Joaquim Agut, president of the multinational, reiterated his intention for 2025, although he made it clear that it is not essential for the company.
Spain.- The president of Cirsa, Joaquim Agut, confirmed that the multinational in the gaming and leisure sector based in Spain is “prepared” to go public in early 2025. However, he warned that they have “no need to go public if things are not right”.
During his speech at the first Sant Fruitós de Bages Business Forum 2024, held on Tuesday at the Sant Benet monastery under the title "In search of new leadership", Agut assured that Cirsa is "prepared" to take this step. However, he also warned that they will not force themselves to go public if the macroeconomic and geopolitical context is not favorable.
In a conversation with Martí Saballs, director of Economic Information at Prensa Ibérica, Agut explained that the IPO will be carried out through the issuance of bonds, highlighting that Cirsa is "highly accredited" to do so. He noted that the company has improved its results every quarter for the last 18 years, and recalled that when he arrived, the company's EBITDA was €71m, while last year they closed with €630m, which represents a ninefold increase.
See also: Cirsa increased its operating profit by 8.3% during 2Q 2024, with more than €171m
Despite the excellent results, Agut expressed his concern about geopolitical and macroeconomic risks. He assured that, although consumption is not a concern, the risks arising from the global geopolitical situation are.
Finally, Agut recalled that his initial goal upon arriving at Cirsa was "to turn the company around and sell it", which he eventually achieved in 2018 when he sold it to the Blackstone fund.
