Results 1H2020
July 28th, 2020
Majestic Heights (Manilva, Málaga)
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2.
Agenda
Table of Contents
- Highlights of the Semester
- Business Update
- Financial Overview
- Closing remarks Appendices
Today's Presenters
Jorge Perez de Leza CEO | Borja Tejada CFO | Juan Carlos Calvo IR |
3.
Pórtico Simón Verde (Sevilla)
1. Highlights of thesemester
Highlights of the semester
Business activity impacted by Covid-19 in 1H
MVC's operational progress
Financial highlights
- Slowdown in housing demand, construction works and administrative licenses in this period
- Promising market dynamics in June-July
- Sector outlook remains highly dependant on the macro recovery
- Revenues up 15% YoY in 1H: delivery of 226 units and €49m in land sales
- Pre-salesof 492 units gross and total backlog of €619m
- Close monitoring of the project portfolio:
- Fully prepared to address a changing environment
- Strong financial situation maintained: 5% LTV and €302m in cash
- P&L influenced by the appraisal value update
- Updated NAV of €17.07/sh provides considerable support to the stock price
A remarkable progress in a tough context
5.
Oceana Views, Le Mirage III y IV (Estepona, Málaga)
2. Business update
Key operational data as of June, 2020
Business
7,893 activeunits | €310k/unit | 5,084 units and | Sales Backlog (2) | ||||||||||||||||
active | ASP (1) | 86 developments under | 2,195 | €619m | |||||||||||||||
133 developments | commercialization | Sold units | €282k/unit ASP (1) | ||||||||||||||||
3,463 units under | 44 developments | ||||||||||||||||||
construction | under construction | ||||||||||||||||||
units delivered | 492 / 290 | €49m | |||||||||||||||||
226 in 1H | units sold in 1H (3) | Land Sales | |||||||||||||||||
6.0 million sqm | c.36,000 | 81.6%(5) | |||||||||||||||||
Buildable | buildable | Fully | |||||||||||||||||
area | units (4) | permitted | |||||||||||||||||
Financials
€2.63Bn | €17.07 per share | 5% | |||
GAV June 2020 | NAV June 2020 | LTV | |||
Notes:
- Average Selling Price, not including future HPA
- Defined as cummulative pre-sales (reservations + contracts) minus deliveries
- 492 gross units and 290 units net of cancellations in 1H,
- Estimated number of units may vary in time depending on the type of projects and maximum buildability
- Calculated on June 2020 appraisal values
7.
Covid update: MVC's view
Sector outlook:
still uncertain
- Demand recovery in June/July is very promising. Both for traditional home buyers and institutional demand. Looking forward to confirmation in coming months
- Still, the sector outlook remains uncertain and highly dependant on the shape of the economic recovery and health evolution
- Housing sector fundamentals suggest a resilient performance and a limited impact on new house prices.
- A cut in the sector's construction starts is likely, given banks' stricter financing criteria and developers' cautious approach
MVC's stance:
remains prudent for now
- Maintained focus on cash preservation policies
- Conservative approach on new launches or construction starts
- Cost containment: savings of >€5m in overheads in 2020
- Postponing €32m non-essential capex in land urbanisation
Close monitoring of MVC's project portfolio
- Client orderbook
- Major advance in transforming client's reservations into contracts: 542 contracts signed during 1H20. An important step ahead of the planned construction starts for 2H
- Cancellations: 200 units in 1H20, a higher rate than usual due to the Covid-19 situation
- Construction works
- Works back to normal progress, after a period of slow production due to the Covid-19 restrictions: an impact of 1 to 3 months per project
- Internal decision to stop works only in 2 projects (210 units)
- Projects under commercialisation
- 86 projects in commercialisation with 5,084 units, 43% of them already sold
- Prepared to accelerate as soon as the visibility improves
- 2,809 units already active in design phase, prior to commercialisation
- Analysing a range of alternatives to boost activity volumes, and launch new units, depending on demand trends
Addressing the changing environment with flexibility
8.
