NEWS AND PRESS RELEASES
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Haya Real Estate announces 2017 FY results


Haya Real Estate has managed an average of approximately €40 billion AuMs (assets under management), with a record in transaction volumes of €4,245 million increasing by 8% compared to 2016

Improved business performance: adjusted revenues and adjusted EBITDA have increased by 10%

Seven new contracts were awarded in the year, confirming Haya´s leadership position in the Spanish Real Estate servicing market

March 07, 2018, Madrid.- Haya Real Estate (“Haya”), one of the leading independent providers of real estate and debt management services and the largest bank-independent third-party servicer of real estate developer loans (“REDs”) and real estate owned assets (“REOs”) in Spain, reported transaction volumes of €4,245 million in 2017 representing 8% growth compared to 2016.

Total adjusted revenues for the year ended December 31, 2017 amounted to €257 million, which represents a year-over-year increase of 10%, and operating results (adjusted EBITDA) amounted to €146 million, with an increase of 10% compared to 2016. The Free Cash Flow in 2017 was €100 million, representing a cash conversion of 68%; and finally, the corporate net debt was €443 million with a net leverage ratio of 3.0x at year-end.

In 2017, Haya has managed an average of approximately €40 billion in AuMs and was awarded seven new contracts increasing AuMs by €4,274 million, consolidating Haya as one of the leading independent real estate servicers in the Spanish market with a diversified customer base. In particular, the acquisition of the Liberbank REO servicing business added more than €3 billion to its perimeter of AuMs. Additionally, Haya provides asset management services to institutional investors, leveraging its strong and independent platform and its years of experience servicing financial institutions.

Carlos Abad, CEO of Haya, said: “I am pleased to share with you our 2017 results, a year in which we have been able to continue delivering growth, with strong performance in our core business, while also continuing to develop new business areas, always focused on offering an excellent service to our clients. 2018 is the year to position Haya as the single most qualified real estate servicer in the market, allowing us to capture the opportunities that the strong Spanish market will provide.”

Bárbara Zubiria, CFO of Haya added “In 2017 we have also demonstrated our ability to access the capital markets through the issuance of an inaugural €475 million high yield bond, providing us with a stable and flexible capital structure to support our growth plans. Among other reasons, this interest seen from the markets has led us to initiate exploratory activities with respect to a potential initial public offering”.

Details of the results presentation conference

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 12:00 PM (Central European Time).

To participate in the conference, please dial in:

  • Spain: +34 914142021
  • UK: +44 2030432440
  • US: +1 6467224907
  • Pin Code: 32107664#

The conference call can also be accessed via webcast at: http://event.onlineseminarsolutions.com/wcc/r/1610795-1/E99225853664F3B6F81490D94F16FA89?partnerref=rss-events

About Haya Real Estate

Haya is the leading company in the management of Non-Performing Loans and Real Estate Owned assets (NPLs and REOs, respectively) in Spain. The company manages assets as well as financial and real estate vehicles for a wide variety of clients, from financial institutions to international investors. In total, Haya is responsible for €31.8 billion of AuMs (Assets under Management).

Haya offers products and services covering the entire value chain of NPLs and REOs. Its NPL services focus on the management of corporate or individuals’ debt, with a high degree of specialization in the valuation, management and recovery of loans and the conversion of non-performing loans into real estate owned assets. Real estate services are delivered to a portfolio of ~189,000 assets under management, and they range from asset boarding, property management, maintenance and valuation to its commercialization. Haya's services are fully integrated into the lifecycle of each NPL / REO, and also involve portfolio advisory, underwriting capabilities, land management, completion of works in progress and securitization.

Haya’s main clients include financial institutions such as BBVA, Caixabank (former Bankia), Cajamar, Liberbank, Sareb and international investment funds such as Cerberus Capital Management. The company employs ~863 professionals, featuring an extensive sales network that covers the entire Spanish geography. Haya has invested ~€63 million euros in cutting-edge technology, data analysis and IT tools focused in process efficiency and performance delivery.

Contact details:

Investor Relations:

+34 917 929 777
ir@haya.es

Media Relations:
Kreab.

+34 91 702 71 70
hre@kreab.com