Tag: Aldira Inversiones Inmobiliarias

Urbas’ Share Price Rises By 8% Boosted By H1 Results

19 September 2016 – Expansión

Urbas was one of the best performing companies on the stock market on Thursday. The share price of the real estate company, which has a strong presence in Madrid’s Corredor de Henares, rose by around 8% to €0.013 per share. The major catalyst for the increase was the fact that, during the first half of this year, the group left behind seven years of losses to record a consolidated net profit of €0.74 million.

The figure contrasts with losses of €4.7 million that it recorded in 2015. As at June, the net value of the group’s assets exceeded €415 million thanks to the reverse merger with Aldira Inversiones Inmobiliarias in 2015, which allowed it to strongly capitalise the company.

The strong increase in the share price of Urbas – which is constructing a hotel and resort in Cienfuegos (Cuba), which will consist of a marina, six golf courses, six 5-star hotels, three apart hotels, 1,500 villas and more than 3,000 apartments – is being accompanied by an unusual increase in trading volume.

More than 210 million shares have changed hands, a figure that significantly exceeds the average of just over 15 million during 2016.

Original story: Expansión

Translation: Carmel Drake

Urbas To Earn €250M From Sale Of 1,600 Homes Over 5 Years

29 July 2015 – El Economista

Urbas has launched a new business plan that forecasts the sale of 1,600 homes, located in 49 developments, over 5 years, through which it expects to generate turnover of €250 million and profits of more than €40 million.

The company has calculated this turnover volume on the basis of an average expected price of €167,000 per home, said the Urbas Grupo Financiero in a statement today. The company expects to begin selling the homes it owns in Spain during the third quarter of the year (…).

The company will also deal with more than 9 million square metres of land, commercial premises and buildings that it holds, most of which is located in the Corredor de Henares and Guadalajara.

Integration of assets

This represents a new stage for the company, which has spent the last year completing all of the regulatory processes and appraisals necessary following its absorption of the assets previously owned by Aldira Inversiones Inmobiliarias and Alza Residencial. The transaction has allowed Urbas to increase in size by a factor of 13 in the last year, whereby “gaining financial muscle and increasing its volume of assets, to become one of the medium-sized listed real estate companies on the market”.

With the final integration of the assets, approved by the General Shareholders’ Meeting on 10 July 2015, Urbas is now redirecting its own resources to positive figures, through a capital increase amounting to €384 million, which will result in a market capitalisation of approximately €600 million and a reduction in its debt ratio to 33%.

The General Shareholders’ Meeting also approved the new corporate regulations to update and improve its corporate governance. The company’s share capital has been divided into three basic packages of similar proportions, which are controlled by the groups Darivenia Markets, Quantium Venture and Alza Residencial.

The rest of the capital will continue to trade on the stock exchange, ensuring that the company has “a high volume of liquidity, which has made it one of the most active companies in terms of share sales on the Spanish stock exchange in recent years”.

Following the transformation of its financial structure, in line with the economic recovery, and given that none of its shareholders are financial institutions, the group hopes to leave the economic crisis behind and embark on a promising future, focused on the real estate sector and its listed status on the stock exchange.

Original story: El Economista

Translation: Carmel Drake