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CILSA, the ZAL Port’s management company, increases its revenues by 12,6% reaching 50,1 M€, the highest in its history

04/09/2019
CILSA

CILSA, the ZAL Port’s management company, increases its revenues by 12,6% to reach 50,1 M€, the highest in its history

 CILSA has finished 2018 with the best economic results in its history: it has registered a total revenue of 50.1 million euros, an EBITDA of 26.1 million euros and a Net Result of 9.1 million euros, consolidating as the fourth largest logistics infrastructure operator in the Iberian Peninsula and managing 739,692 sqm, only behind MERLIN Properties, Logicor and Prologis.

All this allows to increase the business Free Cash Flow by 34.4%, reaching 21.1M, which together with the € 75M that has financing with the EIB (European Investment Bank) will allow to undertake the investment total amount of € 150 million in the 2018-2021 period to achieve 100% of its development.

During 2018, 207,511 sqm have been contracted, and contracts have been signed for the construction of new LEED-certified buildings, reaching 271,000 sqm with clients like DAMM group (35,000 sqm), Caprabo (23,000 sqm) and Agility (11,200 sqm). ), two international HUBs of 61,000 sqm and 96,000 sqm for two leading international distributors in their sector, generating more than 120,000 TEUs for the Port of Barcelona, ​​25,000 sqm for a new international world leader customer in the e-Commerce sector, and two new logistics projects of 13,000 sqm and 6,800 sqm respectively. With these developments CILSA now manages 739,692 sqm of leasable area.

Operationally, occupancy stood at 98.6% at the end of the year and the remarkable increase in maritime traffic during the year is noteworthy, generating 640,000 TEU / year (one TEU is equivalent to a 20-foot container).

In this way, the company closes the year 2018 with a total net financial debt of € 69 million, which is 2.7x EBITDA, the lowest ratio in its history that, together with a backlog (signed contracts income) that reaches € 640 M, allows CILSA to have a robust and efficient financial position on which to sustain all its growth over the next 4 years.

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