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Key Data

Message from the Chairman

 

 

Nordine HACHEMI

In 2019, Kaufman & Broad continued to demonstrate its capacity to combine profi tability and cash flow in a less dynamic market.

The adjusted EBIT margin of 9.5% reflects solid operational management of sale prices and operating expenses. The result is a positive net cash position of €56.0 million, an increase of more than €32 million in shareholders’ equity and financing capacity of €458.1 million at end-November 2019.


The success of our economic model is based on the key points of our strategy: consolidating our position as a leader in regions outside of Paris, developing our local network and our Business Property network in Île-de-France and in other regions, and, above all, innovating to better serve our customers.


For more than 50 years, our group has been able to adapt our products to our customers, whether this requires innovating to listen to customers’ needs or innovating in the area of services, quality, or techniques. Kaufman & Broad is constantly striving to understand and keep up with market trends to better anticipate and satisfy our customers’ expectations.


For 2020, in the light of recent developments in the ongoing health crisis and its impact on general economic activity, Kaufman & Broad has decided to put the annual objectives announced at the end of January on hold. Kaufman & Broad will propose new objectives for 2020 as soon as the general situation allows for a relevant full-year forecast.


Kaufman & Broad fully assumes its responsibilities to our employees, whose health and safety is essential, but also to our customers, for whom continuity of service is maintained whenever possible, and to all of our suppliers, whose ability to weather this crisis is vital to restarting construction activity as soon as possible.


In this difficult period, the end of which is uncertain, and in addition to maintaining control over costs, working capital requirements and capital expenditures, Kaufman & Broad can rely on two fundamental factors:


1.  nil net debt, and therefore an extremely solid fi nancial structure as at February 29, 2020, characterised by:
• a high level of available and mobilizable cash of €412.5 million;
• average gross debt maturity of more than four years;
• consolidated shareholders’ equity of €308.8 million;

2. development indicators that give Kaufman & Broad visibility beyond the next few months;
• a global backlog that stands at €3.403 billion at February 29, 2020, and at €2.073 billion for the Housing business alone. As a reminder, backlog is a summary at any given point in time that makes it possible to estimate the remaining revenue to be recognized in the future. It should be noted that there is an element of uncertainty regarding the conversion of backlog into income, particularly for orders that have not yet been officially notarized or for projects that have not yet obtained final administrative authorization (i.e. approximately 40% for housing and 85% for commercial);
• a Housing property portfolio that reached an all-time high of 33,429 units at end-February 2020. The Housing property portfolio represents all the land for which a commitment (such as a contract for sale) has been signed.

Kaufman & Broad will continue to closely monitor developments in the health situation in the coming weeks and will inform the market of its impact on its operations as necessary.


The Board of Directors of Kaufman & Broad SA meeting on April 9, 2020, in light of the current health crisis context and recent declarations by the Government calling for restraint in the payment of dividends, decided to reduce the distribution proposal dividend to be paid for the year ended November 30, 2019 at the general meeting of shareholders on May 5, 2020 from € 2.50 per share to € 1.75 per share, a decrease of 30% per compared to the dividend initially proposed and the dividend paid in 2019 for the year ended November 30, 2018. Furthermore, only the possibility of receiving the dividend in cash will be offered.
The amount of the dividend not paid will make it possible to strengthen its support action, in particular for caregivers and the education of children. The employee shareholders, first shareholders of Kaufman & Broad S.A. with more than 15% of the capital, supported the decision to adjust the dividend.

On behalf of myself and the Board of Directors, I would like to thank you and all the group’s employees for your commitment and your trust.

Nordine Hachemi Chairman and Chief Executive Officer

 

Members of the corporate governance

Message from the Chairman

 

 

Nordine HACHEMI

In 2019, Kaufman & Broad continued to demonstrate its capacity to combine profi tability and cash flow in a less dynamic market.

The adjusted EBIT margin of 9.5% reflects solid operational management of sale prices and operating expenses. The result is a positive net cash position of €56.0 million, an increase of more than €32 million in shareholders’ equity and financing capacity of €458.1 million at end-November 2019.


The success of our economic model is based on the key points of our strategy: consolidating our position as a leader in regions outside of Paris, developing our local network and our Business Property network in Île-de-France and in other regions, and, above all, innovating to better serve our customers.


For more than 50 years, our group has been able to adapt our products to our customers, whether this requires innovating to listen to customers’ needs or innovating in the area of services, quality, or techniques. Kaufman & Broad is constantly striving to understand and keep up with market trends to better anticipate and satisfy our customers’ expectations.


