The rescue of Arias Infrastructura.ValencianaEsasenciashayfinanzas.Cominversiónsocial Investored Books Gol
The negotiation with the banks proposed by their current owners is the previous step to the eventual presentation of the pre -conclusion of creditors by the construction company
Mario Barcenilla (right) and Antonio Aranzadi, president and vice president of Arias Infrastructuras / Arias Infrastructuras
Por X. R.MoscosoArias infrastructure is at a particularly delicate moment in terms of its financial health, which hits a thread that turns out to be the negotiations that it has activated with the crediting bank.This is understood by both the company itself and the group of banks with whom Arias has contracted much of its debt.The conversations, thus, are framed in the prelude to the presentation of the pre -conclusion of creditors in order to avoid reaching the court.
With a workforce of 130 workers and a financial debt of ten million, Arias has lost money again in 2021, with red numbers of one million euros at provisional closure of the year.The coup of the COVID-19, the increase in supplies and defaults have led to the situation, according to the company itself, managed by its owners, Mario Barcenilla and Antonio Aranzadi.
Labor and financial adjustment
Arias Infrastructuras plans to carry out in the first quarter of the year.At the same time, a refinancing negotiation with banks will begin with the aim of postponing financial obligations, as Galicia Digital Economy has already advanced.
All this, with the aim of avoiding the preoccup course to which it appears, a legal figure with which it would nevertheless gain time to negotiate and reach an agreement with its creditors, for a period of three months.During that period the executions are blocked and the creditors can be prevented to request the declaration of a necessary contest.
The round trip of the debt
For the numbers, the situation of Arias represents a time trip.The construction company changed shareholders in June 2018.At that time the debt was 9.7 million euros, without considering the guarantees, which only in a work hired in Bolivia was about three million.The business plan presented by Barcenilla and its partner Aranzadi when they disembark in Arias would reach until 2021.
With the planned investments and the economic perspectives known in that year, the objective set was to reach in 2021 revenues of 34 million euros, with an EBITDA (gross exploitation benefit without considering financial or fiscal costs) of 2.7 million,and a 7.8% margin on income.
Failurely and Xesgalicia plan
According to this roadmap, the group would focus its activity only in Galicia, diversifying the construction business with conservation and maintenance activities, and abandoning the international business.The numbers have not come out.At the provisional closure of last year, the company billed 21.3 million, with a negative Ebitda of 700.000 euros, far from the marked business plan.
Arias Infrastructuras received a first oxygen ball in 2020, and was signed by Xesgalicia.Through its investment arm, the IGAP.
X.R.Moscoso