Improve results and restructure your construction companies in an “orderly” way
MADRID, 1 Mar. (EUROPA PRESS) –
Urbas registered a net profit of 19 million euros in 2023, which represents an increase of 15% compared to the profits of 16.6 million euros registered in 2022, as reported this Friday by the company to the National Market Commission. Securities (CNMV).
The company has highlighted that the improvement in results is framed in the execution of Urbas’ new strategic plan, focused on the “promotion and consolidation” of international activity in sectors such as water, gas, renewable energies and sustainable infrastructures, with greater promotion of civil works.
Urbas’ turnover decreased by 20% in 2023, reaching 240 million euros, while the gross operating result (Ebitda) grew by 1.5%, to 26.4 million euros, improving the Ebitda margin , reaching 11% of income.
Urbas has explained that once the restructuring process is completed, 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 renewable energy.
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.
For its part, the total asset value of Urbas’ balance sheet remained stable, at around 1,200 million euros, while net worth grew to reach 620 million euros and the working capital also grew. It did so, up to 515 million euros, “thus reconfirming the stability of the company and its financial solvency.”
After the cancellation of financial debt for more than 220 million euros since the beginning of 2021, Urbas has stressed that it has been developing an “active process of restructuring and refinancing its liabilities, debt cancellation and diversification of financing avenues.”
Thus, the company has reduced its level of net financial debt by more than 8%, from the 220 million targeted in 2022 to 202 million euros in 2023, and all of this despite assuming the debt of the companies acquired in the period. (Naisa and its marble quarry in Murcia, the Bolivian branch of the Swiss-German engineering company Molinari Rail, and the nursing homes in Madrid and Burgos).
