Kaufman & Broad has reported a 23% increase in net income to 60.2 million euros for 2023, with recurring operating margin up 0.3 points to 7.8% and overall sales up 7% to 1.41 billion (excl. VAT).

The real estate group estimates that it should remain in a positive net cash position after taking into account the payment of a dividend of 48 million euros for 2023, or 2.40 euros per share, which will be submitted for approval at the AGM on May 6.

For 2024 as a whole, sales are expected to come in at around 1.1 billion euros, with the difference from 2023 due to the base effect of the Austerlitz transaction. The operating income recurring rate is expected to be between 7 and 7.5%.

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