AEDAS Homes, the leading residential development platform in Spain, posted record-level revenue of €1.16 billion, EBITDA of €164 million, and attributable net profit of €150 million in its FY 2024/25, which ended on 31 March. These strong figures are mainly driven by a significant increase in the delivery of new-build homes.
The company achieved its Business Plan and, for the second consecutive year, surpassed the €1.1 billion revenue threshold. During this past fiscal year, it delivered 3,151 units through its BTS and BTR line, plus 2,060 affordable rental units, resulting in a historic total of 5,211 homes delivered.
Strong visibility: Order Book stands at over €1.6 billion
The company’s promising outlook is further reinforced by a record number of forward sales during the fiscal year, with 3,224 units sold for a total of €1.40 billion. As such, at the end of March, the total Order Book comprised 3,740 BTS units with a future revenue value of €1.66 billion, providing visibility with excellent delivery coverage for the next two fiscal years: 76% for 2025/26 and 39% for 2026/27.
From an operational standpoint, as of 31 March, the developer managed a land bank with a development capacity for 20,200 units; of these, nearly 14,000 were active and 80% on the market, further strengthening visibility on the company’s operational activity for upcoming years.
Solid credit profile
The residential developer closed out its fiscal year with a solid credit profile, following a 14% reduction in debt levels over the past year, from €310 million down to €266 million, while available cash increased by 22%, from €239 million to €292 million.
In light of these strong financial results, its robust cash position, and strong visibility over future revenues, the company will propose the distribution of a €3.15 dividend per share at the upcoming Annual General Meeting.
Diversified and resilient business growth
Over the past fiscal year, AEDAS Homes led land investment initiatives with numerous transactions, such as the purchase of a land bank from Habitat Inmobiliaria and the acquisition of Grupo Priesa. Overall, the company committed €450 million, securing a land bank for future deliveries in dynamic and resilient areas across Spain.
Furthermore, the company significantly boosted its Affordable Housing and Flex Living division through three new co-investments, and it also launched a new co-investment focused on BTS. With these initiatives, the company raised nearly €150 million in capital, confirming AEDAS Homes' reputation as the go-to industrial partner in Spain.
“We are very pleased to have delivered more than 5,000 new homes to our customers and institutional clients, returning excellent financial results to our investment partners and shareholders,” stated David Martínez, CEO of AEDAS Homes.
