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Back to list Renta Corporación’s net profit, over €35 million

Renta Corporación’s net profit, over €35 million

. Net profit reached €35.4 million, sales volume amounted to €529.1 million.

. Offices stood out with sales reaching €245.4 million, up 20% from previous year.

. The Portfolio reached €1.37 billion, €506.7 million corresponding to investment rights, the balance to inventory.

. At closing of FY2007, pre-sales accounted for €287 million, of which some 45% are estimated to materialize in Q1’08.

. EPS stood at €1.41 vs. €1.90 at 2006 year-end.

. The Company has entered the New York market as an important step in its internationalisation process.

. In February 2007, the Group entered into its first long-term financing arrangement in the form of a €500 million structured loan with a bank syndicate.

. In 2007, Renta Corporación invested €60 million to acquire a building that houses its head office as well as rented space.

Renta Corporación’s net profit reached €35.4 million in the period January-December 2007. Although this figure is below the forecast, the Company appraises the achieved results positively given the situation of the financial markets. The remarkably tighter financing conditions, very significant in the last months of the year, had a direct impact on the activity of its potential customers. FY 2006 net profit stood at €47.5 million.

EBITDA was €57.3 million (€77.4 million in 2006), constituting a ratio over sales of 11%.

At closing of FY2007, EPS stood at €1.41 vs. €1.90 at 2006 year-end.

Press release

Barcelona, 21 February 2008.

 



For more information:
www.rentacorporacion.com

María Cura / Tina Díaz. Telf +34 93 217 22 17
adiaz@llorenteycuenca.com