Nexity: 9M 2017 business activity and revenue
(Thomson Reuters ONE) -
9M 2017 BUSINESS ACTIVITY AND REVENUE
Paris, Wednesday 25 October 2017
GOOD MOMENTUM FOR BUSINESS ACTIVITY IN RESIDENTIAL REAL ESTATE AND REVENUE
GROWTH
* 14,508 reservations in Residential real estate[1], including 12,615 new home
reservations (up 18% by volume and 23% by value)[2]
* Commercial real estate order intake: ?143 million
* Development backlog: ?4.5 billion (up 11%)
* Revenue: ?2,250 million (up 11%)
OUTLOOK CONFIRMED AND PARTIALLY REVISED UPWARDS[3]
* Growth in Nexity's new home reservations in a French market now expected to
improve slightly in 2017 (130,000 reservations vs. 127,000 previously), with
Nexity increasing its market share by at least 1 percentage point (i.e. to
more than 13.5% market share)
* Commercial real estate order intake in excess of ?350 million in 2017
* 2017 revenue growth of around 10%
* Growth in current operating profit: now expected to be at least ?300 million
in 2017 (vs. ?300 million previously) and at least ?325 million in 2018
* Dividend per share at ?2.40 in 2018[4]
Alain Dinin, Chairman and CEO of Nexity, commented:
"The French residential real estate market remains buoyant, and is expected to
show a slight increase for 2017 as a whole, to 130,000 reservations, a record
high. Sustained by continued low interest rates, appropriate tax incentives and
- on a more fundamental level - the strong structural demand for new homes,
particularly in supply-constrained areas, this market buoyancy is healthy and is
not accompanied by pressures on selling prices. After intentionally implementing
a prudent sales and marketing strategy in the second quarter, Nexity recorded an
acceleration in new home reservations during the third quarter as anticipated.
With a rise of nearly 20% in reservations for the first nine months of the year
(resulting both from organic growth and the full-year impact of Edouard Denis,
whose performance was excellent), Nexity has increased its market share growth
target to at least 1 percentage point (i.e. to more than 13.5% market share) in
2017.
The French government announced a new set of housing measures in September
2017. Nexity has widely communicated its assessment of these measures, which are
seen as having a positive impact in a number of areas (in particular the four-
year extensions for both the Pinel scheme and the PTZ interest-free loans) and
are likely to be beneficial for the markets in which Nexity operates. However,
they do not address all areas of concern in the housing sector and therefore may
have an effect on new home construction going forward without necessarily
lowering land prices in the short term. We can only hope that the parliamentary
debate will result in improvements to the government's proposals (especially
with regard to social housing operators, areas deemed not to be subject to
supply constraints and housing subsidies provided to first-time buyers from low-
income households).
Furthermore, results turned in by Nexity's other divisions were very
satisfactory, and this was especially true for real estate services to
individuals.
Nexity's consolidated revenue was up 11% in the first nine months of the year,
in line with the guidance given to the market. Nexity confirms its outlook for
2017 as a whole, and has partially revised it upwards. Lastly, the Group's
transformation towards becoming a client-focused, real estate services platform
is continuing, on the basis of a strategic plan whose elements will be
communicated to the market in 2018."
***
9M 2017 business activity
Residential real estate
In the first half of 2017, the French retail market for new homes held steady at
a high level (more than 62,000 units[5], down just 0.5% compared with the first
half of 2016), still supported by very low interest rates as well as an overall
improvement in economic conditions.
Despite a lingering wait-and-see attitude due to political and regulatory
uncertainties, the market remained buoyant. It is for these reasons that Nexity
now anticipates slight growth in the French housing market in 2017, to 130,000
reservations (compared with holding firm at 127,000 units as previously
estimated), with a probable acceleration in areas that will soon no longer
benefit from stimulus measures.