Residential pre-sales: June demand near pre-Covid levels
MVC's commercial activity data in recent months
Rebased to 100 = FY19 monthly average
180
160
140
120
100
80
60
40
20
0
ene-20 | feb-20 | mar-20 | abr-20 | may-20 | jun-20 | |||
Client visits | New contacts/leads | |||||||
New pre-sales (gross) | FY2019 monthly avg = 100 | |||||||
MVC's monthly gross pre-sales
Number of units
146
108 | 112 | ||||
61 | 47 | ||||
18 | |||||
Jan | Feb | Mar | Apr | May | Jun |
2020 | 2019 (ex BtR) |
Digital channels: growing importance to attract clients
% of leads from internet-based channels
78%
73%
62%
Year 2019 | 1Q20 | 2Q20 |
Gradual improvement in activity particularly visible in June:
- MVC's June gross pre-sales of 112 units is near Jun19's or FY19's monthly average (ex BtR)
- The number of client leads, visits and new contacts are all above 2019 monthly average
- With unchanged pricing policy and despite an almost closed market for foreign buyers
- Rising interest on dwellings with a terrace or a garden and in the periphery of large cities
- Higher penetration of online channels: now 78% of MVC´s new leads
Encouraging signs of demand recovery
9.
Sales backlog in June 2020
Sales backlog:
2,195 units and €619m in future revenues
sales value in € m
€619m
€597m | (202) | (226) | ||||
492 | ||||||
€271m | 2,195 | |||||
€135m | 2,131 | |||||
909 | ||||||
541 | ||||||
Dec.17 | Dec.18 | Dec.19 | Presales gross | Cancellations Deliveries | Jun.2020 |
Barcelona | |
Rest | 15% |
31% |
Sales backlog split by province | Madrid | |
Seville | 11% | |
7% | Málaga | |
Valencia | ||
27% | ||
8% | ||
Increased visibility of the orderbook:
- Avg selling price of €282k per unit. Indicates a rising unit price in future deliveries
- Contracts represent 80% of the backlog now (vs 70% in Dec 2019), a stronger client commitment than reservations (20%)
- 43% of the total units in commercialisation are already pre- sold, compared to 40% in Dec 2019 or 24% in Dec 2018
Proportion of units presold
40% | 43% | ||||
24% | |||||
2,931 | 3,247 | 2,899 | |||
909 | 2,131 | 2,195 | |||
Dec.2018 | Dec.2019 | June 2020 | |||
Pre-sold units | Unsold units | % pre-sold | |||
10.
Visibility of projects: units in construction and in commercialisation
Projects in commercialisation and in construction
# of units | 5,378 | 5,084 | |||||
3,840 | 3,383 | 3,463 | |||||
1,222 | 1,329 | ||||||
955 | |||||||
Dec.2017 | Dec.2018 | Dec.2019 | June 2020 | ||||
Units in commercialisation | Units in construction | ||||||
Active portfolio summary | |||||||
• To feed potential deliveries <24 months | |||||||
• €553m of works contracted with 29 companies; | |||||||
In | 55% with large players | ||||||
construction | • 510 units started works in 1H20 | ||||||
3,463 | • Building licenses received: 751 units in 1H20; | ||||||
In | A further 2,207 units under way | ||||||
commerc. | • Average ASP of €304k; 43% already pre-sold | ||||||
5,084 | |||||||
• 314 units started commercialisation in 1H20 | |||||||
Active | |||||||
7,893 | |||||||
units | • Includes 2,809 units in design phase |
- 344 new units launched during 1H20 and 147 were de-activated
Split by province: units in commercialisation
% of units
Madrid | |
Rest-Tier 3 | 6% |
14% | Barcelona |
17% | |
Rest-Tier 1&2 | |
17% | |
Málaga | |
Canary Is. 8% | 25% |
Seville 5%
Valencia
8%
Timing of construction projects
Units in construction, by # of months since start date
1,232
795 | 855 | ||
581 | |||
Avg construction | |||
0 to 6 | 6 to 12 | 12 to 18 | period 18 - 24 months |
> 18 |
11.
