Vía Célere obtains the best results in its history, with adjusted EBITDA of 93 million euros in 2020
· March 29, 2021 |
- Following the delivery of 1,932 homes in 2020, Vía Célere's turnover increased by 81% to 657 million euros.
- The company ended the year with a cash position of more than €141 million, a reduction of €227 million in corporate debt and an LTV ratio of 17%.
- The results demonstrate the company's solid business strategy, the great commercial attractiveness of its developments and reinforce Vía Célere's leadership in the Spanish development sector.
Vía Célere today announced its financial results for 2020, with the best figures in its history. The company has achieved a net profit of 49.7 million euros, which implies a growth of 121% compared to the 22.4 million euros in 2019.
Likewise, the developer's revenues amounted to €657 million in 2020, up 81%, after obtaining the highest number of deliveries in the Spanish residential market, with 1,932 homes, the highest figure achieved by a residential developer in the last decade. Adjusted EBITDA stood at €93 million, up 135% compared to 2019.
In parallel, these results have been accompanied by firm financial discipline, which has enabled the company to reduce its adjusted net debt during 2020 by 277 million euros and to end the year with a cash position of 141 million euros. In addition, the company's LTV ratio stood at 17% at the end of 2020.
These figures demonstrate the strong growth that the company continues to experience, in line with its strategic plan, its responsible financial management, the robustness of its business model and the attractiveness of its promotions.
According to José Ignacio Morales Plaza, CEO of Vía Célere, "we are very satisfied and proud of the results we obtained in 2020, which were the best in the history of Vía Célere. And they have double merit due to the particularly challenging circumstances in which they have been produced. Despite this context, our company has demonstrated the great resilience and solidity of our operational and financial structure. These results also serve to further consolidate our position as the leaders in our sector. In this regard, I would like to thank our customers and shareholders for the trust placed in us throughout 2020 and, of course, to highlight the performance and dedication of all our professionals in such difficult circumstances".
Diversification of markets and a commitment to large urban centres.
Vía Célere has a land bank comprising land for more than 21,000 homes in the main Spanish provinces, with a selective presence in Portugal. In addition, the company currently has 3,408 homes under construction and a portfolio of 4,791 units for sale.
As part of its diversification strategy within the Iberian Peninsula, Vía Célere has opted for the markets with the highest demand, as reflected in the figures obtained in 2020, with deliveries made in seven different provinces. Among them, the most important market has been Madrid, where it has reached the figure of 933 deeds, followed by the autonomous community of Andalusia, paying special attention to Malaga, with 404 homes, followed by Seville, with 131 units. Barcelona was another market with a major role in Vía Célere's plan for 2020, with 200 homes deeded, followed by Valladolid, with 104 units, Valencia, with 88, and A Coruña, with 72.