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    MVC   ES0105122024

METROVACESA S.A.

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Delayed Bolsas y Mercados Espanoles  -  11:38 2022-08-11 am EDT
6.800 EUR    0.00%
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07/29TRANSCRIPT : Metrovacesa S.A., Q2 2022 Earnings Call, Jul 29, 2022
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Metrovacesa S A : starts the commercialization of Novolérez III, its new development in Pontevedra.

07/04/2022 | 03:13am EDT
Pontevedra, July 4th, 2022. Metrovacesa, the leading real estate developer in Spain, has started the commercialization of Novolérez III, the third phase of the residential complex located in Pontevedra, close to the Puente de los Tirantes bridge and overlooking the Lérez River, in a privileged landscape environment. Metrovacesa thus expands its residential footprint in the Galician market and completes the Novolérez development with a new project for which it has earmarked 16 million euros.
Novolérez III is a development comprising 80 homes, 115 garages, 80 storage rooms, terraces and a total surface area of 13,038 square meters. The development will have seven floors, with the ground floor being used for a large commercial space with a separate garage and the upper floors for 2 to 4-bedroom homes.
As part of its commitment to sustainable construction, Metrovacesa has opted to build the development with sustainability and energy efficiency criteria, reducing CO2 emissions and energy consumption. In this sense, the homes have a B energy certificate.
Very close to the city center, the residential complex has access to all the necessary services such as kindergartens, schools, hospitals and supermarkets, as well as a wide range of sports facilities. Its privileged location next to the riverside promenade of the Lérez River and the Isla de las Esculturas Park, the most important in the city with a size of 70,000 square meters. In addition, the area enjoys good communications with the highway.
This third phase is in addition to two other phases already completed with modern buildings offering all kinds of services. Novolérez I, on the one hand, is located on Avenida de Buenos Aires (R/Vasquida García, 3,5,7,9) and consists of 91 homes adapted to current habitability, technical code and digital home regulations. They are characterized by being large 3 to 4-bedroom homes for large family groups that come equipped with a heated swimming pool, gym, gourmet slaa and ample parking. In addition, the homes have great luminosity and landscaped areas. This development has already reached 86% of its sales.
On the other hand, Novolérez II is under construction and has studio apartments with 1 to 2 bedrooms, very functional and equipped with terraces. It is focused on smaller family groups, or even young or older people who do not need so much space. In this case, the development is already 65% sold.

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Metrovacesa SA published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 07:12:01 UTC.


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Financials
Sales 2022 631 M 651 M 651 M
Net income 2022 36,5 M 37,7 M 37,7 M
Net Debt 2022 226 M 234 M 234 M
P/E ratio 2022 28,1x
Yield 2022 15,9%
Capitalization 1 030 M 1 063 M 1 063 M
EV / Sales 2022 1,99x
EV / Sales 2023 1,81x
Nbr of Employees 208
Free-Float 2,89%
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Number of Analysts 6
Last Close Price 6,80 €
Average target price 8,15 €
Spread / Average Target 19,9%
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Jorge Pérez de Leza Eguiguren Chief Executive Officer & Director
Borja Tejada Rendón-Luna Chief Financial Officer
Ignacio Moreno Martínez Chairman
Eduardo Carreño Chief Operating Officer
Beatriz Puente Ferreras Independent Director
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