Lantania exceeds forecasts and achieves an income of 58.5 million euros in its first year

• The infrastructure, water and energy group closes 2018 with an EBITDA of 7.7 million euros and reduces its liabilities by 33
• The company will start the internationalization process and optimize its debt structure this year

Madrid, April, 4th 2019. Lantania exceeded forecasts and closed 2018 with an income of 58.5 million euros, compared to the forecast of 40 million euros. In its first year of activity, the infrastructure, water and energy group achieved an EBITDA of 7.7 million euros and a pre-tax profit of 5.3 million euros. “We have scored highly this year, beating the figures established in our business plan for 2018, both in terms of income, profit and new contract awards”, said Lantania’s CEO, Federico Ávila.

The company has dedicated more than 90% of the cash generated to the amortization of debt and has reduced by 33% its debt, getting to a figure of 2.3 times EBITDA. On the other hand, the group’s equity reaches 5.7 million euros while assets exceed 70 million euros. To put these figures in value the president of Lantania underlines the exceptional character of 2018 for the company, as it is “an atypical fiscal year, the first one, especially if one keeps in mind that the formal birth of Lantania took place in September”.

The company’s backlog exceeds 200 million euro, consisting of 33 projects. Lantania has added seven new projects over the past year apart from those already under construction, such as the Almudévar dam (Huesca), the bridge over the Genil river in Huétor Tájar (Granada) or the Corno high speed rail tunnel (Orense).

2019, year of consolidation

2018 has been a start year for Lantania and 2019 will be the year of consolidation. “The prospects for the next months are very positive, continuing with the trend of improvement of the projections established in our business plan,” says Federico Ávila. Company’s Strategic Plan establishes the goal of reaching a 145 million euros income in 2022, in the most conservative scenario. Within the most favorable framework, the company expects to exceed 200 million euros, compared to the 58.5 million euros reached in its first year.

Apart from the purely financial goals, the company has established other several challenges for 2019 such as getting new work from certain strategic customers, the start of the internationalization process and the optimization of its debt structure. In this sense, the president of Lantania points out that the company is “in the final stage of closure of several corporate transactions that we hope to announce shortly and that will bring us a significant increase in our backlog, as well as entry into new markets.”

These challenges are in addition to the process of continuous improvement and digital transformation in which the company is involved, as well as the goal of being among the top 10 infrastructure companies in Spain in three years.

About Lantania

Lantania is the result of the acquisition of the construction, water and energy business units of Isolux Corsán by a team of former company executives. The group is structured around three main business areas: infrastructure, water and environment and energy. It has a backlog of work in progress exceeding 200 million euros, consisting of 33 projects, and assets close to 70 million euros. The company has a staff with an average experience of 22 years and has an important machinery park, which once belonged to the sixth construction company in Spain, with more than 1,200 references.