Caldea Hits Record €25.3M Revenue and €3.7M Profit in 2025

Caldea closed fiscal year 2025 with record revenues of 25.3 million euros and a net profit of 3.7 million euros, more than double the previous year's figure. The results, presented at the recent ordinary general shareholders' meeting of Semtee, the mixed-economy company behind the Escaldes-Engordany thermal leisure centre, also included a historic cash flow of 7.5 million euros.

Strong performance across business areas drove the success. The spa attracted over 420,000 visitors, generating 17.4 million euros, while the club contributed 4.4 million euros. Wellness services, treatments, dining, and retail saw an 11% increase.

Shareholders approved a near-1.8 million euro dividend payout—37 euros per share across 48,924 shares—up from 16.5 euros per share in 2025 and 15 euros in 2024. Escaldes-Engordany commune, holding 25% of shares through 12,231 holdings, will receive 452,547 euros. The decision followed a statutory change capping payouts at 50% of distributable profits, subject to three financial criteria: positive cash flow, a net debt-to-EBITDA ratio of 3 or lower, and a debt service coverage ratio above 1.3. Rosa Gili, Escaldes-Engordany's mayor and Semtee board chair, described the approach as "thoughtful, reasonable, and responsible," balancing shareholder returns with financial stability.

For 2026, management projects revenues nearing 27 million euros, though net profit may dip to around 2.7 million due to hotel launch costs. The highlight is the November opening of a 39-room hotel in the renovated tower, part of the 32-million-euro Caldea Resort project spanning 2024-2026. Works include a full exterior lagoon overhaul, new aquatic bar, main lagoon access upgrades, technical facility modernizations, and tower facade improvements. Director general Miguel Pedregal called it a "complex challenge" requiring intensive marketing, staff training, and equipment purchases, but confirmed timelines are on track via weekly site meetings.

The spa, closed for maintenance and cleaning over the past two months, reopens on Saturday, July 4, ahead of peak summer season. Pedregal expressed optimism for a "historic" summer, with Gili hailing the results as welcome news for the parish's key attraction.