Neinor Homes obtained an adjusted net profit of 62.3 million euros between January and September 2021, an increase of 181% compared to the same period last year (22.1 million euros), according to a statement by the developer to the Spanish National Securities Market Commission (CNMV).
The strong increase in profit is mainly due to Neinor’s revenues, which went from 197.3 million euros in the first nine months of 2020 to 498.9 million euros in the first three quarters of this year, a 153% rise. The Spanish company’s Ebitda rose 178% to 95.7 million euros.
At the same time, Neinor Homes’ sales reached record levels at a time of favourable prices. The developer reported pre-sales of close to 2,000 homes, 78% more than in the same period last year, for a total amount of 599 million euros.