Grupo Insur Increases EBITDA by 35.6% to 31.5 Million
Grupo Insur has had a successful year in 2023, closing with an EBITDA of 31.5 million euros, a 35.6% increase compared to the previous year. This growth was driven by asset rotation, including the sale of assets totaling 14.4 million euros. These strategic moves are part of the Group’s plan to divest assets in Seville in order to accelerate territorial diversification within the property activity.
The adjusted EBITDA, excluding the result of asset rotation, also saw a significant increase of 6.7% compared to 2022, reaching 22.6 million euros. The result of exploitation grew by 7.7% to 23.8 million euros, while the profit after taxes stood at 11.5 million euros, a 24.2% decrease compared to 2022 due to increased negative financial results resulting from rising interest rates.
The consolidated business of Grupo Insur reached 119.8 million euros, showing a 1.6% increase compared to the end of 2022. The promotional activity reached 84.7 million euros, with a 3.2% increase compared to the previous year. The turnover from property activity stood at 17.1 million euros, while the construction activity reached 13.7 million euros, and the turnover of the management activity saw a significant growth of 30.1% compared to 2022.
In terms of commercial activity, Grupo Insur saw pre-sales amounting to 114.5 million euros in 2023. The Group has made investments in new plots for the development of homes and in construction execution. At the end of 2023, the Group had 1,963 active homes, with plans to begin construction on more homes in the upcoming months.
Grupo Insur has also made strides in tertiary promotion, with several projects in development in Madrid and Malaga. Additionally, the Group has presented its Strategic Sustainability Plan for the period 2023-2025, showcasing its commitment to ESG criteria.
Overall, Grupo Insur’s financial performance in 2023 reflects its strategic planning and commitment to growth and sustainability.