Aedas Homes enters 766 million euros in its last fiscal year and earns 83 million, 9% more

Sold more than 3,000 off-plan homes valued at more than 1,000 million euros

MADRID, 26 May. (EUROPA PRESS) -

Aedas Homes achieved a profit of 93 million euros in its last fiscal year, between April 2021 and March 2022, which represents a growth of 9% compared to the previous year, at the same time that it recorded revenues of 766 million euros. euros, 14% more.

The real estate developer achieved these business figures after achieving a gross margin in its operations of 222 million euros, which represents a margin of 29%, thus meeting the financial and operational objectives set out in its business plan.

In addition, it boosted its gross operating result (Ebitda) to 149 million, exceeding the year's target of 140 million, and achieved an operating margin of 19.5%, as reported in its income statement, published in the National Commission of the Stock Market (CNMV).

"Undoubtedly, the 2021/22 financial year has been the company's best year, thanks to the management and execution capacity of the team that, once again, has fulfilled the commitments made to our customers and shareholders despite the significant challenges that the sector has faced", points out the CEO of Aedas Homes, David Martínez.

The manager also underlines that the company "has achieved excellent levels of operating performance in all areas of activity: investment in land, sales, construction and delivery of homes".

On a financial level, the promoter has a total treasury of 240 million euros, increasing the figure for the previous year by almost 54 million, nearly 29% more, and has additional liquidity lines.

Likewise, in the 2021/22 financial year, it undertook a debt restructuring, with the aim of extending terms and setting the existing low interest rates, which, together with "proper management", allows it to maintain low leverage rates despite the activity escalation.

With regard to investments, the developer invested 303 million euros in 4,101 units of land --98% finalist--, so that it now has a bank of land that will allow it to develop 17,000 homes, with which it intends to fulfill its goals for the next few years.

As of March 31, the developer had 5,337 units under construction and 672 completed pending delivery, which represents a construction coverage of 100% of deliveries in 2022/23 and 88% in 2023/24.

Complying with the business plan, Aedas Homes delivered 2,298 homes in the 2021/22 financial year, a period in which it also sold more than 3,000 off-plan homes valued at more than 1,000 million euros.

The board of directors will propose at the next general meeting of shareholders, scheduled for June 29, the distribution of dividends for a total of up to 101 million euros, the equivalent of 2.16 euros per share.

This dividend proposed by the board represents a return for shareholders of 10% at the current share price and its distribution will be carried out in two phases.

On the one hand, it already paid a dividend of 0.82 euros per share on March 31 as an interim dividend; and on the other hand, it will pay another complementary dividend of 1.34 euros per share at the beginning of July.