Hispania increases its turnover by 10% in 2017

Hispania increases its turnover by 10% in 2017

The net income of the assets reached €129 million and the ordinary net profit amounted to €391 million. At the end of the year, the net value of the assets according to EPRA was €1,735 million, equivalent to €15.93 per share which, added to the €17.2 million of dividends distributed during the year 2017, signifies a profitability obtained by the shareholder of 17%. The company's total return for the year on the stock exchange has reached 42%.

Another relevant factor of the results has been the value reached by Hispania's assets, totaling €2,475 million after obtaining a revaluation of 15% in comparison with 2016.

Hispania has announced its intention to distribute €95 million in dividends (€0.87 / share), of which €45 million will be disbursed on March 5; €32 million of share premium that will be subject to approval in the next General Shareholders' Meeting, and €18 million as an additional dividend.

Hispania has finished the first phase of its financing strategy, which includes temporary financing intended to cancel Bay's mortgage debt and finance the acquisitions committed at the end of the year, and which will be repaid with a bonus that Hispania intends to issue in the next months. In addition, the SOCIMI has signed a line of credit to finance the capex plan of Hispania in the amount of €225 million, and that will be disbursed following the works plan.

During the year, Hispania has committed more than €340 million in new investments, among which the acquisition of Hotel Selomar, in Benidorm; the Hotel Fergus, in Palma de Mallorca; and the purchase option on seven hotels operated by Alua with more than 1,700 rooms; that with the acquisition of 24% of BAY that was maintained by the Barceló Group, allowed us to commit all the remaining investment capacity before the end of the investment period at the end of the year.

Regarding the residential segment, Hispania continues with the repositioning works in its buildings and with the retail sale plan that began at the end of 2016. During the period, a total of 83 units were divested between Isla del Cielo and Sanchinarro, accumulating a capital gain of 38% on the investment made.

Concha Osácar, counselor of Hispania, says: "2018 is presented with wonderful market perspectives in the three sectors in which Hispania operates and our strategy continues full of levers to create value, which makes us believe that we have a unique opportunity to keep generating high profitability for our shareholders ".

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