The ASV Group closed the previous year with revenue surpassing 170 million euros, marking a 4.4 percent rise. This momentum came from a stronger insurance division and, notably, from the funeral services arm. Expansion was fueled by solid results from its international operations in Germany and Colombia, setting the stage for gains in the current period after the acquisition of Southern Cremations & Funerals in Georgia, USA.
In particular, the Payá family enterprise achieved a turnover of 170.9 million euros last year, up from the 163.7 million euros projected for the prior year after restating figures to align with the new general accounting plan as shown in the balance sheets filed with the trade registry. The group emphasized growth, both organic and inorganic, across its insurance and funeral lines.
The insurance segment contributed 64.9 million euros to the group’s revenue, a 6.5 percent increase over the previous year. The year featured robust growth in funeral services, driven by higher demand and, in some markets, mortality patterns linked to the pandemic that affected the early months of the year in Spain and Germany as well.
Thus, the group, which has operated in Germany since 2014, expanded its footprint with two new entities in Essen and Fürth, increasing service activity in the country by nearly a quarter. Alongside its German subsidiaries, the Italian-Spanish group maintains a strong presence in Colombia, contributing about 11 percent of the Alicante firm’s total revenue. This share is expected to rise in the current period following the acquisition of Southern Cremations & Funerals, a deal that also includes multiple funeral service facilities and cemeteries in the Atlanta area. The investment in this acquisition stood at about 24 million dollars.
grupo ASV takes over the management of Almería cemeteries for 15 years
The life and casualty insurance division posted 58.4 million euros in revenue, up 3.11 percent from 2020 according to the same financial statements. The firm remains one of the country’s largest specialists in funeral insurance through its Meridian subsidiary. An additional 8,779 home insurance policies were added to this portfolio, ending the year with more than 682,000 insured lives.
The medical transport segment contributed 46.5 million euros, a 2.5 percent rise, and the company continues to manage the Valencia medical ambulance contract, a relationship that is expected to continue beyond this year.
The overall revenue growth across all divisions, along with enhanced processes, efficiency measures, and sustainability initiatives implemented during the year, translated into a solid earnings performance. The group reported a consolidated net profit of 93 million euros for the year, up 17.2 percent from the previous period.
Looking ahead to 2022, the group’s chief executive officer, Guillermo Payá, emphasizes a clear focus on growth, organizational transformation, and innovation to adapt to the changing market landscape and sustain its growth trajectory. The organization aims to build resilience by embracing digital tools, expanding strategic partnerships, and maintaining robust risk management practices across its core insurance, funeral, and transport operations.