Sales for the first 9 months matching annual objectives
Sales activity resistant in a still difficult context
|Consolidated (¤M) - non audited||30.09.2013||30.09.2012||Variation|
Sales for the first 9 months in line with annual objectives
The Groupe MAISONS FRANCE CONFORT sales for the first 9 months of the 2013 financial year was ¤380.4M, a fall of 8.3%, and 11.8% for a constant perimeter.
This drop in activity following the fall in order intake in 2012 matches the stated forecasts for the whole year. The third quarter of 2013 at ¤114.0 M, a drop of 2.9%, benefits, like the second quarter of 2013 from an inflection in the trend and a more favourable base effect.
At the end of September 2013 the order book was 4,131 sales and represents a turnover of ¤445.0M ex tax., a fall of 11.4% in number and 4.5% in value.
After a first quarter of 2013 affected by the introduction of the new RT 2012 and by particularly unfavourable weather, the 2nd and 3rd quarters demonstrated good resistance in economic conditions that are still very difficult. So order intake for the 3rd quarter came out at a fall of 8.9% in number and 2.7% in value compared to the same period of last year.
To analyse sales activity it is necessary to note the very unfavourable basic effect related to a rise in sales in November 2012 due to customers anticipating the end of RT 2005 and the introduction of RT 2012.
The Group therefore anticipates a fall in the value of the 2013 order book of about 5%.
For the whole 2013 accounting period, taking completed production and current construction into account, Groupe MAISONS FRANCE CONFORT confirms its objective of achieving a turnover reduced by 7 to 9% with satisfactory profitability, an increase relative to the 1st half of 2013.
Solid fundamentals and more favourable trends expected in 2015
Strengthened by its leadership, MAISONS FRANCE CONFORT has solid fundamentals that allow it to resist less favourable market conditions.
Current order intake allows the Group to have good visibility for the next 9 months. Taking into account order intake extrapolated to the end of 2013, the Group Sales for 2014 could fall by 5% with constant cancellation rates (stable for two years). Production in 2014 will also be favourably affected by the increasing renovation activity and by any external growth operations.
In addition, the Group's financial solidity and a business model largely proven in the past permit MAISONS FRANCE CONFORT to prepare for short and medium term market changes with a land search service for its customers, property broker status to support then in their financing procedures, and the development of a grouped product range linked to communes or partners. So the Group is confident of its ability to return to growth in its activity and normal results from 2015 with market resurgence.
Next press release: 2013 Sales, on 5 February 2014 after stock exchange closing.
ABOUT MAISONS FRANCE CONFORT:
Founded in 1919, MAISONS FRANCE CONFORT is the oldest builder of single-family homes in France and the largest builder of single-family homes on individual plots. The Group operates in 20 regions in France, with 340 sales offices and 50 model homes.
Staff at 30 September 2013: 1,444 people.
MAISONS FRANCE CONFORT is listed on the Euronext Paris - Compartment B.
ISIN Number: FR 0004159473 - Index: CAC® Small, CAC® Mid & Small, CAC® All-Tradable, CAC® All-Share
Commercial site: www.maisons-france-confort.com - Financial site: www.groupe-mfc.com
MAISONS FRANCE CONFORT
Chairman and Managing Director
Tel. +33 (0)2 33 80 66 61
Finance & Administration Manager
Tel. +33 (0)2 33 80 66 61
Tel. +33 (0)4 72 18 04 90
Marie Claude Triquet
Tel. +33 (0)4 72 18 04 93
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