Pontegadea, by Amancio Ortega, earns 30% more: the real estate empire exceeds 18,000 million

Exceptional year for Pontegadea, the company with which Amancio Ortega manages his fortune and investments.

Oliver Thansan
Oliver Thansan
26 July 2023 Wednesday 16:31
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Pontegadea, by Amancio Ortega, earns 30% more: the real estate empire exceeds 18,000 million

Exceptional year for Pontegadea, the company with which Amancio Ortega manages his fortune and investments. The group earned 2,092 million last year after closing the year with a turnover of 2,557 million, which represents an increase of 30% compared to 2021. These are benefits that are close to those of large Ibex 35 companies.

The main asset of the company with the greatest fortune in Spain continues to be dividends. Only from Inditex, the main one entered, received 1,719 million, to which must be added another 56 million from other investee companies. For their part, those from the real estate business reached 782 million euros.

Ortega's real estate assets accumulated a value of 18,156 million at the end of last year, compared to the 15,264 million valuation as of December 31, 2021. The acquisition of new properties, especially in the logistics and residential sector, executed throughout the year 2022 they increased the value of the portfolio, explains the company.

In addition, Pontegadea made significant investments in the renewable energy and infrastructure sector during 2022. It acquired 5% of the capital of Enagás Renovables and 49% in Repsol's Kappa photovoltaic park. It also incorporated other operations from previous years into its portfolio: the purchase of 5% of Redeia, 5% of Enagás, 30% of Telxius, 12% of the Portuguese company REN and 49% of Repsol's Delta wind farm.

On the other hand, the Pontegadea group registered in the 2022 financial year a contribution of 338 million as a donation to the Amancio Ortega Foundation. Projects such as "Implementation of Proton Therapy in the National Health System", "Comprehensive Care Centers for the Elderly", "Support Program for Public Oncology" and "High School Scholarship Program abroad" were financed.