Commercial recovery confirmed
12.7% increase in sales at the end of October
|3rd quarter sales||80.3||107.1|
* non audited
Turnover in line with expectations
As expected, production on 30 September 2009 experienced the effects of market deterioration (15% fall in orders in 2008, distinct increase in cancellation rates and longer delays in starting work on sites).
Taking the existing delay between signature of a contract and starting work (average interval about 9 months), production in this quarter was particularly affected by the poor sales conditions in the last quarter of 2008 (average drop of 40%).
For the first 9 first months, the Group's turnover was 295 M¤ equal to a drop of 21.5% (-24% at constant scope).
For the whole financial year, Maisons France Confort confirms the expected trends. The fall in turnover should stabilise at about 23% and profitability will remain largely positive, around 4%.
The Group's financial structure remains very robust with largely positive cash net of debt. Strengthened by this financial solidity, in 2010 Maisons France Confort should again be able to initiate an active external growth policy. The Group will target companies that have been able to face up to the crisis and their acquisition will be done mainly via the regional subsidiaries.
Organic growth assured for 2010
The Group confirms a distinct upturn in order intake (+40% in September and +50% in October). Cumulative order intake at the end of October 2009 was thus 5,158, an increase of 12.7% in volume and 7.5% in value compared to last year. The expected development of order intake at the end of the year and the progressive return of normal cancellation rates allow the Group to predict certain organic growth in 2010.
A proven ability to conquer market share
Through its positioning and an enhanced product range that responds perfectly to each customer profile: first and second time buyers, older buyers, rented housing, industrialised housing, bio-climatic... Maisons France Confort continues to outperform the market.
The Group has also introduced innovative solutions that perfectly integrate tomorrow's energy challenges and future thermal regulations, notably with the Maisons Performances range that has three energy packs allowing LCB (Low Consumption Building) equivalent performance levels and the acquisition of a house complying with 2012 (LCB) thermal regulations for less than 100,000 ¤.
Through its ability to anticipate and innovate, Maisons France Confort finds itself perfectly positioned to win market share and respond to the changes that sector professionals must face in the coming months.
Strengthened by these assets and through rigorous management that allows the Group to use the resources for its ambition, Maisons France Confort approaches 2010 with serenity and confidence and will be able to seize the growth opportunities that will be presented to it.
Next press release: 2009 Sales, on 11 February 2010, after stock exchange.
About Maisons France Confort:
Founded in 1919, Maisons France Confort is the oldest builder of single-family homes in France and the second largest builder of single-family homes on individual plots. The Group operates in 19 regions in France, with 253 sales offices and 45 model homes.
Staff size at 31 October 2009: 1,214 people.
Maisons France Confort is listed on the Euronext Paris- Compartment C.
ISIN Code: FR 0004159473 - Index: SBF 250, CAC Mid & Small 90
|MAISONS FRANCE CONFORT:||ACTUS:|
Chairman and Managing Director
Tel.: +33 (0)233 80 66 66
Finance & Administration Manager
Tel: +33 (0)233 80 66 66
Analyst/Investor/Press relations Relations
Tel.: +33 (0)472 18 04 90
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|MAISONS FRA CONF||Euronext Paris||58.00 (c)||-1.28%||5 655|