CriteriaCaixa increases its profits by 30% in 2024, to €1,061 million.

BarcelonaCriteriaCaixa, the investment holding company of the La Caixa Foundation, closed 2024 with a net profit of €1.061 billion, 30% more than the previous year, the company chaired by Isidre Fainé reported this Friday. The holding company's board of directors approved the 2024 financial statements, in which it distributed a historic dividend of €430 million to its sole shareholder, the La Caixa Foundation.

CriteriaCaixa is the most important holding company in Spain, with three pillars: the strategic portfolio, the diversification portfolio, and the real estate portfolio. In December 2024, the value of this holding company's assets amounted to €30.363 billion, 14.5% more than the previous year, driven both by net investments of €1.78 billion and the revaluation of existing investments (€1.051 billion). Net asset value reached €25.075 billion at year-end, a 13.5% increase over the previous year.

The holding company received €1.878 billion in dividends from its holdings, a 69% increase over the previous year. Strategic holdings include a 31.22% stake in CaixaBank, a 26.71% stake in Naturgy, and a 9.99% stake in Telefónica. In fact, Criteria allocated €1.681 billion to increase its stake in the operator. to become the second largest shareholder, behind the State.

Criteria invested €1.659 billion in its diversification portfolio, which enabled the entry of the construction company ACS, chaired by Florentino Pérez (which holds a 9.36% stake after investing €985 million), and €42.05 billion. The diversification portfolio was valued at €5.383 billion at year-end, after a €218 million revaluation.

Regarding its real estate portfolio, Criteria has launched a restructuring process by divesting dispersed and unprofitable assets to focus on assets with more recurring results, such as Colonial, where it has increased its stake to 17.32%. The real estate portfolio was worth €2.086 billion at year-end. In addition, Criteria is promoting a private equity portfolio, valued at €1.035 billion. During the year, as part of the plan to invest in 100 small and medium-sized enterprises, €111 million of a €520 million investment commitment was disbursed.

Strategic Plan

The holding company has a strategic plan aiming to reach 2030 with gross assets of €40 billion and become one of the leading investment holding companies in Europe.

CriteriaCaixa Chairman Isidre Fainé highlighted that the holding company's strong results have allowed the La Caixa Foundation to have the largest budget in its history, at €655 million. "These results reflect Criteria's financial strength, allowing it to continue the group's industrial trajectory and continue contributing to social progress," Fainé said in a statement. CEO, Ángel Simón, has highlighted that Criteria is the State's leading investment group.