Companies

Companies 27th October 2025

Following 9M25 results Enagás offers attractive dividend yield of 7% until 2026, less uncertainty about investment in Peru

Bankinter | Results exceed consensus estimates and the management team maintains its guidance for the year. Recurring net banking income falls by 11% in the period, compared to an estimated 13%. The contribution to EBITDA from regulated gas transport activity (74% of the total) fell by 10% as the regulated asset base (RAB) is lower due to no new investments being necessary in the network and also receiving a lower…

Companies 27th October 2025

New Neinor Homes shares to begin trading on Tuesday

Link Securities | In connection with the completion of the private placement of new shares among institutional shareholders carried out in the context of the cash capital increase approved by the Board of Directors of Neinor Homes (HOME) on 23 October 2025, HOME reports that the increase has been closed on the following terms: The increase has been subscribed for the maximum effective amount of €140 million approved by the…

Companies, Relevant News Item 27th October 2025

Digi hires Barclays, Santander and UBS as coordinators for Spanish subsidiary’s stock market listing

Alphavalue/DIVACONS | Romanian telecommunications group Digi has hired Barclays (BARC-GB), Santander (SAN) and UBS (UBS-CH) as coordinators for the stock market listing of its Spanish subsidiary, according to a report in Expansión newspaper on Monday. The operation, which is being advised by Rothschild, is scheduled for 2026, with May as its first window. With its stock market debut, which values the Spanish business at around €2.5 billion, Digi is seeking…

Companies 27th October 2025

Ferrovial acquires Spanish telecommunications and systems company Powernet to consolidate data centre construction business

Link Securities | Ferrovial has acquired the Spanish telecommunications and systems engineering company Powernet, which will enable it to strengthen its data centre design, development, operation and maintenance capabilities within the Construction area, according to the digital portal Bolsamania.com. Powernet is active in the design, installation, maintenance and operation of data centres. In addition, it offers information systems and telecommunications solutions, providing communications, systems and network management services. Ferrovial has…

Companies 24th October 2025

Airbus to join forces with Thales and Leonardo to create new European satellite giant

Link Securities | Airbus, Leonardo (LDO-IT) and Thales (HO-FR) have signed a memorandum of understanding (MoU) to create a space giant that aims to unite and improve their capabilities by combining their activities: manufacturing satellite and space systems, and space services, reports the newspaper Expansión. This agreement excludes space shuttles. In the case of Airbus, rocket activities are housed in a joint subsidiary with the French company Safran (SAF-FR), called…

Companies 24th October 2025

Indra notifies CNMC of takeover of satellite operator Hispasat and its military branch, Hisdesat

Banc Sabadell | Indra (IDR) has notified the National Markets and Competition Commission (CNMC) of its takeover of satellite operator Hispasat and its military branch, Hisdesat, according to press reports. The notification (which took place on 17 October) marks the start of the first phase of the review of the transaction, during which the CNMC has one month to issue its ruling. Approval is expected to be granted in phase…

Companies, Relevant News Item 24th October 2025

Better pricing environment, increased installed capacity and high combined cycle production will maintain Naturgy’s trend

Renta 4 | Naturgy (NTGY) will publish its 9M25 results on Wednesday, 29 October 2025, before the market opens, with a conference call at 11:30 a.m. Target price €26.10 and underweight recommendation. G A good performance is expected for 9M figures, which should continue the trend seen in the first half of the year (9M24 figures pending publication). The improved pricing environment favours the energy management business, with a possible…

Companies 24th October 2025

Fitch affirms Aena’s long- and short-term ratings with stable outlook

Link Securities | Aena (AENA) informed the National Securities Market Commission (CNMV) that Fitch Ratings affirmed AENA S.M.E., S.A.“s long-term issuer default rating and EMTN programme rating at ‘A” and its short-term rating at “F1”. The outlook is “stable”. Fitch explained in its report that the affirmation is based on the solid traffic trend recorded by Aena during 2024 and in the first half of 2025 in its airport network…

Companies 23rd October 2025

CIE Automotive posts €266.2 million profit, new record high for first nine months of a financial year

Link Securities | CIE Automotive (CIE) presented its results for the first nine months of the financial year (9M2025) on Wednesday, from which we highlight the following aspects: CIE achieved a turnover of €2,974.0 million between January and September, representing a 1.3% year-on-year decline (up 2.0% at constant exchange rates versus 1.0%; market). Breaking down turnover by geography, Europe contributed €1,057.7 million (35.6% of the total), followed by North America…

Companies 23rd October 2025

Telefónica, with scope to reduce debt and consolidate Spanish and German markets

Morgan Stanley | Emmet Kelly (analyst) believes Telefónica is a company to watch after a difficult decade and eagerly awaits the CMD on 4 November. Coming from the technology sector, he believes that the new CEO, Marc Murtra, could introduce significant changes in approach and sees scope for reducing debt, consolidating four-operator markets (Spain, Germany), and new revenue opportunities in Defence and Technology (data centres, apps). Equal-Weight recommendation, from €4.60…

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