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Aedas Homes (AEDAS) investor relations material
Aedas Homes Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record revenue above €1.15bn and net profit of €150m for FY 2024/25, driven by strong sales, home deliveries, and favorable Spanish market conditions.
Delivered 5,211 homes, including 3,224 BTS/BTR units and 2,060 affordable rental units, maintaining sector leadership.
Order book value increased to €1.66bn, providing high revenue visibility for the next two years.
Significant land investments (€450m), including Grupo Priesa and Habitat acquisitions, expanded the land bank and support future growth.
Launched new ESG Strategic Plan 2024-2026, emphasizing sustainability, energy efficiency, and circular economy initiatives.
Financial highlights
Total revenue: €1,156m (+1% year-over-year); development revenue: €1,028m (+8%).
Gross margin: 21.7% (down from 22.4%); EBITDA: €164m (margin 14.2%).
Attributable net profit: €149.7m (+37% year-over-year); EPS: €3.47 (+37%).
Net margin: 12.9% (up from 9.5%); ROE improved to above 15%.
Free cash flow reached nearly €175m, reducing net financial debt by €44m.
Outlook and guidance
Revenue visibility of €1bn annually for the next two years, with 76% of FY25/26 and 39% of FY26/27 sales already covered.
Land bank supports development of over 20,000 units, with nearly 14,000 active and 80% on the market.
Gross development margin for build-to-sell expected to exceed 25% in 2025.
Continued focus on product diversification (flex living, concessions, affordable housing) and co-investment growth.
Minimum dividend policy of 50% of attributable net income, with potential for additional payouts if LTV remains below 25%.
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