Urbas will support the activity by providing new business valued at 117 million to be executed in the period between 2024 and 2028 MADRID, Mar 22. (EUROPA PRESS) –
Murias, the Basque subsidiary of Urbas, has presented a viability plan to ensure business continuity, which provides for orderly restructuring, payment of 100% of the debt, and guaranteeing the viability of its business, maximizing value for creditors. and employees, as Urbas stated this Friday in a press release.
In this context, Urbas has assured that it is advancing in the “orderly” restructuring of its construction companies with the aim of adapting them to the new situation of the sector, ensuring their competitiveness and preparing for the future requirements and demands of the market.
Specifically, Murias, who has 26.6 million euros of net worth, guarantees the maintenance of employment and operations in his plan.
He also highlighted that all the works in the current portfolio will continue to be underway. In addition, Urbas will support the activity by providing new business from intragroup works valued at 117 million euros to be carried out in the period between 2024 and 2028.
Likewise, “the plan does not contemplate writing off commercial debts with suppliers or ordinary financial credits,” explained Urbas, who will be the one who “will make the effort to assume ordinary credits through the issuance and delivery of bonds convertible into shares Thus, Urbas will capitalize the debt that its subsidiary maintains with it to reinforce its net worth.
The company has indicated that this orderly restructuring is planned within Urbas’ new strategic plan “to organize its construction companies and ensure the growth of this line of business in the face of significant changes in the construction sector in Spain.”
In this sense, the company has stated that it is already preparing by focusing on promoting international activity in sectors such as water, gas, renewable energy and sustainable infrastructure, with greater emphasis on civil works.
Once the restructuring process is completed, as Urbas has stressed, “the forecasts for coming years point to sustainable growth in turnover supported by the increase in international projects, both in the area of ??’Infrastructure and Building’ and in the of ‘Renewable Energies’.
In this sense, international turnover, of 75 million euros, represented more than 30% of the total turnover in 2023, with the forecast that in 2028 it will represent more than 50% of the total.
The company has also stated that with this new roadmap and in parallel with the execution of its orderly restructuring process, “Urbas has already improved its results from last year.”
