Companies

Companies 26th April 2012

Santander, BBVA surpass €1 billion profit in Q1 2012: the geographical key

MADRID | Banco Santander registered a net attributable profit of €1.604 billion in the first quarter of 2012, a decline of 24% year on year. Santander, that released Thursday its results for the January-March period of this year, noted that this decline was mainly due to the significant increase in provisions for non-performing loans, which rose by 51% to €3.127 billion. Banco Santander revenues in the first quarter grew by more than…

Companies 24th April 2012

Repsol, Inditex among 64 European stocks recommended by Morgan Stanley

MADRID | Morgan Stanley in Madrid released an investor note on Tuesday with some recommendations, and we spotted a couple of Spanish companies (always on the bright side, we know…) “We propose the following basket of 64 stocks (Nifty Fifty +) with the intent to replicate the behaviour on the original list (Nifty Fifty) for the years 60/70 in the U.S. “The criteria we used for this stock selection exercise are:…

Companies 23rd April 2012

Ferrovial closes successful sale of Edinburgh airport for £807 million

MADRID/LONDON | BAA, the company owned by a Spain’s Ferrovial-led consortium and that manages most airports in the UK, announced Monday the sale of its 100% interest in Edinburgh Airport Limited. The asset will be acquired by Global Infrastructure Partners GIP for £807.2 million, which surpasses in some £200 million estimations made in advance by analysts in the Madrid financial City. The news was favourably received by most experts. In several investor…

Companies 20th April 2012

Ferrovial wins €109-million contract in Madrid-Galicia high-speed railway

MADRID | Ferrovial Agroman, a construction subsidiary of Ferrovial, was awarded a contract to build the Padornelo Tunnel-Lubián section of the Madrid-Galicia high-speed railway line, for €108.8 million. The section of line, which is 7.6 kilometers long and will have a single-track 8.5-meter wide bed, crosses the Requejo and Lubián municipalities, in Zamora province. The project includes the construction of the right gallery of the Pardonelo Tunnel (6,407 meters long) and galleries…

Companies 16th April 2012

Spain’s CAF awarded the Cincinnati train supply contract

MADRID | The US market once again knocked on the doors of the Spanish railway equipment manufacturer CAF. The company, based in Guipuzcoa (Basque Country) will supply trains for the rail project in the city of Cincinnati, in the State of Ohio. In an initial phase, the company will manufacture a small number of vehicles, which it will also keep updated. So far, CAF has been chosen as preferred supplier and will now negotiate…

Companies 12th April 2012

Ferrovial awarded Sheffield €2.4bn infrastructure maintenance contract

LONDON/MADRID | Sheffield City Council in England announced that Ferrovial Services’ subsidiary Amey was the preferred bidder for a contract to maintain the city’s infrastructure in a project worth £2 billion or €2.425 billion in revenues. The contract includes a 5-year programme of upgrade works, followed by maintenance for 25 years. The Ferrovial Services subsidiary will take responsibility for 1,900 km of road, 68,000 street lights, 500 traffic signals, 600 bridges and other structures, 2,400 retaining walls…

Companies 30th March 2012

Santander wins ‘UK Business Bank’ award ahead of Emilio Botín re-election

MADRID, LONDON | Emilio Botin will be re-elected on Saturday as board director and president of the Spanish financial group, currently third in the domestic rank after Caixabank and BBVA. But he got today a special gift via London: Banco Santander was named ‘Business Bank of the Year’ in the UK at the annual Business Moneyfacts Awards for its strategy to become the small and medium-sized companies’ bank of choice. It was the…

Companies 29th March 2012

ACS sends heavyweight to cut Hochtief’s Australian hemorrhage

MADRID | Marcelino Fernández Verdes was appointed Thursday chief operating officer of Hochtief, the German division of the Spanish group ACS. Fernández will sit at the executive committee of Hochtief (Vorstand) with CEO Frank Stieler and CFO Peter Sassenfeld. He will address risk management operations of the entire group Hochtief, but will also face the responsibility of breaking the spiralling downward trend its Australian branch Leighton has fallen into. The move…

Companies 27th March 2012

CaixaBank+Banca Cívica = Spain’s €342-billion leading financial group

Should Banco Santander and BBVA watch out for this one? The absorption of Banca Cívica, approved on Monday by Caixabank’s board, will create the leading bank in the Spanish market, with assets of €342 billion, stock market capitalization in excess of €16 billion, 14 million customers and an average Spanish market share in deposits of 14.0%, in customer loans of 13.4% and in total assets of 10.5%. CaixaBank will become…

Companies 23rd March 2012

Gamesa to set in the UK base for global offshore wind operations

LONDON | The Spanish wind energy firm Gamesa announced Friday it will pursue an agreement with the Port of Leith for the set up of a major offshore manufacturing base in the UK. The project would include blade and nacelles plants, port logistics and operating and maintaining services. The company estimates that the new British manufacturing base could create about 800 new jobs, with an initial investment of about €150 million….

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