The list of the main companies on Ibiza and Formentera in 2019 is very different to that of 2020. The pandemic disrupted the entire economy two years ago and caused unprecedented havoc in the income statements for many of the businesses of Ibiza and Formentera, especially in the tourism sector, which from occupying the top four places in the ranking in the year prior to the health crisis, sank in the list for 2020, which is the last for which data is available.
Of the 1,000 most outstanding Balearic companies in 2020, 138 are based on Ibiza and 8 on Formentera, while the majority, 789, are from Mallorca and only 65, from Menorca. The Ibizan companies had a turnover of 884.7 million euros, 34% less than in 2019 (-455.8 million euros). Those of Formentera, 33.4 million euros, 20% below the precovid year (-8.3 million euros). In total, the sales of these Pitiusas companies that make up the Top 1,000 of the Balearic Islands fell by 464 million euros, according to the Informa database prepared from the 2020 accounts deposited in the Commercial Registry before May 2022.
In 2019, the Pitiusas list was headed by Fiesta Hoteles and Resorts S.L., Grupo de Empresas Alonso Marí S.A., Distribución de Bebidas Miró, Universo Pachá and Carburantes Ibiza S. L. From that Top 5 only Carburantes Ibiza remains in 2020, which moved to third place, while the rest have nothing to do with the tourism or leisure sector: leading that ranking is the construction company Hermanos Parrot S.A. with sales of 48.3 million euros, 12 million more than a year earlier (34%), and results of two million euros, 87% more in year-on-year terms.
In the 2020 list there are only four Pitiusas companies among the 100 best in the Balearic Islands, two less than in the previous year. Hermanos Parrot was ranked 117th in the Autonomous Community in 2019: in 2020, 50th. Another fact to take into account is that, in 2019, the first Ibizan company, Fiesta Hotels, was ranked 25th. But the successive confinements and measures adopted by the Government since March 2020 to stop the spread of the coronavirus hit the tourism industry hard. Fiesta Hotels is precisely a clear example of what happened: from almost 196 million euros invoiced in 2019 it went to 18 million in the first year of the pandemic, a drop in sales of 91%. Its income statement blew up: profits of €12.6 million in 2019 turned into losses of €38.4 million a year later. From green to red: the year-on-year variation was -405%.
The rest of that 2019 Top 5 fared no better: sales of Grupo de Empresas Alonso Marí (now in 27th place in Pitiusa and 330th in the Balearic Islands, when a year earlier it was in 65th place in this Comunitat) fell 88% in 2020; those of Miró fell 59%; those of Universo Pachá, 91%, and even those of Carburantes Ibiza, 39%.
195 million less in the Top 3
The damage that covid produced in our economy is reflected in the sales figures of the top three companies: those in the 2019 ranking invoiced between 47.5 million (Miró) and 195.8 million (Fiesta Hotels); those in 2020, between 27.1 million euros (Carburantes Ibiza) and 48.3 million (Hermanos Parrot): the difference is 195 million euros less.
‘Ranking’ by results
The list varies quite a lot if we focus on the income statement, which would be headed on Ibiza and Formentera by the real estate development company Mar y Golf Ibiza S.L. with 3.28 million euros in profits, three million more than a year earlier ( 1,103%), followed by Herbusa (2.7 million euros, 66%) and Hermanos Parrot. If we turn it around and zoom in on the losses, the list is headed by the companies Fiesta Hotels (-38.4 million euros), followed by Universo Pachá (-37.1 million euros), the hotel company Calida Ibiza S.A. (-11.3 million euros), Palladium Gestión S.L. (-11.3 million euros), Grupo de Empresas Alonso Marí (-9 million euros), Hotel Pacha (-6.7 million) and Hoteles Trinidad (-6.5 million).
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