Urbas reduces its half-year profit by 46% and doubles its turnover to 161 million

MADRID, 26 Sep. (EUROPA PRESS) -

Urbas recorded an attributable profit of 16.01 million euros during the first half of this year, which represents a decrease of 46% compared to the same period of the previous year, while placing its turnover at 161 million euros, which it means doubling the one obtained a year earlier, as reported on Monday to the National Securities Market Commission (CNMV).

After the integration of the new acquisitions and the expansion of the business perimeter, Urbas has highlighted the improvement in its operational and financial efficiency, generating great synergies between all the companies that make up the group and optimizing costs.

The firm has highlighted that this "orderly and sustainable" growth strategy is accelerating the company's expansion and also explains, as it has pointed out, the growth in revenues to place the gross operating result (Ebitda) at 26 million euros, double also that reached in the same period of the previous year.

The total asset value of the company's balance sheet stands at 1,176 million euros.

On the other hand, the working capital has improved by 14%, reaching 533 million euros, which guarantees "the balance, stability and financial solvency" of Urbas, which, additionally, and as a result of the acquisition of new companies, has integrated into its accounts a level of indebtedness associated entirely and exclusively to the execution of projects.

In this sense, after the cancellation from the beginning of 2021 of financial debt amounting to 165 million euros (more than 75%), the company continues to analyze different options to obtain new national and international financing products; continue with the restructuring and refinancing process of the financial debt incorporated after the acquisitions of companies; and the issuance of fixed-income instruments, both short- and medium-term (promissory notes) and long-term (bonds).

All in all, the company chaired by Juan Antonio Acedo has underlined that it continues with an upward projection and consolidating the objectives of its strategic plan that includes continued growth over the next few years.

Thus, by 2022 it contemplates exceeding 400 million sales, 800 million in 2024, and 1,000 million in 2025, so that the turnover will increase almost 55 times in five years (in 2020 it reached 21.6 million) .