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Banco Santander fulfills its commitment to shareholders and raises cash dividend by 3%

Spanish economy 25th February 2022

Santander Adapts Governance to ECB Requests: Cuts Botín’s Executive Functions And Rises CEO’s

Banco Santander held an extraordinary board meeting yesterday afternoon to approve the rebalancing of powers between its executive chairwoman, Ana Botín, and the CEO, José Antonio Álvarez, financial sources told Europa Press. With this decision, Álvarez will report directly to the board of directors and not to Botín, as he has been doing until now. This is a situation requested by the European Central Bank (ECB), so that the entity…

Telefónica to reduce its reliance on Huawei

Spanish economy 24th February 2022

Telefónica earned € 8.137 Bn in 2021, up 20.7% vs yr-earlier; resumes cash dividend for 2022 of 0.30 €/Shr

Link Securities | Telefónica today presented its results for the 2021 financial year, as outlined below: The company’s January-December 2021 results have achieved the upwardly revised annual financial targets in Q2’2021. o Revenue and OIBDA; “stable or slight growth (year-on-year organic)”. Revenues +2.0% and OIBDA +1.4% in 2021. o Return to normalized level of CapEx to sales ratio ex-spectrum of up to 15%. CapEx to sales to reach 14.2% in…

Indra Tecnocom

Spanish economy 24th February 2022

The Government Wants Even More Control Over Indra, But Without A Takeover Bid

The Council of Ministers has authorised the state to hike its stake in Indra (IDR) through SEPI. It will increase its control from the current 18.7% to 28%. “The motive behind the government’s reasoning is greater control in a key company for the country’s defence system”, says Renta 4. At current prices, the increase in its stake would mean an investment of just over 150 million euros. According to press…

ACS Vinci

Spanish economy 24th February 2022

Hochtief (ACS) Launches A Takeover Bid At A$22 Per Share To Delist Cimic From The Stock Market

ACS has decided to make a move to undertake a corporate operation. Thus, the company chaired by Florentino Pérez has decided, through the German construction company Hochtief, to launch a bid for its Australian subsidiary Cimic and is offering its shareholders 22 Australian dollars per share (14 euros) in cash for the 21.4% of the capital it does not own, which would mean a total outlay of around 940 million…

iberdrola

Spanish economy 23rd February 2022

Iberdrola Posted Net Attributable Profit Of €3.88 Billion

Helped by increased investments and international expansion, in 2021 the company posted €3.88 billion net profit, up by 8%. The positive growth in the United States and Brazil has offset the negative performance of the generation and supply business, affected by high energy prices in Spain and the United Kingdom.  Ebitda exceeds €12 billion (+20%). The company has delivered its gross operating profit forecast for 2022 one year early Improved…

banks general 777x400

Spanish economy 23rd February 2022

Banking: From Confusion To Perplexity. A Question Of Transparency

Aristóbulo de Juan | The Spanish system lends itself to great confusion. It is therefore difficult to diagnose. This situation has been dragging on since the recent real estate bubble and the poor handling of the ensuing crisis. Perhaps as a consequence of the doctrine of deregulation. But this situation continues to be favoured by the existence of an ineffective regulatory framework, based on the elusive principle that it is…

naturgy ok

Spanish economy 22nd February 2022

S&P puts Naturgy on credit watch negative: the firm’s split raises doubts over the shareholder structure and the financial policy of the new companies

Santander Corporate & Investment | S&P has put Naturgy Energy Group (Baa2e, BBB*-, BBBe) on credit watch negative. The decision comes in the wake of Naturgy’s announcement on February 10 that it will split into two groups (NetworksCo and MarketsCo). The ratings agency considers that this third strategy change by Naturgy in 18 months indicates that “the governance is inferior to the average and that the company is totally focused…

NuñezFeijoo

Spanish economy 22nd February 2022

The Media And The PP: To Inform, To Express An Opinion Or To Decide

Fernando González Urbaneja | The PP’s current crisis, with an uncertain outcome as yet, as there is still much to be done, is a good case study of the role of the media in the evolution of politics and events. The basic function of journalism is to inform with a diligent search for the truth. Reporting after verifying sources and protagonists with transparency, admitting some exceptions, but not many. Sources…

disabled

Spanish economy 22nd February 2022

More Than 516,000 People With Disabilities Worked In Spain In 2020, The Highest Figure In History

With the latest official data published by the National Institute of Statistics on the employment of people with disabilities in Spain, the Randstad Foundation has calculated that in 2020 there were in the country 1.93 million people with disabilities of working age (16 to 64 years), reaching 6.3% of the total population in that age group. This figure is the highest since 2014 and has had a growth of more…

Repsol 1440x808

Spanish economy 21st February 2022

A valuation of €3 billion is being put on Repsol’s renewables arm (15x Ebitda)

Renta 4 | The official period for JP Morgan to receive non-binding offers for up to 25% of the capital finished on February 7, after a book was drawn up where the perimeter of the renewable subsidiary’s assets were finalised. Two combined cycle plants with some 1.600 MW have been excluded. Repsol (REP) has 700 MW in operation in hydroelectric plants, which it inherited from Viesgo, after it bought a…