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CAF verde

Companies, Spanish economy 9th May 2023

Higher bus sales put CAF 1Q23 turnover at €952M, 29% up on same period last year

Norbolsa : The company presented its 1Q23 results last Friday, achieving a 29% improvement in sales on 1Q22 and slightly above consensus expectations (+1% versus 1Q23 expected) (€952m versus €862m estimated), highlighting the increase in bus sales (+35% versus 1Q22), although margins continue to be weighed down by the Solaris units affected by the inflationary context. In this regard, the company notes a slight improvement in the bus supply chain,…

Spanish trade unions

Spanish economy, Spanish Politics 8th May 2023

Entrepreneurs more generous than Government

Fernando González Urbaneja | Employers and unions have reached an income policy agreement on their own which is coherent with the previous ones signed during the last decades. There is no break in the social pact policy that accompanied Spanish democracy for decades. The agreement (a salary increase of 4% in 2023 and 3% in 2024) is indicative, a recommendation for decentralized collective bargaining, thousands of sector, province, company agreements……

Spain public employment

In Spain, Spanish economy 5th May 2023

Public employment hits record high: 2.9 million, up 22,840 in 1Q23

Public employment has grown in Spain by 22,842 people in the first quarter of the year, the largest increase in staff in the service of the Public Administration in this period since 2015, when regional and general elections were also held in Spain. According to the updated public employment data at the end of March published yesterday by the Ministry of Social Security, with this increase in staff the total…

coches aparcamiento

Spanish economy 5th May 2023

Car sales in Spain moderate pace of growth to +8.2% in April after +45% accumulated in Q1

Intermoney | According to data published by the manufacturers’ (Anfac), dealers’ (Faconauto) and sellers’ (Ganvam) associations, car sales in Spain maintained a positive performance in April, although the pace of growth moderated to +8.2% after the strong +45% growth accumulated in the first quarter. Nearly 75k vehicles were registered in April, bringing cumulative sales in the first four months of the year to over 312k units, an increase of +34%…

Employment

In Spain, Spanish economy 4th May 2023

Unemployment falls by 73,890 in April

The number of unemployed registered in the offices of the State Public Employment Service (SEPE), fell by 73,890 people in April to leave the total at 2,788,370, figures not recorded since 2008, according to the Ministry of Labour. Unemployment registered in April fell in all 17 Autonomous Communities, the most marked falls being in Andalusia (-20,551), Catalonia (-9,506) and Castile-La Mancha (-6,645). Year-on-year unemployment fell by 234,133 people (-7.75%). In…

iberdrolaTC

Spanish economy 4th May 2023

Iberdrola to invest 3,663 million to modernise New York’s grids

New York will invest more than $35 billion in clean energy in 120 large-scale renewable and transmission projects with the aim of lowering customers’ bills. In this context, Iberdrola has already received the go-ahead from the state’s Public Utilities Commission to launch a two-phase project that will involve spending $3,663 million (€3,315 million) to reinforce power lines in the area and accommodate – in the electricity area alone – nearly…

Fluidra piscina

Relevant News Item, Spanish economy 4th May 2023

Fluidra claims water consumption in pool sector “very low” in Spain, around 0.15%.

Link Securities | At a symposium at the Círculo Ecuestre, Fluidra’s president, Eloi Planes, said yesterday that this year’s drought will have an impact on the swimming pool business, but he also said that it could be a driver of growth in the medium and long term, according to the newspaper Expansión. Planes explained that the renovation of equipment for more sustainable systems will be a vector for growth. Despite…

pensiones playita

Spanish economy, Spanish Politics 3rd May 2023

Population over 64 in Spain now more than 20%, outnumbers that of under-20s

Funcas | The growing imbalance in the size of the older and younger generations poses a challenge for intergenerational solidarity, with important implications at the economic, social and political levels. Spain is a good example of this demographic trend. While in 2012 the population aged 65 and over accounted for 17.4% of the population, by 2022 already exceeded 20%. In contrast, the population under 20 years of age fell to…

Spanish midcap Telepizza

Spanish economy 3rd May 2023

Bondholders, Santander and ICO rescue Telepizza

Telepizza’s bondholders and Santander, its largest creditor bank, yesterday signed an agreement to save the company. According to sources close to the operation reported by the newspaper CincoDías, both the funds and the bank have agreed to assume a write-down of around half of its liabilities, some €400 million , in exchange for taking over 100% of the company. This means that the bondholders will become the new majority shareholders,…

tractorada

Spanish economy, Spanish Politics 3rd May 2023

Spanish countryside, with 80,000 fewer workers than a year ago, calls strike on May 14th

The total number of people employed in the Spanish agricultural sector at the end of the first quarter was 748,200, compared to 827,700 in the first quarter of 2022. Nearly 80,000 fewer employed than a year ago. This is the largest annual fall in a first quarter since 2015, according to the Spanish National Statistics Institute’s Labour Force Survey (EPA). You have to go back to the first quarter of…