The 2021 accounts confirm the positive evolution and reduction in expenses of the Cádiz Free Zone
The management strategy and Viability Plan launched by the Consortium for the period 2020-2025 is bearing the desired results.
The 2021 accounts prepared by the Cádiz Free Trade Zone confirm the good evolution of the Consortium presented three months ago in the accounts audited by the IGAE corresponding to the 2020 financial year and show that the expected fruits are being reaped when the management strategy and the Viability Plan launched by the Consortium for the period 2020-2025 were implemented.
In this way, the 2021 accounts reveal the positive evolution of the Cádiz Institution, which maintains the path of positive operating results, of 1.5 million euros, and a working capital also positive, of 12 million euros, evidencing a true turning point in the economic and financial situation of the Consortium, which sets the entity on the path of profits in the coming years.
As also important information, it should be noted that financial expenses have decreased for the second consecutive year by 8% compared to the previous year and losses have been reduced by 24%, a reduction that is added to that which already occurred in the previous year (50%).
In this sense, the achievement of a restructuring of the Reindus debt and the financial debt has been important, which has allowed the Consortium's total debt to be reduced by 21 million euros, 13% compared to that in force in 2020.
It should be noted that the boost to commercial activity and the optimization of assets that the Viability Plan includes has had great importance in these results. The reinforcement in the Business Promotion and Foreign Trade Area carried out at the end of 2020 has made it possible for large-scale operations to materialize, such as the sale of the Janer Tiro Industrial Estate or the recovery of important assets such as warehouse 23 of the tax precinct, now occupied by the company Petaca Chico.
In fact, in 2021, 74 lease contracts and 25 purchase and sale contracts were formalized, which have generated income of 130,000 euros per month in the first case and almost 9 million euros in the second. This, added to the income from the settlement of the agreement with the Los Barrios City Council, has meant an increase in income in 2021 of 12.8 million euros.
Furthermore, in 2021 the Consortium carried out other highly relevant operations such as the concession of an area of the edge of the Ribera dock by the Port Authority of the Bay of Cádiz where the equipment that will house a submarine cable storage and distribution company is already being built; the lease of the cross building of the old Altadis to the Civil Guard; or the arrival of Sola Rica to the tax precinct; To which we must add that the tax area of Cádiz has operators in continuous growth that demand more space such as Harinera Vilafranquina, Petaca Chico, Cayco, Olivia Energy Group or Cetárea del Sur.
In parallel to this commercial activity and the economic and financial improvement, mention must be made of the Comprehensive Improvement Plan of the Site, whose objective is to optimize and recover productive spaces, and the two great milestones that the Free Trade Zone of Cádiz is developing in the capital and in the Bay of Algeciras: the technological expansion center with the blue economy incubator of the Base Zone, the outer polygon of the Free Zone of Cádiz, and the change to a sustainable industrial model, more responsible and committed to the environment; and the Bahía de Algeciras Tax Precinct, in the municipality of Los Barrios. These two actions will involve the implementation of two centers of economic activity of great importance that will have an impact on the two Bays (that of Cádiz and that of Algeciras) and throughout their area of influence and will allow the Free Trade Zone of Cádiz to obtain new resources.
The delegate of the Cádiz Free Trade Zone, Fran González, has been satisfied with the evolution of the Consortium, “which is evident in the accounts prepared for 2021 and whose data confirms what the audited accounts for 2020 already indicated. All of this confirms the effort and important work we are doing to modernize the Institution and strengthen its structures, cleaning up the accounts and achieving an operating result and a capital fund. positive maneuvers.”
Fran González explained that "the accounts confirm that we are on the right path. Our Viability Plan is giving results both from the economic and financial point of view as well as from the commercial point of view and the recovery of productive spaces. The head of the Consortium recalled that it is important to emphasize that "we are working to optimize existing resources and implement a new sustainable and committed industrial model."