We expect Q1 to be solid. So what of the medium and long term? We consider Neinor''s dilemma on Rental - crystallise value or drive future EBITDA? - plus the company''s resilience to a squeeze in both supply (construction costs) and demand (low affordability).
Q1 2022: stable margins, in line with 2021
Neinor Homes will publish Q1 2022 next Tuesday, 10 May (aftermarket). We expect c.700 units delivered (vs. 345 units in Q1 2021), consistent with EUR288m revenues, EUR48m EBITDA and EUR25m net ....
