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● I. ALBA GRUPO MARCH ● ALBA : PORTFOLIO AND RESULTS OF THE FIRST HALF OF 2021 ● The net consolidated result amounted to € 121.9 million in the first half of 2021 , compared to losses of € 24 million in the same period of the previous year due to the lower activity in most of our investee companies as a result of the COVID - 19 crisis . This improvement is due to the greater income obtained by some of our subsidiaries and the positive performance in the fair value of other financial investments in companies registered at fair value . Net Asset Value ( NAV ) increased by 9.3 % in the first half of the year to € 4,702 million at 30 June 2021 , equivalent to € 80.74 per share . Alba's share price ended the first half of the year at € 46.00 per share . MOST SIGNIFICANT TRANSACTIONS The investments made by Alba in the first half of the year were as follows : Acquisition of a 3.1 % stake in Befesa for € 70 million , in the context of the capital increase carried out by Befesa for the acquisition of American Zinc Recycling in the United States . With this investment , Alba increased its stake in Befesa to 5.1 % . During the first half of the year , Alba invested € 197 million and sold assets for a total amount of € 115 million . However , the significant volume of distributions received from investees , particularly Verisure , increased Alba's net cash position¹ to € 596 million at 30 June 2021 . In June , Alba distributed a final dividend of € 0.50 gross per share to its shareholders , representing a disbursement of € 29 million . Financial investments in various listed companies for a total amount of € 102 million . On the other hand , among the divestments made , the following are highlighted : Purchase of an additional 0.93 % interest in Viscofan for € 25 million . With this purchase , Alba increased its stake in Viscofan to 13.97 % . The sale , through Deyá Capital , of the entire stake ( 16.8 % ) in Alvinesa's share capital for € 48 million . As part of this investment , Alba has obtained an IRR of 44.9 % per annum over the 4.1 years it has been a shareholder in it . Sale of a 1.56 % stake in Acerinox for € 49 million , reducing its stake to 17.79 % at the end of the first half of the year . Sale of a real estate property in Madrid for € 9 million . Alba has obtained an IRR of 16.3 % per annum for 21 years . Sale of a 0.54 % stake in Indra for € 8 million . With this sale , Alba reduced its stake in Indra to 9.98 % . ¹ As at 30 June 2021 , Satlink , Nuadi and Preving are consolidated by the full consolidation method . All comments made in this document concerning Alba's cash position refer exclusively to that of Alba , excluding the consolidated net debt of Satlink , Nuadi and Preving .