Nexity SA (FRA:NQ9)

€ 12.52 0.31 (2.54%) Market Cap: 709.21 Mil Enterprise Value: 2.36 Bil PE Ratio: 13.97 PB Ratio: 0.36 GF Score: 71/100

Half Year 2023 Nexity SA Earnings Call (English, French) Transcript

Jul 26, 2023 / 04:30PM GMT

Release Date Price: €18.18 (-0.82%)

Transcript

Operator

Good evening. Welcome to the half year results announcement for Nexity. (Operator Instructions) I will give the floor now to Madam VÃ©ronique BÃ©dague, who is the CEO of Nexity. Over to you, madam.

VÃ;ronique BÃ;dague;Hamilius

Nexity SA - CEO & Chairwoman

©©- -

In the months ahead, this means that we have to navigate tightly and think long term. You're well aware of the context sharp interest rates rise over the last 18 months. This is with effect -- reduced the affordability of some households. Individuals have lost almost 20% of their real estate purchasing power. Mortgages are more expensive. Our figures show that at the end of June, rates, on average, excluding insurance costs, stood at 3.45%, and probably soon to rise to 4% by the end of the year, whereas they were around 1% in early 2022. They are also much rarer. The production of real estate loans fell by almost 40% in the first half of the year compared with the same period last year with an acceleration in the second half compared to the second quarter

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