The Cuatrecasas law firm has managed to raise its profit before taxes by 18.5%, to 32 million euros in its last fiscal year. As reflected in their 2019 accounts, recently deposited in the Mercantile Registry, this increase in profit was driven by the growth in the turnover to 253 million euros, which is 11% more than the 227 million registered in 2018.
The company highlights in its management report attached to the accounts that the good performance for the year was reflected in an increase in the number of clients and sales, registering growth in all business areas. The Spanish market continues to be the largest source of income with 191.2 million (182.7 million in 2018), but the international business is growing at a faster pace: outside of Spain it registered a turnover of 61.7 million compared to 44 , 5 of 2018 (+ 38.6%).
However, beyond the economic results, it stands out that Cuatrecasas has published the remuneration for its board of directors made up of 12 members (among them, Soraya Sáenz de Santamaría, former vice president of the Government chaired by Mariano Rajoy) and that they received 11.5 million euros, as EL PAÍS advanced today, 8.5% more than in 2018. This represents an average of around 962,000 euros for each director, although it must be taken into account that the remuneration for each director is not identical and the the company does not break them down, as it is not an obligation.
At the end of the fiscal year, Cuatrecasas had 1,364 employees (774 women and 590 men) although it does not detail the wages received by professional category and sex.
In the subsequent events section, the law firm points out that throughout 2019 it acquired the 50% that it did not yet have from the Colombian firm Posse Herrera Ruiz + Cuatrecasas, passing to control 100% of its shareholders. It also specifies that before the outbreak of the Covid-19 pandemic, the company is “perfectly prepared to face the challenge of working remotely” and that at a financial level “it enjoys an extraordinarily healthy position, thanks to the financing of the partners themselves, which makes it possible not to have the credit lines arranged with financial entities “.