One of Spain's main production houses Grupo Secuoya has netted a profit of €2.5 million on the back of €21 million in 2010.
Founded in 2007, Grupo Secuoya is a young company which is present in the whole value chain of Spain's audiovisual sector employing 450 professionals. Since inception it has been doubling its income and EBITDA thanks to its externalisation contracts and also to the success of its TV productions, especially Pulso TV, which has been a multi-format success.
The group aspires to launch in Spain's Stock Exchange and has been given permission by the Spanish Commission of Incorporations in the Alternative Stocking Market.
The company's objective through this move is to get financing for the extension of its WIKONO division and to access bids to provide services to private broadcasters, as well those in the public sphere and also to start the building of TV City, recently introduced in Madrid.
TV City is designed to be Spain's biggest audiovisual production centre with more than 20.000 square metres used by 10 TV studios and other spaces created 'ex professo' for the production, making and edition of TV programs. The inauguration of the City is planned for Q3 2012.