Neinor Homes Sa Ord (NNRHF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, good morning, everyone. My name is Jose Cravo and I'm the Head of Investor Relations at Nainor Homes. Today, we are going to go over results for the fiscal year 2025. And as usual, we are here with Borja Garcia-Gottiaga, our CEO, Jordi Argemi, our Deputy CEO and CFO. We will start the presentation with a key highlight in section one. Then on section two, we will provide an update on the closing of the Aedes transaction. On section three, we will review financial results. And on section four, we'll finish with key takeaways. After the presentation will be a Q&A session to answer any questions you may have. Now I hand over the presentation to our CEO, Borja Garcia-Gochara. Thank you, Jose. Good morning, and thanks everyone for joining. Let me be very clear about the most important message we want to convey during this presentation. We are executing today, and we are accelerating tomorrow. That is the story. Let's break it down. First, results. Full year 2025 is the seventh year in a row that we delivered on our operational and financial targets. Seven years, not one or two, seven. In a fragmented market, through cycles and through volatility, we have consistently done what we said that we will do. That is the value created by this management team. It is discipline, it's execution, and focus. Second, AEDAS. In less than eight months, we have secured full control, doubled the scale of the platform. This is not incremental, this is transformational. With AEDAS, we created the national champion in a highly fragmented market. We moved from being a strong operator to being the clear consolidation leader. Third, the market. The macro is strong. GDP in Spain is growing fast, employment is solid, population is increasing, and household leverage remains low. At the same time...