23/09/2014 – Expansion
Pontegadea Inversiones, the main holding company of Spain‘s richest Amancio Ortega, gained a record amount of €1.31 billion in 2013. The proceeds mostly derive from his vehicle Gartler which contributed with nearly €1.2 billion to the entire group.
Gartler is one of the companies through which Mr. Ortega controls his stake in textile giant Inditex. In total, the businessman holds 59.294%, with 50.01% of it in Gartler, purchased in December 2012. The year 2013 is the first that includes the gains brought in for Inditex by the firm.
Throughout 2013, the asset management company earned €16.9 billion, while large part of this amount (€16.7 billion) corresponded to Inditex‘s sales which improved by 8%.
The real estate arm of Pontegadea contributed with €221 million, out of which €117 million came from Spain, €75 million from America and €29 million from the rest of Europe.
Pontegadea Inversiones holds 100% of the property manager of the same name. Its portfolio contains such assets as the Torre Picasso skyscaper and the Zara store at 23 Serrano street in Madrid. This subsidary earned €87 million for the group.
Real estate investments of Pontegadea totalled at €3.83 billion, juxtaposed with the €3.34 billion amount from 2012. On rentals, the company made €170 million.
Original article: Expansión (by Rocío Ruiz)
Translation: AURA REE