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Haya Real Estate obtains 272.7 million euro in earnings in 2018
29 March 2019 | Observatorio Inmobiliario

Haya Real Estate presented its results for 2018, reaching 4.794.2 million euro, 13% more than in 2017, with 30.000 more units sold and 20.000 loans recovered during the year.

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The earnings reached 273.7 million euro, which represents a yoy growth of 7% due to the increase in commissions from activity and management and the allocation of other earnings. The operational results (adjusted EBITDA) reached 132.6 million euro, 9% less than in the same period of the previous year as a consequence of the rise in operational and personnel costs for the REOs portfolio performance and the reinforcement of key corporate functions. The company maintained an adjusted EBITDA margin of 48%.

During 2018, Haya registered a strong cash generation of 122.6 million euro, 23% more than in December 2017, which represents a conversion ratio of 92%.

In this period, Haya managed around 40.000 million euro in assets under management, following five new contracts worth 4.000 million euro, which includes Bankia’s renovation for example.