CORPORATE STRUCTURE
Vinte is composed of six subsidiaries: Promotora, Urbanizaciones, Vinte Administración, EIC, Conectha and Emobel, in which it currently holds a stake of 99.99%. A general description of the main activities of Vinte’s subsidiaries is provided below:
Purchases land, develops and commercializes it.
Generates 76% of Vinte’s third party sales and 87% of Net Earnings.
91% of Vinte’s total Subsidiary Investments.
85% of Vinte’s Assets.
Subscribes part of debt.
Architectural and urban design for the Group.
Purchases land, develops and commercializes it.
5% of Vinte’s total Subsidiary investments.
Hiring services.
Salary and commissions for sales personnel.
Rest of Vinte’s Assets and Equity divided in other 4 subsidiaries.
Subcontracted by Promotora for project construction.
Administrative and construction personnel payroll.
14% of Net Earnings.
Provides technology services to Promotora and its clients.
Research and Development.
Sells household equipment (floors, closets, furniture, solar panels, etc).
Generates 4% of Vinte’s third party sales.
Vinte’s stake in its subsidiaries and their associates, as well as a detailed description of their activities, are presented in the following table:
Subsidiary | Stake | Business Type |
---|---|---|
Promotora | 99.99% | Land bank acquisition, subcontracting construction services for subsidiaries and third parties, subscribes 100% of the group's total financial debt, development, marketing, and home sales. |
Urbanizaciones | 99.99% | Architectural and urban design, master plans and innovation in housing, land bank acquisition; in the future, with the possibility of development, marketing and home titling, subcontracting construction services for affiliates and third parties. |
Vinte Administración | 99.99% | Administrative services. |
EIC | 99.99% | Construction services. |
Conectha | 99.99% | Research and development, as well as some home products and services. |
Emobel | 99.99% | Marketing of hardware, software, internet, communication services, technology, furniture and appliances. |
Fideicomiso Desarrollo OV1 | 50.00% (joint venture) | Trust Agreement for business activities between Vinte and OHL Desarrollos that will serve as a vehicle for the development of approximately 3,600 homes over five years in the Ciudad Mayakoba project located in Playa del Carmen, Q. Roo. |
- Earnings Release 1Q22