Iberdrola began operations yesterday in the maritime wind farm Wikinger in the waters of the Baltic in Germany, which supposes the first maritime wind power project built by the group on its own, with an investment rising to 1.4 billion euros. With an output of 350MW, this wind farm represents the first phase in a larger wind power complex, of 836 MW and with a joint investment of 2.5 billion euros.
On Friday Grifols presented the results of its AMBAR (Alzheimer Management by Albumin Replacement) (phase IIb/III) study in Barcelona. AMBAR is an innovative possible treatment based on the therapeutic properties of plasma which has shown, statistically significantly, its effectiveness in slowing the progression Alzheimer in moderately affected patients.
Mari Pinardo | The financial and stock market situation of the banks has returned to the front page after the Supreme Court decided, re-decided and then postponed its sentence on who ought to pay the stamp duty on mortgages. The decision has caused our banks to lose 9.066 billion euros in stock market capitalisation in a week.
Bankinter has been the first Spanish bank to publish its results. The bank´s shares have risen a modest 0.11% despite the good evolution of its business in the first nine months of the year. In this period profits increased by 7%, its ROE increased to 13.0 and its non- performing assets improved to 3.2%.
Even though Iberdrola reported net profits of €2.09 Bn in the first nine months of 2018, which means 13.5% less than in the same period of 2017, the group’s net ordinary profits, excluding extraordinary incomes, represented 38% more up to €2.05 Bn. The company also explained its hydroelectric and nuclear assets are not completely amortised.
Of the total of this initial loan, 3 billion euros will remain in the company, 2.2 billion will be repaid in the short term through asset disinvestment like the sale of Hispasat and 29.9% of Cellnex (already completed in June), while another tranche of 4.75 billion will be financed with bonds.
According to a report by the Study Services of BME on the ownership of shares, foreign investor participation on Spain’s stock market reached 46% at the close of 2017, the highest level in the historical series, with an increase of 3% over the course of the year, 9% in the decade, and 16% since 1992.
According to data provided to the regulator (CNMV) by the company, Repsol´s oil production amounted 691,000 barrels per day in the third quarter of the year, a reduction of 4.3% compared to the previous quarter and practically in line with the 693,000 barrels per day of the same quarter last year.
For the first time in its history AENA has published its strategic plan and set out its forecasts for its results for the next two years. In the plan, three pillars mark the direction of the group in this period: commercial income, construction and foreign growth.
Acerinox recently celebrated its Capital Markets Day, in which it confirmed its strategy based geographical diversification of its plants (distributed over 4 continents), a policy of differential investment, the control of costs and strengthening its balance sheet, with a special stress on the generation of cash. Its exposure to the US, where the fundamentals remain solid, amounts to around 45% of its sales.