Eight decades allow for many achievements. What moments do you consider most decisive in the evolution of Insur Group?
As in all companies with a long history, there are key moments and decisions that determine its future.
The first was, evidently, the large purchase of developable land, approximately 500,000 m2 of roof space, made shortly after the incorporation of the Company and which forced, in order to finance its development, to undertake a significant capital increase the following year, five times the initial capital, bringing in new partners, thus determining a unique shareholding configuration that favored its listing on the stock market 40 years later.
This large operation also determined the company’s general strategy, given that to develop this important land pool, some plots were also sold under the contribution formula, receiving in exchange the premises on the ground floor and offices on the mezzanine of the promoted buildings, thus giving rise to our incipient heritage vocation.
In addition to this key moment, I would point out others such as:
- Our going public in 1984, through a listing operation, has marked the future of the company since then.
- The promotion and construction at the end of the 80s of the Buenos Aires building, on Avenida de República Argentina, of about 45,000 m2 of offices, intended for leasing and which represented the consolidation of our heritage vocation.
- The purchase in 1996 of a large bag of urbanized land in Marbella, next to the Port of Banús, with 100,000 m2 of buildable area, where we developed several developments for a few years that today make up the Los Naranjos Urbanization of Marbella and which marked the Company’s first departure outside of Seville.
- The decision in 2007 to extend our activities to the Community of Madrid.
- The alliance with Anida of BBVA in 2015 to develop a large pocket of urbanized land in Dos Hermanas, in the Entrenúcleos sector, acting as a driving force for the development of this large sector of the metropolitan area of Seville.
- Our incorporation in 2015 to the general segment of the continued market on the Stock Exchange.
In 2025, Insur presents increases in its turnover and net profit. How do you describe the current moment of the group at an operational and financial level?
We had already been announcing in the successive presentations of results that the bulk of the turnover and results would be concentrated in the last two years of our current 2021/2025 Strategic Plan. The 2024 figures were very positive and in 2025 we expect to far exceed them, as is becoming evident in the 2025 interim financial reports.
We are experiencing a time of great activity, with magnificent commercial performance, stable margins, reducing debt levels, with a comfortable treasury position and obtaining financing for the development of all our projects.
Grupo Insur shares have accumulated a rise of 60% in the last year. To what factors do you attribute this evolution in the market?
Firstly, the good moment that equities in Spain are experiencing this year 2025.
Secondly, the good times that the real estate sector is experiencing and, especially, the residential development sector, especially taking into account the good prospects that the sector presents for the coming years.
And, thirdly, for the good figures and results that we are presenting and the great discount at which we were trading with respect to our real value. Although this gap has been reduced, we are still trading at a large discount and this, together with our good prospects, should contribute to the price continuing to improve.
The dividend has been a constant in Insur’s remuneration policy. How important is it to maintain an attractive and stable remuneration?
Indeed, for many years we have maintained a constant shareholder remuneration policy, consisting of distributing, via dividends, a percentage between 45% and 50% of the profit after taxes. This policy, which aims to serve the interests of the vast majority, gives security and confidence to our shareholders.
Looking to the future, what legacy do you want to leave in this 80th anniversary year and how does it translate into the new Strategic Plan 2026–2030?
Our company has made great progress in recent years, not only in the volume of our operations and the way we carry them out, but also in other relevant issues such as the diversification of financing sources, governance, innovation and digitalization, criminal compliance and implementation of ESG criteria. We have also reduced our level of debt, placing the LTV at one of the lowest levels in the last ten years, we have a great human team and we have further improved our image and good reputation. Taking into account these strengths and the good prospects of the sector in the coming years, we are developing a new Strategic Plan that projects significant growth, around 60%, in the main magnitudes, in line with the growth that we hope to achieve in the current Plan, which ends precisely in 2025.