Neinor Homes closes 2018 with a net profit of €50M

Neinor Homes closes 2018 with a net profit of €50M


These figures represent €55M more than the net profit obtained in 2017 and an adjusted EBITDA that is almost fourteen times higher than last year (3.7 million in 2017).

Neinor Homes has delivered more than 1,000 homes in 2018 in 15 different developments (a figure that increases to 1,500 homes since the company's IPO in March 2017), meeting its business objectives.

Revenues were €382M, 70% more than the previous year, of which €313M came from the development business and €69M from servicing and legacy activities.

With regard to licences for 2020 onwards, Neinor Homes has licenses granted to develop 4,300 homes, of which some 3,000 are already under construction.

On the other hand, the net asset value (NAV) grew 7% with respect to 2017, up to €1,386M (€17.55 per share), while GAV stood at €1,823M.

With regard to investments, Neinor Homes has invested €224M in CAPEX, compared to €156M in 2017. In addition, the company has spent €95M in the acquisition of land: 1,000 units on final land and 1,400 on strategic land.

Juan Velayos, CEO of Neinor Homes, said: «2018 has been a great year for the company. The results are totally consistent with the consensus of analysts and reinforce the execution and delivery capacity of the company. The number of homes delivered, over 1,000 units, confirms our leadership in the market».




Source: Neinor Homes

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