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The Corner

The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

Companies 20th February 2026

Talgo negotiates financial terms for delivery and maintenance of 20 new high-speed trains for Saudi Arabia with Alstom

Link Securities | The train manufacturer, owned by SEPI and the Basque Government, must agree on the financial terms for delivery and maintenance with French powerhouse Alstom, after Saudi Arabia Railways exercised its option on 20 new trains identical to the original 2012 order, valued at €1.332 billion, which are an adaptation of the 112 series (Pato) that Talgo manufactured for Renfe with Bombardier technology, in the new AVE trains…

Companies 20th February 2026

EIB to provide consulting services to CIE Automotive to promote climate action and sustainability in corporate sector

Alphavalue | The company received advice from the European Investment Bank (EIB) to strengthen its decarbonisation plan, with the aim of achieving climate neutrality by 2050. According to a statement from the EIB, the European Union’s financial arm will provide consulting services to the company under the IEB Advisory, a support programme funded by the InvestEU Advisory Hub to promote climate action and sustainability in the corporate sector. CIE Automotive…

Companies 20th February 2026

Acciona Energía and Solaria among companies most affected by Meloni’s plan to lower electricity prices

Bankinter | Giorgia Meloni is considering a plan to lower electricity prices that could have a negative impact on the sector. The plan being considered by Italian Prime Minister Giorgia Meloni consists of intervening in the functioning of the electricity market to eliminate the impact of CO2 costs from bills. The marginal cost of generation from a combined cycle gas plant is what sets the price of electricity on many…

In Spain 20th February 2026

Spain receives 6.7 million international passengers in January, representing annual growth of 5.2%

Alphavalue / Divacons | Spain received a total of 6.7 million international passengers in January, representing an annual growth of 5.2%, according to data from Turespaña. The report highlights that 54.5% of travellers opted for low-cost airlines, an increase of 3.8%, while the remaining 45.5% used traditional airlines, a segment that recorded a higher increase of 6.9%. The European market accounted for the majority of arrivals, while Asia (up 20%)…

Companies 20th February 2026

Inditex to pay €1,500 bonus to nearly 30,000 store employees in Spain

Link Securities | Inditex (ITX) has renewed the extraordinary incentive for its store employees in Spain and will pay a bonus of €1,500 to nearly 30,000 workers in their February payroll, according to Expansión newspaper. This payment is linked to the commercial performance targets of each store. In ITX’s 2025 financial year, which ended on 31 January, more than 99% of the group’s stores in Spain achieved an incentive equal…

Companies 20th February 2026

Highway 407-ETR, 48% owned by Ferrovial, posts €502 million profit, up 17%

Link Securities | The 407-ETR motorway (Canada), one of the world’s largest concession assets and 48% owned by Ferrovial (FER), posted a profit of CA$810 million (around €502 million), representing year-on-year growth of 17%, according to Expansión. The increase in profit is mainly due to a 5.7% rise in traffic, which is now 3.5% higher than pre-pandemic levels, with revenue per trip up 7% due to higher tolls.

Spanish economy 20th February 2026

Spanish exports (up 0.7% compared to EU’s 2.4%) lose ground in 2025

Throughout 2025, Spain recorded a trade deficit of €57.1 billion, a figure 47.1% higher than that of 2024. In 2025, imports increased by 4.6% compared to 2024, reaching €444.2 billion, while exports rose by 0.7% to €387.1 billion. By contrast, EU exports grew by 2.4%, with Italy up 3.3%, France at 2.3%, and Germany at 0.9%. Outside the bloc, the UK saw growth of 3.2%, Japan 3.1%, and China 6.1%….

Companies 19th February 2026

Airbus earns €2.58 billion in 2025 but lowers production acceleration target due to supply issues

Bankinter | 2025 good cash generation, but supply chain issues persist. Production acceleration target lowered. Key figures from Q4 2025 results versus the company’s own consensus estimate: Sales €25.984 billion (up 5.1% year-on-year) versus €26.513 billion estimated; Reported EBIT €2.717 billion (up 3.9% year-on-year versus €2.800 billion estimated) and net profit €2.580 billion (up 13.5%) versus €2.361 billion estimated. In Commercial Aircraft (74% of reported EBIT in 2025), deliveries totalled…

Companies 19th February 2026

Talgo renews €150 million promissory note programme on MARF for 2026

Alphavalue/Divacons | The railway company has agreed to renew its promissory note issuance programme on the Alternative Fixed Income Market (MARF) for the 2026 financial year. According to information submitted to the Spanish National Securities Market Commission (CNMV), the railway company maintains a maximum outstanding balance of €150 million for this programme.

Companies 19th February 2026

Estimated €9.991 billion capex proposed by Aena for 2027-31 could jeopardise dividend

Intermoney | Aena (Hold, PO €24) yesterday presented its proposal for DORA III to the markets, the document that will govern investments in airports in Spain in 2027-31, as well as the remuneration that Aena will receive for them. The operator estimates the planned regulated capex at €9.991 billion, concentrated in Barajas and El Prat, among other assets. To finance this effort, Aena is asking for its revenue per passenger…

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