2020 Q3 revenue

Financial press release

2020 Q3 revenue

Financial press release

05 November 2020

2020 Q3 REVENUE: +15.3% to €211.5 MILLION

Consolidated (€M)
9 months
3rd quarter
% Change
% Change
Revenue 610.2 601.4 +1.5% 211.5 183.5 +15.3%
of which home building 499.9 506.8 -1.4% 163.8 147.7 +10.9%
of which Renovation 94.6 92.1 +2.7% 43.6 35.2 +23.7%
of which Other

(land development & real estate development)

15.7 2.5 +532.3% 4.1 0.5 +583.3%

15.3% increase in production in Q3 2020

Group Hexaom’s revenue experienced a strong catch-up effect with an increase of +15.3% in the third quarter of 2020 to €211.5 million, demonstrating the resilience of the group’s model with regards to the particularly difficult economic and health conditions the market faced during the first part of the year. In the first nine months of the 2020 fiscal year, Hexaom’s revenue rose to €610.2 million (+1.5%).

The home building activity grew in the third quarter (+11%). This recovery allowed the group to achieve a production level close to the one reached at the end of September 2019, despite continued delays in construction site openings due to lockdown measures in effect during the first half of the year.

As expected, after a first half-year strongly impacted by the pandemic, the renovation activity registered a strong recovery this quarter, increasing by 23.7% and achieving strong growth momentum, particularly in the B2B sector.

Other activities, namely land development and real estate development, continue their rapid growth.

This overall healthy performance illustrates the soundness of the diversification strategy launched by the group several years ago.

Sustained business momentum in the third quarter

In line with the significant increase in sales leads observed at the end of the lockdown period, Hexaom saw a substantial increase in order intakes for the home building activity. Orders were up by +13.7% in value (+12.4% in volume) compared to the same period in the previous fiscal year. While this strong performance doesn’t completely absorb the drop in orders in the second quarter of 2020 compared to the same period in 2019, due to lockdown and an unfavourable base effect (activity in the second quarter of 2019 substantially benefited from the marketing campaigns implemented as part of the group’s centenary celebrations), it does however limit the  drop in cumulative order intakes over nine months to -7.7% in value (-11.2% in volume) for the home building activity. At September 30th, 2020, the Hexaom Group had made 5,037 sales, representing revenue of €630 million.

In the renovation activity, sales at nine months were up +10.2% at €140.4 million, still led by the B2B segment whose order intake grew +25.4% over that period.

Confirmation of revenue growth and improved profitability in the second half of the year

Considering the strong growth dynamic in the group’s diversification sectors, the high level of the order book and the authorization to continue activity in the construction industry as part of the implementation of the new lockdown measures, Hexaom reaffirms its expectation of a sustained overall production level for the second half of 2020.

However, the group is closely monitoring work site opening levels in the home building activity. This activity remains strongly impacted by the longer administrative delays experienced since the beginning of the pandemic and the increase in cancellation rates that will undoubtedly affect production in the fourth quarter of 2020. The impact will be partially compensated by shorter construction periods.

Consequently, the group expects revenue and profitability in the second half of 2020 to increase compared to the first half of 2020.

Bolstered by its substantial cash position, Hexaom will continue to seek out new opportunities in acquisitions to strengthen its status as a diversified global player in the nationwide housing market.

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