Companies

Indra novedad

Indra finalising details of agreement with Leonardo subsidiary Iveco to supply Spanish Navy with armoured vehicles under €374 million contract

Alphavalue/Divacons | The Spanish IT services and consultancy firm is finalising the details of an agreement with Iveco Defence Vehicles (IDV), a subsidiary of the Italian giant Leonardo (downgrade, Target Price €48.1/share), for the supply of amphibious armoured vehicles for the Spanish Navy. The contract, valued at €374 million, will be carried out through a joint venture (JV) formed by Indra and Escribano Mechanical & Engineering (EM&E). The project involves…


alta velocidad

ACS, Acciona and Ferrovial lead three consortia bidding for Poland’s largest public works project—major high-speed rail contract—worth €30 billion

Link Securities | The Polish subsidiaries of ACS, Acciona (ANA) and Ferrovial (FER) are leading three of the consortia bidding for the first major high-speed rail contract in Poland, a project linked to the new Warsaw International Airport (CPK) which makes it the country’s largest public works project and one of the largest in Europe, with a total budget of over €30 billion, of which around €18 billion will go…


iberdrola señalada

Iberdrola acquires 42 MW solar photovoltaic plant in Italy, bringing generation capacity in country to 400 MW

Link Securities | Iberdrola (IBE) has reached an agreement to acquire a solar photovoltaic plant with an installed capacity of 42 MW, located in Lazio (Italy), from the local developer CCE Holding, an international renewable energy company based in Austria, according to Bolsamanía. The facility, which came online less than six months ago, has long-term power purchase agreements that guarantee stable cash flows. The plant will form part of the…


BBVA vela atardecer

BBVA complies with MREL, subordination requirement for APRs

Link Securities | On Tuesday, BBVA (BBVA) received a new notification from the Bank of Spain (BdE) regarding the determination of its minimum requirement for own funds and eligible liabilities (MREL), set by the Single Resolution Board (SRB), which applies to it from the date of receipt and has been calculated taking into account financial and supervisory information as at 31 December 2024. This new notification repeals and replaces the…


Squirrel media

Squirrel acquires firm specialising in programmatic digital advertising through share issue at €3.20 per share, subject to lock-up agreement

Renta 4 | Squirrel has reached an agreement to acquire 100% of the share capital of a Spanish company specialising in digital advertising planning and management services, with advanced capabilities in programmatic technology, advertising spend optimisation and data-driven campaign activation. The acquired company operates internationally and provides services to advertisers in various markets, managing automated strategies across an aggregate advertising investment volume exceeding €500 million, with a focus on optimising…


Airbus nuevo

Airbus strengthens Spain’s position within consortium after appointment of Amparo Moraleda as chair

Alphavalue/ Divacons | Spain’s Amparo Moraleda has been appointed chair of the European aerospace giant. This is the first time that an executive who is not of French or German origin has held the chairmanship of the company. The appointment will take effect on 1 October. Moraleda will strengthen Spain’s position within the consortium. Moraleda, who has been on the Airbus board since 2015, will succeed René Obermann, who has…


aena airport

Tensions in Middle East could attract more tourists to Spain

Bankinter | Aena’s (AENA) fundamentals are improving, against a backdrop of solid demand, where tensions in the Middle East could even attract more tourists to Spain, and with a more favourable tariff framework. The company has proposed an annual increase of 3.8% for the period 2027–2031, although in our base case scenario we assume some reduction by the National Commission on Markets and Competition (CNMC) of up to 2.5% annually….


ence 2

Ence plans to triple renewable energy division EBITDA by 2030 by managing over 2 million tonnes of biomass annually

Alphavalue / Divacons | Ence plans to triple the EBITDA of its renewable energy division by 2030. This ambitious strategy is underpinned by the management of over 2 million tonnes of biomass annually, making it the leading operator in the Iberian Peninsula. In the same press release, the company announced that it continues to develop the largest renewable energy platform based on the conversion of biomass into industrial heat, regulated…


unicaja logo fachada

Unicaja Banco confirms “preliminary discussions” with Wizink Bank regarding potential agreement to boost card and consumer finance business

Link Securities | In relation to certain reports that appeared in some media outlets yesterday, Unicaja Banco informed the National Securities Market Commission (CNMV) that it regularly analyses potential investment opportunities or corporate transactions that could be of interest to all its shareholders. In this regard, it confirms preliminary discussions with WizinkBank, S.A., with the knowledge of the Board of Directors and within the framework defined in the Strategic Plan,…


ACS novisimo

ACS shares set to rise fivefold over four years thanks to data centre construction business

Morgan Stanley | Nic Mora (analyst) upgrades ACS to OW, seeing greater growth potential in its data centre construction division. Nic acknowledges the strong share price rally (5x in 4 years), which reflects the impressive data centre construction business (Turner), with global leadership, growth and potential for margin expansion. His new EBITDA estimates are 9–15% above the consensus, driven by both revenue growth and improved margins in data centres. Furthermore,…