Renta Corporación’s Profits Tripled in 2017 to €12.5M

1 March 2018 – Eje Prime

Renta Corporación multiplied its profits three-fold in 2017. The Spanish real estate company earned €12.5 million last year and recorded revenues of €45.8 million, up by 71.5%, according to a report filed by the company with Spain’s National Securities and Exchange Commission (CNMV).

Last year, the company improved on the €4 million profit it recorded in 2016, due, in part, to an increase in its property sales line of business, which recorded turnover of €29.7 million, and its project management line of business, which recorded revenues of €13.1 million.

The company’s gross operating result (EBITDA) amounted to €11.4 million in 2017, which represented a three-fold increase. Moreover, Renta’s operating margin amounted to €18.3 million at year-end, double the figure recorded in 2016.

The company’s net financial debt almost doubled in 2017 to €31.1 million. In 2018, the real estate company led by David Vila expects to increase its profits by 28% to reach €16 million. Moreover, Renta’s strategic plan for the next few years forecasts that the company will earn €21.1 million in 2019 and €21.9 million in 2020.

Original story: Eje Prime

Translation: Carmel Drake