Lar España Real Estate SOCIMI
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Lar España Real Estate SOCIMI (LRE) investor relations material

Lar España Real Estate SOCIMI has been delisted

Lar España Real Estate SOCIMI Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Lar España Real Estate SOCIMI S.A
Q4 2024 earnings summary6 Mar, 2025

Executive summary

  • Consolidated revenue reached €91.8M in 2024, mainly from rental income, with a 96.8% occupancy rate across 479,487 sqm of retail and commercial space.

  • Net consolidated profit was €60.6M, up from €36.8M in 2023, driven by positive revaluation of investment properties and cost control.

  • Helios RE, S.A. acquired 92.17% of Lar España via a public tender offer, leading to delisting from Spanish stock exchanges and relisting on BME Scaleup in February 2025.

  • The group distributed €66.1M in dividends in 2024 and proposed a further €355.6M for 2025, equating to €4.25 per share.

  • The company maintains a strong sustainability focus, with 100% of assets BREEAM certified and ongoing ESG initiatives.

Financial highlights

  • EBITDA reached €53.2M, with a positive fair value adjustment of €19.3M on investment properties.

  • Net financial debt stood at €420.9M, with a leverage ratio of 32.35%.

  • Cash and equivalents at year-end were €246.9M, with ample liquidity and no significant off-balance sheet exposures.

  • ROE was 6.97% and ROA 3.83%, both improved year-over-year.

  • The group completed partial bond buybacks, reducing financial expenses and registering a €20.5M gain in 2023.

Outlook and guidance

  • Management expects continued positive performance in 2025 and beyond, supported by a high-quality retail portfolio and active asset management.

  • The company aims to maintain leadership in Spanish retail real estate, focusing on value creation, sustainability, and stable returns.

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Frequently asked questions

Lar España Real Estate SOCIMI S.A. is a Spanish real estate investment company focused on commercial properties, primarily retail centers and parks. The company acquires and manages income-generating assets throughout Spain. It is headquartered in Madrid, Spain, and its shares are listed on the BME.