Companies

Companies 14th May 2012

Santander details provisions in bid to reassure shareholders over €0.6 dividend

MADRID | Banco Santander on Monday announced that the banking group in Spain, including Banesto, will require €2.7 billion before taxes to comply with the new legislation passed last May 11 on real estate asset provisions. These charges are in addition to the reserves already made compulsory by a decree-law in February, of which €2.3 billion before taxes are still pending, as stated in a filing sent to the Spanish regulator…

Companies 11th May 2012

FCC holds revenue in spite of demand contraction in Spain

MADRID | The Spanish infrastructure and services company FCC reported this week it had obtained €2.4 billion in revenues in the first quarter of 2012, on par with the same period last year, with international revenues increasing by 15.6%. FCC obtained a net attributable profit of €16.6 million in the first quarter, suffering a decline of €23.9 million year-on-year, reflecting the impact of the company’s most cyclical activities. Earnings before interest,…

Companies 11th May 2012

ACS’ Edmonton highway construction project gets financial go ahead

MADRID | Spain’s ACS Group confirmed the financing for the construction of the Edmonton highway in Alberta, Canada, was in after the success of an initial bond issuance that obtained 500 million of Canadian dollars or €380 million. It is a 34-year duration contract valued at €1.4 billion. The financial City of Madrid welcomed the news as a proof that capital is still available for attractive projects. Foreign deals will…

Companies 10th May 2012

Repsol shrugs off YPF episode with 12.4pc increase in net income in Q1’12

MADRID | Repsol released Thursday the company’s results in the first quarter of the year excluding YPF, posting net income of €643 million, that is, 12.4% higher than the €572 million reported in the year-earlier period. Including YPF, quarterly net profit rose to €792 million, an improvement of 3.5% from €765 million year on year. The improved results are mainly due to the improvement of Repsol’s crude oil and gas realisation…

Companies 9th May 2012

Ferrovial will set up its Intelligent City research centre in Santander

MADRID | Ferrovial and the local authorities of the Spanish city of Santander reached an agreement to create a research centre for Intelligent Cities, the company said on Wednesday. The Centre’s researchers may also work on projects implemented under the cooperation agreement between Ferrovial and Massachusetts Institute of Technology (MIT). This new public-private initiative in the area of research and urban development will adopt an open innovation approach which enables it to join projects…

Companies 8th May 2012

Spain’s construction company ACS records €207 million profit in 1Q 2012

MADRID | Grupo ACS said Tuesday that the company recorded a net profit in the first quarter of 2012 of €207 million. The Spanish firm published its consolidated results today, showing that net sales of ACS in the first quarter of 2012 totaled €9,035 million, 144.8% more than last year. Growth in comparable terms, also considering the sales of Hochtief in the first quarter of 2011, accounted for a 4.9%. ACS…

Companies 8th May 2012

FCC-led joint venture to be awarded €498-million contract in Los Angeles

MADRID | The joint venture team headed by FCC Construction, Shimmick Construction Company and Impregilo won the bid for the Gerald Desmond Bridge Replacement Project design-build contract, Port of Long Beach and Caltrans officials announced. Major participants in the proposal included Arup North America and Biggs Cardosa Associates. A decision by the Port’s Board of Harbor Commissioners on the actual award of the contract is expected in late June, with construction kickoff…

Companies 7th May 2012

Disney goes more Spanish via Repsol

MADRID | Repsol reached an agreement with Disney Spain which will see the entertainment multinational sell its products in the Spanish oil company’s shops through its network of service stations. Following an initial test in 62 stores, Repsol and Disney decided to extend their partnership to a further 770 shops. A Disney Area has been created in shops, which is a specific area for products with pictures of Disney characters and…

Companies 4th May 2012

Amazon sets first logistics centre in Spain

MADRID | Fortune 500 company Amazon announced Friday plans to open its first logistics centre in Spain, seven months after the launch of Amazon.es, the Spanish version of the popular online store. The centre will be located in San Fernando de Henares, in Madrid. This is the latest opening within the existing European network of logistics sites of Amazon, which will become operational within a few months. “We are very pleased with the positive response from customers, as well as their interest in our Premium Amazon offer,” said Allan Lyall, deputy president of operations in Europe. Lyall hinted at…

Companies 1st May 2012

Inditex’ Uterqüe goes online in Belgium, the Netherlands and Austria

The Spanish Inditex Group reported that its newest retailer launched uterque.com, an online store to shoppers in Belgium, the Netherlands and Austria. These three markets add to six more online operations active in European countries. The new online shops went live in April and, as is customary, they offer the same range of merchandise as that found in high street stores, along with the same policy on returns and exchanges….

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