Metrovacesa closed 2025 with an 8% increase in revenue, reaching €708.5 million. EBITDA grew by 74% to €127.6 million, while net profit stood at €56.9 million, compared to €15.9 million the previous year, representing an increase of 258% and multiplying the 2024 result by 3.5.
Operating cash flow amounted to €225 million, 54% more than the previous year and above the initial forecast of €150 million. This performance enabled the distribution of €240 million in dividends, with a return of 17%.
In the residential business, the company delivered 1,805 homes, with an average price of €374,000, and achieved a gross developer margin of 26.2%. At the end of the financial year, it had 3,917 homes under construction and a pre-sale portfolio of 3,095 units, which provide visibility on the deliveries planned for the coming years.
In terms of land activity, Metrovacesa recorded €32.1 million in sales revenue and maintained private sales contracts worth €162.7 million, with an expected impact in 2026 and 2027. In addition, it acquired land worth €60 million in Madrid, Barcelona, Valencia and Malaga.
Net financial debt fell by 4% to €301 million, with a loan-to-value (LTV) ratio of 13.5%.
On an operational level, the developer continued the development of the Isla Natura area in Seville, where it has delivered more than 800 homes between 2024 and 2025 and launched 28 developments. In Madrid, the Los Cerros and Valdecarros developments are progressing, with the first developments expected to go on sale in 2026. In the tertiary segment, the company signed an agreement for the development and turnkey sale of two office buildings at Oria Innovation Campus, including a 26-storey tower and a total of 48,000 sqm, completing the marketing of this project.
Metrovacesa has a land portfolio of 4.2 million sqm of buildable land, with the capacity to develop more than 25,000 homes, and has more than a hundred projects under development in different cities, including Barcelona, Valencia and Madrid.