For 2020, in the light of recent developments in the ongoing health crisis and its impact on general economic activity, Kaufman & Broad has decided to put the annual objectives announced at the end of January on hold. Kaufman & Broad will propose new objectives for 2020 as soon as the general situation allows for a relevant full-year forecast.


Kaufman & Broad fully assumes its responsibilities to our employees, whose health and safety is essential, but also to our customers, for whom continuity of service is maintained whenever possible, and to all of our suppliers, whose ability to weather this crisis is vital to restarting construction activity as soon as possible.


In this difficult period, the end of which is uncertain, and in addition to maintaining control over costs, working capital requirements and capital expenditures, Kaufman & Broad can rely on two fundamental factors:


1.  nil net debt, and therefore an extremely solid fi nancial structure as at February 29, 2020, characterised by:
• a high level of available and mobilizable cash of €412.5 million;
• average gross debt maturity of more than four years;
• consolidated shareholders’ equity of €308.8 million;

2. development indicators that give Kaufman & Broad visibility beyond the next few months;
• a global backlog that stands at €3.403 billion at February 29, 2020, and at €2.073 billion for the Housing business alone. As a reminder, backlog is a summary at any given point in time that makes it possible to estimate the remaining revenue to be recognized in the future. It should be noted that there is an element of uncertainty regarding the conversion of backlog into income, particularly for orders that have not yet been officially notarized or for projects that have not yet obtained final administrative authorization (i.e. approximately 40% for housing and 85% for commercial);
• a Housing property portfolio that reached an all-time high of 33,429 units at end-February 2020. The Housing property portfolio represents all the land for which a commitment (such as a contract for sale) has been signed.

Kaufman & Broad will continue to closely monitor developments in the health situation in the coming weeks and will inform the market of its impact on its operations as necessary.


The Board of Directors of Kaufman & Broad SA meeting on April 9, 2020, in light of the current health crisis context and recent declarations by the Government calling for restraint in the payment of dividends, decided to reduce the distribution proposal dividend to be paid for the year ended November 30, 2019 at the general meeting of shareholders on May 5, 2020 from € 2.50 per share to € 1.75 per share, a decrease of 30% per compared to the dividend initially proposed and the dividend paid in 2019 for the year ended November 30, 2018. Furthermore, only the possibility of receiving the dividend in cash will be offered.
The amount of the dividend not paid will make it possible to strengthen its support action, in particular for caregivers and the education of children. The employee shareholders, first shareholders of Kaufman & Broad S.A. with more than 15% of the capital, supported the decision to adjust the dividend.

On behalf of myself and the Board of Directors, I would like to thank you and all the group’s employees for your commitment and your trust.

Nordine Hachemi Chairman and Chief Executive Officer

 

Members of the corporate governance

Trading data 2019

High

€38,02
Low €20,23
As of decembre 31, 2019 €37,00
Shares outstanding as of november 11, 2019 22 088 023
Market capitalization as of decembre 31, 2019 (in euro millions) €817,3 M
Average daily trading volume (from january 1 to decembre 31, 2019 to december 31, 2019) 77 313 share (all platforms conbined)

 

Trading data 2019

High

€38,02
Low €20,23
As of decembre 31, 2019 €37,00
Shares outstanding as of november 11, 2019 22 088 023
Market capitalization as of decembre 31, 2019 (in euro millions) €817,3 M
Average daily trading volume (from january 1 to decembre 31, 2019 to december 31, 2019) 77 313 share (all platforms conbined)

 

Share data

Listing market - NYSE Euronext
Compartment B Mid-caps
CAC 40 and CAC ALL TRADABLE indexes
ISIN Code: FR 000 4007813

Share data

Listing market - NYSE Euronext
Compartment B Mid-caps
CAC 40 and CAC ALL TRADABLE indexes
ISIN Code: FR 000 4007813

Key figures and stock market data 

Key figures and stock market data

 

 
 

Key figures and stock market data 

Key figures and stock market data

 

 
 

Agenda

alarm 01.10 2020

Publication of results for the first nine months 2020 (after market close)

alarm 02.10 2020

Presentation of results for the first nine months of 2020 (conf call)

Agenda

alarm 01.10 2020

Publication of results for the first nine months 2020 (after market close)

alarm 02.10 2020

Presentation of results for the first nine months of 2020 (conf call)