Metrovacesa : 2022 trajectory in line with expectations but lower visibility further out
>H1 2022 operating performance in line with the full-year targets - Metrovacesa reported H1 2022 net profit of € 12m (vs a net loss of -€ 2.2m in H1 2021) and operating cash flow of € 76.3m (+35.3% y-o-y) vs 2022 guidance of € 150m:Sales in line but decline in momentum in Q2: Metrovacesa sold 980 homes in H1 2022 (with 412 in Q2), an increase of 3% y-o-y, at an average price of € 311k/unit (+8% y-o-y) and in line with its full-year target for deliveries. The abso...Metrovacesa SA, formerly Metrovacesa Suelo y Promocion SA, is a Spain-based real estate developer. The Company specializes in construction and sale of sustainable housing, both single-family and multi-family residential properties. Its activities also include promotion, urbanization and parceling of real estate in general, as well as real estate management for own benefit or on behalf of third parties. Its asset portfolio includes more than 6 million square meters of building land across Spain, as well as already developed properties in cities, such as Malaga, Almeria, Cordoba, Barcelona and Madrid, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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