Aedas Homes enters 358 million and maintains its goal of reaching 900 million at the end of the year

Its sales portfolio reaches 5,000 homes, for more than 1,565 million euros.

Aedas Homes enters 358 million and maintains its goal of reaching 900 million at the end of the year

Its sales portfolio reaches 5,000 homes, for more than 1,565 million euros

MADRID, 15 Feb. (EUROPA PRESS) -

Aedas Homes closed the first nine months of its fiscal year, a period that ran from April to December 2022, with revenues of 358 million euros, which represents a drop of 11% compared to the same period of the previous year, and a margin average gross of 26.3%.

The real estate developer has defended that these data are within its estimated range of objectives, which is why it has kept its objectives of reaching 900 million in annual income and 160 million in Ebitda unchanged when it closes its fiscal year in March.

Aedas Homes has explained that the company concentrates most of the deliveries in the last quarter of the year, so it expects to reach those numbers, which would mean the highest historical figures recorded by the promoter.

As of December 31, the promoter had 2,098 completed homes (with the CFO completion certificate) ready to deliver, which added to the more than 1,000 units already delivered, provides visibility to reach the 2,600 planned annual deliveries.

"The company's operating and financial numbers confirm that Aedas Homes is progressing steadily, showing a proven ability to execute and growing on demand that maintains exceptional resilience," said its CEO, David Martínez, who highlighted that the price Average Build to Sell (BtS) sales in the first nine months of the year increased by 15% year-on-year, to 390,000 euros.

The sales portfolio for the next two years is 4,929 units (3,856 BtS and 1,073 BtR) for a value of 1,565 million euros, with sales coverage that covers deliveries in 70% and 25% of the years 2023/ 24 and 2024/25, respectively.

The company also registers maximum levels of homes for sale, with more than 10,000 units on the market, 30% more than in the same period of the previous year. From April to December alone, it launched 3,026 units, a figure that contrasts with the 2,398 in the same period of the previous year.

This visibility is also reflected in the 4,437 homes that it has under construction - plus the 2,098 already completed pending delivery (CFO) - and in its extensive land bank, which guarantees the business until the 2026/27 financial year.

This land portfolio amounts to 17,241 units spread over 13 autonomous communities and is based on prudent investments with a selective approach, prioritizing the option in resilient market segments.

On the other hand, Aedas Homes ended the first nine months of the year with 150 million euros in cash, another 30 million of available revolving line and limited exposure to variable interest rates.

"Despite the uncertainty of the current economic situation, the operational activity of Aedas Homes evolves favorably and with a solid visibility on the objectives, which is reflected in the good degree of progress of the works and in the good rhythm of sales to a demand medium-high level that continues to show resilience", concluded Martínez.

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