Metrovacesa (MVC) Corporate presentation summary

Purpose, vision, and values

• Aims to enhance quality of life and drive sustainable urban growth through innovative housing projects.

• Seeks leadership in Spain’s real estate sector, focusing on quality, sustainability, and innovation.

• Core values include responsibility, future vision, innovation, talent, integrity, and transparency.

Business activity and strategic priorities

• Main focus on residential development, representing 86% of revenues and 50% of portfolio value.

• Manages a substantial land bank (~25.2k units), with 77% in Spain’s top five markets.

• Over 100 active projects across 21 provinces, targeting ~2,000 units delivered annually.

• Gradual reduction in commercial assets, increasing focus on residential projects.

Financial performance and shareholder returns

• 2025 revenues reached €709m (+8% YoY), with gross margin up to 26.2% and net profit at €57m (+258%).

• Strong cash flow conversion and moderate leverage (LTV 13.5%).

• Dividend policy distributes over 80% of operating cash flow; €865m paid from 2019–2025.

• NAV per share at €12.13, with total GAV of €2,230m as of Dec 2025.