Neinor's Q1''s results looks good to us. Key highlights are the stable margins and the strong cash-flow generation. On the flip side co. has slowed down the pace of pre-sales to maximize prices.
On-track for 2022 targets
Neinor has delivered 866 homes during the quarter (up 2.5x yoy) with revenues up 2.8x year-on-year to EUR284m. EBITDA is also up 2.7x yoy to EUR50m beating consensus and BNPPE by 32% and 3% respectively. Though we anticipate a slowdown in deliveries to 300-400 units in Q2, Nei ....
11 May 2022
Q1 2022 - Good momentum and strong cash flow
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Q1 2022 - Good momentum and strong cash flow
Neinor Homes SA (HOME:MCE) | 0 0 0.0%
- Published:
11 May 2022 -
Author:
Jones Rob RJ | Soriano De Miguel Alvaro AS -
Pages:
6
Neinor's Q1''s results looks good to us. Key highlights are the stable margins and the strong cash-flow generation. On the flip side co. has slowed down the pace of pre-sales to maximize prices.
On-track for 2022 targets
Neinor has delivered 866 homes during the quarter (up 2.5x yoy) with revenues up 2.8x year-on-year to EUR284m. EBITDA is also up 2.7x yoy to EUR50m beating consensus and BNPPE by 32% and 3% respectively. Though we anticipate a slowdown in deliveries to 300-400 units in Q2, Nei ....