Libertas 7 increases its equity by 4.3% and cleans up its debt by 11.5%

The Valencian company Libertas 7, which is listed on the Continuous Market and is dedicated to the management of financial investments and real estate activities, starts the year with “strong” increases in turnover and results, as explained.

The quarter ended with a turnover of 7.6 million euros (342%), an operating result of 1.4 million euros (517%) and a net result of 770 thousand euros (810%), which they compare very favorably with those of the same period in 2022. Net worth increased by 4.3% and net debt decreased by 11.5%.

The company will hold its General Shareholders’ Meeting on May 23, when the payment of a complementary dividend for the financial year of 1.5 cents per share will be approved, to be added to the interim dividend for the financial year 2022 for the amount of 2 gross cents distributed in the month of November. Said remuneration will mean a return of 4% with respect to the current price of the Company’s shares.

In the real estate field, the company has deeded the houses in the Crisálida Building, located in the Jesús de València neighborhood, which will generate a turnover of 6.6 million euros in the real estate area.

Ficsa’s activity has focused on the start of work on the Paseo al Mar Building (Blasco Ibáñez area in Valencia), obtaining licenses and marketing the Zaïda (Av de Burjassot, Valencia) and Vesta (Puerto de Sagunto) residences, as well as as well as in the preparation of the commercial launch of Edificio Gaia (Primado Reig, Valencia) and Residencial Idalia Nature (34 single-family homes in San Antonio de Benagéber). They point out that the amount of inventories pending sale stands at approximately 18 million euros, without counting the land reserves in Denia and Peñíscola.

In the tourist area, Sea You Hotels, billing for the first quarter grew by 16%, with practically stable occupancy and the average price per night increasing by 20%, in line with the rest of the market. The company highlights the return of foreign visitors as significant and points out that the outlook for the high season is “excellent”.

Thus, at the end of March 2023, real billing plus closed reservations increased by 26% at Sea You Apartamentos Port Saplaya and 42% at Sea You Hotel Port Valencia.

Finally, the company explains that in the investment area, the total portfolio of Libertas 7 increases by 5 million euros in the first quarter of 2023, with a return of 10.5%.

As for the stock portfolio, profitability has been 9.3%. “The visibility of the 2023 financial year remains uncertain due to the strong tensions caused by the rise in inflation,” they acknowledge. Regarding the Private Equity and Investee portfolio, they point out the significant revaluation of Adolfo Domínguez’s shares (57%).