Metrovacesa's Board of Directors will propose the payment of a dividend of €1.12 per share in December, equivalent to €169.8 million, which will be put to a vote at the extraordinary general meeting called for 25 November. Added to the €0.46 paid in May, the total dividend for the year will amount to €239.8 million, compared to €105 million distributed in 2024.
Between January and September 2025, the developer recorded revenues of €267 million after delivering 812 homes, with a gross margin of 22.5% and land sales of €17 million. In the same period, net pre-sales reached €458 million, equivalent to 1,201 homes, with an average price of €381,000 per unit, 13% higher than the previous year.
The company's forecasts point to a higher volume of deliveries and land sales in the last quarter, which will allow it to close the year with growth in revenue and EBITDA compared to 2024. In terms of operating cash flow, Metrovacesa expects to exceed its initial guidance of €150 million, driven by improved EBITDA, land monetisation and working capital optimisation.
The portfolio of committed sales amounts to €1.37 billion and 3,654 homes, 18% more than in December 2024. The company currently has 4,224 homes under construction and 5,876 on the market, of which 62% have already been sold. Delivery coverage stands at 85% for 2026 and 48% for 2027.
In the first nine months of the year, the company invested €54 million in new land acquisitions for 530 future homes, with operations in Valdecarros (Madrid) and Sabadell (Barcelona). Land sales contributed €17 million up to September, and the developer has a portfolio of private contracts worth €141 million, most of which will be formalised between 2025 and 2026.
As of 30 September, net debt stood at €380 million, with a loan-to-value ratio of 14.8% and cash reserves of €115 million. According to data released by the company, this position gives it room to undertake new investments and maintain a prudent financial structure.
The Spanish residential market continues to show solid demand, with more than 700,000 transactions per year, driven by the shortage of new housing, the stable economic environment and stability in mortgage lending. In this context, Metrovacesa expects to close 2025 with a positive balance sheet supported by sustained commercial activity and active land management.
