Metrovacesa presented its 2025 results this Tuesday, a year that closed with a net profit of 56.9 million of euros, thus tripling its profits compared to the figure harvested in 2024 (+258%). Furthermore, the company has achieved record revenue and Ebitda figures in the year. Specifically, the income totals for the year have risen 8%, to 708.5 million of euros, while the Ebitda has been shot up 74%, up to 127.6 million of euros. Revenue, Ebitda and profit have exceeded expectations and represent the best figures obtained since its listing in 2018. «This evolution responds to an improvement in the mix of developments – with a product with more added value – and to more efficient execution, which have boosted operating margins,» explained the real estate developer in a note, detailing that operating cash flow amounted to 225 million euroswell above the initial guide of 150 million. As he points out, «this high cash generation allowed us to distribute 240 million euros in dividendswith a profitability of 17%, placing Metrovacesa among the companies with the highest dividend on the Spanish stock market.» Regarding the residential promotion activitydelivered 1,805 homes in 2025, with an average price of 374,000 euros, and obtained a gross margin of 26.2%. Likewise, at the end of the year the company had 3,917 homes under construction and a pre-sale portfolio of 3,095 homes, which «offers high visibility on deliveries and expected income for the coming years.» It is also worth noting that Metrovacesa closed the year with 32.1 million income from land sales and, additionally, with a portfolio of private land sales contracts of 162.7 million euros, which «provides a solid base of future income for 2026 and 2027.» Besides, acquired land worth 60 million euros in Madrid, Barcelona, Valencia and Málaga. For its part, the net financial debt has been reduced by 4%, ending the year with 301 million eurosand the leverage ratio or loan-to-value (LTV) is «moderate», at 13.5%, which «continues to be below the sector average.»
Jorge Pérez de LezaCEO of Metrovacesa, pointed out that «the 2025 figures are the reflection of a trajectory of several years improving the product, reinforcing its design and executing our projects with rigor. The promotions that we deliver today began to be defined years ago, and are bearing fruit in the form of greater quality and profitability.» «Our focus is to maintain these standards in the coming years. The dynamism of the market and the strength of our pre-sales portfolio allow us to face 2026 with confidence«added the manager. And in terms of the market context, the company details that residential demand «remains solid in Spain»while the demand for tertiary land «continues to improve.» Thus, throughout the last year, Metrovacesa «has made significant progress in several of its strategic projects». For example, in Seville The «consolidation» of the new Isla Natura district continues, the company’s largest ongoing real estate development, where it has already delivered more than 800 homes between 2024 and 2025 and has launched 28 developments of different types. In MadridFor its part, the urban developments of Los Cerros and Valdecarros are «progressing noticeably», which will allow the marketing of the first developments to begin in 2026. Likewise, in the tertiary segment, Metrovacesa has signed an «important» agreement for the promotion and turnkey sale of two office buildings at Oria Innovation Campusincluding a 26-story tower and a total of 48,000 square meters of offices, thus completing the commercialization of the company’s largest tertiary project.
