue of €29.0 million, a slight fall of 0.3% compared with the same period in 2025. The change was due to a fall in the "General Contractor" business, while the "Intermediated" business continued to grow strongly.
Production from the "General Contractor" business, resulting from the progress of renovation contracts marketed by the Home Building brands and the remaining Camif Habitat order intake, amounted to €14.5 million, compared with €16.7 million in 2025.
The "Intermediated" business continued to show momentum. Its revenue - comprising commissions received through the Illico Travaux, Camif Habitat and Rénovert franchise networks - amounted to €14.6 million, up 17.5% compared with last year.
The Real Estate Development business generated revenue of €55.0 million, compared with €68.6 million in 2025. This trend can be attributed primarily to an unfavourable base effect (the delivery in 2025 of a school with a total value of €73.8 million), but also to a delay in the production schedule for certain projects, mainly due to longer than expected delays in obtaining approvals from social housing providers. These projects are, however, still ongoing and will contribute to business performance in the coming financial years.
Land Development posted revenue of €12.0 million, up by 9.1% compared with last year.
Finally, the Services business continued to grow, with revenue of €0.8 million.
Business performance in Q3 quarter impacted by deteriorating economic conditions
Home Building
Following a satisfactory first half of the year - and despite a more challenging basis for comparison - the worsening economic and social climate (inflation, oil prices, interest rates, etc.) weighed on household confidence and their ability to borrow.
Cumulative order intake at the end of September stood at 3,284 homes, representing revenue of €522.6 million, down 10.2% in volume and 7.7% in value. The average selling price stabilised at €159,100 excluding VAT.
Nonetheless, the trend in cumulative order intake remains broadly in line with group forecasts, which had anticipated a tightening of the market in 2026.
Against this backdrop, Hexaom is capitalising on its leading position and the quality of its offering to gain market share, whilst strengthening the support services it provides to prospective buyers to help them finance their projects.
Renovation
The "General Contractor" business, now driven entirely by the Home Building brand network, generated revenue of €11.6 million, compared with €18.3 million last year. The change was mainly due to the transfer of the Camif Habitat business to the franchise.
The "Intermediated" business continued to show strong growth. New orders totalled €161.1 million, up 24.6% compared with the same period in 2025.
Real Estate Development
This business has also been affected by the current economic climate, however the group has benefited from the selective nature of its commercial offering and thus had a solid order book of €176.4 million as at 30 September 2026.
Potential inventory for delivery, including programmes where a preliminary land deal has been signed, represented revenue of €439.3 million, or 1,819 homes.
Cumulative net orders stood at €108.8 million excluding VAT as at 30 September 2026, compared with €67.6 million excluding VAT in September 2025.
Hexaom continues to pursue a very cautious growth strategy in this area, with a more selective approach and low-risk commitments.
Land Development
The order book (unreserved inventory) for the Land Development business stood at €16.4 million, representing 194 lots.
Cumulative net reservations for 2026 amounted to €12.4 million excluding VAT, compared with 12.2 million in 2025.
The group continues to apply a cautious approach to land commitments and marketing for this segment.
Revenue and profitability on the rise in 2026
Given the visibility provided by its order book and the current pace of new-build starts, and taking into account the production delays associated with certain Real Estate Development projects, Hexaom forecasts revenue growth of between 15% and 17% for 2026, with an operating margin in excess of 5%.
Hexaom: a strong group and a market leader
Given the deteriorating economic climate, which is expected to persist at least until the next elections in France, the group recognises the full importance of having maintained a highly prudent approach to the management of its organisation and rigorous cost control.
Over the coming months, order intake for 2025/2026 in the Home Building division, together with the expansion of the group's diversification activities, will ensure a satisfactory level of business.
Furthermore, the group will draw on an organisational structure designed for a market at the bottom of the cycle, the variability of its costs and the strength of its fundamentals.
Hexaom is staying on course and organising its priorities around the four key areas already set out:
- Improving its operational profitability across all its business lines.
- Increasing the contribution from its diversification efforts to operating income.
- Expanding its market share by capitalising on its leading positions, the density of its sales networks, the recognition of its brands and the diversity and quality of its product range.
- Making demand financially viable through innovation and by exploring funding solutions tailored to its various customer segments.
The group's confidence is based on the resilience of its business model and on the fact that there remains a very high structural demand for housing. Housing is one of the main concerns for households hoping to buy their own home, renovate or improve their living environment. With its comprehensive range of services and nationwide presence across France, Hexaom has the resources to meet these expectations.
Next release: 2026 Q4 Revenue, 10 February 2027, after market close.
ABOUT THE GROUP
Since 1919, five generations of the same family have succeeded each other at the helm of Hexaom, a group that drives and federates an ecosystem of 50 brands with complementary expertise. A unique entrepreneurial and family history that points to its stability despite the complexity of the housing sector.
Hexaom is a leader in the home building, renovation and first-time owners' markets in France. It serves more than 15,000 customers a year, has built more than 125000 houses, renovated more than 100,000, employs nearly 1,400 people, and posted revenue of €616,2 million in 2025.
Hexaom is listed on Euronext Growth Paris.
Hexaom securities are eligible for inclusion in company retirement savings plans.
ISIN Code: FR 0004159473 - Listed as ALHEX
CONTACTS
HEXAOM
Loic Vandromme Amalia Naveira
Chief Executive Officer Analyst/Investor/Press Relations
Tel: + 33 2 33 80 66 61 Tel: + 33 6 31 35 99 50
E-mail: secretariat.direction@hexaom.fr E-mail: comfi@hexaom.fr
Jean-Christophe Godet
Chief Financial Officer
Tel: + 33 2 33 80 66 61
E-mail: finances@hexaom.fr
GLOSSARY:
Gross order intake: a contract is recorded in the gross order intake as soon as it is signed by the customer and accepted by our sales administration department (administrative control of the documents and validity of the financing plan, site inspection, verification, and acceptance of the selling price). The amount recorded corresponds to the revenue excluding taxes to be generated by the contract.
Backlog (real estate development): represents the group's already secured future revenue, expressed in euros, for its real estate development business. The backlog includes reservations for which notarial deeds of sale have not yet been signed and the portion of revenue remaining to be generated on units for which notarial deeds of sale have already been signed (portion remaining to be built).
Order book (land development): represents recorded land orders that have not been canceled and for which notarial deeds of sale have not yet been signed.
Production in progress: all orders for which the conditions precedent to begin work have been met (building permit and client financing obtained, client ownership of the land) and which have not been accepted by the client (delivered)
Change in like-for-like revenue: changes in revenue for the periods under comparison, recalculated as follows:
- in the event of an acquisition, revenue from the acquired company is deducted from the current period if it was not part of the group during the previous period,
- in the event of a sale, the revenue of the divested company that is no longer part of the group during the current period is deducted from the comparison period.
Net contribution margin: corresponds to the difference between the revenue generated by contracts and the costs directly related to these contracts (construction costs, sales or broker commissions, taxes, insurance, etc.).
Current operating income: intended to present the group's operating performance excluding the impact of non-recurring operations and events during the period.
Cash position: includes cash on hand and demand deposits.
Debt: includes all current and non-current financial liabilities except leases according to the restatement of IFRS 16.
Net cash: cash position less debt.
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