The highest governing body of the Consortium met today and the main item on the agenda was approved with all votes in favor and one abstention.
The Plenary Session of the Cádiz Free Trade Zone Consortium today approved the annual accounts for the 2014 financial year that have been presented to the highest governing body of the Consortium, which met today and gave its approval, once the Audit Report prepared by the General Comptroller of the state (IGAE) was presented, with all votes in favor and one abstention.
The 2014 accounts approved today show for the first time in recent years a positive operating result close to one million euros, in addition to consolidating the positive effect of the restructuring of the financial debt carried out in 2013 and completed in 2014.
However, the result has been affected by the high financial cost that Zona Franca still pays for the existing debt and by the deterioration derived from the investee companies as a consequence largely of the loss of value accumulated in the participation of the company Tecpal, of Los Barrios.
The evolution of the Consortium's accounts suggests a balance in the very short term, taking into account that the projects and work carried out are now in the commercialization process, which will result in a positive result.
The meeting held today by the Plenary Session of the Cádiz Free Trade Zone Consortium is the second chaired by José María González, mayor of Cádiz and president of the Consortium, and in it the agreements of the Executive Committee of July 24, 2015, which were pending inspection, although with the corresponding minutes approved, have also been audited.