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Quabit Inmobiliaria Gains €56.7 Mn by End of September

Posted by: In: Real Estate 13 Nov 2014 Comments: 0 Tags: , , , , , , , , , , ,
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13/11/2014 – El Economista

Quabit Inmobiliaria reported a €56.7 million net profit from January-September, compared with the €23.8 million loss from the same period of time a year earlier. It more than doubled the three quarters of 2013 as its revenues posted €52.9 million.

Furthermore, the firm’s Ebitda showed €69.2 million. In contrast, last year the same indicator marked a €4.2 million loss.

Quabit‘s team said the improvement ‘is basically due to the advance in debt restructuring agreement’.

Also, there has been ‘a slight impluse in the company’s activity as it could offer prices aligned with the market thanks to trading contracts with financial entities and having charge-free assets’.

During the first nine months of the year, Quabit handed over 71 ready dwellings, cutting in overall stock by 19% and leaving it at 302 units. Of all deliveries, only 30 houses corresponded to a finished housing development given out to a bank. The rest of the dwellings were delivered to private buyers.

Original article: El Economista

Translation: AURA REE

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Source: AURA Real Estate Experts

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