Neinor Homes (“Neinor”), Spain’s leading listed residential developer announces the launch of a share buyback program of up to 3 million shares, representing an investment of up to c.€50 million.

Core Viewpoint - Neinor Homes has announced a share buyback program of up to €50 million, aimed at enhancing shareholder value and addressing capital dislocation in the market [1][2]. Group 1: Share Buyback Program - The share buyback program will involve repurchasing up to 3 million shares, representing an investment of approximately €50 million [1]. - This initiative is part of a broader €500 million shareholder remuneration plan for the 2026–2027 period, with €250 million allocated per year [2]. - The company has already distributed €92 million to shareholders under this plan [2]. Group 2: Management Commentary - CEO Borja García-Egotxeaga highlighted that geopolitical factors are influencing capital flows, while the structural undersupply of housing in Spain is worsening [3]. - The company has previously navigated challenges such as supply chain issues during COVID-19 and inflation due to energy costs and interest rate increases [3]. - The focus remains on execution and generating long-term shareholder value despite current market challenges [3]. Group 3: Financial Position - Deputy CEO and CFO Jordi Argemí emphasized the straightforward financial strategy, with €500 million committed to shareholder returns and a strong balance sheet supporting growth without compromising the development pipeline [4].