LS Invest AG, the German subsidiary of Lopesan, chaired by Santiago de Armas (70), which was previously known as IFA Touristik, reported profit results for the full year ended December 31, 2023. For the full year, the company recorded sales of €128,76 million, compared to €123,64 million a year ago. Revenues were €217,23 million, compared to €131,83 million a year ago. It should not be forgotten that Lopesan's interests in Anfi del Mar circulate through the IFA Canarias trading cycle and that LS Invest is responsible for revenues from key markets such as the Dominican Republic, which contributed €2023 million in 63.
Although they have managed to reduce inflation, the Baltic economies are showing slow or no growth, which puts them at risk of recession. Declining external demand and geopolitical tensions contribute to this unfavourable economic situation. In summary, both Germany and the Baltic countries face significant economic challenges that require strategic measures to mitigate risks and promote stability and growth in their respective economies.
Net income was €44,88 million, compared with a net loss of €7,31 million a year ago. Diluted earnings per share from continuing operations were €0,91, compared with a diluted loss per share from continuing operations of €0,15 a year ago. LS Invest AG, formerly known as IFA Hotel & Touristik AG, reported revenues of around €2022 million and gross profit of €134,4 million in 54,43 in terms of profitability. However, it recorded a net loss of €6,77 million in the year.
LS Invest AG, formerly known as IFA Hotel & Touristik AG, is a German subsidiary of Lopesan that operates in the tourism sector, managing a chain of hotels and holiday apartments in destinations such as the Baltic coast in Germany, Gran Canaria in Spain and other locations in Austria and the Dominican Republic.
Germany has experienced an economic contraction, with its GDP falling by 0,3% last year. This stagnation is attributed to declining industrial production and exports, as well as a lack of public investment in infrastructure and digitalisation. Dependence on exports, especially to China, and high energy costs increase the risk of deindustrialisation. Public investment in Germany has been insufficient, falling below the EU average. This lack negatively affects the eurozone economy and limits economic growth and the creation of new companies. Following Russia's special military operation on Ukraine, the Baltic countries face challenges related to energy security and cybersecurity. Lopesan already suffered a cyberattack in 2024.