In figures
2008 Results (Jan-Dec)
Year 2008
2008 Results (Jan-Dec)
| (Millions of Euros) | Jan-Dec 2007 | Jan-Dec 2008 | Var.(%) |
|---|---|---|---|
| Turnover | 445 | 320 | -28.1 |
| EBITDA | 125 | 85 | -31.8 |
| Profit margin | 28.1% | 26.6% | |
| EBT | 82 | -129 | -256.9 |
| Margin | 18.5% | -40.3 |
ACCIONA Inmobiliaria Business figure is between 320 million Euros, while the EBITDA was reduced 31.8% up to 85 million of Euros as a consequence of the strong deceleration of the sector.
ACCIONA has accrued for deterioration of real estate assets (soil, promotion in course and patrimony) by 112 million Euros, 66 million of which belong to the soil or assets in promotion and are included in the entry of "amortizations and allowances". The other 47 millions belong to assets in patrimony and are in the entry “results due to deterioration of assets”.
Residential presales placed in 43 million Euros. The investment on soil was of 131 million Euros and focused in Mexico, where ACCIONA bought the Concord Group the 50% it did not have yet in the Real Estate Agency "Parque Reforma", Brazil and Spain where ACCIONA has acquired a plot of land to construct homes of official protection.
| (Millions of Euros) | Jan-Dec 2007 | Jan-Dec 2008 | Var.(%) |
|---|---|---|---|
| Off plan residential properties | 187 | 43 | -76.5 |
| Land purchase | 140 | 131 | -6.8 |
From the forth quarter of 2007 the parking activity has been incorporated to the consolidation of ACCIONA Inmobiliaria, although before it consolidated Urban and environmental Services in ACCIONA. The annual figures of 2007 published in this report have been adjusted to make them comparable with the same period in 2008.