Homebuilder Hexaom's sales fall 29% in 2024

Hexaom, the French leader in the construction of individual houses, saw its turnover fall by 29% in 2024 in a context of crisis in the real estate sector, but sees an improvement for 2025, according to a press release.

This decline is in line with what the group had predicted, having warned at the start of 2024 that its production was likely to fall by 25% to 30%.

It ultimately achieved a turnover of 727,2 million euros over the whole year, details the document released on Friday.

For house construction, by far the company's main activity, sales fell by 31,5%, which "results from orders taken in 2022 and 2023 and reflects the crisis that the real estate sector has been experiencing for almost 4 years", says Hexaom.

Turnover from renovation activities fell by 16,4%.

Only the Real Estate Development division posted an increase in its turnover, of 2,7%, which is less than hoped for by the group "for this growing activity".

Hexaom, which will publish its annual results on March 27, still expects "to achieve operating profitability representing approximately 3% of annual turnover."

Sales in the fourth quarter alone were particularly affected: they plunged by 39% compared to the same period in 2023.

But the fourth quarter also marked, according to the company, "a recovery in contacts and sales levels, thanks in particular to interest rates and banking offers that have become more attractive again."

For the house construction activity, orders taken over the last three months of the year increased by 18,2% compared to the same period in 2023, and even by 32,2% in December alone.

The company remains cautious, however. "The recovery in sales observed at the end of the financial year is encouraging but remains to be confirmed," it emphasizes.

"After 4 years of a deep real estate crisis which has caused a large number of failures among the players in the sector, professionals are waiting for the rapid implementation of the measures announced, particularly concerning the extension of the zero-rate loan (PTZ) to the entire territory and to all types of new housing," she indicates.

The group forecasts for 2025, at constant scope, "a more moderate drop in its turnover while maintaining its profitability".