The Libertas 7 firm closes the 2023 financial year consolidating new progress in its strategic plan. Its three areas of activity, FICSA real estate promotion, Sea You, tourism area and the Investment Area, have grown “significantly” in income and volume of operations and have met the investment objectives that the company had set. Thus, its results show a turnover of 13.4 million euros, an Ebitda of 3.1 million euros, with a revenue margin of 23% and a profit after taxes of 2.3 million euros.
As the company explains, its results “significantly” improve those obtained in 2022, with a 16% increase in revenue growth, a 45.8% growth at the Ebitda level and a 54% increase in net income (it will involve recognizing a profit per share of 0.11 euros, 57% higher than the previous year).
Likewise, the company explains that it has reduced its net financial debt by 8%. “Our financial position is solid since debt represents 21% of the value of assets,” the company maintains.
By area, the real estate area closes the 2023 financial year with a turnover of a total of 7.7 million euros, mainly due to the deeds for the Crisálida Building. In addition, a total of six active projects and two plots in the design phase explain that it has allowed them to generate a stock of 232 units of housing and commercial premises.
On the other hand, the company’s tourism area has reached “record figures” and improved its sales by 25% compared to fiscal year 22 and 41% compared to 2019, the pre-pandemic year. The company argues that growth is supported by both occupancy improvements, especially at Apartamentos Port Saplaya, and average price per night in both establishments.
According to Agnès Noguera, CEO of the group, “such growth is based on good management and commitment to offering memorable tourist experiences, together with advances in digitalization and efficiency gains, they are driven by the success that the city of Valencia is having as a tourist destination”.
“In investments we have maintained a prudent and diversified strategy, taking advantage of opportunities offered by the financial markets and seeking to maximize return, maintaining our value philosophy as a guiding principle in portfolio management,” explains the company. Its annual profitability is 10.6%, but they highlight that “what is more important is the market value of the portfolio, which grows by 14% and the net investment balance, which increases by 1.7 million euros compared to the closing of 2022”. Profit increases compared to the previous year, 376%, mainly due to capital gains materialized in 2023.
Consequently, the board of directors has agreed to propose to the General Meeting, to be held next May, the payment of a complementary dividend of 2 cents per share. Added to the 2 cents paid in October 2023 as an interim dividend for the year, shareholders will receive 4 cents in relation to the results for 2023, that is, a gross return of 3.9% on the closing price of the year.
