Nexity : Nexity : Q1 2013 revenue and business actvity

            Nexity : Nexity : Q1 2013 revenue and business actvity

Q1 2013 REVENUE AND BUSINESS ACTIVITY
Paris La Défense, Wednesday, 24 April 2013

New home  reservations stable  in  value terms,  lower sales  to  professional 
landlords

§ Q1 revenue stable at €587million
§ Residential: 2,041 net new home and subdivision reservations (-13% from  Q1 
2012), reservations steady in value terms at €359million incl. VAT
§ Commercial: order intake  not significant over  the quarter, annual  target 
confirmed
§ Backlog as of March 31: nearly €3billion (equivalent to 15months' revenue
from development activities^[1]), close to the backlog at year-end 2012

Outlook for 2013 confirmed

§ Residential:  around 9,000  net new  home reservations^[2]  in an  expected 
market of between 70,000 and 75,000 units
§ Commercial: order intake target of €350 million
§ Consolidated revenue for 2013 expected to exceed €2.6 billion
§ Current operating profit targeted for 2013 at over €180 million
§ Proposal to distribute a dividend of €2 per share in respect of 2012 at the
Shareholders' Meeting of 23 May 2013.  Based on its outlook, the company  will 
consider proposing to its shareholders the renewal of a €2 per share  dividend 
next year.

             Alain Dinin, Chairman and CEO of Nexity, commented:

"In Residential real estate, the stability of reservations in value terms
recorded by the Group in the first quarter should not be interpreted as a sign
of improvement in our outlook for the year: it is simply the automatic effect
of comparing with the unusual composition of sales recorded in the first
quarter of 2012 (during which sales to professional landlords represented 54%
of our new home sales). Our outlook remains unchanged. The latest measures
announced by the President of France on 21 March 2013 in the context of his
"emergency plan" for housing are indeed steps in the right direction. However,
unfortunately the majority of these measures cannot be expected to have
significant consequences in the short term. As we announced, housing starts
continue to decline. Consequently, we believe that new measures are needed
more than ever to revitalize the market for new homes, which has well-known
consequences for the economy as a whole (impact on GDP, employment in the
construction sector, VAT receipts, etc.). From this perspective, the initial
courses of action set out by the Berger-Lefebvre report on household savings,
with a view to encouraging institutional investors to reinvest for certain
life insurance policies, among other investment targets, in the intermediate
multi-family housing sector, are in our opinion insufficient given the scale
of the challenges facing the sector.

In commercial real estate, the decline in take-up in the first quarter
reflects the impact of economic uncertainty and the lack of expectation of
economic growth by market participants. We nevertheless maintain our objective
of doubling our order intake for the year in relation to last year.

While the initial economic indicators published confirm our expectation of a
very difficult year for the large majority of economic sectors in France, the
Group has the benefit of a solid financial structure which will help it get
through this crisis and seize market opportunities as they present themselves
that will contribute to its future performance."



                                     ***

Revenue

In the first quarter of 2013, Nexity recorded revenue of €586.5 million,
stable as compared to the first quarter of 2012.

As announced in the press release dated 19 February 2013, Iselection, which
was previously part of the Services and Distribution Networks division, became
part of the Residential real estate division from an organizational standpoint
at the start of the year. The revenue data presented below^[3] take into
account this reclassification and the data relating to 2012 are presented
according to the same classification in order to provide better comparability.
This reclassification has no impact on the recognition of reservations.

€ millions                          Q1 2013  Q1 2012  Change %
Residential real estate               364.1    396.8     -8.3%
Commercial real estate                114.0     81.8    +39.3%
Services and Distribution Networks    107.4    107.8     -0.4%
Other activities                        1.1      1.4    -22.6%
Total Group revenue*                  586.5    587.9     -0.2%

* Revenue generated by both the Residential (excluding Italy) and the
Commercial division is calculated using the percentage-of-completion method,
i.e. on the basis of notarized sales pro-rated to reflect the progress of
committed construction costs.

· Residential real estate revenue totalled €364.1 million, a decline
of 8% compared to the same period in 2012. This decrease is due in particular
to the lower volume of notarial deeds signed over the period and slower
progress on the Group's residential development projects in France.

· In Commercial real estate, quarterly revenue of €114.0 million
benefited from the high level of orders recorded in 2011. This total includes
substantial contributions from the Solstys (Rocher-Vienne) and T8 projects in
Paris.

