The delegate Fran González presents tomorrow the progress of the annual accounts of 2024 that yield a positive balance of 1.9 million euros and that they find that the Cadiz consortium Recover solvency and investment capacity with a marked positive evolution in the 2019-2024 period
In five years, the Free Zone has doubled its assets and triplicate the income from the companies of companies installed in the fiscal enclosure reaching 7.4 million euros
The business figure also recorded a remarkable recovery that was reflected in the turnover of 2024, 9% greater than that of 2019
The solid financial recovery of the entity has made the return to profitability and reduction of financial expenses and indebtedness possible
The Free Zone of Cádiz has been growing and recovering its solvency and liquidity with a marked financial evolution in positive in the period between 2019 and 2024, which strengthens as a solvent entity, with benefits and sufficient margin to undertake future projects with comfort. This is reflected in the advance of the 2024 accounts that are presented tomorrow to the plenary.
This report confirms the return to profitability with the achievement of benefits of 1.9 million euros in 2024 after 13 years of losses. The positive evolution is clear when in 2019, shortly before the arrival of the current management team, the losses were 8.8 million euros, negative results that were reduced almost half in 2020-2021 until reaching 2 million euros negative in 2023 and completing with a positive balance in the last year.
The strategy for the promotion of the marketing of consortium spaces is offering very positive results that are demonstrated in this balance with important data to be taken into account, such as the solid recovery of the business figure, which was reflected in a significant increase in billing, which has increased 9% compared to 2019.
In this same sense, there has been a significant increase in income from the company's corporate tax resource installed in the Gaditano fiscal enclosure, which has tripled the average in the last five years, reaching the figure of 7.4 million euros.
Another important fact to keep in mind is that the net worth of the Free Zone of Cádiz has doubled in the period between 2019 and 2024, from 72 million euros in 2019 to 144 million euros in 2024, which gives the capacity entity to face long -term financial obligations.
The liquidity position of the Cadiz institution is also remarkable, which has gone from a great financial imbalance with a negative maneuver of 3.3 million euros in 2019 to reach the positive figure of 26 million euros in 2024.
Important chapter is that of indebtedness, which when the current delegate Fran González assumed the position was around 200 million euros. The implementation of a progressive reduction strategy with early cancellations of Reindus loans in 2023 and 2024 made possible a total debt decrease of 90 million euros, a downward trend that will continue in 2025 with the early cancellation of 6.5 million euros of bank loans, which will make the total decrease in the debt reach 97 million euros. The financial management strategy, all framed in the 2021-2025 viability plan, also made possible a reduction in financial expenses by 46% (6.8 million in 2019 compared to 3.7 million in 2024), with the total restructuring of the Reindus debt and financial debt.
The viability plan, which has already been fulfilled, will now give way to a strategic plan for the 2026-2030 period, currently in elaboration, aimed at positioning the Free Zone of Cádiz as a reference in blue economy, sustainability and technological innovation, with the promotion and impulse of projects linked to industry 4.0, the blue economy and blue carbon.
The financial solvency obtained in the analyzed period provides the Gaditano Consortium in investment capacity and the possibility of undertaking in progress and futures with slack, to which is added the confidence that Europe has deposited in the entity with the new FEDER aid for the ZF Blue Core project, a nursery of companies 4.0 that will complement the work developed by Incubazul.
The delegate of the Free Zone of Cádiz, Fran González, has shown his satisfaction with this evolution of the consortium and has stated that "we can assert that the economic situation of the Free Zone of Cádiz is far fortunately from what was once and there are many figures that endorse it and above all they do in this 2024 whose advance we present tomorrow to the plenary."
The delegate of the Free Zone has added that “in this sense we can highlight how the business figure has increased by 2024 above 9% compared to the previous year and how we have also increased the income capacity in the liquidation of the company tax exceeding 7.5 million euros, together with the net assets, which we have doubled and amounts to 144 million euros”.
"These figures are gathered above each and every pie said Fran González.
