26 April, 2017
YTD development pre-sales 60% ahead of forecast; robust ancillary cash flow supporting core business expansion; first delivery at expected margin
Madrid, April 26th, 2017.- Neinor Homes just submitted to the CNMV, the Spanish stock regulator, the results for the quarter ended March 31st. You can download the quarterly presentation clicking HERE.
Highlights below:
Juan Velayos, CEO of Neinor Homes, stressed that “the Company had a robust performance in the first quarter, that puts it on track to achieve the yearly target. Very strong pre-sales in a traditionally slow quarter, solid stream of acquisitions above target margins, accelerated development activity with a clear focus on margin protection, one development fully delivered, and the ancillary businesses providing steady cash flows to finance the growth”.
The Company, which trades in the Spanish stock-market since March 29th under ticker-symbol HOME, will present its quarterly results via webcast at 18.45CET.
About Neinor Homes
Neinor Homes is the leading residential developer in Spain with the largest and best quality land bank in the country, with an investment totalling more than 1.1 billion euros. With a buildable area of approximately 1,250 km2, divided between Madrid, Catalonia, Balearic Islands, Basque country, Andalusia and Valencia.
Its 30-year track record as a residential developer took a new dimension on March 29th 2017, when Neinor Homes shares were listed on the Spanish continuous market and became the largest ever European residential developer IPO. Neinor Homes continues to drive the change in the sector basing its daily activity on three pillars: institutionalisation, product and customer.