Deliveries in 1H20
Delivered units in 1H | Delivered units in 1H | |||
# of units | Split by province | |||
226 | Rest | |||
13% | ||||
Barcelona | ||||
13% | ||||
32 | ||||
1H 19 | 1H 20 | Málaga | ||
36% |
Madrid
38%
Cancelada (Estepona, Málaga)
- 226 units delivered during the first semester with revenues of €47.4m. This includes 80 units notarised in 2Q, despite the restrictions from the Covid-19 lockdown during part of the quarter
- No new occupantion license (LPO) was received in 2Q, therefore all the notarisations are related to projects that initiated the delivery process prior to the March lockdown
- The bulk of the deliveries took place in Madrid, Malaga and Barcelona: 87% of the total
- Gross margin of 16%, which is expected to improve gradually in the coming quarters
Mirador de Guadarrama (Madrid)
12.
Land management: key milestones achieved recently
Land sales in 1H
- Land sales of €48.9m in 1H20, mostly from 1Q
- Sale price is in line with appraisal values (GAV)
- 98% of the value is related to the sale of one plot of land in Valdebebas (Madrid) for office use. The rest are for residential use, in Logroño and Cádiz, where MVC was not planning to develop a project
Significant recent milestones in key plots
Clesa | Seda Papelera |
(Madrid) | (Barcelona) |
Albacerrado
(Tarifa, Cádiz)
Land portfolio by permitting stage
% GAV
Non-Fully Permitted (NFP)
18% | Fully Permitted (FP) | ||
82% | |||
Organised | 4k units | 24k resi units | |
Developable | 6k units | ||
Non-urban 2k units | |||
------------ | |||
12k units | |||
Clesa
Hospital
Ramón y Cajal
4 Torres
Business Area
BP
- Provisional approval"of Modificationof General Plan
- To change the use from industrial to commercial and hospitality
- Located in Madrid city, in a consolidated area
- GAV: c.4% of group total
- Area: 88,792 sqm
- Status: Fully-permitted
Plaza Europa | Barcelona | |
7 min. | ||
City center | ||
Seda - | Fira | 20 min. |
Barcelona | ||
Papelera | ||
7 min.
Train Station
Metro stop. 1 min.
- Initial approval of Modification of General Plan
- To change the use from industrial to residential (73%) & commercial (27%)
- Located in el Prat, close to Barcelona airport
- GAV: c.2% of group total
- Area: 171,101 sqm (1) / 1,597 units
- Status: NFP (developable) urbanization works expected to start in 2022
Albacerrado
N-340
Harbour
Playa de los
Lances
- Transformed from Non-urban to Developable
- Located in Tarifa (Cádiz), an established area for 2nd residence
- GAV: <1% of group total
- Area: 39,425 sqm (2), including hotel, commercial and residential uses (165 units)
- Status:NFP (developable) urbanization works expected to start in 2021
Notes | 13. |
(1) Residential buildability: 124,641 sqm / Office buildability: 19,200 sqm / Hotel buildability: 8,068 sqm / Commercial buildability: 19,200 sqm | |
(2) Hotel buildabiliy 23,829 sqm / Commercial buildability: 6,499 sqm / Residential buildability: 9,098 sqm |
Residencial Hespérides (Sevilla)
3. Financial Overview
Financial accounts: 1H 2020 highlights
Profit & Loss
Total revenues: €96.3m (+15% YoY)
Residential | Land Sales: | ||
deliveries: | €48.9m | ||
€47.4m | |||
• 226 units | • | 98% commercial | |
• Gross margin: 16% | • | 2% residential | |
EBITDA: €(8.0)m
Appraisal value impact:
€(58.3)m
Net Income: €(75.9)m
Amura (Valencia)
Financial situation
LTV ratio: 5%
Net debt: €141.1m
Cash: €301.5m
Appraisal values
GAV: €2,626m
-4.3% LfL vs Dec19
NAV: €17.07 / sh
-5% vs Dec19
15.
