Sea You Hotels has experienced extraordinary growth at the end of the third quarter that is continuing into the month of October thanks to especially benign weather. The turnover of the Libertas 7 Tourist Area represents, as of September 30, 2023, a total of 2.8 million euros, an increase of 20% compared to the same period in 2022 and is based on a combination of marketing strategies and a growing demand from the Valencian tourism market. Sea You Hotels grows in occupancy by 7% and in average price by 12%, which translates into a significant improvement in Ebitda of 36%.
Regarding the Investment Area, the profitability obtained by the stock market portfolio in 2023 stands at 8.2%, which compares very favorably with the -11.31% obtained at the end of the third quarter of 2022. In the current year, accumulate net purchases worth 1.3 million euros, within a strategy focused on the construction and growth of the portfolio through investment in high-quality companies, whose valuations are less demanding after the recent corrections experienced in some of them. them and that we know in depth thanks to the work of our own team of analysts.
The profitability of the total accumulated portfolio for fiscal year 2023 stands at 8.5%, at an intermediate level between the General Index of the Madrid Stock Exchange, which gains 14.2%, and the Eurostoxx600, 6%, our two indices. reference.
In FICSA, the Libertas 7 real estate area, a solid marketing rhythm has been maintained in its developments during the third quarter of 2023, reaching 17 new reservations between the different locations: the Paseo al Mar Building with the works started (Blasco Ibáñez Area in València), Residencials Zaïda (Av de Burjassot, València), Vesta Residencial (Puerto de Sagunto), Edificio Gaia (Primado Reig, València) and Residencial Idalia Nature (single-family homes in San Antonio de Benagéber). Both demand and prices maintain an upward trend mainly due to the shortage of new housing in Valencia and the metropolitan area.
During the fourth quarter, the start of construction is scheduled for Residencial Zaïda, a development that has obtained the corresponding license, the signing of a marketing contract for a third-party development, as well as the acquisition of a new plot of land. The turnover and results of the Area for the year were practically realized in the first quarter with the deed to clients of the Crisálida building.
The third quarter of 2023 ended with a net profit of 1.2 million euros, which represents a solid net margin of 10.33% on turnover, underlining the financial health and operational efficiency of Libertas 7.
As a consequence, the Board of Directors has agreed to pay an interim dividend for the year of 2 cents per share, which represents a return of 5% on the current price.
Agnès Noguera Borel, CEO of the Libertas 7 Group, expressed her satisfaction with these results and thanked the company team for their work and commitment. "These results are a testament to the constant effort and focus on excellence and sustainability that characterize Libertas 7. We will continue to work hard to deliver value to our investors and clients in all our business areas."
Libertas 7 is a Valencian business group listed on the Continuous Market, dedicated to the management of financial investments and real estate (Ficsa) and tourism (Sea You Hotels) activities.
