All Iron increases its income by 50% between January and September to 5.8 million euros

The company’s revenue grew by 50% – 9% in comparable terms – to €5.8 million during the first nine months of 2024. Rental income from accommodation increased by 84% – 10% in comparable terms. comparable -, up to 4.7 million euros. For its part, EBITDA amounted to 3.8 million euros after growing by 94%, reaching a revenue margin of 67%. The company’s debt level, which measures the proportion of debt to the value of the portfolio, stood at 33% of net debt at the end of the third quarter.

All Iron’s results have been boosted by the improvement in activity, as well as by the contribution to income from three new assets – Barcelona Ronda and Madrid Chamberí – inaugurated in the second half of 2023, and Bilbao Ledesma – inaugurated in May 2024. Accommodation rental income grew by 84% during the first nine months of 2024 compared to the same period in 2023. From an operational perspective, income generated in the properties grew by 12% in comparable terms and operating profit improved by 14%.

At an operational level, the average occupancy achieved by the portfolio during the first nine months of the year was 85% in the case of apartments and 75% in the case of hostels. According to the firm, prices also recorded a strong rebound during this period thanks to strong demand. In the case of short-stay apartments, an average price of 125 euros was reached, 3% higher (in comparable terms) than that registered in the same period last year. In the case of medium-stay apartments, the increase in the average price was 35%.

The sales margin stood at 61% in the case of apartments, in line with the first nine months of 2023, and 38% in the case of hostels (4 points more than in the same period of 2023). .

Boost to the growth plan

The company continues with the development of its growth plan, with the recent acquisition of an asset in Barcelona. The building, located in the 22@ technological district, has 97 short and medium-term apartments and is already in the exploitation phase, with activity licenses in force. The property has an area of ​​more than 8,000 square meters. The company reinforces its strategic commitment to Barcelona and Madrid, which after this new acquisition represents around 50% of the value of the portfolio.

This operation fulfills the purpose with which the capital increase announced on November 26 of this same year was launched. “With this acquisition, All Iron consolidates itself as the listed company with the largest institutional portfolio of short and medium-term apartments,” says the firm. Altogether, All Iron’s portfolio is worth more than €300 million and focuses on premium locations. Currently, the company has 19 assets in its portfolio that add up to nearly 1,000 units in total.

Within these assets, 10 are in operation (Vitoria, 3 in Bilbao, San Sebastián, Málaga, Córdoba, Pamplona, ​​1 in Barcelona and Madrid), another 5 under construction (2 in Seville, Valencia, Málaga and Alicante), 3 in development (2 in Madrid and Málaga) and the recent acquisition in the 22@ technology district in Barcelona. That is, 80% of the value of the portfolio is already in operation, under construction or licensed.

ESG Plan

In 2023, the company launched its ESG strategic plan regarding sustainability. Since then, it has worked on the continuous implementation of measures in the environmental, social and governance fields. The company highlights that after participating for the first time in the ESG sustainability ranking of the European agency GRESB, it gave it a score of 72/100, “a reflection of the firm commitment achieved by the company, which continues on the path of continuous improvement and implementation of your plan.