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Q1 2021 RESULTS Press release Paris , April 15 , 2021 Structural demand for housing still strong in a context of declining building permit allocations Key sales data Overall backlog large and still growing : + 5.0 % at € 3,572.4 million • Housing property portfolio : 36,177 units ( + 8.2 % ) Financial structure as solid as ever : KAUFMAN A BROAD 。 a positive net cash position of € 21.4 million ( excluding IFRS 16 liabilities ) ○ sizable financing capacity ( € 425.1 million ) • Structurally strong demand from individual buyers and investors for housing and energy - efficient offices ( Q1 2021 vs. Q1 2020 ) Total orders : € 272.7m incl . VAT vs € 1,401.5m incl . VAT Housing : € 234.3m incl . VAT vs € 326.5m incl . VAT 1,144 units vs 1,482 units ■ Commercial : € 38.4m incl . VAT vs € 1,075.0m incl . VAT Take - up period for Housing * : 4.9 months vs. 6.8 months ( -1.9 months ) Key financial data ( Q1 2021 vs Q1 2020 unless otherwise specified ) Revenue : € 285.9m vs € 299.2m Of which Housing : € 247.3m vs € 272.2m Gross margin : € 49.4m vs € 57.1m EBIT margin ** : 7.7 % vs 8.5 % Attributable net income : € 11.8m vs € 13.2m Cash position net of financial debt ( excl . IFRS 16 liabilities ) : € 21.4m vs € 62.5m at end - Nov . 2020 Financing capacity : € 425.1m vs € 465.2m at end - Nov . 2020 Key growth indicators ( end - Feb . 2021 vs end - Feb . 2020 ) Overall backlog : € 3,572.4m ( + 5.0 % ) Of which Housing : € 2,332.6m ( + 12.5 % ) Housing property portfolio : 36,177 units ( + 8.2 % ) Kaufman & Broad SA has today announced its unaudited results for the first quarter of fiscal year 2021 ( from December 1 , 2020 to February 28 , 2021 ) . Nordine Hachemi , Chairman and Chief Executive Officer of Kaufman & Broad , made the following comments : " The results for Q1 2021 came out in line with our expectations and confirm that Kaufman & Broad's finances are solid , with a net cash surplus of € 21.4 million ( excluding IFRS 16 liabilities ) at the end of the quarter and financing capacity totaling € 425.1 million . They also reflect Kaufman & Broad's capacity to prepare for the future as the group expanded its land reserve by 8.2 % and increased overall backlog by + 5.0 % and Housing backlog by + 12.5 % in the Housing segment . In the short term , the calendar of the upcoming elections over the next twelve months should add its effects to the absence of real measures to combat the downward trend in the allocation of building . In this context , Kaufman & Broad anticipates a level of its reservations in 2021 comparable to that of 2020 . In the medium term , Kaufman & Broad is confident that it will be able to benefit from persistently strong demand from individual buyers and investors alike . The need for housing is as substantial as ever , fueled by structural , demographic , sociological and environmental factors , and the same applies to demand for energy - efficient office buildings . Kaufman & Broad made active progress on its strategic priorities throughout the first quarter . The planning policy continued with the development of projects on industrial , tertiary and commercial wastelands , in particular on the Reims , Blagnac and Austerlitz station sites . The success of the sale - before- completion ( VEFA ) marketing call for tenders launched by Kaufman & Broad - for a portfolio of 500 housing units nationwide - showed just how apt this new development model is . Similarly , the group is currently stepping up efforts to establish a managed housing portfolio in its capacity as a developer - investor - operator . Kaufman & Broad has been informed of an appeal against the Austerlitz renovation project . The 2021 guidance range announced in January and summarized below will therefore be fine - tuned mid - July , once the consequences of the appeal lodged against the project's building permit have been fully assessed . Revenue for fiscal year 2021 as a whole should come out at around € 1.3 billion . If all the administrative authorizations required for the Austerlitz renovation project have been obtained by the end of the appeals process in 2021 , this revenue figure could rise to € 1.6 billion . In the first scenario , the EBIT margin would be similar to that generated in 2020 ; in the second , it could return to the levels achieved in previous years . * Calculated on the basis of the first 3 months of the financial year ** expressed as a percentage , it corresponds to current operating income , ie gross margin less current operating expenses divided by revenue .