Urbas’s Profits Rose by 8.8% in 2017 to €5.2M

1 March 2018 – Eje Prime

Urbas Grupo Financiero generated profits of more than €5 million in 2017. The company obtained a net consolidated result of €5.2 million last year, which represents an increase of 8.8% with respect to 2016.

The company’s revenues amounted to €4.2 million, up by 40% compared to the previous year. The group’s EBITDA stood at €31,000 by the end of 2017, and so Urbas recorded a positive figure again after registering a loss of -€3.5 million in 2016.

Similarly, the group’s financial income proceeding from its property development and land activity grew significantly last year, up from €35,000 in 2016 to €7.7 million in 2017.

As at 31 December 2017, Urbas owned a residential portfolio comprising 14 developments and 98 homes, spread across 20 provinces in Spain. Moreover, the group owns 17.6 million m2 of land, two parking lots, a residential hotel, three shopping centres and six commercial premises for rent.

Original story: Eje Prime

Translation: Carmel Drake