Metrovacesa achieved a net benefit of 15.9 million euros In 2024, in the face of the losses of almost 21 million it registered in 2023, as reported on Wednesday the real estate promoter to the National Securities Market Commission (CNMV).
The company obtained some record income of 657.8 million euros In 2024, 12.2% higher than those of 2023, after reaching record of deliveries, with 1,996 homesbrushing its objective of 2,000 homes delivered before planned. In the last quarter of 2024, the promoter delivered more than 1,200 homes.
The gross exploitation result (EBITDA) of Metrovacesa amounted to 73.4 million euros in 2024, 1.1% lower than in 2023, with a margin of 11.2%, compared to 12.7% of the previous year.
The promoter stressed that she exceeded her forecast of ‘Cash Flow Operational’reaching 146.5 million euros, in front of the forecasts to place it between 100 and 125 million euros.
«2024 results reflect a Very solid operational evolutionthat exceeds our initial forecasts in terms of income and ‘Cash Flow’, and that reaffirm the strength of our strategy and the efficiency of our internal equipment and processes, ”said the CEO of Metrovacesa, Jorge Pérez de Leza, in a release.
Metrovacesa has already delivered the first six promotions in the field of Natura Island, Altas Palmas,In the city of Seville, the largest residential development project of the real estate promoter. In the field of Natura Island, the company has a total of 23 promotions in progress with more than 1,500 homes, including 4 protected housing promotions.
«After the delivery of the first promotions of Isla Natura in Seville, We hope to replicate success Soon in other large soils in Metrovacesa management such as hills in Madrid, Vinival in Valencia, or silk-peppele in Barcelona, with a commitment determined by quality and sustainability in our projects, ”added Pérez de Leza.
Total preventive portfolio of 1.2 billion euros
Metrovacesa has also highlighted that its commercial activity in 2024 was “satisfactory”, with a volume of presales that increased by 12%with a total of 660 million euros, finishing the year with a total presale portfolio of 1.2 billion euros.
The average price per unit in presales grew by 6%, to 342,000 euros, according to the promoter.
The company continued advancing in 2024 in its Rotation and optimization strategy of its land portfolio, with the sale of 69.7 million euros and the acquisition of 62.4 million euros in new lands in strategic locations.
At the end of 2024, the company had binding private contracts for future soil sales worth 98.5 million euros, a 140% more than in 2023, which will be completed in sales between 2025 and 2026.
Facing this year, Metrovacesa expresses “very positive perspectives”, with a forecast that its operational cash ‘is located above 150 million euros, with Increases both in residential promotion and land sales.
The promoter already has sold 80% of housing deliveries planned in 2025 and 62% of those of the year 2026.
The company has assured that it will keep its Shareholders’ remuneration policy The majority of the ‘Cash Flow’ generated every year. The next dividend is scheduled for the month of May and its amount, still pending to be determined, it must be approved at the next General Board of Shareholders of Metrovacesa.
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