· Revenue from Real estate services totalled €100.2 million, up 1%
compared to the first quarter of 2012. The additional revenue from the
consolidation of Icade Résidences Services since 1 April 2012 more than offset
the absence of revenue from the services businesses in Germany sold in 2012.
Revenue from the Distribution Networks business totalled €7.2 million, down
11%, suffering from the effects of lower transaction volume in the market for
existing property as the decline in provisional agreements recorded in the
last quarter of 2012 translated into fewer sales agreements in the first
quarter of 2013.

Business Activity in Q1 2013

Residential real estate

As anticipated by the Group, there were no signs of recovery in the French new
home market. The market began to become familiar with the new incentive
provision for buy-to-let investment implemented at the beginning of the year
(the "Duflot" scheme). As shown in the latest IFOP^[4] survey for the Journal
du Dimanche, there is still an interest in being a home buyer (91% of the
people surveyed believe that it is better to own than to rent their primary
residence). Potential home buyers nevertheless apparently remain influenced by
the widespread discussion in the media announcing an imminent drop in real
estate prices (42% of the people surveyed believe that real estate prices are
going to decline to some extent in the coming months), although such a decline
should only affect the market for existing property and not the new home
market. The level of mortgage rates, which remains historically low, continued
to decline in the first quarter of 2013 (3.07% in March on average excluding
insurance according to the Observatoire Crédit Logement) and are still a
positive support factor.

In line with the Group's annual forecasts, net reservations for new homes and
subdivisions recorded by Nexity in the first quarter of 2013 (2,041 units^[5])
fell 13% in volume terms compared to the first quarter in 2012. In value
terms, net reservations for new homes and subdivision lots were stable at €359
million including VAT.

Net reservations for new homes registered by the Group in France were down by
11% in volume terms and were stable in value terms (+2.7%) essentially due to
a sharp drop in the volume of bulk sales to professional landlords in the
first quarter (-45%). This was mainly the result of the basis of comparison,
as the first quarter of 2012 was marked by a particularly high level of sales
to professional landlords and to a certain extent by a wait-and-see attitude
of these operators ahead of the announcement of the future VAT rate applicable
to investment in social housing as part of the communication on the "emergency
plan" for housing (21 March 2013).

The first quarter of 2013 was also characterised by very few new commercial
launches (the number of new homes offered in commercial launches fell by 60%
compared to the first quarter of 2012) due to the need to redefine the
schedule for certain operations and renegotiate certain land prices to bring
Nexity into line with the new detailed implementation conditions of the new
Duflot buy-to-let investment scheme (published right at the end of 2012).
Aside from this slippage, at this stage the Group does not expect any
reduction in the number of new commercial launches for the year as a whole
when compared to initial forecasts.

New home and subdivision reservations - FRANCE
(units and €m)                                      Q1 2013  Q1 2012  Change %
New homes (number of units)                           1,660    1,857      -11%
Subdivisions (number of units)                          370      491      -25%
Total new home and subdivision reservations
(number of units)                                     2,030    2,348      -14%
New home reservations (€m incl. VAT)                    327      318       +3%
Subdivision reservations (€m incl. VAT)                  28       37      -24%
Total new home and subdivision reservations (€m         355      355       -0%
incl. VAT)

The growth in sales to home buyers (+45%), and more particularly to first-time
buyers, was not sufficient to offset the decline in volume recorded on sales
to professional landlords (-45%). However, the improvement in the average
price stemming from the lower portion of sales to professional landlords was
reflected by overall stability in reservations as measured by value. The
apparent growth in sales to individual investors (+17%) during a quarter
traditionally characterised by a weaker appetite for buy-to-let investment
products was due mainly to the particularly low level of reservations recorded
in this segment in the first quarter of 2012. At that time, the sharp decline
(from 22% in 2011 to 13% in 2012) in the tax benefit offered by the Scellier
scheme had just gone into effect and buyers had an interest in signing their
reservations no later than in the fourth quarter of 2011 so that they could
take advantage of the tax benefit for that year.

Breakdown of new home reservations by                                 Change%
client - FRANCE (number of units)       Q1 2013        Q1 2012
Home buyers                                 585  35%       403  22%       +45%
             o/w: - first-time buyers      481  29%      311  17%      +55%
                  - other home buyers       104   6%       92   5%      +13%
Individual investors                        518  31%       444  24%       +17%
Professional landlords                      557  34%     1,010  54%       -45%
Total new home reservations               1,660 100%     1,857 100%       -11%

The first quarter is also highlighted by the significant proportion of sales
in the Paris region, which represent 44% of homes sold to individuals in the
first quarter of 2013 (compared to 35% in the first quarter of 2012). The
effects of various mixes (clients, geography of the sales, type of products
sold) in different directions ultimately explain the slight growth in the
average price of homes sold.

