Solvia reduced turnover by 24% due to loss of contract with Sareb

real estate services firm Solvia blames on accounts Loss of his contract with Sareb to manage part of your portfolio. The one which Former real estate subsidiary of Banco Sabadell –which in turn inherited this from CAM– registered last year 24% decrease in turnoverwhich significantly reduced the profit volume.

This is also reflected in the accounts deposited with the Commercial Register by the company, which is now owned by the Swedish group Intrum. According to these balances, Solvia recorded last year 119.9 million euro turnoverThis keeps it among the main ‘service providers’ in the country, but this represents a significant decrease from the previous year when it generated revenue of 158.1 million.

The main reason for this decline was the loss of what he had. main customer SarebConducting an election process in the middle of last year Renew your asset management contractsSolvia is excluded.

Thus, after serving in this role for seven years, the company stopped managing loan portfolios, also called ‘bad banks’, in June and foreclosed properties in September. The result was Income from services provided to Sareb decreased from 55 to 40.9 million euros.

A poster announcing a promotion run by Solvia in the file image. ISABEL RAMON

Logically, job loss also affected the company’s profitability; Its profits fell by 68%, from 35.5 million euros to 11 million euros.

new contracts

According to Intrum, they downplayed the significance of this drop in Solvia’s figures and ensured that: offset by increases in business of other subsidiariesLike Aktua. Also remember, so far this year, Solvia itself has already signed new contracts Management to get you through these numbers. The most important of these is that it has signed up for the marketing and maintenance of real estate assets. CaixaBank.

The company also states that they are exactly that. expands its franchise chain Real estate offices currently have over 70 businesses and aim to reach 100 in the near future.

Solvia has it. Its origin is the former subsidiary of Caja Mediterráneo. It was developed to facilitate the sale of repossessed flats at a time when the real estate crisis that broke out in 2008 was already evident. Sabadell was given the assets of the Alicante savings bank, was renamed to its current name and strengthened its activities and opened it to the management of the assets of other institutions and organizations. He signed a contract with Sareb in 2015.

In 2018, it was announced that 80% of the company was sold to Intrum, a Swedish group specializing in collection management. Finally, It completed the purchase of the remaining 20% ​​in December last year.. Although its registered office has been moved to Madrid, the company maintains one of its most important business centers in Alicante.

Source: Informacion


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