Disa Corporación Achieves €6.1 Billion in Assets Amid Market Challenges
Disa Corporación Petrolífera, a prominent player in the energy sector based in the Canary Islands, has announced a remarkable asset total of €6.1 billion. This achievement comes despite the company navigating a turbulent market landscape marked by declining crude oil prices. Disa’s ability to maintain a strong financial performance amid these challenges underscores its resilience and strategic positioning within the industry.
Financial Performance Overview
In the most recent fiscal year, Disa reported revenues of €6.45 billion, which represents a 14% decrease compared to the previous year. This decline can be attributed to the broader market conditions affecting the oil industry. However, the company’s diversified operations have played a crucial role in cushioning the impact of these fluctuations. Notably, Disa’s net profit saw a significant increase of 16%, rising from €173 million to €201 million. The company also reported a gross cash flow of €370 million, indicating strong operational efficiency and effective cost management.
Shareholder Returns and Dividends
In a move that highlights its commitment to shareholder value, Disa’s board has declared a dividend distribution of €106 million, up from €96 million the previous year. This increase in dividends reflects the company’s ongoing strategy to reward its investors, having returned a total of €700 million to shareholders between 2015 and 2024. Such consistent returns not only enhance investor confidence but also reinforce Disa’s position as a reliable entity in the energy sector.
Corporate Governance and Structure
Disa’s governance framework is characterized by a diverse shareholder base comprising 200 partners. A notable stakeholder is the Carceller family from Madrid, which holds a substantial 34% stake through their Dutch holding company, Padlock Holding. The family members occupy four out of the nine positions on the board, with Demetrio Carceller serving as chairman and José Carceller as CEO. Other board members include María and Lourdes Carceller, along with Carlos Ribas Vila, José Oriol Recasens Carreras, Ángeles Alzamora Figueras-Dotti, Alejandro Biosca Bérgamo, and Rafael Ruiz Hernández. The company operates from its headquarters located on Álvaro Rodríguez López Street in Santa Cruz de Tenerife, which serves as a hub for its strategic decision-making processes.
Corporate Scale and Operations
Disa is recognized as the largest conglomerate in the Canary Islands, excelling in various financial metrics such as revenue, profits, and total assets. The company operates an extensive network of 160 direct subsidiaries and employs approximately 10,500 individuals, making it a significant employer in the region. Disa’s primary business focus is on retail fuel sales, managing a network of 908 petrol stations across the Canary Islands, mainland Spain, Portugal, and Uruguay. In the past year alone, Disa’s operations sold an impressive 3.1 billion liters of automotive and industrial petroleum products, showcasing its pivotal role in the energy supply chain.
International Ventures
In a strategic move to broaden its market reach, Disa expanded its operations in 2020 by acquiring a network in Portugal, which operates under the Prio brand. This acquisition not only enhances Disa’s footprint in Europe but also complements its existing operations. Additionally, the company owns a storage facility in the port of Aveiro, which has a capacity of 100,000 tonnes, further solidifying its logistical capabilities. Disa also made a significant entry into the Uruguayan market in 2021, where it established petrol stations and storage tanks with a capacity of 96,000 cubic meters, along with a fertilizer plant, diversifying its portfolio and revenue streams.
Leadership in Renewable Energy
Disa is also a key player in the renewable energy sector within the Canary Islands, boasting a generation capacity of 109 MW, which accounts for a notable 13% market share. On the mainland, the company has an additional 48 MW capacity, and it operates 9 MW in Chile. This commitment to renewable energy not only aligns with global sustainability trends but also positions Disa as a forward-thinking company ready to embrace the future of energy production.
Diverse Investment Portfolio
The company’s investment portfolio is diverse and includes significant stakes in various industries. Disa holds a prominent position in the Catalan brewery Damm, which is a leading entity in Spain’s brewing sector. Furthermore, it possesses a 50% share in Cacaolat, a dairy producer based in Barcelona. Disa also owns 12.9% of the publicly listed construction firm Sacyr, with this investment package valued at €390 million. Such a varied investment strategy not only mitigates risk but also enhances the company’s potential for growth across different sectors.
Strong Financial Health
Disa’s consolidated balance sheet reflects robust financial health, with total assets amounting to €6.114 billion, marking a historic high for the group. Of this total, 10% consists of cash and liquid funds, providing the company with a solid liquidity position. Significant asset categories include industrial and commercial real estate, as well as service stations, valued at €1.2 billion. The company’s equity, which includes capital and reserves, is nearly €2 billion, further demonstrating its strong financial foundation and capacity for future investments.
Key points
- Disa Corporación Petrolífera reported revenues of €6.45 billion for the past fiscal year.
- Net profit increased by 16%, reaching €201 million.
- The company announced a dividend of €106 million for shareholders.
- Disa operates 908 petrol stations across multiple countries.
- The conglomerate has a total of 160 direct subsidiaries and employs 10,500 staff.
- Disa has expanded into international markets, including Portugal and Uruguay.
- The company is a leader in renewable energy generation in the Canary Islands.
