Piqué's company doubled its assets during 2019

The athlete and businessman Gerard PiquéCIRO DE LUCA / Reuters

Kerad Holding, the company owned by footballer and businessman Gerard Piqué, doubled its net worth last year when it went from 19.16 million euros to 39.8 million euros at the end of the year, as shown in the annual accounts of the company deposited in the Mercantile Registry.

The company, managed by the popular athlete and his father, Joan Piqué, is the parent through which it manages the portfolio of companies and business activities in which the athlete participates.

In the report of its annual accounts, it does not detail the reason for this capital increase, but in liabilities it stands out an increase in share capital and, above all, in the share premium or for having participated in a capital increase or share issue.

During the past year, Piqué and his father formed the Kosmos Global Media company, dedicated to the production of multimedia and video content.

The company, established in 2009 in Rubí (Barcelona), has as its corporate purpose “the acquisition, holding and administration of all kinds of securities, social shares or any other title or sign representing participatory or credit rights of other companies or businesses under any of the forms known or admitted in law, in order to direct and manage participation ”.

In August of last year, Piqué injected 400,000 euros into the company that, despite recording profits during the past year, accumulated losses from previous years.

With the increase, he raised the capital to two million euros and avoided having negative equity.

The athlete is an active businessman with video game, restaurant and event companies.

In fact, the company owns 100% of Kosmos Global Media;

Kerad USA;

Kerad Games, SL (in liquidation);

Kissmeeyewear (64.18%);

Investments BCN Two & Two (50%);

Kerab EB (50%);

Bas Alimentaria (22%);

and Kosmos Global Tennis.

The athlete also has shares and interests in other companies that he controls through his Sicav.

Kerad Holding is the parent company of the group of companies of the central defender of FC Barcelona, ​​of which there are nine companies, including Kosmos Global Tennis, which organizes the Madrid Open, although some of them are idle.

For this reason, Kerad Holding has registered almost 40 million euros in shares in group companies and associates, an item that practically doubled last year.

In terms of results, the company reported profits of 24,419 euros last year, 91% less than the gains of 277,305 euros achieved during the previous year.

The company paid 735 euros in corporate tax and has accumulated deferred tax assets that allow it to reduce its tax bill in the coming years.

The company records income of 112,085 euros, 57% less than the 259,381 euros invoiced in the previous year.

It only has one employee, who is assigned an expense for wages and salaries of 36,000 euros.

The company has a debt of 21.25 million euros with the banks, most of these commitments are short-term.