Jorge AguilarSEGUIRMadrid Updated: Save Send news by mail electrónicoTu name *
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The English Court won € 310 million in 2019, 20% more, according to the results that the company has given to know in the day of today. The group chaired by Marta Álvarez achieved its the greatest benefit of the past nine years in the fiscal year of the last year, ended 29 February, and also continues decreasing its high level of debt. In particular, this came at 638 million euros, up to 2.729 million. This reduction has been key this year the sale of its information technology division to French group GFI by at least 350 million.
the company’s sales also grew by 1.2% with respect to 2018, up 15.260 million . It should be noted that in the comparison of the turnover, The English Court has excluded the sales of its information technology division from the previous exercise. In addition, the gross margin increased by 0.3%, while ebitda grew 5.4%, to 1,097 million. So, debt/ebitda ratio stood at 2.3, close to the 2 that has as its goal the company.
In regard to the items of investment, The English Court has reported that it has earmarked a total of eur 344 million. A large part of that amount has gone to strengthen its digital business.
For the lines of business, the majority of sales come from retail, which includes department stores, supermarkets Supercor, and the shops Atmosphere. In total, the sum of the three came to 13.127 above million. The more weight you have the large department store, which billed 11.887 million. For its part, Supercor and Sfera sold 714 and 461 million euros, respectively.
For its part, the travel division increased by 0.4% of their sales to 2.731 million euros, while insurance grew 8.1%, to 215.6 million euros.
Crisis of the Covid
These results, at the end of the 29 of February, do not reflect the impact suffered in the crisis of the coronavirus, a fact that is known when the group spread their numbers in the first half. The English Court had to close its more than 90 facilities that you have in Spain in march, after the declaration of a state of alarm until the 8th of June, date in which he was able to resume its activity with some semblance of normalcy. Was only operating in the confinement its areas of power and internet sales.
the Result of this inactivity, the company had to apply a STRONG to nearly 26,000 employees. Now, with the reopening, the template has been reincorporating gradually to the activity. Despite the large impact of the crisis on the group’s sales, The English Court stands out thanks to its “financial strength” has been able to aforntar the impact of the crisis.
To address this crisis, The English Court came to an agreement with fourteen banks for a credit 1,311 million euros with a maturity of one year. This amount is added to the 2,000 million euros of its debt that is refinanced with the banks in the past month, February. This refinancing expires in 2025.