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inditex all

Ibex, Markets, Spanish economy 16th September 2020

Inditex Returns To Profitability And Generates €734 M Net Cash In The Second Quarter

Inditex has seen a “rapid recovery” in the second half of its fiscal year 2020-2021, after returning to profits of 214 million euros in this period (between 1 May and 31 July), and leaving behind the loss of 409 million euros in the first three months. Sales recovered from -44% in the first quarter to -31% in the second quarter, despite as many as 87% of the Group’s stores still being closed in May. Today, 98% of Inditex’s stores are open, with restrictions still in place in some specific markets.

companies general

Spanish economy 15th September 2020

The Creation Of Companies In Spain Grows To Pre-Covid19 Rates In August

In August up to 5,407 new companies joined the Spanish business network compared to 5,407 in the same month last year, leaving behind five consecutive months of declines due to the Covid-19 crisis, reported the Association of Registrars. Specifically, the incorporation of companies grew by 8.4% year-on-year in August, compared to the 72.1% drop recorded in April, the 56.4% fall in May, the drop of 10 pct in June and the more moderate decline of 3.4% in July.

Nadia proud spain

Spanish economy 14th September 2020

Brief Chronicle Of Spain: A Bad Summer. A Worse Autumn?

Joan Tapia (Barcelona) | The figures of the Spanish economy were terrible in the second quarter. GDP plummeted by an outrageous 18.5% compared to the previous quarter, while the GDP of the euro area, despite suffering the biggest fall since reliable statistics have been available, fell considerably less, by 11.8%. And the loss of jobs in the same period was 7.5% in Spain compared to 2.9% in Europe.

Aena

Ibex, Markets, Spanish economy 14th September 2020

Spanish Airport Traffic Continues At Very Depressed Levels: 69.6% Drop In August

The airports in the Aena network closed August with 8,951,753 passengers, 69.6% fewer than in the same month last year, along with 142,962 aircraft movements, 39.1% fewer than in August 2019, and 59,819 tons of freight, 28.6% lower. Out of the total number of passengers recorded in August, 8,909,752 were commercial passengers with 4,838,712 on domestic flights, 41.6% less than in August 2019, and 4,071,040 on international routes, down by 80.7%.

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

Spanish economy 11th September 2020

Spain’s Foreign Trade Is Holding Out

Luis Alcaide | New outbreaks of coronavirus in the Altlantic area are dampening the optimism aroused by the second-quarter foreign trade figures. World trade, according to Dutch analyst Cpb, grew in volume by 7.6% in June compared to May, the largest increase since January 2000. Industrial production, also according to Cpb, increased by 4.8% between May and June after four months of decline.
Abengoa Abenewco

Markets, Spanish economy, Spanish Small & Mid Caps 11th September 2020

The New Abengoa Puts 24 Subsidiaries Up For Sale; Considers Requesting State Aid To Stay Afloat

This operation will serve as compensation for the creditors and suppliers who will assume the removal and capitalization of Abengoa debt. The companies up for sale should be transferred within a year. Most of them are projects which have had the “for sale” sign on them for a while, and their valuation has deteriorated. In 2019, the 10 main assets had a net book value of €1.557 Bn and a negative impact compared to 2018 of €118 M. This is in line with the restructuring agreement approved on August 6.

banco sabadell palmeras

Ibex, Markets, Spanish economy 10th September 2020

Sabadell Is Considering Options To Defend Itself From The Effects Of The Caixabank-Bankia Merger

Banco Sabadell has been left hanging after the announcement of the merger between Bankia and CaixaBank. For months there had been talk of a combination of Sabadell and Bankia as the most promising concentration operation in the sector. Now, however, this possibility has vanished and the Catalan bank would be assessing different options to protect its interests.

spanish economy

Spanish economy 9th September 2020

Spain, Lagging Behind In The OECD And A Straggler In The Eurozone

According to the latest OECD’s data for the month of August, Spain is at the back of the bunch, with 93.2 points. It is the only country which has slowed down, losing 1.4 whole points and becoming the country signalling lower growth. The final Q2’20 GDP data for the Eurozone does not leave Spain in a good position either. The decline in the country’s economic activity stands out as being the most negative, with a drop of 22.1%, ahead of France, which declined by 18.9%, Italy by 17.7% and Portugal by 16.3%.

spain brand

Spanish economy 9th September 2020

Spain Ranks 30th In the UN Global Innovation Index and 21st In The New Brand Value Indicator

Spain is ranked 30th in the UN’s Global Innovation Index (GII) and 21st in the new brand value indicator. For the first time in its 13-year history, the renowned GII includes brand value as one of its main indicators. With a score of 33.29 out of 100 on the Global Innovation Index (GII) global brand value indicator, Spain is among the countries whose brand value to GDP ratio is lower than expected for the size of the economy.