Villar Mir expects to triple profit in 2016 after winning 31% less – Economíahoy.mx

Javier Mesones – 3:58 – 06/28/2016

• Will buy mines in South America and build wind farms

Grupo Villar Mir (GVM) won 60.2 million euros in 2015, representing a reduction of 31% over the previous year. The holding company that controls, among others, OHL, has been penalized for losses Ferroglobe, the company resulting from the merger of FerroAtlántica and American Globe Specialty Metals, and Fertiberia, while the real estate division, meanwhile, contracted their profits.

by 2016, however, the projections of the group, which will chaired by Juan Miguel Villar Mir after restructuring in OHL, is that the net result is multiplied by more than three times until 200 million.

Only business concessions and construction, capitalized at OHL, which GVM has 58% stake (direct and indirect), showed improved results in the last financial year, with a rise of 141% to 32.7 million. Real estate activity (Inmobiliaria Espacio) contributed a profit of 53.2 million, which represents 33%, while Energy Villar Mir won 17.4 million. Ferroglobe led to a loss of 39 million and the division of fertilizers (Fertiberia) of 3 million.

The gross operating profit (EBITDA) of GVM amounted to 1119.8 million, which means a decrease of 17%. The sales advanced 12% to 7,254.5 million. Holding forecasts suggest that this figure will increase to 8,000 million this year (10.3% more).

The strategic priority group for the 2016-2020 period will advance the process of internationalization. GVM is already present in 38 countries and last year 69% of sales and 96% of EBITDA and came from the outside, where it employs more than 20,800 people (66% of the 31.617 you have in total).

by activities, Ferroglobe plans to acquire or take stakes in manganese mines, quartz and reducers in Africa and South America, as well as developing plants production of silicon metal and ferro-alloys and through silicon FerroSolar proceed to launch metal commercial solar photovoltaic quality silicon produced by electrometallurgy methods. Fertiberia, meanwhile, will focus on seeking opportunities in countries with good structural conditions for the production of fertilizers or agricultural market with high potential. Meanwhile, Villar Mir projection Energy has three new hydroelectric power plants on the river Xallas, Galicia, and the construction of one or several wind farms in Spain.

The strategy focuses on Inmobiliaria Espacio grow in the market rental property, as well as completing the project Canalejas in Madrid. OHL, meanwhile, will develop the strategic plan announced last year, focused on winning profitable projects and concessions -in grow in countries like the United States and Canada and in the industrial business.

Other news

sponsored Content