NEINOR H. overview

Neinor has delivered 2,397 housing units with strong underlying gross margin of 28.5% and reported FY24 adj. Net Income of €69mn, a 5.9% beat to the Company’s guidance High margins and solid cash flow generation took Adj. Net Debt to €238mn by year-end, maintaining a conservative LTV of 16.2% The Company will submit to the next AGM the approval of €125mn in shareholder distributions for FY25 – aiming to distribute a total of €188mn for the following 12-months (16% yield) Neinor has...

Neinor Homes and Banco Santander have reached an agreement to invest more than €60mn to develop 160 ‘flex living’ apartments in the city of Madrid With this agreement Neinor Homes enters a new product vertical within the thriving Spanish living sector further diversifying its housing offering This agreement represents the 8 th JV signed by Neinor Homes since 2023, having raised +€1.2bn, more than doubling the initial expectation set on its Strategic Plan (2023-27) of €500mn Going...

Neinor Homes and Ameris have signed an agreement to co-invest up to €50mn in the Spanish residential sect Both entities acquired a land plot in the province of Valencia to develop 72 newly built homes for sale With the seventh agreement signed, Neinor continues to diversify its co-investor base having reached over €1.1 billion in assets under management, versus an initial objective of €500mn Madrid, 27 january 2025 – Neinor Homes (“Neinor”, HOME.SM), the Spanish leading listed...

In a pre-close update ahead of its FY24 accounts, Neinor Homes confirms that it has fulfilled its FY24 Adjusted Net Income target of €65mn On 24 January, the company will complete the first distribution payment of €62mn (gross €0.83/sh) approved at the EGM held in December 2024 Furthermore, given the fulfilment of FY24 targets, the Board of Directors approved a second distribution of €62mn (gross €0.83/sh), to be paid on 14 March 2024 was the company’s strongest commercialization...

The first payment, amounting to €62.5mn (€0.83/sh), will be made on January 24, 2025, while the second payment of €62.5mn is expected to take place in March 2025 For the first dividend, the last trading day entitled to receive the payment is January 21, 2025 In total, over the next 15 months, the company plans to distribute €250mn to its shareholders – a 21% yield at current prices Madrid, 20 December 2024. - Neinor Homes ("Neinor"; HOME SM), the leading listed residential property...

Neinor’s bond issuance saw strong investor demand upsizing it to €325mn while also improving Neinor’s overall corporate cost of debt to 5.875% (from 6.5%) and extending maturities to 5.25 years (from 2 years) The use of proceeds is mainly focused on the refinancing of the existing corporate debt (€175mn) and the remaining proceeds (€150mn) will be allocated to growth opportunities Even after the upsizing and cost optimization, investors demand has largely surpassed the offer size being...