Montebalito acquires the Meridional Gallega real estate for €11.8M

Montebalito acquires the Meridional Gallega real estate for €11.8M

The company justifies this operation in the fact that Meridional Gallega has in its portfolio "a series of interesting real estate businesses, either directly or through subsidiaries, among which are a development of 20 homes in Canido (Vigo) that stands out, a 50% lot also in Canido with a local partner, industrial land in San Andrés de Comesaña (Vigo), the recent acquisition of an office building in the Plaza de Compostela in Vigo for its conversion into 19 homes, some offices in exploitation of assets also in Vigo and other less significant assets ".

The company has also informed the National Securities Market Commission (CNMV) that "their development may lead to an increase in business volume in the next three years of more than 36 million euros, with significant profitability."

Montebalito, which has also approved the sale of Residencial Hontanares for 1.8 million euros to Tam Inversiores Mirasierra, expects to bill 28 million euros in 2021, 135% more than a year ago, while the net result after taxes will be of 3.3 million euros, compared to the losses of 5.8 million registered in financial year 2020. Looking ahead, and in compliance with its latest Three-Year Plan, the objective is to continue exceeding this profit figure during the next two exercises.

On the other hand, the shareholders' meeting has approved a remuneration of the issue premium of 12 cents per share for the year 2022, with a distribution of 6 cents per share, to be paid in the months of January and June, a distribution that is net since it is charged to the share premium reserve.

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