Companies

Companies, European economy, In Europe 16th March 2023

Iberdrola and Haizea Wind Group sign €200m+ contract to supply East Anglia Three wind farm

Alphavalue/Divacons | The chairman of the Spanish utility, Ignacio Sánchez Galán, said that it is necessary to “run” and “accelerate” the commitment to a system based on clean energy so that Europe does not continue “with the anguish” of energy supply that it is experiencing and makes progress towards the self-sufficiency that “renewable energies provide”. On the other hand, Iberdrola (IBE) and Haizea Wind Group signed a contract worth more…

Companies, In the World 15th March 2023

HSBC buys UK subsidiary of Silicon Valley Bank for £1

Singular Bank | HSBC has bought the UK subsidiary of Silicon Valley Bank (SVB) for £1 following the collapse of the regional bank. The purchase has been made through a private rescue provided by the UK government and the Bank of England. HSBC, Europe’s largest bank operating mainly in the Asian market, estimates the tangible equity of SVB’s UK subsidiary at around £1.4 billion. The money of all SVBUK depositors…

Companies, Spanish economy 11th March 2023

IAG, with biggest share of slots, to benefit most from Heathrow’s lower charges

Intermoney | The UK’s airport regulator decided on Wednesday that Heathrow’s airport charges should be lowered because passenger numbers have recovered faster than expected. In 2021, Heathrow was given permission to increase passenger charges for airlines from £19.60 to £30.19 by summer 2022 and the average passenger charge for 2023 is £31.57. This should fall to £25.43 in 2024 and remain flat until the end of 2026. Heathrow wanted charges…

Companies, In the World 10th March 2023

Breaking with rapper Kanye West and drop in Chinese sales cause Adidas to lose €724M in 4Q22

Norbolsa : The company publishes pre-announced results. It registers an operating loss in Q4 of €724M due to the effect of breaking the agreement with the rapper Kanye West and with sales in China falling by 50% in the quarter. Gross margin was 39.1%, affected by higher supply costs and higher discounts. It estimates an operating loss of €700m in 2023 due to inventory provisions and extraordinary costs. It considers…

Companies, Spanish economy 3rd March 2023

Redeia: Spain and France to pay extra cost of Bay of Biscay interconnection

Norbolsa : Both countries reached an agreement yesterday to share the cost overruns in the construction of the Bay of Biscay electricity connection line, finally reaching €2.85 billion. In 2017, the cost was estimated at €1.75 billion, but has now risen to the figure indicated above. At that time, it was also agreed that Spain would pay 62.5% of this amount, while France would pay the remaining 37.5%. This distribution…

Companies, Spanish economy 3rd March 2023

TCI, with 6.4% of Ferrovial’s capital, defends change of HQ and says it can help correct large share price discount

Link Securities | Ferrovial (FER) has set out the rules for carrying out the move of its headquarters to Amsterdam, Expansión newspaper reported on Wednesday. The company will compensate shareholders opposed to the move with €26 per share, the average price of the last three months. In relation to this same issue, the newspaper Expansión reports on Thursday that the largest foreign investor in FER, The Children’s Investment (TCI), which…

Companies, Spanish economy 1st March 2023

FCC initiates contacts to refinance Environment subsidiary bond for €600 million

Link Securities | FCC (FCC) has initiated contacts with financial institutions and investors to refinance the bond of its Environment subsidiary for an amount of 600 million euros that matures next December, as reported on Monday by the newspaper elEconomista. The construction and services group is exploring different alternatives given the current market circumstances, with the rise in interest rates as the main conditioning factor. The first option is to…

Companies, Spanish economy 1st March 2023

Vocento to pay interim dividend of €0.046 gross per share for 2022 financial year

Link Securities | The Board of Directors of Vocento, at its meeting on 27 February 2023, has resolved to propose to the General Meeting of Shareholders that an ordinary dividend be paid out of the profit for 2022, in the amount of €5,500,000, at a rate of approximately €0.046 gross per share for each VOC share, from which the applicable withholding tax will be deducted. The amount per share will…

Companies, In the World 27th February 2023

Danone €959m 2022 profit down 50% on 2021 due to higher raw material prices and partial withdrawal from Russia

Singular Bank : The world’s leading group in the dairy products segment (with a dominant position in Yogurt), in Water and in Infant and Medical Nutrition, has published its results for the last quarter of the year. Like-for-like sales (LFL) rose 7.0%, beating consensus on almost all measures, thanks to an 11.3% rise in prices and despite a 4.4% drop in volume. By business, EDP (Essential Dairy & Plant-based) grew…

Companies, In Europe, Relevant News Item 21st February 2023

Cepsa and ACE Terminal Rotterdam consortium to open green ammonia shipping corridor between Algeciras and Rotterdam

Norbolsa : The company has signed a memorandum of understanding with the ACE Terminal de Rotterdam consortium of companies by which the Spanish energy company has initiated a collaboration with the aim of reaching a binding agreement to facilitate the maritime transport of green ammonia between the port of Algeciras and the port of Rotterdam for its final use in industry. The ammonia can also be used directly by fertiliser…

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