Average sale price & floor area*           Q1 2013  Q1 2012
Average home price incl. VAT per sq.m (€)    3,811    3,780
Average floor area per home (sq.m)            60.1     60.0
Average price incl. VAT per home (€k)        229.0    226.6

  * excluding block sales and Iselection sales

Unsold completed stock held by the Group remained very low, amounting to 50
homes at 31 March 2013. The level of pre-commercialization recorded at the
time construction work was launched is still very high (76% on average). The
business potential^[6] of the Residential real estate division (excluding
Iselection) for new homes totalled 23,600 units at 31 March 2013 and remained
close to the level recorded at year-end 2012.

Subdivision reservations totalled 370 units, representing a marked decline
(-25%) compared to the first quarter of 2012, with the average price of net
reservations from individuals stable at €75.7 thousand.

While sales of new homes by Iselection as an operator grew in the first
quarter of 2013 compared to the same period last year, its sales of buy-to-let
investment products on behalf of third-party real estate developers fell
sharply (38 reservations compared to 157 in the first quarter of 2012).

Commercial real estate

· Transaction volumes in the French commercial investment market
during the first quarter of 2013 amounted to €2.6 billion, up by 40% compared
to the same period in 2012. However, this level remains well below the
long-term Q1 average. The strong demand for limited-risk products helped to
stabilise prime yields despite the established decline in rental values. The
growth in commitments recorded at the beginning of the year cannot be
extrapolated to the year as a whole, for which a total of €13 to €14 billion
in investment is expected (compared to €14.5 billion in 2012) (source: CBRE).

· Space taken up in the Paris region in the first quarter amounted to
393,500sq.m, a 24% drop compared to the first quarter in 2012, particularly
in the market for large floor areas (over 5,000^sq.m) (source: CBRE).
Depending on the brokers, overall take-up in the Paris region is expected to
reach between 2 million sq.m and 2.2 million sq.m at year-end 2013 (compared
to 2.4 million sq.m in 2012).

· The Group recorded €6 million in new orders in the first quarter of
2013 with a logistics operation in Moselle and, taking into account its
portfolio of projects at advanced set-up or commercialisation phases,
confirmed its objective of reaching €350 million in order intake for the year.

Services and Distribution Networks

In Real estate services, the portfolio of units under management in real
estate services to individuals amounted to 810,000 units at 31 March 2013
(attrition limited to 0.7% compared to year-end 2012). In real estate services
to companies, total floor space under management amounted to 10.8 millionsq.m
at 31March 2013.

In Distribution Networks, the number of provisional sale agreements recorded
in the first quarter by Century 21 and Guy Hoquet l'Immobilier was stable
(+0.9%) in comparison with the same period last year. The number of franchised
agencies totalled 1,315 at 31 March 2013 compared to 1,325 at 31 December
2012.

Backlog - Order Book at 31 March 2013

€ millions (excluding VAT)              31 March 2013  31 Dec. 2012  Change %
Residential real estate - New homes*            2,451         2,449     +0.1%
Residential real estate - Subdivisions            259           266     -2.6%
Residential real estate backlog                 2,710         2,715     -0.2%
Commercial real estate backlog                    285           383    -25.5%
    Total Group backlog                         2,995         3,098     -3.3%

* including outside France

The Group's order backlog at 31 March 2013 amounted to €2.995 billion^[7],
close to the level at year-end 2012, equivalent to 15 months' revenue from
Nexity development activities.^[8]



Outlook for 2013

  oResidential real estate: around 9,000 net new home reservations in an
    expected market of between 70,000 and 75,000 units
  oCommercial real estate: order intake target of €350 million

       oConsolidated revenue for 2013 expected to exceed €2.6 billion
       oCurrent operating profit targeted for 2013 at over €180 million
       oProposal to distribute a dividend of €2 per share in respect of 2012
         at the Shareholders' Meeting of 23 May 2013. Based on its outlook,
         the company will consider proposing to its shareholders the renewal
         of a €2 per share dividend next year

                                     ***
                  Financial Calendar & Practical Information

  oShareholders' Meeting
    Thursday, 23 May 2013
  oEx-dividend
    Monday, 27 May 2013
  oDividend
    payment
    Thursday, 30 May 2013
  oH1 2013 Business activity and results
    Wednesday, 24 July 2013

  oA conference call on Q1 2013 Revenue and Business Activity will be
    accessible in English at 15:00 CET on Thursday, 25 April 2013, by dialling
    the following numbers:

- Dial-in number (France)         +33 (0)1 70 99 35 15 Code: Nexity
- Dial-in number (rest of Europe) +44 (0)207 153 20 27 Code: Nexity
- Dial-in number (United States)  +1 480 629 9726      Code: Nexity

Playback will be available by phone after the conference call by dialling  the 
following number:
+44 (0)207 959 67 20 (Access code: 4613067#)

The presentation accompanying this conference can be accessed at the following
address:
http://www.media-server.com/m/p/tqwhpiyz

This presentation  will  be accessible  on  the Group's  website  starting  at 
9.00CET on 25 April 2013.

