As part of its strategic plan for 2018-2021, Aena’s board of directors has approved shareholder remuneration equivalente to an 80% pay-out on net profit in 2018, 2019 and 2020. The board could change this policy in the event of exceptional circumstances arising.
According to Colombia’s Stock Market, Gas Natural has agreed to sell the 15.46 million shares, or 41.89% stake, which it stills holds in its Colombian retail distribution unit Gas Natural ESP. With this move, the Spanish firm will complete its exit from Colombia.
The management team at Bankia recently unveiled a three-year business plan which forecasts a strong improvement in profitability, with ROTE (based on a 12% CET1) reaching 11% in 2020.
Inditex has opened its first store in the world with an integrated online section in Stratford (London). Apart from the traditional clothing lines for men, women and children, the store also has an online section with computerised collection points for goods.
Private equity fund Blackstone and Banco Santander have injected 300 million euros in the property fund in which both have a stake. The alliance is a mix of societies under the umbrella of parent company Project Quasar Investments 2017, which includes what was previously Banco Popular’s real estate portfolio. Its gross assets are valued at 30 billion euros, with a net value of 10 billion.
Link Securities |Iberdrola has announced an investment of R$ 3 billion – around 696 million euros at the current exchange rate – over the next five years in electricity distribution networks and wind farms located in the state of Rio Grande do Norte in Brazil.
Société Générale |The situation seems to be calming down in TSB and there is more visibility. The IT problems and the negative PR will have an impact on the UK franchise, which we hope will be profitable this year. It looks like Sabadell is beginning to stabilise now, we expect a more limited impact from 2019 and reiterate our Neutral stance.
Bankinter | Almirall Q1’18 results were better than expected, with sales of 189.3 million euros (-0.1%); Ebitda of 58 million (+5.4%); Net Attributable Profit of 30.9 million (+57.1%) and net debt of 150 million euros. Finally, the DN/PN ratio has reached 7.4%.
Indra Q1 2018 results have been weak, hit by a downturn in its Transport and Defence activity and Tecnocom’s restructuring costs.
Donald Trump has announced the US’ withdrawal from the agreement with Iran and will reimpose economic sanctions on that country. Bankinter analysts believe OPEC and Russia hold the possible solution to the crude supply problem, substituting the production which could be withdrawn from Iran.