CILSA, the ZAL PORT’s management company, obtains the best results in its history



CILSA ended 2017 with the best economic results in its history: it has registered a total revenue of 44.5 million euros, EBITDA of 21.8 million euros and a Net Result of EUR 6.1 million, and it has become the fourth largest logistics infrastructure operator in the Iberian Peninsula, managing 706.388 sqm only behind MERLIN Properties, Logicor and Prologis.

During 2017 214.785 sqm have been rented, the assets of LURI 6 (former BANIF Inmobiliario) have been acquired, which have incorporated 51,988 sqm, the delivery of the new logistics warehouses certified LEED Gold (in process) to Carrefour (18.215 sqm) and to FedEx (16.904 sqm), and the signing of two new contracts for new construction of 35.000 sqm for ALFIL Logistics and other 25.024 sqm for a new world leading international client in its sector.

Operationally, the occupation has reached 95.6% at year-end and highlights the substantial increase in maritime traffic during the exercise, generating 600,000 TEUS per year (one TEU equals to one 20 ft container).

After signing with the European Investment Bank's 75 M€ of external financing, there has been during this 2017 a capital increase of 37.3 M€, entirely subscribed by MERLIN Properties.

In this way, the company will close year 2017 with a total net financial debt of 82.6 M€ representing 3.8x EBITDA, the lowest ratio in its history which, together with a backlog (signed contracts revenue) that reach 313.7 M€, allows CILSA to have a robust and efficient financial position on which to sustain all of its growth in the next 4 years, where expected to invest about 200 M€ in the construction of 320,000 sqm of new logistics certified LEED.