After bottoming out in November 2016 (at an average of 1.31%), mortgage rates
have been stable since June 2017, at 1.56% on average in September 2017.[6]
-------------------------------- --------- -------------------------- ---------
Reservations (units and ?m) 9M 2017 9M 2016 Change %
-------------------------------- --------- -------------------------- ---------
New homes (France) 12,615 10,692 +18.0%
o/w external growth* 1,450 295 x 4.9
Subdivisions 1,681 1,491 +12.7%
International 212 338 -37.3%
-------------------------------- --------- -------------------------- ---------
Total reservations (number of 14,508 12,521 +15.9%
units)
-------------------------------- --------- -------------------------- ---------
New homes (France) 2,429 1,974 +23.0%
o/w external growth* 294 48 x 6.1
Subdivisions 130 110 +19.0%
International 29 58 -49.6%
-------------------------------- --------- -------------------------- ---------
Total reservations (?m incl. 2,588 2,142 +20.8%
VAT)
-------------------------------- --------- -------------------------- ---------
* Edouard Denis has been consolidated since 1 July 2016 and
Primosud since 31 December 2016
New homes
At end-September 2017, net new home reservations in France totalled 12,615
units, up 18% by volume and 23% by value on the same period in 2016. Expected
revenue from reservations rose more sharply than reservation volumes,
particularly as a result of an increase in average prices (for both retail sales
- see table below - and bulk sales), together with a better geographic and
product mix for bulk sales.
With respect to their geographic distribution, 88% of the reservations recorded
over the first nine months of 2017 were located in supply-constrained areas (the
A, A bis and B1 zones under the current Pinel scheme). Reservations were strong
in both the Paris region (up 20%) and the rest of France (up 17%).
Excluding external growth transactions, a total of 11,165 units were reserved in
the first nine months of 2017, up 7% compared with the same period a year
earlier. Expected revenue from reservations came to ?2,134 million including
VAT, an increase of 11% compared with the first nine months of 2016.
In the third quarter of 2017, net new home reservations in France were up 33% by
volume and 37% by value year-on-year (26% by volume and value on a like-for-like
basis). This acceleration reflects a corrective bounce following the slowdown in
reservations noted in the second quarter, against the backdrop of elections in
France, postponed bulk sales and sustained underlying demand.
Steady progress continued to be made on integrating the businesses acquired
through external growth transactions in 2016. Edouard Denis is expected to book
at least 2,000 reservations in 2017 (as against some 1,450 units in 2016).
Nexity has increased its market share growth target to at least 1 percentage
point relative to 2016 (i.e. to more than 13.5% market share).
-------------------------------------------------- -------------- -------------
Breakdown of new home reservations by client -
France (number of units)
On a like-for-like basis 9M 2017 9M 2016
-------------------------------------------------- -------------- -------------
Homebuyers 2,750 25% 2,692 26%
o/w: - first-time buyers 2,083 19% 2,066 20%
- other homebuyers 667 6% 626 6%
Individual investors 4,970 45% 4,700 45%
Professional landlords 3,445 31% 3,005 29%
-------------------------------------------------- -------------- -------------
Total new home reservations 11,165 100% 10,397 100%
-------------------------------------------------- -------------- -------------
Reservations by first-time buyers held steady in the first nine months of 2017
compared with the year-earlier period (up 1%) and 59% of these buyers were
granted PTZ interest-free loans (including 97% in supply-constrained areas).
Reservations by individual investors rose in the first nine months of 2017 (up
6% compared with the year-earlier period) with 56% of these reservations
qualifying for the Pinel scheme (including 93% in supply-constrained areas).
Reservations by professional landlords were up 15% compared with the first nine
months of 2016 and accounted for 31% of all new business (versus 29% at end-
September 2016), with a decrease in the share of reservations made by social
housing operators (78% at end-September 2017, compared with 84% at end-September
2016) and an increase in the share of reservations for intermediate housing (14%
at end-September 2017, versus 8% at end-September 2016).
--------------------------- --------- --------------------------- ----------
Average selling price &
floor area* 9M 2017 9M 2016 Change %
--------------------------- --------- --------------------------- ----------
Average home price incl. +2.3%
VAT per sq.m (?) 3,872 3,784
Average floor area per
home (sq.m) 56.3 55.9 +0.8%
Average price incl. VAT
per home (?k) 218.1 211.4 +3.2%
--------------------------- ------------------------------------------------
* Excluding bulk reservations; reservations by Iselection,
PERL, Edouard Denis and Primosud; and international operations
The average price including VAT of new homes reserved by Nexity's individual
clients in the first nine months of 2017 was up 3% compared with the same period
in 2016, reflecting among other factors a slight increase in the average price
per square metre.
