The company Libertas 7, listed on the Continuous Market of the Spanish Stock Exchange, has presented the results for the first half of 2022. From them, an unequivocal recovery of the tourist area can be deduced given that the income and reservations to date, close to 2 million euros are 14% higher than those obtained in the same period of 2019, this being the last comparable year, prior to the pandemic.
Libertas 7 manages 76 apartments in Port Saplaya and the Port Valencia hotel in the city's Marina under the Sea You brand. In both establishments, during the first semester, investments have been made, completing the renovation of the apartments that was paralyzed by the pandemic, as well as the total remodeling of the hotel reception and cafeteria.
Ficsa, the real estate area of Libertas 7 maintains a good rate of works and sales in its promotions, in Valencia. Thus, in July the deed of the houses of the Drassanes Building, located in El Grao; the works of the Crisálida Building, in the Jesús neighborhood, continue as planned; and the Paseo al Mar (Blasco Ibáñez area) and Residencial Zaïda (Burjassot avenue) developments are still waiting for the municipal construction license to be obtained. The company has acquired two new lots: in València on Avenida del Primado Reig and in Puerto de Sagunto, on Luis Candau street.
“The exercise is working as planned. The results of the tourism campaign and the real estate deliveries will shine in the accounts for the third quarter”, said Agnès Noguera, CEO of Libertas 7.
Regarding the investment area, in a particularly complex and volatile environment, Libertas 7 has managed to generate 2.7 million liquidity in the first half of the year by managing the stock market portfolio, the dividends obtained and the returns on the capital portfolio private. Likewise, the profitability of the company's portfolio, of -3.6%, including a -7.4% return on the stock market portfolio, greatly improves not only the benchmark but practically all European and American stock market indices.
The semester ends with a turnover of 3.4 million euros and a profit of 0.4 million euros with a real perspective of improvement for the third quarter of 2022 not only due to the results of the high tourist season but also for the deeds started in July by the real estate area.