Disclaimer

The information, assumptions and estimates  that the Company could  reasonably 
use to determine  its objectives  are subject  to change  or modification  due 
notably to economic, financial and competitive uncertainties. Furthermore,  it 
is possible that some of the risks  described in chapter 4 of the Document  de 
Référence, filed with the  AMF under number D.13-0342  on 12 April 2013  could 
have an impact on the Group's activities and the Company's ability to  achieve 
its objectives.  Accordingly, the  Company  cannot give  any assurance  as  to 
whether it will achieve the objectives  described, and makes no commitment  or 
undertaking to update or otherwise revise this information.
This press release is considered to be a Quarterly Financial Report as defined
in the Transparency Directive transposed by the AMF.

______

AT NEXITY, WE AIM TO SERVE ALL OUR CLIENTS AS THEIR REAL ESTATE NEEDS EVOLVE
Nexity offers the widest range of advice and expertise, products, services and
solutions for private individuals, companies and local authorities, so as to
best meet the needs of our clients and respond to their concerns.
Our businesses - transactions, management, development, urban regeneration,
advisory and related services - are now all fully client focused, optimally
organised to serve and support our clients. As the benchmark operator in our
sector, we are resolutely committed to all of our clients, but also to the
environment and society as a whole.

Nexity is listed on the SRD and on Euronext's Compartment A
Member of the indices SBF 80, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All
Tradable
Mnemo: NXI - Reuters: NXI.PA - Bloomberg: NXI FP
ISIN code: FR0010112524
______

CONTACTS
Nexity:
Amélie Laroche-Truong- Head of Investor Relations/ +33 (0)1 71 12 15 49-
investorrelations@nexity.fr
Blandine Castarède- Director of Communications and Brand Strategy/ +33 (0)1
71 12 15 52- bcastarede@nexity.fr

      APPENDIX

Revenue by division^[9]

Residential real estate

€ millions               Q1 2013  Q1 2012  Change %
New homes                  324.0    357.8       -9%
Subdivisions                30.8     24.2      +27%
International                9.3     14.8      -37%
Residential real estate    364.1    396.8       -8%

Commercial real estate

€ millions              Q1 2013  Q1 2012  Change %
Commercial real estate    114.0     81.8      +39%

Services and Distribution Networks

€ millions                          Q1 2013  Q1 2012  Change %
Services                              100.2     99.7       +1%
Distribution Networks                   7.2      8.1      -11%
Services and Distribution Networks    107.4    107.8       -0%

Quarterly progression of revenue by division9

                                             2012                 2013
€ millions                           Q1    Q2    Q3    Q4     Q1   Q2 Q3 Q4
Residential real estate             396.8 399.2 404.7 654.7  364.1
Commercial real estate               81.8 105.2 126.2 204.3  114.0
Services and Distribution Networks  107.8 112.1 112.8 120.0  107.4
Other activities                      1.4   1.2   1.7   1.3    1.1
Revenue                             587.9 617.6 645.6 980.2  586.5

-------------------------

[1] Revenue basis - previous 12-month period

[2] Equivalent to the guidance provided in the press release of 19 February
2013 on 2012 business activity and results: market share to hold steady (then
estimated at 12.5%) in an expected market of between 70,000 and 75,000 homes

[3] Revenue specific to Iselection totalled €11.2 million euros in Q1 2013
(compared to €16 million in Q1 2012)

[4]Journal du Dimanche newspaper, 14 April 2013

[5] Of which 11 units in Italy amounting to €5 million

[6]  Includes  the  Group's  current  supply  for  sale,  its  future   supply 
corresponding to  project  phases  not  yet marketed  on  acquired  land,  and 
projects not yet launched associated with land secured through options

[7] The residential business backlog (Residential real estate) at 31 March
2013 included €18 million for Iselection's backlog (new home operator
business) compared to €13 million at year-end 2012.

[8] Revenue basis - previous 12-month period

[9] On a comparable basis. Iselection's activity, formerly included under
Services and Distribution Networks in 2012, was reassigned in 2013 to
Residential real estate (see page 2). Likewise, Marketing and Client
Relations, included under Services and Distribution Networks in 2012, was
reassigned in 2013 to Other activities (non-significant amounts).

Q1 2013 revenue

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