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NH Hoteles estimates 2Q23 revenues to exceed €100m, same figure as in 2Q19

Alphavalue / Divacons| The hotel chain held its General Shareholders’ Meeting yesterday. The Executive Vice Chairman and CEO of the group, Ramón Aragonés, told the meeting that the revenue estimate for 2Q23 will exceed the figure for the same quarter of 2019 by more than €100 million. In addition, they expect EBITDA to grow between April and June, driven by good results in key markets, both in the leisure and…

UE gas

European Commission calls for end to emergency energy measures

Banco Sabadell: According to information in the press, the EC in a report sent to the Council and the European Parliament is calling for the withdrawal of emergency interventions in the wholesale market, such as the cap on income in the electricity market (€180/MWh in Europe and €67/MWh in Spain) for infra-marginal technologies (renewable, hydro and nuclear). The EC considers that electricity price peaks are not expected next winter like…


Insolvencies up 31% in Spain in May, 699 companies file

Business insolvencies soared 31% in May compared with the same month last year, after 29% in April, according to data from Informa D&B, which show that last month 699 companies were forced to request the former suspension of payments compared with 532 in May 2022, recording the highest figure so far this year. Between January and May, the number of companies in insolvency proceedings was 2,585, slightly lower than the…


Amper wins largest-ever contract for Dieppe Le Tréport wind farm, turnover to be boosted to €140 million

Link Securities| In a Significant Event sent to the National Securities Market Commission (CNMV) it is reported that Navantia Seanergies has awarded the company the contract for the assembly and construction of jacket components for the Dieppe Le Tréport wind farm. The contract, awarded to the subsidiary Nervión Naval OffShore, is the largest in Amper’s history, and will run from 2023 to 2025. The order book, including this new contract…

BBVA Holvi

BBVA redeems 64.6 M treasury shares as part of buyback programme

Link Securities | BBVA (BBVA) notified the National Securities Market Commission (CNMV) of the partial execution of the capital reduction resolution adopted by the Ordinary General Shareholders’ Meeting held on March 17 2023, through the reduction of BBVA’s share capital by a nominal amount of €31,675,343.91, and the consequent redemption of 64,643,559 treasury shares of €0.49 par value each, held by the company as treasury shares. The treasury shares subject…

red electrica cableado

Spanish electricity demand plummets by 8.7% in May

ASE Group| With an extraordinary drop of 8.7%, the daily average of Spanish electricity demand in May was 562 GWh, practically the same as that recorded in May 2021 (560 GWh) at the height of the pandemic. This decrease was more pronounced in the hours of maximum solar radiation (between 11% and 12%) due to the boom in self-consumption installations in both homes and businesses. The other factor that explains…


New Chair says Cellnex not giving up on growth through acquisitions, but not in short term

Banc Sabadell | In an interview granted by Anne Bouverout (current Chair of Cellnex (CLNX), after the departure of Bertrand Kan as a result of the intervention of TCI) the executive has issued the following messages concerning the Company: ▪ She considers that Cellnex is not vulnerable to a takeover bid and that if there has ever been such a perception it was the result of the uncertainty derived from…

tren alta velocidad

Alstom, Siemens and CAF prepare to bid for Spanish high-speed train extension

Link Securities| Alstom, Siemens and CAF (CAF) are preparing to bid for the extension of the Spanish high-speed train (AVE) network, according to Expansión newspaper. The newspaper points out that on this occasion it will be key to have trains with variable gauge (they will have to be able to run on UIC and Iberian track) to reach, for example, from Madrid to the main destinations in Galicia and Asturias.


Good news for Vidrala: Coca Cola to promote use of glass in the hospitality industry

Renta 4| Coca Cola Europacific Partners has launched an action plan to promote the use of glass in the hotel and catering industry, with the aim of giving priority to this type of packaging over aluminium or plastic cans. The plan aims to introduce glass containers in up to 10,000 establishments that use other types of packaging, in response to the study “Consumer Preferences in Hotel and Catering” carried out…

Iberdrola Guggenheim

Iberdrola reaches co-investment agreement with NBIM Iberian Reinfra for joint renewable assets portfolio in Spain and Portugal

Norbolsa| Iberdrola (IBE) announced a co-investment agreement with NBIM Iberian Reinfra (part of Norges Bank) for the joint development of a portfolio of renewable assets in Spain and Portugal. Iberdrola plans to sell 49% of another 500 MW for €250 million, bringing the joint portfolio of both firms to 1,800 MW, valued at around €1,800 million.