Urbas has consolidated in 2021 the achievement of positive results, closing the year with profits of 66 million euros at a consolidated level, which represents a increase of more than 400% compared to the previous year (12 million euros in 2020).
After the consolidation of the new acquisitions and the expansion of the business perimeter, URBAS has improved its operational and financial efficiency, generating synergies and optimizing costs. This successful growth strategy has brought with it significant growth in turnover. URBS has multiplied by 10 its turnover to exceed 200 million euros and place the gross operating result (EBITDA) at 26 million euros.
At the same time, the total asset value of the listed company’s balance sheet stands at 1,170 million euros.
On the other hand, after the rearrangement and corporate debt reductionwhich has gone from 185 million euros to 59 million), URBAS confirms a very solid position to tackle its expansion, diversification and internationalization strategy. The formalization of several lines of financing with different investment funds, and the execution of the agreements with the Society of Assets from Bank Restructuring (SAREB), have contributed to this, operations that confirm the confidence of the market in the management capacity of URBAS and its business model focused on the controlled, sustainable and profitable growth of all its lines of activity.
On the other hand, and as a result of the acquisition of new companies, URBAS has integrated into its accounts a level of indebtedness associated entirely and exclusively with the execution of projects. In this sense, after the cancellation from the beginning of 2021 of financial debt amounting to 153 million euros, 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).
It is worth noting the Maneuver Fund or Working Capital, which has improved by 65% to close to 500 million euros, which guarantees the balance, stability and financial solvency of URBAS in the short and long term.
All in all, the company chaired by Juan Antonio Acedo follows an upward projection that provides long-term certainty, and is immersed in a new stage of growth, guaranteed by a Board of Directors and a management team committed to results and to the creation of value for URBAS shareholders.
Infrastructure and Building
The ‘INFRASTRUCTURE AND BUILDING’ business line leads the company’s growth with a solid portfolio of projects up to 2024 worth almost 1,600 million euros. After the acquisition of the Basque construction company Murias, URBAS has reinforced this line of business in 2021 with the purchase of Joca, Urrutia and Ecisa.
The group maintains a very relevant national and international position. Close to 30% of the works in progress are being developed outside of Spain (Portugal, Panama, Colombia, Bolivia, Algeria and the United Arab Emirates). URBAS is a specialist in all areas of engineering and construction: civil works, residential and non-residential building, industrial, energy, concession projects and PPP (public-private collaboration projects).
Real Estate Promotion
The ‘REAL ESTATE DEVELOPMENT AND LAND MANAGEMENT’ is one of the pillars on which the company has been built, with more than 30,000 homes promoted and built and a quality land bank of 17 million square meters in areas with high development potential. demand.
The URBAS roadmap foresees the delivery of 3,000 homes by 2024 and, as planned, 168 have been delivered in 2021.
During the past financial year, the company bought the developer-builder Jaureguizar, positioning itself in the Basque market with a portfolio of 2,400 homes. Also in the build-to-rent market, with more than 1,100 homes in project after the purchase of ‘Alandulus Real Estate’ –which has contributed 620 homes to the Urbas pipeline– and in the senior residences segment as a result of the strategic agreement with the Belgian socimi ‘Care Property Invest’ to develop turnkey projects with a potential value of 140 million euros.
Energy and Industry
These two lines of activity are joined by the most recent ‘ENERGY AND INDUSTRY’, which URBAS entered in 2021 after the purchase of Sainsol, and through which it has specialized in photovoltaic self-consumption, applying it to its own and third-party projects that it develops. as a residential or construction developer.
URBAS has continued to make progress in this line of business and now its goal is to consolidate the company as a key player in the global energy transition and grow in self-consumption, storage, green hydrogen generation and the development of renewable projects, until they are ready to build. . It currently has 10 solar and wind power plant projects in Spain and Portugal with advanced permits and the forecast is to develop 530 MW by 2024.
Within this area, K-Silán (Lugo) is also key, a potassium feldspar mine, a fundamental mineral for the manufacture of ceramic tiles whose extraction is expected to begin this year. The surveys carried out so far point to reserves of 11 million tons with an estimated value of 660 million euros.
“We are in a very good moment and we are also convinced that these results generate long-term certainty and will strengthen the market’s confidence in the fundamentals of URBAS, in the soundness of our assets and in that of all our business lines,” explains the President, Juan Antonio Acedo.
