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Neinor Earns 13% Less and Finalises Land Purchases for 2,000 Homes

During the first nine months of the year, the property developer led by Borja García-Egotxeaga generated a net profit of 22 million euros, down by 13%, and revenues of 197 million euros.

Borja Garcia Egocheaga 2. CEO Neinor Homes 1024x682 1

The property developer Neinor Homes obtained a net profit of 22 million euros during the first nine months of the year, which represents a drop of 12.7% compared to the same period a year earlier, as reported to the National Securities Market Commission (CNMV).

The firm closed the first nine months with revenues of 197 million euros, of which 177 million euros came from its development business and 20 million euros from its legacy and servicing activities. Meanwhile, Neinor’s EBITDA amounted to 34 million euros.

Read the full article in Spanish.

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