29 July, 2020

H1 2020 Results Presentation

noticia

Neinor Homes has just released the H1 results for 2020. 

A webcast to discuss the company’s performance will occur tomorrow (July 30th) at 13:00 Madrid / 12:00 London time (details below).

Second quarter marked by the recovery of pre-sales after the lock-down and further strengthening of the financial position:

  • Profitable despite the COVID outbreak: €100m+ revenues, 28% gross development margin and €15m EBITDA
  • Sales and Construction progress:
    • Commercial activity recovery: Pre-sales of 225 units in June (332 in Q2)
    • 686 units pre-sold in H1 taking order book above 3,000 units
    • 49 sites (4,500+ units) WIP + c.350 units finished (in notarization)
  • Rental Platform: 300 units in Construction + 300 to start works in the upcoming months

Short-term contingency plan executed:

  • Capex and corporate financing:
    • 100% developer financing committed for 2020, 2021 and most 2022 developments - c. €280m signed YTD
    • New €40m corporate line to strengthen cash position
  • Strong pre-sales: Implementation of Virtual Visits + First Units pre-sold 100% online
    • Exceptional cash position with €130m+ on balance sheet to face the new opportunities arising in the market

Full presentation and Webcast details

Presentation: you can find the full presentation on the following link

https://www.neinorhomes.com/shareholders-and-investors/financial-information/financial-reports.

Webcast: You can register and participate in tomorrow’s webcast (at 13:00 Spain / 12:00 UK) through the following link: https://edge.media-server.com/mmc/p/v7ksnacm. Phone access will be available for those of you willing to ask live questions during the Q&A session. Please contact the Investor Relations team to get dial-in details at [email protected].

Upcoming Virtual Conferences  

After the Summer break we will attend the virtual Caixabank’s XVII Iberian Conference in September; and as the year progress we will be in touch as we confirm virtual and physical roadshows. Please get in touch with our investor relations team to ensure your slot at those conferences or to organize ad-hoc video-calls.