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2016 Annual Results

2016 Annual Results

The 2016 results continued to benefit from the strong growth dynamics initiated in 2014. For the third consecutive year, the group’s indicators for sales and property development have risen. Housing orders have thus increased, in both volume and value. The growth in volume was driven by favorable market conditions for first-time buyers (+33.4%), as well as investors (+58.4%). The significant increases in the land reserve (+28.2%) and backlog (+25.1%) attest to our ability to maintain the solid dynamics of our commercial offer. Orders for commercial property increased significantly, to more than €274 million, with sustained activity in work and new constructions across the country. At the beginning of 2017, the market for new housing remains buoyant. It is driven by attractive, well-balanced incentives available to investors as well as first-time home buyers. It is also boosted by the still-low interest rates, which may however not exclude a gradual recovery in the course of the year. All of these factors tend to suggest that the year’s market will at least be equivalent to that of 2016 – therefore exceeding 120,000 housing units. In that context, Kaufman & Broad’s outlook for 2017 remains favorable. Revenues should increase by 8 to 10%, gross margin and adjusted EBIT should remain around 19% and 8.5% respectively, while net financial debt should remain around €100 million.

Nordine Hachemi

Chairman and Chief Executive Officer

KPI

Revenues

(in € millions)

Revenues

Net Financial Debt

(in € millions)

Net Financial Debt

Working capital Requirement

(in € millions and as a percentage of revenues)

Working capital Requirement

Adjusted EBIT

(in € millions)

Adjusted EBIT

Free cash flow

(in € millions)

Free cash flow

Financial Capacity

(in € millions)

Financial Capacity

Breakdown of capital

(at November 30, 2016)

Breakdown of capital

Voting rights

(at November 30, 2016)

Voting rights

Trading data 2016

Share data (in euros)

High

€ 38,80

Low

€ 27,40

As of december 31, 2016

€ 27,80

Shares outstanding as of december 31, 2016

20.839.037

Market capitalization as of december 31, 2016 (in euro millions)

€ millions 704.4

Average daily trading volume (from january 1 to december 31, 2016)

€ 230.802

Share data

Stock Exchange NYSE Euronext

Compartiment B Mid-caps

Indices CAC 40 et CAC ALL TRADABLE

ISIN code

FR 000 4007813