- SALES
- The Spanish homebuilder reported total net sales of €233 million, up 6% vs Q1 2022/23 (€220 million), corresponding to 581 units, up +3% (449 Build to Sell, or BTS, units and 132 Build to Rent, or BTR, units).
- The average selling price (ASP) for BTS came to €465,000, 21% higher than the ASP of all BTS units sold in FY 2022/23.
- The increase in sales reflects the market position of AEDAS Homes’ developments and the resilience of its target customer in the mid-high segment.
- Q1 2023/24 FINANCIAL RESULTS
- The company generated total revenues of €113.4 million (+10% vs Q1 2022/23), delivering a gross margin of €29 million, or 26%, in line with expectations, and EBITDA of €10 million (+20% vs Q1 2022/23).
- These revenues derived primarily from the delivery of 337 homes to private customers between April and June 2023.
- The homebuilder’s Order Book, with close to 4,000 units sold, is valued at €1,349 million, €120 million more than at 31 March 2023.
- VISIBILITY
- At the end of June 2023, AEDAS Homes had over 11,000 active units, of which 790 were already completed and 6,165 under construction, after obtaining Works Finalisation Certificates for 226 units and breaking ground on 651 units between April and June.
- The homebuilder’s good visibility, both in terms of sales and units under construction, confirms its goal of generating over €1 billion in revenue annually.
- David Martínez, CEO of AEDAS Homes: “Despite the current context of economic uncertainty, AEDAS Homes is reiterating its annual goal of more than €1 billion in turnover and its commitment to delivering attractive shareholder returns, thanks to its leading market position, operating strength and financial prudence.”
