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CILSA (ZAL Port) has signed new turnkey contracts in 2018 to build 271,000 sqm

12/18/2018

CILSA (ZAL Port) has signed new turnkey contracts in 2018 to build 271,000 sqm

 CILSA, the company that manages the ZAL Port has had the best year in its history. It has signed new turnkey contracts to develop 271,000 sqm of new logistics warehouses with national and international first level operators, which means a total investment above 150 M€ in the period 2018-2020. This also concludes the development of the 445,000 sqm of land that CILSA has in its portfolio, allowing to finish completely both the ZAL Port (Prat) and the ZAL Port-Ciutat.

All this will result in handling of more than 130,000 TEUs each year through the Port of Barcelona, which is one of the main objectives of this logistic development shared by MERLIN Properties, first Real Estate Investment Trust of the IBEX-35 (the Spanish Stock Index), and by the Port of Barcelona.

It includes new agreements with companies that have been established in the ZAL since 2017, agreements adding to the 35,000 sqm for the grupo DAMM, and the existing 23,000 sqm of Caprabo (grupo EROSKI): two international HUBs of 61,000 sqm and 96,000 sqm for two international distributors leading in their sector; a new project of temperature controlled logistics warehousing of 13,000 sqm for an operator in the food sector and three new logistics projects of 25,000 sqm, 11.200 sqm and 6,800 sqm for freight forwarders, logistics service providers and leading international carriers in their segments.

This development will take place during 2019 and 2020 and much of these square meters will already be delivered to customers during the first half of 2020.

Alfonso Martínez, general manager of CILSA has pointed out that "the total of this investment of more than 150 M€ will be made possible with own resources and with the provision of a loan signed with the BEI (European Investment Bank) of 70M€ in 2017, which will allow the company to incorporate 30 M€ of new revenue and 25M€ EBITDA, reached in 2022 - when these new developments are in operation – with around 80 M€ total revenues, an EBITDA of 50 M€ and a cash Flow higher than 42 M€ ". All these new contracts allow CILSA (ZAL Port) to reach a backlog (revenue guaranteed by contract) from 640 million euros to December 2018.

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