Cevasa reports 47.8% increase in first-half profit

Compañía Española de Viviendas en Alquiler (Cevasa) reported a consolidated net profit of 15 million euros for the first half of 2026, marking a 47.8% increase compared to the same period in 2025. This growth was primarily driven by the revaluation of its real estate portfolio, with fair value adjustments contributing 11.5 million euros to the profit and loss account. The company noted that this increase is a non-cash accounting effect.

Despite the rise in profit, total revenue decreased by 32% to 13.6 million euros, and EBITDA fell by 10.1% to 8.6 million euros, largely due to lower sales from property developments. However, rental income rose by 7.1% to 12.3 million euros, aided by inflation-linked contract updates. The company stated it continues to set rental prices below legal maximums.

During the semester, Cevasa invested 3.6 million euros in development assets. This includes 2 million euros for a 24-unit housing project in Montgat, Barcelona, scheduled for delivery in the fourth quarter of this year, and the acquisition of land in Sabadell for the construction of 62 social housing units for rent.