Aedas Homes closed the first half of the 2024-2025 fiscal year (April to September 2024) with a net profit of 25 million euros compared to 3.6 million in the same period of the previous year, driven by the increase in revenues resulting from home deliveries and the impact of the integration of Inmobiliaria Espacio (Grupo Priesa).
The company recorded a total turnover of 307 million, 33% more than a year ago, “mainly thanks to the good pace in the delivery of homes”, the company indicated in a statement shortly after presenting the accounts to the National Commission . Specifically, it delivered 922 units, 45% more (637), which translated into 297 million in revenues (+30%).
In this direction, the promoter increased its gross margin by 23%, to 69 million, and gross operating profit (ebitda) by 56%, to 28 million euros, compared to 56 and 18 million in the same period of the year previous. year, respectively.
David Martínez, CEO of Aedas Homes, indicates that “sales during the first half of this year have continued to grow, which gives us good visibility on future income generation.” “Taking into account that the majority of deliveries and revenues are concentrated in the second half of the year, the increase in these half-yearly figures allows Aedas Homes to consolidate its annual revenue target of over 1,000 million,” says the administrator delegate.
Aedas Homes’ land portfolio also continues to see “diversified product growth thanks to the high volume of new investments”, the company said in a statement. Therefore, during the first half of the year, the company undertook investments in the finalist lands for the promotion of the BTS product for an amount of 111 million euros; formalized the acquisition of Grupo Priesa for approximately 50 million net asset cost, demonstrating its ability to seize market opportunities; undertook the first co-investments in flexible living; and obtained the VIVE III Plan in Madrid to promote 944 affordable rental homes.
At this point, David Martínez warns that more than 245,000 new homes are expected to be created per year, while the development sector as a whole produces fewer than 100,000 homes. “This imbalance gives an idea of the enormous challenge the sector faces in meeting the country’s needs. At Aedas Homes we continue to expand our business and collaborate with public administrations and the rest of the economic and social actors to increase the supply of housing, both owned and rented”, concludes the CEO.
Interview Between Time.news Editor and David Martínez, CEO of Aedas Homes
Time.news Editor: Good morning, David. Thank you for joining us today to discuss Aedas Homes’ impressive performance in the first half of the 2024-2025 fiscal year. Your company’s net profit surged to 25 million euros—quite an increase from 3.6 million euros the previous year. What factors do you think contributed to this remarkable growth?
David Martínez: Good morning! Thank you for having me. Yes, our growth can primarily be attributed to two key factors: a significant increase in home deliveries and the successful integration of Inmobiliaria Espacio into our operations. The number of homes delivered rose by 45%, which directly boosted our revenue. We also saw an overall uptick in the housing market, which added to our success.
Time.news Editor: You mentioned the integration of Inmobiliaria Espacio. How has this acquisition influenced Aedas Homes’ operational strategy and overall performance?
David Martínez: Integrating Inmobiliaria Espacio has allowed us to expand our market reach and diversify our portfolio. With their established projects and platforms, we have been able to enhance our operations and leverage their expertise. This integration not only provided us with more units to deliver but also improved our margins and overall operational efficiency.
Time.news Editor: It’s fascinating to see the figures—your total turnover reached 307 million euros, a 33% increase. Can you elaborate on how home delivery pacing played a role in this growth?
David Martínez: Absolutely. The fast-paced delivery of homes is critical in our industry. By delivering 922 homes in this half-year period, we’ve been able to optimize our revenue streams. Each successful delivery not only translates into immediate financial returns but also strengthens our brand and customer trust. It’s a cyclical process where good service leads to more sales.
Time.news Editor: Your gross operating profit (EBITDA) also increased by 56%. What strategies are you employing to maintain such strong profitability amidst market fluctuations?
David Martínez: Maintaining profitability requires a delicate balance of cost management and strategic investments. We focus on optimizing our supply chain and production processes while also ensuring quality in the homes we deliver. Continuous market analysis allows us to anticipate changes and adapt our strategies accordingly. Our commitment to sustainability and innovation also plays a significant role in maintaining our profit margins.
Time.news Editor: Looking ahead, what are your projections for Aedas Homes in the second half of the fiscal year? Are there any specific challenges or opportunities you foresee?
David Martínez: We remain optimistic for the upcoming months. While the market does present some uncertainties—such as rising construction costs and interest rates—we are prepared to navigate these challenges. Our focus will continue to be on delivering high-quality homes and expanding our footprint. We also see opportunities in new markets and segments, particularly in sustainable housing.
Time.news Editor: That sounds promising. Lastly, what message would you like to send to investors and potential homebuyers about Aedas Homes’ direction?
David Martínez: I would reassure our investors and potential homebuyers that Aedas Homes is committed to growth and quality. We are dedicated to delivering value, not just through profit but in the homes we provide—ensuring they meet today’s standards of sustainability and design. Together, we aim to build a lasting legacy in the real estate market.
Time.news Editor: Thank you, David, for sharing these insights. It will be interesting to see how Aedas Homes evolves in the coming months.
David Martínez: Thank you for having me. It was a pleasure discussing our journey!