ACTIVITY:
Supply of coverage (guarantees and bails) to natural or legal persons, for promoting investment financing in the forestry, agrarian, stockbreeding, food and agriculture, and fisheries sectors.PARTICIPATION SEPI: 80% a 31/12/2009
| Name: | SAECA |
|---|---|
| Year of Incorporation: | 1988 |
| Sector: | Finances |
| Chairman: | Rosa María Miguélez Ramos |
| Turnover (Million Euros): | 4.7 (year 2009) |
| EBIT (Million Euros): | 2.2 (year 2009) |
| Final workforce: | 32 workers (year 2009) |
| Registered office: | c/ Jorge Juan, 19, 28001, Madrid |
INFORMATION ABOUT SAECA
Activity of the company in year 2009:
The activity of the Company as a provider of financial coverage through the grant of guarantees, both to natural and legal persons, which carry out their economic activity in the countryside (farming and stockbreeding), has maintained a very dynamic profile during 2009, regardless of the uncertainties of the financial and sectorial environment.
SAECA has executed during the year new guarantee deals, which amounted to almost 33 Million Euros, especially in Catalonia and Aragón, with over 20% of the guarantees, in Western Andalusia, with 17.3%, and Castilla y León with 16.2%. Of the new investments made with SAECA's guarantee, over 35% corresponded to improvements in irrigation, machinery and buildings, while 18.3% was applied to financing stockbreeding activities. The book of guarantees in force reached 442 Million Euros at the end of 2009, and of this, 12% was re-endorsed with Cersa.
On the other hand, the difficult economic and financial outlook, which has negatively affected all the industry operators, has also influenced SAECA, with an increase in its default levels which, although continue being low (1.65%) and are below the market average thanks to the strict criteria applied to risk selection and the control and follow-up of non-payments.
In financial terms, SAECA recorded during the year 4.7 Million Euros turnover, and its net profit reached 2.2 Million Euros, higher than that recorded in 2008 (when generic provisions were made), thanks to the higher income made as a result of the significant volume of guarantees executed in the last few years; special mention must be made to the stockbreeding line promoted by the Ministry of the Environment and Farming (MARM) in 2008, which granted guarantees for the amount of 226 Million Euros.
It must be highlighted too that the MARM published on March 2010 a Ministerial Order with a new program of aid for the industry, in which SAECA will play the role of collaborating entity, granting the guarantees required for facilitating the financing of the sector by the banks.
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