- Spanish residential developer AEDAS Homes expects to set a record for total revenue generated, for the second year in a row, with over €1.1 billion in turnover during its 2024/25 fiscal year (April 2024 to March 2025).
- Over the 12-month period, the developer delivered 3,070 homes, up 8% year-on-year—2,559 to individual customers through its Build to Sell (BTS) line and 511 to institutional clients through its Build to Rent (BTR) line— bringing in combined revenues of €1.03 billion (up 8%).
- Additionally, the company delivered its first 2,060 affordable units for the Madrid Region’s Plan Vive I public-private partnership scheme, confirming its social commitment to providing access to housing, as well as 81 units through the two co-investment vehicles formalised in FY 2023/24, bringing the total volume delivered in the year to 5,211 units.
- The Spanish developer also set a new annual record in its sales activity, with 3,275 BTS units forward sold, up 51% on last year’s 2,176 units sold, for a total of €1.42 billion (up 58%) at an average sales price of €435,000.
- The company is forecasting EBITDA in the range of €160-170 million, a gross development margin on BTS products of 24%-25%, and net financial debt in the range of €275-300 million, which demonstrates the organisation’s financial strength.
Outlook and visibility
- As in previous years, AEDAS Homes is facing FY 2025/26 from a position of operational and financial strength, thanks to broad visibility on its future goals, as its sales coverage ratios for deliveries for the next two fiscal years, 2025/26 and 2026/27, are over 70% and 30%, respectively.
- Form an operational standpoint, AEDAS Homes had 13,809 active units under management as of 31 March 2025, of which 7,454 were under construction, 2,819 in the design phase, 1,941 on the market, and the remaining 1,595 completed and ready for delivery.
- Finally, the company intensified its land investment and M&A efforts with transactions such as the purchase of a land portfolio from Habitat and the acquisition of Grupo Priesa. Overall, the company’s total investment volume reached €450 million, which will be allocated to the development of BTS, BTR and flex living products, as well as concessions for affordable rental housing. Part of this investment was structured through four new co-investments with partners who committed an aggregate of €150 million in capital, confirming AEDAS Homes' reputation as the leading industrial partner in the sector in Spain.
"Commitment to growth"
- David Martínez, CEO of AEDAS Homes: "In FY 2024/25, we increased activity by taking advantage of market opportunities and the strength of demand. Our solid operational, financial, and investment performance provides us with excellent visibility on our business in the coming years, in which we expect to consistently achieve our objectives, including continuing to offer attractive returns to our shareholders”.
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