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.