05/13/2016

Alba’s net profit reached 65.8 M€ in the first quarter of 2016

Corporación Financiera Alba’s consolidated net profit after taxes reached 65.8 M€ in the first quarter of 2016, 52.2% lower than the same period of the previous year. This decrease is mainly due to the fact that no asset sales were made in 2016, as opposed to the first quarter of 2015 were capital gains were recorded as a result of the sale of 1.47% of ACS and 3.10% of Acerinox.

The Net Asset Value (NAV) reached 3,673.2 M€, equivalent to 63.07 € per share. Alba’s share price of 34.00 € on this same date represents a discount of 46.1% compared to the NAV per share. The NAV has increased by 0.19% in the quarter.

During the first quarter of 2016, Alba has invested 50.4 M€ in increasing its shareholding in BME and Viscofan: a 1.12% in BME (27.4 M€), reaching a shareholding of 11.69% in their share capital, and an additional 0.93% in Viscofan (23.0 M€), reaching a 7.79% stake.

At the end of April, within the initial public offering of Parques Reunidos Servicios Centrales S.A. (“Parques Reunidos”), Alba acquired shares representing 8.00% of the company’s share capital, which represents a total investment of 100.1 M€.

Alba’s portfolio at 31 March 2016 was as follows:

Listed entities Unlisted entities
Acerinox 19,6% Mecalux 24,4%
ACS 11,7% Panasa 26,5%
BME 11,7% Flex 19,8%
Ebro Foods 10,0% Siresa Campus 17,4%
Indra 11,3% EnCampus 32,8%
Euskaltel 10,0% In-Store Media 18,9%
Viscofan 7,8% Ros Roca 17,4%
Clínica Baviera 20,0%