Net Debt in June 2020
Citrea (Málaga)
Residencial Imspira (Lleida)
LTV ratio | Avg cost of debt | Total cash | ||
5% | 2.6% | €302m (1) | ||
Eur m | Dec. 2019 | June 2020 | Change | |
Developer loans | 48.8 | 110.9 | 62.1 | |
Corporate debt | 103.6 | 247.3 | 143.7 | |
Gross Financial Debt | 152.4 | 358.1 | 205.7 | |
Unrestricted cash & S/T investments 74.7 | 217.0 | 142.3 | ||
Net Financial Debt | 77.6 | 141.1 | 63.5 | |
Restricted cash | 67.4 | 87.2 | ||
% LTV | 3% | 5% | ||
- No significant debt maturities in the near term: €7m in 2H20. The corporate loan expires in Dec. 2022
- €145m new loan facilities signed in 1H: €128m in new project loans and €17m in new corporate loans
- Total signed and available project loan facilities of €325m
MVC continues to have a very solid financial situation
Notes: | 16. |
(1) Including advances from clients (restricted cash), which is not used for the calculation of reported net debt |
Free Cash Flow for shareholders
Cash Flow analysis
Eur m | 1H 2020 | |
+ EBITDA | (8.0) | |
+ Book Value of land sold (1) | 49.1 | |
+ | Book value of land in residential deliveries (2) | 15.2 |
- | Net financial expenses paid | (3.7) |
- | Corporate taxes paid | (0.0) |
- | Contractual repayment of corporate debt (3) | (7.3) |
- | Other working capital changes (4) | (20.1) |
= Adj. Free Cash Flow to Equity | 25.2 | |
- | Capex in work in progress | (109.5) |
- | Capex in land | (10.0) |
- +/- Change in cash advances from clients | 34.3 | |
- | +/- Others | (3.5) |
= Change in net debt: reduction / (increase) | (63.5) | |
Comments
- Adj. Free Cashflow to Equity of €25.2m generated in the first semester
- €42m expected to be cashed-in from receivables over the next 12 months from sales accounted for in the past
Positive FCF generation of €25.2m in 1H20
Notes: | 17. |
(1) Cash recovered from land sales, not included in EBITDA; (2) Land component in the cost-of-goods-sold, which represents cash flow generation assuming no need to replenish the land bank; (3) Based on the corporate loan agreement, 15% of the land |
revenues will be used to anticípate the repayment of this loan; (4) Includes deferred collection of some sales accounted for in the past
GAV and NAV: June 2020 appraisal update
Net Asset Value calculation
Eur m | Dec. 2019 | June 2020 | Change % |
Shareholders' funds | 2,340.8 | 2,264.8 | -3% |
+/- Capital gains gross | 363.4 | 299.1 | |
+/- Other adjustments | 9.5 | 25.6 | |
= NAV gross | 2,713.6 | 2,589.4 | -5% |
+/- Taxes on capital gains | -90.8 | -74.8 | |
+/- Other adjustments | -9.5 | -8.0 | |
= NAV net | 2,613.3 | 2,506.7 | -4% |
Number of shares (m) | 151.7 | 151.7 | |
NAV per share (€) | 17.89 | 17.07 | -5% |
NNAV per share (€) | 17.23 | 16.53 | -4% |
Gross Asset Value (GAV) evolution
€ m
133 (95)
2,706 (117)
GAV | LFL | Capex | Sales |
Dec. 19 | change |
2,626
GAV
Jun. 20
Land value in €/sqm
537 | 480 | |
449 | ||
289 | ||
180 | ||
Residential | Residential Commercial MVC total | Implied with |
FP | NFP | stock price (1) |
GAV to GDV ratio (%)
23%
9%
MVC total Implied with stock price (1)
Like-for-like change
- LFL decline of -4.3% vs Dec.2019. By segments:
- Residential: -5.1%
- Commercial: -2.0%
- Covid-19effect: reflects lower visibility on demand, despite limited evidence on land transactions
- Impact on NAV is €124m. Part of it, also reflected in lower book values through the P&L: €58.3m
NAV of €17.07/sh: provides considerable support to the stock price
Notes: | 18. |
(1) MVC stock price as of 24/07/2020 |
Altum Lezkairu (Pamplona, Navarra)
4. Closing remarks
Closing remarks
Prepared to accelerate as
soon as the visibility
improves
Shareholder remuneration
focus maintained
An attractive land portfolio
