Canal Gestión Lanzarote Accumulates 22 Million Losses


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Nueva Canarias has warned of the “chilling” numbers of Canal Gestión Lanzarote , which “accumulates losses year after year” and currently has a negative net worth of “minus 22,164,000 euros”. In addition, it underlines that this economic drain has been increasing, because only last year 2021 it lost 6 million euros.

“With this financial situation, the company that controls the water monopoly is a financial fiction. We are not talking about a one-off financial year, but about accumulated losses year after year to exceed 22 million negative in its net worth," warns Armando Santana, who wonders if "this company is in a position to provide the services that the island demands."

In this regard, he recalls that Lanzarote has gone from seeing “the photos with the Canarian Coalition and Pedro San Ginés saying that the arrival of Canal Gestión was a historic day, to failures in the supply service, exorbitant bills, offices that do not respond, constant quarrels with the administrations, and finally the collapse of the service in many areas of the island”.

"Since San Ginés insisted on bringing this company, everything in Lanzarote has gotten worse ," Santana denounces, stressing that during all this time he has been "very critical of the terrible management that has been carried out."