MAISONS FRANCE CONFORT

1st half year 2012 sales at EUR 297.2 M

Production remains sustained
Solid fundamentals

Turnover matching the Group's annual objectives

The 2012 1^st half Sales of Groupe MAISONS FRANCE CONFORT was €297.2 M, a reduction of 3.3%. For a constant perimeter activity was reduced by -4.3%.

This expected variation in production follows the drop in order intake recorded in 2011 (notably in the second half). Nevertheless 2012 remains sustained and ensures that the Group will maintain a good level of profitability.

A well positioned player in a disturbed market

The order book at the end of June 2012 reached 3,034 sales and represents a turnover of €306 M ex. tax, a reduction of 18.3% in number and 18.0% in value compared to 2011, for an average price of €101 K ex. tax. This change in sales, in line with the Group's expectations, is explained by:

• an unfavourable basic effect taking into account 2011 sales activity that was more sustained in the 1^st half (order intake in the H2 2011 down by 16% compared to H1 2011),

• a marked wait and see attitude among customers linked to the coming presidential and legislative elections to which was added a disturbed macro-economic environment.

Despite this context the volume of contacts and the footfall in sales agencies remains at high levels.

In this environment, MAISONS FRANCE CONFORT remains one of the best positioned players to take full profit from the inevitable concentration in its sector and so win new market share.

Increase in shareholding in Rénovert

After acquiring 39% of the capital of Rénovert in June 2010, MAISONS FRANCE CONFORT has just reinforced its share and will now hold 100% of the capital of this company.

This decision has the objective of developing a "renovation" product within the Group MAISONS FRANCE CONFORT to include both thermal renovation and all general renovation services. This product, which is a real growth relay will be done progressively across the country.

Furthermore, the Group remains attentive to any quality external growth that could reinforce its territorial coverage.

A business that is solidly equipped to resist less favourable market conditions

Strengthened by its leadership, MAISONS FRANCE CONFORT has solid fundamentals that allow it to resist less favourable market conditions:

• An diversified range responding to customers looking for a main residence;
• A buoyant market taking account of the structural housing deficit;
• A powerful sales network spread throughout the country;
• A real lead in innovations responding to new regulations (Maisons Performances and the Concept MFC 2020 positive energy house - www.concept-MFC-2020.fr).

New relays and growth themes:

• Turnkey solutions notably aimed at local authorities;
• Stronger control of land (selection and reservation);
• The development of a thermal and general renovation range.

This solidity and a business model largely proven in the past permit MAISONS FRANCE CONFORT to continue to gain market share, seize the growth opportunities that will present themselves and prepare for medium term market developments.

Next press release: 1^st half year 2012 results, on 17 September 2012 after stock exchange.
Next meeting: on 18 September 2012 10:00 am - Hôtel Lotti, 7 rue de Castiglione, Paris 1.

ABOUT MAISONS FRANCE CONFORT

Founded in 1919, MAISONS FRANCE CONFORT is the oldest builder of single-family homes in France and one of the first two largest builder of single-family homes on individual plots. The Group operates in 20 regions in France, with 340 sales offices and 50 model homes.
Staff size at 30 June 2012: 1,433 people.

MAISONS FRANCE CONFORT is listed on the Euronext Paris - Compartment C.
ISIN Code: FR 0004159473 - Index: CAC® Small, CAC® Mid & Small, CAC® All-Tradable, CAC® All-Share

Commercial site: www.maisons-france-confort.com - Financial site: www.groupe-mfc.com