AEDAS Homes, the Spanish homebuilder that has just presented the strongest annual results in company history, is making steady progress on achieving its 2023/24 goals.
The developer currently has strong visibility on future earnings, with 75% of the homes slated for delivery this year and 32% slated for 2024/25 already forward sold, putting it in position to surpass the €1 billion revenue barrier in both years, after generating a record €920 million in 2022/23. As of 31 March 2023, the company’s Order Book stood at 3,703 units—3,136 Build to Sell (BTS) and 567 Build to Rent (BTR)—and was valued at over €1.2 billions.
The homebuilder has an optimistic outlook on the future, highlighting that the fact that the sector enjoys solid market fundamentals that point toward long term growth, with demand for new-build housing continuing to demonstrate resilience, which is partly due to growth in the number of households in contrast to scarce supply of new build homes, which remains under 90,000 completed units per year. Moreover, AEDAS Homes stresses that the prospects for economic growth in Spain shows positive signs, as well as a stable labor market, with over 20 million in employment.
AEDAS Homes closed out its 2022/23 fiscal year lifing net profit by 13%, to €105 million, and adjusted EBITDA by 10%, to €164 million, on the back of delivering a record 3,544 homes to customers: 2,120 BTS units, 610 BTR units and 814 units via its asset-light Real Estate Services line, through both co-investment structures and end-to-end project management structures.