Neinor Homes has just released the Q1 results for 2020. A webcast to discuss the company’s performance will occur tomorrow (May 7^th) at 13:00 Madrid / 12:00 London time (details below).

A solid start in Q1 2020

• A profitable first quarter: €7.9m of EBITDA and 28% development margin
• Strong order book
  • 353 pre-sales in Q1 for a cumulative total of 2,834 units (c.€930m)
  • 2,120 contracted (714 reservations) –16% of price paid up-front
  • 60% of order book with Family Homes Protection insurance (insurance company to cover remaining installments in case of unemployment or health issues)
• Neinor Rental division gathering speed

End of April update

• Financial strength:
  • €40m corporate loan signed to further strengthen cash position. Pro-forma cash end of April €130m+
  • No need to refinance corporate loans for 12+ months
  • €850m of developer loans committed
• COVID-19 situation and status:
  • Construction: all sites open except March 30th-April 13th
  • We launched “Stay at home” and “Vamos” campaigns and virtual visits, resulting in 64 pre-sales in April
  • Working on various public-private initiatives to leverage our existing capacity

Full presentation and Webcast details

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

https://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/jddvtnzp. 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.

Upcoming Virtual Conferences  

The Company will attend a number of virtual conferences over the next few weeks, including “Made in Iberia” (originally in Paris), Goldman Sachs’ European Financials Conference (originally in Rome) and Morgan Stanley’s Europe & EEMEA Property Conference (originally in London). As we strive to keep in touch with investors, please get in touch with our investor relations team to ensure your slot at those conferences or to organize ad-hoc video-calls.