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Lar España Real Estate SOCIMI (LRE) investor relations material

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.

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