1st quarter 2024 results for Kaufman & Broad SA

Kaufman & Broad SA revealed its results for the first quarter of fiscal 2024, marking a 10% increase in bookings by volume. The company's net cash position is positive at €190.2 million, thus affirming the solidity of its financial structure. Kaufman & Broad confirms its objectives for the year 2024, with a dividend of 2.40 euros proposed to the General Meeting of May 6.

On the commercial front, accommodation reservations reached €252.7 million, up 7.9% compared to last year. The vacancy time for housing improved, going from 6.9 to 4.1 months. Thus, the company continues to prioritize the quality and economic performance of its housing.

Turnover stood at €228.0 million for this quarter, current operating profit at €16.8 million and net profit at €11.0 million. The stability of the gross margin at 20.1% underlines the effectiveness of profitability management. Financial capacity has also strengthened, reaching €615.3 million at the end of February 2024.

Kaufman & Broad maintains its optimism for the year 2024, with a turnover forecast of around 1.1 billion euros and a current operating profit rate between 7% and 7.5%. The company is preparing to launch 19 new real estate programs in the 2nd quarter, thus confirming its growth momentum.