On a like-for-like basis, the average level of pre-sales booked at the start of
construction work came to 79% in the first nine months of 2017 (versus 72% in
the year-earlier period), an exceptionally high level.
Nexity launched a total of 15,839 units in the first nine months of 2017 (48%
more than in the first nine months of 2016). Unsold completed stock (148 units)
as a proportion of the total supply for sale (8,561 units) remained very low.
At end-September 2017, the business potential for new homes[7] was up 22% from
end-September 2016 and came to 44,332 units, the equivalent of 2.5 years of
development operations (on a like-for-like basis, 37,513 units, equating to 2.4
years' business).
Subdivisions
Subdivision reservations totalled 1,681 units, 13% higher than in the first nine
months of 2016, matching the momentum of the single-family home market. Of this
total, 22% were in supply-constrained areas, and it should be noted that the
business activity in the remaining areas may be affected by changes in the
French government's housing policy. The average price of net reservations made
by individuals rose 3% to ?77k, accompanied by increases in average subdivision
size (up 1%) and the average price per square metre (up 2%).
International
Nexity recorded 212 international new home reservations in the first nine months
of 2017, mainly in Poland (37% lower than in the year-earlier period, which also
includes reservations in Italy).
Commercial real estate[8]
At end-September 2017, commercial real estate investments in the French market
amounted to ?12.7 billion, down 21% relative to end-September 2016. Office
assets accounted for 75% of these investments, with prime yields still at record
lows. Investment volumes are expected to remain at a high level in 2017 as a
whole.
Take-up of office space in the Paris region increased slightly, with nearly
1,800,000 sq.m marketed in the first nine months of 2017, up 2% year-on-year.
Prime headline rents were very slightly higher than the previous quarter.
Nexity booked orders totalling ?143 million at end-September 2017 (including ?66
million in the third quarter of 2017), 60% of which were for properties in the
Paris region, with the remainder in the rest of France.
Nexity entered into an agreement with Unofi Gestion d'Actifs, acting on behalf
of SCPI Notapierre, for the off-plan sale of the Pegase office building in the
Bordeaux suburb of Le Haillan. The three-storey property, with a total floor
area of 6,700 sq.m, is scheduled for delivery in the second quarter of 2018 and
is to be certified to both Passeport HQE and BREEAM Excellent. It will house the
offices of the authorities for the western division of Bordeaux Métropole. This
project, which results from the takeover of Thalium Promotion's land portfolio,
strengthens Nexity's geographic presence in a new region, following a number of
orders for wood-frame office complexes in the city of Lille and its environs.
Satisfactory progress was made on projects currently in the set-up phase, which
are expected to be marketed in coming quarters.
Services
In Real estate services to individuals, the portfolio of units under management
totalled 885,000 units at 30 September 2017, representing a slight decrease over
the period (down 0.8% on a like-for-like basis[9]) and an improvement compared
with the first nine months of 2016 (down 2.4%). The brokerage business continued
to grow, with the number of provisional sale agreements signed up 3% relative to
end-September 2016. The proportion of exclusive agency contracts is very
satisfactory, rising to 58% at 30 September 2017 (from 54% a year earlier),
reflecting success at building client loyalty. Nexity Studéa, which specialises
in managing student residences, saw its occupancy rate increase to 89.9% in the
first nine months of 2017, compared with 87.6% in the year-earlier period.
In Franchise operations, Century 21 and Guy Hoquet l'Immobilier signed 9% more
provisional sale agreements in the first nine months of 2017 than during the
same period the previous year, in a French market for existing properties having
reached an all-time high.[10] There were 1,270 franchised agencies at end-
September 2017, up from 1,217 at end-December 2016.
In Real estate services to companies, total floor area under management came to
11.6 million sq.m at end-September 2017, down 6% from end-December 2016,
following the end of a management contract for more than 530,000 sq.m. New
management contracts are currently being negotiated and are expected to be
finalised in the coming quarters.
