Jefferies | 4Q2 First Look -New Guidance Supportive to Earnings and Buybacks: A 4% PBT beat, positively impacted by an FX adjustment in Argentina, with PBT ex-Argentina in line. Beats come from ‘core’ geos such as Spain, Mexico and Brazil, with softer prints in rest of Europe. New guidance implies c1-1.5bn EUR upside to ’25 cons profits (+10% at the mid-point) and c4bn EUR upside to cons buybacks in ’25-26….
Bankinter | The number of unemployed rose in January by 38,725 people compared to 55,000 expected and after a decrease of 25,300 in December. The number of unemployed stands at 2.6 million (up 1.5% month-on-month and down 6.1% year-on-year). Seasonally adjusted Social Security affiliates increased to 21.399 million people (35,800 more workers, up 0.17% month-on-month and 2.4% year-on-year). In non-adjusted monthly terms, the number of affiliates fell to 21.09 million…
The DISA Group has completed the purchase of 55 service stations from the Q8 network (owned by Kuwait Petroleum) in Portugal, thus expanding its presence in the Portuguese market where it becomes the third operator by number of service stations (312) with a market share exceeding 11%. The leader is the Portuguese company Galp, with 30%, followed by Repsol with 17%. The operation was finalized on January 31 and integrates…
Intermoney | Last Friday, with the market open, OHLA (OHLA) (Hold, Target Price under review) informed the National Securities Market Commission (CNMV) of the result of the capital increase with rights, of up to 320 million shares at $0.25 each, in which these had been trading on the stock exchange between 13 and 27 January. Finally, a total of 315,481,376 new shares were subscribed in this pre-emptive subscription period, representing…
In Spain, in 2024, a total of 717,338 homes were put up for rent. The figure alone doesn’t say much. The comparison with previous years does. That’s 96,512 fewer properties than were rented a year earlier (which implies an 11% drop) and nearly 300,000 fewer homes than during the height of the Covid pandemic, whether compared to 2020, when the economy was at a standstill, or to 2021, as explained…
Intermoney headquarters| The Board of Directors of Sacyr (Buy, PO 4.4 €) agreed yesterday after the market close to propose to the next shareholders’ meeting the appointment of Pedro Sigüenza as a director of the company with executive qualification in the functions of development and management of the business lines. The approval, if it happens, of this proposal by the General Shareholders’ Meeting will allow Sigüenza to be appointed CEO…
Link Securities | Repsol’s Board of Directors on Wednesday gave the green light for investment in the Ecoplanta, a pioneering project in Europe to transform urban waste into renewable fuels and circular products, becoming a solution for reducing CO2 emissions in transport, while at the same time promoting the circular economy. The facility, which will be located in Tarragona and in which more than 800 million euros is expected to…
With the advance of the year-on-year CPI in the first month of 2025, inflation has recorded four consecutive months of increases, reaching its highest value since June, when it stood at 3.4%. The INE includes in the advance data of the CPI an estimate of core inflation (excluding unprocessed food and energy products), which decreased by two tenths in January, down to 2.4%. In monthly terms (January 2025 compared to…
Renta 4 | The results for Q4 2024 have shown a net interest margin slightly above expectations (+1% versus r4 estimated and consensus), and income from services -1% versus R4 estimated and +4% versus consensus. Gross margin was in line with R4 estimated and 2% higher than expected by the consensus. Net profit was 4% higher than R4e and 9% higher than the consensus, mainly due to lower provisions and…
Bankinter | The bank beats expectations with a net attributable profit of €2,433 million in Q4 2024 (up 18.0% against €2,243 million estimated) thanks to the good momentum of the business in Spain and improves shareholder remuneration with a €993 million share buyback plan. Key figures for 2024 compared to the consensus forecast (Bloomberg): Net interest income: €25,267 million (up 9.0% versus €24,780 million estimated); Gross income: €34,481 million (+20.0%…