Backed by its French home construction leadership position, today's No. 1 in BtoC renovation and its BtoB expertise, the MAISONS FRANCE CONFORT Group announced its joining forces with 3 real estate development professionals in view of creating the HIBANA company in the Ile de France, thereby confirming its diversification objectives.
IBANA's target over the next 5 years is to build some 500 homes per annum, i.e. a turnover to the tune of €100M.
A partnership boasting a wealth of expertise
HIBANA will benefit from the experience of the MAISONS FRANCE CONFORT Group and three leading professionals: Pierre SOREL (52 years of age), Chairman, Céline LE BRETON (aged 47) and Antoine GAZENGEL (37 years of age), Managing Partners, who have gained 25, 23 and 13 years of experience respectively, with key responsibilities in leading real estate development groups.
HIBANA is 51% owned by the MAISONS FRANCE CONFORT Group and 49% by the 3 founding partners.
The association of a Group with a solid reputation and 3 leading professionals will be a source of synergy and allow HIBANA to rely on the financial solidity of MAISONS FRANCE CONFORT and its ability to bring the equity capital necessary to its development.
Approaching residential housing differently
The MAISONS FRANCE CONFORT Group was won over by a differentiating project in synch with the market's expectations. HIBANA, born of the idea that the profession must evolve, is looking to bring to each project a new and varied expertise, aimed at the core actors and immersed in the local community, to meet the expectations of its clients and the needs of the “City”.
It is for this reason that the ambition of HIBANA is to produce a majority of houses destined for home ownership (first-time and second-time home buyers).
In this way, the expectations of buyers can be met along with those of the communities initiating important calls for projects and this through a unique approach to the product and its use.
Sales target of €100M by 2023
Considering the development timelines of real estate programs (up to 36 months between real estate sourcing and delivery), HIBANA's growth must be gradual.
Nevertheless, the Group is looking towards some 500 reservations per year in Ile de France within 5 years.
Should this new activity impact the Group's indebtedness, it will participate in improving its consolidated profitability over time.
Next press release: 2nd quarter 2018 sales, on 6 August 2018, after stock exchange closing.
ABOUT MAISONS FRANCE CONFORT:
Founded in 1919, MAISONS FRANCE CONFORT is the oldest builder of single-family homes in France and the largest builder of single-family homes on individual plots. Already leader in the house construction, MAISONS FRANCE CONFORT became in 2015 the French No. 1 in house renovation. The Group operates in all 12 regions in France, with more than 375 sales offices. In 2017, MAISONS FRANCE CONFORT achieved sales of €764.4M.
Staff at 31 March 2017: 1,971 people.
MAISONS France CONFORT equities are eligible for PEA-PME equity savings plan.
MAISONS FRANCE CONFORT is listed on the Euronext Paris - Compartment B.
ISIN Number: FR 0004159473 - Index: CACÒ Small, CACÒ Mid & Small, CACÒ All-Tradable, CACÒ All-Share
Financial site: www.groupe-mfc.com
MAISONS FRANCE CONFORT
Chairman and Managing Director
Tel +33 (0)2 33 80 66 61
Tel +33 (0)4 72 18 04 90
|Jean-Christophe Godet |
Finance & Administration Manager
Tel +33 (0)2 33 80 66 61
|Marie Claude Triquet |
Tel +33 (0)4 72 18 04 93
Tel +33 (0)6 37 55 92 81