Strong financial situation
Addressing multiple buyer profiles
and segments
Prudent management approach
Share buyback
- €50m buyback in progress
- To date: 642,082 shares acquired and €4.9m invested (1)
Cash dividends
• Decision to be re-addressed in 2H, depending on visibility
Notes: | 20 |
(1) Update as of 27/07/2020 |
Residencial Cornes (Santiago de Compostela)
Appendices
Financial accounts 1H 2020
Other data
Profit and Loss Account
Key considerations | ||||
(€m) | 1H 2019 | 1H 2020 | ||
A | ||||
Revenues | 83.8 | 96.3 | ||
Residential Development | 7.4 | 47.4 | A Total revenues of €93.6m, +15% YoY | |
Land Sales | 76.4 | 48.9 | ||
COGS | (73.6) | (88.7) | • Residential revenues of €47.4m | |
COGs Developments | (5.5) | (39.7) | • Land sales of €48.9m | |
COGs Land Sales | (68.8) | (49.4) | B Gross margin of €7.6m | |
Others | 0.6 | 0.5 | ||
B | • 16% margin in residential development | |||
Gross Profit | 4.0 | 7.6 | ||
% Gross Margin | 12% | 8% | ||
Commercial Cost | (4.3) | (4.7) | ||
C | Wages & Salaries | (8.0) | (7.9) | |
C | Overheads | (3.5) | (3.0) | |
EBITDA | (5.6) | (8.0) | ||
D | (Impairment)/revaluation/ depreciation | 15.6 | (59.6) | |
EBIT | 10.0 | (67.6) | ||
Net financial results | (3.0) | (5.4) | ||
Others | (0.1) | (0.2) | ||
EBT | 7.0 | (73.2) | ||
Income Tax | (0.8) | (2.7) | ||
Net Income | 6.1 | (75.9) |
C Overhead plus personnel expenses of €10.9m
- Decline of 5% reflecting cost containment
D Impairement impact of €58.3m
- Decline in appraisal values which is partly reflected in lower book values
- Financial expenses of €5.4m
- Increase driven by the full wihdrawal of the corporate loan and the mark-to-market impact of the equity swap
22
Balance Sheet
(€m) | Dec. 2019 | |
A | Investment Property | 334.1 |
Other non-current assets | 254.0 | |
Total non-current assets | 588.1 | |
A | Inventory | 1,902.3 |
Land | 1,215.5 | |
WIP & finished product | 686.8 | |
B | Cash | 139.7 |
Other current assets | 48.2 | |
Total current assets | 2,090.2 | |
Total assets | 2,678.4 | |
Provisions | 10.1 | |
C | Bank debt | 95.0 |
Other non-current liabilities | 23.4 | |
Total non-current liabilities | 128.4 | |
Provisions | 19.0 | |
C | Bank debt | 53.5 |
Other current liabilities | 136.6 | |
Total current liabilities | 209.1 | |
D | Shareholders' funds | 2,340.8 |
Total equity + liabilities | 2,678.4 |
Key considerations | |
Jun. 2020 | |
329.0 | |
249.9 | A Book value of land portfolio and work in progress |
578.9 | |
1,890.3 | • Decline in 1H due to asset sales and lower appraisal |
1,115.9 | values |
774.5 | • Increased proportion of work-in-progress and finished |
301.5 | product related to the active projects |
70.6
2,262.4 | B Cash balance of €301.5m |
• Includes €214.3 unrestricted and €87.2m of advances | |
2,841.3 | |
from clients | |
10.2 | |
223.3 | C Financial debt |
25.5 | |
• Increase due to the full withdrawal of the corporate loan | |
259.0 | |
as well as higher use of project loans | |
16.7 | |
131.5 | D Shareholder´s funds |
169.2 | |
• Decline related to the provisions on lower book value of | |
317.5 | |
the assets | |
2,264.9 | |
2,841.3 |
23
Geographical Exposure: Presence in the Most Dynamic Locations
Geographical presence by GAV and tiers (1)(2)
Tier 1
Tier 2
Tier 3
GAV by use | GAV by land permitting (3) | |||||||||||||||||||||||||||||||||
Under permitting process | ||||||||||||||||||||||||||||||||||
Commercial | 18% | |||||||||||||||||||||||||||||||||
22% | ||||||||||||||||||||||||||||||||||
Residential | Fully-Permitted | |||||||||||||||||||||||||||||||||
78% | 82% | |||||||||||||||||||||||||||||||||
GAV by province | GAV by location tiers (2) | |||||||||||||||||||||||||||||||||
