Ecisa contributed 61 million jobs to Urbas in its first year

Last year, the construction company Ecisa from Alicante launched some 61.2 million revenue to new owners Urbas Groupformalized the acquisition of the company through a share exchange with Qatari group Al Alfia in February of last year. This is stated in: consolidated accounts submitted by the listed firm to the National Securities Market Commission (CNMV), which reflects the firm’s unequivocal failure to outpace red numbers This lasted for years, although it reduced them very significantly.

It should be noted that these figures only reflect Ecisa turnover and results. from the date your purchase is formalized, on February 16, 2021, so they do not include the entire exercise. Even so, the 61.2 million revenue for this period represents more than a significant improvement in the turnover of the Alicante-based construction company. Lost about 60% of its 2020 turnover increased from -88.4 million to 36.7 million due to the effect of the pandemic.

In this way, although Urbas does not break up the figures any more, the data shows that the company will regain its rhythm and will be on the way to reach the pre-Covid figures. In addition, 61.2 million Ecisa collected in the document second company by invoice volume of its new group, surpassed only by 68.5 million produced by engineering and construction firm Joca, according to the same sources. Grupo Urbas closed the year with a total turnover of 201.5 million.

Concerning the results, the balance sheets submitted to the CNMV are available to the new owners of the Alicante firm. 2.4 million net loss Although the euro for the same period is still a negative figure, the reality is that the 15.1 million the company added in 2020 represents a significant improvement over 18.1 million in 2019 or 25.6 million in 2018. The construction company did not record a profit. since 2012.

Evaluation

On the other hand, Urbas accounts are the accounts of the listed company. change rating The balance of shares transferred to Al Alfia in exchange for Ecisa to take control. A change made at the request of the CNMV that requires the price of the securities to be reflected at the time of transaction, not the price specified in the contract. This way, if the transaction was initially valued 26.2 millionthe value of the price paid by Urbas for Ecisa, with the change 41.6 million.

On the other hand, they confirm what they put from the company. Unique building on the beach of San Juan After the firm moved its dependencies to another building of its own on Avenida de, which historically housed the construction company’s headquarters Alfonso, Sage of Alicante. It’s a decision taken last year by the company’s former president, Enrique Barreiro, to gain visibility and get closer to potential customers.

Ecisa’s former headquarters on the coast of San Juan. COLUMN CORTES


As will be remembered, Barreiro left the management of Ecisa at the beginning of the year, when the company came under the control of Daniel Navalón, general manager of Urbas Infrastructure and Construction, according to official company sources.

In 2020, Urbas Group began an acquisition-based expansion process and acquired the Basque construction company Murias that year. Subsequently, in 2021, in addition to the energy company Sinsol and real estate companies Nalmar and Alandalus, which have land in Albufereta, it bought three more companies in this sector -Joca, Urrutia and Ecisa.

The Ecisa construction company was founded in 1968 by Manuel Peláez Castillo and was later controlled by his sons. In 2014, after a period of international expansion, the founding family brought in the Qatar fund Al Alfia as a shareholder, which took 100% of the company in 2020, making Enrique Barreiro head. Just a few months later, the Qataris sold the firm to Urbas for 4.85% of the new group.

Source: Informacion

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