Aedas Homes has once again outperformed. The developer has presented its results for the fiscal year 2023/24, a year that ended with a 15% increase in net sales, reaching 2,503 units, representing new revenues of 962 million euros. At the close of March 31, Aedas had a total sales pipeline of 3,367 units, divided between 2,856 Build to Sell (BTS) and 511 Build to Rent (BTR), valued at a total of €1,242 million. This volume of bookings provides high visibility for the next two years, with delivery coverage of 67% for the 2024/25 fiscal year and 37% for 2025/26.
In fact, the company has highlighted its new investments, with more than 220 million euros to develop a land bank capable of housing more than 14,200 homes after adding more than 2,500 units in the year. It is estimated that this new land will generate revenues in excess of 900 million euros in the expected deliveries, mainly between fiscal years 2026-27 and 2028-29.
In this way, the developer expects to continue to grow its portfolio. During the year, it recorded 9,888 active units, of which 77%, equivalent to 7,574 units, were in the market with an attributable sales value (GDV) of 3,838 million euros. More than 5,000 of these units were under construction, with over 1,100 already completed and in the delivery process. In addition, the company had close to 900 approved licenses and more than 1,800 homes pending building permits.
Alberto Delgado, chief business officer of Aedas Homes, said: “These good operating figures confirm our execution capacity and highlight the quality of the AEDAS Homes team”, and anticipated that the company intends to continue to exceed 1.1 billion euros in revenues in the next few years.
Aedas Homes closed fiscal 2023/24 earning for the first time more than 1 billion euros (exactly, 1.145 billion, an increase of 24.4%), with net attributable profit of 109 million (an increase of 3.6%) and EBITDA of 173 million (an increase of 5.3%), mainly due to the delivery of nearly 3,000 homes.
