Nexity revenue falls 17% over nine months, company maintains annual earnings outlook
Key Facts
French property company Nexity's revenue fell 17% in the first nine months of 2026, according to its official business update through the end of September. Total revenue stood at 1,611 million euros, compared with 1,934 million in the corresponding period of 2025. In the third quarter alone, the company reported revenue of 548 million euros, compared with 633 million a year earlier. Nexity maintained its forecast for an improvement in full-year recurring operating profit despite the decline in quarterly and year-to-date revenue. The company made that outlook conditional on no further significant deterioration in market conditions as it continues to adapt to weak activity.
The decline extended to residential activity in France, where reservations fell to 5,394 units in the first nine months of the year, according to the company's statement. Comparable reservations stood at 6,536 units in the same period of 2025, on Nexity's adjusted comparison basis. Residential reservation volumes therefore fell 17%, while reservations from retail buyers recorded a less pronounced decline over the same period. Retail reservations totalled 3,094, down 10% year-on-year by volume, according to the business update. The company attributed weak demand among homebuyers to "high interest rates and declining purchasing power," according to its investor presentation.
By business segment, planning and development revenue fell to 1,295 million euros in the first nine months of 2026, according to the official disclosure. That compared with 1,620 million euros in the corresponding period a year earlier, a decline of 20%. Meanwhile, operated real estate revenue rose 2% to 232 million euros, compared with 226 million a year earlier. Within its operating businesses, occupancy at Studéa student residences reached 97% at mature sites, according to the investor presentation covering activity through September. Occupancy at mature coworking sites stood at 83%, among the businesses the company is counting on to help improve profitability.
Nexity had started the year with housing reservations rising to 1,449 in the first quarter, according to its business update for that period. That represented growth of 1% compared with the first quarter of 2025. First-quarter revenue, however, fell to 518 million euros from 590 million in the comparable period, a decline of 12%. On profitability, the company had doubled its first-half recurring operating profit to 12 million euros, compared with 6 million a year earlier. The first-half figures were reported in Investing.com's coverage of the company's results published on 23 July 2026.
Nexity's backlog stood at 3.5 billion euros at the end of September 2026, according to its official investor presentation. The presales rate for projects launched during the first nine months of the year reached 73%. Also, 92% of units offered for sale were concentrated in areas facing supply shortages, according to the same presentation. On financing, the company's credit facility amounts to 625 million euros, according to the business update. The facility matures in February 2028.
Nexity's profitability improvement plan includes restoring margins and delivering targeted savings of 100 million euros by the end of 2026, according to the investor presentation. The company is reviewing its organisation, brand portfolio and overhead costs to adapt to continued market weakness. On partnerships, Nexity signed the framework agreement with Groupe BPCE on 17 October, according to the timeline in the presentation. The partnership is scheduled to take effect in December, during the final quarter of 2026. The company will announce its annual results for 2026 on 24 February 2027 after the market closes.