Urban regeneration (Villes & Projets)
During the third quarter of 2017, Nexity added to its portfolio a new major
development programme in the vicinity of the future Bry-Villiers-Champigny
station on the southern section of the new Line 15, part of the Grand Paris
project. This mixed-use development will comprise 140,000 sq.m of space, divided
between residential units and business premises. At end-September 2017, Nexity's
urban regeneration business (Villes & Projets) had a land development potential
of 641,000 sq.m[11].
Digital and Innovation
Nexity continues to invest around ?20 million a year in digital technology and
innovation, split between in-house digital transformation projects and
investment in new services through direct investments (Blue Office, Bien'ici, E-
gérance, etc.), partnerships with start-ups (Cowork.io, Lucibel, etc.) and
investments with venture capital funds.
Nexity's initiatives during the third quarter of 2017 included:
* opening a new smart agency in Strasbourg, offering existing as well as new-
build properties and an enriching experience for Nexity clients;
* taking part in the financing of Realiz3D, a start-up specialising in the
creation of interactive 3D models of homes accessible via the internet and
across all digital devices; and
* engaging with its entire ecosystem through a hackathon to generate ideas for
new services to address the challenges raised by an ageing population and
meet the expectations of seniors as well as caregivers.
In addition, Bien'ici - a next-generation property listings website in which
Nexity has a 48% stake alongside a consortium of real estate professionals
(Consortium des Professionnels de l'Immobilier) - continued to receive a growing
number of membership requests from professionals wishing to place paid listings
(with more than 7,000 member agencies at 30 September 2017).
Success of the capital increase reserved for Nexity employees
On 28 July 2017, Nexity completed a leveraged capital increase, with a capital
guarantee, reserved for employees known by the name "aXion 2017-2022". A total
of 550,000 new shares (0.99% of the share capital at 30 June 2017) were issued
at a price of ?41.36, representing a 20% discount against the reference price
calculated for the issue.
Nearly 3,300 employees (over 50% of the eligible salaried workforce), subscribed
to the issue, which was oversubscribed three times.
The level of interest and the subscription rate, both the highest ever reached
by Nexity for a capital increase reserved for employees, demonstrate their
strong attachment to Nexity's strategy and vision, but also Nexity's own
commitment, since its initial public offering, to expand direct and indirect
employee ownership. At 30 September 2017, Nexity's managers and employees held
16.2% of its share capital.
9M 2017 revenue
In the first nine months of 2017, Nexity's revenue was up 11% over the year-
earlier period to ?2,250 million, with increases across all the Group's
divisions. On a like-for-like basis, excluding Edouard Denis and Primosud, the
Group's revenue for the first nine months of 2017 came to ?2,207 million, up 9%
compared with the same period in 2016.
--------------------------- ----------- ----------- -----------
? millions 9M 2017 9M 2016 Change %
--------------------------- ----------- ----------- -----------
Residential real estate 1,627.2 1,457.5 +11.6%
Commercial real estate 246.0 189.4 +29.9%
Services 373.1 368.5 +1.3%
Other activities 3.5 3.4 +1.3%
--------------------------- ----------- ----------- -----------
Total Group revenue* 2,249.8 2,018.9 +11.4%
--------------------------- ----------- ----------- -----------
* Revenue generated by the Residential and Commercial divisions from VEFA off-
plan sales and CPI development contracts is recognised using the percentage-of-
completion method, i.e. on the basis of notarised sales and pro-rated to reflect
the progress of incurred construction costs.
Residential real estate revenue totalled ?1,627 million, up 12% year on year.
This growth reflects the increase in the division's backlog observed over the
previous quarters.
On a like-for-like basis, the division's revenue for the first nine months of
2017 came to ?1,585 million. Revenue generated in the first nine months of 2017
by Edouard Denis and Primosud (?152 million) is only recognised in the amount of
?43 million as part of consolidated revenue due to the adjustment for the
effects of PPA (purchase price allocation), which involves the elimination of
the portion of revenue relating to business activity prior to the acquisitions.
Revenue for the Commercial real estate division was substantially higher than in
the first nine months of 2016 (up 30%), at ?246 million, reflecting the ramp-up
of projects signed in 2015 and 2016.
The Services division generated revenue of ?373 million, up very slightly year
on year. Higher revenue from property management for individuals and franchise
networks offset lower revenue from real estate services to companies.
