The Spanish gas company presented its results for the first nine months. These are the main figures: Total income 884 M€ (-1.3%), EBITDA in book value 767 M€ (+6.9%). Net Annual Profit 333 M€ (+2.3%), Operational Cash Flow 775 M€ (+17) and Net Debt 4.234 Bn€ (vs 3.623 Bn€ in December 2018).
Renta4 | The bank has reached an agreement for the sale of Santander BanCorp Puerto Rico (including the banking business Santander Puerto Rico and the insurance business Santander Insurance Agency) to First Bancorp for 1 billion dollars.
Banc Sabadell | The acquisition of the Arqiva towers in the UK for 2 billion pounds (2.24 billion euros, 19.7% capitalisation and c.39% of NFD for Cellnex) means the integration of c.3,800 installations (+18.4% of Cellnex total) with a tenancy rate of c. 1.4X (vs c. 1.57X for Cellnex) and with contracts of 10 years duration (less than the current portfolio) linked to inflation.
Banc Sabadell | 2019 guidance for Inmobiliaria Colonial: They expect rents of 350 million euros and profit per share of 0.26 euros/share (in both cases in line with BS estimates).
Banc Sabadell | Spanish infrastructure construction group Acciona may have decided not to continue in the bid to compete with Renfe in the liberalisation of high speed trains in Spain.
Alphavalue | Deustche Bank has sold its holding of 4.8% which it maintained as shareholder of reference in Amadeus. The operation has been produced for a total of approximately 139.9 million euros, at 67.02 euros per share, taking into account the current price of the company´s shares.
Directors of the main financial entities in Spain took part in a financial encounter earlier this week. They spoke about mergers and acquisitions, how to generate shareholder value and banking profitability in a scenario of economic slowdown and negative interest rates.
Ferrovial is preparing, together with the French company SNCF, an offer for one of the high speed rail operator licences in Spain. In this way Ferrovial will compete with Renfe from December 2020.
Link Securities | Repsol has won a total of four concessions in Brazil’s marine oil and gas exploration blocks in the auction held by the National Petroleum Agency (ANP) of the country.
Renta 4 | Due to a more adverse market environment than initially anticipated and the increased competitive pressure in Southeast Asia and Europe, VIS revised downwards its 2019 guidance, slightly in revenue (-1%) and more markedly in recurring EBITDA ( -7%) and recurring net profit (-18%). The new estimates consider an increase in sales + 5 / + 7% and recurring EBITDA + 2 / + 5% and a fall in recurring net profit -6 / -12%.