Haya Real Estate reports transaction volumes of €2,438 million in 2022

• Revenues have reached €173.7 million in 2022 driving an Adjusted EBITDA of €51.2 million in the year
• In 2022, Haya announced the successful completion of its refinancing and recapitalization process resulted in the issuance of new notes that mature in 2025 providing financial stability
• The Company has also announced the results for the first quarter of 2023, reporting transaction volumes of €356.9 million, €32.2 million of revenues allowing an Adjusted EBITDA of €7.1 million
• The company continues focused on operational efficiency, cost control and providing the best quality of service to its clients to support long term growth plans

April 28th, 2023, 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 full year 2022, reporting transaction volumes of €2,438 million. The company manages €11,575 million in Assets under Management (AuMs) as of December 2022.

Revenues have reached €173.7 million in the year, which have driven operating results (adjusted EBITDA) to €51.2 million maintaining an adjusted EBITDA margin of ~30% thanks to the action plan implemented to adapt the cost structure in the company.

Haya reported a solid Free Cash Flow of €43.4 million at the end of 2022 maintaining a strong cash conversion of 85%.

Haya ́s business update

Haya announced in 2022 the successful completion of its refinancing and recapitalization process, reflecting the commitment of the company to provide higher financial stability. This process, which was completed in June, resulted in the issuance of new notes that mature in 2025, which lies in a good strategic positioning for the company's long-term growth.

In July 2022, Haya also closed the sale of Haya Titulización, realizing a capital gain of €2.4 million. This transaction crystallized the value of the division and allowed the company to focus on its core business.

Despite the termination of contracts with Sareb and Unicaja, Haya Real Estate has successfully adapted its cost structure to new circumstances, maintaining a sustainable EBITDA margin. The migration process of both contracts was smooth with positive collaboration from both parties.

First quarter 2023 results

Haya Real Estate has also announced today the results for the first quarter of 2023, reporting transaction volumes of €356.9 million. Haya manages €10,632 million in Assets under Management (AuMs) as of March 2023.

Revenues have reached €32.2 million driving operating results (Adjusted EBITDA) to €7.1 million in the first quarter of 2023. Haya has reached a Free Cash Flow of €8.1 million at the end of the period implying an exceptional cash conversion of 114%.

2023 Outlook

As for 2023, the company has identified its key strategic pillars that allowed to maintain its leadership position. In this sense, Haya Real Estate remains committed to offer the best quality service to its existing clients and identify new client needs to offer its proven capabilities. The company is also focused on operational efficiency and cost control, adapting its business structure to the competitiveness of the sector together with cash flow generation as key priorities.

Enrique Dancausa, CEO of Haya, said: “our goal is to maintain sustainable EBITDA margins in 2023, as well as keeping our leadership position to achieve new contracts. Moreover, Haya is committed to constant improvement in its service level, capabilities, and processes to gain efficiency which will position us for long-term growth and success. We will also continue exploring different strategic alternatives to reinforce our position in a potential sector consolidation."

About Haya Real Estate

Haya is one of 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 €10.6 billion of AuMs (Assets under Management) as of March 2023.

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 ~105,000 assets, 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 and underwriting capabilities, rental management, land management, completion of works in progress.

Haya’s main clients include financial institutions such as BBVA, Caixabank, Cajamar, and international investment funds such as Cerberus Capital Management. The company employs ~561 professionals, featuring an extensive sales network that covers the entire Spanish geography. Haya has invested in cutting-edge technology, data analysis and IT tools focused on industrialization, process efficiency and performance delivery which are key to deal with current market environment.

Financial results presentation conference details

Enrique Dancausa, CEO of Haya, and Omar Suarez, CFO, will host a conference call today to present the results, which will be simultaneously broadcast over the internet, at 14:00 (Central European Time).

To participate in the Haya Real Estate 2022 and March 2023 Earnings Call, please register in the following link to access the dial-in information:

https://register.vevent.com/register/BI2a3ccb904d6148f493101a52a77571ba

The conference call can also be accessed via webcast at:

Contact details:

Investor Relations:

+34 917 929 777
ir@haya.es

Media relations:
Kreab.

+34 91 702 71 70
hre@kreab.com