The company beat its turnover record for the second consecutive year and achieved a consolidated EBITDA of more than 62 million euros.
TM Real Estate Group is consolidating itself as one of the TOP 10 companies in the Spanish property development industry, while the hotel business in Mexico continues to boom, reaching 65 million euros in 2022.
It has already secured 95% of this year's turnover targets in the first quarter of 2023.
Torrevieja, 15th June 2023, –TM Real Estate Group, a leading residential tourism company from Alicante, specialising in constructing and developing second homes along the Mediterranean and Caribbean coasts, presents its consolidated turnover for the financial year 2022, with a turnover of 260 million euros. These figures had a direct effect on consolidated EBITDA, which amounted to 62 million euros, 6.6% more than in 2021.
A benchmark in residential tourism in Spain
In the housing market, the developer reinforces its leadership in the Residential Tourism sector in Spain, with 21 projects underway and a total of 524 homes delivered during 2022, where customer purchase satisfaction rises to 96%, two percentage points higher than in 2021.
The TM customer profile comes from 37 nationalities, mainly from the international market -8 out of 10 purchases-, including Poland (21%), Spain (19%), Belgium (13%), Germany (9%) and the Netherlands (5%).
In terms of land acquisition, in 2022 the Group invested €31.5 million in response to its forthcoming 2024-2027 Strategic Plan.
The Torrevieja-based company expects to achieve all objectives set forth in its 2020-23 Strategic Plan, despite the uncertainties caused by COVID-19, the war in Ukraine, inflation and the increase in raw materials, and is currentlyone of the TOP 10 companies in the real estate development industry in Spain.
Commitment to responsible residential tourism, a key point for the company
Remaining true to its values, TM continues to be committed to sustainable urban planning and responsible residential, hotel and holiday tourism. In this regard, it is expected to present the new Sustainability Report in the next few days, which will include milestones in environmental, social and good governance (ESG) matters and present the 2nd Corporate Responsibility Master Plan.
Hotel business continues to boom and consolidates diversification
Although TM’s core business is constructing, developing and marketing holiday homes in the Mediterranean, it also has other lines of business to offer a global customer experience (hotels, agriculture, holiday rentals, photovoltaic energy and real estate agency).
The hotel business in Mexico, which operates under the The Fives Hotels & Residences brand, stands out by turning over 65 M€ in 2022 (44% more than in 2021), which represents 25% of the Group’s total turnover.
In general terms, the agricultural division ‘Las Moreras Fruit & Veggies’ closed 2022 with a total of 2.6 million kilos of citrus fruit production; the holiday rental division ‘Mar Holidays’ managed almost 1,800 bookings; the renewable energy subsidiary has 4 projects underway in Alicante and the real estate brokerage divisionclosed the year with 76 homes managed.
Prospects for 2023
Likewise, regarding the development business, the activity in the first quarter of the year has already secured 95% of TM’s turnover targets for the 2023 financial year.
Pablo Serna, CEO of TM Real Estate Group said: “The excellent figures we have achieved once again this year reinforce our position and solvency as a holding company. We will meet and exceed the objectives we set ourselves in our 2020-2023 Strategic Plan despite the complex environment that our society and economy have experienced during this period. TM has overcome these difficulties thanks to the commitment of our almost 2,000 employees, our collaborators and suppliers and, of course, our customers’ trust. We are now in an excellent position to prepare for a new and successful strategic cycle.”