Madrid | Tier 3 | |||||||||||||||||||||||||||||||||
Rest | 16% | |||||||||||||||||||||||||||||||||
20% | ||||||||||||||||||||||||||||||||||
31% | ||||||||||||||||||||||||||||||||||
Tier 1 | ||||||||||||||||||||||||||||||||||
60% | ||||||||||||||||||||||||||||||||||
Balearics 4% | Barcelona | Tier 2 | ||||||||||||||||||||||||||||||||
24% | ||||||||||||||||||||||||||||||||||
17% | ||||||||||||||||||||||||||||||||||
Valencia 6% | ||||||||||||||||||||||||||||||||||
Seville 6% | Málaga | |||||||||||||||||||||||||||||||||
16% | ||||||||||||||||||||||||||||||||||
GAV in € m | Residential | Commercial | TOTAL | |||||||||||||||||||||||||||||||
Fully permitted (3) | 1,596 | 78% | 548 | 94% | 2,144 | 82% | ||||||||||||||||||||||||||||
Non fully-permitted | 450 | 22% | 32 | 6% | 482 | 18% | ||||||||||||||||||||||||||||
TOTAL MVC | 2,046 | 100% | 580 | 100% | 2,626 | 100% | ||||||||||||||||||||||||||||
Notes: | 24 | |
(1) | Map excludes provinces with a reduced presence, below €10m in GAV | |
(2) | MVC's internal classification by Tiers based on several economic, demographic and market metrics. In provinces with municipalities with different tiers, classification by province is weighted according to GAV | |
(3) | Fully permitted land defined as land with both urbanization and rezoning plans approved |
Commercial portfolio: project summary
Progress in ongoing projects
Puerto de Somport office Project in Las Tablas, Madrid
- Phase I of 20,000 sqm already under construction, to be completed in 2H 2021 (MVC 24% stake)
Commercial land by location (% GAV)
Rest 5%
Canary Island 5%
Cádiz 3% | Madrid |
43% | |
Balearics 9% |
Monteburgos II turnkey project
- Building license already requested
- Turnkey project to be delivered in late 2022
Barcelona
35%
Top 5 comercial land plots: 70% of MVC'scomercial portfolio by GAV
Project | Use | sqm | ||||
1 | La City (Barcelona) | Office/Hotel | 135,618 | |||
2 | Clesa (Madrid) | Office/Mixed | 88,702 | |||
3 | Monteburgos 1 (Madrid) | Offices | 42,310 | |||
4 | Valdebebas (Madrid) | Offices | 23,331 | |||
5 | Loinsa (Barcelona) | Offices | 32,819 | |||
Top 5 Comm. plots | 322,780 |
Puerto de Somport office development (Madrid)
Link to project website
25
Marketing & ESG initiatives
BE SAFE | MVC Digital | Metrovacesa4u |
insurance policy
Launch of | Agreement with |
DE CONFIANZA |
- Insurance policy to cover the payments from clients who are affected by the current health crisis by an ERE and even by an ERTE
- The current circumstances caused by the health crisis and the travel restrictions have prompted MVC to work even closer to its customers than before
• Offers the possibility of
purchasing the home telematically, from the first visit and choice of furniture, to the signing of the reservation
- 360º visits and free walk
-
Customers will be able to know in depth all the details-technical
information, plans, quality specifications, furniture, location and surroundings- as if they were visiting a physical point of sale
- Digital platform designed exclusively for the agent network, so that they can access detailed information on
each project in commercialization. - Agents will also be entitled to incentives, privileges and incentive prizes
- Clients can rapidly have access to all the information of a project by scanning a QR with their cell phone
- In collaboration with Alastria, through Blockchain technology, the information of each project is verified by third parties: the financial institution, construction company, licenses granted…
- Companies like Sacyr, Avintia, FCC and Ferrovial have joined
- Goal: search offer focused on the preferences of each client
- Metrovacesa will be able to optimize through machine learning the different real estate options in which the user is interested
