During the first semester of 2018, the Group ICF has facilitated the financing, through loans and guarantees, to 746 companies for a total amount of €213 million, which €147.9 M have been formalized through the ICF and €65.1 M through Avalis de Catalunya, with the objective of contribute to the growth and to the sustainability of the Catalan economy.
The 97.6% of the projects funded has been of SMEs and entrepreneurs, two of the most important segments of the Catalan economy. Moreover, this activity of financing has contributed to creating and/or maintaining 28.572 jobs.
In relation with the first semester of 2017, more companies and entrepreneurs (+14%) have been found, although the total amount of the operations has been inferior (-28%) due to the reflation of the credit on the part of the commercial banking.
Regarding the territorial distribution, Barcelona and their influence area concentrate 68% of the formalized operations. The following demarcations in terms of operations are the Central Catalonia (14%), Lleida-Pirineu (8%), Tarragona-Terres de l’Ebre (7%), Girona (2%) and other regions (2%).
In the activity of loans, during the six first months of the year, the ICF has activated together with the Agència de l’Habitatge de Catalunya (AHC) two lines of funding destined to social rent. On the one hand, the line of loans for the acquisition of housings, endowed with €110 M, allows to town councils, entities without profit motive and entities of the third sector to buy housings to be destined to social rent. This line complements the one that the ICF and the AHC activated in April for the construction of housing for rent social endowed with €140 M. These two lines will allow increasing the park for social rent of Catalonia in 2,800 flats.
Moreover, the Catalan public financial entity has continued promoting the innovation, internationalization and growth of key sectors of the Catalan economy. Between the ranges of financial products that the ICF puts at the disposal of the companies, it is remarkable the line of loans ICF Eurocrèdit, co-financed with fund FEDER, to promote the innovation of the Catalan SMEs small and medium enterprises. From January to June, ICF formalized 44 operations for €16.3 M.
Activity in venture capital and participative loans
On venture capital activity, the ICF continues committing itself to venture capital funds and innovative companies in its different phases: from companies in initial phases of creation until first stages of expansion and companies in growth.
Through the entity funds of venture capital, the ICF has invested in three companies for a total amount of €3.1 M million euros. In particular, the fund Capital Expansió has invested €2.4 M in the company Cricursa and, the Capital MAB fund €0.5 M in the start-up Science Bits and €0.2 M in VozTelecom.
Moreover, through the line of co-investment with private investors for companies of new creation (IFEM), the ICF has funded, until June, 8 start-ups for €1.3 M through participative loans.
Indicators and results
The ICF has closed the first semester of 2018 with net results of €4.3 M Regarding the rest of indicators, the entity has improved the percentage of the main indicators recording a coefficient of solvency of 40%, a default ratio of 9.4% and a coverage ratio of 124.4%.
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