As in the first nine months of 2016, revenue from Other activities was not
significant.
In IFRS terms, revenue for the first nine months of 2017 was ?2,145 million, up
10% compared to consolidated revenue of ?1,954 million for the nine-month period
ended 30 September 2016. This figure excludes revenue from joint ventures, in
accordance with IFRS 11, which requires joint ventures to be accounted for via
the equity method instead of proportionately consolidated as they were
previously.
Backlog at 30 September 2017
------------------------------ ------------------- ------------------ ---------
? millions, excluding VAT 30 September 2017 31 December 2016 Change %
------------------------------ ------------------- ------------------ ---------
Residential real estate - 3,762 3,227 +16.6%
New homes
Residential real estate - 245 237 +3.4%
Subdivisions
Residential real estate 4,007 3,464 +15.7%
backlog
Commercial real estate 452 544 -16.9%
backlog
------------------------------ ------------------- ------------------ ---------
Total Group backlog 4,459 4,008 +11.3%
------------------------------ ------------------- ------------------ ---------
The Group's backlog at end-September 2017 stood at ?4,459 million, up 11%
relative to year-end 2016 and equivalent to 19 months' revenue from Nexity's
development activities (revenue on a rolling 12-month basis).
Order book in the Residential real estate division totalled ?4,007 million, up
16% compared to 31 December 2016. This backlog amounts to 20 months of revenue
(Residential real estate division revenue on a rolling 12-month basis).
The Commercial real estate division's backlog dropped to ?452 million at 30
September 2017 (compared with ?544 million at year-end 2016), as the new orders
received did not offset the revenue generated during the first nine months of
2017. This backlog amounts to 15 months of revenue (Commercial real estate
division revenue on a rolling 12-month basis).
Financial calendar and practical information
2017 annual results Tuesday, 20 February
2018 (after market close)
Q1 2018 business activity and revenue Wednesday, 25
April 2018 (after market close)
Shareholders' Meeting Thursday, 31 May
2018
2018 interim results Wednesday, 25 July
2018 (after market close)
A conference call on 9M 2017 revenue and business activity will be held in
English at 6:30 p.m. CET on Wednesday, 25 October 2017 and may be accessed using
code 2604488 by calling one of the following numbers:
- From France +33 (0)1 76 77 22 57
- From other locations in Europe +44 (0)330 336 94 11
- From the USA +1 719 457 10 36
The presentation accompanying this conference will be available on the Group's
website from 6:15 p.m. CET and may be viewed at the following address:
https://edge.media-server.com/m6/p/ghv3cm75
The conference call will be available on replay at
http://www.nexity.fr/immobilier/groupe/finance from the following day.
Disclaimer
AT NEXITY, WE AIM TO SERVE ALL OUR CLIENTS AS THEIR REAL ESTATE NEEDS EVOLVE
Nexity offers the widest range of advice and expertise, products, services and
solutions for private individuals, companies and local authorities, so as to
best meet the needs of our clients and respond to their concerns.
Our business lines - real estate brokerage, management, design, development,
planning, advisory and related services - are now optimally organised to serve
and support our clients.
As the benchmark operator in our sector, we are resolutely committed to all of
our clients, but also to the environment and society as a whole.
Nexity is listed on the SRD and on Euronext's Compartment A
Nexity is included in the following indices: SBF 80, SBF 120, CAC Mid 60, CAC
Mid & Small and CAC All Tradable
Ticker symbol: NXI - Reuters: NXI.PA - Bloomberg: NXI FP
ISIN code: FR0010112524
______
CONTACT
Domitille Vielle - Head of Investor Relations / +33 (0)1 85 55 19 34 -
investorrelations(at)nexity.fr
Géraldine Bop - Deputy Head of Investor Relations / +33 (0)1 85 55 18 43 -
investorrelations(at)nexity.fr
Information, assumptions and estimates that the Company could reasonably use to
determine its targets are subject to change or modification, notably due to
economic, financial and competitive uncertainties. Furthermore, it is possible
that some of the risks described in Section 2 of the Registration Document
(Document de référence) filed with the AMF under number D.17-0335 on 6 April
2017 could have an impact on the Group's operations and the Company's ability to
achieve its targets. Accordingly, the Company cannot give any assurance as to
whether it will achieve its stated targets, and makes no commitment or
undertaking to update or otherwise revise this information. This press release
is considered to be a quarterly financial report as defined in the Transparency
Directive transposed by the AMF.
