Urbas achieved an attributable net profit of 1.6 million euros in the first half of 2024, 93% less than for the same period of the previous year, thanks to the restructuring of its construction business.
The infrastructure, sustainable construction, real estate development, renewable energy and services company obtained an income of 112 million euros during this first half, almost 26% less than the 151 million from the same section of 2023.
In this context, the company explains that Its results were affected by the orderly restructuring of construction companies which was carried out to streamline the business, avoid overlaps and take advantage of synergies after the inorganic growth of recent years.
On your side, Gross operating profit (EBITDA) is once again positive and reaches 7 million euros61.1% less than the 18 million recorded in the first half of 2023. Thus, the company’s Ebitda margin amounts to 6% of turnover.
Once the restructuring process that Urbas is carrying out is completed, forecasts for the coming years point to sustainable growth in turnover supported by the increase in international projects, depending on the evolution of the company.
In this sense, International turnover, of 28 million euros, represented more than 25% of total turnover for the first six months of the year.with the prediction that by 2028 this will represent more than 50% of the total.
For their part, the energy and real estate activities continue to benefit from “good health” with an Ebitda margin of 13% and 8% respectively, Urbas said.
Likewise, the company reaffirms its “decided” commitment in the services segment (seniors and healthcare) with a positive contribution to turnover of 0.6 million euros in the first half.
Keeps your debt stable
Urbas managed to maintain its level of financial debt “stable”, at 201 million euros, in line with the level reached at the end of last year.
The president of Urbas, Juan Antonio Acedo, highlighted that the company has made a “great effort” in the process of restructuring and refinancing of liabilities, in addition to being in full reorganization of the construction activity, this which had an impact on the company’s results.
“In any case, all the work carried out is already bearing fruit, once again reaching positive figures in terms of Ebitda, operating profit and net profit and charting a promising future for the group,” he said. he added.
