AEDAS HOMES: VISIT TO THE COMPANY (ANÁLISIS BANCO SABADELL)
AEDAS has held an analyst breakfast (with a visit to its flagship store in Madrid). No new announcements were made and the company reiterated its guidance and the messages conveyed at the 1H’22 earnings presentation (released on 30/11): Pre-sales performance. The company considers that the pre-sales pace continues to be positive even though it is slowding down. The pre-sales coverage practically stands at 100% of the deliveries expected in 2022/23, at around 70% for 2023/24, expecting to reach >30% in 2024/25 at the end of the year.
Aedas Homes is engaged in the housing development business in Spain. The company has a portfolio of approximately 1.5 million square meters of land that it develops for residential purpose. Co. develops multifamily homes for the housing market in Madrid, Catalonia, Levante and Majorca, Costa del Sol and Seville.
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