NEWS AND PRESS RELEASES
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Haya Real Estate revenues increased by 20% in H1 2018


  • Haya Real Estate recorded a strong performance in all of its contracts and products increasing its transaction volumes by 58% up to €2,373.9 million in the first half of the year.
  • Total revenues increased by 20% (€130.2 million) and adjusted EBITDA by 16% (€64.9 million).

July 31, 2018, Madrid. Haya Real Estate (“Haya”), the Spanish market leader in the management of real estate debt and property assets, announced today its financial results for the first half of 2018, reporting transaction volumes of € 2,373.9 million, increased by 58% versus the first half of 2017

Total revenues amounted to €130.2 million, which represents a year-over-year growth of 20% due to the increase in volume fees, management fees and other revenues. Operating results (adjusted EBITDA) amounted to €64.9 million, 16% up compared to the same period of last year, with a strong EBITDA margin of around 50%.

During the first half of 2018, Haya generated a strong Free Cash Flow of €40.9 million, an increase of more than 21% versus June 2017, representing a cash conversion above 60% in the period. The corporate net debt was €463.0 million with a net leverage ratio of 3.0x at June 30, 2018.

In this period, Haya has managed €38.8 billion in AuMs and its transaction volumes - up by 58% - increased across its three product lines (REDs, REO Conversion and REOs) due to a continued overall strong performance in all of its contracts. In particular, RED volumes increased by 36% up to €876.7 million, REO Conversion volumes increased more than 91% reaching €656.4 million and REO volumes reached €840.8 million, 64% more than H1 ́17.

Carlos Abad, CEO of Haya, said: “I am pleased to share our strong performance achieving record transaction volumes in H1 ́18 of €2,373.9 million, allowing to increase our revenues and adjusted EBITDA in 20% and 16%, respectively. We will continue to focus on positioning Haya as the reference servicer in the market.”

Financial results presentation conference details

Carlos Abad, CEO of Haya and Bárbara Zubiria, CFO, will host a conference call today to present the results, which will be simultaneously broadcast over the internet, at 10:00 AM (Central European Time).

To participate in the conference, please dial in:

  • Spain: +34 914142021
  • UK: +44 2030432440
  • US: +1 6467224907
  • Pin Code: 99472676#

The conference call can also be accessed via webcast at:
http://event.onlineseminarsolutions.com/wcc/r/1788331-1/9EC084A05CBAB2331715D1DB851E37E6

About Haya Real Estate

Haya Real Estate is one of the leading independent providers of real estate and debt management services, and the largest bank-independent third-party servicer of Real Estate Development loans (“REDs”) and Real Estate Owned assets (“REOs”) in Spain. It services assets on behalf of its financial institution and institutional investor clients and has assets under management of approximately €40 billion. Haya’s core service offering covers the entire value chain of loans and real estate assets. For REDs, this comprises advisory and underwriting for loans and collateral; debt management and recovery; and conversion of RED obligations into REOs. For REOs, this comprises admissions and repossession; management of REOs; and the sale and rentals of REOs. Haya’s integrated offering of real estate servicing solutions also includes portfolio advisory (selection, valuation and negotiation), land development advisory, rental management, real estate advisory, brokerage and securitization. Haya employs 704 professionals and has a sales network of 2,648 real estate brokers.

Contact details:

Investor Relations:

+34 917 929 777
ir@haya.es

Media Relations:
Kreab.

+34 91 702 71 70
hre@kreab.com

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