MADRID, 25 Oct. (EUROPA PRESS) –
Metrovacesa earned 302.1 million euros in the first nine months of the year, a figure 14.1% lower than the same period last year, when its income exceeded 350 million euros, as reported this Wednesday by the real estate developer.
Most of the income obtained by the company between January and September (289 million euros) came from its residential business and the rest (13.1 million euros) from the sale of land.
Metrovacesa’s gross developer margin rose to 22.4% at the end of September, 1.2 points above that registered in the first nine months of last year.
For its part, the gross operating result (Ebitda) of the real estate developer stood at 29 million euros until September, compared to 34.1 million euros in the first nine months of 2022, which implies a decrease in values. relatives of almost 15%.
Metrovacesa delivered 982 homes in the first nine months of this year, 410 of them in the third quarter, and expects that a large part of the deliveries planned for the entire fiscal year of 2023 will be concentrated in the fourth quarter of the year. In fact, as of September 30, the developer has more than 800 homes completed and sold, pending delivery.
The company achieved pre-sales of 1,402 units during the first nine months of the year, a figure 5% higher than that of the same period in 2022. In this sense, Metrovacesa has highlighted that the third quarter has been “the strongest” in terms of this year, with 494 pre-sales, a figure that is 37% higher than that registered in the same three months of last year.
Following the results of the first nine months of the year, the company has confirmed its annual objective of achieving free cash flow generation of between 100 and 150 million euros for this year.
Jorge Pérez de Leza, CEO of Metrovacesa, highlighted that the tone of residential demand “continues to be good.” “We continue to maintain strong visibility regarding deliveries for the 2023-2025 period, which allows us to maintain our strategic focus and operational objectives,” he stressed.
Metrovacesa has also announced that it will submit to the approval of its next extraordinary general meeting of shareholders, set for November 28, the payment of a new dividend on December 21 of 0.33 euros per share, to which it will allocate a total of 50 million euros.
In this way, the accumulated dividends paid by Metrovacesa since its listing in 2019 now reach 522 million euros (3.44 euros per share).
At the meeting that will examine this dividend, it is also expected to approve the entry of a new director at the proposal of FCC, with which the total number of members of the company’s highest executive body will increase to 13 people.
