Amancio Ortega’s Pontegadea Inversiones Gains €1.31 Bn in 2013

23/09/2014 – Expansion

Pontegadea Inversiones, the main holding company of Spains 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 Inditexs 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

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