OTHER BUSINESS: RESIDENTIAL TOURISM DEVELOPMENT

Las Colinas Golf & Country Club has performed very well over the year. For the fourth year running, this business line generated positive EBITDA, growing from €12.1m in 2017 to €12.9m in 2018.

Residential property development is the main business, which includes the sale of land and homes under development. It is worth noting that the evolution outlined below is presented from the point of view of sales and commercial margins, while the income statement shown at the beginning of this section follows accounting principles. Growth is in the order of 48.2% in sales revenues amounting to €33.7m and 43.5% in terms of sales margins, rising to €17.5m. This financial year has been exceptionally good thanks to the second part of a deal through which the scope of the joint venture set up in 2016 with a local developer was extended.

As regards operations, this includes golf, restaurants and accommodation, 1.7% growth in turnover was recorded, reaching €5.1m. As far as EBITDA is concerned, it dropped to €271k.

  • Key financial data on Las Colinas Golf & Country Club

Las Colinas Golf & Country Club has performed very well over the year. For the fourth year running, this business line generated positive EBITDA, growing from €12.1m in 2017 to €12.9m in 2018.

Residential property development is the main business, which includes the sale of land and homes under development. It is worth noting that the evolution outlined below is presented from the point of view of sales and commercial margins, while the income statement shown at the beginning of this section follows accounting principles. Growth is in the order of 48.2% in sales revenues amounting to €33.7m and 43.5% in terms of sales margins, rising to €17.5m. This financial year has been exceptionally good thanks to the second part of a deal through which the scope of the joint venture set up in 2016 with a local developer was extended.

As regards operations, this includes golf, restaurants and accommodation, 1.7% growth in turnover was recorded, reaching €5.1m. As far as EBITDA is concerned, it dropped to €271k.

  • Key financial data on Las Colinas Golf & Country Club