Capital Madrid | For the first time in its history, Bankia reached the level of 20,000 million euros in assets managed in investment funds. This was done at the end of January, during which Bankia again led the market in terms of net income, according to data from Inverco.
Renta 4 | Ferrovial (FER) obtained a net profit of 268 million euros last year, which managed to settle in “black numbers” and thus reverse the losses with which it had closed 2018 and had been justifying over the first three quarters of 2019, thanks to the capital gains from the sale of the Ausol highway in Malaga.
Naturgy has agreed with Eni and Egypt to end their dispute over Unión Fenosa (UFG), in which the Spanish and Italian firms own 50% each. The company said the agreement includes the payment of 600 million dollars (about 547 million euros) in cash and most of the company’s assets outside of Egypt, excluding UFG’s business activities in Spain.
Microsoft and Telefónica have agreed to expand their global strategic collaboration to accelerate their customers’ digital transformation. As part of this collaboration, the US company will open a Data Centre in Spain that will take advantage of Telefónica’s infrastructure, which in turn will accelerate the use of Microsoft’s cloud internally.
CdM | Today CELLNEX presented its 2019 results, with a 40% reduction of its losses, reported at 9 million euros. CELLNEX increased its revenue to more than 1 billion (EUR 1.035 billion), which is a 15% year-on-year improvement.
Endesa board of directors includes Italian members of Enel, such as the CEO of the Italian energy company, Francesco Starace, who is vice president of the Spanish company, and who, due to this plan, did not attend the meeting of the company’s governing body convened to approve the company’s last year’s results.
The credit quality of Spanish banks looks solid, despite the pull-back in reported profits. Solvency ratios sitting comfortably above requirements offer greater leeway for capital distribution and will result in higher returns, benefiting investors, says Scope Ratings. Spanish bank creditors should see the banks’ improved capital-generation capacity as a sign of strength, even if capital ratios have peaked for this cycle.
The Al Shoula consortium (Renfe, Adif, Ineco, Cobra, OHL, Indra, Consultrans, Copasa, Siemens, Imathia, Abengoa and Talgo) for the construction and operation of the Mecca-Medina high speed train would have sent a first contract termination notice due to the delay in payment by the Saudi Railway Organization that could amount to about 200 million euros.
Repsol will make a provision of 837 million euros, representing 4% of its market cap, in its 2019 results after the first partial award (of a total of five) issued by the Arbitration Court in 2020. This has been found in favour of Addax and Sinopec in their litigation against Talisman Energy (currently “ROGCI”) and Talisman Colombia Holdco Limited.
Mapfre recorded a 15.2% increase in 2019 net profit to 609 million euros, with revenues up 7.1% at 28,472 million euros. The company headed by Antonio Huertas will pay 447 million euros in dividends from 2019 results, amounting to 0.145 euros per share and a yield of 5.7%.