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Millenium’s Revenues Were 47.8% Higher YoY in H1 2022 and its Portfolio Now Amounts to Almost €500 Million

The Socimi plans to go public before June 2023. In May of this year, it approved the second disbursement of a capital increase amounting to 156.4 million euros.

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The Socimi Millenium has published results. During the first half of this year, the company recorded a net profit of 15.8 million euros, compared to 1.2 million euros in the same period a year earlier. Moreover, it recorded revenues of 5.5 million euros, up by 47.8% compared to the first half of 2021 thanks to an improvement in the performance of the hotel sector (+49.2% vs 2021) and in the golf course segment (+39.3% vs 2021).

Millenium has also seen its portfolio grow to reach a GAV of 445 million euros, a figure that was driven by the sale of the Vía Castellana hotel in January for 43 million euros, from a CAPEX of 27.7 million euros resulting from the progress in its hotel repositioning work and an increase in the valuations carried out by an independent expert amounting to 16.8 million euros.

Read the full article in Spanish.


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