Vía Célere increases EBITDA by 153%, achieving record-breaking deliveries in 2024

Vía Célere, a leading Spanish residential real estate developer, achieved a record-breaking year in 2024, increasing adjusted EBITDA by 2.53 times to reach €108.8 million and once again surpassing its all-time high in units delivered.

Throughout the year, the company delivered a total of 2,270 units, 1,534 in its Build-to-Sell business line and 736 in the Build-to-Rent segment. This growth drove Vía Célere’s revenue to €570.3 million, a 58% increase from 2023, while net profit reached €64.6 million.

Vía Célere maintained its financial rigor and discipline, significantly reducing its debt in 2024. It decreased its net adjusted debt by 21%, bringing it to €162 million, representing a €43 million reduction. As a result, the Net Adjusted Loan to Value stands at 15%.

Continued strong results have been driven by solid sales performance and a strategic focus on investing in urban areas with high housing demand.

Vía Célere holds one of the largest and highest-quality land portfolios in Spain, with the capacity to develop 13,500 new homes. The developer currently has more than 4,500 units at various stages of production, nearly 3,000 of which are under construction.

As part of its growth strategy, Vía Célere continues to strengthen its capacity with several land acquisitions in negotiation in cities such as Madrid, Valencia, Barcelona, and Sevilla, which will enable the construction of more than 1,000 homes. The company has also recently completed the purchase of 24,000 square meters of land in Sevilla, paving the way for the development of 189 units.

“These results confirm the strength of our business model and our ability to achieve sustainable growth in the Spanish residential market. We will continue to expand our land bank, focusing on areas with the greatest development potential to meet the growing demand for new-build housing in Spain,” stated Héctor Serrat, CEO of Vía Célere.

“Vía Célere has demonstrated its ability to deliver high-quality homes to the Spanish market while investing in strategic opportunities that reinforce its market-leading position. Building on a strong brand and continued strong results, Vía Célere is well positioned for future growth,” added Tony Iannazzo, Partner at Värde and non-executive member of the board of Vía Célere.

Another key milestone in 2024 was the refinancing of the corporate bond through a €191 million green syndicated loan, led by BBVA and Santander, which will provide financial stability over the next 4 years.

Growth outlook and new developments

In 2024, Vía Célere began construction of 993 units across 10 strategically located developments throughout Spain. The company has an order book of 2,100 units, valued at €588 million, with deliveries scheduled throughout 2025, 2026 and 2027.

During 2025, the company plans to begin construction on 21 projects, which are already in development and will result in an additional 1,800 new homes. This will further strengthen its ability to meet the growing demand for new-build housing in the Spanish market. Additionally, Vía Célere intends to launch several developments in the country’s major urban areas, including Los Berrocales and Los Cerros in Madrid, two projects located on the former Cruzcampo factory in Sevilla, and Cala de Mijas and Vélez in Málaga.