Nexity (NXI) Q3 2025 TU earnings summary

Executive summary

• Business activity improved in Q3 2025, with homebuyer reservations up 26% year-over-year and now 28% of the sales mix, offsetting a 45% drop in individual investor reservations due to the end of the Pinel scheme.

• Over 7,000 residential reservations were made in 9M 2025, confirming strong homebuyer and bulk sales momentum.

• A new executive committee was established to support profitable growth and adapt to evolving market needs.

• The company increased its stake in Angelotti from 55% to 80%, with a commitment to reach 100% by August 2026.

• The Accessite subsidiary sale and property management disposals were finalized in October 2025.

Financial highlights

• 9M 2025 revenue was €1,932m, down 17% year-over-year, mainly due to a sharp decline in Commercial Real Estate (-88%) and asset disposals.

• Residential Real Estate revenue fell 5% to €1,576m; Serviced Properties revenue grew 13% to €226m, driven by portfolio expansion and high occupancy.

• Services segment overall increased 3% year-over-year.

• Total reservations in France reached 7,106 lots (down 12% year-over-year), valued at €1,515m (down 13%).

• Backlog for Residential Real Estate stood at €3.84bn, representing 1.5 years of activity.

Outlook and guidance

• 2025 guidance confirmed: return to operating profitability and net IFRS debt below €380m, including the Angelotti transaction, assuming no macroeconomic deterioration.

• Financial data will be reported solely under IFRS from January 2025.