Grandvalira – Ensisa closes 2015 year with a profit of 3.6 mlm euros

canillo-grandvalira-2015The General Director of of Grandvalira-Ensisa, Andorra (Pyrenees), Conrad Blanch reported on the final results of the 2014-2015 season – the company recorded a profit of 3.6 million euros, 800 000 euros more than in the previous season.

The Board of Directors decided to pay dividends to shareholders in the amount of 900 000 euros. The rest part of the profit will be allocated to the reserve fund and invested according to a further development plan. It was announced at a meeting of the Council of administration of Canillo parish.

Conrad Blanch noted that the company payed great attention to the development of ski infrastructure facilities. In particular, Grandvalira opens new gondola ski lift at the ski sector “El Tarter”, which was built in record time – 5 months.

Ensisa owns a controlling stake in Grandvalira, the largest ski resort of Andorra. The debts of the company are estimated at 5 mln euros.

Financial results of Ice Palace in Canillo (Palau de Gel) in 2015 were also presented at the meeting of the Council of Canillo. By 30 of September of this year revenues from operating income amounted at 89981 euros. Investments aimed at modernizing of the ice rink also increased. For this reason, it is expected that total debt of Palau de Gel, which has been declining in recent years, again will rise to 448000 euros in 2015 against 311000 in 2014.

See also Andorra best ski resorts

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See also Andorra business guide

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