Corporacin Financiera Alba SA: Corporacin Financiera Alba announced a net profit of 121.9 million in the first half of 2021

0


Corporación Financiera Alba reported net income of € 121.9

million in the first half of 2021

Corporación Financiera Alba announced a consolidated net profit of 121.9 million euros in the first half of 2021, compared to 24 million euros of losses during the same period of the previous year due to the decrease in activity in most of our companies detained due to COVID. -19 crisis. This improvement is due to the increase in income obtained by some of our subsidiaries and to the positive performance of the fair value of other financial investments in companies recorded at fair value.

Revalued Net Assets (NAV) increased by 9.3% in the first half to stand at 4,702 million euros at June 30, 2021, or 80.74 euros per share. Alba’s share price closed the first half of the year at € 46.00 per share.

During the first half of the year, Alba invested 197 million euros and sold assets for a total amount of 115 million euros. However, the large volume of distributions received from owned companies, in particular Verisure, brought Alba’s net cash position to € 596 million as of June 30, 2021.

In June, Alba distributed to its shareholders a final dividend of € 0.50 gross per share, representing a disbursement of € 29 million.

The investments made by Alba during the first semester were as follows:

  • Acquisition of a 3.1% stake in Befesa for 70 million euros, as part of the capital increase carried out by Befesa for the acquisition of American Zinc Recycling in the United States. With this investment, Alba increased its stake in Befesa to 5.1%.
  • Acquisition of an additional 0.93% stake in Viscofan for € 25 million. With this purchase,
    Alba increased its stake in Viscofan to 13.97%.
  • Financial investments in various listed companies for a total amount of 102 million euros.

On the other hand, among the disposals carried out, the following are highlighted:

  • The sale, through Deyá Capital, of the entire stake (16.8%) in the capital of Alvinesa for 48 million euros. As part of this investment, Alba has obtained an IRR of 44.9% per year for 4.1 years as a shareholder.
  • Disposal of 1.56% of Acerinox’s capital for 49 million euros, bringing its stake to 17.79% at the end of the first half.
  • Sale of real estate in Madrid for 9 million euros. Alba has achieved an IRR of 16.3% per year for 21 years.
  • Sale of a 0.54% stake in Indra for € 8 million. With this sale, Alba reduced its stake in
    Indra at 9.98%.

1

As of June 30, 2021, Alba announced the following transactions:

  • The agreement to purchase an approximate 14% stake in Nature Topco UK Limited for an investment of $ 295 million. Through this company, Alba acquires an indirect stake of approximately 14% in the share capital of ERM Worldwide Group Limited. ERM, headquartered in London, is the leading company specializing in environmental, sustainable development and health and safety consulting services.
  • The agreement to purchase an approximate 12% stake in KKR Apple Holdings Corporation for an investment of $ 350 million. Through this company, Alba acquires an indirect stake of approximately 12% in the capital of Atlantic Aviation FBO Holding. Present at 69 airports in the United States, Atlantic Aviation is one of the leading providers of airport services for private and corporate aviation in the United States.
  • Sale of its entire stake (11.0%) in the capital of Euskaltel for 216 million euros, as part of the voluntary takeover bid launched by Grupo MásMóvil. This sale generated a gross capital gain of 28 million euros.
  • The purchase agreement for a c. 24% stake in Profand Fishing Holding via an investment of 100 million euros, via the purchase of shares and the subscription of a capital increase aimed at supporting the organic and inorganic growth of the Company.
    Profand is one of the leading companies in the fishing industry in Spain and a world leader in cephalopods. It has fishing activities and processing plants in Spain, the United States, Argentina, Morocco, India, Peru and Senegal.
  • The purchase of the office building located in Paseo de la Castellana 42 in Madrid for 55 million euros.

Alba’s portfolio as of June 30, 2021 was as follows:

Listed securities

%

Unlisted participations

%

Acerinox

17.8

Reunidos Parks

25.0

Befesa

5.1

Verification

6.2

CIE Automobile

12.7

By Deyá Capital

Ebro food

14.0

Alvic

7.8

Euskaltel

11.0

In-store media

18.9

World domination

5.0

Monbake

3.7

Indra

10.0

Nuadi

37.4

Naturgy

5.4

To preserve

24.8

Viscofan

14.0

Satellite link

28.1

Telepizza

3.3

www.corporacionalba.es

(September 20, 2021)

2

Disclaimer

Corporación Financiera Alba SA published this content on September 20, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 20, 2021 04:21:02 PM UTC.

Public now 2021

All the news of CORPORACIN FINANCIERA ALBA, SA
12:22 p CORPORACIN FINANCIERA ALBA SA : Corporación Financiera Alba reported a res ..

EU

07/30 CORPORACIN FINANCIERA ALBA SA : Alba Unit buys property in Madrid for $ 65 million.

YOUR

07/30 Kaixo Telecom SA has completed the acquisition of Euskaltel, SA from a group of ..

THIS

07/30 Corporación Financiera Alba, SA has signed an agreement to acquire 14% of the capital of ..

THIS

07/30 Corporación Financiera Alba, SA has signed an agreement to acquire 12% of the capital of ..

THIS

07/12 CORPORACIN FINANCIERA ALBA SA : The Euskaltel board recommends accepting Masmovi ..

D

06/23 CORPORACIÓN FINANCIERA ALBA, SA : Ex-dividend day for the balance of the dividend

FA

06/14 The management team of Artá ​​Capital, SGEIC, SA has agreed in principle to acquire A ..

THIS

05/17 LIVE GLOBAL MARKETS : AT&T, GSK, Discovery, Microsoft, Tesla …
03/28 KAIXO TELECOM SA. launched a takeover bid to acquire Euskaltel, SA from a g ..

THIS

Sales 2021

Net income 2021

Net debt 2021

PER 2021 ratio 13.5x
Yield 2021 2.07%
Capitalization 2,816 million
3,305 million
3,303 million
Capi. / Sales 2021
Capi. / Sales 2022
Number of employees
Free float 24.8%

Chart CORPORACIN FINANCIERA ALBA, SA
Duration :

Period:

Corporaci

Trends in technical analysis CORPORACIN FINANCIERA ALBA, SA

Short term Mid Road Long term
Tendencies Bearish Bullish Bullish

Evolution of the income statement

To sell

To buy

Average consensus TO BUY
Number of analysts 1
Last closing price

€ 48.35

Average price target

€ 67.30

Spread / Average target 39.2%


Share.

About Author

Leave A Reply