Hexaom (ALHEX) Trading Update summary

Revenue and business performance

• 2024 revenue reached €727.2 million, a 29% decrease year-on-year, aligning with forecasts.

• Home Building revenue fell 31.5% to €599.5 million, reflecting ongoing real estate market challenges.

• Renovation/Extension revenue declined 16.4% to €45.4 million, while intermediated renovation business grew 60.7% to €13.5 million.

• Real Estate Development revenue edged up 2.7% to €71.0 million; Land Development revenue was €11.3 million.

Profitability and outlook

• Operating profitability target of approximately 3% of annual revenue reaffirmed for 2024.

• Non-recurring costs linked to structural adaptation factored into profitability guidance.

• 2025 expected to see a more moderate revenue decline and maintained profitability, supported by diversification and a more favorable market base.

Order intake and backlog

• Q4 2024 saw improved order intake, with Home Building sales up 18.2% year-on-year and December up 32.2%.

• Full-year Home Building orders totaled 2,959 homes (€484.5 million), down 12.2% from 2023.

• Intermediated renovation orders rose 40.2% to €145.6 million; General Contractor orders declined due to strategic refocusing.

• Real Estate Development backlog at year-end was €113.9 million, with potential stock to deliver of €347.2 million (1,522 units).