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2017-2021 Business Plan

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QUABIT is a Spanish real estate group with over 20 years’ experience and has been listed on the Stock Exchange since 2006. The company’s core business is creating value through the full management of the entire real estate cycle through two main business channels: land management and real estate development. The company’s scope is national,  aiming to once again become one of the real estate market leaders in Spain and reposition itself as a clear benchmark of the sector’s consolidation.

INVESTMENT PLAN

  • ESTIMATED INVESTMENT OF €455 MILLION IN URBAN LAND located mainly in Madrid, its metropolitan area and the Corredor del Henares zone, as well as other strategic areas with high demand potential - Catalonia, the autonomous community of Valencia, Andalusia (especially the Costa del Sol) and other province capitals with development potential such as Zaragoza, La Coruña or Santander.
  • GUARANTEED FUNDING: Avenue Capital Group Agreement: A credit line of up to €60 million for land purchase + bank financing = up to €130 million.
  • In addition, developing and selling its own assets has been included in the Business Plan generating a cash flow of €145 million, equivalent to more than 50% of the total operating cash flow during the 2017-2021 period.
  • RAISING FUNDS: €38 million through capital increase 2017.

STRONG BALANCE SHEET

  • HEALTHY FINANCIAL STRUCTURE AND EQUITY SITUATION
  • OFF-BALANCE-SHEET VALUE DRIVERS:  outstanding tax credits and partial debt write-offs.
  • DEBT AMORTISATION SCHEDULE: 5.5% the next 2 years; 31.5% the following 3; and 63% in 2022.

VALUE CREATION AND SHAREHOLDER REMUNERATION

The DIVIDEND PAYMENT, both shares and cash, is deemed to be €68 million. In 2016 new shares were distributed: 1 new share for every 20 old shares (through a bonus issue) representing a milestone since the interim dividend of 2006. OBJECTIVES:

  • Return on investment of more than 5% in dividends.
  • Triple the book value of the company.

 

Please refer to documentation attached in PDF format: :

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