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Naturgy launches strategic plan

Naturgy earnings up 6.4% to €2.023 billion in 2025

Naturgy presented its 2025 fiscal year results yesterday. In comparing these figures to the previous year, we highlight the following aspects: Net Sales: Increased by 1.0% year-on-year (year-on-year) in 2025, reaching €19,455 million. EBITDA: Decreased by 0.6% year-on-year to €5,334 million. In terms of sales, the EBITDA margin stood at 27.4% at the end of 2025, compared to 27.8% the previous year. EBIT: Net operating profit rose to €3,580 million…


santander ana botin

Banco Santander Investor Day: focus to be on improving profitability with post-AT-1 RoTE target >20%

Renta 4 | After solid results in 2025 and the achievement of its main objectives, attention now turns to the upcoming Investor Day in London on 25 February, where the bank will present its new 2026-28 Strategic Plan. We believe that the new Strategic Plan will be continuous with the previous one, focusing on improving profitability as announced in the results presentation, with a post-AT1 RoTE target for 2028 >20%…


enagas

Enagás achieves 2025 targets: €339 million profit from capital gains on Soto la Marina sale, Sercomgas, Axent revaluation and update of GSP value

Renta 4 | The company’s revenues continue to be affected by the recording of the effects of the work carried out to seal the Castor wells (impact of €6 million on EBITDA). Regulated revenues are down due to the regulatory framework, in line with our forecast. EBITDA, reflecting a result from investees of €155 million, slightly higher than our forecast, and recurring operating expenses in line with 2024, slightly improves…


sacyr edificio logo nuevo

Sacyr provisionally wins contract to build new Peel Health Campus hospital in Mandurah, Western Australia

Alphavalue / Divacons | A consortium led by Sacyr and local construction company Built has been selected as the preferred bidder for the construction of the new Peel Health Campus hospital in Mandurah, Western Australia. Although the initial budget was AUD 152 million, internal documents revealed by ABC News indicate that the cost has skyrocketed to AUD 558 million (approximately €334 million), more than triple the original estimate. The Sacyr…


Repsol

Repsol secures first new exploration licenses in Libya in 17 years

Repsol, in a consortium with the Hungarian firm Mol and the Turkish company TPOC, has been awarded blocks in the first public bidding round for oil and gas exploration held by Libya’s National Oil Corporation (NOC) in two decades. Alongside the Spanish, Hungarian, and Turkish firms, other winners in this auction—which aims to revitalize the African nation’s oil sector—include the Eni-Qatar Energy consortium, as well as the American giant Chevron…


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Telefónica sells Chilean subsidiary for €1.03 billion

Four days after finalizing its definitive exit from Colombia for nearly 200 million euros, Telefónica has sold 100% of Telefónica Chile’s share capital to the investment firm NJJ—the investment vehicle of entrepreneur Xavier Niel—and the telecommunications operator Millicom. The transaction is valued at $1.215 billion (€1.03 billion), with an additional payment of $150 million (€126 million at the current exchange rate) contingent upon specific events within the Chilean telecommunications sector….


Seguro Portugal

Socialist António José Seguro wins Portugal’s Presidential Election

Socialist former minister António José Seguro has secured a clear victory in the second round of Portugal’s presidential elections. With 99.05% of the votes counted, Seguro achieved 66.79%, compared to the 33.21% obtained by the far-right candidate André Ventura of the Chega party. With this triumph, a leftist figure returns to the Palácio de Belém—the seat of the Portuguese Presidency—twenty years after Jorge Sampaio left office in 2006. Sampaio was…


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Telefónica reduces debt by €1.6 Billion following sale of Colombian subsidiary

Telefónica has finalized the sale of its Colombian subsidiary to Millicom for $214 million (approximately €182 million at current exchange rates). Additionally, the operation will result in a reduction of its net financial debt by approximately €1.55 billion, as reported to the National Securities Market Commission (CNMV) on Thursday night. Having obtained the relevant regulatory approvals and met the established conditions, the company has transferred its entire 67.5% stake in…


BBVA Holvi

BBVA reports 4Q25 attributable profit of €2,533m, slight miss versus company consensus

Jefferies | BBVA reported 4Q25 attributable profit of €2,533m, which was a slight miss versus company consensus of €2,554m. PBT was a slight miss as well, with PPP a 2% beat. Group top line was a 2% beat, but partly offset by costs 3% higher than consensus. Impairments were a 9% miss. By geography, beats in Spain and Mexico, offset by Turkey missing. Final dividend of 60c per share announced….


Santander Junta 2025

Santander acquires Webster, becoming 10th Largest U.S. Bank after posting €14.1 billion profit in 2025

“If you are not in the U.S., you cannot aspire to be a global bank,” stated Ana Botín, Executive Chair of Banco Santander, explaining the acquisition of Webster for $12.2 billion—an all-stock transaction. She described the move as a “growth operation” that will “allow us to increase earnings by 7% and positions us to be one of the most competitive banks in the U.S., with the expectation of reaching an…