Reported by the Editorial Team
Duro Felguera announced on Monday the court approval of its restructuring plan, as well as the acceptance of the plan by its majority shareholders and creditors, as reported to the Spanish National Securities Market Commission (CNMV).
In a statement, the Asturian company indicated that both the company and its subsidiaries (Duro Felguera Calderería Pesada, DF Mompresa, etc.), as well as Grupo Promotor de Desarrollo e Infraestructura and Mota-Engil México, in their capacity as majority shareholders, and the creditors who have acceded to the plan, have agreed to seek judicial approval of this joint restructuring plan.
Similarly, the Commercial Division of Gijón Magistrates’ Court No. 3 has dismissed in their entirety the incidental claims opposing the judicial approval of the restructuring plan and ruled that the effects of the approved plan shall extend to the affected claims, including dissenting creditors and classes, in accordance with the terms provided for by law and in the restructuring plan documentation.
‘The company will inform the market of any developments regarding the implementation of the restructuring through the channels established for this purpose,’ the company stated.
The plan was approved at an Extraordinary General Meeting at the end of last November, by a majority of over 99.99%. ‘It is true: the Plan imposes great sacrifices on all those affected, starting with the majority shareholders who, in two years, have seen their investment of €90 million wiped out. Minority shareholders are also paying a significant price, as their stakes will be diluted in the new Duro Felguera. And the same applies to creditors, both current and contingent,’ explained the company’s vice-chairman, Jaime Isita.
The Asturian firm closed the 2025 financial year with accumulated net losses of €89.27 million, 1.17% higher than the €88.24 million recorded in the previous year. This result came against a backdrop of a significant drop in sales, which stood at €161.06 million, 43.69% lower than the €286.01 million recorded in 2024.
Despite the contraction in turnover, the company managed to reduce its negative EBITDA to €62.06 million, an improvement on the negative €88.12 million recorded in the previous financial year, according to the company’s results report. In addition, the company set aside provisions of €16.3 million for trade receivables and €20.2 million for guarantees called in relation to the Iernut project (Romania) and €7.7 million for the Aya Gold project (Morocco), as well as increasing the provision for Jebel Ali (Dubai) by €10 million.
