STRONG CONTRIBUTION FROM NEW ACTIVITIES: €278.1 million
RECORD ORDER INTAKE
|Consolidated (€M) |
|4th quarter||12 months |
(January 1st to December 31st)
|2021||2020||% Change||2021||2020||% Change|
|Real Estate Development||28.2||13.8||+104.3%||67.0||23.6||+183.9%|
Very good annual performance from all businesses despite a difficult context
For the fourth quarter of 2021, Hexaom posted revenue of €289.2 million, up +6.5% (+1.5% like-for-like) compared to the same period last year. This level of production remains strong but was heavily impacted by longer delivery times due to supply chain disruptions affecting everyone in the building industry.
In this complex environment still affected by the lingering effects of the health crisis, Hexaom posted very good performance. Revenue for 2021 is just shy of €1 billion, at €996.6 million, up +13.0% compared with 2020 (+9.7% like-for-like). This growth was driven by all the company's businesses:
- The Home Building business posted revenue of €718.5 million, representing annual organic growth of +3.5%.
- The Renovation business made a significant contribution to top-line growth with annual revenue of €181.7 million, up +18.5%. Revenue from B2B renovation amounted to €132.5 million, up +18.7%. B2C renovation confirmed its excellent outlook with a +18.3% increase in revenue to €49.2 million.
- The new Land and Real Estate Development businesses are growing strongly as expected and contributed €96.4 million to the group's annual revenue. Land development revenue increased by +172.2% to €29.4 million (+148.8% like-for-like). Real estate development was up +183.9% to €67.0 million (+72.0% like-for-like).
Excellent sales momentum with record sales exceeding €1 billion in the Home Building business
Home Building Business
For the Home Building business, momentum remained strong in the last quarter with sales up +13% in value and +3.2% in number, despite steep price hikes to cope with rising construction costs (materials and subcontracting) and changes in regulatory standards (RE 2020).
Over the year as a whole, the Home Building business posted excellent sales performance. Hexaom signed a record 8,578 new orders over 12 months, representing revenue of €1,153.6 million, an increase of +29.2% in value and +21.2% in number. The average annual selling price increased to €134,500 (excluding tax).
The B2C business is also benefiting from positive trends. Over 12 months, Renovert and Camif Habitat's order intake reached €49.1 million, up +22.3%. Revenue from the intermediated business Illico Travaux increased by +74% to €60.7 million.
This business continues to benefit from both the expansion of its network and a large number of transactions involving existing properties.
As announced, B2B renovation has seen an expected -38.2% decline in order intake to €98.6 million, in order to temporarily limit growth and focus on improving margins.
Real Estate and Land Development Businesses
Land Development is continuing to grow at a sustained pace and has an order book (reserved stock not yet signed) of €37.5 million at the end of December 2021, representing 559 lots.
The Real Estate Development business also has very a promising outlook for growth. At December 31st, 2021, the backlog amounted to €88.6 million and the total potential stock represents revenue to be delivered of €369.6 million, or 1,806 units.
Strong sales that should result in a successful 2022 for Hexaom
Thanks to excellent sales performance in 2021 and despite longer construction delays, production is expected to grow again in 2022. However, the company remains vigilant about maintaining its margins as material prices continue to rise and the new 2020 Environmental Regulations come into force.
Next press release: 2021 Earnings Report, March 23rd, 2022, after trading
Next information meeting, March 24th, 2022, at 10:00 am. The format of the meeting (in person or webcast) will be communicated when the invitation is sent.
ABOUT THE GROUP
Since 1919, five generations of the same family have successively taken over the helm of Hexaom, a group that drives and federates an ecosystem of 46 brands and subsidiaries with complementary expertise. A unique story of family entrepreneurship characterized by its stability in a complex market sector.
The group, leader in the home building, renovation, and first-time owners' markets in France currently serves more than 10,000 customers a year, has built more than 100,000, has carried out over 75,000 renovations, employs more than 2,100 people, and recorded revenue of €996.6 million in 2021.
HEXAOM equities are eligible for PEA-PME equity savings plan.
HEXAOM is listed on Euronext Paris - Compartment B.
Chairman and Chief Executive Officer
Tel: 02 33 80 66 61
E-mail [email protected]
Tel: 06 31 35 99 50
E-mail: [email protected]
|Jean-Christophe Godet |
Chief Financial Officer
Tel: 02 33 80 66 61
E-mail [email protected]
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.
B2B (business to business): refers to transactions conducted between two companies.
B2C (business to consumer): refers to transactions conducted between the company and consumers.
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.).
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.