- Strengthens the company´s commitment to innovation, firmly betting on an open model of collaboration with both startups and leading companies
Awarded by the Ministry of Equality and managed by the Women´s Institute
This "seal" recognizes the equality plan "We build Equality" promoted since 2018 in order to develop practices and policies that integrate equal treatment and opportunities between men and women
26
Some project examples
Jardins de Llevant (Mallorca) | Villas de la Vega (Madrid) | Jardins de Can Gambús (Sabadell) | Mozart (Sagunto, Valencia) | |||
- In Palma, 7 min walk from the Paseo Marítimo
- 114 units from 1 to 4 bedrooms
- Panoramic-viewswimming pool in the rooftop, as well as common garden areas
Link to Jardins de Levant website
Link to location in Google maps
• | Located in the town of Villaviciosa de Odón, | • | In the new expansion area of Sabadell, these | • | Located in Puerto de Sagunto, 15 min walk from |
29km from Madrid city center | 60 units are spread in 2 multi-familiar blocks | the beach and 30km from Valencia city | |||
• | 39 individual units with private gardens and 2 | • | 29km from Barcelona city center | • | 22 dettached units with 4 rooms and private |
terraces in the upper floor, some of them with | • | Parking, storage rooms and common green | gardens | ||
private swimming pool | areas and swimming pool | • | Common green areas and swimming pool |
- 3 parking spots for each unit
Link to Villas de Vega website | Link to Can Gambús website | Link to Mozart website |
Link to location in Google maps | Link to location in Google maps | Link to location in Google maps |
27
Data series: evolution of key operating data
# Units | FY 2017 | FY 2018 | FY 2019 | 1Q18 | 2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 |
Pre-sales in the period | 512 | 888 | 1,511 | 88 | 157 | 238 | 405 | 417 | 424 | 263 | 407 | 263 | 177 / 27* |
Backlog of presales (units) | 541 | 909 | 2,131 | 593 | 675 | 931 | 909 | 1,312 | 1,718 | 1,882 | 2,131 | 2,248 | 2,195 |
Backlog of presales (€ m) | 135 | 271 | 597 | 149 | 178 | 250 | 271 | 377 | 487 | 533 | 597 | 630 | 619 |
Active projects (# projects) | 48 | 102 | 136 | 62 | 86 | 92 | 102 | 105 | 121 | 121 | 136 | 134 | 133 |
Active units total | 2,141 | 5,565 | 7,962 | 2,959 | 4,546 | 4,912 | 5,565 | 5,834 | 7,436 | 7,340 | 7,962 | 8,054 | 7,893 |
Units in commercialisation | 1,222 | 3,840 | 5,378 | 1,422 | 2,314 | 3,137 | 3,840 | 4,625 | 4,899 | 5,168 | 5,378 | 5,501 | 5,084 |
Units in construction | 955 | 1,329 | 3,383 | 1,003 | 1,192 | 1,200 | 1,329 | 1,902 | 2,803 | 3,388 | 3,383 | 3,747 | 3,463 |
Units launched in the period | 2,141 | 3,944 | 2,686 | 855 | 1,662 | 438 | 989 | 283 | 1,620 | 3 | 780 | 238 | -81 |
Deliveries in the period | 110 | 520 | 289 | 36 | 75 | 73 | 336 | 14 | 18 | 99 | 158 | 146 | 80 |
Note / Definitions: Pre-sales: number of reservations plus contracts signed in a period of time, net of cancellations; Sales backlog:balance of accumulated pre-sales minus deliveries
at a certain date; Units under commercialisation: total number of units in projects under commercialisation, including sold and unsold units; Active units:units in projects launched internally, including projects already under commercialisation and projects in design phase (prior to commercialisation)
* 117 gross units, before cancellations, and 27 net units, after cancellations
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Residencial Ópera (Sagunto, Valencia)
Q&A
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Metrovacesa SA published this content on 27 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 05:25:06 UTC