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Rising Profits for Kaufman & Broad in 2023

In 2023, Kaufman & Broad shows a significant increase in its profits.

| Updated on 02-02-2024 19:58 | Published on 01-02-2024 10:36 

During the 2023 fiscal year, Kaufman & Broad recorded a 22.7% increase in its net income. The solidity of its financial structure is notably illustrated by a positive net cash position of €180.5M and a financial capacity of €600.0M. A dividend of €2.4 per share was proposed.

According to the statement, despite a 14.2% drop in housing reservations, the group managed to adapt to market conditions. It relies on a strong land reserve and a global backlog of €2.7 billion, equivalent to 2 years of activity. The company's real estate branch also performed well, especially with the launch of the A7/A8 operation in Austerlitz and the filing of a building permit for a future regional EDF headquarters in Marseille (30,000 m2).

These good performances were achieved despite a sector crisis due notably to a rise in land costs. According to the group, the solid financial structure of the group allows it to be in a favorable position to take part in the recovery on a sanitized market.

For the 2024 fiscal year, Kaufman & Broad forecasts a turnover of around €1.1 billion. The group is expected to maintain an operating income of between 7% and 7.5% and remain in a positive net cash position after paying a €48M dividend for the 2023 fiscal year.

Assurance Vie