ANNEX
QUARTERLY FIGURES
OPERATIONAL REPORTING (In accordance with IFRS but with joint ventures
proportionately consolidated)
Reservations: Residential real estate division
------------------- ------------------------- ------------------------
2017 2016 2015
------------------- ------------------------- ------------------------
Number of
units Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
--------------- ------------------- ------------------------- ------------------------
New homes
(France) 4,821 4,288 3,506 5,201 3,624 4,121 2,947 4,237 2,368 2,949 2,187
- o/w 2016
external
growth 638 399 413 547 295
Subdivisions 522 680 479 1,027 420 654 417 925 400 556 321
International 69 106 37 141 95 170 73 133 103 42 14
--------------- ------------------- ------------------------- ------------------------
Total (number 5,412 5,074 4,022 6,369 4,139 4,945 3,437 5,295 2,871 3,547 2,522
of units)
--------------- ------------------- ------------------------- ------------------------
Value, in ?m
incl. VAT
--------------- ------------------- ------------------------- ------------------------
New homes
(France) 915 858 655 969 666 772 536 803 473 595 415
- o/w 2016
external
growth 137 82 75 90 48
Subdivisions 42 53 35 87 30 48 32 69 29 45 23
International 6 14 9 21 17 28 13 19 15 6 2
--------------- ------------------- ------------------------- ------------------------
Total (?m 964 925 699 1,076 713 848 581 891 516 646 440
incl. VAT)
--------------- ------------------- ------------------------- ------------------------
Revenue by division
------------------- --------------------------- --------------------------
2017 2016 2015
------------------- --------------------------- --------------------------
? millions Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
------------- ------------------- --------------------------- --------------------------
Residential
real estate 553.6 625.8 447.8 809.9 475.4 549.3 432.8 809.3 460.3 531.5 360.5
Commercial
real estate 103.6 56.7 85.8 117.5 60.6 61.3 67.6 74.2 102.8 116.5 85.7
Services 127.5 124.3 121.3 125.6 124.8 122.8 120.9 131.3 129.8 121.2 121.5
Other
activities 0.6 1.7 1.1 0.9 0.6 2.1 0.7 1.3 1.2 9.0 1.0
------------- ------------------- --------------------------- --------------------------
GROUP 785.4 808.5 656.0 1,053.8 661.4 735.6 621.9 1,016.0 694.1 778.2 568.7
------------- ------------------- --------------------------- --------------------------
--------------------------------------------------------------------------------
The financial data and indicators used in this press release, including forward-
looking information, are based on Nexity's operational reporting, with joint
ventures proportionately consolidated.
[1] Including new homes, subdivisions and International
[2] On a like-for-like basis: 11,165 new home reservations (up 7% by volume and
up 11% by value)
[3] Outlook announced on 22 February 2017, partially revised upwards in October
2017
[4] Pending the decision of Nexity's Board of Directors and approval at the
Shareholders' Meeting
[5] Source: Commissariat Général au Développement Durable (Sit(at)del2 database)
[6] Source: Observatoire Crédit Logement
[7] Business potential includes the Group's current supply for sale, its future
supply corresponding to project phases not yet marketed on purchased land, and
projects not yet launched associated with land secured under options
[8] Source of market data: CBRE, MarketView Investment France and Paris region
Offices - Q3 2017
[9] Attrition of 1.4% at current structure
[10] Market totalling 921,000 transactions at the end of June 2017, equating to
growth of 9% relative to end-2016 (CGDD projections based on data from DGFiP
[MEDOC] and notarial databases)
[11] Floor areas are provided for information purposes only and may be subject
to adjustment once administrative authorisations have been obtained
PR 9M 2017:
http://hugin.info/143515/R/2144555/821887.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nexity via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 565264
Anzahl Zeichen: 35176
contact information:
Town:
Paris-la-Défense
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 328 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Nexity: 9M 2017 business activity and revenue"
steht unter der journalistisch-redaktionellen Verantwortung von
Nexity (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
