Corporacin Financiera Alba SA: Corporacin Financiera Alba declared a net result of 303 million in 2021







Corporación Financiera Alba made a net profit of €303

million in 2021

Corporación Financiera Alba recorded a consolidated net result of 303 million euros in 2021, compared to losses of 102 million euros the previous year due to the impact of COVID-19. This improvement is due to the increase in income obtained by some of our companies in which we invest and the positive performance of other financial investments in companies accounted for at fair value.

Net Revalued Assets (NAV) increased by 26.2% over the year to reach €5,433 million as of December 31, 2021, which is equivalent to €93.29 per share. Alba’s share price ended the year at €51.50 per share, up 32.2% for the year.

During the year, Alba invested €964 million and disposed of assets for a total amount of €462 million, significantly reducing its net cash position to €182 million as of December 31, 2021.

In October, Alba distributed to its shareholders a gross dividend of €0.50 per share, taken from the results of 2021, representing an outflow of €29 million. The total amount distributed in dividends during the 2021 financial year amounted to 58 million euros.

The investments made by Alba were as follows:

  • The purchase of a 12.3% stake in KKR Apple Holdings Corporation which involves an investment of 312 million euros. Through this Entity, Alba acquired an indirect 12.3% stake in the share capital of Atlantic Aviation FBO Holding. With a presence in 78 airports in the United States, Atlantic Aviation is a leading provider of airport services for private and business aviation in the United States.
  • The purchase of a 16.0% stake in Nature Topco UK Limited, which involved an investment of 249 million euros. Through this Entity, Alba acquired an indirect 14.7% stake in the share capital of ERM Worldwide Group Limited. ERM, based in London, is the leading company in environmental, sustainability and health and safety consultancy services.
  • The acquisition of a 23.7% stake in Profand Fishing Holding, which represented an investment of 100 million euros, including the purchase of shares and the subscription to a capital increase aimed at supporting the organic and inorganic growth of the society. Profand is one of the main companies in the fishing sector in Spain and a world leader in cephalopods. It has offshore mining operations and processing plants in Spain, the United States, Argentina, Morocco, India, Peru and Senegal.
  • Acquisition of a 3.1% stake in Befesa for 70 million euros, as part of the capital increase carried out by Befesa for the acquisition of American Zinc Recycling in the United States. With this investment, Alba increased its stake in Befesa to 5.1%.
  • The purchase of the office building located at Paseo de la Castellana 42 in Madrid for 55 million euros.

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  • Increase in the capital of Viscofan (0.9%) and Ebro Foods (0.4%), for €25 million and €11 million respectively.
  • Other financial investments for a total amount of 144 million euros.

On the other hand, among the divestments carried out, the following are highlighted:

  • Sale of the entire stake (11.0%) in the share capital of Euskaltel for 216 million euros, within the framework of the voluntary takeover bid launched by Grupo MásMóvil. This sale generated a gross capital gain of 28 million euros.
  • Disposal of a 7.3% stake in Indra for 127 million euros and a 1.6% stake in Acerinox for 50 million euros.
  • The sale, through Deyá Capital, of the entire stake (16.8%) in the share capital of Alvinesa, for 48 million euros. As part of this investment, Alba achieved an IRR of 44.9% per annum over the company’s 4.1 years of ownership.
  • Sale of two properties in Madrid and various parking lots for 21 million euros.

Since December 31, 2021, Alba has made the following sale:

  • The acquisition of a 2.8% stake in Technoprobe SpA, for 95 million euros, as part of the company’s initial public offering on February 15. Technoprobe is an Italian company, world leader in the design and manufacture of complex probe cards electromechanical interfaces used in the testing of microchips in the production of integrated circuits. The Company is now listed on Euronext Growth Milan.
  • The agreement to sell, through Deyá Capital, the entire shareholding (28.1%) of Satlink. The sale is subject to compliance with certain conditions precedent, in particular the approval of the competition authorities, which should be obtained in the coming months.

Alba’s portfolio as of December 31, 2021 was as follows:

Listed investments

%

Unlisted participations

%

Acerinox

17.8

Atlantic Aviation

12.3

Befesa

5.1

GRE

14.7

CIE Automotive

12.7

Reunited Parks

25.0

Foods of the Ebro

14.4

profane

23.7

world domination

5.3

Verification

6.2

Indra

3.2

Through Deyá Capital

Naturgy

5.4

Alvic

7.8

Viscofan

14.0

In-Store Media

18.9

Monbake

3.7

Nuadi

37.4

To inform

24.8

satlink

28.1

food delivery brands

3.3

www.corporacionalba.es

(February 28, 2022)

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Corporacion Financiera Alba SA published this content on February 28, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on February 28, 2022 9:19:41 PM UTC.

Public now 2022

All the news about CORPORACIN FINANCIERA ALBA, SA

Sales 2021

Net income 2021

Net debt 2021

PER 2021 ratio 15.0x
2021 performance 1.93%
Capitalization 3,023 million
3,394 million
3,394 million
capi. / Sales 2021
capi. / Sales 2022
# of employees
Floating 24.6%

Chart CORPORACIN FINANCIERA ALBA, SA


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Trends in Technical Analysis CORPORACIN FINANCIERA ALBA, SA

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Tendencies Bullish Neutral Neutral



Evolution of the income statement

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Medium consensus TO BUY
Number of analysts 2
Last closing price

€51.90

Average target price

€53.20

Average Spread / Target 2.50%


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