NEWS AND PRESS RELEASES
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Haya Real Estate revenues increased by 12% in the first quarter of 2018


  • In the first quarter of the year, Haya Real Estate has managed approximately €40 billion of AuMs, transaction volumes increased by more than 40% up to €895.2 million, allowing a 12% increase in revenues and a 6% growth in adjusted EBITDA (€24.4 million).
  • In April, the company was awarded the new Bankia contract for the management of all its real estate assets, including BMN’s REOs portfolio, with an exclusivity of 10 years.

May 24, 2018, Madrid. Haya Real Estate (“Haya”), the Spanish market leader in the management of real estate debt and property assets, announces today its financial results for the first quarter of 2018, reporting transaction volumes of €895.2 million, up by more than 40% versus the first quarter of 2017.

During this period, total revenues amounted to €55.9 million, which represents a year-over-year increase of 12%, and operating results (adjusted EBITDA) amounted to €24.4 million, with an increase of 6% compared to the same period of last year. In the first quarter of 2018, the Free Cash Flow was €20.2 million, 59% more than in March 2017, representing a cash conversion of 83%, while the corporate net debt was €414 million with a net leverage ratio of 2.8x at 31 March 2018.

During the first quarter of 2018, Haya has managed €39,807 million in AuMs and its transaction volumes increased across its three product lines (REDs, REO Conversion and REOs) due to an overall strong performance in all of its contracts. In particular, REO Conversion volumes increased by 104% reaching €296.8 million, REO volumes reached €326.4 million, 46% more, and RED volumes increased by 2% up to €272 million

In April, Haya was awarded a new contract to manage all Bankia's real estate assets, including those from the recent acquisition of BMN. The ten years contract includes the management and commercialization on an exclusive basis of both Bankia´s REO stock and future flow. As of March 2018, this perimeter amounted to €5.7 billion. This transaction proves Haya’s capacity to renew its existing contracts with its core clients and consolidates the company as the leading real estate servicer in the Spanish market. Additionally, Haya continues to develop its institutional asset management business with two new contracts awarded since the beginning of the year, proving its capacity to service clients beyond financial institutions.

Carlos Abad, CEO of Haya, said: “I am very proud to say that Haya continues to achieve a strong operating performance and to deliver an excellent quality service to our clients. Additionally, we have proved our capacity to renew our existing core contracts with the novation of the Bankia contract. We are focused on positioning Haya as the leading independent servicer to capture new business opportunities 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: 72849824#

The conference call can also be accessed via webcast at:
event.onlineseminarsolutions.com/wcc/r/1664790-1/46585032C3AAD5137F4899C8574477D4?partnerref=rss-events

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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