Core Insights - The company has returned to positive current operating profit starting in H1 2025, achieving €6 million compared to a loss of €54 million in H1 2024, driven by effective actions and alignment with market trends [5][9][30] - There is strong momentum for homebuyers, with a 34% increase in homebuyer activity in H1 2025, and a notable 45% increase in Q2 2025 [3][6][15] - The financial structure has been reinforced until 2028, with net debt at €398 million, reflecting a moderate increase of €68 million compared to the previous year [34][36] Financial Performance - Revenue for H1 2025 totaled €1,302 million, down 12% from H1 2024, primarily due to a decline in business activity [28][25] - Current operating profit for "New Nexity" improved by €60 million to €6 million in H1 2025, with a margin of 0.5% [9][29] - The backlog remains stable at €4 billion, equivalent to 1.6 years of revenue [12] Business Activity - The share of homebuyers in the sales mix increased to 35%, up 13 points compared to H1 2024 [4][60] - Reservations in residential real estate decreased by 15% in volume but showed a favorable price effect, with a 12% decline in value [11][15] - The absorption rate improved to 5 months, indicating effective supply rotation with virtually no unsold completed homes [14] Divisional Performance - The Services division saw a revenue increase of 12% to €206 million, driven by growth in Serviced Properties and Distribution [19][20] - Revenue from Urban Planning and Commercial Real Estate Development dropped significantly by 83% to €31 million due to a lack of new orders [17][30] - The Serviced Properties business reported a margin of 12.5%, reflecting improved profitability [23][31] Cost Management and Savings - The company is ahead of schedule on a cost-savings plan targeting €100 million by 2026, achieving 92% of the expected savings for full-year 2025 [5][31] - Ongoing deleveraging efforts have resulted in a reduction of working capital requirements, with a decrease of €19 million in Urban Planning and Residential Real Estate Development [34][43] Market Conditions - The housing market remains challenging, influenced by a slowdown in building permit issuance and the end of France's Pinel scheme [11][15] - Improved financing conditions, including stabilized mortgage rates around 3.1%, have positively impacted purchasing power for clients [15][19] Guidance and Future Outlook - The company has confirmed its guidance for 2025, anticipating continued operational profitability and a focus on selective development and profitability [51][54] - The transformation initiated in 2024 is expected to yield further benefits, positioning the company for profitable growth in 2025 [7][8]

Group 1 - MT Højgaard Holding's business unit, MT Højgaard Danmark, will construct an office property at Trælastholmen in Copenhagen for Urban Partners through Nrep's property investment team [1] - The project will feature 13,700 square meters of floor space across 6 stories, including a public green town garden, and will utilize hybrid construction methods to reduce CO2 emissions [2] - The construction is set to begin in 2026 and is expected to be completed by 2028, with MT Højgaard Danmark acting as the turnkey contractor [3] Group 2 - The project is a collaboration involving MT Højgaard Danmark's project developers, architects from Entasis, and engineers from Norconsult, showcasing the company's ability to combine development and execution competencies [4] - The order for the Trælastholmen project will not impact MT Højgaard Holding's 2025 financial outlook, which remains unchanged with expected revenue of DKK 10-10.5 billion and an operating profit (EBIT) of DKK 400-450 million [5]