CLERHP Estructuras presents solid results in the first half of 2024

Madrid, October 31, 2024 — CLERHP Estructuras, S.A., a Spanish listed company (CLR.MC) specialized in real estate development, engineering, and construction, has presented its results for the first half of 2024 — showing significant growth and positive evolution in its main financial indicators.

Results for the first half of 2024

The EBITDA level of the engineering and construction area reaches €5.11 million, which represents 59.64% of revenue. The Group's overall EBITDA figure is affected by the major non-capitalizable investments being made within the Larimar City & Resort project in the Dominican Republic — which, along with non-recurring operations, bring EBITDA to €2.07 million. The Group's joint net result reaches almost €2 million, or €4 million without accounting for atypical items. This is an important improvement that demonstrates the business's good performance.

The most notable points of the presented report are the following:

Appraisal of Larimar's land

The company reports that the land where the Larimar City & Resort project is being carried out has been appraised at €187 million — which represents a latent capital gain of €135 million for the company. This means that just the value of these company assets is more than twice the company's market capitalization on BME Growth. This places the company with a much lower risk profile than its historical one. Recent company analyses placed the value at close to €12 per share.

Larimar City & Resort sales progress

The project's sales figure announced by the company reaches US$216 million. This means that 56% of the sales volume announced for the entire 2024–2026 Business Plan has already been reached. This represents major progress for the company in achieving the project and demonstrates the good market acceptance of it.

Balance sheet strengthening

The company's balance sheet has experienced a considerable increase, going from €39.4M in 2023 to more than €54M in June 2024. Equity increases by €2.9M, rising to €9M, and its working capital exceeds €10 million. Growth pace accelerates and the company is rapidly advancing toward the objectives set in its Business Plan.

Debt issuance program

The company reports that it has begun placing the €50M debt program approved in June of this year by the Board of Directors. The first bonds have been listed on the Vienna Stock Exchange.

Comments from Juan Andrés Romero Hernández (President)

Of all the relevant elements of the report, the group's CEO highlights the following two extremes.

The first refers to what has been achieved, with the following literal wording: "During 2024 great milestones have been achieved at CLERHP. The Engineering and Construction business continues with its upward evolution and with good margins, while we see day by day how the works of the Larimar City & Resort urban development are advancing."

The second point he highlights refers to the objectives the group has set for the rest of the year, with the following wording: "In the second half of 2024, we will culminate the first stage of placement of the €50 million debt program, concluding the transformation phase…"

Finally, the CEO makes a true declaration of intent by emphasizing to this media outlet that with the milestones achieved, CLERHP Estructuras, S.A. consolidates itself as a true benchmark in the residential and tourism development sector in the Dominican Republic — backed by its solid financial results. Likewise, its vision of sustained long-term growth positions the company as a stock to be considered by any type of investor in the medium and long term.

About CLERHP Estructuras

CLERHP Estructuras, S.A. (CLR.MC) is a multinational listed on the Spanish stock market, standing out as the most profitable company on BME Growth in 2023.

It operates in the areas of real estate development, engineering, and construction. For years, its leadership in the design, calculation, and construction of structures has continued to set the standard for innovation and excellence. With a consolidated track record, the company demonstrates its commitment to quality, sustainability, and efficiency in every project.

The group has offices and branches in Spain and the Dominican Republic, developing high-value-added projects, both of its own and for third parties — with a multidisciplinary engineering team, a significant commercial portfolio, an innovative financial model, and its own R&D+i developments. With Larimar City & Resort, the Clerhp group develops its flagship project in real estate development, taking advantage of the experience accumulated over the years in the international arena.

About Larimar City & Resort

Larimar City & Resort is an innovative urban development — a concept of a sustainable city committed to quality of life and resource optimization.

This resort city seamlessly integrates all imaginable services and amenities in a privileged setting located on a cliff with panoramic views of the Bávaro and Punta Cana coast. On it, a spectacular Mediterranean-style promenade with lagoons and artificial beaches is being developed. Larimar features: wide green areas with lakes surrounded by parks, apartments, hotels, school, university, schools, hospital, commercial areas, sports areas, and an 18-hole golf course with villas.

For more information, please contact our communications team.

Javier Castellano

Communications Director

CLERHP Estructuras, S.A.

Tel.: +34 686 953 909

j.castellano@clerhp.com