French property group Nexity maintained its forecast for higher 2026 current operating profit within its New Nexity scope after nine-month revenue fell 17%, while opening talks with lenders over a €625 million facility.
Revenue for the nine months through Sept. 30 was €1.611 billion, compared with €1.934 billion a year earlier. The company said slower activity in projects underway and the timing of revenue recognition as projects progress weighed on its Planning and Development business.
That division generated €1.295 billion, down 20% year over year. Serviced Properties brought in €232 million, an increase of 2% that partly cushioned the decline.
Nexity recorded 5,394 residential reservations in France, 17% fewer than in the same period of 2025. Their total value fell 19% to €1.147 billion. Retail sales made up 3,094 reservations, down 10%. Adéquation’s September update counted 31,000 reservations by individual buyers in housing development during the first eight months of 2026, a 14% drop from the same period in 2025.
Nexity’s forecast calls for an increase in current operating profit (COP) for its New Nexity scope. The company said the projection does not depend on a housing-market recovery and is conditional on no significant further deterioration in conditions. Its plan includes €100 million in cost savings, and it aims to bring its leverage ratio below 3.5 times no later than 2027.
The bank discussions cover a €625 million credit facility due in February 2028, as well as completion guarantees that provide customers assurance that projects will be finished. Nexity expects the talks to conclude in the coming weeks.
Higher borrowing costs and reduced purchasing power are weighing on homebuyers, Nexity said. The Observatoire Crédit Logement/CSA reported an average mortgage rate of 3.40% in September, up from 3.25% in June; its average for 25-year loans was 3.45%.
Nexity Chairwoman and CEO Véronique Bédague said third-quarter signs confirmed “the delay in the recovery cycle” the company had flagged in late July. Nexity also said bulk sales vary across the year: the fourth quarter of 2025 accounted for 3,800 units, or 51% of that year’s total. The company is scheduled to report full-year 2026 results after market close on Feb. 24, 2027.
